Episode 3: Fund Your Dreams - Turning Your Business Ideas into Reality

VyCast Episode 3- Fund Your Dreams-Turning Your Business Ideas into Reality

Featured Guest

David Walton

David Walton is the SVP of Commercial Services at VyStar. He oversees all aspects of Small Business and Commercial lending operations. David has more than 30 years with large Commercial Banks such as Bank of America and Regions Bank prior to coming to VyStar. A native of Florida, David has a unique perspective on the needs of the local small business community and how VyStar lending products can help support a strong local business environment.

Guest

Kemal Gasper

Kemal Gasper serves as Vice President of Community Engagement at VyStar Credit Union. Kemal’s dedication to serving the community goes far beyond his role at VyStar. He believes in investing in people, developing authentic connections, building a strong culture, being innovative and thinking strategically to achieve the best outcomes for the community. His dedication has been recognized by the Jacksonville Business Journal’s 40 Under 40 list in 2017, Buzz Magazine's Top 30 Under 30 and the Florida Black Expo Top 20 Under 40 in 2016. Kemal currently serves on the Board of Directors of Leadership Jacksonville, Changing Homelessness, KingSoutel CRA Advisory Board and The JAX Chamber Hightower Fellowship. 

Sarah Kurtz

Sarah Kurtz is the Volunteer Engagement Coordinator at VyStar, responsible for employee volunteerism across the company footprint. Her detail-oriented and enthusiastic approach to community giving resulted in nearly a 150% increase in volunteer activation last year. Sarah has over 10 years of experience working in the nonprofit and public sectors, including the National Multiple Sclerosis Society, Can Do MS and the Florida Department of Health. She is passionate about matching employees with volunteer efforts that align with each individual’s passions and interests to drive sustaining, impactful change. 

Highlights

  • It is important to have a solid business plan and understand your market before launching a business.

  • It is common for entrepreneurs to use their own personal funds to start a business, but other financing options include income from another job, borrowing from friends and family, bank loans and credit cards.

  • Crowdfunding and investor funding are not as common as one might think for starting a business.

  • It is crucial to have enough capital lined up before launching a business, as the first two years are often focused on investing and building the business rather than making profits.

  • Sometimes, the best decision for aspiring entrepreneurs is to start their business as a side project or hobby while maintaining their current job.

  • The internet provides a valuable platform for finding customers and creating a customer base for a business venture.

  • Successful businesses must have a product or service people want and are willing to pay for.

  • Conducting focus groups and testing products/services outside of friends and family can provide valuable insight into market demand.

  • Franchising can be beneficial as it provides a proven business plan, operating model and existing marketing support, making it easier for entrepreneurs to enter the market.

Download the audio version of this episode on Buzzsprout.

The content provided in this podcast consists of the opinions and ideas of the creators alone and should be used for informational purposes only. The opinions expressed should not be considered legal, financial, or tax advice, and are not meant to replace such advice. VyStar Credit Union is not responsible for any losses, damages, or liabilities that may arise from decisions you make based on the information provided. The opinions expressed in this podcast are those of the guest and not VyStar Credit Union or its management.