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Client Corner This client was featured in January 2004. The information in this profile was accurate at the time of writing. Please contact us if you believe something should be changed.
Bill Lake, registered financial representative, is one of many satisfied clients of the UNI Regional Business Center who now enjoy the benefits of entrepreneurship. Bill took the leap after 16 years of industry experience that provided him with the knowledge and skills he now incorporates into his own venture, Iowa Financial. Unhappy with the way his employer handled business, Bill thought about branching off ten years ago, although he lacked the technical knowledge or potential to do so at the time. Bill felt uneasy about plunging into a new business until he realized there were more ways to run a business than what he had been exposed to. There were so many more technological resources available than he ever knew. This proved to be the key in his successful venture. Although Bill had a general business model in mind, it was not until he spoke to a program manager at the UNI RBC that he identified his specific needs and refined his plans to meet them. Because his business is a delicate one, Bill needed to make sure that his ducks were in a row. From Fall 2002 until June 2003, when he opened his doors, Bill utilized his assets and time to research areas such as supply companies. Bill attended the Smart Start class to get his feet wet in the business world, then moved on to other classes and counseling, which led him to where he operates today, as an incubator tenant at Independence Technology Center. As a financial advisor, Bill's expertise lies in the areas of financial planning, stocks, bonds, and inheritance. He breaks his target market into two groups: retired folks, and pre-retired folks. Something that Bill prides himself on is his personal attention and contact with clients. He emphasizes one-on-one confidentiality, unlike his competition. Many people are sensitive about their money and information, but as Bill says: "the buck stops right here at my desk." In larger corporations, client information goes home with the many workers that encounter it on a daily basis. Bill's advice to future business owners emphasizes precise business planning and flexibility. Time efficiency is also a must-have in the world of business. There are many things to do in a day and wasting time is not an option. From experience, he believes the unforeseen things are the greatest challenges, but that one should worry only about what he/she can control. Everything else should be dealt with on a daily basis. Bill Lake would take the plunge again in a minute. He loves having control of his business, rather than having his business control him. The confidentiality he offers clients, and the ability to know them better, is a great reward, unlike his previous experiences with the large, impersonal corporation. He sees his own business as significantly less stressful, and he is now recruiting others from major firms to join him in his venture. Working with the Small Business Development Center, Bill says, was all it was cracked up to be. The guidance he received provided him with constant, confidential feedback. The classes he took, such as Smart Start and MyEntreNet, also provided him with a wealth of information. Bill Lake Return to Client Corner. |
Bill
Lake
2004 All rights reserved. University
of Northern Iowa Regional Business Center Last Updated:
01/30/2004
212 E. 4th St. Waterloo, Iowa 50703 319.236.8123
email info@unirbc.org
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