Get out and #shoplocal on #SmallBizSat on 11/29! Snap a pic, tag WBDC and we’ll share it! http://ow.ly/i/7Giaw
We live in a world where women truly mean business. Women businesses have made great strides in the last decade. 60 percent of all personal wealth in the U.S. is held by women. 85 percent of all consumer purchases in the U.S. are made by women. Women over the age of 50 have a combined net worth of $19 trillion. And globally, women are responsible for $20 trillion in spending, a number that is expected to rise to $28 trillion by the end of 2014.
The U.S. Small Business Administration (SBA) through the Office of Women Business Ownership (OWBO) and Women’s Business Center programs (WBCs) has paved the way for women business owners (WBOs) to succeed in business and expand in the opportunities created from the Women’s Business Ownership Act. The 25th anniversary of the Women’s Business Ownership Act of 1988, a landmark piece of legislation that put an end to state laws that required women to have male relatives sign business loans, has also given women entrepreneurs increased access to counseling and training, capital and contracts.
Despite October being Women’s Small Business Month, the WBDC recognizes and commemorates the fact that women are a dominant driving force to economic growth and development – creating jobs with 8.6 million women-owned businesses in the U.S year round.
It was not that long ago in 1986, when less than 10% of U.S. businesses were women-owned. In the workplace, women earned only $24,479 to men’s $38,088 in annual wages. These statistics, and the lack of women in positions of power and leadership, spurred Hedy M. Ratner and Carol Dougal to create the WBDC, one of the first women’s business assistance centers in the U.S. The WBDC has grown from a two-person operation to a national leader in women’s economic development. The WBDC has grown to a staff of 32 full-time employees and consultants, a roster of expert trainers, and a powerful Board of Directors comprised of successful women business leaders from across the WBDC’s nine-state Midwest region.
But importantly, our clients, speak for what we stand for. Ninva Concepcion, owner of Little Kid n Me Daycare/ Learning Center, explains “As a woman entrepreneur, there will always be obstacles and people who try to bring you down, but for every person who doubts you, there will be three people, like Janice, Eva and I, who will encourage you to keep going, stay determined and follow your dreams!” Women like Ninva Concepcion helps to propel the mission of the WBDC, which is to provide services and programs that support and accelerate women’s business ownership and strengthen their impact on the economy.
Think of women like Hedy, Carol, Ninva and the millions of other women business owners as you build your business or make your purchasing decisions. Make every month Women in Small Business Month.
Meet the 28th Annual Entrepreneurial Woman’s Conference (EWC) 2014 Award Winners being honored at the Opening Night Reception, September 16, 2014 at the Prairie Room Hyatt McCormick Place – Chicago. Click here to learn more about EWC.
28th Annual Entrepreneur of the Year
As with every success story, Direct Steel has faced its share of challenges. Swierk founded the company in 2004 after over 16 years in construction-related sales and marketing, and real estate development and management experience. At the beginning of the recession in 2008, the demand for commercial construction declined dramatically. To keep her business viable, Swierk leveraged her certification as a Women’s Business Enterprise (WBE) to target governmental organizations and large corporations. The strategy not only kept her enterprise afloat but propelled it to even greater success. Direct Steel has completed commercial building projects for companies such as Unilock, Navistar and Intermatic. Swierk has received numerous awards for her accomplishments and business success.
28th Annual WBE of the Year
A chemist by trade, Linda left a management position at an international manufacturer of chemical and petroleum products to work for Cedar Concepts, eventually becoming its owner and president in 2004. As the country’s only African American, woman-owned chemical manufacturer, Cedar Concepts processes raw materials for use in a wide variety of personal-care, household, industrial and agricultural products marketed under many brand names familiar to both consumers and businesses. Her customers include some of the nation’s largest companies, such as Proctor & Gamble, Colgate Palmolive, Citgo Petroleum and Boeing. Under her leadership, Cedar Concepts just completed the construction of Chicago’s first ground-up, chemical manufacturing facility in more than 50 years.
28th Annual Woman Veteran Entrepreneur of the Year
An accident while serving in the U.S. Navy left Kaney ONeill a quadriplegic, paralyzed from the chest down. She set out to rebuild her future by attending Northwestern University, earning B.S. and M.A. degrees in Organizational Change and Science. When jobs did not materialize after graduation, she followed in the footsteps of several generations of her family by entering in 2007 into the roofing business. ONeill Contractors specializes in roofing, roof waterproofing, carpentry, insulation and flooring installation for corporate and government clients that have included Boeing, Northern Illinois University and the U.S. Department of Veterans Affairs. Her goal is to grow to $5 million in yearly revenues in the next five years.
The Deluxe Corporation Foundation focuses on long-term solutions that help people, businesses, and communities thrive and grow. Since 1954, the Foundation has donated nearly $100 million to charitable organizations. The Women’s Business Development Center is proud to honor Deluxe Corporation Foundation as its 28th Annual Foundation Impact Award recipient for their ongoing commitment to the advancement of women and minority-owned businesses.
Accepting the award on behalf of the Deluxe Corporation Foundation is Amanda Brinkman.
In January of 2014, Amanda was recruited to Deluxe to help tell their amazing new brand story. As a big supporter of “buying local,” Amanda was excited to help entrepreneurs focus on their passion. Actively involved in the community, Amanda serves as the Vice Chair for the Children’s Cancer Research Fund Board of Directors, on the Make-A-Wish Foundation Board and Jeremiah Program’s Circle of Influence.
The Illinois SBDC, a division of the Department of Commerce and Economic Opportunity (DCEO), is receiving the award for its leadership and guidance of the state’s small business assistance efforts. In partnership with the U. S. Small Business Administration, the Illinois SBDC Network has been providing information, expert one-on-one business advice and management training to pre-venture and established small businesses throughout the state of Illinois since 1984, and now celebrating 30 years of success. Accepting the IL SBDC’s award is the Illinois State Director, Mark Petrilli. In his position, Petrilli has oversight of the 36 Illinois SBDCs, 12 Illinois SBDC International Trade Centers, 9 Illinois Procurement Technical Assistance Centers, and the Small Business Environmental Assistance Program.
In 1985, Mark Petrilli joined the Illinois Department of Commerce with ten years of small business management and ownership experience. The Women’s Business Development Center is proud to honor the impactful work, guidance and leadership of its longtime supporter and collaboration of Mark A. Petrilli and the Illinois Small Business Development Center.
28th Annual Corporate Champion of the Year
ManpowerGroup’s Supplier Diversity Initiative was designed to provide innovative approaches to recruiting, developing and increasing their diverse supplier base. Their program includes women, minorities, veterans, disadvantaged and small business owners who share their mission of providing quality services to customers. They collaborate with diversity suppliers who share their vision of being the best provider of higher value staffing services and the center for quality employment opportunities. Through these collaborative efforts, ManpowerGroup can help strengthen the economic wealth of the diverse business communities, which will, in turn, contribute to overall growth.
Shaleta Dunn is the Manager of Supplier Diversity for ManpowerGroup. In this role, Shaleta cultivates and supports strong relationships with diversity suppliers and strategic external organizations to enhance ManpowerGroup’s brand and leverages them to support company objectives.
Crisis Manager Judy Smith to Deliver Keynote Address at Women’s Business Development Center’s 28th Annual Entrepreneurial Woman’s Conference
CHICAGO, IL, July 7, 2014 – Judy Smith, the crisis management expert portrayed by actress Kerry Washington on ABC’s hit series “Scandal,” will deliver the keynote address at the Women’s Empowerment Luncheon during the 28th Annual Entrepreneurial Woman’s Conference, presented by the Women’s Business Development Center (WBDC), on Wednesday, September 17, 2014, from 7:30 a.m. to 7 p.m. at Chicago’s McCormick Place-West, 2301 S. Dr. Martin Luther King Jr. Drive.
Smith is the founder and president of Smith & Company, a leading strategic and crisis communications firm with offices in Washington, D. C. and Los Angeles. She honed her skills through experiences with some of the most historic and sensational events of our time, including the Iran Contra investigation, the 1991 Gulf War, the U.S. Supreme Court confirmation hearings of Justice Clarence Thomas; the President Clinton scandal involving Monica Lewinsky, and the General Petraeus CIA scandal. She has also provided counsel to several heads of state and numerous Fortune 500 corporations.
Before starting her company, she was the senior vice president of corporate communications at NBC and was a special assistant deputy press secretary to President George H. W. Bush and his Cabinet. She appears frequently on major television networks to offer commentary on topical issues of the day. She also lectures on crisis management before corporate boards and other professional institutions. As a result of her groundbreaking career, Smith became the subject of ABC’s hit TV series “Scandal,” which resolves around the life and work of a professional fixer. She serves as co-executive producer of the project and provides insight and technical expertise on its crisis management issues.
In addition to the luncheon, the Entrepreneurial Woman’s Conference – themed “Your Growth Is Our Business” – will feature an opening night Awards Reception honoring successful female entrepreneurs and supporters of women’s economic development; the Women’s Business Fair Midwest; Contract Connections, the WBDC matchmaker, and four breakout sessions featuring expert panels speaking on topics ranging from online branding to mergers and acquisitions. Marquee sponsors for the event include BMO Harris Bank, BP America, Inc., The Deluxe Corporation Foundation and US Bank.
For more information, visit www.WBDC.org/EWC.
Child care providers have a tremendous role in a child’s life. They are responsible for providing a safe environment and engaging programs to meet the needs of children at multiple ages. In addition to providing a place where parents are comfortable leaving their children, providers must meet state requirements related to safety and care. There are many factors that play an important role in being a successful child care provider.
The Women’s Business Development Center (WBDC) offers an Early Childhood Education Entrepreneurship Program designed to provide a full range of business services to prospective and existing child care entrepreneurs for home and center-based child care businesses. At our annual Early Childhood Education Entrepreneurship Expo we highlight a few outstanding child care providers that have benefited from our program. Take a closer look.
“I definitely want to make a name for myself. I want to be known as great and quality in childcare. I’ve always had a love for children.”
Josephine Garrett, Owner, Learning for a Lifetime Childcare Center
Josephine went back to school to obtain her Early Childhood director credentials, worked on her credit and waited for the right opportunity to present itself. She acquired an existing day care in the South Loop licensed for 34 children, has retained the staff and is making improvements to increase enrollment. Also, she is a recipient of a WBDC loan. Josephine has a sound plan in place to grow the program and improve business operations. Her goal is to be able to offer quality programs that will enrich her children and prepare them for school. She participated in the WBDC’s 10-week Developing Your Child Care Business in 2012 as she was ready to make the transition from corporate to entrepreneur. Josephine was selected for the Fast Track award as she embodies the spirit of a true entrepreneur.
“Childcare was a passion. As a young girl I knew that I wanted to work with children. I knew that I wanted to own my own childcare program.”
Shanetha Pollnitz, Owner, Tiny Tots Tabernacle
Shanetha Pollnitz has been a home based provider for the past 11 years in Bellwood, IL. She is licensed for 12 children by day and 7 at night for a total of 19 children. Shanetha came to the WBDC through our entrepreneurial training sessions conducted through our South Suburban Assistance Center with Cook County. She is a leader in the industry and very active with Illinois Action for Children, participating in providing input around policies that affect the child care industry.
Last November, she became the President of the West Suburban Providers Associations previously lead by Faith Arnold. Shanetha also mentors her peers to improve their programs and provides support around operating a home based business. She recently completed the WBDC 10-week program as she is looking for the opportunity to expand into a center-based business.
For more information about the Women’s Business and Development Center and its 16th Annual Early Childhood Education Entrepreneurship Expo, visit http://www.wbdc.org/home.aspx and http://www.wbdc.org/Events/EarlyChildhoodEducationEntrepreneurshipExpo.aspx
5 Tips on Blogging for Your Business
Nowadays, it’s nearly impossible to run a company that has no online presence. Even if your business has yet to develop a website, chances are it’s been reviewed on Yelp, discussed in a message board or bragged about on Facebook.
Yet there’s a lot of value in taking your online appearance into your own hands and creating a landing page for yourself. Companies as small as your local laundromat have already jumped on board.
So what’s the next step in building your virtual brand? Many business owners are launching a company blog in order to humanize their product, connect with their audience and share new initiatives without spending a lot of time or money. The great news is that, with the right tools, they can make an enormous difference for you and your potential customers – or even go viral. The flipside is that they can also fall flat without an audience at all. It’s all about how you do it.
Here are five tips on blogging to grow your business’ web prowess and hit a home run in the virtual world:
1. Keep it short
Gone are the days of long, flowery descriptions and thorough evaluations. Today’s reader is looking for the meat of your article, and they want it now. Often, someone perusing a blog has five or six other tabs open on their browser while reading your words. Keep your sentences short. Limit your paragraphs to two or three sentences if you can. Try to keep your articles around 500 words. And write with passion!
2. Use numbers
A great way to keep attention on your blog is to use numbers. Create a list and number each heading (like we did with this one). Include the number in your title. “4 Ways to Go on a Greek Vacation”. “8 Activities Not to Do Before Bed”. “3 Things my Mother Taught Me”. For extra effectiveness, try making your sub-headings count down (5-1) rather than up (1-5).
3. Media is your friend
If you want to make sure your online article is never read, make it long, use big words, and don’t include any pictures. Fortunately, visual media is easier to get your hands on than ever. There are great stock photos available for cheap for small businesses. There are amazing videos that can be embedded from YouTube and Vimeo. Use them, and don’t forget to cite your source to keep your Internet karma intact.
4. Ask the audience
Nothing is more important than your audience when it comes to writing a blog post. Always keep the intent of your article in sight, and make sure it’s creating value for your readers. Engage them by asking a question at the end of the post and encouraging them to answer it in the comments section. Bonus points for giveaway items and contests. There’s a lot that someone will do for a free water bottle.
5. Join the community
If you really want your blog to be popular, make sure you know your community. Just like your parents taught you, you can’t make friends only talking about yourself. The blogging life is similar. Find your contemporaries and comment on their posts. Join social networks and retweet others’ articles. Make yourself a member of the community, and the community will reward you.
Want more tips on how to grow your brand using your blog? Join Go Girl Travel Network at the first-ever Women in Travel Summit for female travel bloggers and brands. Learn more at http://www.witsummit.com.
Beth Santos is Founder and CEO of Go Girl Travel Network, a resource and community for women travelers and the creator of the Women in Travel Summit. Beth is a current MBA candidate at the Kellogg School of Management and runs the monthly Chicago Founders’ Stories events with venture capitalist and social entrepreneur Pat Ryan at 1871. Visit her website at bethsantos.com for more information about her projects and to learn about her blogging classes and speaking engagements.
You want the best for your employees (and their families), and you know that making sure their health needs are met has been proven to decrease turnover, increase morale and keep your employees well enough to do their jobs worry-free. With the changes in healthcare, you may question what this will mean to them and your business. Even though the answers may be different for each business; here are a few facts to help you make important decisions regarding your employees’ wellness, regardless of your business.
- Notifications – Employers covered by the Fair Labor Standards Act must make sure all newly hired employees (as of October 1, 2013) are provided with notification about the new Health Insurance Marketplace. Employers must let employees know they may be eligible for a premium tax credit if they purchase coverage through the Marketplace, and that they may lose the employer contribution (if applicable) to any health benefits plan offered by the employer.
- SHOP: Access to Health Care Marketplace – Employers with up to 50 full-time or full-time equivalent (FTE) employees will have access to the new health care insurance marketplaces through the Small Business Health Options Program (SHOP). Employers with 25 or fewer full-time or FTE employees may also participate in SHOP and may qualify for a small business health care tax credit which is worth up to 50% of your premium costs.
- Medical Loss Ratio & Rebates – Employers could receive a premium rebate if their insurers do not meet their Medical Loss Ratio. Employers who receive these rebates and determine that the rebate constitutes a plan asset may determine a reasonable and fair allocation of the rebate.
- Employer Shared Responsibility – Though employers are not required to provide coverage to their employees under the Affordable Care Act, employers with at least 50 full-time or FTE employees that do not offer health coverage will be subject to a shared responsibility payment under the health care law. View the chart below. Businesses with fewer than 50 full-time or FTE employees are generally not affected by these provisions. Click here for more information.
- New Wellness Incentives – The Affordable Care Act creates new incentives to promote employer wellness programs and encourages opportunities to support healthier workplaces. A wellness program can be provided to promote health and fitness at the workplace or insurance plans can offer them directly to their enrollees.
The WBDC is holding a workshop to address the questions of small business owners on March 12, 2014. To learn more and to register today, please click here. For more information about the Affordable Care Act, please visit www.healthcare.gov.
By: Kristin Travis, Illinois PTAC Associate
By the time you visit government contract opportunities websites, you usually have a limited amount of time to submit proposals or bids. However, firms wishing to contract with local and Federal governments have several tools at their disposal to help extend the time they have to plan for procurements and to respond to RFPs. Knowing what these tools are and how to utilize them is critical to contracting success. This post will discuss five tools you can use to forecast government contracting opportunities and to fuel your strategy. Focus on these tools to develop your forecasting plan:
- Build business relationships – Contracting or procurement officers, supplier diversity representatives and small business specialists are routinely listed in forecasting plans. Often, their direct contact information is included as well. This can give you some time to begin to develop relationships with key procurement personnel.
- Develop a team – Based on the potential procurement listed in the forecast, you may decide that you are interested, but need to increase your capacity in order to fulfill the contract. Teaming allows for businesses to combine their expertise and talents to perform on projects that are larger than they could take on their own.
- Research – Requests for Information (RFI) are research tools used by procurement personnel to help them identify potential solutions to existing problems. Even though respondents’ results often show up in subsequent RFPs, an RFI is not a promise to issue an RFP in the future. Many times, responding to RFIs provides a unique perspective regarding challenges the agency is facing and gives you an opportunity to make suggestions regarding what they should include in the future RFP if it goes forward.
- Decide on certification – Sources sought are used primarily in Federal government procurements and their purpose is to determine who is available in the market to perform a particular task. In the case of the Federal government, if two or more qualified businesses of a certain socioeconomic group respond to a sources sought request, the contracting officer may choose to set the contract aside for that group. With this knowledge, you may decide that it is to your advantage to certify as a Women-Owned Small Business (WOSB), Disadvantaged Small Business (DSB), Historically Underutilized Business Zone (HUBZone), or any other designation in which you qualify to become certified.
- Create a timeline – Forecasting and buying plans will usually have a general time frame denoting when the contract opportunity will be posted to the public. It is best to use that date and work backward, so that you can determine when tasks need to be completed. This can include actions such as building business relationships, developing a team, conducting research, obtaining training, or getting certification prior to submitting a proposal.
All in all, as a business owner interested in doing business with the government, you must understand that using forecasting as a tool can allow you to glean crucial information that will enhance your government contracting strategy.
By: Kristin Travis, Associate, IL PTAC at the WBDC
A mentoring relationship can take form in many different stages of your career. Recently it has become one of the most important relationships a young entrepreneur can establish. The unconditional knowledge and advice a trusted and established entrepreneur can offer is invaluable. Many successful business owners will credit a large portion of their success to a few key individuals who helped mold them into the business owners they are today.
It has been proven that new business owners see concrete results in their companies when they enter into a mentoring relationship. New entrepreneurs who received mentoring increased their revenue by an average of $47,300 or 106% ( Htet). It has also been shown that businesses who received mentoring created 4.75 jobs on average (2.5 jobs more than those that did not receive mentoring) (Htet).
Stephanie Hickman, owner of Trice Construction Company, found her mentor through the Clinton Foundation and strongly believes that finding the right mentor is extremely important.. She explains, “the mentoring relationship is one of the most personal relationships of your life, so there must be a level of chemistry and like-minded alignment that comes naturally between both individuals.” Hickman cites trust as a necessary component for the relationship to be truly beneficial and valuable.
Now the question becomes how do you have a successful mentoring relationship? Here are four tips to make your mentoring experience most successful!
- Set up specific goals and expectations with your mentor from the start of the relationship.
- Create a realistic implantation plan with specific steps towards achieving these goals.
- Establish regular meetings (even phone meetings) in order to assure the relationship is a priority for both parties involved.
- Track and evaluate the progress throughout the duration of the relationship.
The Women’s Business Development Center offers a mentoring program through an online portal supplemented by programming including webinars and in person meet-ups to strengthen the relationships between mentors and mentees.
Htet Lin Thu, Jason. 2013 Business Outcomes Report. Rep. Micro Mentor, n.d. Web.
Did you know that diversity programs are constantly at risk of elimination? Government agencies, corporations and large primes regularly review, and sometimes challenge, the need for small business utilization when awarding contracts. Have you ever wondered what you can do as an owner to help ensure these diversity programs are available for your small, women-owned or minority-owned firm (often referred to as ‘disadvantaged’ businesses)? One of the things you can do is be a voice for disadvantaged businesses by participating in diversity studies.
The timing is right for you to participate in a diversity study since the Illinois Department of Central Management Services (CMS) is currently holding disparity study interviews. We encourage you to attend one of the interview sessions — click here for more information and to participate.
What is a disparity study? The purpose of a disparity study is to determine if an agency or corporation has engaged in the exclusion of certain groups in the solicitation and award of current and past contracts. Disparity studies are necessary to illustrate the importance of ‘set-aside’ programs such as Women Business Enterprise, Minority Business Enterprise, Business Enterprise Program for Persons with Disabilities, Disadvantaged Business Enterprise, etc.
A typical disparity study allows you to relate your experiences regarding contracting with an agency. You may be asked questions surrounding the topics of:
Expenditures of contracts awarded
Subcontract dollars awarded by prime
Past or current policies, programs or procedures that drive the procurement of contracts
Quantitative and qualitative data is often collected through public hearings, interviews, surveys and focus groups. Generally, anecdotal data is also collected to determine if race, gender or other forms of discrimination are present in the procurement process. Studies typically follow a defined group over a defined period of time.
What are some other important reasons to participate in a disparity study?
Your participation could provide valuable information that validates an agency’s rationale for updating their diversity goals. Disparity studies have also helped several local agencies establish a need for W/M/DBE programs.
To receive notifications about upcoming disparity studies as the Women’s Business Development Center becomes aware of them, please join our e-mail list at www.WBDC.org.
By: Kristin Travis, IL PTAC Associate at the Women’s Business Development Center