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Is entrepreneurship for you


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Is entrepreneurship for you

  1. 1. Is Entrepreneurship For You? Practical Training for LWL Launchers Presented by Angela Stalcup Market Director, Atlanta
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  3. 3. The Launch Revolution• Women are starting businesses at twice the rate of men• The traditional job market often fails to provide women with the flexibility, or opportunity that would provide the possibility of life balance and a playing field on which to achieve.• Women often start businesses that solve issues not presently being addressed in the workplace.• Reasons for launch: – Freedom and flexibility – Creativity and passion – Financial independence and control
  4. 4. Personality Traits of Successful Entrepreneurs• Exhibit a higher ability for problem solving.• Manage life’s stressors and disappointments more effectively and with less upset.• Report being more independent and open to change.• Possess a bolder approach to their interactions.• Exhibit a greater need for dominance and control over events in their lives• Achievement-oriented• Persistence to work through obstacles
  5. 5. Personality Traits of Successful EntrepreneursSuccessful women in small business differentiated themselves from male small business owners on several personality factors. Women:• Tend to be more extroverted.• Show more sensitivity and trust.While they tend to be a bit more self-critical, as compared to men they are also:• More forthright and open in their communication.• Less rule bound, but more attentive to detail.
  6. 6. 12 Barriers To Launch1. Lack of business networks2. Lack of role models in the workplace3. Lack of growth and expansion capital4. Lack of entrepreneurial education / training5. Negative self-perceptions (i.e. self-confidence, fear of failure6. Access to credit, financing7. Child and dependent care responsibilities8. Discourse of entrepreneurship inherently male, with traits of defined counter stereotyped female traits / ghetto-izing of female entrepreneur9. Lack of turnkey solutions from trusted source10. Lack of adequate marketing, PR and distribution for their products and services11. Lack of roadmap, clear path and focus12. Fear that starting a business will mean family and personal life sacrifice
  7. 7. Overcoming Barriers1. Connect to “The New-Girl” Network2. Get educated3. Build confidence4. Identify key funding partners (probably you and your family)5. Develop your plan6. Find community for support and accountability
  8. 8. Tips for a Successful Launch• Dream big, then capture your vision. Open your mind to all the possibilities and record those ideas in writing, with a vision board, or any method that you’ll reference again.• Get specific. Take the big dream and clarify the Who, What, Where, How, and When of the idea.• Know your 3 Ds: Deliverables, Dollars, and Dates. Know what you need to do (Deliverables), how much money you’ll need to do it (Dollars), and set a timeline with specific Dates.
  9. 9. Launchwork• One-Page Business Plan – Capture your vision – Explore the specifics• Revenue Projection – Is your hobby a business, or is your business a hobby? – Either way, monetize it!
  10. 10. Your One-Page Template• Brand Essence (Who we are. What makes my brand unique? What 5 words describe my brand/product/company?)• Vision & Mission (What we do and why.)• Target Audience (To whom do we sell? Segment by Age, Gender, Income, Lifestyle, Interests)• Marketing (How do we communicate with the world? Where will we find our target audience?)• Finance & Revenue (How much does it cost? How much do we make? How much do I get paid?)• Operations/Support Team (How will the company work? Who works with/for us? How will we grow?)
  11. 11. Revenue Projection
  12. 12. Work Your Plan• Think: Dates, Deliverables, Dollars – Dates: • Have a specific timeline for your tasks. Adjust timeline as necessary. • Be consistent in your efforts – Deliverables: • What specific tasks do you need to accomplish? • What products/services are you bringing to the market? How do these need to change as your business grows? – Dollars: • Monitor costs • Price accordingly • Adjust as necessary
  13. 13. Tips for a Successful Launch• Start small. Make a commitment to one action and take it. Test the waters. Don’t overspend before you know if your idea is financially viable AND if you really want to do the work necessary to run the business.• Find a support community. No need to go it alone. Find trusted resources for help, advice, support and inspiration. – Ladies Who Launch: – SCORE: – Georgia SBDC: – Atlanta Urban League: – Wicked Start:
  14. 14. Resources• (Templates for start-ups and non-profits) – template-gallery• 5 Question Plan: magical-business-notebook/• Joyful Business Guide: –• Right-Brain Business Plan –• Book: The One-Page Business Plan,by Jim Horan –• Book: Business Model Generation,by Alexander Osterwalder & Yves Pigneur –
  15. 15. Resources• Ladies Who Launch Platinum Membership – Community, resources, advice, encouragement, exposure – – $39/month or $399 for a year• Incubator Workshop Program – Start by launching something new or take your existing business, project, or idea to the next level. If youre feeling stuck, or you need help getting your ideas out of your head and into the world, you will find the Incubator process – – $319 ($219 for attendees with discount code WorthIt)• Personal Roadmap Session – Work one-on-one to brainstorm your business idea and develop a strategy for moving forward – – $199 for a 90 minute session
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  17. 17. Ladies Who Launch is committed to bringing youHigh quality resources. We want your feedback. Please fill out our short survey!