To get the inside scoop on starting and running your own business, the HBA’s Greater Philadelphia Chapter hosted “Entrepreneurship: How Hard Can It Be?” at St. Joseph’s University in Philadelphia.
Women start their own businesses twice as often as men. To get the inside scoop on starting and running your own business, the HBA’s Greater Philadelphia Chapter hosted “Entrepreneurship: How Hard Can It Be?” at St. Joseph’s University in Philadelphia. On March 10, 2010, a panel of three successful entrepreneurs provided insights that describe their decision to pursue an innovative business idea, gain the support of others for their new venture, communicate their service offering and the challenges they faced along the way.
Donna Conroy, President of SciMar Solutions; Zoe Elliott, Owner of Zoe Digital Consulting and Daniella Koren, President of DKI all have different ways of working and personalities but they all had one thing in common – passion for their work.
Whether desire for a better quality of life, the financial incentive or just to enjoy the freedom of being your own boss, entrepreneurs looking to start their own business venture should consider these three common pieces of advice:
- Build credibility. Use your experience to demonstrate how you can add value to your industry; use mentors as sounding boards when you’re faced with unfamiliar territory.
- Network to build your business. According to Zoe Elliott, “the hardest thing about going out on your own is driving new business.” Use your personal network to start building client relationships and remember all your revenue should not come from one client.
- Be prepared for all aspects of running a business. The passion for what you do is only the beginning. Expect to endure the less fun parts of running your own business – process, paperwork, bookkeeping and yes, even dealing with rejection. In an example Daniella Koren provided, from the book The E-Myth, if you want to open a bakery, you have to know how to do more than just bake amazing pies!
Attendee Tamara Belcher learned that “women entrepreneurs take a holistic approach to building a business, mainly because they have to balance multiple roles – wife, mother, business owner. It’s a breath of fresh air to know there are other alternatives to corporate America!”
As a new business owner (Fresh Start Resumes LLC), Kate Madden is “learning to navigate through an unfamiliar and sometimes intimidating environment. It was reassuring and inspiring to hear the personal stories of the Donna, Zoe and Danielle."
While its hard work to be a successful entrepreneur, the benefits of flexibility, enjoying what you do every day and “being in charge” are worth it – it you have the motivation to take a risk and follow your gut!