I'm a huge photography buff. With all the running around I do it's hard to make time to notice the little things, but when I'm confronted with a powerful image, it almost demands that I stop and take a moment to contemplate it for a while, and when I do it brings my mind down from 100 mph to maybe 20. Like taking a relaxing bath. In real life it's impolite to stare at someone, but pictures want us to gaze at them, at our leisure, unhurriedly. Taking a long, hard look and noticing the details that make it special. And that's why I quickly signed up for the panel & slideshow entitled Women In Photography hosted by B&H Photo this past Sunday. It was in honor of the little known (at least here in the US) International Woman's Day, which is March 10th.
There were five fantastic women of all ages presenting their 'best of the best' portfolios. Barbara Bordnick started out as one of the only women fashion photographers in the industry and then went on to do portraits (she did an amazing series of women in jazz which you can find in her site), and nudes, and then - the flowers, which came about as a happy accident when she had to find something to photograph quickly. Wow. Georgia O'Keefe taken to the upteenth level. Heavenly.
Then came Arlene Collins, who contrary to Barbara, does her work outside the studio, in the outdoors, or on location. She showed us some early shots she took of boxers in the Bronx, rodeos in New Jersey (see right - cowboys in the Garden State - who knew?), and later the Middle East and New Guinea.
She was followed by Jill Enfield, who specializes in hand coloring
photographs (like the one on the left), and Scout Tufankjian, who followed Barak Obama on the campaign trail and was able to document all the different ways that people responded to the candidate.
Kate Engelbrecht came last. She started out shooting weddings and then moved on to family documentaries, or still photo essays that tell "a day in the life" of a family. Looking to move into a new direction, she recently created The Girl Project, to chronicle what it's like to be a young women in today's world. Her goal is to get 5,000 girls to participate so that she can compile a book and then do a traveling show. At first she sent out emails to her friends and family asking them if
they knew and teenage girls for the project. Sadly she only got back two replies. But then she created a Facebook page and it went viral. (I have to include at least one element of social media in my posts, and here it is!).
Kate sends out disposable cameras to whoever signs up and then she uploads them onto the TGP site. Some of the girls also get interviewed on the TGP blog and the pictures also get posted on the TGP Flikr page. The images really tell a story. They give us an inside peek at how teenage girls see themselves, and Kate says she was surprised to find that they're more innocent than they seem. Right now she's bankrolling this all herself, but I can see how this could be a perfect fit for a sponsor. Dove, are you listening?
Kuddos to B&H for setting up such an inspiring event (for free!) , but it's very smart of them to provide photography fans with another way to feed their passion, to learn something and interact with each other, while at the same time visiting the store (and perhaps buying something).
How are you celebrating National Women's Day?
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Tuesday, March 10, 2009
Honoring Female Photographers on Int'l Women's Day
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Thursday, October 30, 2008
EconWomen Conference - Part 2
So I'm groovin' to the funky latin beat of Los Hombres Calientes, Vol. 2 in the background (music to blog by) and ready to keep yaking about yesterday's EconWomen Conference. Where did I leave off? Oh right. Wenda Harris Millard. Co-CEO of Martha Stewart. She had a lot to say about ad networks (similar to Adsense, ad networks allow publishers to make money by placing ads on their sites). The internet, she explained, is a brand medium, and there is concern on the part of brands with being associated with lower quality sites, or ones that don't fit well with their image, so they will have a preference over branded sites. Because the environment in which the ads appear is very important to advertisers, sites that are able to brand themselves will do well. But she warns you can't rest on your laurels - execution is everyting and publishers have to continue to deliver quality content. She told us about how big-name brand marketers like Dove (Unilever) are embracing the internet while others (Proctor & Gamble) are still sitting on the sidelines, experimenting. "You can't experiment anymore, especially since the forecast is for advertising online to match that of consumer magazines by 2010, and quickly surpass it from there,"
adds Wenda.
We heard more on the subject at the next panel, "Advertising, Ad Networks and Other Revenue Opportunties". Lisa Stone, CEO of BlogHer (that's her next to yours truly), shared how her company started out as a conference and has now become a full fledged organization that offers an ad network to its members but maintain high standards. "We have advertising guidelines that forbid pay-per-post and we request that bloggers bring in the best content for women", she says. As Lisa puts it, their members didn't want to write for magazines or newspapers, they wanted to write for themselves (here's to blogger's independence!), and BlogHer is providing a way for them to monetize their work. She sees a very positive future for ad networks.
Up next it was two media powerhouses: Cathie Black, Pres., Hearst Magazines, being interviewed by Tina Brown, back at work with the launch of her new Daily Beast. Tina Brown made a catty remark about being in magazine publishing in this environment (meow...I guess she learned her lesson...), which was blogged about in this piece on PaidContent.com.
The highlight of the panel that followed, which was on M&A and venture capital activity, was seeing Andrew Shue in the flesh, cute as ever. Yeah, that Andrew Shue. From Melrose Place. Elizabeth's brother. He is co-founder of CafeMom, an online community for mommies, although apparently he hasn't left Hollywood altogether. When he introduced himself he said he was formerly with D&D Advertising, and the whole room chuckled. I had to ask one of my table mates what he meant, and she quickly clarified that was the fictional company he worked for in the series (ok, he's cute and has a sense of humor).
The other big thrill was listening to blogger extraordinaire Heather Armstrong tell her story. She started her blog Dooce when she was single, thinking that only a handful of friends (and, as she puts it, a few guys she slept with) would read it. She would complain about her job and call her boss names, for which she subsequently got fired. Heather later got married and had a baby, so her posts became about the isolation that new moms go through and her own struggles with post partum depression. The beauty of it was that new mommies all over the country were sharing her same angst and, through her, found a voice for what they were feeling. Page views went through the roof, to the point where Dooce now supports her whole family. Her experience really inspired me to keep writing, and more often. Hope it does for you too. Blog on!
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Labels: bloggers, BlogHer, blogs, Cathie Black, econwomen, Tina Brown, women
Wednesday, October 29, 2008
EconWomen Conference, New York
It's 1:30pm and I haven't had lunch so I'm trying to make a healthy choice from the sumptuous array of sweets at the EconWomen Conference, where a who's who of women in media are converging for an afternoon of kick-ass panels. I opt for the fruits and nuts but also sneak in a few of the checkered shortbread cookies, and settle in my seat.
Wenda Harris Millard, Co-Ceo of Martha Stewart Omnimedia, kicked things off on a humorous note. In his opening comments her interviewer mentioned that MSO had recently reported earnings and that they had been flat, but she quickly pointed out to him that "flat is the new up." Love it.
Wenda then went on to say that the internet is a medium made for women. "Technology has given women a new voice, and they're screaming," she says. The media veteran believes there is an appetite for intelligent, integrated marketing, and that is the direction she's taking MSO.
"Women are seeking the comfort of home, and we're all about how to have a beautiful life every day, so we're well positioned to capture this trend", she adds. Yesterday they announced they invested in a company called Pingg, which makes online invitations, and they're adding their "secret sauce" to it (watch out Evite). They did this because they found out their readers throw an average of 17 parties a year (who'd of thought that the dainty handicrafters were such party animals?). So now they can plan them on Martha's site. And they're not stopping there. Wenda says their big franchises are food, weddings, and holiday celebrations, so they're looking to invest in other properties in those areas (and she's open to suggestions). It's nice to have money.
It's past midnight so I'm going to bed now but I'll continue blogging about some more very useful insights I got at this event tomorrow. Stay tuned for stories on Andrew Shue (who was one of the hotties on Melrose Place and is now a web entrepreneur), Tina Brown (formerly of Vanity Fair and Talk Magazine), Joni Evans of WowoWow.com, Lisa Stone, CEO of BlogHer plus many others. Good night all!
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Labels: econwomen, internet, martha stewart, women
Tuesday, June 3, 2008
"New Directions" for Women Entrepreneurs
Last week I gave a "Blogging for Business" presentation (one of my favorite topics!) at the Women's Center for Education and Career Advancement (WCECA), a nonprofit organization located in downtown Manhattan, and met a fabulous group of budding "fempreneurs" (pictured right).
Arlene wants to start a film production company to make video resumes for actors, Idalis is creating a line of makeup bags, Shevon is developing a line of vegan, gluten free foods, and Yanique makes eco-friendly home furnishings. Maresa and Leonette are both starting coaching practices to help women in transition, while Kim is in real estate management. These are just some of the businesses that are being "incubated" at the WCECA.
Established in 1970, the WCECA's main objective is to provide marketable skills to women of color who are in "marginable and tenous places in the paid labor force." To this end, they created a program called "New Directions" for low income women with the aspiration and commitment to start their own businesses. Participants meet twice a week for twelve weeks, and learn how to" build and run a successful business, create a sound business plan and prepare for the obstacles and rewards of entrepreneurship." Workshops include business plan writing, marketing, networking, legal issues, financial management and business strategy. High tech mediums like Internet blogging and online marketing are also covered. This valuable course, which is offered twice a year, is totally free of charge. Most of the women who participate find out about it through word of mouth, and the class size is usually 10-15.
Kathleen Vaughn (sitting front row, far right in the picture), who has been with the Center since Sept. of last year, is the program coordinator. "Ours is an organization founded by and for women, so we are very attuned to the challenges women face today," she explains.
Kathleen says that one of the biggest challenges women entrepreneurs face is putting together the (dreaded!) business plan, so three to four of the classes are focused solely that. They are taught by an instructor from American Express who keeps the ladies on track by assigning homework they have to send to her via email.
"We address the professional and personal needs of budding female entrepreneurs. In addition to tech skills we also provide guidance on goal setting, stress management, personal health and nutrition and planning for change," adds Kathleen, whose dedication to the women is evident. Before introducing me, she read an inspirational poem to get everyone in the right state of mind. And when she went away to Vermont for a week she hired one of the past participants, who has a pet sitting business, to take care of her kitty.
After the class was over I walked out with a warm feeling and a spring in my step, happy to have helped other mogulettes-in-the-making move a little bit closer to their dreams.
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Labels: entrepreneurs, small business, women, Women's Center for Education and Career Advancement
Wednesday, April 9, 2008
Interview with Web Entrepreneur Michelle Madhok
When Michelle Madhok, founder of shefinds.com, pitched her idea for an online shopping site to AOL, Lucky and Shop Etc. back in 2004, she got shot down by all three of them. At the time she had just ended a 5 year stint at AOL, where she spent 5 years overseeing women’s content. “AOL was a great place to find out what women wanted, with 35 million subscribers, 52% of which are women, says Michelle, who is also founder of Momfinds.com.
For Michelle, the online shopping bug started out as a pastime, doing personal shopping for colleagues and co-workers when they didn’t have time, or didn’t know what to buy. Then she graduated on to sending links of shopping sites to her friends. That’s when she got the idea to do it on a larger scale. But none of the established internet sites she contacted seemed interested, so she decided to do it on her own.
“On Craigslist I found a crazy Ukrainian to build the site. I bought the domain name “shefinds.com” from a porn site that wasn’t using it anymore (love it). AOL had given me a severance so I was bootstrapping, working out of my home with one full-time person, putting together an email newsletter and a blog. It slowly started picking up steam. We got requests from people who wanted to write for us. The more money we'd make the more people I would hire (she now has 40 writers). I then hired an editor and a web designer to produce the newsletters.”
Michelle looked for sponsors right away. She joined affiliate programs like Linkshare and cj.com. Then Bare Necessities offered to sponsor her newsletters and paid her $200 the first time - she was thrilled!
About three months later, smaller businesses like jewelry designers and handbag designers that couldn’t afford to advertise on sites with big female audiences like iVillage contacted her directly and asked to place ads.
When I asked how she promoted her site, Michelle said that she hired someone to help with SEO (search engine optimization), but word about her shopping site spread virally. Now they do weekly “ad swapping” with other sites, and they have deals with MSN, Yahoo!, Real Simple and Lifetime to syndicate their content.
Michelle started out by investing $20,000 of her own money in 2004, and last year made $400,000 in revenues. “I worked hard for it”, she says. “I wrote 600 invoices last year! But it’s nice to work for myself.”
Right now her margins are over 30% but her goal is to increase them to 55%. “We’re still ramping up to get there. I don’t go out trying to sell ads - people come to us, so I need to hire an ad sales person.”
I asked her what advice she had for others that are starting out and here’s what she had to say: “At the beginning I did everything really cheap. I didn’t touch my savings very much. Your first attempt should be a test. Try to find inexpensive legal advice. Always barter or negotiate on price – I got my head shots for free because I exchanged them for free ads.”
She also believes in making your mistakes on someone else’s time/dime. Michelle found consulting gigs through The Hired Guns at first (they place people in specialty positions). She worked on an email marketing campaign for Pfizer which really helped her with her own business.In addition to her two sites, she's got more in the works. “We want one for brides and then one for the home, and one for food. We want to be the hip consumer reports for shopping online in different vertical markets,” explains Michelle.
That's me and Michelle chatting at a recent Forrester networking event for the new book, Groundswell (a great read for anyone interested in social media). More pictures in my Facebook page.
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Labels: entrepreneurs, groundswell, internet, Michelle Madhok, momfinds.com, New York, online shopping, shefinds.com, startups, success stories, women
Monday, March 17, 2008
A Plug for Action Partners
Remember back when we had to do homework in school? It would go something like this: We'd attend a class where the teacher would lecture on a specific topic, (ah, how I miss Biology and Accounting - not!) then there would be several chapters of new material to read followed by an exercise related to it. By the end of the semester - whether we liked it or not - we would have gained knowledge on a whole new subject matter.
That's kind of what I'm experiencing with my action partner, Nicole Rose (that's her below, photo credit: David Garvey, www.dgimagesltd.com). What's an action partner, you might ask. Well, before I go into that, let me give you a little background.
I met Nicole about 4 1/2 years ago when we both attended a course for entrepreneurs. She was just launching ODM, her graphic design and web development company, and I was in the initial stages of exploring the possibility of working for myself. It would take me a few more attempts before I took the plunge, but Nicole has had her business up and running since then. We've bumped into each other through the years at various networking events, but when I saw her in January I was going through a bad case of "generalized business plan preparation anxiety", so I asked her for a little guidance. She pointed out that she was actually in the process of revising her own plan, so why not work on them together?
We immediately agreed to meet the following week. After our first session, however, doubts started popping up. Was I ready to divulge every little detail of my master plan to someone else? Were our businesses too similar? Wouldn't we be going after the same clients? Wouldn't that be a conflict? Trust has always been an issue for me - it took me years and a few painful market downturns to finally admit I needed to hire someone to assist me with my investments. I do my own manicures and pedicures because "no one can do them better them me" (yeah right). And I could have avoided one or two painful heartbreaks had I listened to my friends' dating advice. But I am getting better at it. I brought up my concerns to my new action partner, and Nicole, so much the wiser, confidently allayed my fears. She didn't see conflicts, and, realizing I had much more to gain than to lose, I jumped on the bandwagon.
Little did I know how effective our arrangement would be. We've had about 7 meetings so far, each time tackling a different section of our business plans, sharing our "homework" and giving each other feedback. If we feel stuck on something we ask for help and usually find a solution between the two of us. Then we plan our assignments for next time. Having that task in mind helps to spark ideas during the week, and even more stuff pops up when I'm doing the research and writing it down, so it's like my brain is on steroids. This week I came up with a novel approach for art galleries to promote their openings, which will help me target them as clients, and I've added a few more elements to a proposal I have for a magazine I'd like to prospect. Sometimes these new ideas seem too big for me, like a beautiful gown that doesn't quite fit. But I'm not judging them. My task is to put them down on paper and then let the Universe conspire to help me "grow into" my fancy dress.
Nicole and I have also decided to swap some services, like she'll help me with the design of my logo and signature, and I'll help her with her e-newsletter and online social networking strategy. We're doing this as if we were each other's clients, so we get to test out our services and give ourselves feedback on the process. Nicole, for example, has amazing customer service - from her follow-up communications to her proposals - even the recording on her voice mail makes her look and sound professional.
On my own, working on my business plan felt like lifting an 800 pound gorilla. But together with Nicole and our weekly meetings I'm making major progress. In fact, it's been such a positive experience that I've taken on another action partner (yes, I admit it, when it comes to business, I've become a polygamist!). Constance Gustke is a writer and journalist who, like me, got her start in Wall Street but has since moved on to cover design, technology and the luxury lifestyle market. We both have separate web business concepts that we'd like to develop, so for the past three sessions we've brainstormed and plotted and mapped out ways to make things happen for us. Constance calls us the "Laverne and Shirley of the 21st century."
So if you want to get things done, my advice is don't do it alone! Find someone you have something in common with and then, buckle up for the ride! Do you have structures in place to help you with your projects? Please share them!
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Labels: action partners, business goal, business plans, Constance Gustke, Nicole Rose, ODM, small business, women
Wednesday, January 23, 2008
Making Sales with Facebook and Flickr
Isn't it great when things just happen unexpectedly in your favor? That's exactly what Janice Cusano (that's her on the right), recently experienced. This former professor, who left academia last year to pursue her passion for designing jewelry, ended up selling one of her pieces on none other than Facebook, the subject of my past few posts (I swear guys, I'm not getting a penny from them! I wish!). Her story had a few good tidbits, so I thought I'd share the serendipitous series of events that led to the sale.
A couple of weeks ago, Janice was looking to revamp the photos on her site (see it on Etsy). Her friend Kathleen offered to take new pictures for her, which she then posted on her Flickr account because it was easier than sending them by email (the files were pretty big). She also placed one of the pictures on her Facebook page, (the turquoise and coral piece on the left).
Later that same night, an old friend of Kathleen's from college (who wouldn't have been in contact with her if she hadn't found her on Facebook) saw the necklace and sent her a message saying she'd love to buy it, so Kathleen sent her the link to Janice's Etsy shop, and bingo--she made a sale (she bought the earrings below on the right).Janice also noticed that there were 48 page views of the photo within an hour of Kathleen posting it on Flickr and Facebook. Pretty good exposure!
The funny thing is, Janice doesn't even have a Facebook page for herself (but thank God her friends do!). Because of her former life as a professor, Janice has had a long-standing bias against Facebook. When the site first started out it was only open to students, so there was a stigma attached to it for those in the academic field. Last year when she was still in her teaching position she did a search and found only one other professor that had a public Facebook page. In her profession, Facebook was a non-no because that's where all the students are, and "poking" wasn't exactly conducive to a professional relationship. Plus Janice likes to keep her personal life separate from her students (now former). However, she's slowly warming up to the idea, as more professionals join every day. She also sees how traffic has increased on her Etsy site because of Flickr and Facebook. (On Etsy you can check to see how many people are viewing each page and where they come from).
Janice finds other benefits from online social networks. "Not only has (Flickr) distributed my work far and wide, I have been able to build community in more specific ways that I hadn't by blog hopping. For example, I am a color fiend and symbols are important in my work. I joined the group 'Blue and Green' and met some incredibly like-minded artists who I connect with on many levels. I actually connected with one contact I had met at a show last September! Every time this happens, I feel a little less out in the cold."
That chance encounter online gave Janice the inspiration for a series of posts related to large jewelry on her Goddess Findings blog. The picture of her contact on Flickr showed her wearing a chunky necklace that Janice liked, so when she reached out to say "hi" she also complimented her on it and asked her to submit a photo and talk about what that piece means to her.
Janice adds that artists can put pictures of their studios, their work-in-progress or things that inspire them, which gives buyers a better sense of who they are. "On Esty you see what they have for sale, but the visual images on Flickr are stronger", she says. By showing people another facet of your life, you create more of a connection.
How are you using new media in your business? Please share your story with us!
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Labels: Facebook, Flickr, Goddess Findings, Janice Cusano, networking, new media, online social networks, small business, social networking, startups, success stories, Web 2.0, women
Thursday, December 13, 2007
Mediabistro: Time Line to Success
I've been running around left and right trying to get my little operation into high gear and as usual fretting about the future, until I read an article (The Accidental Entrepreneur) in this month's New York Enterprise Report. It was about how Laurel Touby sold her company,
Mediabistro, for $23 million this past July. It took her just 13 years...but she didn't make a profit for the first 9 of them, and she didn't generate any money for the first two. That really helps to put things in perspective!
I remember going to a few of her events and have seen her company grow right before my very eyes. Her story is so inspiring to me that I wanted to piece together all the details of how she did it, so I looked up a few other articles on the sale and put together a time line:
1994 - Laurel, a struggling freelance writer, starts organizing after-work cocktail parties for journalists - 10 people showed up at the first one but within months that turns into one hundred (FYI...today that database is about 700,000) - however, she wasn't making money from it
1996 - Started an email newsletter with job listings (still no money)
1999 - Started charging HR people $100/month to post jobs - got 8 checks the first month, then 16, then 25, 35, 45 (ka-ching!) - that's when she ditched her freelance writing and decided to make this a business
2001 - Received $1 million in funding in March (a big ka-ching), then 9/11 hit (took back some of that ka-ching - read Laurel's account of how they managed to pull through after the terrorist attacks:
The Strength to Lead in the Face of Crisis, from The Huffington Post)
2002 - Laurel follows a colleague's suggestion to add courses for journalists to her list of services, and later that year launches a premium content subscription membership (ka-ching, ka-ching)
2003 - Became profitable
2006 - Got approached by buyers
2007 - Sold Mediabistro to Jupitermedia in July for $23 million, pocketing $12.4 million (she owned 62% of the company's stock) (a really big ka-ching)
Here's more related articles on the story:
-Village Voice: The $23 million Boa
-NYC TV's NYC 360 (video): Interview with Laurel Touby
-Washington Post: Journalism Morsels Make for Profitable Dish at This Bistro
As senior vice president, Laurel will still oversee Mediabistro but now she will also report to her new bosses at Jupitermeda. NY Enterprise Report asked if her life has changed now she's wealthy and her answer was "no, I still take the subway. Maybe I’m eating out a little more often. The one thing I’m going to spend the money on is a gigantic loft apartment so I can have all my journalist friends over for dinner." Sometimes the more things changes the more they stay the same...
My take home message out of this? Create a community of like-minded souls, find out what they need, and deliver it to them. It's that simple. Do that long enough and eventually the money will come.
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Labels: entrepreneurs, Laurel Touby, mediabistro, networking, small business, social networking, startups, success stories, venture capital, women
Tuesday, November 13, 2007
Facebook Basics
This week I finally forced myself to sit down and learn how to use Facebook. For months I've been receiving emails from my friends asking me to join their list, and I had accumulated about 36 contacts but had no idea what to do with them. So after putting it off for forever, I finally to bite the bullet.
Why am I so interested? Well I spend a lot of time networking and making contacts, so anything that lets me do this more efficiently I'll definitely be interested in. What I found is that Facebook is like networking but on steroids.
So the first thing to do when you open an account is to invite your friends, which is easy - you can import your email addresses from whatever email provider you use – they’ll receive an invitation, and once they accept they'll be on your list. Another option is to click on "Find Friends", and enter your email address and password, then you'll get a list of all the contacts you have in Outlook or Yahoo and you can simply checkmark the ones you'd like to invite.
To check on your progress you can click on the "friends" tab and you'll instantly see how many people are connected to you. When you click on your friend's profile – presto! Instant access to all their friends. You'll see where they went to school, where they’re working, where they used to work… etc.
Say you’re looking to target a specific company for business; you can look through all your friend’s and family’s contacts to see if there’s anyone connected to that company, or industry. If you want to get in touch with your friend’s friends, you can ask for an introduction or directly request to be their friend.
Facebook has something called a poke which you can send - and they're intentionally vague on its definition of this so that you can make it whatever you want it to be. Or you can send them a message. By default anyone can message anyone, but depending on your preferences you can adjust your privacy settings so that only your friends can see your profile, or only your family, or both, or you can leave it open to the Facebook universe.
On the main section of your personal page you'll find a news feed – and no, it's not world news - it's actually a constantly updating list of updates on your friends' activities on Facebook. So if they've added pictures, or joined a group, or added a new friend, it'll show up. On the right hand side you'll see birthdays, notifications, upcoming events or friend requests.
You can also put up a "wall", which is where people can randomly leave comments…if it’s your birthday your friends can leave you a little note, or if you’re sick they can leave a 'get well soon' message…or, for businesses, you could ask people to leave a testimonial for a product or service you’ve provided. (There’s also a super wall and a fun wall, which allow for added functionalities.)
If you're a small business, freelancer or solo practitioner you'll want to check out their classified section, called “marketplace”, where you can post your services or browse through "for sale" items. On a recent visit I found ads for a jazz piano teacher and a ride to Yankee stadium.
You can post an event or browse events - and check out what events your friends post or are attending.
You can post a Facebook Flyer announcing something special going on with your business. They start at $5 to display your Flyer 2,500 times and go up as you increase the run times. It will appear in your homepage but you can also post it on specific networks.
There's also a tool to create polls, and you can target Facebook users based on gender, age, school, location, or profile keyword. This is especially useful if you need to compile market data/research on a product or service.
You can join groups, or create one if you don’t find what you’re looking for (stay tuned for the Mogulette Facebook group, coming soon!). Members can add videos or pictures to the home page, and easily interact with the whole group through the group discussion forums, where you can ask the group questions and have ongoing dialogues.
For book lovers there's the virtual bookshelf where you can let people know what books you’re reading and find out their favorites.
There’s still a lot more that I need to look into, but at least this will get us started…
Here's some related articles I found on using Facebook:
12 Ways to Use Facebook Professionally
How to Use Facebook to Promote Your Business or Blog
How to Use Facebook Without Losing Your Job
How To Use Facebook Flyers To Get Amazing Free Demographic Information
How are you using Facebook? Please let us know!
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Labels: entrepreneurs, Facebook, market research, marketing, mogulettes, networking, small business, social networking, startups, women
Thursday, November 8, 2007
Successful Female Entrepreneur Tells Her Story
How can a company with no business plan, no offices, and no track record become a multi-million dollar business? That's exactly what I asked Rosalind Resnick, who took her company, NetCreations, from a two-person home based startup in 1995 to a public company generating $58 million in sales. She recently addressed a group of internet entrepreneurs at an iBreakfast meeting I attended. After listening to the program director, Alan Brody, give a short introduction about her, I knew I needed to find out more, so I asked her for an interview. She graciously accepted, and I've posted the details below.
Where did you get the idea to start an email marketing company?
NetCreations started out as a Web design firm in 1995. Pretty quickly, we began to see that our clients needed more than just cool Web sites – they needed a way to get people there. We pioneered opt-in email marketing as a way to connect marketers with the consumers and business people who wanted more information about their products and services but didn’t want to waste time surfing the Web trying to find them.
Did you have a business plan?
No. We didn’t have a formal business plan until our company went public.
How much money did you start out with, and where did it come from?
We started with $1,000. My partner and I contributed the capital.
What did you use the money for?
The money was just to open our bank account. My partner was a Web designer and programmer who worked at our local ISP [internet service provider] so he had the technical skills that we needed. I was a journalist who had just written a book about doing business on the Internet so I did the sales and p.r. and brought in the clients.
What happened after that? How did the company get sooo successful in such a short time? Did you ever imagine it would grow as much as it did?
Our big break came when a circulation manager from Ziff-Davis tested our lists in the fall of 1996 and got a response far better than anything he’d ever achieved through postal mail or telemarketing. Once we realized that we were in the direct marketing business and that companies like Ziff-Davis needed to be able to mail to millions of names in thousands of different categories, we started putting together a partner network of high-traffic Web sites to build our database.
What were the most crucial factors that helped your company achieve success?
Building a partner network of Web sites that sent email addresses to our database and partnering with list brokers, ad agencies and resellers to market our lists to Fortune 1000 clients
What mistakes do you see startups making the most?
Failure to plan. While some companies fail because they lack capital, many more startups go under because their founders lack management experience or because their business models don’t add up.
What advice do you give your startup clients?
Don’t be afraid to try new things and make mistakes. As long as you learn from your mistakes, you’ll be all right.
It's interesting to see how by building a partner network you can grow your company faster and larger than just by yourself. That's definitely something that Mogulettes-in-the-making need to think about: who can refer clients to me that isn't in direct competition with me? Pet care providers can team up with pet stores, life coaches with career counselors, children's entertainers with babysitters, I could go on and on.
Rosalind is now using the valuable knowledge she gained from her experience to help small businesses become successful through her company, Axxess Business Consulting. She's also one the experts "on call" at Entrepreneur.com, where she and a handful of others answer questions related to startups. And as if that weren't enough, on top of that she writes a blog, Vest Pocket Consultant, with more information on small business. Thanks Rosalind!
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Labels: entrepreneurs, funding, New York, referral partners, small business, startups, women
Monday, October 29, 2007
Springboard Luncheon with Christie Hefner
Did you know that 3 out of 4 companies are started by women, but only 10% of venture capital funding goes to women-owned businesses? That's pretty sad. Here's another one: women own more than 50% of the wealth in the U.S., but only 8% of those funds are allocated to investing in start-up companies. If you're a small business looking for alternative ways to finance your growth, funding from private investors, aka angel investors or venture capitalists, could be an option for you.
Traditionally this segment of the market has been dominated by men, but an organization called Springboard Enterprises is changing that. For eight years this nonprofit, which was founded by Kay Koplovitz, has been helping female entrepreneurs get access to money through the equity markets, while at the same time encouraging women to invest in women-led companies.
I was lucky to have been invited to a recent luncheon sponsored by Springboard, and the key note speaker was Christie Hefner, CEO of Playboy Enterprises (below left), who gave us a fascinating account of how she got started in business. She studied law and journalism in college back in the 60's when it was all about anti-establishment, so the last thing on her mind was going into the corporate world. However, after working as a journalist for some time her dad, Hugh Hefner, urged her to move to Chicago and join his company, where she would start from the ground up. There were a great many high caliber journalists that contributed to Playboy, and the young Ms. Hefner was very much attracted to the intellectual challenges the magazine presented, so she signed on.
A few years later, during the 80's, Playboy went into financial trouble, and after a management shake-up Ms. Hefner, then just 29 years old, suggested she become president and work alongside the CEO, whom she admired greatly. Soon after taking the post, they started dumping losing lines of business and focusing on "managing for cash", keeping track of cash on a weekly basis, as opposed to quarterly as had been done in the past.
Some time later she got a call from Michael Milken, the "junk bond king", who invited her to meet with him in his offices. After asking her a few questions about the magazine, he announced he could raise half a million dollars from her. Ms. Hefner was dubious at first, concerned about taking on a heavy debt load, and not knowing exactly what to do with all that money. Milken's response: "First raise the money, then figure out what to do with it!"
That she did, first of all by seizing an opportunity in cable TV, realizing that channels could become a destination in and of themselves, as opposed to just tuning in to watch a particular show. To this day Playboy TV, which she says is targeted to couples, is in 100 million homes and is their biggest profit center. Ms. Hefner pointed out that magazines need brands and content that live beyond its pages, and they have been one of the few able to successfully take a brand into a whole new medium. Case in point: they have Playboy the magazine and Playboy the channel, unlike Time Magazine and CNN.
In 1992-93 she met Jim Clark, who had created Mosaic, which would later evolve into Netscape. Those were the early days of new media and Ms. Hefner was trying to figure out what the world wide web meant for Playboy, so she asked Jim for help. He suggested she build a site and put Playboy on the web. Playboy.com is now their fastest growing profit center, and where they monetize traffic in a variety of ways: e-commerce, international deals, social networking, etc. The internet, she says, is a transformative technology, and she quoted a few stats: 15% of newlyweds met online, and more text messages are sent and received every day than there are people on the planet.
For the future? She sees a move toward more user-generated content, which is why they've launched PlayboyU, a college-only, no nudity social network.
It was quite insightful to see how Ms. Hefner, by asking experts for help, was able to take her company to places she might not have ever envisioned. That's a big lesson for someone like me, who often thinks I can do everything myself!
That help is what Springboard's founder, Kay Koplovitz (that's me next to her on the right), offers. By putting together a team of investors for female-owned startups, Ms. Koplovitz, along with the company's president Amy Millman, has made many a dream come true for women launching their own businesses. Sounds like a familiar theme - I definitely want to follow in their mogul-ific footsteps!
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Labels: branding, entrepreneurs, funding, mogulettes, New York, small business, social networking, startups, women
Thursday, October 11, 2007
Branding Strategies for Your Business
Here's a question every inquiring Mogulette mind wants to know: How do I make my product or service stand out? Well, according to branding expert Romana Mirza, it all begins with you (that's her in the pictures, giving the Mogulettes a presentation). She says that a company's image is a reflection of it's owner, so one way to start is by asking yourself, what words describe me, and my business?
Take a look at Target, for example. Webster's definition of the word is "something aimed or fired at" or, "a desired goal". Brilliant! When I go shopping, I want to be able to find what I'm looking for, or "target" the products I want. The metaphor of the red bull's eye is also pretty effective, and quite unforgettable. I guess that's what branding is to me, having my product or service leave a lasting impression. Remember the old Blackglama fur ads? Glamorous women like Liz Taylor, Jane Fonda, and Carol Channing - naked, except for the black mink coat - with a caption that read "What makes a legend most?". Sexy, and fabulous. In the same way, the "Got milk" ads made drinking milk sexy, and Nike's "Just do it" made sweating sexy, and definitely unforgettable.
But for our brands to become this memorable, it takes some deep soul searching along with a heavy dose of investigative work. That's what Romana does at her recently launched brand strategy firm, Studio Pinpoint - help clients bring out what's unique about their company. She suggests focusing on three areas:
First, your work. Ask yourself: What do you do differently? What do you offer that others don't? What is your personal and unique contribution to your work? What do you want your company to stand for?
Then, your clients. Ask them: What do you think I'm about? What special qualities do I bring to the process/outcome? What did you like about our experience together?
And finally, research your competition: What's their brand positioning? Key messages? Product presentation?
Armed with this information you can then pass it along to those helping you with your marketing: logo designer, copywriter, web designer, so they can come up with a message that clearly and accurately portrays you and your product/service - to make it....memorable!
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Labels: branding, business cards, business goal, entrepreneurs, market research, marketing, mogulettes, philosophy, Romana Mirza, small business, startups, website design, women
Wednesday, October 10, 2007
Digital Resources for Entrepreneurs
Need a little hand-holding to narrow down your target market? Are you finding it difficult to get information on your competition? You can now book a half-hour one-on-one session with a librarian at the Science Industry and Business library (remember "SIBL"? see related post), for free of course, and they'll help you with the above plus: business leads, industry research, marketing strategies, potential client lists, vendor lists, etc., etc., etc. I've already set my appointment for next week!
Also new at the library (or at least new to me!): business eBooks and audiobooks which you can download from their website and read from your computer or iPod. Here's some I found interesting:
Basic Black, The Essential Guide for Getting Ahead at Work (and In Life!) (audiotape), by Cathie Black, who, as current president of Hearst Magazines, persuaded Oprah to launch a magazine.
Avon, Building the World's Premier Company for Women (eBook), about how this direct sales company, which you never seem to see anywhere, just keeps growing and growing.
The Big Book of Small Business, You Don't Have to Run Your Business By The Seat of Your Pants
Blog Marketing (eBook), by Jeremy Wright
And I only got through the "B's"!
Moving on to video, Cornell University has compiled an extensive list of video clips with entrepreneurs which is available to the public on a wide variety of topics. There's 1310 clips just on startup business planning! What's also great is they have it listed by business name and category, so you can actually choose a company in your industry and hear how they got their start, or what resources they used to get off the ground.
I read the print version of these two fascinating articles by NY Sun writer Liz Peek about women entrepreneurs but they are also happily available digitally:
Natori Celebrates 30 years at Breakneck Speed profiles Josie Natori, who started trading stocks at 22 and went on to build a fashion empire that generates $150 million in retail sales a year (one day that could be us!!)
Lulu Wang Throttles Back is a about a self made millionairess who went from rags to riches and is now cutting back on her corporate duties to follow her passion for vintage race driving.
That's it for this digital tour. 'Til soon!
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Labels: business library, business plans, entrepreneurs, market research, mogulettes, New York, open source, small business, startups, women
Thursday, September 20, 2007
Would $50,000 be enough to get you started?
How does $50,000 sound to get you off the ground? That's what Mirassou Winery is offering women entrepreneurs if their business plan wins the "Make Your Dreams Come True" contest they're sponsoring. That could buy all the things on my wish list: laptop, printer, virtual assistant, personal masseuse (just kidding, unfortunately)...plus much more. The trick is you have to submit a rockin' business plan by December 15th, so that was incentive enough to get me (and a handful of the Mogulettes!) to sign up to Baruch College's 4-week Bootcamp on how to write them.
Elissa Grossman (that's her in the blue jacket next to yours truly) teaches courses on business management for college students that typically span a whole semester but she's doing an abbreviated version for entrepreneurs, starting with the elements of a business plan, which she covered in the first session, along with great examples of what an executive smmary should and shouldn't look like.
The second class was focused on the marketing plan, which is all about information gathering - where to get data about your target market, what the benefits and limitations are to different types of research, how to conduct surveys (one place to try out is surveymonkey.com, where you get the first 10 questions in a survey free), how to scope out your competition. Then she moved on to narrowing down your target market and selecting a marketing mix to reach them.
The third class centered around money - how much you need vs how much you want. This part was cool - Elissa recommends shutting your eyes and imagining the process that's involved in making a sale. Then make an outline of that in order to come up with a list of costs, like how much will the virtual assistant cost, plus the web developer, plus the computer, the desk and the chair, the masseuse (no...just kidding again) and so on, for each task. How much will be variable, or fixed? All this will help in coming up with a price for your goods and services. But that's not all that determines price - there's the perceived value (you can charge a premium for goods that are new in the market, or are complex, or where price comparisons are difficult). Competition also plays a role, as does strategy, like special pricing promotions that you might do.
The second half of the class was about sales forecasting and breakeven analysis, which I won't even attempt to summarize. But she made it interesting by giving lots of real life examples of how companies used these numbers to make adjustments and run their operations more efficiently.
BTW, Elissa's available if you'd like feedback on your business plan, as are other counselors on staff at Baruch's Field Center. These services are offered for free.
So, sharpen up your pencils and put your fabulous ideas on paper...you could win 50,000 big ones! Like they say: you gotta be in it to win it...
Next week I'll be away on a short vacation to Paris, yes, the "city of lights"! My friend invited me to stay with her and I'm using my miles to get there, so it's a great deal. Stay tuned for my report on how the French do business - I expect to be doing heavy duty research into their chocolate industry. Au revoir!
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Labels: budgeting, business plans, grants, market research, marketing, mission statements, mogulettes, sales, small business, startups, women
Thursday, September 13, 2007
Market your Business with Email Newsletters
Aside from emails sent by friends and family, my favorites things in my inbox are newsletters - and I get quite a few of them. There's one from NYremezla with updates on Latino artist events around town, Duct Tape Marketing usually has interesting ways to promote your business, and The Spacialist doles out a weekly tip on getting rid of clutter. Oh and I forgot, there's dating advice from my friend Melissa's Love Notes (I need all the help I can get!).
Newsletters are a great way to stay in touch with your community and your clients, to give them a little something for free and let them know you're thinking about them. This week Maisha Walker of Message Medium spoke at length about newsletters in her internet marketing class, which is being held at NYANA, a business center that provides training and micro loans to entrepreneurs (that's Maisha, left, with Maria Paulino of NYANA on the right). I know many of the Mogulettes are interested in newsletters, so I'm including some of the highlights of what she said.
One of the most widely used newsletter providers is Constant Contact, who starts out charging $15.00 a month for 500 emails and then goes up from there. The big downside with them is they place their own ads at the bottom of the newsletters, which isn't great. Feedblitz offers a free version but again, you'll have to allow them to place 3rd party ads on your emails. Luckily there's many other ad-free options at comparable prices, and I researched them all for you!
iContact - starts at $9.95/mo. for 500 emails with a $12 discount if you sign up for a year (first 15 days are free)
AWeber - $19.95/mo. for up to 70,000 emails
Campaigner - $25/mo. for up to 2500 emails
Vertical Response - $15/mo. for up to 2500 emails (first 25 emails are free)
MyEmma - $30/mo. for up to 1000 emails plus $250.00 for a template
SwiftPage - $14.95/mo. for up to 250 emails; $30/mo. for up to 1000; 15% discount if you sign up for a year
StreamSend - $5.95/mo. for up to 500 emails; $9.95/mo. for up to 2000 (first 30 days are free)
PatronMail - call for quotes
Benchmark Email - $9.95/mo. for up to 600; 10% discount if paid annually and the 13th month is free (plus first 30 days are free)
Maisha's Tips
- Avoid 3rd party advertising (unless you're getting paid for it!).
- What people look at first before opening an email is who it's coming from, so don't use a generic address. Instead, segment your list and use a different address for each group you send the newsletter to.
- Define your purpose - is it for reading or for selling products?
- Keep the layout consistent - if you have four pictures on the first one do the same for all the rest.
- Decide on timing - how often will you send it? (Maisha suggests to start slow - quarterly)
- Link your images and text to relevant pages on your site, or create landing pages.
- Create compelling subject lines to get your emails opened - focus on what the benefits are to your readers.
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Labels: marketing, mogulettes, New York, newsletters, small business, social networking, software, startups, women
Thursday, September 6, 2007
Mogulette to launch bookstore in East Harlem
I just love hearing success stories from fellow Mogulettes-in-the-making!
When I first met Aurora Anaya-Cerda at a Latina writer's group at the beginning of this year, I was instantly captivated by her business idea: to launch a bookstore in East Harlem, a predominantly Latino neighborhood in Manhattan which currently doesn't have one but is sorely in need of one. Back then she was still very much in the planning stages of her concept, but aided by a boundless amount of enthusiasm and motivation.
Fast forward a few months to last week, when I caught up with her at an internet marketing class. With a big smile on her face she shared her exciting news: "La Casa Azul", the name she's given the store (it's named after Mexican artist Frida Kahlo's home in Mexico City and it means "blue house") will be launching in the Fall!
Aurora grew up in a place similar to East Harlem (also known as "El Barrio"), an immigrant neighborhood lacking businesses, programs and services that benefit the community, and instead where countless liquor stores, dilapidated buildings, drugs and gangs abound. Her belief is that El Barrio needs a store like La Casa Azul Bookstore - a place of knowledge and culture, where the community can come together to enjoy activities such as author signings, art receptions, educational workshops, not to mention the best organic coffee and Mexican hot chocolate in the neighborhood!
This enterprising "chica" first got the idea of owning a bookstore during her junior year in college. After working at an independent bookstore in California she knew that I one day she'd have to open one of her own. But it wasn't until many years later when she arrived to New York that she was able to reawaken that dream that had been dormant for years! In the Spring of 2006 she came across the East Harlem Business Capital Corporation, a neighborhood organization that helps entrepreneurs, and took the first of many courses on business. These classes served as the catalyst for more opportunities, including access to more resources, advice on financing, leads to support groups (like the Mogulettes!) and the push she needed to move into the world of bookselling.
Two years ago Aurora didn't know the first thing about a business plan but now she has a firm grasp of the whole start-up process. She has an investor who believes in her vision, and is awaiting funding for the remainder of the start up costs. Below is her mission statement and goals:
La Casa Azul will be an independent bookstore/café, offering new and used books in English and Spanish. The store will offer a wide range of books and music from the United States, México, Latin America and the Caribbean. La Casa Azul will also carry Mexican jewelry, art and clothing. Our mission is to provide the community with contemporary bilingual literature, featuring works by Latino authors.
Our goals are:
- To provide culturally relevant books and events.
- To heighten community awareness and political consciousness regarding issues that affect East Harlem residents.
For more information about the store's grand opening, email: lacasaazulbookstore@gmail.com.
About Aurora:
Aurora Anaya-Cerda acquired experience in the daily operations of a bookstore during her employment at two independent bookstores. A graduate of UCLA, Aurora has a double Bachelor’s degree in History and Chicana/o Studies and a minor in Education. She taught middle school for 2 years and had been in the education field for the last 6 years. Since her arrival to New York in July 2005, she has been an active member of the East Harlem community as a participant and supporter of cultural and educational events.
Aurora is definitely on her way to becoming a full-fledged Mogulette, and I'm looking forward to attending her launch party!
If your business has experienced success or reached a highly anticipated milestone, let me know! Your stories inspire all of us, so please share them!!
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Labels: business plans, mission statements, mogulettes, New York, small business, startups, women
Tuesday, August 28, 2007
Open Source: A Free Alternative to Microsoft
When my computer started acting funny a few months ago the first person I called for help was
my friend Carol Wade (left), who's worked in IT for many years and is a genius at solving computer glitches. She immediately suggested two things: 1) do an Ad-Aware scan, and 2) ditch Internet Explorer and use Mozilla Firefox as your web browser - it offers better protection against spyware and viruses. Carol's a big proponent of open source software like Firefox, and if a techie like her likes it so much, I wanna know why, so I asked her to come and talk to the Mogulettes about it. She prepared a handout detailing all the reasons she thinks its better, which I've pasted below.
What does "open source" mean?
- The “open source” movement began in 1998, when the Netscape Corporation decided to release the newest version of its Navigator Web browser with the source programming code openly available for users to view, and for software developers to tinker with.
- "Open source" has come to mean "free software," or rather, software whose source programming code is open, for use, examination, improvement, review and commentary by the general public. It is often also generally free for download and installation, without paying any purchase or licensing fees.
- Yes. Much of what we as computer users know is “closed source” software. The best example of this is also the most widely used and widely known, that of Microsoft Corporation. Very little of Microsoft’s software code is open source.
- Microsoft’s revenue is based on product licensing. That is, they pay developers to create their software; then, they ask end-users to pay high license fees to use their software. Microsoft then pays its developers, but keeps some money for itself.
- There are many hands in the pie (so to speak) with “closed source” software. There’s the company built up around developing consumer and business software. There are the company’s investors, shareholders and board of directors. Of course, employees and developers are a huge part of the operation as well.
- The final product is software, which the consumer ends up paying a huge cost for…were there fewer people involved in the process, it would be a lot cheaper.
- As mentioned above, “open source” usually means free. Free to download and use, free to try and to get rid of, free to update and upgrade. This is the primary benefit of using open source software.
- Because the product is the first and only concern with open source software, there is nothing to buy; the people making the software are people who love programming.
- They’re not doing it to make money; they’re usually either sick of paying too much money for often expensive and buggy software themselves, or they work for one of those companies making expensive software, but want to give back to the community by writing simpler, cheaper applications.
- You may already be using one or more open source applications! The popular Web browser, Mozilla Firefox, is one of the most widely used open source programs around. Firefox gained widespread use starting a few years ago, when viruses targeting Microsoft’s browser, Internet Explorer, hit critical mass.
- Believe it or not, the Firefox browser originated in that first release of Netscape Navigator, in 1998!
Here are some helpful hints:
- There is an open source equivalent for almost every popular closed source application.
- You get what you pay for: support for open source applications is not centralized, and have a WYSIWYG approach. Pronounced: “wizzy-wig,” it means, “what you see is what you get”! However, there are usually websites and forums associated with open source software, where developers and users can communicate solve problems in the design.
- There is open source software for both PCs and Macs. In fact, there are even entire open source operating systems! The basis for these systems were around long before Microsoft made Windows, and continue to influence a whole realm of low- or no-cost computing that is slowly moving into the marketplace (such as Red Hat Linux)

Browser: Mozilla Firefox
One of the best, easiest to use free Web browsers around, it uses tabbed browsing to cut down the number of open windows. It’s designed a lot like Internet Explorer, with security settings, bookmark organization, customizable toolbars and history reporting. It’s also easy to install, use, and migrate your bookmarks from Internet Explorer. It’s performance is very reliable.
Email and Contact Management: Mozilla Thunderbird
Tired of Outlook Express? Want a simple, light, uncomplicated way of managing email addresses and client information? Mozilla Thunderbird is Firefox’s email-management cousin that, like Microsoft Outlook, manages all your customer data easily and simply and without fuss. Thunderbird also doubles as a powerful RSS feed aggregator. RSS stands for "Really Simple Syndication," and is a method for skimming all the important stuff off the top of your favorite news and blog sites, right into your email reader, without having to visit the web pages!
Calendar and Time Management: Mozilla Sunbird
Thunderbird doesn’t have a calendar built-in, to save system resources for people who either don’t want or need a calendar application. They separated it out to Sunbird, a super-basic calendar and alarm/notification program for busy folks on the go.
Document Management: OpenOffice
Can’t afford outrageously-priced copies of the latest Microsoft Office Suite? OpenOffice is a fully-featured document-creation program similar, comparable to (and conversant with) all MS Office applications.
Photo Management: The GIMP
Need to crop and do other simple image manipulation tasks, without being hassled to purchase software from Adobe? Try the GNU Image Manipulation Program (called The GIMP for short) - leaner than Photoshop by miles, cheaper and pretty user-friendly.
So think twice before splurging on the new Microsoft Office 2007. Why pay for Internet Explorer, Outlook, even Photoshop... when you can get similar or better products for free?
What's your experience with open source? Chime in!
PS - To contact Carol, email her at c.wade@earthlink.net
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Labels: computers, mogulettes, open source, small business, software, startups, women
Thursday, August 23, 2007
Creating a Budget
Do you ever daydream about new gadgets or office equipment you'd like to own if you had extra
cash? Here's my what's on my wish list: a new laptop, a new printer, a new desk and a matching bookshelf to go with it. Even though I'm clearly convinced I really need all these things for my business and I'm picturing how great my home office would look if I had them, according to Padma Vaidyanathan, a CPA who offers tax advice and preparation to small businesses, I need to hold off on buying high ticket items. She advises clients to wait two years before making major purchases, or at least until they're making money. (Aaargh! Delaying gratification is not one of my strong points...). But Padma does offer an alternative: "Be creative! Try to borrow, barter, shop around, buy used. And keep in mind that it won't be forever."
Having a clear idea of what our expenses will be is also known as a budgeting (I use Quicken for this but there's also MS Money. Another good resource is MetLife's webpage on Creating a Budget). Padma gave us a tutorial on creating budgets during her visit with the Mogulettes this week (listen to a quick summary by clicking below).
She suggests starting with your fixed expenditures first. Those are items you need in order to live and ones that don't change every month, like rent, health insurance and utilities. From there it gets a little tricky because you'll need to keep tabs on how much you spend for things like entertainment, groceries, clothing, etc. Compile at least one month's data so you'll have an idea what to estimate for each category. Once you know how much you spend, you'll know how much your business has to make in order to cover your expenses.
As for startup costs (my wishlist above falls under this category) keep those separate. Figure out which ones will be one-time expenses and which will be recurring. And keep them low - we need to stay as lean and mean as possible in the beginning! (Anybody have a used laptop they'd like to donate to a good cause? See me!)
Padma's other Do's and Don'ts:
- Don't be quick to incorporate or do a DBA ("Doing Business As"). Use your own name at first until you get a better idea of what the focus of your business will be.
- Do open up a separate business bank account. Figure out how much you think you'll need (see above) and either "lend" yourself the money or borrow it and place it in the account.
- Many banks won't give out corporate credit cards to startups, so another option is to designate a regular credit card only for business transactions, that way you won't go crazy looking through receipts come tax time.
- Analyze your business expenses. Ask yourself: What's working? What's not?
- Stay on top of collections. Use Quickbooks to invoice clients, and mark bills "due upon receipt". It's okay to charge a finance fee and/or late fee.
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Carmina Pérez
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Labels: budgeting, mogulettes, small business, startups, women
Monday, August 20, 2007
What's in your Mogulette toolbox?
"Women helping women achieve success" - that's the Mogulette motto, and I just got wind of a site that shares the same feeling. The Women Entrepreneur's Toolbox has the most comprehensive list of business websites and blogs for women by women that I've encountered in cyberspace so far (and believe me, I do a lot of surfing... How else would I be able to do all my procrastinating?). Aside from a link to yours truly (the Mogulette blog made it!), here's a small sampling of other sites you'll find there:
Blogs
Chronicles of a Mompreneur - I loved their recent post about leveraging your time
The Anti 9 to 5 Guide - advice for women looking for life outside the "cube"
Empower Women Now - great tips on how to make money off your website/blog
Tools
Spamato - a tool that eliminates junk email
Box - lets you store files online and access them remotely
Highrise - a contact management system with all the bells and whistles
Associations
Women 2.0 - for women that work with and in the field of technology
International Virtual Women's Chamber of Commerce - no geographic or physical boundaries!
I learned so much just by browsing this handful of sites...but there's a lot more there. Take a look...
Have a mogulific day!
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Labels: marketing, mogulettes, small business, social networking, startups, women
Wednesday, August 15, 2007
How I got on the NY Times
Great news! I was mentioned in a New York Times article this week, which was quite a thrill for me. According to the latest numbers, since it was published the traffic on my blog is up by 55%! I thought I'd share my story, for all those Mogulettes looking to spread the word about their fabulous but still unknown products and services. So here's how it happened: A while back, one of my friends sent me a link to a NY Times article which I
found very interesting, so I emailed the author, Marci Alboher (that's her on the right), to compliment her on it. That gave way to further correspondence between us, and the timing couldn't have been better. It just so happened she was in the midst of writing an article about how blogs are useful in job transitions for her column, Shifting Careers, so she asked to interview me for the piece. Of course I said yes (I was ecstatic!). Blogging Your Way to Business was published this week and I've been busy telling everyone that I know in the whole wide world about it since then.
Living the "slash" life
Marci writes about entrepreneurship and career transitions in her column as well as her blog, although the latter is more focused on her life as a "slash" - one in which she juggles multiple career tracks (in her case it's author/journalist/speaker). She talks more about it in her book One Person, Multiple Careers. The "slash" life fits in very well with the Mogulette concept. I'm shooting for writer/startup coach/speaker. What kind of slasher are you, or would you like to be? Tell me about it!
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Labels: branding, marketing, mogulettes, New York, public relations, small business, startups, women
