Entering a new decade is so exciting, it’s daunting. 2020 is here. It’s a good time to take stock of opportunities around us. Let’s talk business in the steppers community with Randall Avery! How can steppers leverage and find opportunity in the huge network of the stepping community that we have created for ourselves?
I met Randall Avery on the steppin’ dance floor in Atlanta. He started steppin’ about 11 years ago and his first class was with Sarah Teagle at Several Dancers Core. Randall is a financial advisor and in our interviews, he recognizes the steppers’ economy and unveils opportunities for steppers. When he isn’t on the dance floor steppin’, Randall is out in the community helping people. He advises on cash flow management by helping individuals to budget and curb spending. Randall also offers financial planning to help people transition to retirement, getting married, investing, and entrepreneurship.
When should a stepper recognize I am “in business?”
I think once you move past the hobby point and you want to make an impact. If there is an actual profit motive then I think you need to think of your activities as a business. When you think of it as a business you should have checks and balances to sustain your business for the long term. Also, make sure you are customer-focused.
What are some examples of business activity in the steppers community?
Most people think of the promoter and DJs when they think of the steppin’ business. Some other businesses you may not notice are individuals who set up tablecloths, jewelry businesses, people selling cupcakes and other snacks inside the steppers set. We even have some people sell food, set up dance floors, and venue owners from who we as steppers rent facilities. There aren’t so many things that go into play to make a steppin’ event work and enable us to enjoy the dance we love. For example, you could be hot on a set one day and really, really want a fan to cool yourself off. You are so thankful a fan vendor is selling a fan at a time at the price you can handle. It’s all about the steppin experience and what can make it better.
Tell me three key steps to starting your business.
- Interview your ideal clientele. Have 100 cups of coffee with those in your industry and with potential customers. Learn from them to improve the business you want to start.
- When you have a niche you can learn your clients. In behavioral health they have specific things that they do. They go to school for a long time so they may have a lot of student loan debt. They appreciate the value of hourly time which means they indirectly appreciate the value of my hourly time. Having a niche will help people who want to do business in the steppin’ community.
- Set up the ‘social footprint.’ Make sure you have an active blog, Facebook page and website.
- Try to sell your product at a market rate. Don’t undercut your prices just because you are just starting out.
Is there opportunity for 501c3 in the steppers community?
I definitely think there is an opportunity and I see a lot of people that try to go that route. People should realize that non-profits have as much administrative burden as a regular for-profit business and potentially more. When you have a 501c3 you have to consider the extra work of managing donations on top of services provided. It is kind of like running two different businesses at the same time. This forces you to really be on top of things.
Talking to different non-profits, I understand it is different from just running a general business. Without the proper setup and groundwork, people run out of funding and services are not what people expect and/or not what they want to provide.
One of my desires of the stepping community when you look at doing business in the steppin’ community you really need to look at the opportunity to expand or grow. Look at each steppin’ community and tailor your services to the desires of that community. Businesses in the steppin’ community should focus on growing our community. Actually, bringing people who are not steppers to become steppers. If we grow the pie I truly believe everybody can eat and we can have more business flourish in the steppin’ community.
Thank you Randall for the candid insights on steppers business opportunity and for sharing your point of view. This only brushes the surface. Readers watch out for part two of our conversation when we talk about Personal Finance.
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