Tough Love Helps Minority Business Succeed | Diversity Works

Alicia Vereen (K&J Logistics) and Reginald Vereen (Kwik Transport)

Vereen read an article in Black Enterprise magazine about UP Community Fund, a minority-owned firm that provides flexible loans and technical assistance to small businesses. The article touted UP Community Fund’s ability to not only provide funding, but to also provide assessment, direction, and guidance to entrepreneurs located within the southeastern region.

Vereen reached out and David Sharp, founder and managing partner, promptly responded. An initial meeting quickly ensued, and the business transformation began. To Vereen, the initial meetings felt like interrogations. The questions Sharp and his partners asked made him very uncomfortable.

“First meetings can be tough,” Sharp admitted. “But I knew I had to get in there and find out what all the pain points were so we could see how to best help. For a business to be successful,” Sharp continued, “the owner must know the numbers. What is the daily revenue for each route? How much does it cost to operate this truck daily? These are all numbers that a logistics company should review every single day.”