William Roy
Dec 20, 2009
The following is a Small Business Q&A compiled for the Shenandoah Valley Business Journal. Their questions and my answers follow.
Describe your business, and tell us how long you've been running it:
Immerge Technologies, Inc. is a full-service web design and software development agency founded in 2004. We help a number of local businesses establish a Web presence. We also provide complete, custom software for clients, who include Rockingham County Schools, Staunton City Schools, JMU and the federal government.
What prompted you to open your own business?
The founders of the company are all JMU alumni. We were in classes together, and we enjoyed working together, so much so that we began to do undergraduate research together. Our work turned into one sale to another university, helping us with the capital we needed to start our business.
What has been the biggest lesson you've learned since then?
I have learned the importance of finding talented people to hire and delegate responsibility to. I have been working on inserting myself into situations only when needed to provide guidance or set standards. I want a business that lasts longer than my participation in it.
What has been the biggest obstacle you've encountered, and how did you overcome it?
Our biggest obstacle was that we did not have the real world experience to match what we were offering. We had come directly from academia. We spent the first 3 years of our business taking projects more for the reputation than for the profit. Now, we are seeing the payoff.
What agencies or organizations have been helpful resources for you?
Some of the best support has come from groups like JMU’s Small Business Development Center. The SBDC provides a series on QuickBooks for new businesses. The local Harrisonburg and Rockingham Chamber of Commerce provides good networking opportunities.
What effect has the national recession had on your business, and why do you think that is?
This year, we have had the fortune of government clients. We were able to provide more benefits to our employees and add new team members. Our typically strong base of small business clients decreased a bit. Those that we did work with knew the importance of building their marketing in a down economy.
What advice would you give someone considering opening their own business?
Find trustworthy advisors with experience in your industry. Make sure you hire an account early on to help establish good accounting practices, so that you can track your progress. Hire a small business lawyer to make sure you have strong contract templates, and be sure to define your terms of service.