Lyndwood Tex-Mex Bar & Grill to Host Grand Opening Feb. 11 and 12
Lynd business benefits from Southwest Initiative Foundation Microenterprise Loan Program
Vicente Hernandez recently received loan assistance from the Southwest Initiative Foundation’s (SWIF) Microenterprise Loan Program for the start up of the Lyndwood Tex-Mex Bar & Grill in Lynd. Vicente reopened the Bar and Lynd ballroom complex in October. In addition, he now offers a full restaurant menu, including appetizers, steaks, burgers and Mexican specialties including enchiladas, flautas, fajitas and chimichangas.
The Lyndwood will also feature Tex-Mex entertainment, providing a dance theme venue with live music and DJ entertainment. The Lyndwood Tex-Mex Bar & Grill will be celebrating its Grand Opening Feb. 11 and 12 with food and drink specials. Hours for the business are Wednesdays through Sundays, 4 p.m. to 1 a.m. Vicente can be reached at 507-865-4000 to inquire about upcoming entertainment, or to book events in the ballroom.
Hernandez has been employed most recently as a shift manager for five years at Logic, Inc., in Montevideo. He has always been interested in having a restaurant/entertainment venue, and worked as a cook for four years in a restaurant. Hernandez felt the opportunity was right when the Lyndwood came up for sale this year and decided to purchase the business.
“SWIF is pleased to assist Mr. Hernandez with opening the restaurant in Lynd, which has been a long-time asset to the community and surrounding area,” said SWIF Program Officer Kurt Thompson.
Together with primary financing from Klein Bank of Montevideo, proceeds from the SWIF loan will be used to purchase the equipment for the start up of the Lyndwood. SWIF’s Microenterprise Loan Program offers loans of up to $35,000 for starting or expanding for-profit small businesses located within the 18 counties of southwest Minnesota. This program also now serves Wright, Carver and southern Stearns counties.
In addition to financing, SWIF provides free technical assistance to all clients who have received a loan through the Microenterprise Program for the life of the loan. SWIF staff and business consultants provide one-to-one business planning, accounting, marketing and other training opportunities that will help entrepreneurs succeed in their venture. SWIF’s Microenterprise Loan Program receives funding assistance from the U.S. Small Business Administration and U.S. Department of Agriculture.
The Southwest Initiative Foundation is a regional community foundation dedicated to advancing southwest Minnesota through leadership, relationship building, program development and philanthropy. The Foundation has contributed more than $53 million through its grant and loan programs in southwest Minnesota. It has also helped more than 510 businesses start or expand through its business finance programs, which have created or retained more than 7,900 jobs. The Southwest Initiative Foundation is an equal opportunity provider. To learn more, visit www.swifoundation.org.
Entrepreneur Beware!
Ok, we’ve all read the signs ‘buyer beware’… but entrepreneur beware? The reality is that people in business are subject to all kinds of fraud…the opportunity to be taken as an entrepreneur runs the table from shoplifting to the high-stakes con artist who is after serious amounts of your money. And in today’s fast-paced, hyper-active electronic world, the stakes are even higher.
In the last year, two businesses that I work with have been very close to losing a large amount of money and the would-be perpetrators used almost the exact same scheme…both used Tele-relay services to communicate. Both used hardship in some way to tug at the victim’s desire to do good. Both tried using stolen credit cards, and in one case, succeeded. Both involved large orders for merchandise. In the latest case, Trevor Suckow, owner of the Friendship Café in Clarkfield, MN started asking questions about how and why…You can read his story as published last week in the Granite Falls Advocate by following the attached link.
Here are a couple of quick questions you should always ask yourself when that order that appears to be ‘too good to be true’ comes in…
- Why are they buying from us?
- Does the address on the credit card match the address to where you are delivering the product? This is important, because if the address is the same, and the card has been stolen, the credit card issuer will not leave you stuck with the bill.
- Can you verify the order with someone locally?
Follow Trevor’s advice, if it sounds too good to be true, it probably is…beware – danger is lurking!
Kurt Thompson is a Program Officer at the Southwest Initiative Foundation where he leads the Microloan and Entrepreneurship Programs. He also serves as business coach and mentor to small businesses by offering one-on-one technical assistance to loan clients.
photo credit: TheTruthAbout…
Four Qualities Every Entrepreneur Needs to Possess
Business owners are required to make several decisions every day. The decisions that we are faced w
ith run the gamut of the truly mundane to those that will have long term consequences for you, your business, and those around you. I would like to introduce you to four great qualities that I have found are essential for an entrepreneur to make good decisions.
- Know when to say thanks: This is something that may seem a bit old fashion, but when did we decide not use common courtesy as we conduct our business? Every truly successful person will tell you that their business would not be possible without the people around them and those who helped them in their formative years.
- Listen: Listening is something that is so basic in our society, yet in our ever increasingly narcissistic world, something that does not happen nearly enough. Here are just a couple of quick, easy tools that I try to use….
- Put the cell phone away
- Stop what you are doing
- Look people in the eye
- Clear your mind before you interact
- Think before you respond
- Ask great questions: After you have practiced those ever-important listening skills, take time to ask follow up questions before you reply or add to the conversation. By asking follow up questions, you are sending some very important messages to the person you are listening to.
- That you are indeed listening and that you are interested
- That you want to know more
- That you want to get it right
- Anticipate the unintended consequences of your decision: The ability to look beyond the moment is what separates the most effective people from the rest of the herd. While it is true that this is easier said than done, here are some tools that will help you look into the future and how your decision will impact those around you.
- Remind yourself why you are making this particular decision.
- Think about who this decision will affect immediately and directly.
- Ask yourself who will be a secondary beneficiary of your decision.
- Try to identify the worst thing that could happen as a result of your decision. Alternatively, ask yourself what is the best thing that can happen as a result of this particular decision.
- Identify what the on-going costs are of such a decision.
The truth is that we all need to pay attention to our customers, our employees, our suppliers, and the people that make a difference in our business. Thanks is truly a powerful word that will send a message to those around you; a message that you value their business, their ideas, and their loyalty.
Once you ask those follow up questions, you will have the ability to truly understand what they want to inform you of or ask of you. Once you have done that, you can go forth with more information which will allow you to make better decisions.
Clearly there are many other characteristics that are important in the process of decision making, but these are just a few of the ones that I feel are either forgotten or not used nearly enough. Perhaps the most important thought that I can leave you with today as you consider any decision is to remember to always be true to yourself.
Kurt Thompson is a Program Officer at the Southwest Initiative Foundation where he leads the Microloan and Entrepreneurship Programs. He also serves as business coach and mentor to small businesses by offering one-on-one technical assistance to loan clients.
photo credit: Deputado Bruno Covas
