Washington Women's Business Center Blog

Recent Changes to Social Media Advertising

noreply@blogger.com (Anonymous) — Mon, 16 Dec 2013 17:45:00 +0000

In the last week, several announcements have been made that change the landscape for many small business owners who wish to advertise through social media. The first comes indirectly from Facebook; the other is from #2 social media site, Google Plus.

FACEBOOK
The first announcement was actually a shift in stance at Facebook that was noticed and published in a recent article on Advertising Age’s website. Facebook is shifting. They want to make the posts that appear when users log in to be useful, interesting, and relevant. As more marketers jump on Facebook, that means more attempts to get a user’s attention from brands, and therefore the number of times one of your business posts will show up in the timelines of your followers will decrease over time because otherwise everyone’s timeline will be covered with business-page posts rather than your cousin’s wedding or best friend’s baby pictures. Last year, I saw statistics that on average, 15% of a page’s followers would see any given post. Now they’re expecting that to drop into the mid-single digits as they try to make the timeline more relevant to users. That means if you manage to get 1000 followers, perhaps 40 of your subscribers might see what you post.

The solution, according to Facebook, is to pay them more money. They argue that the reason you should pay them for more followers is twofold: first, 4% of a large number of followers is more people than 4% of a smaller number; also, it makes the ads you run more effective by increasing the connectivity and breadth of your audience. Once you’ve built that audience, you should pay them again to increase the percentage of people who see it back to what they’ve already been offering.

Of course, critics of this change (this article being only one example) point out that if a brand is posting irrelevant things, a user can just revoke their Like and the problem is solved--no need to change the algorithm. And that it’s hardly fair to charge a small business to get more followers, and then charge them again to talk to the followers they paid to get, particularly when the restriction on who gets to see the post is an artificial one.

It seems to me that Facebook is becoming less and less small-business friendly. If you’re a famous national or international brand, you’ve got the budget to do this. For a small startup or family-owned shop, it just doesn’t seem worth it. Why not invest in building an email newsletter list instead? Then you get to contact 100% of your "followers" any time you want. For free. For businesses that can do well with short text posts, Twitter can also be done for free without restricting the audience. The value of Facebook as a small business marketing tool seems to be eroding fast in comparison to other social media outlets.

GOOGLE PLUS
The news out of Google is that they’re changing policies, too. Previously, there were no display ads permitted on Google+ and you couldn’t pay them to change how your content was displayed. Soon, that will change. There will still be no display ads on Google+ but they will soon be launching “+Posts” which seem like they will be sort of like promoted posts, only with a twist: when you promote a post, they will be displayed not on G+ itself, but throughout Google’s online ad network.

What will that look like? Well, judging from the video about the upcoming feature it seems that your G+ post will show up instead of ads in places around the web as a whole, with all its interactivity intact. Knowing how important relevance is for Google, I’m assuming it will show up in places where there are content matches. Reading a blog post about chocolate? There, instead of an ad along the side, is an embedded G+ post from Cadbury. And it appears you’d be able to comment, +1, share, join a Hangout, instead of just clicking on the ad to be taken to the target page. In other words, it blurs the line between “advertising” and “social media.”

Since building an audience on G+ is still free, and that building authority around a topic there helps you to rise to the top of Google search results, and soon those posts can also be promoted through Google’s ad network if you choose to pay, it seems like these changes are making Google Plus a far more appealing place than Facebook for a small business owner trying to grow their business.

Brown Bag Series: Customer Development with Zac Cohn of LIFFFT

noreply@blogger.com (Anonymous) — Wed, 28 Aug 2013 15:47:00 +0000

by Michael J. Coffey

Earlier this month, Zac Cohn of LIFFFT, presented our latest brown-bag lunch workshop entitled Customer Development. In particular, Zac took us through a series of techniques to use when interviewing customers--particularly if you haven’t got customers yet. The idea is that if you interview people in general about what their needs and concerns are, you may find that your product or service doesn’t have as large an audience as you might think. If that’s the case, you’ll save time and money by changing direction and offering something they do want.

Once participant said that he basically knew the general area he’d like his business to be in but not the specifics of what he’d offer. Zac said that’s the perfect place to start interviewing people. He suggested just going out and stopping people on the street. Usually you can get some good feedback by simply saying “Excuse me, I’m working on a project and I’m wondering if I could ask you a couple of questions.” You might want a question or two to make sure they’re potentially a customer: “Do you have a dog?” if you’re thinking of pet products; “Do you have children?” if you’re thinking about youth-related services; “Do you own a car?” if you’re considering something in the automotive industry. Now you’re interviewing a potential customer!

Some good questioning techniques? Well, you don’t want to be bias or lead the person you’re interviewing. And no asking “ice cream questions” (questions that really only have one answer--who in their right mind would turn down ice cream?) Instead, the goal is to get the person talking about their own, real-world concerns. A great way to start would be “Tell me about the last time…” and finish it with a situation that might be a pain-point for your target customer. The answer will typically reveal something interesting. “Yes, and…?” “Tell me more about…” “What do you mean by…?” These open ended questions help the other person to express things you might not have asked about. I started asking my partner for one exercise, “Tell me about the last time you had a cup of tea.” By the end of the 5-minutes, we were talking about Chinese politics and ads for milk. Let the other person lead the conversation. Just show interest and ask for more--evoke the stories they tell about their lives--and you’ll probably end up with more information than you would get from a carefully planned questionnaire.

Another useful question was “How are you dealing with your problem now?” The answers to this question allows you to learn more about how important the problem is, or how much time and money they are willing to spend on addressing the problem. If a person says, “Oh, I just try to ignore it if it comes up” there’s a different level of consumer need than if they say, “So far I’ve spent thousands of dollars on specialists and nobody seems to be able to fix it.”

Finally, we looked at some questions for a different take on developing your product or service. It’s a framework to help you develop your own questions for customer interviews, and looks roughly like the scientific method:

What is your problem statement? (Be sure not to include your specific take on the answer. “People in X neighborhood have to travel 5 miles to get a haircut” is better than “There isn’t a salon in X neighborhood” because the first problem statement might evoke multiple ways to solve the problem, whereas the second can only be solved in one way.)
Do you have a hypothesis you’re testing? (This is your idea--the way you’re considering to address the problem. It might be a salon in the neighborhood, or it might be mobile, in-home haircut house calls.)
Who has this problem? (This will help you with that first question or two of your interview. In the haircut example, it might be “people who live or work in X neighborhood”)
Where can you find them? (This question will help you find good people to interview, and later to plan where and how you will market your product or service. The answer might be geographic, like a ZIP code, or it might be places they tend to go, like a dog park or day care centers)
What are some good questions you can use to explore this problem? (Brainstorm a list of questions that will evoke stories about the area you’re thinking about)

The feedback from participants was positive. Some of the comments included “I’ll use the problem statement and develop good questions.” “Will be interviewing current clients as well…” and “Attend if you need to validate ideas.” We’re glad we were able to host Zac for this workshop and look forward to bringing him back to talk about other topics as well!

Interview with Karyn Gold-Reineke, Founder of Pirouette

noreply@blogger.com (King County WBC) — Mon, 08 Jul 2013 19:07:00 +0000

Interview with Karyn Gold-Reineke, Founder of Pirouette

By Grace Robinson-Seim,
www.pirouetteessentials.com ◆ info@pirouetteessentials.com

Business is going well for Karyn Gold-Reineke, founder of Pirouette, an artisan perfume and natural spa luxuries company based in Seattle. You’ll find her exquisite line of handcrafted perfumes, soaps and lotions in a number of stores around the area, including Town and Country Markets and Whole Foods. However, when Karyn was laid off from her comfortable, full-time job at an art museum at the height of the financial collapse in early 2009, her future was anything but certain. Encouraged by friends and family members to expand on her soap making hobby, Karyn initially decided to make ends meet by selling the artisan soaps she had previously enjoyed giving out as Christmas gifts. She started out with a simple Etsy shop, which she managed easily while working out of her 325 square foot cottage home in the woods. When she introduced her perfume line, however, her orders began to pick up. Karyn found herself working twelve hour days, seven days a week. While the progress was exciting, the work load was daunting. Her creative background did little to prepare her for the complexities of running a business on this scale.

“I’m so much more of the artist in this,” says Karyn. “I think of myself as more of a perfumer and a scent creator. I haven’t really ever been a very business-minded person, even though I’m very entrepreneurial.”
A friend introduced Karyn to Community Capital Development, where she got the support she needed to keep up with the demands of her rapidly expanding business. Karyn benefited from free counseling through CCD’s Washington Women’s Business Center on topics ranging from building a business plan to basic accounting.

“I wanted to have a long term plan for my business,” Karyn explains. “I have been working a lot with Nita Conlin, looking at my sales and profit margins for each item and doing cash flow projections. It was really enlightening for me to be able to project where I would be and plan ahead. You can see so much more clearly, and it was so simple! Even though it was kind of crazy getting all the numbers together, it was so empowering being able to understand. It was like getting a crystal ball!”

Now in her own studio space in a vintage brick building in Pioneer Square, Karyn is eager to continue on her upward trajectory. “It has been really good for me to get some of those skills and understand what people do,” she says. “I’ve told so many people about Community Capital Development, too. It’s so great, and it’s free!”

Letter from Nita

noreply@blogger.com (King County WBC) — Tue, 02 Jul 2013 17:18:00 +0000

Dear friends,

It’s not often we find our dream job, leave it and then get to come back. However, that’s exactly what happened to me. I feel very fortunate to have had the opportunity to work with the many clients of the Washington Women’s Business Center over the past 5+ years. I have had fun teaching many Launch and Grow classes, QuickBooks and other classes and it has been exciting to see so many of you launch your very own businesses.

To those of you still working towards that direction – keep going!

I feel confident that the Washington Women’s Business Center will go to new heights under the new leadership of Jennifer Teehan along with staff, Michael Coffey and Justine May.

As Henry David Thoreau said, “I learned this, at least, by my experience: that if one advances confidently in the direction of his dreams, and endeavors to live the life which he has imagined, he will meet with a success unexpected in common hours.”

I wish you all continued success in your entrepreneurial endeavors and look forward to our paths crossing again.

Best regards,

Nita Conlan

Class Summary: Growing Your Business with Email Marketing

noreply@blogger.com (King County WBC) — Thu, 20 Dec 2012 19:14:00 +0000

Two weeks ago, Dana Pethia of Constant Contact presented a workshop about the use of email as a marketing tool for entrepreneurs and small business owners. Attendees commented that the information she presented was "very informative," "a great resource," and "practical, up to date marketing."

The course presented information comparing what Dana referred to as "ISP email" such as Outlook, Gmail, and so forth, with email delivery services such as Constant Contact (and there are others) that do more than just send and receive email, but also include tracking of how many messages are opened, archiving past email newsletters on the web so they can be linked to later, and other statistics that help you to understand how your subscribers are interacting with your communication.

One of the big things that she stressed throughout the workshop was the idea of permission. It's important to be sure you have permission to send your messages to the people on your list. Not doing so is spam. Not having that permission (and not reminding people that they gave you permission) can get you reported, leading to a dramatic increase in the number of your emails that go strait into the junk mail folder.

The other general topics covered included tips for increasing responses, statistics about what is common or average (including the most common times and days of the week that email newsletters get opened), best practices, good and ethical ways of building your list of subscribers, content that can be used for your messages, designing both the look and the delivery information of your emails, and additional resources for things like finding good colors and writing subject lines.

Full Disclosure: Constant Contact allows Community Capital Development and the Washington Women's Business Center to use their services at below the regular rate as an in-kind contribution.

noreply@blogger.com (King County WBC) — Fri, 10 Aug 2012 23:29:00 +0000

Seattle University is beginning it's 8th year of the Community Development Entrepreneurship Clinic and we are excited about the prospects for the upcoming year!

Goals:

The goals of the CDEC are for business students and law students to work together to develop the practical, interdisciplinary skills required to identify clients’ needs accurately, and to work effectively with clients to provide them with meaningful, practical business and legal advice that will empower these entrepreneurs to succeed in their business ventures long after the clinic has ended.

Description:

Business students and law students are teamed together as business consultants and legal advisers to local small business people. Teams will consist of two to four business and law students. Teams will be supervised by one of the two clinic faculty members (lead faculty); the second faculty member will provide supplemental assistance in the particular specialty (business or law). In addition, each team will be assigned two mentors – one law mentor, and one business mentor.

Mentors volunteer to meet regularly with the student-led teams to provide additional guidance, coaching, issue-spotting, and trouble-shooting. There are a variety businesses advised by the clinic. Some clients are current clients who come from one of three local micro-enterprise counseling organizations: Community Capital Development, StartZone, and Washington Community Alliance for Self Help (CASH). We recently expanded clinic services to more established firms that seek assistance in growing their markets or addressing some particular business challenge.

This course also seeks to contextualize the work of the clinic and that of the entrepreneur in a broader societal framework—how can (and do) business ventures aid in the development of communities? What should customers expect from small business owners? Do entrepreneurs have broader community responsibilities beyond the provision of the business goods or services at a profit? What does the concept of sustainable business development and growth involve?

The application deadline is Friday, August 24. Please call (206) 325-4330 x100 for more info or for an application, or email ashleym@seattleccd.com

Please find a copy of our client application attached.

Newest Graduating Entrepreneurs

noreply@blogger.com (King County WBC) — Thu, 09 Aug 2012 20:54:00 +0000

Congratulations to the newest group of entrepreneurs to graduate from our "Launch & Grow Your Business" series! Good luck in your businesses.

If you would like more information on this series, please visit our webpage at wbc.seattleccd.com, where you can view our monthly calendar for all upcoming events here at the Washington Women's Business Center.

Small Business Institute Program

noreply@blogger.com (King County WBC) — Wed, 06 Jun 2012 18:17:00 +0000

Professor Harriet Stephenson has one summer quarter undergraduate class providing overall analysis to small businesses. Classes begin June 18, and client selection is Wednesday, June 20.

Potential clients will be invited to give an informal pitch on that day. Coming to class is not required, but it increases the probability of being selected.

Would like potential clients to be available for presentation from 2-3:35 PM. Aim for 3-4 minute maximum:

information about themselves and company,
why they need or want the student consultants, and
why they think the students might find this interesting or worthwhile to work on

Be sure client has read requirements of program to know that focus on just one aspect such as marketing or use of social media would not be an appropriately placed project for this class.

If you know of any businesses that would benefit from the students' analysis, please let the business owners know about the consulting services offered by Seattle University. Information about the SBI program and how to apply are provided below.

Small Business Institute Program at Seattle University
http://www.seattleu.edu/asbe/ec/sbi

Application:
http://www.seattleu.edu/asbe/ec/sbi/#Applications

Place:
Seattle University
901 12th Ave.
Seattle, WA 98122

Date:
Wed., June 20, 2012

Time: 2 PM

Cost: FREE

Please call Professor Stephenson at 206-819-3113 if you have any questions.

WIPP Action Alert: Support Bill to Boost Women Contracting

noreply@blogger.com (King County WBC) — Tue, 08 May 2012 22:26:00 +0000

Help get larger contracts in the hands of woman business owners. If you have not done so already, please urge your Senators to support S. 2172, the Fairness in Women-Owned Small Business Contracting Act. Click here to take action! And if you have contacted your Senate offices, we thank you for your continued support in this effort to see this important bill become law.

This legislation removes existing barriers to federal contracting officers who award contracts to women owned businesses. Boosting the size and number of federal contracts will help spur economic growth by allowing successful women-owned small businesses to compete for and win larger contracts; enabling them to hire additional employees and grow their businesses.

Write your Senators and tell them that you support the Fairness in Women-Owned Small Business Contracting Act and that they should too. Urge them to sign-on as co-sponsors of this legislation. To make your voice heard to your Senators, please click here and follow the instructions.

WIPP is a national nonpartisan public policy organization, advocating on behalf of nearly 1 million women-owned businesses representing 61 business organization. WIPP provides timely economic policy information and identifies important trends and opportunities to its membership. Click here to read WIPP's Nonpartisan Policy Statement.

888.488.WIPP ~ www.WIPP.org

SBA Hosts 14-City Matchmaker Conference to Connect Small Businesses with Teaming and Federal Contract Opportunities

noreply@blogger.com (King County WBC) — Tue, 24 Apr 2012 18:41:00 +0000

SBA News Release Date: March 20, 2012

WASHINGTON--The U.S. Small Business Administration will host the fourth of its free Mentor-Protégé Matchmaking Conference series in Los Angeles, Calif., on March 21. The program gives small disadvantaged businesses access to guidance on federal contracting, face-to-face meetings and opportunities to team with larger businesses and graduates of the SBA’s 8(a) Business Development program.

During the forums, small businesses will learn how to market themselves to the federal government and go after government contracting opportunities. They will also get an overview of the SBA’s Mentor-Protégé program – a tool of the SBA’s 8(a) program that encourages mentors to team with a protégé or smaller firm to help them with management and technical assistance, financial assistance and access to joint ventures and federal contracting opportunities.

“Although we are encouraged by the economic indicators trending upward, we are still facing challenging economic times,” said SBA Administrator Karen Mills. “That’s why it’s important that we make sure that more federal contracts get into the hands of small businesses that drive the nation’s economy and create jobs. These forums will go a long way in making sure that small businesses know how to leverage their companies and team with viable partners to take their businesses to the next level.”

The forums will also feature a discussion of strategic alliance and joint venture opportunities, a Q&A session and face-to-face and virtual business matchmaking sessions with larger businesses and companies that have graduated from the 8(a) program.

Small disadvantaged businesses and 8(a) firms interested in attending must register at:

http://sba.mybusinessmatches.com/buyers/generalinfo. Approximately 300 small businesses will be matched prior to their meetings based on their compatibility.

The first three matchmaking conferences took place in Washington, D.C., in January and Atlanta, Ga., and Orlando, Fla., in February. The list of the remaining cities scheduled is as follows:

Los Angeles, Calif. (March 21)

Houston, Texas (March 27)
San Antonio, Texas (March 29)
Chicago, Ill. (April 5)
Denver, Colo. (April 11)
Boston, Mass. (May 10)
Newark, N.J. (May 23)
Seattle, Wash. (June 7)
Kansas City, Mo. (June 21)
Sacramento, Calif. (July 24)
Cleveland, Ohio (August 7)

For more information about the SBA’s Mentor-Protégé program, visit: www.sba.gov/content/mentor-protégé-program and to learn more about the Mentor-Protégé Matchmaking Conference, visit: http://sba.mybusinessmatches.com/buyers/generalinfo.

SBA Celebrates Women’s History Month

noreply@blogger.com (King County WBC) — Fri, 30 Mar 2012 21:37:00 +0000

Our regional SBA office recently hosted a Women-owned Business Panel in celebration of Women’s History Month. The following women volunteered their time to speak on the panel which was moderated by Whitney Keyes of Whitney Keyes Productions:

Natalie Barnes, the Owners Alliance
Maria Beck, Andelcare
Kay Hirai, Studio 904
Tanya Jimale, JTS Management
Laurie Simon, Ombrella, Inc.
Karen Whorton, Reusies

Did you know? Women-owned businesses employ more than 7 million workers and generate over $1 trillion in revenue each year.There are 7.8 million women-owned businesses in America

They grew 44% from 1997 to 2007 (twice as fast as male-owned businesses)
88% of these women-owned firms are small businesses

Press Release

noreply@blogger.com (King County WBC) — Mon, 26 Mar 2012 22:35:00 +0000

Senators Introduce Legislation to Bolster Women’s Contracting

WASHINGTON, D.C. – Today, in conjunction with National Women’s History Month, U.S. Senators Olympia J. Snowe (R-Maine), Kirsten Gillibrand (D-New York), Mary Landrieu (D-Louisiana), Michael Bennet (D-Colorado), Jeanne Shaheen (D-New Hampshire), Barbara Mikulski (D-Maryland), and Lisa Murkowski (R-Alaska) announced the Fairness in Women-Owned Small Business Contracting Act of 2012, bipartisan legislation to address deficiencies in the Small Business Administration’s (SBA) women-owned small business contracting program which Congress directed it to establish over 10 years ago.

“Simply put, women-owned small businesses have yet to receive their fair share of federal contracting dollars, and as the fastest growing segment of our economy, women-owned small businesses will play a critical role in helping our nation recover from the recent recession,” the Senators said. “This inequity was the impetus behind the women’s contracting program that Congress authorized on December 21, 2000, and over a decade later, the program was finally implemented by the SBA. While we applaud this Administration’s efforts to finally put in place a functioning program, the unfortunate fact is that women-owned small businesses will still face a disadvantage when compared to HUBZone, 8(a), and service-disabled veteran-owned businesses. Our legislation will help put women-owned firms on a level playing field with these other socio-economic groups to ensure their maximum participation in the federal contracting process.”

The Fairness in Women-Owned Small Business Contracting Act of 2012 will provide women entrepreneurs with the tools they need to compete fairly in the federal contracting arena by allowing for receipt of non-competitive contracts when circumstances permit. Moreover, the legislation would eliminate a restriction on the dollar amount of a contract that women-owned small businesses can compete for, putting them on a level playing field with the other federal small business socio-economic contracting programs. The federal government has consistently failed to meet its annual women’s contracting goal of five percent, and this legislation will assist in satisfying, if not exceeding that goal. This legislation has already received letters of support (attached) from the National Association of Women Business Owners (NAWBO), Women Impacting Public Policy (WIPP) and the U.S. Black Chamber, Inc.

The Senators are introducing this bill to coincide with National Women’s History Month, during which time the country recognizes the contributions, feats, and leadership of America’s women. In 1987, Congress declared March as National Women's History Month in perpetuity. Additionally, a special Presidential Proclamation is issued every year which honors the extraordinary achievements of American women.

The Heartland Café

noreply@blogger.com (King County WBC) — Tue, 13 Mar 2012 19:13:00 +0000

Ramona Pekelo

The Heartland Café is “Serving Midwestern comfort food like mom used to make”. This is the motto for the restaurant Jay Wergin and Jeff Loren launched two years ago. Born and raised in Green Bay, Wisconsin, Jay has always been a fan of Midwest comfort food—the types of food served at supper clubs, church picnics, and backyard barbeques. With Jay’s Midwest heritage as a motivator, he brought the idea of opening a restaurant to his longtime friend, Jeff Loren. Pairing Jay’s marketing skills and creativity with Jeff’s 20 years of food industry experience, The Heartland Café opened its doors to the public in April 2010.

Prior to opening The Heartland Café, Jay and Jeff had fallen upon hard times. Jay was recently laid off from a publishing job at a Travel and Tourism company. Jeff suffered a broken back and was forced to close his 7-year-old fireplace installation company. Jay shares words of wisdom, “Given the state of the economy when we opened the doors, it’s a testament to the power of reinvention. During hard times it’s best to look inside yourself and find a new passion to move forward with your life.”

While there are no plans to expand their restaurant business, Jay and Jeff plan to diversify. With their business formed under the West Seattle Sausage Company, the two entrepreneurs plan to launch their own line of sausage and beer mustard which will be offered at farmers markets around Seattle.

The Heartland Café, featuring affordable family dining, is located in the Admiral District of West Seattle where the Admiral Benbow Inn operated for 50 years. The Benbow Room remains a part of the Heartland Café because longtime West Seattle resident, Jay Wergin, knew the old Pirate Ship themed bar would be an instant hit. “There is no other bar of this kind in Seattle. The Benbow Room is a landmark institution.” With the goal of becoming a local music scene, the bar will offer live music every weekend. The Heartland Café and Benbow Room are on their way to making a name for itself in West Seattle. Jay and Jeff invite you to come and see for yourself!

4210 SW Admiral Way, Suite A.
Seattle, WA 98116

Hours of Operation:
Monday: 6:30am to 3pm
Tuesday - Thursday: 6:30am to 9pm
Friday - Saturday: 6:30am to 2am
Sunday: 6:30am to 9pm

Visit them at www.heartlandcafeseattle.com

2012 National Women’s History Month Theme:

noreply@blogger.com (King County WBC) — Mon, 05 Mar 2012 21:51:00 +0000

Source: NWHP

Although women now outnumber men in American colleges nationwide, the reversal of the gender gap is a very recent phenomenon. The fight to learn was a valiant struggle waged by many tenacious women—across years and across cultures—in our country. After the American Revolution, the notion of education as a safeguard for democracy created opportunities for girls to gain a basic education—based largely on the premise that, as mothers, they would nurture not only the bodies but also the minds of (male) citizens and leaders. The concept that educating women meant educating mothers endured in America for many years, at all levels of education. Pioneers of secondary education for young women faced arguments from physicians and other “experts” who claimed either that females were incapable of intellectual development equal to men, or that they would be harmed by striving for it. Women’s supposed intellectual and moral weakness was also used to argue against coeducation, which would surely be an assault on purity and femininity. Emma Willard, in her 1819 Plan for Improving Female Education, noted with derision the focus of women’s “education” on fostering the display of youth and beauty, and asserted that women are “the companions, not the satellites of men”—“primary existences” whose education must prepare them to be full partners in life’s journey. While Harvard, the first college chartered in America, was founded in 1636, it would be almost two centuries before the founding of the first college to admit women—Oberlin, which was chartered in 1833. And even as “coeducation” grew, women’s courses of study were often different from men’s, and women’s role models were few, as most faculty members were male. Harvard itself opened its “Annex” (Radcliffe) for women in 1879 rather than admit women to the men’s college—and single-sex education remained the elite norm in the U.S. until the early 1970s. As coeducation took hold in the Ivy League, the number of women’s colleges decreased steadily; those that remain still answer the need of young women to find their voices, and today’s women’s colleges enroll a far more diverse cross-section of the country than did the original Seven Sisters. The equal opportunity to learn, taken for granted by most young women today, owes much to Title IX of the Education Codes of the Higher Education Act Amendments. This legislation, passed in 1972 and enacted in 1977, prohibited gender discrimination by federally funded institutions. It has become the primary tool for women's fuller participation in all aspects of education from scholarships, to facilities, to classes formerly closed to women. Indeed, it transformed the educational landscape of the United States within the span of a generation.

SugarPill: Full Apothecary in Capital Hill

noreply@blogger.com (King County WBC) — Mon, 13 Feb 2012 20:04:00 +0000

Ashley Metcalf

Proprietor Karyn Schwartz crafts magic for her customers with the use of Apothecary, Culinary and Mercantile ingredients.

To the common eye, SugarPill may appear to be yet another retail shop offering souvenirs to bypassing tourists. But taking a closer look, SugarPill offers a unique and eclectic mercantile rare to Seattle, as well as free consultations.

Owner Karyn Schwartz started her company last February providing herbal supplies, natural remedies, and culinary spices. Her products appeal to a variety of people, and establishing a retail base to offer her services is something Karyn has sought for quite some time. The apothecary section features bulk herbs, the culinary area offers seasoning blends, salts and spices, and the mercantile category includes natural body and skin care products, paper goods and nutritional supplements. "What is very popular are my culinary options such as salts, honeys, preserves, chocolates, teas-all being from local vendors," explains Karyn.

With a varied background in social work, massage therapy and being a chef, Karyn is passionate about helping her community. Opening SugarPill has offered her a nice outlet to serve her family, friends and the public. "This has been such an amazing opportunity to reach a lot of people and be available to my neighborhood, as the best work I do is teaching people."

Karyn is thankful to give to back, since her business start-up was in a large part possible because of community support. Karyn had immense assistance from friends, clients, colleagues and her amazing partner that believed in her success. In 2010, Karyn sent a proposal to her community, in what she calls a CSA Investment- Community Supported Apothecary, based on the older model Community Supported Agriculture. Karyn sent a letter out to her community explaining her business model and services, and asking for support. Within a few weeks Karyn received over 100 responses with offers of capital and confidence. In a matter of weeks Karyn gained half of the capital she needed to open her retail shop, the other half was obtained through a loan by Community Capital Development with the assistance of the Washington Women’s Business Center.

In the future, Karyn wants to make her business more sustainable, and help more people throughout her community. She feels lucky she is in a position to help already, and hopes her business grows and reaches more people throughout the Seattle Area. Stop by SugarPill today to get a knowledgeable consultation, herbal remedies, and goodies along the way.

SugarPill 900 E. Pine St. Seattle, WA 98122 • T 206.322.7455

ReUsies: Little Baggies That Make a Big Difference

noreply@blogger.com (King County WBC) — Tue, 07 Feb 2012 19:38:00 +0000

Ashley Metcalf

The Seattle based company, ReUsies, has been in operation since 2008, offering customers a nice alternative to the traditional sandwich/snack bags. ReUsies owners Karen Whorton and Becky Harper realized their families went through a multitude of plastic bags every day, and were interested in finding a substitute. After they tested their reusable baggies at their children's school, they knew they had a brilliant idea on their hands, and sales catapulted once they launched their business.

"Reusable water bottles, boxes and Tupperware are too cumbersome for my kids," explains Karen, as she details the beginning of her business venture. She was fascinated with not only conserving the many daily lunch bags used by her family, but also leaving a smaller footprint for future generations. They offers re-usable, 100% cotton bags lined with leak-resistant nylon and secured with Velcro closures in numerous is sizes and designs; appealing to a wide, diverse customer base.

"We are proud that over 12 million plastic baggies have not been used, thanks to our product. This is such a personal accomplishment," Karen details. Remarkably, ReUsies is making a slow and steady impact and, with the help of Groupon, growth intensified even more last year. This online resource was huge exposure to clientele who otherwise would not find their product, and they hope to utilize Groupon’s services later again next year.

ReUsies is still expanding, and Karen enjoys working along her partner for many reasons, the main being their complementary strengths. "We prefer to handle different parts of the business and pride ourselves on our responsiveness to our customers, since we deal directly with them." Their long term goal is to continue expanding and one day have the opportunity to hire additional employees or an intern.

ReUsies is undoubtedly doing their part to spread awareness about environmental issues, and you can follow their developments at reusies.com/blog and their twitter page at #ReUsies. To see their lists of products, or to read more about the company, please visit their website at www.reusies.com.

Seattle Salads: A Fresh and Fast Alternative

noreply@blogger.com (King County WBC) — Thu, 15 Sep 2011 18:11:00 +0000

Ashley Metcalf

Seattleite Desirae Rabe Shakes Up a Creative Concoction at the Queen Anne Farmer's Market

(Seattle, WA-August 13, 2011)- Desirae Rabe, the creator of Seattle Salads, values a healthy lunch alternative and recently began producing a delicious and savory meal for her neighbors at the Queen Anne Farmer's Market. Seattle Salads serves as a healthy and quick substitute to the monotonous lunch hour in Seattle, where many opt for cheese drenched pizza, burgers, or teriyaki and white rice.

"I am not scared to break the rules on salads," says Desirae, as she describes her unique Bacon Jalapeno Madness Salad; made with organic mixed greens, corn, black beans, green peppers, red onion, Blue Cheese Dressing, and Tim's Cascade Jalapeno Chips instead of croutons.

Seattle Salads has been serving the Seattle area since June 2011, selling pre-packaged salads and homemade, all natural salad dressings. "There are not many options for inexpensive, quick, healthy on-the-go meals in Seattle," says Desirae, explaining the dilemma many people face when they want a salad, but do not want to spend a fortune at specialty stores. Her largest competitors are Whole Foods and PCC, but Desirae sets herself apart by creating unique, all natural dressings, that, as she states, "are almost impossible to beat."

Lime-Peanut, Strawberry Mint, Dried Apricot, Champagne Pear, and her homemade Blue Cheese are a few of her salad dressings - the most popular being the Lime Peanut. I tasted this popular salad and its unique, Thai infused flavors of lime and peanuts complemented the sweet raisins and hearty beans - it was flawless.

Desirae's largest problem was at first figuring out which way to grow first, and explains how the Farmer's Market has taught her how to efficiently run a business on a small scale. Her plans for the future are to tap into the business lunch catering market, and expand outside of Seattle. She also looks to target local gyms and universities. Her customer service background has acted as a catalyst to her business, and she hopes to open her first shop within the next year.

You can visit Seattle Salads every Thursday at the Queen Anne Farmer's Market, from 3-7:30, through October 6th, 2011. For the most updated information including the new salad of the week, check out her Facebook Page and visit her website at www.seattlesalads.com. Mention this article when you meet Desirae at the Market and buy one salad, get one salad half off.

Lucy Ethiopian Restaurant

noreply@blogger.com (King County WBC) — Mon, 12 Sep 2011 22:01:00 +0000

Ashley Metcalf

At Lucy's, the new Ethiopian Restaurant in Seattle, you will be welcomed by a relaxed ambience and flavorful cuisine. Each dish is rich in taste and nutrition and is accompanied by a variety of traditional drinks. Lucy’s has unique appetizers, such as a zesty tomato salad or pastry rolls filled with whole lentils, and delicious desserts to complete the meal.

Ethiopian cuisine is greatly enjoyed by Americans for reasons beyond its selection of flavors. This cuisine has immense health benefits stemming from its use of simple, natural ingredients. The food consists of breads, stews (known as wat), grains and spices. Typically, a meal has a combination of flatbread (injera) with different wat stews.

The main ingredients in Ethiopian cooking consist of powdered chili pepper, onions, ginger, and garlic. Equally, two essentials are butter and vegetable oil, which are simmered or sautéed in a pot to create the wat stew. The rich redness of the stew, stained by the popular paprika spice, when added in small amounts creates an enormous taste. Meats such as beef, chicken, fish, goat or lamb complete most dishes; and for vegetarians, dishes are made of split peas, lentils, potatoes, carrots and chard.

Ethiopian drinks are an exquisite part of the dining experience. Tej, for example, is an ancient honey-based wine that usually initiates a meal, sometimes in place of an appetizer; Talla is a beer made from local grain that often accompanies snacks and coffee can be enjoyed at the end of a meal, arriving with natural honey as a sweetener.

Lucy's Ethiopian Restaurant is open seven days a week from 11 AM to 2 AM, and features live entertainment after 10 PM, every night. Reservations are not necessary, but recommended.

Lucy Ethiopian Restaurant

10000 Aurora Avenue Seattle, WA 98133 Seattle, WA

(206)402-3058

Overlooked Opportunities for Small Businesses

noreply@blogger.com (King County WBC) — Thu, 25 Aug 2011 22:25:00 +0000

Ashley Metcalf

It’s easy to get overwhelmed by the harsh criticism centering on our political and economic condition here in the US-especially if you are a small business owner depending on consumer confidence, stability and continued state resources. Given the recent downgrade of US debt and everlasting volatility in the equities market, small businesses have been struggling to gain access to capital, making large expenditures such as hiring, bonuses or expansion difficult to address.

Small businesses from around the US are seeking assistance from places like Biz2Credit, an online credit marketplace, because of the downturn in our economy and the hardships that accompany it-one being access to credit. One firm based in Manhattan named Talents Combine India Inc, needs over $1 million over the next three months to hire some 25 additional programmers for new business. CEO Joe Kadi was denied by numerous large banks when he was seeking capital, and turned to Biz2Credit which helped him turn his business around. Joe Kadi believes we can no longer rely on banks or the government, and says other small businesses will realize this for themselves too.

According to Rohit Arora, CEO of Biz2Credit, businesses continue to have a tough time gaining access to credit, even if they are eager to expand. “As the US economy slows down, small business growth will suffer again” said Arora, noting he has also suspended hiring at his own company, which employs 30. Arora also explains that credit is continuously tightening, and he doubts the Federal Reserve will be able to keep the lending rates near zero. So does this mean expansion for your company has only a doomed fate? I believe not.

Other than depleted hopes and contraction measures, there are some overlooked options for small businesses who seek expansion and access to capital. The Small Business Administration, or SBA, offers online resources, personal counseling and assistance to small businesses across the US.

Most small businesses never think of foreign markets or realize the opportunities that reside outside US borders. US businesses benefit from a competitive advantage for producing high-quality, innovative goods and services; responsive customer service, and sound business practices. Although exporting requires time and commitment- the return will be well worth the investment.

Some positives to exporting include an increase in gross profit, lower transportation and communication costs, reductions in trade barriers, a reduced dependence on the US market, an extended sales potential, and a stabilized seasonal market and sales fluctuation.

If you are interested in exporting abroad, visit the SBA's website to gain access to government programs and services that support exporting. There are SBA senior trade specialists willing to help on your journey.

www.sba.gov/international

Young Professionals in Seattle

noreply@blogger.com (King County WBC) — Fri, 08 Jul 2011 19:52:00 +0000

Ashley Metcalf

I recently attended a Young Professional Networking Event, where a wide eyed and lively crowd mingled over cocktails and organic refreshments at a local gem called Belltown Billiards. Young Professional Network, or YPN, is funded by The Seattle Chamber to give professional development and networking opportunities to emerging leaders, ages 21-39, in the Seattle area. I was uncertain what to expect, but was immediately astounded by the enthusiasm carried by this cohort. Such feelings definitely contradict the majority of students in my upcoming graduation class, as well as my own lack of confidence in the job market. Why were they so optimistic about our economy, and conversely, why do I feel opposite? Immediately I began to research and reflect on the event, and although there is no one answer as to why certain individuals remain positive in such a downturn, there are, however, solid reasons why young professionals should remain optimistic- especially in the Seattle area.

If you venture to read through any recent articles, you will see headlines such as these gashing through the pages-Unemployment on the Rise, Obama is a Failure on the Economy, Banks Keep Rates on Hold as Economy Flags. It seems as if low consumer confidence and a stagnant labor market is all that encompasses a once prosperous nation. Quantitative easing by the Federal Reserve (the Fed purchasing U.S. Treasury securities) failed to turn around our economy and give jobs to the 7 million people that lost them. So why did these young professionals have only positive words to say, and encouragement to give?

In the eyes of these emerging leaders, Seattle remains unique for its combination of diverse high-tech sectors, cultural life, access to natural terrain, and strong university presence. The University of Washington alone employs almost 30,000 staff, with annual revenue of almost 4 billion. The Aerospace industry is a key growing industry because of Boeings presence, employing 82,000 people (7,000 engineers) statewide, with annual revenues of 32 billion. Moreover, companies such as Microsoft, Amazon and Real Networks generate annual revenues of $13.6 billion and account for a total of 186,800 ICT jobs. Seattle is also home to a plethora of fields, some include healthcare, marine technology, wineries and the defense department- all generating opportunities for young professionals to tap into.

Young Professional Networks connects more than 600 future leaders in the Seattle area, and has no membership requirements except to be active and passionate about business. The people I met were far more than passionate and active; they carried a sense of pride in their work and confidence in the future. I now realize how imperative it is that all upcoming graduates and current young professionals retain a sense of optimism- as it will secure lasting bonds with other professionals, increase opportunities, and ensure emotional stability in this volatile age.

http://www.seattle.gov/oir/datasheet/economy.htm

http://www.youngprofessionalsofseattle.com/yp/index.asp

Avoid These Ten Common Legal Pitfalls for Women Business Owners

noreply@blogger.com (King County WBC) — Thu, 07 Jul 2011 18:35:00 +0000

Renea I. Saade

The number of women owning business is on the rise. According to the 2007 U.S. Economic Census, women-owned businesses grew by nearly 20% nationally from 1997 through 2002, while overall business growth was only about seven percent.

However, women-owned businesses are still failing at an alarming rate. According to an August 2010 report issued by the SBA’s Office of Advocacy in collaboration with the National Women’s Business Council and the U.S. Census Bureau, the average four-year survival rate for women owned business was 66%. In other words, 34% of women owned business fail within their first four years. Male owned businesses have a higher rate of survival with a reported success rate of 72%.

There are, of course, a number of theories and reports that attempt to explain the reasons for this high rate of failure and the discrepancies in success rates between the genders. In general, the most common challenges blamed are: difficulties accessing capital and credit; gender bias; and the often present dual-role that women must juggle as business owners and primary caregivers to their children and/or aging family members.

According to the US Women's Chamber of Commerce, women-owned businesses have not captured a fair share of federal and corporate contracts, accounting for just 3.4% of federal contracting dollars, for example. While willing and able to supply corporations with goods and services, women-owned businesses are often pigeonholed in diversity programs and not considered as mainstream sources.

Another significant contributing factor to the failure of women-owned businesses is that they are commonly caught off guard by a number of legal pitfalls that could have easily been avoided with a little foresight and planning.

Of course, all business owners are encouraged to consult with a trusted legal advisor to adequately review the legal issues and needs specific to their business since each business is unique and the laws applicable to the business vary by state and industry. But, in general here are ten common legal pitfalls:

Selecting Wrong Corporate Entity. There are many choices for creating a corporate entity such as an “S Corp.”, limited liability company, limited liability partnership, general partnership, etc. The decision can have significant tax consequences and determine whether the owner will have certain legal protections from business debts or other liabilities.

Failing to Distinguish Assets & Liabilities. Most business owners start their business or keep their business afloat during lean times using their own funds. It is imperative that business owners document capital investments and address in writing how and when they will be repaid.

Misclassifying Workers. As a business begins to operate and eventually grow, an owner must make the difficult decision whether to hire employees or independent contractors. Improper classification of workers can lead to thousands of dollars in wage assessments, civil fines, and disbarment from government programs.

Overlooking Intellectual Property. To avoid unpleasant events, a business owner should determine the availability of a proposed business name before using it, immediate register a name once it is chosen, and use non-disclosure and confidentiality agreements to protect its intellectual property.

Not Using/Enforcing Non-Competes. These types of legal agreements are critical for the same reasons non-disclosure and confidentiality agreements are critical.

Failing To Implement Appropriate Vendor & Client Contracts. Despite everyone’s familiarity with the advice, “get it in writing,” many business owners fail to implement written vendor and client contracts or ensure that the contracts they do use have all the necessary terms.

Hiring Friends/Family. Hiring friends and family or appointing them to serve on their board of directors can be very advantageous for some business owners. Appointments to officer or board positions must be for substantive reasons and not just in name only.

Being Caught Off Guard When Conflict Arises With Partner/Investor. Like any relationship, one with a partner or investor has its ups and downs and can unexpectedly come to an end. Having a well documented relationship that plans ahead for the “what ifs” that inevitably arise will better enable a business owner to continue to operate despite the termination or change of one of these relationships.

Not Negotiating Commercial Leases. Most business owners view the search for a commercial space as positive as a trip to the dentist. Don’t forget that it is still a renter’s market. Negotiate.

Failing To Plan For Collection Matters. Cash flow problems can kill the best businesses. Owners are wise to ensure their transactions are well documented and establish a plan for taking non-paying customers to small claims court or for working with a collection agency.

By taking steps to avoid, or at least plan for these legal pitfalls, women business owners can continue to blaze the trail ahead.

10 Tips on How to Research Your Competition

noreply@blogger.com (King County WBC) — Tue, 17 May 2011 19:58:00 +0000

Darren Dahl

Keeping tabs on your competition is a great strategy for growing your business. Follow these tips, from fellow small business owners, on which tools are best and how to get started.

Competitors. Whether you want to admit it or not, they're out there and they're hungry for your customers. While it might seem unfair given everything else you need to keep on top of in building up your business, you might want to consider devoting the time and energy into keeping tabs on your competition. "By monitoring competitors on an on-going basis you get to know their behavior and so can start to anticipate what they will be likely to do next," says Arthur Weiss, managing director of UK-based Aware, which helps businesses gain competitive intelligence. "You can then plan your own strategies so that you keep your customers and win (not steal) customers away from competitors." In other words, keeping tabs on your competition is a great strategy for growing your business.

The good news is that while hiring someone like Weiss can save you or your employees from spending the time to conduct research on your competitors, you can also employ several techniques to get the job done virtually for free. Here are 10 tips from entrepreneurs and small business owners on how you can start gathering information on your competitors.

1. Go beyond a google search. There's no doubt that any research project these days should begin with a simple Google search or visiting your competitor's web page. But there are also a variety of tools either supplied by Google or that relate to Google's search results and AdWords campaigns that might give you interesting insights into your competition. For example, Sheel Mohnot of FeeFighters, a comparison shopping website for credit card processing, says he uses the following tools to keep an eye on his competition:

• SpyFu: "A great resource to research what keywords and Adwords our competitors are buying," says Mohnot.
• Google Trends: For Mohnot, it's helpful when he wants "to stay on top of the latest in [his] industry, comparing [his company] to others, and seeing where people who come to [his] site go."
• Google Alerts: "We keep alerts for ourselves but also for all of our competitors to know what they are up to," says Mohnot. (P.S. Don't forget to set up an alert on your own company to see if anyone else is talking about you.)

2. Do some reporting. There are great and inexpensive resources for checking up on your competitors online and offline. "I recommend routinely tracking what the industry analyst firms like Gartner are reporting about your industry, as well as trade associations and advocacy groups," says Becky Sheetz-Runkle, author of Sun Tzu for Women: The Art of War for Winning in Business. "These organizations are doing research and studies that evaluate the people who are and should be your competitors. What are they telling you about where the industry is trending? Where are the unmet market needs that you can fill?"

Other resources you can use to dig up information on your competitors include: Alexa, Compete, Keyword Spy, Hoovers, and ReferenceUSA.

3. Tap the social network. Of course, given how companies are increasingly using social networking sites like Facebook, LinkedIn, and Twitter as marketing outlets these days, you might be able to pick up interesting facts about your competition—and maybe even your own company—just by tuning in. "We find that monitoring tweets, Facebook posts, blogs, and other new media mentions of our competition is an easy, cost-effective way to stay in tune with and in the know about the public's sentiment about our competitors," says Michael Meschures, the president of Spaphile.com, a weekly deals site that shares high-end spa and beauty offers. "In a similar vein, we track our competition by keeping a very close eye on review sites, such as Yelp and Citysearch. We scour through reviews to find mentions of our competitors' deals, and then target that particular Yelper or Citysearcher's other favorite businesses so we're always one step ahead of the competition." Even if your competition isn't social media savvy, it's a good bet that they produce newsletters—either e-mail or print varieties—that you can sign up for to get the latest and greatest news and updates on things like new products or services they are introducing and what events they might be attending.

4. Ask your customers. When it comes to identifying sources of information about your competition, don't skip over the obvious ones—like your customers. "Speaking to customers is one of the best (and cheapest) ways of gathering real information on competitors," says Weiss. "Whenever you win a new customer, find out who they used before, and why they switched to you (i.e. The reason they were dissatisfied with their previous supplier). Do the same when you lose a customer—identify what they preferred about your competitor. If you gather enough of these stories you'll get a very clear idea on what competitors are offering that customers view as preferable. You can then adjust your own offering to beat that of the competitor."

5. Attend a conference. Attending industry trade shows and conferences—as well as joining industry associations—can be a great way to learn about who your competitors are and what they're offering, says Amy Lewandowski, who heads up marketing at online retailer, PepWear. "We attend these conventions anyway so we make sure to visit competitors' booths while we are there and observe their interactions with customers, pick up literature, and check out the quality of their products," she says. "I am always shocked that most of them never visit our booth."

6. Check in with your suppliers. If you work in an industry where you share the same suppliers as your competitors, it could pay to ask them some simple questions. "Talk to your suppliers and spend time getting to know them," says Zach Berning, co-owner of Overland Gourmet. "While they may not tell you what your competition ordered or their volume, ask better questions." For example, if you ask them how many units of a certain product have been pre-ordered for the next month, you might find out not only what your competition might have ordered, but what other products your supplier might be bringing in as a result.

7. Hire your competition… Another strategy is to hire employees from competing firms—especially sales people—and team up with competitors' partners, suggests Sheetz-Runkle. "No one knows more about the inside of those organizations than the employees," she says. "Find out all that you can about how these companies operate, and more importantly, what's on the horizon for them? Where are they taking their business? What markets are they venturing into? How are they leveraging innovation to cut costs and advance productivity? Where is the highest level of dissatisfaction with their products or services? No one has more and better intelligence when it comes to sales than disgruntled sales people."

8. ...And watch who they're hiring. You can also learn something by studying the kinds of jobs your competitors are looking to fill, says David B. Wright, the chief marketing officer at W3 Group in Atlanta. "For example, if a company is hiring a programmer, they will include information about exactly what technologies the candidates need to know, which tells you what they use," he says. "Also look at what positions they are hiring—if they're looking for a patent attorney, they could be working on some big new inventions. If they're hiring for several HR, they may be preparing to expand overall."

9. Conduct a survey. If you're interested in getting a comprehensive report of all the players in your industry, you might consider conducting a survey. "A year or so ago, I hired someone to e-mail several of our competitors and ask them the same questions about their services," says Jeff Huckaby, CEO of RackAid, an IT management business in Jacksonville, Florida. "We looked at price, response time, how the sales request was handled, etc. By doing this, we learned how to clearly differentiate our sales process from that of our competition." While Huckaby says he learned a lot from the process and plans on doing it again, he does have one caveat: "I am a big fan of outsourcing this. You don't want to run into someone you were spying on at an industry conference."

10. Call 'em up! Once you have done enough research to identify who your competitors are, you might want to try an old school tactic to take it from there: Just call them up and ask away. "One of the best ways to research competition is to call them and ask whatever you'd like," says Jordan Harbinger, the co-founder of The Art of Charm. "You'd be surprised how often companies will tell you everything you'd like to learn over the phone, especially if the question is phrased in a context that makes sense. For example, if you want to know how many people work there, you can say: 'I'm looking for individualized attention, and my fear is that your organization is too large, and I'll get lost in the shuffle. How many coaches do you have on staff? Oh, wow, that's quite a few. How much support staff do you need for a team that size?' This approach has served me very well."

4 Essential Way to Attract Investors

noreply@blogger.com (King County WBC) — Tue, 03 May 2011 21:52:00 +0000

Doug Collom

(Editor’s note: Doug Collom is vice dean and an adjunct lecturer on venture capital and entrepreneurship for Wharton San Francisco. He submitted this story to VentureBeat.)

There really isn’t a one-size-fits-all formula that can be followed for optimizing the chances of attracting professional investment. Each company is different and faces challenges and issues that can be overcome only through creativity, perseverance and resolve.
There are, however, some elements that are so basic they cannot be ignored. Most institutional venture investors either expressly or intuitively address these requirements whenever they evaluate a business plan for a potential investment. Here are four to be especially aware of.

Is it a company or is it a product? – With the dramatic level of innovation that’s taking place through startups in the social media/Web 2.0/online business arena, this question is increasingly important. Implicitly, investors want to know the product development – something that can go in a variety of directions. For example, can the product be developed to include additional features and functionality that will effectively redefine the offering in the eyes of the customer? Can the product be adapted to address the needs of more than a single vertical market? Is the product so compelling that the emphasis in the business plan shifts to the customer acquisition strategy?

The mobile application market is a good example of a product category that, in general, doesn’t offer a sufficient foundation to support a company. Individual app developers typically don’t require much capital or labor to be successful, and they don’t require professional investors. In contrast, there are online gaming companies—Zynga, Playdom, Social Gaming Network and others—whose product roadmaps concentrate entirely on the rapid development and production of new “hits”. Businesses like this require all the resources and disciplines of a full-fledged company to support their growth objectives.

How big does the market have to be to attract investment? – After the dot-com bust, the anecdotal answer to this question was $1 billion - or at least an annual growth rate that would get you close to $1 billion quickly.

In 2011, there is far more latitude, depending on the business plan of the company. With the advent of open source software, online development tools, cloud computing, and the ability to reach massive customer markets instantly through the Internet, startup companies have become much more efficient in product development and customer acquisition, and can more rapidly get to proof of concept and positive cash flow than ever before.

As a result, companies with online business models, for example, may not require nearly as much capital as they once did. Moreover, angel groups aren’t swinging for the fences the way the mainstream institutional VC firms do. Instead, (to continue the metaphor) they’re frequently only looking to hit singles and doubles, and may be quite content to realize exits in the range of $10-$100 million.

Is prior management-level experience required? – Obviously, it doesn’t hurt. In particularly tough times, prior executive experience in managing a VC-backed startup may be a non-waivable requisite. Management experience of any kind is always a positive factor, since it directly relates to the credibility of the management team in the eyes of the investor.

Obviously, there are many amazing startup companies that have been built by founders with no previous experience, and lacking this experience should not deter an entrepreneur who believes he or she can build a great company. There are effective ways to work around the experience issue if it is an impediment to getting an invitation to present before a VC firm. Teaming up with a co-founder who does bring the necessary experience, finding a mentor who carries personal credibility, or organizing a board of advisors with relevant experience and expertise are all ways of addressing the issue.

Do you need to have customers or even first revenue? – There is a lot of dialogue around the need to “bootstrap” early stage companies to the point where a product has been developed and commercially released. This is particularly true of social media, gaming and other online business companies. In seeking to access professional capital, it comes down to supply and demand. Professional investors will look to tangible indicators of success and validation of the business model in evaluating a company’s prospects.

These might include website traffic, conversion rates, your ability to launch a beta and more. Without anything but an idea to show, very few companies get funded to any meaningful degree.

For more traditional “brick and mortar” companies, the ability to get to “proof of concept” through bootstrapping methods is much more difficult. It is also likely that the amount of all-in professional capital necessary to support a company in this category to an acceptable exit—including the amount of so-called “seed stage” funding—is substantially higher than for a social media or gaming company, for example. As a result, there may be a lower expectation that founders will be able to bootstrap to get to professional funding, but the emphasis will be commensurately higher on the other investment basics, including size of the market, likely market impact of the technology, barriers to entry, credibility of the management team and the like. As a result, the bar to funding for companies in this category is fundamentally as high.

11 Things You Need To Know About Writing A Winning Press Release

noreply@blogger.com (King County WBC) — Fri, 11 Feb 2011 18:39:00 +0000

1. What is a press release? The purpose of the press release is to connect with the media. In fact, the press release is the expected first communication with a media outlet. Perhaps you are looking for a story, interview, or a TV appearance – the press release is the right place to start. [1]

2. Why do I need a press release? Press provides a third-person credibility not obtainable through paid advertising. Editor-approved information is said to have 10 times the impact of traditional, paid advertising. [2]

3. Where do I start? What’s the most important thing that determines if your press release will get picked up or tossed in the trash? The headline. It should be both captivating and informative. Spend 50% of the time you set aside for writing your press release on the headline. Headlines are written in bold and typically use a slightly larger font, such as 14pt.

Here’s an example of crafting a compelling headline:

Don’t write: Bikram Yoga Studio Opens in Belltown
Instead write: New Study Reveals Bikram Yoga is More Effective than Running for Weight Loss[3]

4. How long should it be? Always remember, less is more! Maximum is 2 pages, but 1 is ideal.

5. What should I write about? Include the “who, what, where, when and why” of your story. Keep it factual. Your writing should be clear, concise and ideally have a hook that is newsworthy.

6. How do I create a “hook”? A press release is a good way to emotionally connect with your market. Show the human side of your business by including direct quotes from yourself in the article. This makes it a breeze for journalists that want to publish a story about your company!

7. What about the format? Do a little research. Look at the press releases of similar companies online to get a general idea of the tone and content. Make sure that you write in 3rd person format (he/she rather than I). Include FOR IMMEDIATE RELEASE: at the top left hand side of your document. Double space your text, use a 12pt. font and include one inch margins on each side. Signal the end of the press release with three # symbols (# # #), centered directly underneath the last line of the release. This is a journalistic standard.

8. How can I increase my chances of being found on Google? Use the same key words multiple times in your press release to increase your SEO (Search Engine Optimization). Better yet, try to get this key word in the beginning of the headline.

9. When should I send it? Send it around 2 -3 pm on Wednesday, Thursday or Friday. If you send it in the morning, you risk that chance that it will be just another email. Sending it mid-afternoon ensures they already went through the morning rush and will have more time to give your press release the attention it deserves. Make sure the reporter has plenty of time to actually write a story!

10. Who do I send it to? Do your homework. Look through publications that you would like to be featured in and identify editors and reporters that have published stories related to your industry. Call or email a query first to see if they would be interested in accepting your press release. [1] If you are emailing your press release, include it in the body of the email.

You may opt to use a press release distribution company that will send your press release to a large number of journalists; however there are fees associated with using these services. Here are the rankings of the best press release distribution companies:

http://www.topseos.com/rankings-of-best-press-release-distribution-companies

11. Can I include a link to my website? YES. Forgetting to include pertinent contact information is a common mistake people make when sending out their press release. Make sure you include your name, phone number, email and URL. If you have a website, include a page on your website that has a current press release posted and available at all times.

References:

Building a News Release; www.canadaone.com
Unleash the Power of the Press, www.prworkzone.com
6 Tips to Writing Effective Press Release Headlines, http://www.creativepublic.com/writing-effective-press-release-headlines.php

noreply@blogger.com (King County WBC) — Wed, 07 Apr 2010 21:57:00 +0000

The White House has published information about the new Health Care Reform legislation and what it means to small business. The following is quoted from the White House website. For more information, please visit: http://www.whitehouse.gov/healthreform/small-business

"Six Ways Health Reform will Help Small Businesses

Small businesses want to provide health coverage for their workers, but they face extraordinary challenges in doing so, including premiums that are 18 percent higher on average than large businesses pay for the same coverage. Health reform legislation signed by the President includes a number of important benefits to help make coverage more affordable:

1. Establishes a Small Business Health Care Tax Credit to Help Small Businesses Afford the Cost of Covering Their Workers.
Status Quo: Small Businesses Face High Costs in Providing Health Insurance to Their Employees. Small businesses face higher costs and few incentives to offer health insurance coverage to employees.
Solution: A New Tax Credit Takes Effect Immediately to Help Cover Premiums Small Businesses Pay. The Small Business Health Care Tax Credit can cover up to 35 percent of the premiums a small business pays to cover its workers. In 2014, the rate will increase to 50 percent. Learn more about the Small Business Health Care Tax Credit.

2. Creates Health Insurance Exchanges to Increase Bargaining Power and Reduce Administrative Costs
Status Quo: Small Businesses Have Little Bargaining Power, Face High Administrative Costs. Currently, small businesses face not only premiums that are 18 percent higher than large businesses pay, but also face higher administrative costs to set up and maintain a health plan. The premiums they pay have 3 to 4 times as much administrative cost built into them as plans in the large group market. They are also at a disadvantage in negotiating with insurance companies because they lack bargaining power.
Solution: Health Insurance Exchanges will Provide More Choice, Lower Prices, and Greater Bargaining Power for Firms with up to 100 Employees. Health reform will change this dynamic. Starting by 2014, firms with 100 or fewer workers will be able pool their buying power and reduce administrative costs by purchasing insurance through an exchange. According to CBO, coverage that small businesses purchased through an exchange “would have lower administrative costs, on average, than the policies those firms would buy under current law, particularly for very small firms.”

3. Ends Price Discrimination against Small Businesses with Sick Workers
Status Quo: Small Businesses with Sick Worker Face Higher Prices, Sudden Price Increases. Currently, small businesses with just one sick worker can face significantly higher premiums, and having a worker fall ill can lead to a precipitous price increase -- raising premiums just when insurance is needed most.
Solution: Ending Price Discrimination Based on Illness. Health reform will end this price discrimination. Starting in 2014, “community rating” rules will prohibit insurers from charging more to cover small businesses with sicker workers or raising rates when someone gets sick.

4. Increases Health Care Security to Unlock Entrepreneurship
Status Quo: Health Insurance Insecurity Creates “Job Lock,” which Inhibits Entrepreneurship. Our current health care system inhibits entrepreneurship and small business formation by locking workers -- especially those with families or with any sort of health problem --into jobs at large firms that offer family coverage and have a big enough risk pool to absorb the cost of covering pre-existing conditions. This “job lock” causes many workers to stay at large firms even if they would be more productive working at a small business or becoming an entrepreneur.
Solution: Health Security Empowers Entrepreneurship. By providing health security for every American and eliminating exclusions for pre-existing conditions and price discrimination against those who are sick, health reform will make it easier for small businesses to attract the best workers and easier for entrepreneurs to strike out on their own.

5. Reduces the Hidden Tax on Small Business Employees with Health Insurance
Status Quo: Hidden Tax Adds $1,000 to Every Premium. Currently, the cost of treating the uninsured adds a “hidden tax” of over $1,000 to every health care premium.
Solution: Reduce Hidden Tax by Dramatically Expanding Coverage. Health reform will significantly reduce this tax by covering an additional 32 million additional Americans by 2019.

6. Reduces Premiums in the Small Group Market.
Status Quo: Higher Premiums Mean Coverage Is Unaffordable for Small Businesses. In a recent national survey, nearly three-quarters of small businesses that did not offer benefits cited high premiums as the reason.
Solution: Health Reform Will Lower Costs, Making Coverage More Affordable. Taken together, the measures described above will significantly reduce premiums for small businesses. According to CBO, health reform will reduce the cost of a given plan in the small group market by 1-4 percent by 2016."

Source: United States White House website.