John Favorite, Owner
Hot Springs, Arkansas
When John Favorite initially contacted the Henderson State University Small Business Development Center in 2005, he and his wife, Marti, had recently acquired the business. They sought assistance to increase profitability and to put systems into place to put them on track for business success.
John had an engineering background that made him the perfect fit to oversee the technical aspects of the business. With experience in web design and management, Marti handled the sales and design.
John attended several seminars and workshops offered by the Small Business Development Center. "I highly recommend the training offered by the SBDC. It really gives some fundamental tools to use in managing and growing your business. The training helped me identify areas of opportunity in my business and helped me develop strategies to address those opportunities."
John and Marti worked with Michael Singleton to identify areas of the business that might be changed to increase profitability. They worked together to identify unprofitable inventory and developed a plan to increase cash flow by reducing the amount of non productive inventory on hand.
John and Marti also wanted to increase the effectiveness of their marketing strategy. To accomplish this, they worked with a group from Dr. Anita Williams's graduate marketing class at Henderson State University. "Working with the student group was very rewarding. I gave them some information about my business. They took it and developed a marketing plan with some really good suggestions that I've implemented."
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