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Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

Navigating the Journey from Banking to Business Consulting: An Interview with Monica Coburn

In a recent interview, Monica Coburn shared her inspiring journey from a successful banking career to founding Nevada Business Advisors, a firm dedicated to supporting small businesses in various aspects, from certification to financing and strategic consulting. This blog delves into Monica’s transition, the challenges she faced, and the impactful work her firm does to help businesses thrive. 

From Banking to Business Consulting

Monica Coburn spent over two decades in the banking industry, primarily working with small business clients across various sectors such as construction, retail, and food and beverage. Her role as a banker allowed her to understand the unique needs and challenges faced by different businesses. However, there came a point in her career when she felt the need for a change. 

“I always told myself, ‘The day you wake up, Monica, and you’re not loving what you’re doing is a time to make a change,'” Monica recalled. This moment came when a new boss entered the picture, prompting Monica to seriously consider starting her own business. Encouraged by her clients and driven by a desire to create a comprehensive business solutions provider, Monica resigned from her senior VP position and launched Nevada Business Advisors five years ago. 

The Leap of Faith

Transitioning from a secure, high-paying corporate job to entrepreneurship was both scary and exciting for Monica. She emphasized the importance of creating a solid business plan and leveraging her extensive network built during her banking career. Her clients and connections from the business community played a crucial role in getting her new venture off the ground. 

Monica’s first client as a business advisor was a former banking client who supported her decision to go independent. This network of relationships helped her establish a strong foundation for Nevada Business Advisors. 

Comprehensive Business Solutions

Nevada Business Advisors offers a range of services tailored to the needs of small businesses. While they do assist startups, most of their clients are established businesses looking to grow, scale, or overcome stagnation. Monica highlighted the importance of understanding a business thoroughly before offering solutions. This process begins with a discovery session, where her team conducts a mini-SWOT analysis to identify strengths, weaknesses, opportunities, and threats. 

One notable success story involved a manufacturing client struggling with sales. Through their discovery process, Monica’s team identified a toxic work environment created by a company president. After addressing this issue and promoting a more suitable team member, the client’s sales improved significantly.  

Navigating Financial Challenges

Financing remains a core service of Nevada Business Advisors, especially as obtaining capital becomes increasingly challenging for businesses. Monica’s firm assists clients in securing financing from a network of lenders, including nontraditional options like Community Development Financial Institutions (CDFIs). They also provide guidance on grants and other alternative funding solutions. 

Certification and Networking: 

Monica’s firm is certified with WBEC-West, underscoring their commitment to walking the walk and talking the talk. She advocates for certification for businesses where it makes sense, highlighting the benefits and resources available through organizations like WBEC-West. Additionally, Monica stressed the importance of relationship-building and networking for business success. She encouraged entrepreneurs to view networking as a two-way street, focusing on long-term, mutually beneficial relationships rather than short-term transactions. 

Monica Coburn’s journey from banking to business consulting is a testament to the power of following one’s passion and leveraging professional relationships. Through Nevada Business Advisors, she continues to make a significant impact on small businesses, helping them navigate challenges and achieve their goals. Entrepreneurs interested in learning more or seeking guidance can visit Nevada Business Advisors or connect with Monica on LinkedIn. 

Looking Ahead 

Monica’s story is an inspiring example of taking bold steps to pursue a dream while making a positive difference in the business community. Her dedication to providing comprehensive, honest, and transparent advice has established Nevada Business Advisors as a trusted partner for small businesses in Nevada and beyond. To listen to her full journey, go to RadioX’s Women in Motion Podcast using this link: https://businessradiox.com/podcast/women-in-motion/nevada-business-advisors/ 

About Women’s Business Enterprise Council-West (WBEC-West)   

WBEC-West is a regional partner of the Women’s Business Enterprise National Council (WBENC), a coalition of corporations, WBEs, and regionally focused women’s business organizations. As an affiliate organization, WBEC-West implements the certification standards of WBENC throughout Arizona, Colorado, Southern California, Utah, Wyoming, Nevada, Hawaii, and Guam. WBENC is the largest certifier of women’s business enterprises in the U.S. and a leading advocate for women business owners, leaders, and entrepreneurs. WBENC certification is nationally recognized and accepted by more than 10,000 major corporations. We also support corporations in their efforts to include WBENC Certified WBEs in their supply chain. 

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