for women starting a business!
TOP 10
Women Business Owners Today Copyright 2013
TIPS
www.WomenBusinessOwnersToday.com
for women starting a business
1. Write a business plan
2. Line up your ducks
3. Own Something
4. Meet the players in your pond (Networking)
5. Align with the right players (Alliances)
6. Take stock of “The ideal”
7. Understand “The realities”
8. Take care of yourself
9. Take time for yourself
10. Have fun
TOP 10 TIPS
Failing to plan is planning to fail.
1. Write a business plan
There are plenty of resources to help you out:• Look into government funded organizations
like, Women’s Enterprise Centre’s (WEC) or Business Service Centre’s
• For younger entrepreneurs, look into programs for youth like the, Canadian Youth Business Foundation (CYBF)
• Check out the business resources available through most national banks
• Thousands of online, private sector resources
Why write a biz plan?
1. Helps you develop a clear picture of your business2. Makes you more money by providing the
implementation plan to make it happen3. Helps you to attract investors and/or to acquire
financing 4. Saves you time because the research is done5. Keeps you on track and make it easier to be
successful
5. Gives you a chance to make mistakes on paper6. Creates a foundation for your company’s growth7. Helps to reduce risks and maximize profits8. Helps you to learn more about your competitors9. Helps you to make important decisions easily and
professionally
Why write a biz plan?
for women starting a business
1. Write a business plan
2. Line up your ducks
3. Own Something
4. Meet the players in your pond (Networking)
5. Align with the right players (Alliances)
6. Take stock of “The ideal”
7. Understand “The realities”
8. Take care of yourself
9. Take time for yourself
10. Have fun
TOP 10 TIPS
2. Line up your ducks
1. Secure financinga) Low interest loans through government organizations and banksb) Grants c) Angel Investors d) Crowdfunding
2. Get insurancea) Liability, Errors & Omissions, Theft, Breakage, Spoilage, etc.
2. Line up your ducks
3. Consider your legal requirementsa) Incorporation, Partnership, etc.b) Sales Contracts / Agreementsc) Licenses, permits, etc.
4. Set-up Officea) In home or external?b) Phones (cell, landline, VOIP, answering service)c) Books, payroll, technology, forms, b-cards, invoices, letters, etc.d) Hire staff, processes, etc.
for women starting a business
1. Write a business plan
2. Line up your ducks
3. Own Something
4. Meet the players in your pond (Networking)
5. Align with the right players (Alliances)
6. Take stock of “The ideal”
7. Understand “The realities”
8. Take care of yourself
9. Take time for yourself
10. Have fun
TOP 10 TIPS
Being remarkable or different gets our attention!Seth Godin – The Purple Cow
Which cow get’s your attention?
• What will you OWN?
• What will make YOU remarkable?
• Why will someone choose YOU and not your competition?
• What will make your customers come back year after year?
for women starting a business
1. Write a business plan
2. Line up your ducks
3. Own Something
4. Meet the players in your pond (Networking)
5. Align with the right players (Alliances)
6. Take stock of “The ideal”
7. Understand “The realities”
8. Take care of yourself
9. Take time for yourself
10. Have fun
TOP 10 TIPS
Play
ers
in y
our p
ond
Just like the Ecosystem of a Pond with plants, small organisms, fish, etc., so too is there a Business Ecosystem.
Play
ers
in y
our p
ond
1. There is your core business with:• Direct Suppliers• Core Products/Services• Direct Customers• Distribution Channels
Play
ers
in y
our p
ond
2. Then there is your Extended Enterprise with:• Suppliers of your suppliers• Standards bodies• Suppliers of complimentary products & services• Customers of your customers
Play
ers
in y
our p
ond
3. Then there is your Business Ecosystem with:• The economy and market• Investors and financial institutions• Government agencies & other bodies• Competitors• Natural Resources• Natural Disasters, etc
for women starting a business
1. Write a business plan
2. Line up your ducks
3. Own Something
4. Meet the players in your pond (Networking)
5. Align with the right players (Alliances)
6. Take stock of “The ideal”
7. Understand “The realities”
8. Take care of yourself
9. Take time for yourself
10. Have fun
TOP 10 TIPS
Align with the right players
Get to know the people that know people in your supplier or services network. They will help you make the right choices the first time.
Align with the right players
Align with your professional network of lawyers, bankers and accounting folks for advice and future requirements
Align with the right players
Network with influencers in your client network so they can be your champions with your prospective clients.
Align with the right players
Meet industry employers and work closely with your employees who know the ropes and can move you up the learning curve quickly.
Align with the right players
Venture beyond your geographic borders and get to know what’s trending in other parts of the country or world.
for women starting a business
1. Write a business plan
2. Line up your ducks
3. Own Something
4. Meet the players in your pond (Networking)
5. Align with the right players (Alliances)
6. Take stock of “The ideal”
7. Understand “The realities”
8. Take care of yourself
9. Take time for yourself
10. Have fun
TOP 10 TIPS
The Ideal . . .
Perfect and dreamy
Happy clients all day every day
Sitting in a treesmiling with your
laptop? Really?
The reality . . .
Can’t get the booksto balance Messed up on a big
important meeting
Computer crash!
The Ideal . . .
Happy smiling, quiet baby all the time
A 2 year old that sits calmly on your
lap while you work
Making dinner in your suit, making a business call, and visiting with your 5-year old who is sitting by a hot stove
The reality . . .
A 3 year old who loves to get into your papers
Squeezing in a few guilty hours of work while your child plays under the desk
Forgetting stuff cause you’re
just too darned busy!
Usually starting and running a business is somewhere in between.
• Some freedom • Some flexibility• Some headaches• Some profits• Some risk• Some guilt• Some joy
Build yourself a large support network of friends, family and work associates that can help you out with home and family duties as well as work activities.
OR
Hire a nanny, a housekeeper and an assistant!
OR
Get yourself a wife! (Kevin O’Leary)
for women starting a business
1. Write a business plan
2. Line up your ducks
3. Own Something
4. Meet the players in your pond (Networking)
5. Align with the right players (Alliances)
6. Take stock of “The ideal”
7. Understand “The realities”
8. Take care of yourself
9. Take time for yourself
10. Have fun
TOP 10 TIPS
Take care of yourself
Eat rightExerciseRegular doctor & dental visits
for women starting a business
1. Write a business plan
2. Line up your ducks
3. Own Something
4. Meet the players in your pond (Networking)
5. Align with the right players (Alliances)
6. Take stock of “The ideal”
7. Understand “The realities”
8. Take care of yourself
9. Take time for yourself
10. Have fun
TOP 10 TIPS
Take time for yourself
for women starting a business
1. Write a business plan
2. Line up your ducks
3. Own Something
4. Meet the players in your pond (Networking)
5. Align with the right players (Alliances)
6. Take stock of “The ideal”
7. Understand “The realities”
8. Take care of yourself
9. Take time for yourself
10. Have fun
TOP 10 TIPS
10. Have Fun!
• It starts to feel like a job you HAVE to get up for every morning• You feel irritable and angry about your business • You start losing your joy and enthusiasm for what you’re doing
It’s time to stop and rethink your business when . . .
10. Have Fun!
Entrepreneurship is a journey. It takes hard work, perseverance and some long hours, but the joy of creating a sustainable business is priceless!
TOP 10
Women Business Owners Today Copyright 2013
TIPS
www.WomenBusinessOwnersToday.com
for women starting a business!
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