Ask an Expert: Tap into the power of community

— -- Q: I own an Italian market in New York. I would like to expand, even if the conventional wisdom says it's not the right time. That said, getting a loan is hard and I'm not sure I have the resources to do it without some help. What should I do? — Max

A: Well, if it's help you need to grow your business, then you should get some. What if I told you there was an easy way to get that help, and it won't cost you hardly a cent? And what if I further told you this method is incredibly powerful and historically successful?

I thought you might be interested.

Think for a moment about all of the immigrants who have come to this country, be it Irish Catholics, Eastern European Jews, Asians, whomever. When you hear their success stories, usually it's because they were industrious, hard-working, entrepreneurial, thrifty, and so on.

They also tapped the power of their community.

Historically, when an immigrant starts a new business in this country, their first taste of success comes when members of the community begin to frequent the business. Word gets around, other members of the group start to show up, and the fledgling business takes root. If the business is really good, then the word of mouth continues to grow, and the business expands organically, seemingly effortlessly.

But it's not just new immigrants who can tap the power of community, almost any business can.

Sophy Khut and her family escaped Cambodia after the war and moved to the Portland, Oregon in 1976 when she was about 10 years old. As she became a young woman, needing to help her family, she began to work in an aunt's restaurant, doing everything from washing dishes and mopping floors to cleaning up and bussing tables. She opened her own restaurant just a year later — when she was but 22. But with the help of the local Cambodian community, it started strong. Their continued support helped the restaurant grow.

Buoyed by her success, Sophy looked around and realized that a golden opportunity lay not far away: Long Beach, Calif., has the largest Cambodian community anywhere in the world outside of Cambodia. As she told me, "it was a great opportunity and a ready market." So she up and moved to California, by herself, and started another restaurant, from scratch.