Serving Anne Arundel, Baltimore, Baltimore City, Howard, Montgomery, Prince George's Counties in Maryland
As she has stated, Devora Kimelman-Block became a businesswoman by chance. An idea for a business dropped into her lap and she decided to quit her non-profit job in the education sector and take a chance with the new business venture. KOL Foods, Devora’s company, is selling Kosher grass fed beef, and other Kosher animal products on line. She has established suppliers in the USA and in foreign markets. She established a fulfillment location in Pennsylvania. She has grown her revenues each year in business.
She started it with no real Business Plan in place or idea of the market would look like.
She did not completely understand finances or record keeping for the business. "The SBTDC has helped me with my business in many capacities since I first called in 2008 when I was just starting up my business. I initially used Kyle Bayliss’ advice with the legal requirements to secure a $90,000 loan in 2008. His advice helped me start the business. I also needed a sounding board for new opportunities and shaping of the mission before I had any business partners or employees."
In the fall of 2011, Devora participated in the CEO program, which helped bring her business to a whole new level especially including planning for success. "Until the program I was quite lucky that the business did not lose money because I was not fully knowledgeable of its finances. I knew that in order for the business to grow, I needed Profit and Loss and Balance Sheets so I could make decisions on how to grow, but I had no idea of where to start." Devora, like many new business owners, was making costly errors with her financial statements. She was using the sales price of her inventory to calculate cost of goods sold instead of the actual price she paid her suppliers.
Since the CEO program and working with Henry Turner, Devora finally feels that she has a handle on the business’ finances. The CEO program and Henry also helped her focus on planning future goals and strategies and how to be a good boss. Each year she has grown her revenues towards one million dollars, her goal for 2013. "I am very grateful to the SBDC for advising me as I built the business into a money maker with a national capacity and plenty of room to grow".
Posted: May 06, 2013