Tips and Resources for Starting Your Own Business

By Cathy Shouse

Starting a business is on the bucket list for many of us. But as fans of Shark Tank know, budding businesses face multiple challenges. That’s why the wealth of resources in the area that aim to help women entrepreneurs is so important.

Leslee Hill with the Northeast Indiana Innovation Center is director of the Women’s Entrepreneurial Opportunity Center (WEOC) in Fort Wayne. The center is an official U.S. Small Business Association (SBA) Women’s Business Center and assists women entrepreneurs at all stages, from the idea to start-up, and from growth to expansion. It offers programs, workshops, and one-on-one coaching, in addition to informative blog posts.

In interacting with Hill, it’s obvious she has a vast knowledge at her fingertips.

Resources for Entrepreneurs:

Fort Wayne SOUP fortwaynesoup.org, an organization that hosts micro-grant dinners that foster community and raise funds for creative projects that enhance Fort Wayne living.

Founders Spark foundersspark.org, an organization dedicated to introducing new and aspiring entrepreneurs, hustlers, and go-getters into the startup community as well as providing them the tools they need to succeed.

Own Your Success facebook.com/groups/oysfortwayne/, a nonprofit dedicated to women who own their own company.

SCORE Mentors of Northeast Indiana northeastindiana.score.org, free business mentoring, workshops and more to help you start or grow your company.

Start Fort Wayne startfortwayne.com, helps entrepreneurs turn ideas into growth-oriented businesses.

WEOC Director Leslee Hill’s Five Steps for a Business Start-up

1. Determine the problem you are solving and for who, among other components of a *Lean Canvas (see note). Make this as specific as possible. How old are they? Where do they live? Where do they work and play? How much do they make annually? Do they have children? How old? Are they married or single? Do they use technology or will they require someone’s help to connect with you?

*Note: Here’s a digital tool for creating a lean canvas https://goo.gl/images/dV7rk2

2. Talk/interview/survey at least 100 potential clients. Give them what they want, not what YOU want.

3. Make sure you have a support system in place. This is THE hardest thing you will ever do. You need to surround yourself with people who will be honest and supportive.

4. Determine how you will financially invest in your start up. It takes money to make money. If you will continue to work full time, you will need to be diligent in carving out dedicated time to your business. So block out power hours on your calendar and KEEP TO THIS SCHEDULE.

5. Embrace selling: You MUST ask for the money and take the full amount. You should either be getting paid for your product/service or communicating through customer service, networking, contacting leads, following up and also MAKE THE ASK about your product/service. Everything else is outsourced. Period.

Women entrepreneurs must face their fears of:

• Being judged

• Having to sell

• Pricing for their worth

• Financial Investing in larger scale ventures — even a website fee can be daunting, thinking of taking out a loan stops most in their tracks.

• Hiring someone whom they trust — giving up control

• Investing in a coach, because with so many other things to pay for, a business coach seems frivolous and has no guarantee of results

The Good News

There’s never been more help available or a better time to start. Steve Franks, program manager of the Farnsworth Fund, represents one such go-to resource. Having 240 members to draw from, it has provided 88 $1,000 grants of seed money so far.

“It is important for women entrepreneurs to know that they can find support at Own Your Success, a community of women business owners, and the Women’s Economic Opportunity Center,” Franks said.

Hill agreed: “So many people want to help you, especially in the startup phase. Utilize them. Our entrepreneurial eco-system is robust. Utilize it. Seek mentors, and remember to relax. This is a marathon, not a sprint.” a

Resources:

Women’s Entrepreneur Opportunity Center, Fort Wayne, 260.407.6442, theniic.org/star/womens-entrepreneurial-center/ Farnsworth Fund, Fort Wayne, 260.450.2897, farnsworthfund.com

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