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September 10, 2012
Risk-Free Ownership
In today’s economy, a growing number of women are testing the business ownership waters before diving in.
Not a bad idea.
After all, 50 percent of small businesses fail within their first five years, says a Small Business Administration (SBA) survey.
Small Business Management author, Michael Ames, cites “lack of experience” as the No. 1 reason these businesses go under.
That’s why Kara Pesavento decided to try out “ownership” while keeping her current, fulltime gig as a TV producer at CBS Atlanta.
"I wanted to challenge myself both personally and professionally and this was a great way to do that without assuming too much risk,” says Pesavento.
As an independent sales rep for Thirty-One, a direct sales company that makes personalized bags and gifts, Pesavento manages her sales, budgets, client relationships and outreach.
It was the perfect way to find out if she had the drive to succeed. Pesavento says she has honed her time management and networking skills, while setting realistic goals.
“But the biggest gain for me has been self-confidence.”
She’s also experiencing the highs and lows of being the boss. “You have to set aside time for your business, even when you're tired or have other things you'd rather be doing,” she adds. “But of course, the extra money never hurts.”
Ladies looking to gain business experience can turn to resources like women’s business groups that provide education and networking opportunities. The National Association of Women Business Owners has local chapters and regional summits for women entrepreneurs.
Also, SBA’s Office of Women’s Business Ownership offers business training and counseling to help women on the path to owning successful businesses.
Bonus PINK Link: Take our quiz to find out if you’re ready for entrepreneurship.
What’s your advice for the inexperienced entrepreneur?
Have more questions? Ask our expert.
By Carmen Harbour
“It is far better to be exhausted from success than to be rested from failure.”
Mary Kay Ash
*Supporting images from FreeDigitalPhotos.net, imagerymajestic, mrpuen, and David Castillo
 
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Comments
Women Entrepreneur
1. Plan your adventure, work your plan and trust your gut all the way.
2. When the roof leaks or bus takes a sour dive, take a break, a deep breathe and quickly regroup, but then go back and get it fixed, pronto! Create a to-do list and delegate out some of the tasks.
3. Have a support team of qualified experts to consult and ask for wisdom. Bounce off new adventures off them, but remember you are the expert in your field. Do your market research yourself, if you can. This gives you insight into the products, needs of the customers and what to change/adapt in the future.
4. Do your home work. Know how all the positions of every team member, and motivate and appreciate each as needed. Let them know their importance, and if they slack some, the whole team suffers. Be the example they would like to see.
5. Creative excellence brings success. Yes you have to take risks, and some of the choices may not have been the right ones, but they were learning adventures and create a foundation for future successes. If you are not trying and moving forward, then you are falling behind. Cut your loses quickly.
6. Adapt and learn the new technologies. Live in the new world of your customers. However, never forget that people like a personal touch.
7. Enjoy the adventure and the scenery. Know how to give yourself a healthy break each day and care for yourself weekly.
8. Smile and be positive. Worry behind closed doors.
By SS, 9-2012
Risk-Free Ownership
The statistics you provided are very true and yet we women are the ones that are going to be leading the businesses forward in the years to come. So what I know for sure is how important it is to get support for starting, growing and maintaining your business. The Count Me In program is a great way to grow your business. They offer Make mine a million http://www.makemineamillion.org/ - support for women in growing your business. They work with a great coaching company call People Biz, Inc. http://www.peoplebizinc.com/. Great business resources, coaching and training to avoid pitfalls and build a strong foundation.
The key is we as women have to ask for help and support each other - this alone will help our economy shift.
Katie B. Smith
www.katiebsmith.com