So You Want to Start Your Own Business? Learn from Some Pros

 One of the sessions I attended at the Governor and First Lady's Conference on Women in Long Beach this past week was "So You Want To Start Your Own Business? How To do It & Enjoy It.”  Panelists included Arianne de Bonavoisin, Author of The First 30 Days: Your Guide to Any Change, model & Project Runway host Heidi Klum, Chiqui Cartagena, Marketing executive at Meredith Hispanic Ventures and Leslie Blodgett, CEO of cosmetics company Bare Escentuals.

 A recently released study by the Center for Women's Studies, by the way,  said that women-owned business are the fastest growing segment of entrepreneurs in the US.  And, that women owned businesses are responsible for 1.9 trillion dollars worth of sales.  Here are some excerpts from the discussion.

 

On femininity and being a woman in a man's world

 Leslie

Women are more emotional.  But I still believe in sticking to your personality.  When my company was bought, I tried to change. I tried to be someone else, less like myself, as I tried to fit in with the new investors. And, everything started to fail. I made big mistakes. Stick to your personality.

 

Chiqui

I think it's important to have the right touch, whether you are talking to the janitor or the president.  You have to change the way you approach and communicate with people depending on the person at hand.

 

Arianne

Be authentic and true to who you really are - even if it means putting your heart on the table.

 

General Advice 

Heidi

I believe in learning on the job and being fearless.  Forget the word "no". Simply move around it.  Also, you need to be a nag.  I was told "no" so many times early in my career.  I was a catalog model.  And all I heard over and over was "You can't have a meeting with Sports Illustrated.  You aren't that kind of model.  You can't meet with the people at Victoria's Secret.  You don't have the right body." I just kept nagging and nagging and would not take no for an answer and eventually I got those meetings.

 

Leslie

One of the best things I do is keep a bedside file of "happy" emails - nice notes and letters my customers and others have sent me.  When I get into the spirit of "I can't do it!” I pull these out and read them before bed.

 

Arianne

When I left the business world, and decided to write a book about how to handle change and become and entrepreneur, my biggest opponent was myself.  It wasn't others telling me "you can't do it" but rather myself.  So, my biggest challenge is fighting that internal voice, fighting my own demon.

 

Leslie

Surround yourself with people who aren't like you, people who not only have a different skill set, but who have qualities that you don't.  When I first started, I hired my friends. We had a ball, we laughed a lot and had a beer together at the end of the day.  It wasn't smart.  We wasted a lot of time and I needed people who complimented me and had skills that I did not - like a strong sense of finance.

 

Arianne

Yes, I agree. Don't hire your friends.  And don't give up power to the wrong people. Also, don't forget to listen to your own internal voice - your instinct.  When I first wrote the book, I gave it to a publisher even though I had some doubts.  I got the book back and it was all wrong. I gave it to the right publisher and it worked out great. But the first time, I didn't listen to myself. 

 

Leslie

I also find it helpful to write down on a piece of paper things like what do you believe in?   Respect and kindness?  What is important to you? What is your goal? And then what I do is when I have to make an important decision I refer back to it.  It keeps me sticking to what I know is right and my ideals.  Also, I always sleep on a big decision.

 

Tips for having a successful business 

Arianne

I think finding a way to take pain away from people is key.  Any business connected to this idea is a good one.  And, we need to help people accept change and stop them from thinking change is bad.  Change is part of life and think about it, from any change, something good will come. 

 

Chiqui

850,000 Latinas turn 18-years-old each year and Hispanics make up 50-percent of the population growth here in the US.  They are the economic backbone of this country. So, I say, focus on this.  What is your marketing strategy for Hispanics?  Don't assume all Latinos are the same, by the way.  That is a mistake in marketing.  Look at California; we have Latinos from Honduras, Mexico, and El Salvador.  They are all different.

 

Starting a business - good time or bad time?

 

Chiqui

It is a perfect time to start a business if you have a good idea and you are passionate about it.

 

Leslie

This country is always ready for innovation.

 

Arianne

In times of crisis, like now with what is going on in the economy, people's traits become exaggerated.  Whatever their key emotion is, it becomes more pronounced. It can be fear or emotion or anxiety or whatever. So I say take that emotion and channel it into a creative idea.

 

Chiqui

Women are incredibly capable.  Who was the better dancer, Fred Astaire or Ginger Rogers?  Well it was Ginger Rogers of course!  She had to do it backwards!  Don't underestimate yourself.

 

Comments

[Nicole]

Hi Linda!!! This column could not be more timely. Please check out my blog (website coming soon). I am well underway with my own business and I LOVE all of the suggestions you share above. I am 100% open to taking my business on the road so if you know anyone in LA in desperate need of some OM Home please let me know.

XOXOX
Nicole

[linda grasso]

Hey Nicole -
I really like your "blog". What do you mean you are changing to a "website"? What changes/additions will you be making? I'm curious cause it looks pretty good & sufficient as it is. And your blog is www.omhome.com - right? (you need to spell that out girl!
xoxoxo