Babies and Business Plans: Precious Images Ultrasound
Almost a year from the day that she lost her job, Ms. Goodwin opened Precious Images Ultrasound in Orland Hills to provide prospective mothers with 3D and 4D ultrasound videos of their babies to share with family and friends.
When she came to SCORE, Ms. Goodwin knew what she wanted to do — she wanted to open an ultrasound business. She just didn’t know where to start or how to run a successful business. She asked volunteer counselor Peg Corwin to write a business plan for her.
Corwin explained that she could work with her, but Ms. Goodwin would have to write the plan herself. An enthusiastic and motivated entrepreneur, she jumped in with both feet. Under Corwin’s direction, Ms. Goodwin went through numerous drafts of the plan, which included marketing to-do lists, projected revenues, expenses, and timelines.
The prospective business owner spent so much time fine-tuning her business plan that she knew it cold. When she met with Mr. Dennis Irving, president of Highland Community Bank, to discuss the plan, he asked her, “Don’t you need a copy for our discussion?” “No,” Ms. Goodwin answered, “I don’t need a copy because I know it.” And she proved in the discussion that she did, answering every question he had relating to details of the business she wanted to open.
Mr. Irving was “so impressed” that she knew her business. He said, “Many people sit before me and do not know their business. They have to rely on their accountants.”
The path to launching her business was not easy. Ms. Goodwin had to overcome various obstacles. She negotiated with several landlords before she found the right location. She investigated franchise options that she ultimately rejected. Nevertheless, the entrepreneur had the drive, the passion and the determination to work through all the difficulties. Revenues from the startup year so far have exceeded her conservative projections by a large margin.
Looking back, Ms. Goodwin said, “Along with other supporters, Peg Corwin made a huge impact. Without Peg, starting my venture would have been much more difficult.” (She is also deeply indebted to extensive guidance from Anita Ellis, her godmother and fifth/six grade teacher.) “Peg gave me the structure and told me how to go about making my business happen.”
If you know someone who is pregnant in the Chicago area or South suburbs, she can sign up for a very special 3D/4D ultrasound experience with Adolphina Goodwin at www.preciousimagesultrasound.com.