Newspapers / Winston-Salem Chronicle (Winston-Salem, N.C.) / Dec. 31, 1987, edition 1 / Page 2
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? Mona Covingl helping busin By ROBIN BARKSOALE Chronicle Sftt Writer The Minority Business Development Center it looking for serious-minded entrepreneurs end nnahiishcd business people to lake advantage of the services which the - r, pf. . center otiers. Mona Covington, a financial consultant at the center, said that not a lot of minority businesses are aware that the center exists. The center, which is funded by the Minority Business Development Agency of the United States Department of Commerce, provides counreting sendees that include the preparation of feasibility studies, martrning plans, accounting studies and help in securing smafl business loans. Covington said the center's services are available id minorities in the Triad. Most of the center's Winsion-Salem clients, she said, are Afro-American. The High Point center includes white-American women in its definition of "minority" but Covington said neither Greensboro nor the Twin City classifies white-American women as minorities. Budding entrepreneurs who come to the center usually begin with what Covington calls a feasibility study. "When clients come into the office and any they want to go into a particular business, we start with a feasibility study which will tefl us Hopkins cited t By ANG1E MARTIN If selling cars were an Otympic sport, Jacob R. Hopkins would certainly mthr his country praad. Hopkins is the ret em recipiem of the Gold Award, recognizing the highest level of achievemem in Chrysler Moiors/Dodge's Sales Professionals Club. , -! Hopkins, a sales representative at Colony Dodge, Inc. in Rtaaan-Saiem, ranks 74 our of 26,000 Dodge nslc mm through In the North Carolina and Sooth Carolina region, Hopkins ranks thud in selling new Dodge -i ? vemcies. New year is time By NTTA HiGGINBOTHAM MI look back at the financial even of 19871 can't help but wan. dnr what EJUS wiH bring, k is cermim in todays economy that there is fits or difficulties- If mr feel amsy About your current Ml or your financial future fop the New Year, you may be experiencing out or move of the problems of money-management. Most probfen mm from one or mare of the ttb?iB|UMK Differences in values conconing the use of money. No two people hater the same values. At PUMIHW Oft Hie.,. 8t7 W. Ubartj PWtH? BMBiS? Tha WHimuii gfm Cftronfc art Ptaaa anrt manbar of tbn. Aancttton, tha North Careflna P Ian. Sufcaat>onc ftrt.52 par yai artrtSKODtormtaMaandatoary M - Ente] ton is lesses grow if there is a market far their particular product or service/ she said. "But we also service people who are already in operation. Businesses that have been in operation for a while and have been pretty success* fill may want to expand or they mav need heto with their account ing system. We go over ail of that with them." But Covington said there's more to starting a business than meets the eye and that many people are unaware of what it really takes to begin a business. "It's not an overnight thing," said Covington, who has worked at the MBDC for a year. "Clients think they can go into business just like that. One of the biggest mistakes people make is not having enough working capital," said Covington. "Another problem area is with people not knowing what their products are." Covington, who has worked at the MBDC for a year, said some clients will come in and "they say they are in the 'computer area.' Does that mean he programs them, makes them, sells them or repairs them? What business is he in?" Another common misconcep tion, Covington said, is that money is readily available for small business loans. Covington said in actuality loans for small businesses often are no easier to obtain than regular loans. The center works with clients on preparing packages or achievemen yi *: m MM -v ? Jake Hopkins He has been employed at Colony Dodge since January to take stock ol marriage, values need to be diseased and differences resolved for wise use of the family's money. No long-term plans. People who spend money with no thought of tomorrow's needs usuaHy taevc a lower level of living when compared to what is possible wdhpfammug: aid wise decision-making Too many fixed expenses. Each fined expense taken by itaeif may not be very higft^ but when they are added together the total may be mom than can be paid. The overall pfcaar is often omitted and then overbuying occurs. Interest-earing debts. Credit costs. Several terge debts can eat da to published every Thursday I fSt atoBtogadtfisaa: Post Office Setose postage paid at Winston-S da to a charter member of the Ne Audi Bureau of Circulations, the teas Aeeixidton and the North Q v, payable in advance (North Cai niwDmoNUBPSNaoBt 4 rprise '*"*' '''"'TiKiNi fcita.' T 'i lafTTn jS ^ Mona Covington: "The money ism and pick it up" (photo by Mice Cunni to present to the banks for loans and will even accompany the client to the bank. But?4he said, it is incumbent upon the businessperson to 9ell themselves and their idea to the bank. "The money isn't out there where you can just go and pick it up," said Covington. Covington said small business* es and minority-owned businesses often suifcr from a lack of exposure, which ia usually a result of a lack of hinds. But she said organizations such as the Minority Business League are helping to increase the exposure that small businesses receive. "A Ibt of mom and pop operations don't have the money to go uui aim mraa ineir {mxmcis, snc Rease see page AtO \ flrr auto sales 1985. In 1986 Hopkins won both the Bronze and Silver Awards. ! *5 The key to Hopkins' selling success is fundamental. "Basically, it's just hard work, being aggressive and long hours," he said. "You must have patience and product knowledge and a desire so help the individual," Hopkins added. A good salesman should initially try to recognize the needs of the potential customer, said Hopkins. "You shouldn't think, how am I onma tn u>ll thic /??? " ?? wmmmmmm wj v?u f he said. The salesman should try to determine the customer's needs and interests first, Hopkins said. f your finances away dollars far a long time if only a small payment is made each month. Poor buymanship. Buying impianned or unnecessary items can result in a waste of family income or a sftnrtage of funds for already designated hills. / ? t mtfir of family participation and cooperation. Money management mutf bra family affair. A plan madh by the entire fonrily has a better chance of mm reding dam a plan made by orif one family member. Buying for one's pewanat sansfacdon without en?ktaiiiig. others can mean hardships financially and affleerrefetioiisftips negatively. by the WJnston-Safem Chronicle | \ box 3T54, VWnaton-SaJ?n, n.c. atom, N.C. 27t02. wsAnder service of the AesodatNational Newspaper Publishers roMnaOadt PubHaheia Aeaodenttna sates tax included). Please I I*. I I ?oXl II Custo out there where "you can just go g ogham). _ Ihm &reat V 100 s of patterns ! /^Sllooo*8 ?* roH* ^ HANUINU - REGISTER pHBBl [SKI Open Mon.-fri. 9:30 AM-8 PK ; VfSA I UaaffiM Sot 9:30 AM-S PM IS9S9 OPEN JAN. 1 I ~ , 4 , \ - , ' "M ? I I CALL7 RUTLEDGE 820 West R [ REGIST \CLASSES B ai SSS ? V TtMy OB^^lM I mers and friends: K^PMj^BiH I Season's mfl IB I Greetings DraMI I and ^IumbJBH, I 'Best Wis/tes B I for Christmas and S I tfie 9&iufear! H I Sincerely, ^aHpope^ Smartn'up You'll Love Our Wallpaper. We Guarantee It/. I 2835 Battleground Ave., Greensboro 288-9444 579 Huffman Mill Rd.f Burlington 584-9131 3244 Reynolda R., Winston-Salem 748-0127 job school | I COLLEGE I urth Street | | ln hat- ' * * fc-n MUVV EGW JAN. 5 I I
Winston-Salem Chronicle (Winston-Salem, N.C.)
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Dec. 31, 1987, edition 1
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