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Athena PowerLink
Deb Turpin, Chair of Kansas City Athena PowerLink Governing Body, introduced three new participants at a reception hosted by Kauffman Foundation. Women business owners who have been accepted for the program this spring are: Denise Canon, Travel Concepts, whose business, unlike many travel agencies, survived 911. Her success is built on niche marketing specializing in travel planning for events like honeymoons and family reunions. Patricia Stewart, Rockhill Pet Clinic, is a veterinarian who wishes to grow her practice with strategic marketing and HR management. Sarah Humphrey, C.S. Humphrey & Co., a millwork specialty company, is a CPA with financial skills to manage a business, but needs marketing support.
These women entrepreneurs will benefit from a year of pro bono advice and coaching from some of Kansas City's finest business experts through the ATHENAPowerLink program. This program is dedicated to giving women business owners, who want to take their business to higher level of management and profitability, the help they need by providing advisory panels of men and women currently operating highly successful business ventures.
ATHENA PowerLink supports women-owned businessess to expand profitability with support from a strategically developed advisory board of business experts serving on a pro bono basis.
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Purchasing An Existing Business
The millennium year 2000 marked a new beginning for Christine Jackson and her newly acquired nutrition mail order business, NCES, Inc. Nutritional information was in demand. Jackson then blended into the business more than twenty years of corporate management skills and a passion for health and fitness. As the new owner, this former graduate with a Bachelor of Science in Physical Education went on to “coach” NCES, Inc. to new levels of service, selection and profits! The Olathe, Kansas based NCES, Inc. is a national resource center for nutrition education. Its catalog is published twice a year and features hundreds of books, teaching aids and videos related to nutrition, exercise, eating disorders, diabetes and general health.
Learning the business was Jackson’s initial challenge. In spite of her manufacturing and operations experience, Jackson realized she couldn’t run a business alone. She needed ongoing business education and that’s when she found the Kansas Women’s Business Center. Even though she had joined several Chamber of Commerce organizations, Jackson said the most helpful program has been the KWBC’s Growth Roundtable. These weekly sessions, involving women business owners, allowed her to learn from others in a supportive environment. Jackson said information gained from the roundtable sessions helped her complete an employee handbook and performance evaluations. Input from the sessions helped her to successfully work through some technology issues. Her peers from the group encouraged her to take the course “Running a Profitable Small Business”, and as a result of the gains made to the business, Jackson was selected to participate in the ATHENA PowerLink program. Additionally, she was nominated for the “Kansas City Small Business Monthly’s 25 Under 25” business award.
“My advice to other women business owners is to seek education and knowledge you need and don’t be afraid to ask for help. Continuous education is an integral part of growing a successful business,” Jackson said. Armed with the ongoing business education she receives from the KWBC, Jackson plans to increase profits, develop new products and expand internationally.
For more information on purchasing an existing business, contact ABMI.
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There is No Free Money
DO NOT PAY ANY FEES FOR INFORMATION ABOUT SO CALLED "FREE MONEY" UNTIL YOU READ THIS.
Contrary to many infomercials, email spam, and internet site, there is no free money, or not very much and it's very hard to get.Generally promotions and promises made are just barely within the law. Information offered for sale is often available free at a library or from a credible web site.
Grants are given by philanthropic foundations or governmental units to non-profit organizations to provide programs and/or research. These grants are not easy to find, the application process is complicated, and the competition fierce.
Governmental units also offer numerous contracts and have goals for utilizing women and minority owned businesses. To qualify for such a contract, a business owner must go through a certification process.
The U.S. Small Business Administration also backs loans in some cases made by a commercial lending institution. Loans are repaid with interest just like any other loan. Borrowers also must qualify for a SBA loan.
Explore unique funding opportunities with Kim Devaney, American Funding Solutions.
Information about federal govenment grants and contracts is available at www.grants.gov. Information about state and local contracts is available on governmental unit's web site. Libraries have foundation directories for information about grants available to non-profit organizations. KCSourceLink also provides excellent informatio www.KCSourceLink.org.
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Successful Business Strategy
Denise Canon bought a home in 1987, but not for your usual reasons. She bought a home so she could run her business from home. Canon said she always has been independent, a type-A personality, and a definite first-born child. These independent traits ultimately lead her to starting her own business, Travel Concepts, Inc. “I was tired of working for someone else. I told myself to stop talking about it and just do it – own a business.” Canon said. “I assessed the risk and decided that if it failed, I could always get a job.”
Travel Concepts did not fail, it thrived. And Canon credits the KWBC for providing the tools she needed to grow her business. “Education and knowledge is so powerful,” she said. “It was a very calming feeling to know that someone could help me.” It was more than help she found; it was motivation and inspiration. Canon participates in the Growth Roundtable and said she finds tremendous support from other women business owners. “ KWBC former Executive Director, Sandy Licata, is my “pseudo” mentor. She has opened the door for so many opportunities and for direction. I also learned from her how to take on the traits of a CEO and change my mindset. I had to stop being a ‘gal pal.’ The learning process was easier though because no one there is judging you. You are free to ask questions and pursue your dreams.”
Her affiliation with the KWBC did more than allow her to dream. “My business increased from two fulltime employees to three fulltime employees, plus one part-time/flex time employee and one independent contractor! I learned how to RUN MY BUSINESS, not have it run me. I learned to delegate duties, which didn’t require my daily attention, although it was difficult to release duties that I felt only I could do. My stress level has diminished immensely due to the integration of strategic planning for the future of the business.”
“KWBC helped me be specific with goal setting and action steps. To this end, I also have engaged an accountant who organized my bookkeeping and created new systems. It was very important for me to know more detailed information regarding the overall sales, more specifically, which vendors we identified with the majority of our business. This specific information allows me to continue to negotiate commission structures, with these vendors, due to our increased and steady productivity.”
"I also engaged the services of a Human Resources specialist/consultant and was quickly educated about the overall structure needed to operate logistically. I needed to develop an employee handbook! I never realized the importance of this book, not only for the business owner, but also for the employee.”
From startup to success Canon said her expectations of entrepreneurship have changed. “I guess ignorance was bliss. Frankly, I had no idea how hard it is to be a business owner,” Canon said. “Now I expect myself to be educated on business issues because without knowledge your business remains stagnant or dies.” Canon has no plans to remain stagnant. Her goals are to continue to grow her business, develop niche markets and outsource tasks. “My revenues over the past year have increased dramatically; approximately 40 percent. I credit this to my involvement in the KWBC and the education and instruction I received through their programs and affiliated partners."
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