We teach lifesaving skills to thousands of students and adults each year to effectively respond to sudden cardiac arrests and save precious lives. Energize Colorado helped us to supplement our working capital to substantially improve our cash flow and revenue generation.
What is your name? And what is the name of your business?
Alan Himelfarb, Starting Hearts
How long have you been in operation? And what services/products do you provide?
Thirteen years. We teach lifesaving skills to thousands of students and adults each year to effectively respond to sudden cardiac arrests and save precious lives. We provide lifesaving defibrillators throughout the communities we serve; and as a result, our save rate in the communities we serve is four times the national average.
What has been the driving force behind your business? And in what ways are you hoping to grow in the future?
Cardiac arrest is our nation’s biggest killer, more than the next six causes of death combined. This is a national tragedy, and we can change outcome for many with a confident and capable citizens. It is our goal to save 100,000 lives every year by 2040 by empowering an entire generation of youth to respond in times of need by sharing our curriculum and best practices with communities across the nation.
As an entrepreneur what is one challenge you’ve faced in the past? And how did you overcome it?
Sustainability is always the biggest challenge for a young organization, especially a nonprofit. In our early years, we relied exclusively on donations, which fluctuate with economic conditions. To overcome this, we worked diligently to diversify our revenue; and today, have six separate revenue streams, several of which exceed our donation income.
How was your overall experience working with Energize Colorado? What solution did Energize Colorado provide? And how did/will the solution benefit you and your business?
The effects of the pandemic had a significant impact on supply chains. For us, we were relatively unable to receive lifesaving defibrillators to meet both public and private demand. Energize Colorado provided valuable working capital to invest in inventory when available. As a result, we have been able to meet our customers need as well as place public access defibrillators in the communities we serve. We had an excellent experience in the process of generating this loan and would highly recommend Energize Colorado to other small businesses in the state.
Energize Colorado helped us to supplement our working capital to substantially improve our cash flow and revenue generation.
What is one piece of advice you would give to someone with aspirations to start a business of their own?
Entrepreneurs are often so excited about their product or service that they fail to pay attention to the importance of a carefully considered plan, which must include sufficient working capital to address the many challenges of a start-up business.
Where can people find more information about your business? And do you have any closing thoughts you’d like to add?