Vibrant business owners have a diversity of skills. Not only do they need to know their product, they need to know the business of doing business.
Lorena Ramirez owns Mi Mundo in Lexington, Nebraska. She knows that to expand and succeed in business, you must be willing to capitalize on your own talents. But you also need to seek training when necessary.
Lorena opened Mi Mundo in August of 2013. She steadily expanded her offerings and used an entrepreneur’s best tool: creativity! In doing so, Lorena created a unique niche in the market.
She started with a small inventory of earrings, bracelets, and necklaces. Later, she expanded into clothing, shoes, purses, hair accessories, and some cosmetics. Although Lorena had a great selection of products to choose from, it wasn’t enough to differentiate her from other retailers in the area.
Like most entrepreneurs, Lorena tapped into her creative side. She began thinking about a new niche to fill. Growing up, she was inspired by crafts. Lorena loved crafts and began thinking about how she could create them. She got to work crafting and found she had a talent for it.
Lorena began adding her creations one by one. People soon got to know her and her talent. Initially, she expected to primarily reach the Hispanic market. But her products have proved to have broad appeal.
In Nebraska, you can find Lorena’s craft arrangements at graduations, birthdays, baptisms, baby showers, and about any type of celebratory event. Lorena’s gifts have become popular among area residents, and it’s kept her business growing.
Lorena felt she knew about business. She was familiar with purchasing and producing products to sell. Fortunately, she decided to attend training and check it out anyway.
Her openness to learn has been a boon to the business. Training from our small business development program, REAP, helped her understand the complexities and fine details of running a small business. She learned how to understand financial statements and taxes. Learning when to shift from working IN your business to ON your business helped immensely.
Lorena suggests others who are starting a small business look for training. She says, “Motivate yourself to attend because you don’t know what you are missing.” While REAP loans can impact your business in a very positive way, the additional support REAP provides is invaluable to making your small business a success.
110 East 6th St.
Monday-Wednesday 11:30 to 7
Thursday-Saturday 11 to 7
Sunday 1 to 6
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