T MINUS 140: The Days Until App

I always know when I'm intimidated, fed up, apprehensive or tired of something: I completely avoid it. Such was the case with the iPhone app I have called 'Days Until.' I checked my email on day and had a message that asked if I had gotten any closer to raising the capital I needed to make an offer on the building because another party was interested in the property and (naturally) the owners wouldn't be able to hold it for me until I got the funds together. On one hand that is completely understandable! Hey, I own a business- I wouldn't expect anything else. On the other, it was devastating.

I can't even begin to describe those feelings. It was like they told me that somebody had died, I felt this huge void and I couldn't picture life after death. I have this vision of myself at Concept and how my life will be when the well-oiled machine I've been dreaming about gets to blowing full steam. And with that news, that vision, that ME died in an instant. I had already been on the verge of what I feel like was an emotional breakdown (I'm learning more and more how sane people end up insane) and that was the straw that broke the camel's back. I think I finally succumbed to the pressure. I cried and wallowed and turned off all the lights and tried to wish myself invisible. It didn't work. It was Tuesday, July 7th. I was in New Orleans and that was the last time I looked at the Days Until app until today.

So, I made up my mind to not go back to Tallahassee. Sure my family's here and I've made the place my home, my personal and professional relationships are deeply rooted and my business is headquartered here but without Concept, I was reeeeallllyyy feeling like there's nothing in Tallahassee for me. It was the first time in a long time that I have been able to identify with the people that are dying to the leave the city. I decided I wasn't coming back and made an official announcement among my personal braintrust.

The text (lol) read: 'They told me the building is being looked at by someone else. If it's not available, I'm staying.' My phone blew up with all the return texts and phone calls asking me where this was coming from, was I sure, why was I running away, WTHs and WTFs. My mom was the one that told me I was running away- naturally I didn't see it that way. I was just soooooooooooo tired. Tired of meeting, planning and defending this dream and that was the perfect out. That was Tuesday.

After 3 very in-depth discussions on why this was happening, how to bounce back, what to do as an alternative, I got my mojo back and got back on the horn on Wednessay. I told the realtor that the business model for Concept required me to be in the downtown area but the size of the building facility didn't have to be as big as the current building we are looking at and kept putting one foot in front of the other. As fate would have it, I had just extended an offer to a colleague to join the team as the Vice President of Operations and she came in excited, on fire and right on time. I fed off her energy and enthusiam and the atrophy continued to reverse itself.

I also came to grips with the fact that we won't be having the big grand opening on New Year's Eve- I felt like such a disappointment, a failure. Who plans something for two years (2 years and 22 days to be exact) and can't deliver on time? But then I look around me and notice people who barely plan and don't deliver at all and I am somewhat sustained. What has been decided is to get the operation (read: conglomerate) open in phases.

Ideally, the conference center and event space (2,700 SF), which is the most flexible of the spaces and is located on the basement floor will be open in time to allow for more venue options for area holiday parties. The first floor houses the virtual office receptionist, transient meeting space, executive conference room and the restaurant would be great to get open in time for Legislative Session 2010. And finally, the crown jewel, Concept Cocktail Experiece, will be open Q2 2010. That's when we will have the Grand Opening celebration.

In the meantime, we have a New Year's Eve party to plan! And thanks to my twitspiration @inkwellalley, I can get back into the groove of sharing 'the countdown to Concept'!

T MINUS 196: Ms. Hamer, Ms. Hamer

I had lost my mojo there for a while...7 months needed for construction time, trouble getting the retainer fee for the securities attorney and a near-falling out with the closest things I've had to a best friend in 5 years. My stress level is high and so is my blood pressure I'm sure, my ears are constantly ringing and the strain in my shoulders will not go away. Can't get rid of this cough because my immune system is probably shot to pieces from all the ripping and running and I just can't seem to get enough sleep! I was starting to feel like Ms. Hamer, Fannie Lou...one of the female leaders of the Civil Rights Movement notably known for saying she was "sick and tired of being sick and tired."

I needed a shot in the arm- some juice, motivation, mojo, take your pick. Frustrated because I've done all I can do and my control over the progression of the project is dwindling day by day. And even more troubling than that is the fact that the progression of the project itself is dwindling day by day. I got that shot in the arm today though. I had the pleasure of sitting down with an architect to discuss the project, where I was with it and what steps I needed to complete next in order to move forward. I was excited about his insight on the City's Economic Development Council incentive programs along with the funds available through the Community Redevelopment Agency. He also gave me some insight on how to negotiate the asking price for the property that we're looking at for Concept (which he was familiar with).

He asked me what the timeline I was working with was and I told him that I honestly had no idea at this point. What was so amazing was that he understood the absolute necessity of me getting the products that he produces in order to secure my financing. He advised me of his industry's practice to typically do renderings last because of the need to get them as accurate as possible. I completely understand that! But he was also aware of the need to get those renderings in front of investors and bankers and I appreciate that even more.

The first place for us to start was to determine the scope of the project- how do you want it to look, what will go where, what don't you want in the establishment? Lucky for me, I've been working with a great architectural student from FAMU who has really helped me articulate my vision for Concept and what's even better is that he completed a summer internship with this particular firm a couple of years ago! The real shot in the arm came when he asked me if Emmanuel and I would be available to meet this afternoon...as in today! Like today today, T MINUS 196! He said that he and his staff would work on getting me everything I needed at cost within the next 2-4 weeks!

I think that shot in the arm I just got is healing me quickly, I don't feel so sick anymore and although I'm still a little tired, right now I'm glad that there is no rest for the weary!

T MINUS 205: One Bite At A Time

I went to the construction company to help determine if the numbers I had in my line-item budget for the projected startup costs were practical. That was in March...today is June 9th and I just got those numbers from them on June 1st. Their estimate says they will need 7 months to complete the project. That 7 months doesn't include the time it will take to get the permits or the financing to get the permits or the documentation to get the financing. A dream deferred indeed.

It isn't so easy to give up now, not when I've put so much into this dream- sacrficied so much and given so much. I can't just scrap the idea completely just because there is strong possibility of not meeting the deadline I've been planning on for the last year and a half, can I? And that's why I've made myself accountable to so many people, why I've wanted to share this dream with so many people because somewhere in the back of my mind, I knew that I would have to lean on the support of those around me.

So, getting back...the basement floor is going to be dedicated to the conference center and meeting space; second floor to restaurant space and executive office leasing and the top floor to the Cocktail Experience Lounge. You know the Lounge is my baby, the highlight of the portfolio- the other businesses are ancillary and the revenues they generate will be to pay the expenses of the business. The revenue generated from the Lounge will be used to pay the investors. Initially, the plan was to have every part of the business operational for NYE 09...in 205 days.

I've been asked by a couple of people if I had considered opening the business in smaller chunks...How do you eat an elephant? One bite at a time! So this is how the project has evolved: we will get the conference center and executive office space open in order to begin generating those revenues (getting hard out here in these streets!). I asked the construction manager if would be feasible to get that accomplished and he agreed that it would be. The requirements to do that would get the plumbing, HVAC and electricity updated and make sure the fire exits are ADA accessible. We're keeping the concrete floors and are going to add the glass walls from Hufcor (www.hufcor.com) to separate the space.

The major challenge comes in determining how to acquire the space. With this new approach, I can take the property managers up on their offer to lease the space but how will that impact my application to purchase the space? That's a question for both Florida First Capital and Larin- my personal real estate acquisition guru. The new timeline aims for an open date of October 17, 2009 for the conference center and office space at a minimum. I'm not sure yet when we would get the cocktail lounge open but you know how when you're eating something that's so good and you have only one or two bites left? And that last bite is the absolute best? This one bite at a time thing may not be so bad after all!

T MINUS 231: Vivian Green or McFadden and Whitehead?

I might be on an emotional rollcoaster but ain't no stopping us now! Last I posted, I was in love with my construction manager...now they have me on an emotional rollercoaster. Keep in mind, we're talking about having this big grand celebration in 231 days- complete with fireworks, the most beautifully diverse crowd Tallahassee has ever seen in one place, Robin Thicke, liquor sponsors out the whazoo and the sexiest decor in Tallahassee (outside of the lobby at Springhill Suites on Apalachee Parkway). Let us also not forget that the startup costs for the project are just shy of $3M and I have accumulated the same amount of capital I had on T MINUS 365!

So why the emotional rollercoaster? Because in our efforts to address the parking issue, we decided to 'park' any efforts to pull together the figures I would need for my construction bid. Let us not forget that this the federal government that we are dealing with as a part of my capital campaign and I won't be able to address the parking issue EVER if I don't get the funding! Remember that whole discussion about needing 1 parking space for every 200 ground square feet? That's where we've been hung up.

The asking price for the property includes the 15,000 square foot building and the adjacent lot. This lot is about 5,000 square feet by itself and according to their calculations (350 square feet per parking space), I would need 19,000 square feet of space to build in those 56.25 spaces needed per the zoning requirement. I'm taking a hard look at that figure because 19,000 SF is bigger than the facility itself! Now, in my efforts to put the parking space requirements in perspective, their office looks like it has about 18 parking spaces and that lot looks like it's only about 1/3 of the space that comes with my property.

After a meeting last week, I was charged with the task of identifying opportunities to lease parking spaces from areas businesses and agencies. The main reason that parking has presented itself as a problem is because I have to make sure that they amenity is available- and mainly only for the constituents that will be making use of the conference center (as for the restaurant, there are 3 State buildings within a one-block radius of Concept so their cars already parked nearby and the cocktail lounge patrons won't have any trouble finding parking after hours because, trust me, State workers are already home by the time 5 oclock comes!).

Either way, like McFadden and Whitehead said so long ago, there won't be any stopping me now...surely, I haven't come this far to let something as simple as parking stop this rollercoaster but let's refocus our efforts and get me my construction bid so I get my SBA Loan so I can address the parking issue!

T MINUS 240: The Silver Bullet

My construction manager is the best! I’ve always been a big fan of the company and now I get to see up close and personal what working with one of Tallahassee’s leaders in green construction is really all about. I retained the company at a rate of $2,500 about a month ago to get some real, practical numbers plugged into my financial projections. But before we did that, we had to ensure that the zoning and permitting for the proposed location would even allow Concept to exist there.

The Zoning Code prevents any establishment that serves or sells alcohol from being within 500 feet of any school, church or other establishment of similar nature. We took out a map and drew to scale a radius of 500 feet. They went on a field trip to scout out the area for establishments that would prevent Concept from being in that building and found a day care and a church. The Silver Bullet. It would have killed the project dead in the water. They called the City to get some clarification on that rule and as it turns out, we dodged The Silver Bullet. That 500 feet is 500 feet of walking distance and only includes ‘walkable’ spaces. Meaning, if there is an empty lot in the middle of the walking path that is not accessible to pedestrians, you subtract that space. The day care wasn’t included because it isn’t a school and their was something on the path to the church that made it more that 500 walking feet. So…we dodged The Silver Bullet.

The question that we come to now is parking. Even though Concept’s location falls outside of the Downtown Improvement Authority district, for all intents and purposes, Concept will be a part of Downtown Tallahassee activity…and parking downtown is always perceived as the most inconvenient thing about being downtown. The City of Tallahassee’s Growth Management and Planning Departments have minimum parking standards per zone. The zone that Concept will be in, the Capital Center Planning District, calls for 1 parking space for every 200 ground square feet; the structure that houses Concept is 15,000 total square feet. That means our parking requirement is 75 spaces.

The building is located in both an Enterprise Zone and the Frenchtown/Southside Community Redevelopment Area; the project gets 18.75 redevelopment credits bringing the net required parking spaces required to 56.25, or 56. The asking price for the building actually includes an adjacent lot that is approximately 43 x 130 square feet, or 5,590 square feet. It will take about 350 square feet for one parking space, meaning I would over 19,000 square feet just to build in the required number of parking spaces. I can always appeal to the Parking Standards Committee to reduce the requirement for the project but I have to be careful about that.

Let’s say my appeal to Parking Standards is approved and I can get away with the 30 parking spaces that are ‘included’ in the property that I will acquire. One of the revenue drivers for the Group is the conference center and meeting space. It won’t make much sense to have a conference center that meets the needs of my constituents and customers if they have nowhere to park- that’s like not having a conference center at all. We talked about the next step as engaging an architect but before that money is spent, it would behoove me to understand my options for parking. Are all the lots adjacent to the building, not just the one immediately adjacent, available for sale? If so, what would the asking price be for that? If not, what other options do I have to make easy access to parking a true amenity for the property? More than that, what did the previous tenants do for parking when it was occupied 5 years ago? What businesses or spaces in close proximity might allow me to make some parking lease arrangements to use their space for my customers’ parking options?

My line sister owns a car wash about 3 blocks from where Concept will be. It’s an open space that has 3 tented areas so the employees can carry out their service duties; I would say about 15 cars could park their easily. She is open to allowing me to lease the space from her for the purposes of the project. I would need to provide a shuttle service from her business to Concept to account for the distance but that allows for further opportunity for my employees to build relationships with our customers. Or, I could form a partnership with one of the transportation companies in town that would extend a business opportunity to them to enhance their clientele and form their own relationships.

T MINUS 241: Last Call

Last Call: Two words that bartenders sometimes reeeaaallllyyy look forward to. Not the case at the event last night- ‘last call’ came about an hour earlier than we had anticipated. Celebrating the graduates of Florida A&M, Florida State and TCC, the event was held at a private venue in Tallahassee, an art gallery. Drink tickets were available at the registration table for the attendees and there were some VIPs that drank on the house. One of those VIPs was an employee at the venue; we were told that he didn’t need a ticket to drink so we made sure to take care of him. I think he took advantage of that offer from the event organizers- he was ‘buying’ drinks for a couple of his friends and came back about 3 times in hour. There was another guy came up to the bar and said “I work here.” Okay, and?

I confirmed that the “I work here” guy was to receive a complimentary drink and it was A complimentary drink, not a comped out drink tab. Because 71 Proof had been entrusted to ensure a successful bar operation (and because people need to know that Concept is a for-profit establishment), I felt it was my duty to inform the event organizers of the possibility of the employees of the venue usurping the ‘power’ of their positions. I suggested that they get their tickets comped out but bring them to the bar just like everyone else. I guess the employees didn’t like my suggestion. That’s fine but don’t try to take advantage of my bar. Try to get over somewhere else.

Now this could be me being supersensitive, but I’m pretty sure that the earlier than scheduled ‘last call’ could have come about because of their bruised egos. If that’s the case, SFM, please accept my apologies.

So what’s last call all about anyway? Why do the bars all close at 2 am? Last call is a city ordinance that mandates that no alcoholic beverages be sold or served after 2 am, at least that’s the case in Tallahassee. The bars close at 2 am because they aren’t going to generate any further revenue even though they are still generating expenses. Utilities and labor costs, while they may be incremental, are typically the argument used to justify herding all the patrons out the door like sheep when the clock strikes 2.

Because we will be serving breakfast on Friday, Saturday and Sunday mornings, there won’t be a need to herd people out at Concept. I don’t think we’ll have to find a way to engage our patrons after 2 am on any other night because they’ll be needing to get to work in the next day- they are professionals you know.

T MINUS 247: Turn It Up A Notch

Has it really been 30 days since I last blogged about Concept? So I've had nothing to say in 30 days?? Probably because I feel like I've accomplished nothing! Lol. That's far from the truth though and my alter ego knows it...it's just that I'm an artist and I sensitive about my sh*t! (Per Erykah Badu). So where do we begin?

The last meeting I had with the construction manager was encouraging. The building has no zoning or permitting restrictions- we just have to conduct the environmental assessment to make sure there aren't any asbestos hazards. The zoning for that requires us to have about 74 or so parking spaces at Concept. Because the building is in a Community Redevelopment Area (CRA), I actually get about 18 parking lot credits bringing the requirement down to 56. The asking price for the building includes the adjacent property, which would only accommodate about 1/3 of the parking spaces I would need. I can either purchase more of the land that is adjacent to the building or talk to the Parking Standards Committee and ask them to reconsider the amount of parking spaces I need for the project. The other thing is to work with Capitol Police about securing some of the parking spaces in the State garages for after-hours guests.

The securities attorney gave me some really good feedback on the business plan- tells me it is very comprehensive and only needs a little bit of polishing. He also serves as the director of a local bank and said that they wouldn't be able to finance the loan because I don't have any applied experience. I understand that position but naturally, I disagree lol. Let's think about how many hospitality venues (restaurants, clubs and bars) that have opened and closed in the last 3, 5 or 7 years. I might not have the applied experience that they have but I'm pretty confident that I won't have to spend those 3, 5 or 7 years learning how to keep the business profitable- thanks to my degree in Wine, Spirits and Beverage Management. I mean, how many people really think about their contribution margin, labor cost and menu mechanics for 2 years before they open their doors? There are businesses in Tallahassee, RIGHT NOW, that are figuring that out as they go along.

As for 71 Proof, we are being considered for exclusive contracts for two major constituents for the upcoming football season here in Tallahassee. Which meansI was recently featured in The FAMUan, the award-winning news publication for Florida A&M University...twice in one week! And I'm also working diligently on the idea that I have for the Collegiate Chamber of Commerce. Hopefully, I'll be able to work with a couple of organizations like the Greater Tallahassee Chamber of Commerce and the U.S. Junior Chamber (or Jaycees) to bring this to fruition. That is a really exciting project! It's going to be a way for me to pay it forward so I'm super excited about how that is unfolding. One of my other business projects is also finally coming to fruition. All-Star Consulting & Events is the consulting branch of 71 Proof; the business focuses on celebrity event planning with a focus on sport hospitality.

I've been told to focus on the little wins. I'm doing my best but it all boils down to Concept. I've been working on this project for 22 months...that's a toddler! I've got a lot vested and INvested in this and I can't even begin to think of what would happen to my (already extremely fragile) emotional state if this...yeah, I can't even say it. I remain steadfast in my quest for a NYE Grand Opening and I swear if I could do this all myself, I wouldn't have anything to worry about. If I could do the renderings and complete the design schematics and complete the renovations and develop the prospectus and get the collateral materials to pitch to investors and have the 10 stacks I need to retain all these people, Concept would be open next month if I could. But alas, I have done everything that I'm capable of right now.

What did Larin say? "Well turn it up a notch, you knew going in this wasn't going to easy. Successful people shine the brighest when times are toughest"...as I listen to Jazmine Sullivan's 'Fear.'

T MINUS 274: All By Myself

I submitted my application for graduation to the powers that be at the Art Institute yesterday. I was headed to my car to get back on the road to Tally when I bumped into one the many great friends I made during my stay in Tampa. She asked me how things were going so I filled her in on the triumphs I've had so far and the challenges that I attempt to overcome day by day.

She said, "So, who's helping you do all this?" Now that is a question I hadn't gotten before. Helping me? Who's helping me? It was almost like she was speaking another language. Who could help me? And help me do what? Do market research at every opportunity (met a server today who need NOT apply...EVER!...at Concept) or revise the business plan every 4 or 5 days? Go to Chamber functions and serve as an Ambassador or figure out how to staff an upcoming event? Update all my social media sites or update the bartender's training manual for the class that I will be teaching in the next couple of weeks? Or, develop a series of cocktail recipes for friends, clients and contests while conducting research for a panel discussion on "The power of the Black Dollar"?

I had to tell her that I've been doing it all by myself: meeting with construction managers; learning about tax incentives for being in both an Enterprise Zone and a Community Redevelopment Agency area; finding out the approximate tax revenue that will be generated from Concept (a little over $100K by the end of 2010 and that's just on beverage sales) and talking to folks at the Master Craftsman Art Studio about design pieces for the venue.

And while I may have been doing all that by myself, I would not be able to do all that if it weren't for the support system I have in place. I cannot put a price tag on the value of their support. Take my sister for instance. She's not a bartender but if she had not made herself available to bar back at the event I had on Saturday, I would not have been able to go down to Tampa and coordinate a group of volunteers to help out at the Rum Festival in Ybor. And those volunteers? My old roommates and two of my closest friends. If it weren't for them, I wouldn't have had the opportunity to meet Jack Robertiello (former editor of Cheers Magazine and current editor of the Adams Beverage Group website, www.adamsbevgroup.com) and Sparky. Sparky lives on Davis Island and is planning a big block party that he wants 71 Proof and crew to bartend at in May!

I also wouldn't be able to pay the retainer for the construction manager that I met with today, the naming rights consultant that I'll be meeting with on Thursday and the securities attorney that I'm meeting next Tuesday if it weren't for a friend of the family that has become my seed round funding angel. What about Keeba? She's going to meet Terry at the hotel for me tomorrow since I have to report to work at the Flite tomorrow evening. So, I guess I misspoke.

If she asked me again, 'who's been helping you do all this?', it would take me 274 days to list all the names!

T MINUS 278: Skin In The Game

It's been 3 days since I had the chance (or made the time, really) to journal about the latest updates on Concept and I can tell! I've never really had the discipline to do anything as routine as journaling on a daily basis- or exercise on a regular basis for that matter- but the three days that I've gone without journaling has really taken its toll on me. Writing has always been cathartic for me and the journey of living this dream is no exception. Since I was here last, I had a meeting with a local banker who set out to intentionally shoot holes in my theory; the bank put a hold on the money I need to pay the construction manager to retain him and I learned that, even if you are independently wealthy, getting ahold of liquor license can still be hard to come by.

I must have brought my mom closer to a nervous breakdown than I am when I called her last night. I've tried not to bother anybody with the challenges that I've faced so far because just thinking about what the naysayers would have me believe gives them the power they are seeking. There has been so much negativity that I have faced in doing this day by day that when I was met with positivity for the first time yesterday, I didn't know what to do! I met with a guy who has a vision similar to mine, who wants to change the nightlife scene here in Tallahassee and we are thinking about some ways to work together moving forward. I spoke with someone who is seriously interested in being a part of the success of Concept and wants an ownership stake in the business. Those two encounters alone are worth far more than any other challenges.

Like the challenge of having the capital and collateral needed to back the loan application I will be submitting. They asked me about 'skin in the game.' How much of your own capital will you put up to get the loan that you are seeking? That's a fair question- I have to have something at risk for it to be worth my while. I would venture to say that the risk that I've put in are the opportunity costs that I have paid to date to pursue this dream. Dr. Wilson would be proud that I still know what an opportunity cost is: the value of something that has been sacrificed in order to capitalize on another opportunity.

I left my 'lucrative' career in pharmaceutical sales in 2007 to be a full-time entrepreneur. My 2006 tax return said that my AGI was $63K (I didn't have shit to show for it though). So, not accounting for the time value of money and any increase in the cost of living, let's theorize that my gross income for 2007 and 2008 would have remained at that figure had I stayed in sales. That opportunity cost is $126K.

The Art Institute of Tampa's tuition per credit hour is $450; I have accumulated 112 credits. The opportunity cost for my degree is then $50,400. While I was in school, I commuted between Tampa and Tallahassee nearly every weekend so that I could try to maintain a presence in the business community with 71 Proof. My car is 3 years old and has a 125,000 miles because of that...I don't even want to get into the depreciation expense on that.

That brings my skin in the game to $176,400 so far. Hopefully, my financial advisor isn't reading this, but I also liquidated my 401K- now granted I had only been in Corporate America for three years so I had only accumulated a little over $10K ..and then with the state of the stock market, it's value has decreased by 30%. So, with early distribution penalties of around 20% when it's all said and done AND the opportunity cost I'm paying by not allowing the fund to continue to grow, I'd say that's about another $20,000 ballpark.

All things considered, I would say I'm in pretty deep.

T MINUS 282: I've Done All I Can

The last couple of days, I woken up feel extremely restless- like I hadn't accomplished anything in the last couple of days. And that's exactly right.

I haven't done anymore updates to the business plan for Concept, no more market research except for visiting this website www.regus.com to get an idea of how I want the business incubator to be set up. I haven't really done any more prospecting for potential investors either. I used to make it a point that no matter where I was going in the downtown area that I would drive the building where Concept will be housed in 248 days but I haven't even done that since I tried to make arrangements to get up on the roof...oh, did I tell you about that?

Excuse the fireside chat but I needed to get up on the roof to take pictures of the structure in order to send to the engineers at Roll-A-Cover. The only roof access panel is in the women's bathroom on the 3rd floor. So Alan and I got the ladder up two flights of stairs, into the bathroom and inside the first stall. He climbed up and I steadied the ladder with one hand and held the flashlight with the other. When he got as high as he could, he pushed up on the access panel and a little sunlight peaked in. I saw something fall from the panel and then feel it hit me on the forearm but I wasn't alarmed. It wasn't until I pointed the flashlight towards the ground and saw that it was a GECKO that had fallen on me did I want to scream. I screamed in my head because I didn't want to frighten Alan lol. I'm still traumatized...

Back to the lesson at hand though. So I came to realize yesterday that I have literally laid all the ground work I can for right now. It's time to bring in the big(ger) guns and put them to work. It's time to retain the construction manager so that he can get his team of engineers and architects involved; it's time to retain the securities attorney (who I need to call again) so that we can get started developing this prospectus in order to raise the balance of $1M for the project. It's also time to retain Terry Burton of Dig In Research (www.diginresearch.biz). I found out about Terry when I started doing research on naming rights in the for-profit sector- and by naming rights I mean the Quicken Loans Arena or the Ghazvini Center for Health Care Education here in Tallahassee (www.tiny.cc/tmh). That will be another capital campaign that we use at Concept to raise this money.

So, yes I have been quite unproductive and it gets me to feeling like I'm headed for trouble. But I've done all I can and now it's time to share in the power.

T MINUS 284 V2: I'm done son!

On July 21, 2007 I decided that I wanted to own and operate my own cocktail lounge. I was at my first visit to Tales of the Cocktail in New Orleans and had contacted the event organizer, the then Ann Rogers, about volunteering. I happened across the website for Tales (http://www.talesofthecocktail.com/) after I learned about the Museum of the American Cocktail, also based in New Orleans.

That was my first visit to Tales...it won't be my last! It was my first introduction to this secret little world of cocktails. So much history and so much to learn and you know me, I'm a student of life so I wasn't going to pass up that learning opportunity. I made it back to Tallahassee on July 23rd and promptly began researching my opportunities for a structured learning environment on how to operate a cocktail lounge. Sure I found books in the library about the ropes to skip and the ropes to know but I didn't feel prepared for the next step towards hospitality ownership based simply on those resources.

That's when I came across the Wine, Spirits and Beverage Management Program at the Art Institutes. Out of the 35 schools spattered across the country, only 3 of them offered this particular program: New York, Atlanta and Tampa. I decided on Tampa since that's where this all started...and met some of the greatest friends in the world, might I add! My sorors Bennisha and Chasma; classmates Pam, Jos and Cristelle; co-workers Jemaar, Angie, Samyra and Kim; roomies Marcine, Britt and Nilesia...they made my life in Tampa worth the sacrifice of leaving my life in Tally behind temporarily.

I started my classes on October 1, 2007 promptly after completing my first attempt at the Beverage Alcohol Resource program in NYC. The degree program is comprised of 112 credits and 45 of those were transferred in from my matriculation at FAMU- thank God for that MBA! So what should have taken me 21 months to complete only took 15. They weren't ready for me.

See I came into the program knowing my product I wanted to produce, I just needed the guidance and direction to do it. Most of the students who matriculate through the creative programs at Ai are preparing themselves to work for someone else but not me. I went in knowing that I would be working for myself and the class that I was most excited about was my capstone class- the course where I would graded on the caliber of the business plan that I produced.

That plan is now in its 5th draft and next week is my last week as a student of the Art Institute of Tampa. I will be the program's first graduate on March 27, 2009. The ceremony will be in June sometime so I'll keep you posted but just know that I'm done son!

T-284: Form vs. Function

She flipped through the magazine's pages and asked me, "Tanya, are you sure no one has gotten ahold of your business plan?" I responded by laughing it off. It was a couple of days later that I flipped through that same magazine and thought to myself 'this sounds a WHOLE lot like what I want to do with Concept!' There's nothing wrong with healthy competition and, as a matter of fact, competition keeps us on our toes but this sounds more like a mirror image than healthy competition! It was the first time in the 2 years that I've been working on this project that I really got anxious about the competition that I would be facing.

Modern decor and design that speaks to the business and traveling professional is definitely making it's way to Tallahassee. Venues and attractions are opening and being updated with the design style of the season and Concept will follow suit. I went into a lounge in downtown Tallahassee and saw the same lighting fixtures that I had considered for Concept while perusing an issue of Hospitality Design magazine. I decided against those fixtures before I event visited that venue in my 'market research'. They weren't classic enough for me. They didn't seem like they would be relevant, or that they would fit, 5 years from now.

And the rooftop lounge. When my business plan was in its first, second and third drafts, it was accurate to say that Concept would be the only venue in Tallahassee with a rooftop lounge. In 284 days, we will be the second. I saw those renderings and got really nervous! So what was going to be my USP- the unique selling proposition for Concept if not the rooftop lounge? Would LEED standards/certification set us apart? Would having that flexible meeting space do it? What about our menu items of certified organic food and beverage products...would that really be our value proposition?

Would the fact that Concept will have Tallahassee's only retractable rooftop lounge seal the deal or would the elements of exclusivity be the ticket? Since there is no such thing as 'VIP' at Concept, would the "For Tastemakers Only" memberships- the status that gives you access to very exclusive events- bring you to Concept when you have options that appear similar?

I went to my unofficial board of advisors and had a 'come to Jesus' talk with them about this place that I found myself in. They told me to consider not just the form of this competition but the function. While our forms may be similar, their function is not to create the social experiences that you will find at Concept. That is a different type of hospitality establishment altogether...its form versus function.

T-287: FAMU Veteran Softball Coach Goes for Win # 500

The 2009 poster for FAMU's Softball team reads: "PRIDE- If you don't believe, you don't belong." The team is gathered on the Lady Rattler Softball Complex holding a banner that reads simply '500' with the caption saying that Coach Veronica Wiggins is going for her 500th career win.

Auntie (as she called when it's NOT softball season) has been retiring from her 16-year position as the Head Coach for FAMU's Softball team for at least the last 5 years. Currently, the team's record is a miserable 5-19 but if they get their act together, if they just start to believe in themselves and their own ability, a record of 7-19 (they play a double header against Savannah State University today at 3p and 5p at FAMU, here in Tallahassee) can take her to her 500th career win. But, as the slogan reads, if you don't believe then you do not belong.

And that's what I've been finding in this quest for Concept. There are many that don't believe that my vision is attainable but those that do believe certainly do belong in my circle- you all keep me going and you should know how much I value your support. Speaking of value...

My projected startup costs are $2.7M. The SBA's 504 Loan could possibly absorb about $1.7M of those costs ($1.1M for the building and land, estimated $500K for the buildout to LEED standards, $100K for furniture, fixtures and equipment [FFE] and $100K for soft costs like architects and engineers). The remaining balance of $1M will have to come from private equity participation and some very creative capital-raising alternatives lol.

Now I'm faced with the question of how much ownership am I willing to relinquish to make this happen? In order to maintain control, you know that at a minimum, I must maintain at least a 51% share of the company but to offer up 49% of the company at a value of $1M brings my pre-money valuation only to about $2M and that's no good lol. I thought about 25%. That brings the valuation to $4M (that is, if 25% of the business is worth, or valued at, $1M then 100% of the business is valued at $4M- or at least that's my understanding of it). $4M is far better than $2M but let's explore that further.

What about if I reliquished only 20% of Concept (the entire portfolio)? That would bring the pre-money valuation to $5M...which isn't too shabby. I hope to be able to chat with a securities attorney about this in the next couple of weeks to get a better feel for this.

So, what have we learned today? That's is takes belief in yourself more than someone else's belief in you to get where you want to be. If you don't believe, you don't belong.

T-288: Going in Circles

It wouldn't seem right if anything associated with this project moved in linear fashion. If the construction manager could do his job at Step 1, the engineer, his at Step 2 and the architect do hist at Step3, it wouldn't sit well with the Universe.

Concept will be a green social and business space that is dedicated to sustainable operating by using products that have been sourced responsibly. That goes from using an existing structure for the project (industrial recycling) to making sure that the paints we use do not emit volatile organic compounds (VOCs) to ensuring that are food products will be certified organic.

Let's start with the existing structure. The building that will house Concept was built in 1971 (oooooo-oooop!!) and has been empty for about 5 years now. The construction manager that I want to lead the project can't give me an estimate on the cost of the buildout or a specific timeline unless he has an understanding of what the Heating-Ventilation-Air Conditioner (HVAC) system looks like and its capability to handle the output that I would need for a successful venue of this nature. He also needs insight on the Mechanics, Electricity and Plumbing (MEP) capacity. He can't do those things without an engineer. I asked him if he had an engineer that he could recommend and he said that he did.

OR! I could just hire he and his staff to outsource those jobs, look into zoning and permitting and bring on their own architect and designer. Because unless he had that information, he wouldn't be able to supply me with a construction bid. Which I need for my SBA 504 Loan Application. I can't submit the application unless the lender has an idea of the construction timeline and cost. The contract for the pre-construction services for Concept will be my first official expense for the project but it will only be one of many.

T-289: To the Sky

"It's amazing the way darkness falls, and the truth out there is cold and nothing can keep you warm...I gotta know right now will I be rich, have everything I want. I stop myself and look to the sky."

Most of the people that know me, know that I love me some Robin Thicke! Not because, as Vibe magazine called him in the October 2008 issue, he's "the white boy that turned you out" (pg 112) or because I really think he's a black man in a white man's body or even because his music crosses genres, generations and gender gaps. But because his music is the soundtrack to my life. "2 The Sky" is track #14 on Thicke's second album, The Evolution of Robin Thicke, and I have it on repeat so much that the track has started to skip lol.

The song goes on to say that the material things don't matter. The faster car, the bigger house- none of that matters in the end because all you really need is friends and love. And that's what I've found I have: more friends than enemies and more love and support than what the naysayers will have me believe. It's time to look to the sky!

And boy will we be doing that at Concept! The building that I will be submitting an SBA loan application for is 15,000 total square feet with 3 floors. The project calls for an additional floor to be added which will be the rooftop garden and lounge. I went to the Florida Restaurant and Lodging Show in October 2007 and saw a retractable rooftop enclosure that I knew I had to have (www.rollacover.com).

The rooftop is approximately 4,300 square feet and at $80 per square foot for the enclosure, it's going to be tough to get a decent ROI on the $344K it will take to add that to the project. So, I've decided to have the enclosure cover 22x75 of space bringing me to $132,000 for that line item in the budget. When Robin is performing at the Grand Opening Celebration for Concept, maybe we'll have it on the rooftop and I can be on my way to recouping that investment via ticket sales!!

T-290: Transference of Power

It's amazing how much power I have given to people around me- people I don't event know! For instance, last week I set up a meeting with a commerical real estate lender and one of his counterparts from a local bank so that I could start practicing my pitch for Concept. I think I did a great job fielding their questions about "Why so big?" and "How are you going to pay this note?" and "Why Tallahassee?" and "What makes you think going green is going to be a selling point for you?".

Questions that I readily had the answer to along with the logic and data to support those answers. I followed up with both of them asking for their feedback on how I could make the presentation stronger, especially from the standpoint of talking to investors about equity participation. Didn't hear back from one and the other completely blew off my question. I will say that he was nice about blowing me off. He said "I wish you the best with your idea. Good luck." I don't know about you but that sounds like an extremely polite way of saying "I don't think you're going to make it and I don't want to be around to see the fallout." Now mind you, I am extremely sensitive about this. Concept is my baby, my child and going through this I can't imagine what it's like being a parent. Being filled with so much love and fear at the same time.

The very next day, I had set up an appointment with an accountant, a contractor and a marketing consultant. The accountant asked me the same question "Why is your vision so big?". The contractor told me "Boy, you're dreaming big aren't you?" And the marketing consultant asked, "Why go from a business with no overhead to a business with as huge an overhead as this project will have?". See that's just it! This isn't my vision! I promise you it isn't...I just want to friggin bartend! Everything else is an extension of that.

Getting back to today though, I was feeling quite discouraged but I had to come back to my senses. Really, why should I feel discouraged? I know that I will never be forsaken and I am glad to know that. It's time to take my power back!

T-291: The Odds Have Been Against Me

As big as the vision that I have Concept is, I had better be in church this morning praying for God's favor. I was eating my first meal of the day and Grandma had the tv tuned into to BET's "Lift Every Voice" and a Mary Mary video happened to come on. How does the chorus go? "Get up, cause you can't stop....Get up, don't sit back, Get up, if you wanna get there."

I've always been extremely sensitive and when I say I cry at the drop of a hat, I soooo mean it.
So I sat there crying into the rice and potatoes I was eating at 10:30 in the morning thinking about how much I have given up and sacrificed in this my pursuit of entrepreneurship. My cousin and I joke about why I spend so much of my day going from meeting to meeting or sitting in front of the computer for up to 10 hours at a time. I tell her that I'm just trying to make a name for myself. She called me this morning at 9:46a asking me why I wasn't up trying to make a name for myself so it was only fitting that Mary Mary's song would be the first one I heard this morning.

We had a guest speaker this morning as the youth members of the church conducted the service. Mr. Fred Simmons spoke to us from the subject of "When the Odds Are Against You" and led the sermon with Judges 7:1-7. This is the story where God reduced Gideon's army from over 22,000 to just 300 in the Israelites fight against the Midianites because God knew that if Gideon defeated them with soldiers numbering 22,000, He would not have been given the glory- that the Israelites "would become boastful, saying, 'My own power has delivered me.'" (NAS)

Sure enough, the odds have been against me. A young, African-American woman working in one of many industries where none of the leaders and influencers look like me. I'm undertaking a project where the success rate is less than 5%, going from a business little to no overhead to one with overhead expenses of nearly $50,000 per month. The projected startup costs are $2.7M and my net worth is like, what, zero? I have 291 days until the proposed Grand Opening of this project and I have accumulated approximately 0% of that figure.

So the odds have definitely been against me but the few that have been for me are definitely working in my favor.