11/6/2008 


So, you've got a big idea - big enough and convincing enough to start your own business.


But every time you pick up the newspaper, Wall Street looks like it's crumbling, credit is getting harder
to come by, and you're thinking: Time to endure the cubicle for a few more years.


Well, sticking it out at your current job is not such a bad idea, particularly if you're adamant about starting your own business, according to successful entrepreneurs.


However, they also said idealistic people can start a business in a down economy as long as they take the right steps.


That was part of the message several businesspeople gave a group Oct. 29 at Tröegs Brewing Co. in Harrisburg. The event was part of the "Dream it, Do it" lecture series sponsored by the Murata Business Center in Carlisle, the Harrisburg Regional Chamber and the Capital Region Economic Development Corp.


Keeping your job usually is a good idea when starting a business in any economy, said Wendell Hoover, founding partner of Green Street Properties, a Harrisburg-based urban real estate redevelopment firm.


"I would always recommend doing (the startup) part time at first, if you can," Hoover said. That gives you stable income to pay the bills and allows you to try your dream profession, he said. It may be twice as much work, but it's better than relying on an untested idea.


And don't get down on your chances of success just because factories are laying off workers and massive financial institutions are going under. The situation isn't as bad as it seems, business owners said.


"There always have to be some opportunities out there," said Chris Trogner, co-owner of Tröegs.


Those opportunities include financing from banks. While some big lenders are facing doom, small local banks are secure enough to make deals. That means there's money for entrepreneurs who have well-researched business plans. Credit is out there if you can demonstrate your idea will work.


While the economy is changing, it's still strong enough that people have confidence in the basic systems.


"I don't see anyone carrying around pigs to barter with," said Anne J. Aufiero, president of AdAbility Inc., an advertising agency based in Lower Allen Township, Cumberland County.


There are other ways to start a business and make it successful.Go after something with low overhead costs, said Michael A. Dillon, a commercial-banking associate with M&T Bank in Harrisburg.


Dillon knows from experience.


From 2001 to 2006, he operated a furniture-moving business in San Diego. Originally, it was a good idea, he said. But as the company got bigger and took on more expensive jobs, Dillon had to buy more insurance. Plus, moving sofas up and down stairs became physically draining. It became too much after a while, he said. Dillon sold the business to an employee in 2006.


If you want to start a business when times are tough, saving where you can is important.


"Think how much investment it would take to get into a business that requires a large building," Dillon said. "I'd roll light."


There are lots of ways to start a business with low overhead, especially given communications technology that wasn't available 10 years ago, Aufiero said.


"You could have a virtual office, and people would never know it's just a phone line somewhere," she said.


That would also give you the ability to work in your pajamas ... or underwear ... or bunny slippers, whatever you fancy, she said.


No matter what you wear around the home office, everyone agreed on the main ingredients for a successful company. You need a business plan - five years minimum. You'll still update it 10 times before the end of five years, Trogner said, but a plan will give you direction and focus.


You also need support, be it bank financing, consulting from an economic-development group or love from family and friends. Don't underestimate family and friends, Trogner said. When he and his brother, John, started Tröegs, family and friends volunteered their time to help brew and bottle what would later become one of Harrisburg's signature beers.


And you need passion.


The belief that you have a good product and you want it to succeed can help drive a startup from obscurity to success. That's especially powerful - along with a lot of coffee - when you have to put in long nights, Hoover said.


In the end, remember it's your dream that you're fighting for.


"No one is telling you to do this or do that," Trogner said. "Your future is up to you to create."