SUMMERDALE - The Summerdale Public Library held the inaugural Women in Business Symposium during October. The event was for women thinking about starting a home-based business, but unsure how to …
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SUMMERDALE - The Summerdale Public Library held the inaugural Women in Business Symposium during October. The event was for women thinking about starting a home-based business, but unsure how to begin.
Six guest speakers, all women who run home-based businesses, shared their stories on the ups and downs of starting a business. Speakers for the day were Beverly Cutro, Payton Moran, Yulia Fedko, Lilli Rowland, Toni Dawson, and Sandy Evans.
“The goal of this event is to inspire hope for stay-at-home moms, single parent mothers and women who want to be self-employed,” said Evans, children’s library director and event organizer.
Getting started
So you have an idea of what business you would like to start, but what now? Moran, a money and finance coach and owner of Money With The Morans, said the first step is to ask yourself a few key questions to determine if this really is the business venture you’d like to set out on.
“It’s important to lay the mental groundwork,” she said. “I first started an online boutique and I hated it. If I had laid the mental groundwork, I would have realized very quickly that it was not something that I was passionate about, so therefore it was not going to make it long term.”
She suggested creating a business statement and a clearly defined list detailing how much you need to invest before the business is successful, obtainable goals, and priorities.
A tip for blossoming businessowners is to determine their audience, Moran said. When beginning, some owners will try to go out and meet as many prospective clients as possible, which can quickly drain them of resources and energy. It’s important to determine who the ideal clientele is for your product, Moran said. Once you know, begin marketing your business towards those clients on social media, your website, or at events.
Workspace
Another question asked when beginning a business is what type of workspace you are looking for. An online business? A booth at festivals and shows? Or perhaps both, depending on the time of year.
“I have an online business and I do festivals, and it does take a lot of time, but you have to prioritize,” said Fedko, owner of Zapah Naturals, a handcrafted bath and body products company. “In the summer we do have festivals around here, but it’s so hot and to me it’s not worth going there, so during summer I’m pushing more on my website and eBay. Right now it’s festival season and every weekend is busy. I’m off during the week, and I’m working the weekends at festivals selling my products.” Fedko posts on social media what festival she will be at each week, allowing her clients to plan a visit to her booth.
Cutro, owner of White Cat Confections, said utilizing flea markets and craft shows is a great opportunity to start a business. For beginners looking to sell arts, crafts, or baked goods, she said selling at flea markets is easy to get into - all you need is a business license, which can be purchased from your local town or city hall. Those looking to sell food or baked goods will need a special permit.
“Cottage industry can come and inspect your home to make sure it’s clean to cook products to sell out of,” Cutro said. “Or there are kitchens that people have made in commercial places like condos, you can rent a kitchen and they’re already approved so you don’t have to worry about the inspections. But try to do flea markets first to see if this is going to work for you before you start handing out money for licenses and permits.”
Earning a profit
All the speakers agreed - no matter what your passion or hobby, you have to make a profit to turn it into your livelihood. If you end up giving products away or not earning a profit, then the business will not survive.
“I’m an example of what you don’t do when you start a business,” Rowland, retired school nurse and jewelry maker, said. “When I started, I displayed a whole bunch of product at a local hair salon and I sold a lot of pieces there, but not enough to make any money at it. I ended up making jewelry for myself, and if someone likes what I do they ask me and I will make it for them.”
Pricing handmaid goods can also be a challenge.
“We knew what it would take to produce a beautiful photo and product, but we weren’t sure how the economy was going to go, so finding our price point was our biggest challenge,” said Evans, who co-owns Southern Cherished Moments Photography with her daughter, Catherine. “I think we’ve landed; whether it stays like that all depends on how the economy goes.”
Stay positive
Finding support from others in the industry is extremely important, said Dawson. She said that during her time working as a Mary Kay consultant, she has always felt like part of a team, no matter where she was living.
“Everywhere I have moved I have found a unit, I have made friends, and I have learned more,” she said. “Each director has been like the one I started with. They teach you and they take you on like one of their own. The company is here for us, it’s available to us, and there’s always lots of new ideas being shared, and that’s important.”
Evans said that she hopes to continue with more Women in Business Symposiums in the future. Visit www.summerdalelibrary.com to see upcoming events.
