08/14/2018
First off I would like to say thank you to Nav for giving me the opportunity to share my story and plans for the future, as well as a chance to receive $10,000 to help me do so. ;)
The Birth of Status Enterprise LLC.
Opening a business was never on my to do list when I was younger. My upbringing didn’t have goals of becoming the CEO of a company nor did it include saving the environment. But thankfully, things change.
I started out as a young man with many hardships and little resources; jumping from job to job, moving from place to place, seeming as if I was stuck in a never-ending circle like most. I was a Jack of all Trades, but a Master of none. I was getting tired of the monotony that life has been throwing me like scraps to a starving dog. There was a Fire in my Existence to change this; to break away from the idea of working for nothing and not really leaving my mark on the World where my Children would be left to grow up in. Oftentimes I was left with computers as payment for doing odd jobs and needed to figure out how to make money off of them to survive. Naturally, I had the idea to fix them and resell them. I had a knack for computers even though I was self-taught and my lack of formal education would not stop me. So, I figured what the hay; at least I'll enjoy this.
Unfortunately, it seems they were quite outdated and a tough market throughout to compete with. So, I took my licks and kept on trucking. My next idea was to recycle the metal and make whatever back possible; figuring something was better than nothing all in all. While at the recycler, I decided to ask if they bought the electronic boards inside of computers for anything and he said YES. Shocked and in dismay, I was so beside myself that I recycled the boards without a second thought. Later, and after some research, I come to find that the value of the boards was much higher than what I had received, even as a recycled scrap item. So, I came back with more computers and argued my case for more money on this trip, and got way better results. VOILA! It happened... the Spark...
Over the next few weeks, I scrambled to gather more as if an obsession had overcome me. I stayed up for many late nights. I shredded computer case after computer case. I watched video after video. I started to learn the market for electronic scrap and saw that there IS a demand for someone with my exact skill and passion. I came to the realization that if I enjoyed what I was doing, it would never be a "job". I had reached a point after uncountable trips to flea markets, offices, and local call centers where I now had people reaching out to me to sell me (or even GIVE me) all of their unwanted items. I finally settled with a local recycler on a fair price value where was making a profit AND saving the environment AT THE SAME TIME!
As much as that brought me peace financially, it was becoming too monotonous and it didn’t really solidify enough to build off of. So more had to be learned. The next step, was the importance of a business to back your name. I learned how to open a business and began learning credit. To my amazement, I noticed how the benefits of properly opening up a business could result in more profit and less loss. Finally, it was time for the next step. I finished my High School Diploma and established Status Enterprise, LLC. But this turned out to be quite costly compared to my previous ventures down the rabbit hole of electronics recycling. So, I started to look for help from those who know what they are doing when it comes to business.
The ins and outs of my business.
How my business works is quite simple. I take money (mostly my own) and purchase computers/electronics and/or rent trucks to pick up said computers/electronics. Once I get it back to my work space, I go through each on to find out what works and what doesn't, remove all the data to ensure the privacy of the previous owner, and then either resell working items or bring the unusable parts to the recycler for a value determined prior. Overhead is low and prices for buying as well as selling have been basically stable enough for me to keep a 50%-100% gain from what is spent. My next steps are to reach a point with creditors to be able to make larger purchases for less and to be able to accept cash AND credit from clients which would allow for quicker turn-overs and higher revenue built up. I can then use the profit to cover my already low overhead and even hire staff in the future, all while not disrupting the cash flow circle. When I can get my revenue to reach certain amount I will be able to establish my CCR number and hopefully be established enough for a government contract through the SBDC. This is the foundation point I feel is necessary to stand on if I am to take it to the "Next Level".
My plan
I plan to use the $10,000 to do many things. This includes buying a small truck/van. With a truck, I can save on the high costs of renting each time and increase my ability to do larger pick-ups and drop-offs as well as being able to meet the demand of larger companies that would otherwise need to pay a business similar to mine to recycle their electronics (but my services are free!). I also want to establish proper credit with vendors by locking in trade lines needed for Paydex scores and beyond. With credit from vendors, I can balance the cash flow circle of not having the money to make a purchase while money may be tied up in transit or storage waiting to be collected or even clearing the bank account. This is in my opinion the biggest key to a successful business as far as I can see. I need to buy the proper tools as well. With the proper tools, I can recover more usable items within each device in order to sell them back on the market and creating less unnecessary waste. To increase my recognition with customers and vendors, I also need to work on my branding and marketing. I can finally pay a web developer to develop and host a proper web page with the ability for my customers to make reservations online while I can focus on the technical aspects of the business more myself. This would allow me the time to come up with the logo needed for branding as well as recognizable uniforms needed for becoming a familiar face. I also want to be able to employ others, especially the underprivileged, in the future. And lastly, I would use the money to cover myself when it comes to taxes (both for the grant money received ;) and the business). It comes as no surprise there are taxes that will be incurred as a business is very much a give and take. I plan to keep a portion of this in an account to make sure my "behind" is covered from the "you know who." >.<
The challenge
The challenge I am currently facing is simple. It takes money to make money. I started with very little money but a drive that would take me where I needed to go. The simplicity of a low overhead makes this achievable in time. The grant money would allow me to speed up this process.
My hope for the future
One day I hope to open a non-profit to teach poverty-stricken youths the value of small business in America and many of the things that I feel were missing in our basic educational system. In short, the future is what we make it. I plan to make it beautiful.
Thank you for allowing me to share my story once again. Hopefully you'll be a part of it! :)
Mark Camp, CEO
Status Enterprise, LLC.
(Pictured below are 2 Beautiful custom jobs I worked on that were saved from the dump as well as the 2 Beautiful faces that remind me "Tomorrow Matters".)
