Small Business

Dreams of Peace and Progress from the PA Conference for Women

 

The Pennsylvania Conference for Women is an event where professionals can enrich their lives. Women and men from all walks of life share their wisdom during the event. Speaking topics range from practical life advice and inspiring stories to the many ways we can better affect others and the world. I had the pleasure of listening to and learning from a variety powerful speakers. There was plenty of great material this year and I tweeted as much as possible from each speaking event. I have included images from my Twitter account, @EpicCareering (which you should follow). These are just snippets of the wisdom that was shared. I encourage you all to attend the PA Conference for Women next year.

 

Carli Lloyd (@CarliLloyd)

American Professional Soccer Midfielder

Carli Lloyd is a professional soccer star who has won the 2015 FIFA Women’s World Cup, and two gold medals in the 2008 and 2012 Summer Olympics.

CarliLloyd

 

 

 

Rachel Ray (@rachelray_show)

Celebrity Cook

Rachel Ray is the host of Rachel Ray, stars in three Food Network series, and has written 14 best-selling cookbooks.

rachelray

 

 

 

Leymah Gbowee (@LeymahRGbowee)

Liberian Peace Activist

Leymah Gbowee led the Women of Liberia Mass Action for Peace in 2003 that helped bring an end to the Second Liberian Civil War. She was awarded the Nobel Peace Prize in 2011.

LeymahRGBowee

 

 

Cindy Solomon (@cindysolomon)

Keynote Speaker and Strategic Consultant

Cindy Solomon has helped many Fortune 1000 companies cultivate strong leaders around the world for over 20 years. She has also written several best-selling books.

 

CindySolomon

 

 

Emily Lightfoot (@Healthcare_ABC)

Health Systems Senior Vice President of AmerisourceBergen

Emily Lightfoot leads the commercial segment for AmerisourceBergen Drug Corporation and has held leadership positions for over 13 years.

Emily Lightfoot Heathcare_ABC

 

 

 

 

Jami McKeon (@morganlewislaw)

Chair of Morgan Lewis

Jami McKeon is the Chairman of America’s Largest Firm and the first woman to hold this position in the firm’s 140-year history.

 

Jami McKeon Morganlewislaw

 

Jessica Jackley (@jessicajackley)

Entrepreneur and Investor

Jessica Jackley co-founded Kiva, the world’s first peer-to-peer micro-lending website. She served as Walt Disney Imagineering’s first Entrepreneur in Residence, and is currently an independent consultant and investor with the Collaborative Fund.

jessicajackley

 

Gretchen Rubin (@gretchenrubin)

Best-selling Author

Gretchen Rubin has authored several best-selling books that have sold more than two million copies worldwide. She started her career in law and was a clerk for Supreme Court Justice Sandra Day O’Connor before becoming a writer.

Gretchen-Rubin-Smaller-Quotes

gretchrubin01 gretchrubin02 gretchrubin03 gretchrubin04 gretchrubin05

John Jacobs (@lifeisgood)

Co-Founder of The Life is Good Company

The Life is Good Company is a positive lifestyle brand which spreads the power of optimism through art, nonprofit work, and community. John Jacobs is an artist who has been awarded honorary doctorates for entrepreneurship, business innovation, and philanthropy.

johnjacobs01 johnjacobs02 johnjacobs03

Jessica Alba (@jessicaalba)

Actress and Co-founder of The Honest Company

Jessica Alba is an award-winning actress and was nominated for a Golden Globe for her role in the TV series Dark Angel. In 2012 she co-founded The Honest Company, a consumer goods company that sells non-toxic household products.

jessicaalba

Gloria Steinem (@GloriaSteinem)

Political Activist

Gloria Steinem co-founded Ms. Magazine, and helped to found New York Magazine. She is also a documentary producer and a best-selling author. Steinem also helped to found the Women’s Action Alliance, the National Women’s Political Caucus, the Women’s Media Center, and Voters for Choice.

gloriaSteinem01gloriaSteinem02

 

gloriaSteinem03

 

 

How to fund a small business and when to launch it

Many think small business owners come out of the gate with money in hand and account payables ready to bill invoices.

d.light ! by Steve Jurvetson on Flickr

d.light ! by Steve Jurvetson on Flickr

For most small businesses, this is not the case.  For the prudent, conservative entrepreneur, launching a small business takes some considerable time.  So for those of you who are considering this, let me give you a few hints.  The classic “out of the garage” story of Apple computers or social media giant Facebook is more of the outlier then the norm. Most small business are birthed from a divisional break off from sales or consulting.  Small business owners usually have an expertise in the area of business in which they have work for several years. In fact, most small business owners will be in that profession for close to ten years before branching out on their own.

So how do they do it and where do they get the money?

If, for example, a person provides a service to clients that are specific and unique of that provider, there is an opportunity for a small business.

Many small business start by providing their product or service to a select few or high paying clients which are first to test the business model.  Being able to measure the demand for a service or product will go a long way in knowing if the business model will be able to scale.

If this can be done as a part time venture that does not compromise your day job, it would be ideal.  Having a source of income during the trial period of this new venture will allow you to make financial mistakes, which are inherited to small businesses. Once cash flow is produced and a trail client base is established, it is important to keep cost low and fixed.  In today’s virtual world this is more achievable than in the past.   Most small business can only get funding via an SBA loan, but others choose to self-fund their ventures with debt from personal credit cards, which are essentially unsecured loans. This has it own limits due to FICO scores and available money in credit lines.  Still, it remains a main source of funding for small business owners even today.

The most exciting prospects are the social funding websites or crowd funding.  INC magazine just did a review of the top 22 crowd sourcing websites for small business ventures.  We all have heard of Kickstarter, but for some this will not be doable based on the sector of the venture.  Others may choose Fundable, Earlyshares, Seedinvest, etc.  I believe these crowd funders will eventually change the public and private market going forward.

In the end, ideas and being able to produce them will always be in demand.  Working with an advisor who understand entrepreneurs will be a hugh asset in navigating the pitfalls and financial changes one faces in starting and growing a business.

The Brogan Group is a registered investment advisor which specializes in investment management for individuals and other financial intermediaries.

We believe in empowering our clients through financial education.  We educate our clients around budgeting for families and cash flow management for small companies.

We serve the full spectrum of clients in portfolio management and risk assessment to different asset classes.  We specialize in Behavioral Finance and use this as our core approach.  Allowing us to have a 360 degree approach money management

We are not your average financial advisors. We have produced a proprietary way or changing clients behavioral when it comes to money management and investing.

Our Money Memory System is our core product for clients looking to move to a great awareness their financial lives.  This with our custom client approach allows greater outcomes in reaching our clients set goals.

We are a fee based advisory who believes in our fiduciary role in putting our clients first.

The One Thing You MUST Give Up To Have A Successful Full or Part-Time Business

Man with adhesive notes in his office

 

According to a 2012 survey, 51 % of Americans would rather be self-employed and 44%  think it would be possible for them to go into business for themselves within the next five years — a figure that has increased 8 percentage points since 2009.

Despite the large number of people who want to be in charge of their career, only 6% are currently self-employed.

Why the huge discrepancy?

If so many people want the freedom and independence of being an entrepreneur, what is stopping them?

The results of the survey are fascinating.

4% can’t come up with a business idea.
15% didn’t have enough capital.
10% say they lack the necessary skills.
2% say administrative barriers hold them back.

When I read those numbers I was surprised. They don’t seem to ring true. There are millions of ideas, people who are interested in investing, and anyone can learn a new skill.

So what is the real reason so few people are entrepreneurs?
Fear.
YOU MUST GIVE THIS UP IF YOU WANT SUCCESS

The thought about something that hasn’t happened.
Old fashioned, garden variety fear.

What stops most people from being an entrepreneur, is the fear of going bankrupt or the fear of an irregular income.

When people feel that their current situation, no matter how awful it is, guarantees a steady income, it’s hard to give up that perception of security for uncertainty. (Think of all of your friends who are stuck working with rude, negative, and even nasty people. They may talk about leaving to start their own business, but where are they now? Yep. They’re still there.)

The fear of reducing income is so big that it even stops people from trying to start their business on a part-time basis even while they are employed.

Of all the classes that are taught in business school, it’s clear that a comprehensive course in getting over the fear of starting your full or part-time career is needed.

Wharton, are you listening?

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What get’s in your way of starting your full or part-time business? Share your comments below. Someone might have a great solution for you. 🙂

Wendy Merron is a Certified Hypnotherapist, Founder of The Center for Success in Wayne, PA and author of Powerful Thinking on Purpose.