Dear ULPDX,
The ULPdxYP Minority Entrepreneur Series celebrates entrepreneurs in our community who embody our mission of 'Lifting Communities As
We Climb'. Entrepreneurs become members of the Urban League of Portland Young
Professionals and we partner to draw awareness to their thought and business leadership.
Our next spotlight is Rolando Mingledoff, owner of Steakadelphia Sandwich Shop. He will be speaking at the next General Body
Meeting Thursday, March 20, 2014.
Interested in being spotlighted in our series?
Email Personal and Professional
Development Chair Aleisha Johnson at ppd@ulpdxyp.org

What made you decide to open your own business?
My interest to open a restaurant was sparked by an opportunity to be self-employed again. I've never lasted long working for other people; I guess I like being my own boss too much. This is the fourth restaurant I've opened. Between 1997 and 2001, I owned two restaurants in Detroit, MI. My current SE Powell location is the second restaurant I've opened in Portland. Being selfemployed and able to control my time and income definitely sparked my interest to open a restaurant again.
What are one of the misconceptions about being in business for yourself?
One misconception about being a business owner is the belief that a good product or service will sell itself. I think success depends on the business owner's ability to have a marketing plan as good as, or better than, the product or service they are selling.
What are some suggestions you have in building capital to take the entrepreneurship leap?

Write up a budget of your income & expenses based on the income you currently have. And in your expenses include an amount you will set aside and save every paycheck. Doesn't matter how big or small, as long as it's growing. And pay your bills on time. Especially those related to your credit, like student loans, credit card, or car payment. Also, network, network, network. You never know who you'll meet and what connections may come from your reputation with others.
What are some tips you would give to our Young
Professionals who are looking to open their own business someday?
The three tips I'd give to a Young Professional looking to open their own business/restaurant is the importance of location, labor and letting everyone know (marketing plan). 1) Location - find a well priced property because
Oregon is full of overpriced real estate that will hurt your chances of long term survival and profitability. 2) Labor - the hardest part of running a business is finding and maintaining a well-trained and reliable workforce. 3)
Letting everyone know (marketing plan) - don't be cheap; spend at least 4% of sales on advertising so you let everyone know who you are, where you are, and what you do better than everyone else.
Any suggestions to those who are concerned about getting the capital to open their own business?
I suggest using credit cards, personal savings, and family loans to build the capital to open your business. I've never been successful at obtaining a small business loan to open a restaurant. However, I have obtained sufficient funding to get my restaurants open by being creative with personal savings, family loans and credit cards.
What do you want to accomplish at Steakadelphia in
2014?
My vision for Steakadelphia in 2014 is to grow the business by opening a 2nd location in Oregon.
The YP community could help me by building a network of affordable, reliable and highly skilled YP contractors
(such as electricians, plumbers & carpenters).