From cash-flow management to profit-sharing: How one business found stability in partnership with the Northwest SBDC
As they fulfilled a dream in purchasing and taking over the operation of Stellher Human Services, the current owners embraced the opportunity to continue helping families and children with crisis, counseling, and stabilization services.
What they found, though, was that their passion was truly in helping others – not necessarily in running the business side of things. They had some good years, but they were starting to realize that while revenue was good, managing cashflow and business operations was challenging.
Enter Grant Oppegaard. Grant is a longtime business consultant with the Northwest Minnesota Small Business Development Center, hosted by the Northwest Minnesota Foundation.
Grant advised them on implementing changes, including a focus on hiring staff passionate about managing cash flow so the owners could continue focusing on providing great mental health services to clients.
In the years since Grant began working with Stellher, he has been a consistent resource with whom the owners can discuss ideas and challenges. Because of Stellher’s continued success – and in appreciation for Grant’s knowledge and expertise – Stellher now is currently working to develop a profit-sharing / bonus plan to help reward staff for their efforts.
The owners have now become advocates for the NWSBDC and frequently refer colleagues and fellow business owners to the SBDC and to Grant for his expertise.
To learn more about Stellher Human Services, visit their website: https://stellher.com/
To learn more about the NWSBDC, visit its website: www.nwsbdc.org