‘Tis that time of year, and while some may complain that Christmas—the annual celebration of Christ’s birth—has become overly commercialized, these holidays mean a lot to businesses that finally see accounting books change from red debt to black profit.
Our Weekly is also celebrating a special birthday—its 20th year in business, and as its owners can attest, it has been a rollercoaster ride. Many other local small businesses are willing to take that ride, their owners united by a singular belief in what is possible. Every storefront is an act of hope, as entrepreneurs seek clients and advertisers.
“The uncertainty of being in business is not for the weak at heart.” Natalie Cole Publisher-CEO OurWeekly.
“Making it through the collapsed economy in 2009, surviving the pandemic in 2020… it’s been ‘a hard row to hoe,’ as my grandmother would say.” Working at a Black business, especially one based in Los Angeles, has been exceedingly challenging, according to Cole.
“I think about our journey to this 20-year mark in five-year increments. We were doing fine through year five, though there were many challenges. As soon as we were in the mindset, ‘ok… it’s working; all will be ok,’ then we hit that financial meltdown in 2009.
“My attending a series of enterpreneurial courses at UCLA saved us, as it forced me to brainstorm on what I’d do in a crisis.” Cole said.
Through that UCLA Anderson School of Management program, Cole received a certificate and business knowledge she values to this day.
“I never told them how instrumental that series was for me,” she said. “We then had that foreseen crisis within 4-6 months. We got through it, limping for another two to three years.”
It took some innovation and pivoting to make it to this 20th anniversary of Our Weekly. During the courses, the entrepreneurs asked themselves what more they could do to grow the business and/or create a new line of business that would complement the core product.
“We launched the Antelope Valley edition and the West Coast Expo, and again we thought, ‘Ok, it’s working,’ and for another five years it did. Then Covid-19 struck.” Cole said.
“I’m saying all of this to say… one thing is for certain when you are in business, the uncertainty never goes away.”
Cole stressed that entrepreneurs need to be flexible and manage each situation proactively—customizing responses to each crisis, be it a collapsing economy, a civil unrest, or a pandemic. All crisis events will impact the willingness of advertisers and other consumers.
She additionally recommends continuing education to have a business succeed. In addition to her business management and economics degrees, Cole has attended numerous seminars, workshops and classes to shore-up knowledge and gain exposure. Prior to establising OW, she especially found SBA and SCORE valuable in that they continue to offer a variety of impactful business courses. “Those [courses] are really underrated.” Cole said.
“I am never too old to learn something new and useful.”
Previous to starting Our Weekly, both Cole and her partner, David Miller, received training in leading revenue-generating teams for the Tribune Company. When they were employed at the L.A. Times, it was the number one newspaper in the country and the company believed in investing in its management team.
“To be frank with you, I had worked with so many other publications for so many years; my thoughts were, ‘Could the grass be greener on the other side?” Miller said.
“God made a way. There was some blood, sweat and tears.”
He continued, “Sometimes when launching a new biz, you don’t think about the possibility of there not being enough money to pay yourself,” Miller added, noting that the first five years were especially challenging. “Making sure employees are taken care of and bills are paid was tough. Thank God for the ability to set aside some reserves.” The publisher noted that despite the partners’ good credit and collateral, they were not able to get any start-up funding whatsoever. At the time, many banks and investors felt newspapers, especially new ones, would not survive.
Cole and Miller had to begin Our Weekly using their out-of-pocket funds. “We persevered and continued to move forward, and we grew.” Miller said.
Adding that the pair were able to generate a million dollars in the first year, based on local business alone. “We were able to garner a lot of advertising dollars by being persistent and having confidence.” Miller was ecstatic about Our Weekly’s accomplishments during the business’ first year running.
“For us to be able to do that during our first year spoke volumes,” Miller added. “The first publication that came out, we looked at each other in awe, due to the fact that we actually made it happen. We laughed out loud.”
Another entrepreneur, Gene Hale, began his business nearly 40 years ago, and in addition to presiding over G & C Equipment Corporation, he serves as the chair of the Greater Los Angeles African American Chamber of Commerce (GLAAACC). He agrees; starting a business takes a great deal of capital.
“African Americans have been historically underrepresented in business, and receiving access to cash—that’s one of the biggest problems for start-ups.” Hale said.
“Lack of access to capital—that’s the key right there.”
Along with high interest rates, businesses that particularly wish to contract services with city or county governments suffer even more, according to Hale, who noted that he recently had a conversation with Mayor Karen Bass regarding small businesses contracting with the city.
Often city requests for proposals (RFPs) tell large, principal contractors that they want to meet their goals by subcontracting veteran, women and local business hires. “But they’re not asking them to reach out to minorities, too.” Hale said.
“We get left out of city contracting opportunities. The term MBE (Minority Business Enterprise) is not even in the conversation anymore.” Even though cities emphasize small businesses, a lot of times, those are not minority-owned.
“Those small businesses don’t look like us,” Hale said. “We’re still getting left out. I’ve been in the business so long. Something more realistic has to happen.”
Over in Windsor Hills, CJ’s Elegance has been standing strong in the community since 1969. Residents of the surrounding “Black Beverly Hills” area have been actively supporting the small women’s boutique throughout the years of challenging events such as the 2008 recession and the COVID-19 pandemic, according to owner Carol Jo Shaw. “We’ve been in business for 55 years.” Shaw said.
Noting that her shop and other independents are grateful to American Express’ Small Business Saturday events. “We have been a participant since the start, 20 years ago.”
American Express card customers receive notes in their statements, encouraging customers to visit independent, neighborhood stores in their communities. Shaw studied fashion at LA Trade Technical College and merchandising at UCLA. The Slauson Avenue shop sells unique and one-of-a-kind looks that are cut to compliment every curve, a craft Carol honed working as a buyer for major department stores. “C.J. ’s has its own style, its own following.” Shaw said.
“You can tell our brand. Most of our stuff comes from the East Coast—expensive fabrics, timeless fashions. We actually curate fashions for our customers.”
Nevertheless, the moderate- to-high-price-point store has felt the sting of the online shopping craze, along with every other business.
“Now, you’ve got the internet and can more or less shop around the world.” Shaw said.
“Our clientele is really not an online clientele. Most of our clients want to touch and try on the fabrics. We have that competition, where we didn’t have it before, but it hasn’t affected me as much as other businesses.”
Needless to say, Shaw is a firm supporter of shopping locally in her fellow entrepreneurs’ storefronts. “Don’t leave them out when you go shopping.” Shaw said.
On the first Monday of December, Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA), ushered in the SBA’s second-ever Season of Small Business campaign.
“The holidays are the busiest time of the year for so many small businesses that rely on the surge to meet their annual revenue goals.” Guzman said.
“Whether you’re shopping for gifts online from a family-owned boutique or warming up over a hot cocoa at a local cafe, two-thirds of every dollar spent at a small business goes back into your community.”
The SBA notes that small businesses are responsible for more than 40 percent of America’s economic output and two-thirds of net new jobs. In the last four years, there has been a small business boom with more than 20 million new business applications nationwide—a record high for any single presidential term.
“As families across America gather together to enjoy this special time of year, the SBA encourages everyone to power their dollars with local impact by shopping, dining, and entertaining small businesses throughout the Season of Small Business.”
As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, or expand their businesses or recover from a declared disaster.
“To some extent, I think a business owner has to be someone who will be the last one standing and fighting to survive.” Cole said.
For more information about the SBA’s Season of Small Business campaign, visit www.sba.gov/SeasonOfSmallBusiness. To learn more about the SBA’s loan programs, financial assistance, and other services, visit www.sba.gov.