212. "I Didn’t Think I Was Going to Make It to Summer" - How a Cafe Owner Paid Off $79K and Took Back Control

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Episode Synopsis: 

In this episode, Gina Knox interviews Cathy Yerges, a cafe and specialty food store owner from Cambridge, Wisconsin. Cathy shares her journey of starting her business just before the COVID-19 pandemic and the challenges she faced, including navigating debt and the need to pivot her business model. She discusses the importance of community support, the lessons learned from joining Small Business Money School, and how she has shifted her focus to new revenue streams, including opening a bookstore. Cathy emphasizes the value of vulnerability and community in overcoming business challenges and shares her excitement about future growth and stability.

Timestamps:

00:00 - Introduction to Cathy Yerges and Her Business Journey
05:16 - Navigating COVID Debt and Financial Challenges
22:23 - Embracing Change and Letting Go
23:37 - Paying Off Debt and Financial Freedom
26:30 - Inventory Management and Cash Flow Strategies
32:11 - Navigating Emotional Challenges in Business
33:51 - The Importance of Community and Support
36:10 - Realities Behind Business Success
39:31 - Taking Control of Your Business Journey

About Cathy Yerges:

Cathy Yerges is a leader with a servant's heart, believing collaboration beats competition every time. She embraces the philosophy that ""it takes a village"" to create meaningful change and transform neighbors into friends. With a background in banking and finance, Cathy is passionate about revitalizing Main Street and rural living through community building.

Cathy owns Cambridge Market, a cafe and specialty food store, and recently opened Mustard Seed Books, creating gathering places where people break bread, share conversation, and support local makers. Her work focuses on promoting collective well-being and strengthening community bonds through simple acts of coming together and celebrating local talent.

She also serves as Executive Director and co-founder of Collaborative 523, Inc., driving community development initiatives throughout Cambridge, Wisconsin.

Where to find Cathy:

Website: https://www.cambridgemarket.net 
Facebook: https://www.facebook.com/cambridgemarket 
Instagram: https://www.instagram.com/cambridge_market/ 

Category: Entrepreneurship

Keywords: small business, COVID-19, COVID debt, financial challenges, community support, entrepreneurship, business coaching, debt management, revenue streams, local business, business growth, merchant financing, square loan, small business loan, inventory management