Apr 25, 2017
In this episode, founder and CEO of Two Caterers, joins Kevin to talk about her current ventures. After a successful start-up, she is now working to expand her company to a multi-unit venture. She shares her story of how she got started, some of the current struggles she’s facing with an established business and a start-up, and how EO has benefitted her along the way.
[0:30] Angela begins the episode by sharing her history and her lifeline. Growing up in Akron, education was not necessarily an important part of her family’s background. When she was 19, she travelled to Germany, worked in a hotel, and travelled and saved $5000. When she moved back to the states, she studied at Ohio State. On graduation, after a few small jobs, she and a friend started their catering company, Two Caterers.
[6:38] Highs & Lows: They started their sandwich shop/catering business in a bar, and then ended up in a new location that had fallen through for some other friends. This is where the business really started. Her business partner left, and Angela ended up having to buy the business from her — listen to hear how she got the money!
[12:28] What happens after Angela joined EO? Once she joined EO, she finally felt like she had all these people who understood her place in life, and consequently found a host of opportunities and new experience. Since joining EO, she bought her own building for the catering company, and now they are looking at expanding to a food truck and a second location.
[18:17] During these experiences, she learned that her real talent is being able to putting things together that will help or empower other people to be part of something.
[20:15] What’s next — what does the future look like for Angela and her business? She started working with a facilitator for EOS, so they’ve created a one-year, three-year, and ten-year plan. Sweet Carrot was always intended to be multi-unit, so the second one is on it’s way. The ten-year picture is to open as many Sweet Carrots as the world wants.
[22:16] Kevin and Angela talk about capital. While they have some investors for Sweet Carrot, the seed money only goes so far. There’s a bridge period between the size they are now and having enough EBITDA to be interesting to an equity investor. Despite their success with Sweet Carrot, Angela was told she would probably never be able to finance the growth with the help of a bank.
[26:38] When looking for people who might want to invest in seed capital, Angela had a really hard time finding other female business owners who would hear her pitch. When you don’t have access to the same networks, it can be difficult to get started. Kevin and Angela talk about how it is also difficult to obtain financial help, once you’re relatively established but still looking to grow.
[30:13] Angela talks about how EOS is working with her business, and she and Kevin talk about what they’ve learned about leadership by going through the EOS process. What does it mean to lead your company and not just work in it every day?
[37:15] Her employees have been shared between the two ventures, so they could have the opportunities that come with both. There are labor laws that have made this difficult for some employees, but for the most part they have been able to provide growth for employees between companies.
[39:13] Angela’s motto for her life: “Hang in there baby,” via a motivational poster from the 70’s. She has taken it to mean, if an opportunity presents itself, go for it!
[40:20] Within the community of EO members, the best thing to do for each other is to be there for them to talk, or vent, or bounce ideas off each other. When you can relate to others in a similar situation, it can be very affirming.
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