Some people casually listen to Dave Ramsey’s advice. Others, like Jennifer Kolberg, live by it, both personally and professionally.

Jennifer began her small business journey embroidering and customizing gifts from her Allendale home. When her side hustle grew into something bigger, she quit her human resources job and opened a retail gift shop with a broadened assortment, SHB Gifts & Decor. When the sales doubled she knew she needed more space for her business, but vowed not to move until she could fund it with the sale of her current building. 

“I learned the building across the street from me was going up for sale, and decided it would be perfect. Within 15 seconds of that moment – literally – someone was at my door asking if I’d like to sell my building, which we ultimately ended up renting out. It was crazy, but I believe things like that happen for a reason,” said Jennifer.

With the bulk of funding in hand, Jennifer wanted to ensure that the move would make financial sense and to offset the increased overhead with increased sales. She turned to the Michigan SBDC, hosted by Grand Valley State University, and met Senior Business Consultant Marie Elliott. Marie helped Jennifer run the numbers, enhance her online marketing presence with market research, and refine her “elevator pitch” for the business.

“Marie’s been a great resource and was the first person I talked to about buying the building. She’s a wonderful sounding board and great with financials. We’ve been working together for years now, and my business has passed the important five-year milestone,” said Jennifer. 

Her advice for other entrepreneurs: “Save first. Have a financial plan. Do your homework.” Dave Ramsey would be proud.