We’re excited to introduce you to the always interesting and insightful Michelle Shattuck. We hope you’ll enjoy our conversation with Michelle below.

Hi Michelle , thanks for joining us today. We’d love to hear how you think where to draw the line in terms of asking friends and family to support your business – what’s okay and what’s over the line?

Asking for support is never wrong! the way you go about it . . . can be. I’m a firm believer that your biggest advocates when it comes to your business and professional development are your friends and family. That being said never in the history of being, owning, or starting a business will a family member not ask for that special discount. Often times our biggest cheerleaders can forget decorum when it comes to owning a small business. It’s appropriate to only buy things when they go on sale but it isn’t appropriate to ask for a discount. What I practice and preach to my clients is this, if you had a traditional 9-5 hourly wage you’d expect to be compensated for every hour you work. When you become an entrepreneur that time is trickier to calculate if you don’t consider the time you’ve invested to create any product. For example, If you sell baked goods not only do you have to calculate the time it took you to make that one item. But you also have to calculate any time you spent on the design and flavor profile of said item as well as the time spent purchasing the products to make it!

Great, appreciate you sharing that with us. Before we ask you to share more of your insights, can you take a moment to introduce yourself and how you got to where you are today to our readers.

For the last 5 years, I’ve worked with small business entrepreneurs at The Alliance for Multicultural Community Services in Houston. We offer all-encompassing one-on-one technical assistance to all entrepreneurs in any phase of the small business journey. The Technical Assistance covers business plans, cash flow projections, marketing, business development, and financial literacy. I launched my small business earlier this year (SmallPeopleStudy) on Etsy. The goal was to provide my family with supplemental income and use it as an educational tool ( in my personal and professional life). I design digital prints in English and Spanish for parents and students. Currently, I’m working on launching my second company SPSGrantSolutions, where I offer services in my field that help build infrastructure and capacity within programs in nonprofit and for-profit businesses that focus on development, funding/award assembly, facilitation/implementation of program or project, strategizing and marketing. I’m most proud of the network I’ve created here in the greater Houston community. My reputation as a coordinator, my work with entrepreneurs has brought me places I never thought possible. It’s easy to feel like you don’t belong in rooms with “heavy hitters” who have 10+ years of experience in the field. But the main thing I’d want potential clients/followers/fans to know about me, my brand, and my work is to surround yourself with like-minded individuals, be a part of the conversation, and go to those rooms where you feel like you don’t belong. Only then will you always find success in life.

Are there any books, videos or other content that you feel have meaningfully impacted your thinking?

Yes Rich Dad Poor Dad by Robert Kiyosaki, Sharon Lechter, It’s a great book that I feel helps people understand what financial literacy is and how to apply it to your everyday life! LinkedIn is a great resource to have I tell all my clients no matter how big your network is or how small start a profile and get connecting!

How did you put together the initial capital you needed to start your business?

I advise clients to exhaust all opportunities for initial funding and capital injections for the underwriting process and be clear and concise when seeking funds. The Alliance SBA Program receives many funding requests, and unfortunately, we cannot service every case. Files that stand out are prepared effectively and concisely. If you are seeking Capital, have a document stating why and what you are seeking funds for. A simple Word document or Excel sheet with the itemized breakdown of the needs and costs of your business is vital for the underwriting process. It doesn’t have to be fancy or complicated just a simple document that showcases your need. Other options available to small business entrepreneurs in the city that aren’t always granted are called alternative lenders. The Alliance for Multicultural Community Services is one of few located in the greater Houston area. You can find our information on the SBA’s website and a list of other alternative lenders who, unlike traditional Financial Institutions, will lend based on credit behavior, not credit history. Lastly, never fall for quick cash scams, it is important for any individual who isn’t familiar with banking or Financial Institutions to understand speedy cash/loans don’t exist. I cannot express my distaste for predatory lending enough! they can and will sink your business before you can even succeed.

Contact Info:

• Website: https://www.etsy.com/shop/SmallPeopleStudy?ref=shop_sugg_market
• Linkedin: www.linkedin.com/in/michelle-shattuck-
• Other: https://brand.page/spsgrantsolutions

Image Credits
Jenny Adrien