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Clackamas Review, Wednesday, October 30, 2013
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WHO’S WHO
Local Business Profiles
448390.103013 CRWW
The North Clackamas County Chamber serves businesses in
Damascus, Gladstone, Happy Valley, Milwaukie, the unincorporated
areas in between, and neighboring Southeast Portland.
These communities are rich in opportunities to live, work, and play.
The North Clackamas County Chamber of Commerce engages the
business community to enhance a vibrant regional economy by advocating
for a pro-business platform, offering educational opportunities, and
providing networking and marketing opportunities. To learn more about
how your business can benefit from Chamber membership, contact us at
503-654-7777 or yourchamber.com. Together Everyone Achieves More.
Learn more about TEAMNorth Clackamas today!
503-654-7777
GET SIGNED UP
GET ACQUAINTED
GET NOTICED
The North Clackamas County
Chamber of Commerce promotes the interest
of our collective business communities.
The North Clackamas County
Chamber of Commerce.
Promoting for a Strong Local Economy.
450091.103013 CRWW
Karen E. Carroll, MBA
7736 SE Harmony Road, Suite 172
Milwaukie, OR 97222
When a startup business comes to the Small
Business Development Center (SBDC) Karen
understands that they will need funding from a
financial institution to get their business going.
She approaches the business from the financial
standpoint first. Before a business looks for
funding, they need to determine if it is a fea-
sible plan. Karen counsels the client to explore
location availability, rental rates, and market-
ing activities, especially everything you need to
know about customer demographics. The client
needs to determine how big the market is for
their product and how to price their product or
service.
Gathering all the research feeds into the fi-
nancial piece. Once the research is converted
into numbers the startup will see the feasibility
of opening a new business. If it is a marginal re-
turn, the client may decide that it is not worth
putting all their life savings into it.A small busi-
ness is a lifestyle choice and Karen helps her cli-
ents make sure this new business will meet their
personal needs.
Clients also work on a projected profit and
loss statement, balance sheet and cash flow state-
ment. These are a requirement to go to the finan-
cial institution to get a loan. Karen talks about
the process of going to the bank and helps create
a presentation for the loan officer. “We do a Fi-
nance 101 class in the office instead of a class-
room”said Karen.
Existing business owners meet with Karen to
have an analysis of their business. This will show
how they are managing compared to the rest of
the industry. If the existing business want to
grow or expand, they may need to go to the bank
to get financing. As a team we will put together
projected financial statements to show the bank
how they plan to fund the expansion.
Every business that comes in the door is
unique. Karen’s goal is to make sure they get to
the next level. There is no limit or constraint on
how many times she will meet with the business.
“I am the intake person. I see what their needs
are and what is going to serve them best at the
SBDC. I will then direct them where to go. We
have workshops, marketing experts, small busi-
ness management classes and free counseling.
Anything financial related I will help them.”says
Karen. “It is necessary to do an analysis to see
where the business can improve. We have tools
that I can use to help determine what they want
to do…reduce cost, increase profit and reduce
debt.We talk about different ways to get there.”
Karen has been helping startups and existing
businesses at the SBDC for 26 years. Her back-
ground is a chemist. She decided that being in a
lab all day was not the life she wanted, so she got
her MBA with an emphasis on the financial side
of business.
Hundreds of clients at the SBDC credit Karen
for their success – she helps business owners cre-
ate a business that serves them and not the other
way around.
Financial Counseling is Karen Carroll’s
domain at the SBDC. She works with startup
clients and existing businesses helping them
create a plan that will determine what
direction they need to go for their business.
503-594-0738
bizcenter.org/clackamas
407641.050113 CR WW
joedomenicoagency.com
Insurance & Financial Agent
Farmers Financial Solutions, LLC
2423 Galena Avenue, Simi Vaklley, CA 93065 • (805) 306-3400 Member NASD
6641 SE Lake Road Milwaukie, OR 97222
Bus: 503-653-0120 Fax: 503-653-0122
Specializing in
Auto, Home, Commercial, Life,
Boats, R.V.'s, Financial Services
JOE DOMENICO AGENCY
Established in 1967, the Joe Domenico Agency,
is a multi-line insurance agency, providing per-
sonalized insurance coverage for families and
businesses in Milwaukie & Portland Oregon.
We represent some of the finest insurance
carriers in the nation
