Business Advice for Women

Audra Lowe: The women business owners retrieving and that’s recording the one expert who shares five tips with Rhiannon for women to take there business to a whole new level. Rhiannon Ally: They’ve got style and love to shop so longtime friends Pam and Laurel decided to take a chance in business on Peonies and Up Scale confinement in Connecticut. Pam Williams: Being able to provide the service to women where you can create another generation out of close, it really it’s an exciting. I think it’s exciting from that perspective. Rhiannon Ally: That fashion took the idea to reality but Pam and Laurel still had plenty of questions. Laurel Peters: How are we going to get this all started and how long is going to take and you know are we are going to be able to open the doors a certain time? Rhiannon Ally: Nell Merlino the CEO of Count Me In says, researching your idea is critical. Nell Merlino: And the first thing is to know whether you have something that people want to buy. Rhiannon Ally: Do a lot of people think they have some they really don’t? Nell Merlino: Yes, yes. Rhiannon Ally: Okay. Nell Merlino: Well they may have something that family really likes with there friends but when it comes actually selling it sometimes you can’t sell it to making up money for to be worthwhile business. So you need to check it out, you can do that by going to trade shows, you can do that by talking to somebody’s who is on the same business to see how they’re doing and what of revenue they’re making. So make sure you can make money if they have a product people want to buy. Rhiannon Ally: Nell says, even if you start small have a big vision. Nell Merlino: Entrepreneurs are problems solvers. So what problem are you solving for people? Whether you’re you know making a new thing for a car or your making clothing with bill crow say for kids if the people with disabilities. What is it that you’re doing that is going to solve the problem and how do you invasion it being you know solve in your state or in your city or around the country or around the world. Rhiannon Ally: Do you want to just double check this price? Pam and Laurel open there store last year. They said, going in the business together was a no brainer. Pam Williams: You know you want to find somebody instantly who brings different skills. Who brings a different mind set who’s willing to push you and I think that’s why our partnership is so great. We don’t have to think about it, we compliment each other. Rhiannon Ally: Nell Merlino says, you don’t need a partner to be successful but you should ask for help from people you know. Nell Merlino: A lot of women particularly go into business and they want to try to do everything by themselves. Because we do that at home so much we multi task. Rhiannon Ally: We are superwoman. Nell Merlino: Yes, you take that into a business, there is only so much money you can make working by yourself so it’s important to start to think about bring you people and even if it’s all or somebody on the project basis or something like that to see how it would be to have somebody working with you regularly. Rhiannon Ally: Focus on the day to day business but don’t loss control of your finances. Nell Merlino: So many people only look at there number when they want to file there taxes or when they get into trouble as oppose to make friends with your financial information. It’s not a good thing or a bad thing it’s just information and it’s another story, is why we go into business two is to make the money. So, understand what is happening with your money? How were you making money? Why are you losing money? And then if it’s good or bad it’s just you need to look at it. I’ve seen it and to have to look to your financials at least once a month. Rhiannon Ally: Nell’s last tip is to go after it and remember failure is not final. Nell Merlino: As an entrepreneur it is important to keep going for, you have to learn from your mistake but learn and don’t wallow on them, don’t just keep thinking you’re bad business person or bad person because you made the mistake. Use it to your advantage and move forward. Rhiannon Ally: Whether it’s opening a cute consignment store like Peonies with your best friend or something else. Nell says, any women can do it. For Better I’m Rhiannon. Audra Lowe: And you will find the link to count me in our website, bettertv.com, well be right back.