The Women Entrepreneurs Blog @ Simon

Love, Work, and Money

by Alyssa Gruber

What I believe makes entrepreneurs so special is their ability to pursue a passion. Whether that passion revolves around a particular talent of their own or is directed toward improving the quality of life for others, it takes a tremendous amount of courage, confidence, and determination to follow a dream and turn it into a career.

It seems that people driven solely by money rarely find true happiness. Sure, they may become wealthy if they work hard enough, but ultimately there’s little satisfaction in financial success devoid of meaning, especially if the job’s not enjoyable to begin with.

Those who realize that doing something they love and are good at is more important than being rich will most likely come out on top. Success lies in passion, and fortune accompanies fulfillment.

Here are some inspirational quotes on entrepreneurship:

I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful - Warren Buffet, investor and billionaire

I never perfected an invention that I did not think about in terms of the service it might give others... I find out what the world needs, then I proceed to invent - Thomas Edison, inventor and scientist

The entrepreneur in us sees opportunities everywhere we look, but many people see only problems everywhere they look. The entrepreneur in us is more concerned with discriminating between opportunities than he or she is with failing to see the opportunities - Michael Gerber, author, entrepreneur

Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma - which is living with the results of other people’s thinking. Don’t let the noise of other’s opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary -Steve Jobs, co-founder of Apple and Pixar

My Impression of First Impressions

by Alyssa Gruber

School began in July, and I have since completed two classes and almost thirteen days of orientation. (MS Marketing and Finance students were required to attend a separate summer orientation along with the standard two-week session for the MBAs in the fall.)

Much of orientation was run by the CMC (Career Management Center) staff, who provided my classmates and I with a great deal of information and knowledge regarding various career paths as they relate to our individual likes, skills, and personality types. As for as the job search itself, we learned techniques for formatting resumes, drafting cover letters, and communicating during interviews.

The detail and thoroughness of these career classes opened my eyes to the number of factors associated with peoples’ capacity to survive and thrive in the business world. It’s scary to think of how a single grammatical error in an email to a potential employer could cost a person a job opportunity.

A topic that was highly emphasized and particularly caught my attention was on the importance of first impressions. Like it or not, first impressions are real, and they are often used in making assessments about others.

According to Malcolm Gladwell, author of Blink: The Power of Thinking Without Thinking, the human brain takes two seconds to form an opinion of someone. He explains, “Snap judgments are, first of all, enormously quick: they rely on the thinnest slices of experience … they are also unconscious.” (p. 50)

That’s a nice little fact, but why bother teaching us about what’s beyond our control? To induce paranoia and self-doubt?

Studies done on the role of first impressions in the work place offer insight for ways to maximize one’s image in order to be attractively perceived.

Be punctual, have a firm handshake, make eye contact, and show interest. But politeness and tact only go so far.

Appearance is probably the largest contributor to the first impression process.

So, I guess all I have to do is dress well for people to like me, right?

Unfortunately, it’s not that simple. Dressing “well” falls under a broad spectrum, dependent on peoples’ preferences. However, business attire is relatively consistent, and wearing appropriate clothing for formal meetings is not easy to mess up.

I’m left with the assumption that physical features mainly influence first impressions, and since impressionistic judgments are generally subconscious, there’s not a lot that people can do to change them.

While first impressions may sometimes yield accurate judgments, people must realize that they can be misleading and hurtful as well.

Here are my views on how to deal with first impressions:

• Don’t focus on conforming strictly to the norm, and realize that you can’t impress everyone.  Be yourself, and understand that many people who count will like you and accept you for who you are.
  
• Rejection sucks, but a bad attitude is worse. Understand that people have their reasons for not wanting to establish a relationship with you, whatever those reasons may be. Let it go and move on. You know yourself better than anyone does, and as long as you take pride in your own accomplishments and aptitude, don’t get caught up in what a random stranger thinks of you based on a single encounter.
  
• Always keep an open mind. Whether you are looking to hire an employee or pick team members, remember to give them the benefit of the doubt. There’s more to a person than what meets the eye, and in some cases, the most amazing qualities of all can only be revealed through patience and time. The biggest treasures may be buried the deepest!
  
• A first impression is only a brief indicator of one’s personality and virtues. Stuff happens, and bad days are inevitable. A lousy first impression is no excuse for demonstrating second-rate behavior. Treat others as you wish to be treated.

Success is Where You Make it

by Alyssa Gruber

Not all entrepreneurs need particular skills or talents. Often the most successful startups emanate from one’s ability to recognize what it is that the market needs or wants, and sometimes the best ideas are the most obvious.

Think about your reasons for building a business. If your motives are primarily self-serving, you may not be cut out for prosperity. You are already focusing on the wrong market. Instead of approaching your business strategy with a “what’s in it for me?” mindset, first ask yourself what’s in it for your customers. They are largely responsible for the outcome of your business; your success is determined by their purchasing decisions and willingness to spend. 

If owning a company is your dream, but creativity is not your strong suit and you are struggling conjuring up a business idea, skip that step. Move onto choosing the location of your business. Many business-bred entrepreneurs look for what’s popular in a city, suburb, or neighborhood and draw on it.

Cycling, for instance, is a rising sport in upstate New York. Numerous clubs, teams, and organized events have banded together bikers, exposing them to the rich topography, scenery, and culture the region has to offer.

Based on the population’s notable interest in this activity, the founders of Full Moon Vista Bike Shop perceived a business opportunity, and they set up the store in an area where no other bike shops existed.

Tennis players are another group of consumers to watch. Originally known for it’s high quality tennis courts, Midtown Athletic Club was recently renovated, and its upgraded amenities and additions have generated major buzz around Rochester. The sharp increase in membership fees implemented in summer 2009 hasn’t seemed to be much of a deterrent for their customers, which implies the board hit the nail on the head in identifying the desires of it’s intended target market.

Capitalize on Midtown’s growth and thriving business plan, and open a nearby store that appeals to it’s carefully selected demographic. A specialty racket shop or athletic store would be prime examples of businesses destined to flourish.

A city’s natural resources are grounds for new business ideas as well. Say that I just finished my MBA with a concentration in entrepreneurship. I am brainstorming business ideas and contemplating starting my own company. Rather than succumbing to my entrepreneurial writer’s block, I decide to research various cities and their business climates. 

Let’s stick to the Rochester example. I educate myself on the geography, history and business climate of the city, and I find a major selling point to be the three bodies of water that run through it. There appears to be major opportunities for development and growth along the Genesee River, Lake Ontario, and the Erie Canal. Perhaps a canoe and kayak business or amphibious tour company (like Ducktours in Boston) would not only prosper, but also attract clientele and tourists and help spur economic growth in the recreation and tourism sector.

Spotlight on Entrepreneurs: Kristine Iannazzi

by Alyssa Gruber

Want to know the secret to start-up success?

We all do, which is why the Women Entrepreneurs Blog is launching a series of video casts that provide exclusive information, tips, and stories about everything entrepreneurial!

Each episode will feature a different female business owner in the Rochester area, so be sure to check the site often for new footage and material.

In the first on-site interview, Kristine Iannazzi, founder and CEO of Embrasse-Moi, gives juicy details about the benefits, challenges, and work associated with starting and owning a business.

Kristine describes Embrasse-Moi as an “all inclusive lingerie experience,” with customer service at the forefront of her business strategy for sales and growth.

“We wanted to have the customer service aspect with the personalized bra fittings, the personal shopping, and then also offer that really nice atmosphere so that a woman feels really special and important when she walks in,” Iannazzi explains about her company's competitive positioning. 

An FIT grad and fashion designer at heart, Kristine reveals that an underlying goal of opening the store stems from a desire to launch her unique lingerie line. Her innate sense of entrepreneurship is apparent, for her business angle focuses on tapping into an unfilled market of women with fuller cup sizes.

Kristine's advice on undertaking a venture? Create a business plan! She structured her proposal by preparing, researching, and becoming totally informed about every aspect of the lingerie industry.

"That really helped me to feel confident when I opened my doors," confesses Iannazzi. "I had a game plan of what was going to be going on."

And it looks like her hard work and planning is paying off! Halfway through its first year of operation, Embrasse-Moi is on track to significantly exceed predicted sales.

Congrats, Kristine, and best of luck with your future endeavors! You are truly an inspiration to me and other entrepreneurs, near and far. Thanks so much for sharing your story!

Tip of the Week: Travel

posts by Alyssa Gruber

You need a vacation when...

You are overwhelmed with work and are at a standstill.
As hard as it is to relax at  this point, you’ll never know where or how to start if your brain is clouded with chaos. Forcing yourself to become mentally organized is a waste of time and energy. Extra frustration, stress, and pressure will only set you back  further. Try focusing your attention on what you can control, and plan a short getaway to your place of choice. For many, spending a day at the spa is a great way to unwind and refresh. Others may find relief by engaging in a more distracting and adventurous activity. How about whitewater rafting or a  parachute jump for a daycation?

You are stuck in a rut.
Sometimes, people are so accustomed to their ways and day-to-day routine that they fail to maintain focus on their job objective. Certainly, creativity gets consumed by drudgery. Repetitive patterns are restrictive and  confining; if there is not enough freedom within the job, there is always freedom on the road. Take a break. Veering outside the lines and to traveling for a week or two may send you back to work redirected and re- inspired.

There is no one formula for success and achievement, but we do know successful people know how to play as well as they work. Everyone "just needs a vacation" now and then. Recognize it and use it to refuel and renew. Your business will thank you for it!

Networking: How Far is Too Far?

“It’s all about networking,” or so I’ve heard.

...Doesn’t sound like too difficult of a task, especially with the help of the Internet and its virtually boundless capacity. By now, we are more than aware of the extent of its content and deliverables; from news articles to weather forecasts, novels to dictionaries, music to movies, and cars to real estate. Information is abundant, no matter the subject, and any product on the market is easily obtainable, regardless of its alleged scarcity.

Access to these commodities is practically ubiquitous, and with the growing number of social networking sites, the distinction between individuals and commodities is starting to blur. Company websites supply information about products, and networking sites provide that same function about people.

As technology pushes forward, where do we draw the line, and how do we prevent ourselves from crossing it? People are the driving force behind technology – but where are we trying to go?

For years, cell phones have connected us on the move and email has linked us online while stationed at computers; it wasn’t long ago that these two methods of communication conjoined in the form of PDAs and smart phones. There’s no escaping from the Internet – you literally carry it in your purse. 

Do we have to be in contact with people 24/7, and is absolute availability really necessary? Are daily details of an individual’s routine, schedule or whereabouts to be considered on the same plane as specs for the new laptop you’re contemplating on Amazon?

So quickly have we become consumed in the power of this fast-paced medium that we forget to stop, look at ourselves and those around us, and realize that we still need to come up for air. Everyday, walls are broken down as our personal lives transform into a sequence of bytes and pixels for the world to see.

Procuring that hard-to-find first edition Batman comic is one thing; tracking down the president of Google or stalking a celebrity crush is another. Be gentle- we are dealing with human beings, not toys or comic books! The fact that we are as accessible as objects does not give us license to treat each other as such.

Don’t get me wrong, I am not against social networking. It's fun and beneficial. Networking and relationship building are common goals in the business world, and networking sites support and aid numerous business objectives.

Additionally, entrepreneurs require a means to sell themselves as well as their product, and platforms such as Facebook, LinkedIn, and Twitter can promote their branding process. Online applications offer an inexpensive, convenient, and efficient solution for reaching and communicating with consumers.

Use networking sites to your advantage, but as with any tool, exercise common sense and moderation.

Some basic standards to think about:

• Be honest about yourself, your experience, and your capabilities. Do not use the computer as a façade to hide behind. (Pretending can be simple when not looking your contact in the eye.) Each one of us is unique, and for what it’s worth, there's a real, live person on the corresponding compu-pd-smart-book-techno-lytic devise (or whatever the gadget’s called when you’re reading this) who probably appreciates sincerity.

• Don't underestimate the strength of exhibiting respect and courteous behavior. When sending a friendship invitation or message, be careful not to come off as opportunistic, even if your purpose is self-serving. Play it cool. 8-)

• Ppl are busy. 2 many emails 4 long responses 2 every1. Don't be offended. Also remember that not everyone wants to talk to everyone all the time, so refrain from acting overly aggressive. (*note the away message*)

• Ignore gossip – not everything you read online is true, and avoid engaging in chatter – malicious or innocent, rumors can hurt others and will ultimately disrupt your credibility.

• Networking is not only about numbers. In relationship building, quality can be just as, or more, important than quantity. Show people that you value them, and they will likely reciprocate. This may involve signing offline and convening in the flesh; computer conversations can dilute intimacy.

The Internet enables us to accomplish many things once deemed impossible and to meet people we would have never had the opportunity to know otherwise. It can facilitate our success in business and in life. However, there is only so much we can achieve with it – it comes down to who the user is. On that account, be thoughtful, cautious and continue to make good choices in whatever you do and however you do it.

Make-over Your Mind, Body, and Bank Account

Flowers are blooming, birds are chirping, and the sun is shining brighter day by day. Are you smiling yet? I doubt it. You’re probably rolling your eyes at the computer screen and wondering what kind of happy pills I am on.

If this is the case, you are in desperate need of a Spring makeover, so tune in to shape up!

1) Cash in on fashion: Take closet cleaning to a new level by selling the clothes you (and your family) don’t wear anymore. If you have a teenager or are a teenager yourself, I recommend visiting the nearest Plato’s Closet, a popular fashion franchise that “buys and sells brand name, gently used clothing.”

One person’s trash is another’s treasure. It sounds cliché, but consignment store owners are constantly on the lookout for unique apparel that can be recycled and reused by their customers.

Second-hand boutiques exist in virtually every city and allow for a guilt-free shopping experience. They are eco-friendly and a great way to save money. Not only will you come across unbelievable deals on designer items, but also you might be able to snag some one-of-a-kind vintage pieces that cannot be found elsewhere.

The downside? There is none! You will not leave the store empty-handed, whether you are walking out with extra cash or “free” clothes. Furthermore, waking up and choosing an outfit from a neat and roomy closet will keep you organized and in control of your life.

2) Put on your game face: In order to fully enjoy and get the most out a social event, it is important to be happy and feel good about yourself before inflicting your mood onto others. People are drawn to women with confidence and positive self-images.

So, next time you plan on attending a party, going out for dinner, or spending a night on the town and are desperate for a quick fix-me-up, set aside a few hours on the day of to prepare appropriately. Shower and do your hair and nails. Then grab a girlfriend, drive to a department store at the mall, and head straight to your favorite cosmetic counter.

Tell the make-up specialist you are interested in revamping your look, and ask her for guidance in doing so. Testing products on your skin, she will use her expertise and talent to work with you until your desired appearance is achieved.

While getting your make-up professionally done at the mall is a cheap way to look and feel fantastic, it could potentially cause a problem for the babe on a budget. You are not required to purchase anything, but you will love the results and might have trouble resisting the urge to buy. Personally, I am more inclined and willing to spend money when I am gratified, and trust me, those make-up artists know how to please!

3) Shift gears and pass on the gas: Take advantage of a free ride, and weather permitting, walk or bike to work instead of driving. You do not have to pay for gas, and you will never be stuck in traffic.

Walking or biking to work is beneficial for your body and mind as well. Exercising releases endorphins and is a terrific motivating agent and start to the day. It is also a means to relieve stress and generate blood circulation after hours of sitting in the office.

For those living far away from their place of employment, I suggest inquiring into alternative methods of transportation. You will save money and the planet by carpooling or catching a train/bus to the city. Remember to get outdoors and work out, though.

You can be even thriftier by nixing a gym membership altogether, but you already knew that.

The 2009 Hot List of Business Opportunities: Is Your Niche Here?

As an entrepreneur, where do you find inspiration for your aspirations?

It doesn’t make sense to pull an idea for a business out of thin air; it should come from your heart and mind. Consider your strengths and passions, and gear yourself towards a business that embraces those virtues. You will be happiest and most invested in a venture if it is derived from a personal interest or what you know and enjoy. Remember, you are a leader, and you have to believe in your work before anyone else can.

Here are some fresh ideas to get your creative juices flowing:

For the athlete/sports fan: High school athletics is a popular market loaded with start up opportunities. "The demographic is compelling: young, influential and impressionable with big spending power and developing brand loyalties," explains Jim Kaufman, CEO of national teen sports magazine, Rise.

According to The 2008 Hot List, high school sports-related businesses may include “injury management, transportation services, apparel, sport- and gender-specific products, recruiting, networking and more.”

Youth sports education and recreation programs such as day camps, private coaching, and specialized training services are also big hitters in the playing field. I strongly recommend situating your business in a safe and favorable location to appeal to both kids and their parents.

For the foodie: People are constantly seeking new and exciting places to dine. Satisfy their craving by opening a specialty restaurant, which revolves around one meal or specific snack. Think Tapas bar or a pie shop like on ABC’s Pushing Daisies.

Major trend alert here!!! Dessert-only restaurants have been sprouting up all over, and everyone is loving them.  How about a drive-through sushi restaurant or a healthy/vegetarian fast food restaurant? My advice is to discover an unfilled niche and focus on quality. Again, location is key.

For the musician/music junkie: What is missing in the music industry? As a musician, are there any products or services you wish were available to you? 

A piano tuning service and a singing telegram service stood out on Entrepreneur.com as unique business proposals. Custom-made, embellished guitar picks would be cool, too. Oh, and someone should definitely invent a headphone and sound proofing device that hooks up to the end of horn instruments.

Developing a web application or a social site pertaining to music is a hot start up option. What do you want to accomplish? Evaluate your mission and angle your website so that it is relevant, purposeful, and innovative. Refer to Musicovery.com (awesome idea) and MySpace Karaoke to understand what I’m talking about.

The Internet moves at fast pace, so stay current and get crackin’ – you have talent, and the world is waiting to hear your song! 

For the fashionista: Online fashion and apparel businesses that are consumer centric and eco friendly are IN this season. estToday lets “you be the designer” and categorizes outfits based on personality types. Girls can mix and match articles of clothing to create their ideal look. Interactive websites are fun, convenient, and easily accessible.

Second hand goods and discount stores are sectors poised for growth and could result in extremely profitable businesses. Spring cleaning, anyone?

Whether your business is conducted through the Internet or a store, ensuring that the customer has an enjoyable shopping experience is must. People are more likely to spend money when they feel good!

For the animal lover: Pets are like babies, and owners want to know that their babies are being cared for properly when they can’t tend to them. (Whether they are on vacation, work, etc.) Babysitting and doggy day cares are easy to establish, have low start up costs, and are worthwhile services in mostly every neighborhood or community.

There was an animal shelter, near my college, that employed dog leasing company, and it was actually quite successful. It gave dogs and humans the chance to make new friends.

The pet ownership is a multi-billion dollar market, with specialty products for pets in high demand. Here are industry statistics and trends.

For the actor: Watch and learn from Ann Gray Graf’s starring performance as actress turned entrepreneur. Graf combined her education, acting experience, and relationships in the entertainment business to institute “the actors garage” to teach acting. Originally comprised of a single studio, the company took off, and it wasn’t long until Graf began to franchise.

Graf’s positioning statement deserves a round of applause as well: “At the actor’s garage our objective is to not only teach children basic acting techniques for TV film and commercials, but to give them a positive self image, life skills and to inspire them to try their best at whatever they do in life. We do this through positive reinforcement in a stress-free, non-competitive environment.” She centers her business on her customers and provides them with value.

For the tech geek/computer nerd: Is html code your second language? Maybe you could launch a web design freelancing service. How about arranging virtual tour websites to showcase various hotels and resorts? Perhaps starting a company that matches thinkers and inventors with software engineers who can advance their projects would be helpful. See IdeaConnection.com. This website offers, “Two ways to get the Solutions you want”-- “Crowdsourcing for Ideas” and “Collaborative Problem Solving”.

Whatever your area of interest is, there is always room for a good business to take shape. Of course, at the heart of any new endeavor are dedication, innovation, and perseverance.

The Layoff Payoff

Have you been laid off from your job, or are you worried your position is subject to elimination?
If you answered, “Yes” to either question then you may be in luck.

For the open-minded and optimistic, an occupational “break” could be the catalyst for a rewarding, fulfilling, and exciting new career. It is time to control your fate instead of depending on employers who are caught up in their own game of survival. With a positive attitude and the will to succeed, you have the power to thrive in the recession and attain financial independence by capitalizing on your personal skills, talents, and interests.

So, fill up those half-empty glasses, ladies, because recess is over and it’s back to the drawing board! 

Word is that lousy job market conditions have already prompted laid-off workers nationwide to turn to their entrepreneurial instincts for salvation. A recent New York Times article cites this phenomenon as broached by Economists to be a natural reaction to withstand a slumping economy. Mark V. Cannice, executive director of the entrepreneurship program at the University of San Francisco, proposes that “…the large-scale downsizing from major companies will release a lot of new entrepreneurial talent and ideas — scientists, engineers, business folks now looking to do other things.” (Richtel and Wortham)

Let others’ accomplishments and stories encourage you, and check out how 29 people found their firing inspiring and profited from starting their own businesses.

Ready for more good news? There is no better period than the present to assume an entrepreneurial endeavor — even if it is recession induced. The advancement of computer technology makes everything from devising a business plan to marketing and distributing products and or services easy and affordable. 

Be sure to research thoroughly before undertaking your venture. Running a business is a big responsibility and planning is crucial for longevity and prosperity. There are countless resources and tools on the web that will help with your startup and maintenance processes.