Small Business Spotlight: A Multi-Faceted Approach to Entrepreneurship Leads to Success

If you are like me, you enjoy spending money at locally owned businesses and supporting the “Shop Local” philosophy. In this article, I’d like to introduce you to a small business that is thriving in a slower-than-normal economy by embracing many different types of entrepreneurship and focusing on supporting and uplifting the community.

The Cumberland Coffee Co. is located in Cumberland County, VA, which is located about halfway between the cities of Richmond and Lynchburg. It sells coffee, tea, fruit juice/smoothie beverages, pastries, and gifts from a historic former bank building.

According to the 2020 US Census, Cumberland County is home to a little under 10,000 people, and the median household income is $56,487/year. This is significantly lower than Virginia’s statewide median household income of $85,873/year. Despite its location in a lower-income area, Cumberland Coffee Co. has become a popular community hot spot ever since it opened in October 2020. It not only survived the pandemic but is thriving.

So, what’s the secret of its success?

First, it’s important to recognize that there are several different types of entrepreneurship that vary based on the entrepreneur’s goals for the type of business they hope to build. A college professor might turn entrepreneur following an innovation sparked through research, while an immigrant might start a small downtown business showcasing the culture and cuisine of their homeland.

According to Indeed, the nation’s top job search website, the nine most common types of entrepreneurship are:

1. Small business
2. Large company
3. Scalable startup
4. Social
5. Innovative
6. Hustler
7. Imitator
8. Researcher
9. Buyer

In addition to representing small business entrepreneurship, of course, the owners and employees of Cumberland Coffee Co. also exemplify five additional types of entrepreneurship on this list, and I believe this multi-faceted approach has contributed to their success.

Social and Hustler Entrepreneurship

Social entrepreneurs want to help solve social problems and add value to the community. Hustler entrepreneurs start small and put in the hard work needed to achieve their goals. The Cumberland Coffee Co. exemplifies both of these types of entrepreneurship by hiring local high school students who need employment and training them to be baristas while also encouraging these young people to create and sell their own art and crafts in the store, potentially creating future entrepreneurs.

Innovative Entrepreneurship

Innovative entrepreneurs are always coming up with new ideas and products. Cumberland Coffee Co. demonstrates this by regularly seeking out and offering new products in its gift shop and web store and creating new partnerships with other local businesses.

Imitator Entrepreneurship

Imitator entrepreneurs take an existing business idea and improve on it. Many of the young creatives the Cumberland Coffee Co. showcases and supports exemplify this type of entrepreneurship as they put their own spin on popular trends. The owners have also used traditional digital marketing ideas as a jumping-off point for their own very creative and successful social media promotions.

Researcher Entrepreneurship

Researcher entrepreneurs take the time to thoroughly research all aspects of their business before they open their doors. As I got to know the owners of Cumberland Coffee Co. better, I learned they had put a lot of research into how they wanted their business to run and how best to keep customers coming back. That initial effort has obviously paid off for them.

Cumberland Coffee Co. is also a community builder, which certainly plays a part in its success. It supports other local businesses and farms by selling their products in the store and hosting special pop-up shops. The owners also help create connections within the community by hosting social activities and events for residents at the store.

Helen Keller once said, “Alone, we can do so little; together, we can do so much.” Truly being a part of your community, lifting others up, and creating relationships where there were none before is not often the number one goal when someone starts a new business, but it should probably be a close second.

Don’t forget to shop local, everyone!

To learn more about our entrepreneurship services, please contact Vice President and Director of Entrepreneurship, Christa O. Franzi, CEcD.

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