News from Women Business Owners of Southeastern Michigan



Success Through Networking		OnLine Newsletter October 2007

President's Message

Time. How do you feel about that word? What would you do if you had enough of it? How would you be living?

These questions always call us to our higher ground or our deepest desires. It's a place in our mind's eye, where we see ourselves functioning at our best. Each one of us can see ourselves there, in that perfect state, in that balanced life, that includes all the things we are working hard for all the things that bring meaning and purpose to our lives. We know all to well, as women business owners, that TIME is a precious resource. We learn how to manage it, spend it, take it- just as we learn all the other valuable lessons that go along with owning businesses.

Taking part in an organization like WBO is time well spent. WBO provides an environment that encourages us to take time to refuel, generate ideas, gain support, and gather resources. Just as with anything else, we have to invest in order to get the return. There is no way around this basic premise in life. By designating a small amount of time to taking part in WBO or researching the WBO resources, we gain valuable insights as to how to be more balanced and efficient business owners.
Ideas:
1. Take 3 more minutes to read the rest of this newsletter.
2. Register for the WBO Annual Dinner, Expo, & awards ceremony on November 13th.
3. Visit the WBO website at www.wbo-mich.org. Look at the women business owner's in the directory. Is there anyone listed who provides services or expertise that would help you accomplish your goals?
4. Contact a WBO member for networking outside of the monthly meetings.

"Minutes are worth more than money. Spend them wisely" - Thomas P. Murphy

in this issue

	Meeting Update- Women's Business Resources - Yodit Mesfin Johnson Upcoming WBO Events Opportunities Spread the Word - Angela Riehn, Edward Jones Investments Business Challenge New Members- Please welcome 2007 Member Discounts

Meeting Update- Women's Business Resources - Yodit Mesfin Johnson

Yodit Mesfin Johnson spoke last meeting on Women Business Resources. She brought energy and laughter to the dry subject of how to find the help you need in this changing marketplace. Yodit showed us that our own attitude and energy are important in all levels of communication. Taking the time to express your excitement and zeal for your plans and dreams is necessary for achieving those plans. And making it all more fun along the way.

Yodit pointed out that most of the large corporations around today were "born in the depression". She advised us to look for help in whatever area we are in need:

Business Planning?
Marketing?
Advertising?

There are agencies and groups like CEED and NAWBO that can help fit the business owner with the resources to fill thier need.

Some questions raised were:
How do you attract the right employee?

Put the word out! Yodit recommended looking up the September shows on hiring under "Metro Chic Radio" found at metrochicradio.com. Also add it your opening to your outgoing emails to spread the word of your position to your select group. How do you 'keep up'?

Get your personal house in order! Find the balance between work and life by perhaps delegating some of the jobs to others. Outsourcing works for a personal level also - find help with the house, the kids, the meals, or jobs at the office that will free up time for your self. Be sure to take time to stay healthy or "you will fall apart". How do you know "IT" will continue?

"Stop stopping IT" Avoid and/or eliminate self limiting beliefs! Live with intention and purpose to meet your dreams!

Good websites for business assistance and references:

womensbusinessresource.com
Marigond.com
sba.gov
bplans.com
wbenc.org

Reported by Sandra Hilton, Healing In Motion

For more information on MI CEED

Upcoming WBO Events

WBO Annual Dinner and Expo, Nov 13, 2007
Time: 5:30-9:00
Lake Forest Golf Club
Dinner catered by Simply Scrumptious
Women Business Owner's Expo prior to dinner and speaker

The Keynote Speaker will be Sabrina Adams of Zoe Life Publishing speaking on "The Enemy Called Average".
The full board (elected officers and coordinators) will be announced at the dinner.

No meeting in December

Monthly Meeting, Tuesday, January 8, 2008
Speaker, Joyce Anderson, Author of "Help, I'm Knee Deep in Clutter"
Time: 6:00-8:00
Sponsor, Carolyn Anderson-Fermann, Simply Organized Life

For more Meeting information

Opportunities

ANNUAL DINNER AND EXPO OPPORTUNITIES:

WBO is looking for Sponsorships and Door Prizes for its Annual Meeting. Sponsorships are in the $1000, $500, $250, and $100 categories. More information on the WBO website. Contact Angela Riehn (angela.riehn@edwardjones.com) to provide Sponsorships or Door Prizes.

Vendor Booths are at a premium for the Annual Meeting. A 4'x4' booth gives you the chance to educate and market to the members and guests at the WBO Annual Meeting. There is a limited availability for vendor spaces. Deadline for signup is November 8, 2007, but don't wait. Register online.

MORE OPPORTUNITIES
__________________________________________

Carolyn Anderson-Fermann, Simply Organized Life, will be conducting a seminar entitled "Drowning in Paper?" on household paper management, October 25 from 6:30 - 8:30 at the A2 Rec & Ed Center. For more information, contact Carolyn via e-mail (info@simplyorganizedlife.com).

Your Wedding Team is putting on two Wedding Shows called "Your Wedding Team & Friends"-- November 11 at the 4 Points Sheraton and January 13 at Travis Point. Please spread the word about these shows to any perspective couples you know. Also, we are looking for other vendors that have services that can be of benefit to the Bride and Groom. Tables are $100 for each show, $150 for both. Contact Mary Stevens at life_cycles@comcast.net for more information.

Carolyn Anderson-Fermann, Simply Organized Life, will be conducting a second seminar entitled "Simply Organize Your Life", November 15 from 6:30 - 8:30 at the A2 Rec & Ed Center. This class will help you identify whether you are an "innie" or "outie" when it comes to organizing. You will learn how to get and stay organized at home and at work no matter what "type" you are. You can make your space a more balanced and peaceful environment and sustain it that way. For more information, contact Carolyn via e-mail (info@simplyorganizedlife.com).

Spread the Word - Angela Riehn, Edward Jones Investments

Strike a Balance Between Saving for Retirement, College
If you have young children, you may want them to attend college someday - and you may want to help them pay for it. At the same time, you also need to save for a comfortable retirement lifestyle. Are the two goals compatible?

There's no easy answer to this question. But one thing seems clear: For many parents, saving and investing for their children's future is every bit as important - and maybe more so - than saving and investing for their own. In fact, two-thirds of parents said they would postpone retirement if necessary to help pay for their children's college education, according to a survey by Alliance Bernstein Investments, Inc.

Parents have good reason to believe that investing in a college education will pay off for their children: Over the course of their lifetimes, college graduates will earn, on average, about $1 million more than high school graduates, according to the U.S. Census Bureau.

So, since a college education appears to be quite valuable, shouldn't you do everything you can to help pay for it?

Ultimately, you'll have to weigh your potential college contributions against your need to save for your own retirement. On one hand, you'd like to help your children as much as possible; as a parent, you don't want your children saddled with enormous debts when they leave college. But on the other hand, that type of reluctance may be based more on emotion than on sound financial planning. After all, college graduates seem to find a way to eventually pay off their loans. Furthermore, your children may be able to find grants, scholarships and work-study opportunities. Many students can earn a decent amount of money at summer jobs, too.

Nonetheless, you still may feel obligated to pay something toward your children's college education. But if you're going to help pay for college, be smart about it. For example, think twice before borrowing from your 401(k). Such a move would slow the growth potential of your retirement funds - and it could prove costly in other ways, too. For one thing, if you leave your job, voluntarily or involuntarily, you'll need to repay your 401(k) loan completely, usually within 60 days. If you can't, the balance will be considered a taxable distribution - and you may even have to pay a 10 percent penalty on it.

Instead of tapping into your 401(k), IRA or other accounts you've designated for retirement, look for other ways to help build your children's college funds. You might decide to open a Section 529 plan, which offers tax-free earnings potential, provided the money is used to pay for higher education costs. Contributions are tax-deductible in certain states for residents who participate in their own state's plan; however, a Section 529 plan could reduce your child's ability to qualify for financial aid.

You might also want to consider a Coverdell Education Savings Account, which offers another tax-advantaged way to save for college.

As you already know, much of your life involves balancing acts of one type or another, so you should be able to handle one more - college for your kids against a comfortable retirement for you. By making the right moves, though, you may be able to reach an "equilibrium" that works for everyone.