| Ric first came to Chicago SCORE in 2005. He had retired after 32 years as a magazine editor, 20 years with Reader’s Digest and 12 with Dr. Peale. Ric says, “In my editing career, I learned to gather, organize and disseminate disparate data.” Those abilities, coupled with his investments in nine condos, led him to create ChicagoCondosOnline.com.
“My Web site offers what I call DDT—data, documents and tools,” Ric says. “When I went to SCORE, I had what I thought was a great idea, but I needed help turning it into a profitable enterprise.”
In his first meeting at Chicago SCORE’s downtown office, Ric was matched with SCORE counselor Elaine Waxman. She had owned her own real-estate firm and—after selling it—had held senior sales and management positions with one of the giants of the Chicago real-estate market.
“What a connection!” Ric says. “Elaine’s first recommendation was to complete the Web site. It was a multi-thousand dollar risk, but it helped land Fifth Third Bank as our first lender marketing partner, creating a new revenue stream.”
“At SCORE, I also learned of a web developer who saved me tens of thousands of dollars in development costs,” he adds. “Tough criticism by a second counselor, Jerry Hicks, drove me to re-examine and adjust my strategy. The improved business plan won me a $1,000 award from the City of Chicago and strategic advice from MBA candidates at the University of Chicago.” Ric hopes to partner with a local multiple listing service soon, then take the concept to other cities.
“I’ve had a dozen sessions with counselors, not counting phone calls and e-mails,” Ric says. “We focused on strategic planning and marketing. It was all free! Who knows what this counseling would cost on the open market.”
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