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Greetings Fellow Entrepreneurial Women,
It is still winter; that's because it is
Michigan, and yes,
there is still SNOW! But not for long. I
just returned
from a contract at Pratt Whitney in Georgia,
and the
daffodils are blooming there. Spring can't
be far
behind for us too, so let's think forward to a
new awakening for ourselves and for our
businesses.
Thanks to the Board of Directors and Steering
Committee for their committment to WBO for
2009.
We are hard at work to bring you expert
speakers on
relevant topics throughout the year.
Planning has
begun on the Open House in July and discussions
have ensued for the Annual Meeting in
November. I
am pleased Carlyle's Grill has stepped
forward to be
our host this year. Remember them and their
partner
restaurant, Mediterrano, when choosing a
dining out
option.
Consistent with our mission of education,
networking,
referral, and support, we have planned an
outstanding
year of programming to help you improve and grow
your business:
- outstanding speakers
- relevant topics
- usable tools
- networking opportunities
- member referrals
- encouragement and support
This year's educational program is built on the
principal components of a business growth
plan. So
far we have addressed Goal Setting with Turner
Thompson (January) and Feasibility with Pat Salo
(February). As we move into spring, we plan
to spend
4 months focusing on Marketing. We'll kick
off that
series with Debra Power of Power Marketing in
March. A knowledgeable speaker, Debra will
enlighten and challenge us to do our Market
Research
and become intimately familiar with our
industry,
market, customer, and competition. I know
she will
bring current information you can use to make
you
better for your business.
And yes, there was more homework. That's
right -
homework! To compliment the goal setting
exercises
from January, we added some defining
descriptions
on which to build in February. And, yes
there will be
marketing homework over the next few months
too. By
the end of the year, using the tools we will
provide and
faithfully doing the homework, you will have
created a
business plan to grow your business!
More than you want to do? Then just come,
listen to the speakers, learn from the
topics, and enjoy
the camaraderie of the members. This is your
group,
and it is what you make it. I encourage you
to make
the best use of your membership, for you.
Best Regards,
Jan
| In This Issue |
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| My Business Idea: Fabulous! Feasibile? |
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by Pat Salo, Associate Regional Director, Training
Director and Senior Business Consultant with the
Michigan Small Business and Technology
Development Centers, Region 9 at Eastern Michigan
University
Pat Salo from the Michigan Small Business and
Technology Development Centers introduced the
group to all of the terms and tools for planning
financial success and showed us
how important it is to use them to project your
business's potential to be profitable.
Calculators out! Pat showed us how to determine
whether or not new business ideas or changes to the
existing model make financial sense. She reminded
us to include all costs into expense, including an
owner's personal wage and a rent payment, even if
the owner is not currently collecting a salary or if the
business operates out of the home.
"Conquering the numbers will set you free." Pat
said. "Until you conquer numbers, you won't be able
to understand if your business idea or your idea to
add a product or service makes sense." She showed
us the benefit of turning the numbers into percentages
to help see what part of the business is out of line.
Looking at the numbers and percentages on a regular
basis helps to correct problems and make changes to
increase sales. A budget is critical to building a
business. She advised to have a realistic horizon of
time and sufficient working capital to break even
before giving up.
Using a real example, she took the group through an
exercise of selling tote bags, showing us how to
determine the variable and fixed costs of the product,
then determining what sales volume is need to be to
break even at various product price points.
Pat encouraged attendees to take advantage of the
free consultation and research services MSBTDC
offers. MSBTDC focuses on consulting with small
businesses, arming them education
and tools to guide business decisions. Other
important elements of the SBTDC's services include
visioning and market research.
In closing, Pat advises, "Just a cautionary note due to
the economy: loans are more difficult to get and
require about $2 in assets for $1 in loans. The
quicker you can turn cash back to cash the better you
are." She recommended an interactive excel
spreadsheet for cash flow, which is on their website -
www.misbtdc.org.
We thank Pat Salo and encourage WBO members to
seek counsel with the SBTDC counselors who
provide guidance, training, and research in planning
for success and profitability.
Summary respectfully submitted,
Gail Nicklowitz, Secretary
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| Upcoming WBO Events |
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March General Meeting, Tuesday, March
10, 2009
Debra Power, President, Power Marketing
Marketing Your Product or Service: How Do I
Hit a
Moving Target?
Not a marketing expert? Not many entrepreneurs
have a marketing degree, but understanding basic
components of marketing concepts can help you
design a more effective, targeted marketing
plan.
Over the next several months, we will strive
to better
understand the marketing process. We begin in
March with Market Research: The Customer? The
Competition?
April General Meeting, Tuesday,
April 14,
2009
Janet Muhleman, Founder, re:group, inc.
Building Your Brand: How Do I Create the Image I
Want for My Product or Service?
Still not a marketing expert? In April we'll
learn more
about the
importance of market research: understanding our
target market, and identifying our
competition. Then,
we're
ready to build OUR brand using OUR competitive
advantage to create awareness of the value
proposition of OUR product or service. We
continue
to strive to better understand the marketing
process in
April with Branding: Who Am I? What Makes Me
Special? Why Should A Customer Select Me?
May General Meeting, Tuesday, May 12,
2009
Still not a marketing expert? In May we'll
continue our
journey toward a comprehensive marketing plan.
Watch this space for our expert speaker for May.
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| Opportunities |
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Our strategic partnership with NAWBO
allows us
to attend NAWBO events at member prices. Please
check out their upcoming events and satellite
meetings at www.nawbogd.org
Save the date for Thursday, March 19, 2009
Annual
Top 10 Luncheon and Awards
Join us as NAWBO honors Michigan's Top 10 Women
in Business.
Personalize the WBO Website
On the new WBO website, every member can have
a photo and logo on the site. Please send
copies of your picture and/or logo, in a gif
or jpg format, preferably no larger than
200px on a side, to hillaryh@ix.netcom.com.
Hillary is willing to resize these images if
you can't. While you are at it, for our
records, please let us know the year you
started your business and if it is a sole
proprietorship, Partnership, LLC/LLP, C Corp,
or S Corp. Thank you!
The OPPORTUNITIES section of this
newsletter
provides you, the membership, with the chance
to announce opportunities that support you as
a business or benefit our members. See the
Newsletter page for more information and feel
free to send Opportunity information to
info@wbo-mich.org.
SPREAD THE WORD is the opportunity WBO
gives
you describe your business and services to
the WBO mailing list and beyond. Cost: $25
to sponsor the Newsletter.
Michigan Women's Marketplace offers all
women owned businesses the opportunity to have a
free listing. Join today at www.miwomen.com
to have your business represented and please
use the MWM whenever the opportunity arises.
The Michigan Classifieds is a new
website is
yet another opportunity for Internet presence
at no cost
to you. Find them at
www.themichiganclassifieds.com
Women Making Connection event at
Kerrytown,
Wednesday, April 1, 2009, 4:30 - 7:30.
Networking,
food, fun, information about resources.
Pre-register,
charge at the door. See
www.womenmakingconnections.com
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| Spread the Word - Are Women Better Entrepreneurs? |
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Every day, 420 women go out and start their own
businesses--twice the rate at which men do
so. And
these businesses are growing revenue, profits
and
jobs faster than business as a whole.
The explosion in women-owned businesses explains
why women's companies now employ more people
than America's largest 500 companies combined.
Women now own 46% of the private businesses in
the U.S., demonstrating daily just how tough,
innovative and commercial women can be.
Setting up your own company is fraught with
risk--and
women typically fund their ventures with
higher levels
of personal debt. So these women aren't
choosing the
easy option. If anything, they're leaving
their jobs to do
something harder. They're not feeling
exhausted and
bitter either; they've leaving full of the
determination
and energy that every company needs.
Two refrains are repeated over and over when
talking
to female business owners: .
- No one would take me seriously
- I wanted more control over my life.
Both themes are important. Much of the
growth of
women-owned businesses is fueled by ideas
that fell
on deaf corporate ears.
Many companies spring into being when the
women's
employers ignore them. What business today can
afford to lose this level of innovation? We
struggle to
drive higher levels of creativity and develop
intrapreneurs within our companies, but we
might do
better to stop expelling the entrepreneurs
among us.
These innovators may be different, but there
isn't a
company in the world that can afford to waste
their
talent.
The second theme--wanting control of one's
life--is
also crucial. Almost 60% of women say they
have no
flexibility about when they start and end
their days,
according to the Center for Women's Business
Research. Their resistance to this state of
affairs has
nothing to do with not being willing to work
hard. You
don't get results like one company's 400%
growth rate
over three years by slacking off. Women work
very
hard, they just don't necessarily want to
work a rigid
schedule. Most of them have children. And
while they
may work weird hours, they are highly
productive. As
one entrepreneur remarked, "It doesn't really
matter
which 80 hours you work." We now have all the
technology we need to free employees to work
more
flexibly. But instead of using it to retain
and liberate
talent, large companies are using it to send
the talent
screaming out of the door.
The success of women-owned businesses is cause
for rejoicing. It benefits the economy and it
benefits
women. It even benefits men, who are more
likely to
be hired by women than women are by men,
according to the Center for Women's Business
Research. But I'm not sure our large
corporations can
rejoice. As the economy continues to dictate
more
frugal spending, smaller firms with lower
overhead
have a real advantage to bid effectively
against larger
firms.
Every time a woman resigns, it's easy for large
companies to imagine she's going home, baking
cookies and retiring from the field. It's far
more
challenging--and a lot more realistic--to
think she's
leaving to find richer challenges, take on
more risk
and test the full range of her talents. That
makes her
just the kind of person companies should
never want
to lose. As our economy continues through
challenging times, it's sobering to think
that the real
competition for business isn't from other
large firms--
it's the business and ideas incubating inside
women's minds. You go girl!
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| Business Challenge |
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February's homework challenges you to begin to
define your business in more intimate terms.
As you
vision how you wish to be seen. Stephen Covey
says, "Begin with the end in mind." So
should you as
you strive to represent your business now, as
you
envision it to be. Too often women say,
'When I am
successful, my business will look like . . .
. ' The end
is now. Behave as you want to be seen - NOW!
Use
the planning sheets to determine who you wish
to be.
February's homework also challenges you to
assemble information that can contribute toward
success. Who is in your network who can
contribute
to your success. Who do you need to include
in your
network to insure success.
To complete January's homework
- re-visit your vision
- re-work you mission statement
- re-evaluate your business team: attorney?
accountant? insurance specialist? real estate
expert?
marketing advisor? human resource expert?
information technology advisor?
- research your industry: trade associations?
conferences? respected experts? related advocacy
groups? etc.
- re-invent your local network: chambers of
commerce? women's groups? networking groups?
educational institutions? consulting services?
government agencies? economic development
advocates? Internet social network
opportunities,
etc.
This will all make more sense as we move into
the
marketing section, but for now - do the
research. The
better you know your business and your
industry, the
better your chance for success.
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| New WBO Members - Welcome! |
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| 2008 Member-to-Member Discounts |
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American Laser Centers- Members
always recieve an additional 20% off all
services, as well as free treatments for
referals. Contact Jennifer Schaefer by
phone at (734) 971-9800 or by email
jschaefer@alcpartner.com
Cafe Marie of Ann Arbor -
Breakfast/Lunch Cafe; 20% off. Show up with
your membership card to get your discount.
Say hello to Jeanne Loveland when you're
there. Contact Jeanne M. Loveland by phone
at (734) 662-2272 or by email jmloveland@aol.com
Creative Memories Bonus Host
Gift with a scheduled Home Event Contact
Nan Carter by phone at (734) 930-6516 or by
email nanpotmedic@comcast.net
DOLEV LLC - Food Coach- is
offering the following discounts: 25%
discount on a complete series of 10 private
coaching sessions, 15% discount on a short
term series of 4 private coaching sessions,
10% discount on a one time session of private
counseling, 10% discount on workshops or
seminars in workplaces Contact Yael Dolev
by phone at (734) 276-1317 or by email
yael@dolevfoodcoach.com
Davies House in Georgetown Bed and
Breakfast 15% off room rates. Do you
have friends and family coming to town to
visit or for family celebrations? No space at
your place? Send them to mine! Contact Jan
Davies McDermott, owner and innkeeper at 734
973 1722 or via email: daviesbb@yahoo.com.
Contact Jan Davies McDermott by phone at
(734) 973-1722 or by email
presidentwbo_mich@yahoo.com
Denise Held, RN, Certified
Reflexologist- I offer a 20% discount for
an hour session. Usual price is $45; with the
discount, it is $36 Contact Denise Held by
phone at (734) 973-8290 or by email
deniseheld@aol.com
Design329- non-profit rates
Contact Beth Ann Knisely by phone at (248)
449-7293 or by email ba@design329.com
Dynamic Edge Consulting LLC-
$10.00 off QuickBooks/Peachtree Red Phone
Help Desk Subscription Plan. Call or email
for more details! Contact Lucy Rogers by
phone at (734) 975-0460 or by email
lrogers@dynedge.com
Healing In Motion, PLLC- JB
Myofacial Release; 25% off. Contact Sandra
Hilton by phone at (734) 913-4816 or by email
sandyhilton@gmail.com
Helping Hand Computer
Solutions - 10% off services for WBO
members Contact Patricia Na by phone at
(734) 995-6875 or by email pna@helpinghandcs.com
I Sold It- Ann Arbor- 5% off
on the first $500. Contact Carol Kamm by
phone at (734) 761-6187 or by email
isolditaa@gmail.com
Inforum- $125 professional
(regular) level memberships are available to
all WBO members. Contact Leslie Herrick by
phone at 313.578.3244 or by email
lherrick@inforummichigan.org
Instant Imprints - 10%
discount. Contact Cheri Dunn by phone at
(734) 929-0577 or by email
instantimprints@tds.net
J and T Ultimate Cleaning Inc-
Offering 10% and more off to WBO members
Contact Jaime Villarreal by phone at (517)
651-5891 or by email jaimesempire@aol.com
Jobs 4 Moms- 5% off the cost
of any start up that you begin through my
company Contact Trully Luke by phone at
734-328-6037 or by email jobz4moms@gmail.com
J'spaa- 10% discount on all
services. Contact Jacqueline Jackson by
phone at (734) 827-9775 or by email jspaa@att.net
Juice Plus - One free canister
of Complete Shake with order of capsules or
gummies. Contact Sara Brintnall by phone at
(734) 369-8893 or by email
sarabrintnall@hotmail.com
Keller Williams Realty, Parsons
Properties- Donation to non-profit of
your choice based on closed sales commission.
Contact Lu Parsons by phone at (734)
821-0769 or by email luparsons@gmail.com
Kimberly Watt, LLC- 25% to any
member who refers me for keynote speaker or
workshop facilitor Contact Kim Watt by
phone at (734) 341-5007 or by email
kim@kimberlywatt.com
Language Link- 10% off all
language and test preparation classes
Contact Caroline Wojan by phone at (734)
821-0311 or by email lasses@languagelink.us,
Mary Kay Inc- 10% off Mary Kay
products Contact Ginger Winter by phone at
(734) 429-2433 or by email
gingerwinter@comcast.net
MassMutual- Saving of $10.00
for your 2008 Income Tax Service Refer a
friend and save an additional $10.00.
Contact Marlene Lemire by phone at
(248)324-9333 or by email mlemire@finsvcs.com
Merle Norman Cosmetics- 10%
discount on regular priced products at Nan's
Merle Norman. Plus a complementary paraffin
treatment with a manicure or pedicure ($10
value). Contact Nan Carter by phone at
(734) 930-6516 or by email
nanphotomedic@comcast.net
Nourish Your Life- 10% off on
all life coaching Contact Janet Simpson by
phone at (810) 231-1743 or by email
janet@nourishyourlife.com
NuSkin/Pharmanex- I will sell
my products to members at wholesale Contact
Joyce Ranney by phone at 734-878-9991 or by
email joyce.ranney@yahoo.com
Personalized Gift Baskets- 10%
off on all orders. Contact Becky Grasshoff
by phone at 7342224697 or by email
sales@personalizedwrappers.com
Rubenfeld Synergy: Mind-Body
Healing- Complimentary Introductory
Session. Contact Peggy Bennett by phone at
(734) 994-3719 or by email pegben@umich.edu
Serpro of Canton/Servpro of
Washtenaw- 10% off non-emergency related
carpet cleaning services. Please mention WBO
when contacting the office. Contact Laura
Spensley by phone at 800.714.5341 or by email
lspensley@jwsservices.net
Shaklee- Free Customer
Membership, or membership pricing on all
products Contact Theresia Radtke by phone
at (734) 646-0793 or by email
TheresiaAnne@yahoo.com
TLCI Website Solutions-
Design, Applications, Support, and
Consulting- Website Design, Development,
Consulting, SEO, Marketing and Promotion; 10%
off. Contact Hillary Handwerger by phone at
(734) 668-6585 or by email hhandwerger@yahoo.com
TouchPoint Promotions- 10%
Discount on product offers Contact Dale
Long by phone at 734.769.8268 or by email
daslong@comcast.net
Town and Country Errands- Town
and Country is offering a 10% discount on all
their services to WBO members. Contact Lynn
Liston by phone at (734) 761-8431 or by email
lynn@townandcountry-errands.com
TwoFoot Creative LLC- 15% off
wedding event planning services Contact Ana
G. Skidmore by phone at (734) 709-6656 or by
email ana@twofootcreative.com
AFFILIATE OF
NAWBO
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WBO meets on the second
Tuesday of the month, starting in January at
Carlyle Grill, 3600 Jackson Road., Ann Arbor.
Please
join
us! Meeting time is
6-8pm and light refreshments are provided.
Find out more....
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