FEATURED BUSINESS

NGT Fine Arts and Framing is home to an amazing portrait artist and framer who is tightly housed in the Vietnam Center. Truong Nguyen received his Bachelor of Arts from the University of Minnesota and eventually started his own framing business fifteen years ago.

Mr. Nguyen is an expert when it comes to finding the right frame to enhance your artwork or photograph. He also guarantees a good discount when you use his framing service. He also recently started drawing again, and uses a unique method to create his portraits. The majority of his portraits are in black and white. The medium that he uses is derived from the smoke residue of kerosene lamps, also known as “Lamp Black.” Though he is incredibly talented, Mr. Nguyen is truly humble when it comes to his framing and portrait work. continued on page 2, column 1...

WHO WE AREEight community development organizations formed the University Avenue Business Preparation Collaborative (U7), to provide business support services and resources to help small businesses survive and thrive before, during, and after Central Corridor Light-Rail construction.

The U7 partners have a long and successful history of supporting the growth and development of small businesses, collectively having originated over 800 loans to over 700 small businesses representing capital of over $10 million. continued on page 2, column 3...

the scoop

News:Light-rail construction on University Avenue is due to start in spring of 2011 (Hamline to Emerald).

U7 receives a City of St. Paul Star Grant for $50k to be matched with other revenue sources for the facade matching grant program. (Program to launch in Jauary of 2011).

www.readyforrail.net has launched and is a great resource for small business owners.

City of Saint Paul, Metropolitan Council and the Central Corridor Funder Collaborative has set aside $1.5 million for a business support fund.

*Call U7 for more information on these news headlines.

U7 By The Numbers*:88 businesses helped with professional one-on-one Technical Assistance

Includes:

• 23 Clients, Rondo Business Resources Center

• 31 businesses helped with loan applications

20 businesses in financial health consultation

program

9 businesses received capital loans

• 41 businesses helped with intensive marketing and

branding services

53 workshops have been held with 212 in attendance

10 clients on Waiting List

* Numbers cover August 2010

Sept 2010QuarterlyNewsletter

Helping businesses prepare to survive and thrive before, during, and after light-rail construction.

www.universityseven.org // universityseven@gmail.com // 651.379.8431 // Sept 2010If you would like to receive this quarterly newsletter directly please email: sialo@ndc-mn.org

continued...It is that sense of humbleness and his strong work ethic and commitment to quality work that allows him to have a competitive edge and gain a very loyal customer base. Mr. Nguyen has all the skills to be a successful business owner but he was lacking brand recognition to take his business to the next level. U7 was able to assist in and provide the business with a new logo and branding identity. U7 is also currently working on a web-site to display all his amazing art work and framing skills.

BEFORE

AFTER

GETTING READY FOR LIGHT-RAIL

With the light-rail construction in progress, the University Avenue Busi-ness Association (UABA) and Asian Economic Development Association (AEDA) are co-hosting a Getting Ready for Light-Rail Small Business Workshop on Thursday October 28th, from 2pm to 6pm at LifeTrack Re-sources, 709 University Ave West, St Paul. Off-street parking will be avail-able at 738 University Ave.

Presentation, information and busi-ness consultations will be available.Be sure to bring your financial records and other business docu-ments. Don’t miss this opportunity to meet with experts who will be able to help you organize all your information before construction starts.

For more information please contact: UABA Business Information Center @ 651.647.2276

UNDERSTAND CONSTRUCTIONIt is also important to understand construction plans to be fully prepared for the light-rail. A list of things to take into consideration as the light-rail construction is getting closer to occur-ing on University Avenue follows:• Find out when construction is scheduled for your block • Meet with Met Council project staff to identify access issues (customer access, loading, delivery)continued page 3, column 1...

continued...Collectively, U7 members have also provided more than 28,000 hours of

technical assistance to more than 1,200

small businesses.

Ultimately, with U7’s help a greaterpercentage of businesses will be retained on the avenue and break-even or make a profit during light-rail construction. This work will also lead to a broader strategy for sustainable small business development along this important corridor.

U7 PARTNERS:African Economic Development SolutionsAurora/St. Anthony NDCGreater Frogtown CDCSelby Area CDCSparcMetropolitan Consortium of Community DevelopersNeighborhood Development Center

U7 FUNDERS:Saint Paul FoundationBigelow FoundationCentral Corridor Funders Collaborative Federal Appropriations Award through Congresswoman Betty McCollum

U7 TEAM:

Listed from left to right: Marilyn Porter, Miguel Jongewaard, Isabel Chanslor, Sia Lo & Steve Olson

QUESTIONS?If you have questions about how you can utilize our services, or if you want to lend a helping hand please get in touch with us!

..the medium he uses for his portraits is derived from the smoke residue ofkerosene lamps..

”

“

Customized Framing • Fine Art Portraits

F I N E A R T S & F RAM ING

N G T

www.universityseven.org // universityseven@gmail.com // 651.379.8431 // Sept 2010If you would like to receive this quarterly newsletter directly please email: sialo@ndc-mn.org

NDC is the Host Organization for U7

www.ndc-mn.org

continued...• Work with neighbors to develop interim parking plans • Get emergency contact information for construction manager

PREPARE FINANCIALLY• Calculate “worst case” financial impact: 50% loss of business for 10 months • Establish construction savings account • Set up financial records to demonstrate construction impact• Schedule an energy audit

BUILD YOUR CUSTOMER BASE• Create customer databases with addresses, e-mail, phone #, etc.• Develop Web 2.0 marketing materials (webpage, Facebook, Twitter)• Consider incentives/promotions for construction phase • Notify customers about access at your business during construction

BUSINESS TIPSBRANDINGOne aspect of what we do here at U7 is called “Result Driven Marketing.” This service is centered on creating or enhancing brands for individual busi-nesses, identifying a business custom-er base and increasing that base.Branding is how a company is per-ceived by everyone, including its competitors.

Branding is a system of visual ele-ments working together to create a company’s visual personality. It is vital to a company’s success -- branding is what delivers your message, confirms your credibility, connects with your market on a emotional level and moti-vates your customers to become brand loyal and buy.

Here are some things that can help you to enhance your brand right now:

• Your business logo, store signage, print materials, ads, etc. should all be consistently branded to

strengthen your identity• Your color schemes should stay consistent• Include your logo in every piece of information to reinforce your brand• Have a professional looking website

that is branded with your logo• Keep your windows, glass doors and the inside of your store clean - it becomes part of your brand identity

FINANCIALWith the pending construction on Uni-versity Avenue, a greater need for busi-nesses to focus on the financial impact is becoming more relevant. Some U7 services are directed at helping small businesses prepare for construction by reviewing and understanding the financial implications. However, even without construction disruption, these business practices are important for owners to employ to help manage their bottom-line and analyze ways to be more efficient. There are four major categories to consider:• Implement or enhance bookkeeping and accounting systems.• Create budgets or review existing budgets for relevance.• Develop and/or update cash flow projections.• Analyze LRT construction impact on cash flow. U7 assists businesses in analyzing bookkeeping systems and automat-ing/computerizing the system(s). In many cases, a small business keeps only handwritten records. If you fall into this category, you are not alone. U7 staff has met with several busi-nesses who have expressed the desire to move to a computer based model of bookkeeping. U7 recommends moving to a computerized method for various reasons. The advantage of putting

books and records into a system like Quickbooks Pro or Excel is it allows the business owner to have a greater awareness of business performance, an increased level of accuracy, and a more robust reporting tool. The creation of financial statements is a breeze with systems like these in place. Addition-ally, it makes the annual tax reporting process more efficient for tax prepar-ers (sales/expenses). In addition to having a proper book-keeping system, creating an annual budget allows the owner to estimate both revenue and costs for the year so that he or she can align the various business outcomes with its short-term and long-term strategies. At a more detailed level, to help man-age monthly cash flows a cash flow projection can estimate cash receipts and disbursements over a specific time period. This allows the owner to develop different scenarios to test any strategic changes or projected external impacts that could affect the cash posi-tion of the business and ultimately, the bottom line. For example, if you know that the business needs to purchase a new piece of equipment in 6 months and there is no cash to pay for it today, you can set up a savings plan to have the funds you need in 6 months to make the purchase. You can also use this strategy to prepare for light-rail’s construction disruption. Creating a savings plan helps mitigate the risk of lost revenue during construction and you alleviate the need to scramble during construction to try and increase customer counts or lower costs in an already difficult environment. U7 can assist businesses to review their operations & apply skills they’ve learned to prepare for construction impacts and continue to thrive after construction. These practices are use-ful in analyzing business efficiency and to position it for long-term success.

www.universityseven.org // universityseven@gmail.com // 651.379.8431 // Sept 2010If you would like to receive this quarterly newsletter directly please email: sialo@ndc-mn.org

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African D

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