New Venture Lab: Equipping Christian Entrepreneurs

20-Year Old Launches a Company as Part of His Education

This profile features a young entrepreneur that launched a company as a way to continue his education -- an education that his parents carefully crafted to teach him entrepreneurship

Name:

Ian S. Lamont

Family Description:

I am the second of four children and the oldest boy.  Although my father is employed, he and my mother have always instilled a love for entrepreneurship in us; it was taken for granted that my brother and I would be self employed, and the idea of finding a job at some big corporation has been entirely foreign to us.  I am twenty years old and at that time in life where I am still seeking my calling and preparing myself for marriage and family leadership.

Business Name:

Slickepott Fudge Sauce

Business Description:

'Slickepott' makes a premium-quality, all natural, chocolate fudge sauce.  Based on a family recipe which goes back several generations, Slickepott Fudge Sauce is unique in its velvety smooth texture and rich, buttery flavor.

Location:

Delhi, NY

Formal education/training:

Mine has been a very hands-on, experience-oriented, scripturally based home education from birth.

Prior work experience:

In addition to being responsible, from a young age, for many household duties my younger siblings and I, in our early years, tried out several 'businesses': ice harvesting (not much of a market there) and wooden action figures modeled after historic military uniforms, to name two.  My most influential work experience has probably been the seasonal concession business my parents started as a way to expose us to entrepreneurship.  For the past eight years, every Saturday from May to October, we have packed the car and headed to a regional farmers' market where we sell coffee, cappuccino, espresso, and authentic Liege-style Belgium Waffles.  It has given us excellent training in dealing with the public, selling a product, etc.  Beyond that, I have worked at a horse farm and continue to wait tables part-time at a local upscale restaurant.

Forming the Idea:

When I had completed what would be called my high school education, my parents and I found ourselves at a crossroads.  Taking the typical college route was always out of the question, but with the many interests I had it was just not clear where the Lord was leading me.  We finally decided that, regardless of what I ultimately pursued, a business degree would be useful.  The initial thought was to obtain it by means of distance learning and College Level Examination Program (CLEP) tests.  However, we quickly realized that this route was inconsistent with the scripture-oriented, hands-on, community-based, and downright eccentric approach we had taken with every other stage of my education, and agreed that the best way for me to really learn business would be to start one!

How you got started:

My parents encouraged me to choose a tried and true product so that I could focus exclusively on the entrepreneurial process.  The fudge sauce we have given out as Christmas gifts for years came immediately to my mind along with my grandmother's Swedish term, 'Slickepott'.  The fudge sauce's ever growing group of enthusiastic devotees eliminated any need to determine whether or not a market existed for this product.

I set several standards for myself in business:  1. I would not accept any local, state, or federal grants or loans.  2.  I would avoid debt as much as possible.  3. Artificial ingredients, corn syrup, or preservatives would never be used in any products.

What was it like in the beginning:

The first three months were spent contacting and interviewing anyone I knew who had small business experience, particularly relating to food, and researching the things which these people deemed essential to learn; having my recipe tested and approved, getting a license for food processing, lining up suppliers, filing with the state to collect sales tax, and registering a 'Doing Business As' (DBA).  Although I often compared this stage to wrestling an octopus, it was immensely educational for someone who never had to think about all those various aspects before.

What stage the business is at now:

Although there has been a tremendous response to the fudge sauce at food shows, festivals, and in the local media over the summer; the business is still very much in its infancy.

The biggest challenge you’ve faced:

Inexperience in business has been a challenge for me; when I come up against a problem or have a question, I feel as though I should read everything about the topic I can get my hands on before I even consider asking anyone for advice.  This unnecessary preoccupation proves overwhelming at times and can get me off track; ultimately hindering my progress.

Key steps that made the difference:

Forcing myself not to be intimidated or let pride get in the way of asking for advice.  I have learned that, despite my initial fear, people do not mind answering questions, and that input from others who know more than you enables you to see your situation from a different perspective.

Lessons Learned:

I am sure the learning has just begun, and that some lessons will be learned the hard way; others, by God's grace, a bit more easily.  At this point, the greatest lesson has been how marvelous the grace of God is.  On a much lower level, I am amazed by the importance of paying attention to detail; small touches and tasteful presentation can make all the difference in how a product (and the producer) is initially received.  You cannot rely solely on the merits of your product, but must pay attention to how it is presented and how you present yourself.

The best advice you received:

• "The fear of the LORD is the beginning of knowledge, but fools despise wisdom and instruction."
• "In a multitude of counselors there is safety"
• Take the extra step, spend the extra dollar, and go the extra mile to serve your customer and make a good impression.

What your work and family life was like before:

Before I started Slickepott, I was starting to feel impatient and felt that I was wasting time.  I had many ideas, but no way to realize them.  I did not believe that going off to college was a productive thing to do, but I felt awkward and non-productive without a specific goal.

What your work and family life is like now:

I have a productive, daily purpose that will, should the Lord be willing, enable me to accomplish greater things that have been put in my heart. I am gaining valuable tools that will serve me my whole life as I strive to bring all areas of life under the Lordship of Christ.  Running the business from home has helped develop new aspects in my relationships with my parents and siblings as they lend me their help and talents.  It is also giving me the opportunity to learn how to run a business while still being a productive participant in a family, with all of the associated responsibilities.