For 40 years, western New Jersey based Imperial Billiards has been producing high-end custom pool tables, but in this economy, fewer people are willing to spend thousands of dollars on these pricey items. Business owners Val Vindici and Tony Defillippis knew they needed to take drastic steps to survive. See how these entrepreneurs have expanded their product lines to encourage repeat business, and have also started selling shipments of wood pellets to stabilize their cash flow and bring a new customer base into their woodshop.
Panelists
--Jeffrey A. Carr, Executive Director of NYU's Stern Berkley Center For Entrepreneurial Studies
--Gene Marks, President of the Marks Group PC, a provider of technology and consulting services to small and medium sized businesses
Dollars & Sense: Avoiding Lawsuits
For small businesses without a team of lawyers, dealing with legal issues can be a dangerous proposition. Michael Chasalow, director of the USC Small Business Clinic and a visiting clinical assistant professor of law, provides some tips on how you can avoid common legal pitfalls.
Elevator Pitch
Thomas Speare, President of Heirloom Sports, pitches Adirondack Golf to the panel. Adirondack Golf is a backyard version of the popular sport played with vintage wooden clubs and wickets. Thomas is looking for capital that will help him carry the company to cash flow positive within three years.