Tag: women business owners

Categories
Networking

Attending Events: A Crucial Element in Growing a Small Business

Article Contributed by Michele DeKinder-Smith

Women business owners are constantly bombarded with opportunities to attend events. Whether the events focus on networking, business building or creating a desirable work-life balance, these events are constantly touted as life-changing, knowledge-building and business-growing. Female entrepreneurs may wonder why there are so many events out there – and whether they’re effective.

Savvy business owners, coaches, consultants and educators create events to help others find success – and by choosing to attend an event that fits her specific needs and desires, and by then putting her new knowledge to use once she returns home, an entrepreneur greatly increases the likelihood of getting a good return on her investment. .

Here are some points to consider when deciding whether to attend an event – and if so, which one:

Knowledge is Profit: Research shows that when a female entrepreneur invests in her business by investing in her own knowledge, she sees a huge payoff. New knowledge can be the key that jumpstarts profitability in any business because it increases an entrepreneur’s effectiveness in the area of focus. If it’s knowledge an entrepreneur is after, then she should select an event based on how well it will cover the areas where she feels she needs more information, such as marketing or business plan development. Because live events often do require a substantial investment, a business owner should read through the material carefully to ensure that she will learn exactly what she needs to know during the event.

Recharging is Vital: Every hard-working female entrepreneur runs the risk of falling into the day-to-day rut of running a business – especially when things are going less smoothly than she would like. In cases like this, attending an event can revitalize a business owner. Simply getting into a new environment, being around new people – and getting away from the confines of her office – may provide her with a much-needed break from the daily grind. When she attends an event designed to meet her needs, the business owner then has the opportunity to gain new knowledge while recharging. No one operates well when they’re exhausted and drained. To operate at the high levels of performance most female entrepreneurs demand of themselves, they must take time out to refuel – and sometimes that’s as easy as getting a change of scenery among a group of like-minded professionals.

Networking is Crucial: Sharing experiences with other women in her shoes can greatly improve a woman business owner’s experience, outlook and attitude, as she works to grow her business. Attending an event with other women of similar mindset can provide a stimulating environment in which to share ideas, success stories and even hardships. Also, it can provide an opportunity for women to find partnership or affiliate opportunities that can stimulate growth. Finally, every woman business owner needs a support system; attending events is an excellent way to build such systems.

For female entrepreneurs, knowledge, recharging and networking are vital components when seeking business growth and personal improvement. Attending an event – one that is designed to meet her specific needs in a certain area – is a fun, easy and educational way to get all three!

About the Author:

Michele DeKinder-Smith is the founder of Jane out of the Box, an online resource dedicated to the women entrepreneur community. Discover more incredibly useful information for running a small business by taking the FREE Jane Types Assessment at Jane out of the Box. Offering networking and marketing opportunities, key resources and mentorship from successful women in business, Jane Out of the Box is online at www.janeoutofthebox.com

Categories
Networking

Attending Events: A Crucial Element in Growing a Small Business

Article contributed by Michele DeKinder-Smith

Women business owners are constantly bombarded with opportunities to attend events. Whether the events focus on networking, business building or creating a desirable work-life balance, these events are constantly touted as life-changing, knowledge-building and business-growing. Female entrepreneurs may wonder why there are so many events out
there – and whether they’re effective.

Savvy business owners, coaches, consultants and educators create events to help others find success – and by choosing to attend an event that fits her specific needs and desires, and by then putting her new knowledge to use once she returns home, an entrepreneur greatly increases the likelihood of getting a good return on her investment.

Here are some points to consider when deciding whether to attend an event – and if so, which one:

Knowledge is Profit

Research shows that when a female entrepreneur invests in her business by investing in her own knowledge, she sees a huge payoff. New knowledge can be the key that jumpstarts profitability in any business because it increases an entrepreneur’s effectiveness in the area of focus. If it’s knowledge an entrepreneur is after, then she should select an event based on how well it will cover the areas where she feels she needs more information, such as marketing or business plan development. Because live events often do require a substantial investment, a business owner should
read through the material carefully to ensure that she will learn exactly what she needs to know during the event.

Recharging is Vital

Every hard-working female entrepreneur runs the risk of falling into the day-to-day rut of running a business – especially when things are going less smoothly than she would like. In cases like this, attending an event can revitalize a business owner. Simply getting into a new environment, being around new people – and getting away from the confines of her office – may provide her with a much-needed break from the daily grind. When she attends an event designed to meet her needs, the business owner then has the opportunity to gain new knowledge while recharging. No one operates well when they’re exhausted and drained. To operate at the high levels of performance most female entrepreneurs demand of themselves, they must take time out to refuel – and sometimes that’s as easy as getting a change of scenery among a group of like-minded professionals.

Networking is Crucial

Sharing experiences with other women in her shoes can greatly improve a woman business owner’s experience, outlook and attitude, as she works to grow her business. Attending an event with other women of similar mindset can provide a stimulating environment in which to share ideas, success stories and even hardships. Also, it can provide an opportunity for women to find partnership or affiliate opportunities that can stimulate growth. Finally, every woman business owner needs a support system; attending events is an excellent way to build such systems.

For female entrepreneurs, knowledge, recharging and networking are vital components then seeking business growth and personal improvement. Attending an event – one that is designed to meet her specific needs in a certain area – is a fun, easy and educational way to get all three!

About the Author
Michele DeKinder-Smith is the founder of Jane out of the Box, an online resource dedicated to the women entrepreneur community. Discover more incredibly useful information for running a small business by taking the FREE Jane Types Assessment at Jane out of the Box. Offering networking and marketing opportunities, key resources and mentorship from successful women in business, Jane Out of the Box is online at www.janeoutofthebox.com

Categories
Entrepreneurs

Two Types of Entrepreneurs Plan for Vacation

No matter how much a female entrepreneur loves her business, taking time away from it is essential to finding a balance that provides security for the company as well as her personal satisfaction. Because each business owner has an individual style for running her business, she must make individual considerations when it comes to vacationing.

A recent study from Jane Out of the Box, an authority on female entrepreneurs, reveals there are five distinct types of women in business. Based on professional market research of more than 2,500 women in business, this study shows that each type of business owner has a unique approach to running a business and therefore each one has a unique combination of needs. This article outlines two of the five types and provides tips for planning for much-needed rest and relaxation.

Merry Jane. This entrepreneur is building a part-time or “flexible time” business that gives her a creative outlet (whether she’s an ad agency consultant or she makes beautiful artwork) that she can manage within specific constraints around her schedule. She may work a day-job, or need to be fully present for family or other pursuits. Representing about 19% of women in business, she realizes she could make more money by working longer hours, but she’s happy with the tradeoff she has made because her business gives her tremendous freedom.

The multi-faceted Merry Jane is adept at juggling several different aspects of life at once –  including her business, her other priorities, and taking care of herself. She appreciates the flexibility to work when, where and as much as she wants. The desire to maintain that flexibility means Merry Jane is very systems-oriented, and she doesn’t put an exorbitant amount of time into her business on an ongoing basis. Plus, Merry Jane-owned businesses are often not the primary source of income in the household. Therefore, if Merry Jane’s other obligations allow her to do so, vacationing does not pose a problem.

One challenge Merry Jane faces is that she would like her business to make more money without a significant investment of time. She already excels at managing her time, so if she increased her income, she would have better means for using her free time to vacation.

Here are some ideas for Merry Jane to consider for gaining more clients and profiting, while retaining her time freedom – and vacationing potential:

* Identify the target and a clear message. Merry Jane should define an “ideal” customer, and define his or her needs. Then she can market the product or service to that customer as fulfillment of his or her needs. This will save Merry Jane time and money on unnecessary or misdirected marketing efforts, and will land her more of the “right” customers. She can then use the time and money she saves – and the new profit she makes – toward a well-deserved vacation.
* Select an appropriate marketing method. Most Merry Jane business owners need a slow-growth marketing method that builds relationships over time, and that doesn’t require a huge monetary or time investment. Examples include social networking, affiliate marketing and referral marketing. These marketing methods can work for Merry Jane even while she is on vacation, so she won’t need to worry about maintaining them while she is relaxing.
* Make it easy for new customers to buy the first time. Merry Jane might offer incentives for first-time buyers, such as coupons or discounts. They can make it easy for customers to keep buying by offering incentives such as auto-billing or earning a free product or service after a specific amount of time. Again, these profit-boosting ideas do not require much work on Merry Jane’s part, and can continue making money for her even while she takes time away from the company.

Accidental Jane is a successful, confident business owner who never actually set out to start a business. Instead, she may have decided to start a business due to frustration with her job or a layoff and then she decided to use her business and personal contacts to strike out on her own. Or, she may have started making something that served her own unmet needs and found other customers with the same need, giving birth to a business. Although Accidental Jane may sometimes struggle with prioritizing what she needs to do next in her business, she enjoys what she does and is making good money. About 18% of all women business owners fit the Accidental Jane profile.

Most Accidental Jane business owners report a high level of satisfaction with their businesses. They often started their companies to create their ideal jobs – to gain control over critical aspects of their working lives. They want enough, but not too much, work, and enough income to meet their needs – and they often have it. Because Accidental Jane business owners like making and living by their own rules, they often have no trouble taking vacation. One consideration, though: because they dislike corporate politics and often don’t want to be responsible for traditional employees, vacationing requires more planning (since they may not have employees to handle their businesses while they’re gone).

If Accidental Jane can gain control of the typical ebb and flow cycle that plagues many of the entrepreneurs in this group, she can more easily execute the necessary planning for her vacations. Low-maintenance marketing (such as an ongoing newsletter, pre-written tweets to go out periodically on Twitter, or pre-written weekly blog posts), can help Accidental Jane to market even when she’s working, so that when she finishes one project, she has another waiting. With a consistent flow of clients and projects coming through her door, Accidental Jane can plan for a slow week or two during which to take a vacation – and she can relax while she’s there, knowing that work is waiting when she returns.

Taking time off is just as crucial to running a successful business as making calls, sending invoices and closing sales. It provides business owners with the relaxation, rejuvenation and refreshment they need to get back to work energized and powered up, in their best form.

About the Author:

Michele DeKinder-Smith is the founder of Jane out of the Box, an online resource dedicated to the women entrepreneur community. Discover more incredibly useful information for running a small business by taking the FREE Jane Types Assessment at Jane out of the Box. Offering networking and marketing opportunities, key resources and mentorship from successful women in business, Jane Out of the Box is online at www.janeoutofthebox.com.

Categories
Planning & Management

Two Entrepreneurs Track Performance for Future Success

To know where a business is going, an entrepreneur must know where it’s been. In setting and achieving effective goals for her company, then, a business owner should study its past performance and the performance of its many systems.

A recent study from Jane Out of the Box, an authority on female entrepreneurs, reveals there are five distinct types of women in business. Based on professional market research of more than 2,500 women in business, this study shows that each type of business owner has a unique approach to running a business – and therefore each one has a unique combination of needs. This article outlines two of the five types and provides tips for tracking a business’ systems and using information gleaned during that research to provide a strong future.

Tenacity Jane is an entrepreneur with an undeniable passion for her business, and one who tends to be struggling with cash flow. As a result, she’s working longer hours, and making less money than she’d like to be. Nevertheless, Tenacity Jane is bound and determined to make her business a success. At 31% of women in business, Tenacity Janes are the largest group of female entrepreneurs.

For this business owner, measuring performance is absolutely imperative because doing so will allow her the opportunity to see which systems are working and which aren’t, and therefore, to better leverage her limited resources.

By talking candidly with customers, Tenacity Jane can learn a lot about which aspects of her company bring in money, and which do not. Many Tenacity Jane business owners lack a singular focus, and therefore, they are working on a variety of things at once. It’s likely that a Tenacity Jane may try advertising in several venues at the same time, believing that if she advertises in many places, she has a better chance of catching a customer’s attention. However, she may be better served by her marketing efforts if she performs some research to determine where customers are really finding out about her. For example, let’s say she’s spending several hundred dollars per month advertising in the newspaper and on the radio. In talking to customers, she learns that most of them don’t read the newspaper, but they heard her ad on the radio. She could save money by skipping the newspaper advertising, or make her spending more effective by pumping it only into radio advertising.

Accidental Jane is a successful, confident business owner who never actually set out to start a business. Instead, she may have decided to start a business due to frustration with her job or a layoff and then she decided to use her business and personal contacts to strike out on her own. Or, she may have started making something that served her own unmet needs and found other customers with the same need, thus giving birth to a business. Although Accidental Jane may sometimes struggle with prioritizing what she needs to do next in her business, she enjoys what she does and is making good money. About 18% of all women business owners fit the Accidental Jane profile.

Many of the Accidental Jane entrepreneurs we interviewed expressed a high level of contentment. They are happy with the amount of money they make, and they are often working the way they want, with whom they want, at the times they want, without feeling overloaded. Some, though, reported feeling stressed as their business ebbs and flows, depending on their marketing efforts. For Accidental Jane, measuring performance metrics can provide two basic improvements to her lifestyle: it can maintain consistency in Accidental Jane’s workload, and it can help her to increase her profit without much additional effort.

Because she is a consummate professional, Accidental Jane’s customers usually provide her with positive feedback. This is a great way to gather testimonials (just ask!), and it’s also a gauge of what’s working. Accidental Jane also can create an effortless, automated marketing system that helps her maintain her workflow, and then she can use software to determine which marketing technique is drawing customers. She may use tweets to draw people to her web site, and/or send out a weekly newsletter. Software can keep track of which people visited her web site after receiving tweets, and which visited after receiving a weekly newsletter –  and which of those bought a product or service. In this way, Accidental Jane can almost effortlessly keep track of which of her marketing techniques are working, and which aren’t.

No matter how successful a business owner and her business are, she can make continued improvements by paying careful attention to which systems are working. Whether she can dedicate more resources to a more successful marketing campaign or take the resources from a weaker campaign and put them toward another business need, tracking performance metrics allows her to maximize efficiency and capitalize on success.

Interested in learning more about the five Jane types and which Jane you are? Check out www.janeoutofthebox.com

About the Author:

Michele DeKinder-Smith is the founder of Jane out of the Box, an online resource dedicated to the women entrepreneur community. Discover more incredibly useful information for running a small business by taking the FREE Jane Types Assessment at Jane out of the Box. Offering networking and marketing opportunities, key resources and mentorship from successful women in business, Jane Out of the Box is online at www.janeoutofthebox.com

Categories
Operations

Best of the Janes: Tracking Business Performance

Tracking a company’s key business metrics is essential in determining next steps and in planning for the future. Although each business owner has her own methods for running her business, every business owner can benefit from the following advice regarding tracking business performance:

* Use measurable marketing systems. Because marketing often requires a significant investment of time and/or money, it is important that the systems a business owner employs be measurable. For example, Google “pay per click”  advertising can track how many Internet users get a certain company’s link during a search and how many visit the link. Creating measurable marketing systems can be as simple as sending out coupons customers can bring in, or providing a discount to customers who mention a radio or TV ad, or asking customers to fill out a quick survey about how they heard about the business. In this way, a business owner can decide whether her resources are well-spent.

* Study existing customer relationships. By sending out a quick e-mail survey or questionnaire to existing customers, a business owner can gather information about what she’s doing well, what she could work to improve, and which services she might want to consider adding or cutting. For example, if she sells books, games and toys, and customers report that they really come to her store for the games and books, she could redirect some of her resources from toys to add games and books. In another scenario, a business owner may be advertising in multiple venues, hoping that one of them will catch a customer’s attention. By interviewing her customers, she may discover that the majority of them discovered her through one particular advertising venue – and she could then better focus her advertising efforts.

* Gather testimonials. Business owners who gather testimonials are really achieving two great things at once: they’re attaining future marketing material, and they’re learning what they do best, according to their customers. By asking for feedback, a business owner can learn which of her products or services are the most successful – and she can focus on them.

Tracking a business’  performance metrics is absolutely critical in determining its best next steps – and they may come as a surprise. Not only can an entrepreneur discover whether her resources are being spent as wisely as possible, she can also use performance information to hone her products and services and to grow her business.

Interested in learning more about the five Jane types and which Jane you are? Check out www.janeoutofthebox.com

About the Author:

Michele DeKinder-Smith is the founder of Jane out of the Box, an online resource dedicated to the women entrepreneur community. Discover more incredibly useful information for running a small business by taking the FREE Jane Types Assessment at Jane out of the Box. Offering networking and marketing opportunities, key resources and mentorship from successful women in business, Jane Out of the Box is online at www.janeoutofthebox.com