Chastity Moore is a business owner who wanted more collaborative spaces. After months of searching, she created the perfect collaborative space herself. Chastity opened The Business Owner’s Emporium (TBOE), Georgia’s first and only corporate solutions center.
TBOE is a one-stop shop for entrepreneurs, with over 7,000 square feet of beautifully designed and furnished office that allows entrepreneurs to gather and co-work and includes amenities such as podcast recording spaces, conference rooms, and café space. This innovative solution allowed Chastity to build a successful business and become an inspiration to other entrepreneurs.
Chastity began designing her workspace from scratch, focusing on creating a warm and welcoming environment without being too crowded or chaotic. She incorporated comfy chairs, cozy couches, natural light, and open space for people to collaborate in small groups or larger teams. The result is a high-end office space where other entrepreneurs could use state-of-the-art technology and be comfortable yet productive in a workspace that provides everything needed for collaboration and networking opportunities.
Once she had created her perfect workspace, Chastity began building her business around it. She structured services that her company offers, such as business building services and business compliance services. TBOE is a place that serves as a business resource center and provides bookkeeping, business consulting services, business tax services and more within one location.
TBOE is a unique office space that caters to the needs of the modern entrepreneur.
Having successfully built her TBOE, Chastity shares her tips for entrepreneurs building their businesses:
1. Keep a good credit rating
As a business owner, maintaining a good credit rating is essential. Failing to do so could result in missed opportunities and increased operational costs, making it challenging to build your business.
Build your credit score by having reliable debt-to-income ratios and exercising financial discipline, including making timely payments, staying within credit limits and monitoring your accounts frequently.
Taking advantage of low-interest loans or other financing advancements offered by banks or government agencies can also work in the favor of entrepreneurs aiming to build a successful enterprise. Business owners must understand that building a solid foundation requires responsibility: careful credit rating management should be considered an essential part of any small business strategy.
2. Grow and expand your vision with minimal to no debt
Growing and expanding your vision should be a rewarding experience, but it can leave you with an overwhelming amount of debt if not managed correctly. To ensure you reach your goals without accumulating too much debt, it is essential to establish a solid plan for how you will finance the growth of your vision. This plan could mean setting aside part of your current savings or looking into opportunities for investment, depending on the size of your desired expansion. Additionally, researching grants or loans from organizations or government resources can provide the extra capital needed. With careful preparation and management, you can stay within budget while growing and expanding your vision.
3. Keep a fundability health check
As any business owner knows, securing financing for your operations is essential for a thriving organization. A regular fundability health check should be on the priority list of any company that wants to remain competitive. By regularly examining areas such as credit history and cash flow production, businesses can ensure they’re well-prepared to take advantage of opportunities. A proactive strategy emphasizing funding maintenance is key to staying ahead of the competition and fostering long-term success.
Chastity proves that anything is possible if you have an idea you believe in and are willing to put in the hard work necessary to make it happen. By creating a unique collaborative space tailored specifically towards entrepreneurs’ needs, she built a successful business from scratch—a great example of innovation at its finest.