Robert Cruz, founder of CarAudioCare, joined the Spring 2018 EMBC after having a burning desire to learn how to position his business for growth and work ON his business, rather than simply IN it. He won the EMBC and ever since the program he has achieved and reached new heights in a very short amount of time. The biggest obstacle for Robert when establishing CarAudioCare was trying to grow on his own. Since completing the program, Robert has made key hires to help grow his company.
Prior to EMBC, Robert had some knowledge about business, but now he has gained insights and tools to implement growth strategies such as lowering the cost of goods, increasing his number of customers, and selling more to his current clientele. After grasping this newfound knowledge, Robert placed 1st at the EMBC Pitch Day and has applied changes to his business that exemplify accelerated growth. In addition to adding a bookkeeper to his team, he has hired a part-time technician who will be transitioning to full-time soon. CarAudioCare is on track to increase revenue by 15%. Robert has been operating his business for 11 years and has talked to many people who have offered advice and tried to help him grow, but no one has compared to the team at LIFT Development Enterprises. EMBC helps small businesses by teaching them innovative methods and guiding them through their execution so they can reach the next level.
Robert attempted to request funding from many different banks, but unfortunately, he was unsuccessful in securing financing with them. Once participants graduate from EMBC, they undergo a 24-month period of frequent checkups from the support team to address any business needs. In Robert’s case, we helped develop his portfolio to be approved for alternative funding. With our team’s effort, Robert was approved for a loan from Accion to grow his business.
CarAudioCare increased its revenue in such a short amount of time, that it qualified to enter our advanced growth accelerator program: Founders Business Growth Bootcamp. Upon graduation of our Bootcamp program, Robert will have even more opportunities to receive mentorship and funding as he endeavors to expand to other regions of California.
With a commitment to work hard and a desire to grow, your company could be the next sustainable and successful small business like CarAudioCare. No one can grow without a little bit of help. We hope that the Elevate My Business Challenge can be the spark that ignites a fire for your business growth!