"They're the engine of our community': 37 Oaks' Terrand Smith helps entrepreneurs grow their businesses
CHICAGO (CBS) -- A Chicago businesswoman with roots in the corporate world wants to help small business owners get their name and products out there for everyone to see, enjoy and experience.
CBS News Chicago's Jamaica Ponder visited the warehouse in McKinley Park, housing the entire inventory of the Sokoni store, an e-commerce development learning laboratory for small business owners.
Sokonishop.com is a where new entrepreneurs can test out selling their products online before trying to get them into big box stores. And now all of this is part of a larger business development program called 37 Oaks, started by Terrand Smith.
Smith said her program helps to support small business owners, not only in Chicago, but across the country.
"37 Oaks is the Commerce Development and Learning Laboratory, and we focus on educating and preparing small businesses for growth through either e-commerce storefronts, pop ups and wholesale," said Smith.
Terrand Smith founded 37 Oaks in Chicago seven years ago. She was coming out of a nearly 20-year-long career in corporate America and unexpectedly fell into entrepreneurship.
"I was a national buyer for some of the larger retail organizations in the United States. So I was working with, let's say, the big guys, the P&Gs, the Unilevers of the world, but I was also working with like regional businesses. And what I noticed was a lot of the regional businesses, when they came to try to get their products on the shelves of some of these larger retailers. Again, they had amazing products, but they didn't understand what it actually took to do it," said Smith.
Smith said she noticed that prematurely entering into deals and contracts could do more to hurt businesses than to help them grow. She started 37 Oaks as a way to get to small business owners early and to help them formulate adaptable and effective plans of action.
"What we're really trying to do is revitalize lives and strengthen communities through commerce. So what we feel is that there are so many talented entrepreneurs and small business owners around this country, and a lot of them have the potential to really impact their communities by growing what they don't necessarily have, what we call the commerce, the retail, and that distribution acumen or that knowledge," said Smith.
"What we do is we provide a lot of education and coaching and other platforms. So one of the platforms to help them grow is Sokoni," said Smith.
Sokoni Shop is the practice platform for entrepreneurs enrolled in 37 Oaks program. It's a live marketplace where users can browse over 500 products from over 100 small businesses. And it's commonplace for products to graduate from Sokoni Shop making their way into big box retail stores.
"So really, we understand the importance and the power of small businesses. We really believe that they're the engine of our community," said Smith.
And to make her programs more robust and accessible, Smith has partnered with economic development organizations and initiatives like the FedEx E-Commerce Learning Lab, which come with grants, connections, and additional resources for small business owners.
"For example, through the FedEx Learning Laboratory, those businesses get to go through like a six-month program. They have a combination of 37 Oaks University courses. They have one on one coaching, their products are on Sokonishop.com where they're kind of applying the learnings and kind of getting the kinks out of their e-commerce marketing and operations so they can really improve the quality of life within our neighborhoods," said Smith.
"And in some cases, these business owners may be the only options that customers can actually shop from. So it's part of not only my mission but my responsibility to help these businesses grow and thrive so that they can help their communities," said Smith.
If you're looking to buy gifts from small businesses this holiday season, Terrand says that Sokoni is your one-stop shop, especially if you're looking to shop locally. You can search their entire inventory online at Sokonishop.com.
Smith has also recently released a book outlining more tips and tricks of the trade for budding entrepreneurs. You can learn more about her latest release, Prepare to Shift: The Workbook on her website, www.terrandsmith.com
