Level up: Pro tips on taking your small business to the next level

Small business owners, in the scramble of the daily grind, need to take time to strategize about taking their businesses to the next level, according to entrepreneurs who’ve been there.

They offered their advice to small business people and economic development officials during a panel discussion at WEDC’s 43rd annual MARKETPLACE Wisconsin conference in Milwaukee Dec. 11-12.

While it’s easy for small business owners to get caught up in the hubbub of surviving, the panel  provided insights on how to thrive.

Jose Reyes, owner of CMJ Electric, a growing electrical contracting business in southeast Wisconsin, urged business owners to listen to others who have been in their situation and learn what works and what doesn’t.

“You want to be profitable? Take a business competitor out for lunch,” Reyes said. “And once you learn a million dollars’ worth of education, take out a business person who has failed. Learn what not to do. Reach out to communities, reach out to organizations.”

Reyes also urged outreach to banks to learn about financing requirements and tap the insights of employees. “And don’t forget about your family. They’re the most important. So makes sure to reach out to them and talk to them. They will give you the motivation that you need every day.”

Paying attention to financials was the key for Adam Skenandore, president of Anasa Traffic Control Services. Financial success, he said, grows from knowing your product and being passionate about it.

“Don’t think you’re going to get rich quick. It takes a long time,” he said. “And any money you do make, whether it’s large or small, invest it back in your business. We see smaller businesses fail because they don’t do that.”

Skenandore, who worked his way up from being a traffic flagger to starting his own firm in 2021, said patience is also a virtue. “You’ll be successful one day, but on average that’s five to seven years, if not longer.”

But risk is also an important part of path to success. Allana Randall, a Madison artist and owner of Ten by Ten, said taking on challenges in a deliberate way can help fuel growth.

“For me, it’s been a series of taking small risks along the way,” she said, noting that her business recently branched out into painting murals for clients and has had success selling glassware. “Receiving larger shipments is another risk I have to take, but it’s calculated.”

Tennisha Loggins owns Beloit-based Loggins Family Business, a combination of Snacks and Stuff Food Truck and Catering and the Loggins Cleaning Service. For her, success lies in weighing whether the business is worth the time she invests.

“If you keep coming back to ‘yes,’ stick with it because you will make income.” She said.

Loggins also emphasized the importance of education and seeking out resources—many of them available at no cost—that can help lay the foundation for success. Seeking out a mentor or a coach is also essential, she said.

Nas Laine grew up in East Africa, watching his mother make dresses. Today, he applies his knowledge of textiles and fashion as owner of NL Suits, a custom clothier in Milwaukee’s Third Ward. He said a long-term plan is key to success – along with a moral compass.

“Be ethical,” Laine said. “Be godly, don’t be worried, be patient because it definitely takes time. And go for it. You can go from failure to success, but you can’t go from excuse to success.”