Thursday, March 27, 2014, Yuma Office Equipment was recognized as a 2014 Success Award Winner by the Arizona Small Business Development Center Network in the annual Success Award program for small business success. The Arizona Small Business Development Center Network is Arizona’s largest and most accessible statewide source of assistance for small businesses in every stage of development. Each year the Network highlights and honors some of Arizona’s brightest small business successes for the vital role that they play in our state’s economy. Yuma Office Equipment worked with the Arizona Western College Small Business Development Center to achieve a higher level of success. Read their story below:
Daniel Bombard had worked at Yuma Office Equipment for many years and had grown with the company. When the former owner was planning to retire, Bombard began discussing purchasing the business. With this transition in mind, Bombard first approached the Arizona Western College SBDC for assistance. Bombard says the advice he received from the AWC SBDC both justified the value of the business and different pathways to complete the purchase. Our discussions not only justified the business valuation but helped to develop the business plan for managing the business. Once that hurdle was accomplished, Bombard began the financial training to become a better manager of the business by enrolling in Profit Mastery training through the AWC SBDC. It was after this training Bombard acknowledges he learned the value of working on his business was as much or more important than working in the business.
“Randy Nelson was extremely helpful by providing a professional level of analysis and insight on what it has taken for my success. The financing, financial management, social media education and just being a resource for small businesses is an amazing tool every business owner should be aware of and I’m so pleased I did,” acclaims Bombard.
Bombard also acknowledges the valuable insight that came through the SBDC counseling that more sales did not always mean the company would show more profits, or was stronger. The key to success would always be managed growth.
One key area that helped the company navigate the great recession is now also leading the growth of the company, investment in professional development. Yuma Office Supply has invested in the employee training and is now the area leader in computer repair, computer networking, and IT services and equipment sales. Additional skills have allowed the company to develop new revenue streams to offset a declining industry.
Today not only has Yuma Office Supply survived a change in ownership, but in fact has thrived. Every job has been retained while the company has grown revenues through new and innovative technologies and service offerings. Yuma Office Supply has added new product lines and reinvented the way it can be an IT partner with any entity in the area.
