Growing up: want to start an artistic business? A creative incubator could be just what you need to come out of your shell

Entrepreneur, Dec, 2003 by Nichole L. Torres

Today, for less than $30,000, business owners can get their own standalone carts and sell barbecued items anywhere--from New York City to as far as the Middle East. In late 2002, the Pennys sold the restaurant side of their business to focus solely on the manufacturing side. And with Southern Yankee Bar-B-Q now estimating sales of nearly $l million this year, it seems starving is no longer on the menu.

Two in One

FINDING AN INVESTOR IS GREAT. BUT FINDING AN INVESTOR WHO'S ALSO A MENTOR? NOW YOU'RE TALKING.

THE FACT THAT INVESTORS BRING MUCH-needed capital to start-ups is a given. The fact that investors can bring even more vital advice and business guidance to start-ups, however, is less well-known. But for Kevin Chang, 40, and Larry Mana'o, 39, of Detto Technologies Inc., a provider of data and customized settings migration technology, bringing in investors meant bringing in mentors to help grow their business.

The Bellevue, Washington, entrepreneurs made a first round of funding in 1999 and 2000, during which they sought traditional investments. Then in the second round, explains Mana'o, "We were looking for investors who [could provide] a more practical [approach] and a reality check in terms of the business."

During this second round of funding, the partners looked for angel investors with the right business experience. Jeffrey Wu of New Sea Equities LLC in Maspeth, New York, fit the bill. Wu had owned and operated businesses in the past and had recently invested in another technology company, so Chang and Mana'o knew they'd found both the investment and the business wisdom they sought.

Wu and Michael Yung, also from New Sea Equities, felt the connection as well--and invested in Detto in 2001. "[They] really got us to focus on the operational side of things," says Mana'o.

"When we came in," recalls Yung, "we [told Chang and Mana'o], 'Focus on what will get you your revenue first.'" While other businesses were spending all their time and money on fancy management teams and operations, Wu and Yung advised Detto Technologies' founders to focus on revenue and long-term sustainability instead.

The investment-cum-mentorship relationship between Detto Technologies and its investors has paid off--Chang and Mana'o estimate $5 million to $10 million in sales this year.

Youthful Optimism

NEED A DOSE OF INSPIRATION? THESE STORIES ABOUT YOUNG, SUCCESSFUL ENTREPRENEURS WILL FIRE YOU UP.

SO YOU'RE YOUNG AND STARTING A BUSINESS. Ready to be inspired by the success stories of others just like you? Then check out Secrets of the Young & Successful: How to Get Everything You Want Without Waiting a Lifetime (Fireside) by Jennifer Kushell with Scott M. Kaufman.

Chock-full of stories about entrepreneurs (as well as businesspeople and writers/artists), the book will motivate you to get started now in accomplishing your business dreams. With helpful how-to chapters on topics such as setting goals, creating a network of business and personal contacts, and finding a balance between your work and personal life, it's the whole package.