Interested in starting your own entrepreneurial journey but unsure what to expect? Then read up on our interview with Abbie Jones, President of Abbie Jones Consulting, located in Lexington, KY, USA.
What's your business, and who are your customers?
Abbie Jones Consulting provides Land Surveying and Civil Engineering to residential, commercial, and government clients.
Tell us about yourself
I knew in fifth grade that I wanted to be an engineer. As I took classes, I found out what Land Surveying is and loved it too. After getting my degree and working for other consulting firms for ten years, I stepped out on my own. It was the only way I would ever make it into the C-suite. It's now been 12 years of my 100% remote firm, and post-pandemic, people don't make fun of us anymore. They finally see us as the progressive firm we have always been. I am motivated each day by working with our top talent staff on projects that help our communities.
What's your biggest accomplishment as a business owner?
Receiving the 2022 KY Small Business of the Year, Remote (Home-Based) Division award. However, I am proud of establishing a maternity leave program, having staff buy personal vehicles due to my employment, and hopefully soon, one will be buying a new house.
What's one of the hardest things that come with being a business owner?
Accounts Receivable is the hard part of business in my space. 50% of our work is private with good payment terms and often half up front. 50% of our work is in the government space, which rarely dries up but can take 3-8 months for payment. Getting a meaningful Line of Credit was essential to being able to take on larger projects, and it was not easy to get. Getting a LOC is something you really, really, really need to shop around. Also, we had to develop a residential service line to help with cash flow because those are paid at booking.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- Set up a separate checking account immediately with all receipts.
- Look at the SBA's websites about developing a business plan and growth plan.
- Join a local business group (BNI, Toastmasters, Rotary, etc.), so you get your pitch down pat quickly through repetition. You also field-test it in those settings. These are more important than the society clubs for your actual technical area (for me, ASCE, NSPE, etc.). Restart your involvement in tech clubs after you get the business owner part going.
Is there anything else you'd like to share?
Diversification has been helpful for my firm as it got off the ground. Now we are fine-tuning the clients' desires.
Where can people find you and your business?
Website: https://www.abbie-jones.com/
LinkedIn: https://www.linkedin.com/company/abbie-jones-consulting/
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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