HALES CORNERS, Wis. — “I knew I had the skills to do the work. But running a business? I wasn’t sure about that. But it didn’t stop me from trying.”
These words from Joseph Spencer, founder of Championship Window Cleaning, capture the essence of his entrepreneurial journey. While confident in his abilities as a window cleaner, he soon discovered that running a successful business requires more than just technical expertise.
Spencer’s transition from employee to business owner presented challenges that tested his resolve and pushed him to expand his skillset in unexpected ways. By working with First American Capital Corporation (FACC), he was able to transform his vision into a successful business.
Championship Window Cleaning is just one of the hundreds of small businesses across Wisconsin who have worked with FACC to receive not only financial backing, but also vital technical support to run their businesses.
Since Spencer launched Championship Window Cleaning, it has grown into a thriving business, providing services across Milwaukee, Madison, Lake Geneva and Kenosha County.
While Spencer felt assured in his ability to deliver quality work, he was uncertain about the backend operations of running a business.
“The actual work, I felt fairly confident about. It was more around the back end of the business: customer acquisition, financial management, financial objectives,” he said, adding the gap presented a significant challenge Spencer knew he needed to overcome to build a successful business.
Recognizing the need for guidance, Spencer turned to the internet, searching for resources tailored to Native American entrepreneurs. His search led him FACC, a partnership that was instrumental in addressing the areas where he felt least confident. Financial guidance, one of the areas Spencer did not feel comfortable with, became a cornerstone of FACC’s support. Through frequent touchpoints with FACC’s team, Spencer gained valuable insights into managing his business’s finances.
“They helped me set up financial objectives and create quarterly projections,” he said. “This assistance was crucial in addressing my concerns about financial management and goal setting.”
Most importantly, FACC’s support continued after the initial setup. Spencer emphasized the ongoing nature of their partnership:
“FACC provides continuous support through regular check-ins,” he said. “These one-on-one sessions have been invaluable.”
Spencer’s partnership with FACC transformed Championship Window Cleaning, yielding four key results in his business and personal life:
1. Financial Management Mastery:
Spencer evolved in managing his business finances. What was once his biggest challenge has become an area of growing expertise:
- Improved tracking of income, payroll and expenses
- Implementation of financial software for clearer insights
- More informed financial decision-making
“I’m tracking our income, our payroll and our expenses much more closely now,” Spencer said, highlighting his newfound financial acumen.
2. Enhanced Business Responsibility and Confidence:
Spencer shifted his approach to business ownership, characterized by:
- Increased sense of responsibility toward business success
- Greater confidence in financial matters
- A more proactive attitude toward business management
“I feel a real responsibility to make this business successful. My attitude toward finances has become much more responsible and confident,” he said.
3. Improved Financial Literacy and Decision-Making:
Spencer’s growth as an entrepreneur is evident in his sophisticated approach to financial matters:
- Improved awareness of cash flow dynamics
- Ability to balance personal and business financial needs
- Data-driven confirmation of financial intuitions
“I’m much more aware of our cash flow now,” he said. “I’m tracking what we need to pay ourselves and our expenses, and I’m able to confirm my mental picture with actual data.”
4. Holistic Personal and Family Success:
The growth of Championship Window Cleaning has had a positive impact beyond just the business itself:
- Achieved financial stability for the family
- Increased job satisfaction and sense of accomplishment
- Improved work-life balance
Spencer summarized this holistic success: “Both my wife and I have found success through this venture,” highlighting how his entrepreneurial journey has benefited his family.
These results demonstrate how FACC’s support has not only helped Spencer build a thriving business but has also empowered him to become a more confident, knowledgeable and responsible entrepreneur. This transformation is a testament to the power of targeted support for Native American business owners.
The work and mission of the First American Capital Corporation, Inc. (FACC) is supported in part by state and federal programs: FACC is a U.S. Small Business Administration (SBA) Microloan Program designated Intermediary Lender and a Community Advantage Small Business Lending Company (CA SBLC) licensed by the SBA to issue 7(a) loans. The FACC is honored to be a Wisconsin Economic Development Corporation (WEDC) Key Strategic Partner and a certified Native Community Development Financial Institution (NCDFI) through the U.S. Department of the Treasury CDFI Fund.
First American Capital Corporation, Inc. is a 501(c)(3) non-profit organization created by the American Indian Chamber of Commerce of Wisconsin (AICCW) in 2002. FACC provides lending and technical assistance to Native, Tribal and Disadvantaged Business Enterprise businesses and entrepreneurs. FACC was the first in Wisconsin to achieve the Native Community Development Financial Institution certification and is a designated SBA Microlender, the first Native CDFI in the nation to become an SBA Intermediary Lender. For more information about FACC, visit faccwi.org.
