CLIENT SPOTLIGHT
Crimson Technology Products
From Travel Fatigue to Entrepreneurial Success: How Crimson Technology Products Doubled Profits with BBIF's Support
Meet Stacia Carter, a former travel account manager turned successful business owner in Orlando, FL. After years of constant travel, Stacia founded Crimson Technology Products, a company specializing in law enforcement and fleet distribution products focused on speed enforcement and awareness. As a Black-owned business, her journey from startup struggles to success exemplifies resilience and the power of effective support.
DEMOGRAPHIC
Black-Owned
LOCATION
Apopka, FL
LOAN PROGRAM
n/a
THE CHALLENGE
Navigating Business Growth Challenges
Stacia started Crimson Technology Products in 2012 with high hopes and a clear business plan. She set up her company as an LLC, offered a diverse product line, and successfully made sales. However, despite doing everything "by the book," her business struggled to grow. The initial excitement turned into frustration as years passed with little to no expansion, highlighting the need for a more refined strategy to break through the stagnant phase.
THE SOLUTION
Tailored Guidance from BBIF's Technical Assistance
In her quest for growth, Stacia attended a local marketing workshop where she connected with a consultant from BBIF’s Technical Assistance team. Since 2018, the team has worked closely with her to overhaul Crimson Technology's operations. They provided Stacia with crucial training on calculating product margins, effective budget management, and strategic marketing planning. This personalized consultancy approach equipped her with the tools needed for sustainable business management.
If you want guidance on how to manage your business correctly, go to BBIF. They made me realize that sales don’t equal profits, and now I have a strong understanding of how every dollar affects my bottom line
Stacia Carter
President
THE IMPACT
Doubling Profits and Empowering a Community
The results of BBIF's intervention were transformative. Under their guidance, Crimson Technology Products not only improved its operational efficiency but also doubled its profits. Stacia's success story turned her into a fervent advocate for BBIF, inspiring other business owners to seek similar support. Her newfound understanding of the intricate balance between sales and profitability has cemented her position as a savvy businesswoman who truly understands the dynamics of her bottom line.
