Feb. 10—For many people, owning and running a business is a part of the American Dream.

But the starry-eyed hope to become a successful business owner or entrepreneur is an endeavor that's about more than pulling oneself up by their bootstraps.

Planning, passion, perseverance and community support are all key ingredients for those who want to be the boss of their own operation.

The Gazette recently interviewed several Colorado Springs business owners and organizations, who shared their pitfalls and advice about starting and running a business:

Start small, dream big

Before Torie Giffin opened Buffalo Lodge Bicycle Resort, a Colorado Springs hotel geared toward bikers, she didn't have a property, she didn't have the capital, and she didn't have experience in the hospitality industry.

All she had was a big idea.

"It started with a passion, and then just an awareness of current trends in our community," Giffin said.

When Giffin went into her first meeting with angel investors, she brought a massive scrapbook of pictures and ideas she had for her hotel. One of the meeting attendees suggested she leave the scrapbook at home. But Giffin knew her vision.

And a vision is exactly what Mash Mechanix Brewing Co. owner Leif Anderson said any successful business needs.

"You have to have a purpose, it has to be more than just building a business or making money," Anderson said, "because those are the last things that are ever going to happen. They come way later down the road."

Anderson said he spent three years in the dream stage of imagining his business before he ever set foot into the journey of launching and running it.

When it does come time to launch a business, Tint Technologies owner Paul Hasty said starting small and scaling up is the best way to build momentum.

Hasty has served the community with his window tinting business for 22 years. But when he began his business, it was inside the confines of his home garage.

"I bought a roll of film and the tools," Hasty said, "and I did it out of my car in my garage until I had built up enough cash to have a reserve."

Know your customer and product

Understanding buyer psychology and the needs of customers in the community is a key component of a successful business, said Steve Imke, a Pikes Peak Small Development Center consultant.

Building relationships with buyers and gaining customers' trust is essential, Imke said.

That was certainly the case for Hasty.

"You need to know what your customer desires, wants and needs before you even start to address it," Hasty said.

Networking is one way prospective business owners can understand those needs, Hasty said. Whether it's through a community group or personal connection, networking helps build relationships and gain customers' trust.

Marketing is another important way that businesses can share their story and begin to build that relationship.

"There's an adage that says for every hour you spend developing your product you should spend an hour marketing it," Imke said.

For Anderson with Mash Mechanix, part of his message has relied on the local nature of his product, something his customers appreciate.

"Every product we make is made here in house by us, by the staff," Anderson said. "(There's) huge staff involvement in not only the manufacturing side, but also the customer side as well."

Art of patience, pivoting

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When Shirley Kell took over ownership of Pikes Perk Mountain Shadows, a cafe on the northwest side of town, no one told her a worldwide pandemic would hit three months later.

Kell, who had been a manager of the cafe, had to learn in real time how to adapt the business in the face of adversity — a skill she recommends to other entrepreneurs.

"I've always been good at pivoting, and that's probably why I survived," Kell said.

Whether it was staffing, hours or recipes, Kell found a way to weather the financial storm of the pandemic and now-rampant inflation.

"It's been a great ride — but it's been like a crazy carnival ride," Kell said.

Giffin said she has learned to be patient with her business and persevere even when things get rough.

"In the last 6 1/2 years, we've invested 100% of the profits back into the hotel," Giffin said. "My partners and I haven't taken a dime of profits yet."

Giffin said the financial investments others have poured into her business are something she takes very seriously. That is why, even when her personal life seemed to crumble in a divorce, she kept forging ahead.

"I had won Woman of Influence in 2019," Giffin said, "literally on the same day my divorce was official in court."

Community resources

When times do get tough, as they inevitably will, and even when they're not, community resources can be a lifeline for new businesses and a boon for well-established ones.

The Pikes Peak Small Business Development Center offers free consulting as well as workshops to help startups and prospective business owners establish the tools they need.

"Take the time to learn the business," said Shaula Denton, consulting coordinator at the local SBDC, "like coming to small-business development center workshops and being humble enough to take advice or guidance from mentors."

Kell said she received mentorship and funding through Exponential Impact's Survive & Thrive Program, a service designed to help with recovery from the economic damage caused by COVID-19.

Meanwhile, Giffin said she received a Small Business Administration loan.

"That was an amazing way to go, getting a small-business loan," Giffin said. "Everybody should pursue that."

Tax credits are available for downtown businesses through the area's enterprise zone, said Austin Wilson-Bradley, economic and community development manager for the Downtown Partnership of Colorado Springs. Likewise, building enhancement grants are available through the Downtown Development Authority.

Other resources that businesses can take advantage of are the city's business road map and Access COS, a free business platform, Wilson-Bradley said.

Giving back

The act of giving is more powerful than receiving.

The owners of Tint Technologies, Mash Mechanix, Pikes Perk Mountain Shadows and Buffalo Lodge Bicycle Resort all have seen it.

By offering free service and products, employers can train staff and hone skills in a welcoming environment, Hasty said.

Making money can't be the driving force of the business, Hasty said: There has to be a bigger purpose.

"Our business is to be a blessing to the community, by giving our services out for free" Hasty said, "and expecting nothing in return."

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