News From Terre Haute, Indiana

Local & Bistate

Discussion

Welcome to our online comments feature. We welcome your thoughts and your opinions, including unpopular ones. We ask only that you keep the conversation civil and clean. We reserve the right to remove comments that are obscene, racist or abusive and statements that are false or unverifiable as well as posts that are attacking other users. Repeat offenders will be blocked. You may flag objectionable comments for review by a moderator.
comments powered by Disqus
July 8, 2010

Lieutenant governor brings women’s business seminar to Valley

Howard Greninger The Tribune-Star

TERRE HAUTE — Small business owners represent Indiana’s best hope for economic rejuvenation, Lt. Gov. Becky Skillman said Wednesday while serving as keynote speaker for an “Advancing Hoosier Women in Business” seminar at Ivy Tech Community College.

It is the fourth year the seminars, sponsored by the Indiana Small Business Development Center and Indiana Office of Community & Rural Affairs, have been held and the first time in Terre Haute, said Anne Bell, spokeswoman for Community & Rural Affairs..

“We have an army of small business owners throughout the state. More than half of our private sector work force is employed in small business,” Skillman said of the 600,000 Hoosier small business owners. “At these seminars, we attempt to link our female entrepreneurs with other people and resources that they need to be successful.

“The number of women [small business owners] is indeed growing,” Skillman said, adding that Indiana now has 1,500 certified women-owned businesses. Certified businesses can obtain state government contracts to sell products to the state.

“It is all about having the confidence to not only help your existing business thrive and grow, but for women, some of them who have a dream of starting their own business, just need a little expertise and encouragement,” Skillman said.

A five-member panel started the seminar with tips from Terre Haute women business owners and leaders. About 60 women attended.

Samantha McGranahan, owner of The Roxy Studio, suggested five ways to be successful.

“Attitude is everything. It is being excited and confident, having a good attitude and creating a positive experience. I feel a negative attitude can be picked up by people,” she said.

In addition, “Under-promise and over-deliver. It is industry standard to have photos in four weeks, but we work to get them in two weeks,” McGranahan said.

Third, be visible, especially online, McGranahan said, as many people shop using the Internet and communicate on social Web sites.

“When someone does a Google search, you will be overlooked if you don’t even have a basic Web page,” she said. Facebook can also be beneficial, using a blog, to let people know what the company is all about.

“It is free, there is no advertising to pay for, just the time to do it,” McGranahan said.

Also, brand your business, both in person, online and in print materials. Finally, focus on your niche market. “Focus and create your efforts that you can market for your business,” she said. McGranahan now focuses on weddings and children’s portraits. Still, she can do other photo work as well, but her main marketing focuses on those two areas.

Ann Marie Foote, account executive for MillerWhite and former director of public relations at St. Mary-of-the-Woods College, said perhaps the best advice is “if you ever get into a position where you are saying ‘why,’ instead of ‘why not,’ you need to take a vacation.”

It is best to think “why not do that or this,” instead of “why would we do that? Don’t ever get so comfortable that you are unwilling to try something new,” Foote said.

In addition, make sure people want what you have to sell, Foote said. As example, she said her father, after retiring in the 1980s, bought a video store business. “That is a great business to have in the 1980s, but I can’t imagine somebody wanting to open a video store today. Make sure what you have is what people want,” Foot said.

Also, think differently. “If you remember a campaign from Apple and MacIntosh computers in the 1990s, they had the whole campaign about ‘think different.’ They were showing they had computers with different colors. Every computer before that was beige or black. Just because your competitors are doing something, don’t do it, be different. Think what you can do that is different than everyone else.”

Also, be responsive and return phone calls and e-mail. “We live in a world of instant gratification,” she said.

Molly Barrett, retail product specialist for Fifth Third Bank, suggests closely monitoring financial statements and developing performance indicators to determine how your business is performing. Also, diversify your business.

“If you are a small business owner and have two or three main customers and one of those customers goes away, it will hurt,” Barrett said.

Also, find out what competitors are paying employees to remain competitive.

Terre Haute attorney Lakshmi Reddy started her own law firm, Reddy Law Firm LLC, in September. Most recently, from 2003 to 2009, she worked at the Terre Haute law firm Cox, Zwerner, Gambill & Sullivan.

“Decide in advance what is important to you. There are differences between daily and business priorities. Business priorities are about strategy and growth, while daily priorities are the tasks that are important that day to generate income,” Reddy said.

“Think about money, where it is coming from, are there time patterns – certain times of the month or year when there is more cash in-flow and certain times when there is more cash out-flow? Also how you save money and re-investing it,” Reddy said.

“You have to re-invest in your business if you want it to grow. It is not all about having the best gadgets; you really have to think about re-investing so you can be more efficient and make more money.”

Reddy also emphasized paying attention to current customers, moreso than to new customers. “There are studies that show it takes 5 to 12 times more money to attract a new client than to keep a current client. Keep them happy and they will refer you business, and it is a lot cheaper,” she said.

Kristie M. Sturgeon, plant leader for General Electric’s Unison Engine Components and Tri-Remanufacturing in Terre Haute, said leadership is important in business.

Sturgeon said leaders need to determine their purpose, leadership style, business and key to success.

“Be generous and share your success. For me, mentoring is a very, very key part of my responsibility. I probably mentor four other female leaders across the business,” Sturgeon said.

One key aspect is to make others want to be on your team. “If people are picking up the phone to call you to say, ‘Can you help me with this or can you be a part of this?,’ that is a sign of success that you are doing the right thing,” Sturgeon said.

In your management style, “You are who you are; you can’t change your personality. Be authentic and own it. That is what you need to portray to your business and your team,” she said.

In addition, Sturgeon said to have a vision. “Have the courage and stay true to it; be a maniac in following it. You got to have that conviction to stand up and carry out your vision,” she said.



Howard Greninger can be reached at (812) 231-4204 or howard.greninger@tribstar.com

Text Only | Photo Reprints
Local & Bistate
Latest News
Multimedia

Like us on Facebook!
Community Calendar
Loading…
Events by eviesays.com
TribStar.com Poll
Join the Conversation
Helium
Front page
AP Video
Recording Superstar Whitney Houston Dead at 48 Police: Houston Found Dead in Her Hotel Room Palin Brings Anti-Washington Message to CPAC Maine GOP Chairman Says Romney Wins Caucuses Obama Scraps Birth Control Mandate Fans 'Speechless' Over Houston's Death Raw Video: Deadly Blasts in Syria Androgynous Model Walks Runway As Man and Woman US Airmen's Killer Sentenced to Life in Germany Snow Strands Italian Towns Latest Jason Wu Collection Shows Chinese Roots ShowBiz Minute: Madonna, Beresford-Redman, Pawsc Navy Names Ship for Gabrielle Giffords Raw Video: Rough Seas Stop Oil Removal 5 Killed in Wrong-way Crash on I-10 in La. Uzbek Man Pleads Guilty in Plot to Kill Obama Stars Show Support at AMFAR Charity Gala The Pits: Israelis Spit Olives for Glory Winter Slamming North Asia, Parts of Europe Raw Video: Italy's Mount Etna Bursts Into Life
NDN Video
Recording Superstar Whitney Houston Dead at 48 Fans 'Speechless' Over Houston's Death Romney Tops Santorum in CPAC Straw Poll First glimpse of Blue Ivy Carter Absolute Lin-sanity Hate to be Rude: Bubba Watson Peek inside Barbie's closet Test on Comforter in Powell Unit Shows Blood Angry Dad Shoots Teens Laptop Hero Driver Saves Kids From Burning Bus Funeral to be held for Powell boys Sandusky on having to stay inside and people turning on him Uzbek Man Pleads Guilty in Plot to Kill Obama Woolly Mammoth Caught on Camera? Did JLo 'Assault' Marc Anthony on Camera? Christie Brinkley's Runway Slip Toddler forced to run half-naked in snow Halle Wants to Leave the Country Northern Lights shine above earth Plane makes perfect belly landing
Parade
Magazine
Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
  • -

    March 12, 2010

activity
Real Estate News