Location, Location, Location

I didn't think I'd be able to sleep last night, but the two cocktails I had right before I went to bed helped to put me out.

Dessert Noir Cafe & Bar is closed for business.

Wow! Did I just really say that? Dessert Noir Cafe & Bar is closed for business.

I've been writing in this blog for a few years now about how critical it is to support local businesses, particularly now as many are succumbing to this historic economic downturn. Ultimately, Dessert Noir Cafe & Bar could not survive because of three primary factors working against it: location, location, location.

The "first" location, Beaverton, Oregon. I had an ambitious concept that was ahead of its time. In a surburban restaurant market that's dominated by the Cheescake Factories and Olive Gardens of the world, it's incredibly tough to compete. We as consumers and members of a local community can't say on the one hand that we want our local businesses to create a vibrant, diverse landscape and then don't get out enough to these business to ensure they're successful. (And it still blows my mind that people will spend two hours waiting in a ridiculous line at a chain restaurant and get upset if they have to wait 10 minutes for a table in a small, locally-owned place.) Businesses are not displays or props for people to just simply admire. They need patronage in order to make money and be profitable to remain open.

Also, I had taken on the enormous task of changing consumers' mindset about dining and entertainment in the suburbs, where I promoted that it's OK for people to get off their cul de sacs at other times during the week than Friday and Saturday night. Even the biggest brands with the deepest pockets can't easily motivate people to do something different. I don't know why I thought I could.

The "second" location, Cedar Hills Crossing. My spot in the newest extension of this recently redeveloped shopping center was always problematic. While being located next to a 16-screen multiplex had its advantages, it became very obvious very quickly that unless the movies were jumping, the restaurant would suffer from lack of visibility and a steady flow of foot traffic. Even when times were good, it was tough to get butts in the seats because the restaurant was off the beaten path.

The "final" location, place in history. When I wrote my business plan for Dessert Noir Cafe & Bar in early 2004, the economy was growing and the business outlook was positive and encouraging. Fast forward to the summer of 2009 and I did not have any idea that I'd have to manage a business through the worst economic downturn since the Great Depression. Mounting job losses, a financial crisis that's severely tightened credit, and predictions that we're in for a painfully slow recovery have all weakened consumer confidence, which is critical to a restaurant's survival.

I held on as long as I could. However, even with local and national publicity and recognition, a new approach to the menu, and a renewed commitment to be Beaverton's premier dessert destination, none of it was enough to keep the business alive, much less to thrive. Unfortunately, the business had to close. There really was no other choice.

Balance Your Life Now - Latest Interview

Check out my latest interview on George Duhart's program on BlogTalk Radio. He has a great show called "Balance Your Life Now."

Balance Your Life Now

Shared via AddThis

The Athena Fortune Show

Catch my interview that I did this morning on Susan Pascal's program on BlogTalkRadio, The Athena Fortune Show.

CubeSpace - Mobilizing a Community

CubeSpace is a unique and innovative workplace community in Southeast Portland that hit a lot of radar screens in the last week because the owners, Eva Schweber, a nonprofit consultant, and David Kominsky, a rabbi, made a direct appeal to their constituents and stakeholders with an open letter detailing their struggles to keep their business alive. The response from the community, thanks to press coverage, an "organic" viral campaign on Twitter, and old-fashioned outreach, was enough, as Eva and David put it, "to put them on a path out of the woods."

I completely empathize with Eva and David, as Dessert Noir Cafe & Bar continues to get "beat down" in this recession. Like with Eva and David, I, too, cannot count on the banks for assistance through these challenging times. As I've said many times before, they're not interested in doing the right thing, even after receiving billions and billions of taxpayers' dollars through the TARP.

In the meantime, the bills are piling up, revenue is down an average of 18 percent each month over the same period in 2008, which was already down about 20 percent over the same period in 2007. I held out some hope in May as the month got off to a strong start with the release of X-Men Origins: Wolverine and Star Trek, but I can always count on something to derail things. This time it's the weather. The first signs of warm, bright, sunny days in Portland are a killer for my business, especially when they coincide with a holiday weekend.

I commend Eva and David for "putting it all out there." It inspires me to take a similar approach with my own customers, for we have some unique challenges out here in the suburbs in Beaverton where people have really gone underground, fearing for their economic security. Rightfully so as these are tough times for a lot of people.

However, we've got businesses going under left and right. At Cedar Hills Crossing Shopping Center, we lost Joe's, a regional retailer whose tenure at the center dates back to the early 1970s. About a mile down the road, we lost the Kingstad Center, a meeting facility that also featured local art, comedy, and theater. Others surely will follow if we don't rally around these entrepreneurs like folks did for CubeSpace to reinforce the importance of these businesses to our community. We must invest resources and spend time and money patronizing them. Our landscape is already changing drastically, and would-be entrepreneurs will surely think twice about bringing innovation and new businesses to our area if they don't perceive there's an opportunity to be profitable for the long term.

My Own "Stimulus Package"

As we move into the summer movie season, I'm praying for a steady stream of big blockbuster films that will attract people to the theater and bring people to Dessert Noir Cafe & Bar. So far, X-Men Origins: Wolverine and Star Trek were big hits right out the chute. I'm anticipating that Angels and Demons, despite lackluster reviews from the critics, will create enough buzz and excitement this weekend to keep this momentum going for us.

This is part of my own "stimulus package" to continue to create value for my customers and generate more revenue for the business. That also means opening up other revenue streams with the book and speaking opportunities. So if you haven't purchased my book, please do so today! :-) Go here: http://moniquehayward.com/books.aspx.

Certainly, I cannot count on the banks as I have yet to land a deal to refinance and get additional capital to grow my business, despite months of trying. Credit is so ridiculously tight that I've just essentially given up on the banks altogether and I'm working very hard to pay off my debts so I can get them all out of my life one by one.

LA Successful Women Entrepreneurs Examiner: Divas doing business: advice for starting and managing your own business

LA Successful Women Entrepreneurs Examiner: Divas doing business: advice for starting and managing your own business

Posted using ShareThis

LA Successful Women Entrepreneurs Examiner: Monique Hayward: A diva doing business.

LA Successful Women Entrepreneurs Examiner: Monique Hayward: A diva doing business.

Posted using ShareThis

Contributed Article at Politics in Color

Here's an article that I contributed to the Politics in Color Blog: http://www.politicsincolor.com/articles/opinions/05/01/2009/swine-flu-affecting-small-businesses-too.html.