Roundtable Responses: Starting a Business

Posted by: Katie | Posted on: March 25, 2008 | Comments 29
“Is it the right time to make the leap and get my idea for a business off of the ground?”
“How do I know if my concept is good enough?”
“What resources are out there to help me?”
“I’ve gotten the ball rolling – now what?”
“Where can I find other people who are in the same situation as me to share stories and advice?”

You’re not alone in wondering, and we’re sure you have a million more queries about starting your own business. (We do too!) Until we have our expert contributors geared up to share their wisdom on the complete fwm site, I’ve asked a few of my fellow fwm staffers to share their perspectives on starting a business.

Our angles are as different as our personalities: Carolyn and Jen are already well into the process nurturing their business idea from a tiny seed into a flourishing flower (a.k.a. this website!), Renata had a yen to open a bakery/coffee shop, Lauren is a freelance writer (she is her own business), Viviana wonders why anyone would want to start a business, and I not-so-secretly dream of being my own boss.

Come back every day this week and you’ll find a new post on our hot topic of the week. Our hope is that not only will you get to know our team a little better, but maybe you’ll also identify with one of us and find some snippet that helps you keep moving forward. Or, of course, your situation could be completely unique to you! As always, please share.

Related tags: entrepreneurship

29 people have responded so far. Add your comment below.
Viviana said:
03.25.08 8:15 p.m.
Katie, I had to laugh when I saw my comment up there! :-) Yes, it's true...I was not born with the gift of entrepreneurship as some of you ladies are. I've traveled the corporate road until only recently, and it's been amazing to branch out and look at work in a different way. Working with people who have a passion for a great idea is contagious and once you do it, you wonder why you ever had any fear of "taking the leap." My dear Renata---I had no idea! A bakery/coffee shop? That would be perfect! I can picture what you would create, and it would be elegant yet warm and welcoming...like you.
Alexandra said:
03.25.08 11:21 p.m.
Hello everyone! I love this blog by the way, it's a great way to share ideas...anyway, I think you can be confident about a concept if you feel passionate enough to make it work. It has to be all you think about and it has to make you happy...that's the whole point of entrepreneurship isn't it? Doing something you love instead of just going through the motions while you're stuck in a cubicle. And it's ALWAYS the right time to make the leap...if not now, then when? I started my jewelry business, http://www.ByMeJewels.com, about a year ago and I'm loving every minute of it!
Barbara Davis said:
03.26.08 1:23 a.m.
Viviana, I love the way you write. It sounds like you are talking. I had no idea you were a corporate girl. You have a lot to offer the entrepreneurs out here - believe me! I started my own graphics firm / ad agency when I was 24. I had never worked full time for an ad agency before and had no idea what I was doing. I just worked hard and if I didn't know the answer to something, I asked until I found out the answer. I plowed my way through until I was successful. However, if I had it to do over, I would have worked for an ad agency or graphics firm first and learned "how to do it" on someone else's nickel! I am counting on this site making my new venture easier! Networking is definitely the way to go. It's not what you know but who - someone reading this may have the answer or a contact for me (and for others) that may be just the right person or information to "Make it happen!" Thanks to you all!
Emma said:
03.26.08 5:20 a.m.
I love this blog, it really feels like a personal conversation with like minded women. I suppose with my business i definitely followed my passion and what i think is a great new idea. property portal with SMS service and mobile internet. I love property and I am addicted to the internet. The 2 go beautifully together. The sms idea is brand new and definitely is a win win situation for estate agents and buyers. The whole thing is so much work, I have had to fight hard to keep the momentum going and brush off doubts from others (even supposed friends). Now the business is live, I work every spare second I have - as I am also a mother of 3 young children this is a challenge but very rewarding, hopefully it will be financially rewarding also... Good luck to you all Emma
mona said:
03.26.08 9:44 a.m.
Emma, It's so great to hear that you followed your passion. Tell me how did you stay focused when even your friends doubted you and where did you get the inner strength from? I too have 3 kids and I find everytime I come up with an idea I look at them and hesitate in pursuing such things... because it would entail being away from them! I am very grateful for this blog I feel like finally a place to be myself without being judged! I look forward to your advice. Thank you.
Dorinne said:
03.26.08 9:50 a.m.
Hello everyone!Pursuing something you love is vital in order to keep the momentum going. I love Renata's idea.I have a diploma in baking and wanted to become a pastry chef. I was sidetracked by marriage and raising two children. I do not regret it, I cherish it. Now they are in their twenties and I can pursue my dreams. I have combined cooking, baking and jewelry making into a 1 day a week business at a local farmers market.While it is only one of my four jobs, it is the most enjoyable. I am hopelessly devoted to being self-employed. The reason,is the freedom to explore my creative nature.I also know I need a structured job as well, if I have to much time on my hands, I don't get much done, plus I need reliable income to fund my home-based business. It is true networking is extremely important, I have learned to absorb the info. then make decisions based on what feels right for me and my goals.So,ladies keep up the good work and keep the lines of communication buzzing!
Sandra said:
03.26.08 11:17 a.m.
Thank you Viviana for directing me to this blog. I have dreams of being my own boss, but am so filled with self doubt about achieving it. There is so much out there to do, but WHAT to do, how to start it and get it going..that is the hard part! I think that networking is the key...having like-minded people surrounding you and encouraging you..and I am already encouraged by reading these posts..THANK YOU Ladies :) I am in a situation right now where I NEED cash income, so I have to start a business of some sort,..and I am so glad to be involved in this forum because I do believe it is going to help me achieve what I need to. I am looking forward to being a successful entrepreneur!
Renata said:
03.26.08 11:21 a.m.
Helloooooo, ladies! Well, isn't this just a whole lot of wonderful -- chatting about what really matters to us... Dreams, passions, family, tenacity, community. What I love most about what we're doing here, is the honesty and candor in it all. And while you won't see me opening my bakery/coffee shop anytime soon (I like doing this too much), you will find me here, enjoying one of the things that drew me to the idea of a coffee shop in the first place: good company and engaging conversation. That just leaves the coffee. Easy enough. For the sake of rounding out the whole "coffee with friends" experience, let's just say that, here, it's byom (bring your own mug). So go grab yours, and join in the dialogue!
Dorinne said:
03.26.08 4:07 p.m.
Sandra, I also had the problem of not knowing what to start with! I collected books on arts and crafts for years, one day, I reached in my bookshelf with my eyes closed, grabbed a book and that's how I started! I gave myself to many options to start with and it delayed my beginning. I always knew I needed to do something creative because I get antsy if I don't create. One thing I like to do is walk around various shops and look at what they have and most importantly, what they don't have. Then I fill the need, seems to work well! With my jewelry I offer custom fitting and design. I feel it is also important to offer high quality items, don't cheap out, customers know when something is not crafted with care. I have built an excellent reputation for high quality jewelry and food. I can tell you will find just the right thing to begin with and it be rewarding!
Lea said:
03.28.08 10:19 a.m.
What an opportunity to share ideas with others who are equally passionate about their work! I have a dance school, and struggle balancing work life! I have two little ones, a full time job, performing, teaching, and running this small business! I am a sole proprietor and wanted the business to begin small and cautiously, not having resources to obtain capital/ investors. My accountant says, “you cannot afford a hobby.” Competition here is challenging, other schools have large client bases. However, what these clients don’t realize is how proper training is critical whether you are a recreational dancer or professional! My organization performs at charitable galas and community events to help educate on the “difference” in our services and passion to give back to the community through the gift of dance! It’s difficult seeing other organizations with poor quality succeed where I struggle. Dance is my passion and not having it in my life would be tragic. Any words of wisdom?
jen marr said:
03.28.08 11:23 a.m.
Can I just say how wonderful it is to see a dream begin to unfold? We are just taking baby steps now, but you are what this is all about and just wait until you see our full site! We all go through so many transitions in our careers and lives and you know what? It is ALL good. Lea - you remind me a lot of myself and I think your post is very telling. #1 Take the advice of all of those closest to you. If your accountant is worried about your "hobby" - listen to him, but don't let it stop you. #2 Don't quit your day job until you are sure you can make it work. #3 Be creative in achieving your dream. Maybe as a start you can partner with an organization that would LOVE your help and insight into the importance of proper training. Neither Carolyn nor I on our own could have formed this company - and let me tell you working with a partner can be a lot more fun! #4 Never give up your dream - you CAN make it happen. Just be creative, savvy and stay focused on "what matters". jen :)
Viviana said:
03.28.08 2:05 p.m.
@Lea, thanks for linking to your website--it looks amazing!
Barbara Davis said:
03.29.08 9:05 a.m.
I am anxiously awaiting the launch of the site and the opportunity to get answers to questions I have had for years. It's hard being out here alone wading through muddy waters! That is what is most stressful. This site sounds like it is going to be an answered prayer. Already, emailing back and forth to Viviana and reading the BLOG, I feel like I have a new set of friends that do want to see me achieve my dream of creating products for manufacturers that fill a need in the market. I can't wait to hear what the panel has to offer! Thank you! You are awesome!!!
Sookie said:
03.29.08 9:59 a.m.
I love to see that this site has people actually talking about business and not about how to get rich quick. I started my own business 2 years ago this June. I have 3 children and work as a manager in the store for many years. I saw the need of customer service and personal service so I started the business to go to the clients home and do the jewelry appraisal in their homes while the watched. I have found that in finding my nitch it is hard to advertise(since I travel throughout the US) so in starting a new business that you love and is unique you have to think outside of the box for advertising because it gets very expensive to do so. I guess what I am saying NETWORK!!!. I love what you all have said.
Lea said:
04.01.08 9:09 a.m.
I agree with Sookie! I think many of us want to be financial secure but the priority is to do what we love and what we are passionate about with a high level of personlized customer service! Networking is always key in any line of business -- it's your personal reputation that helps gain clients. Sookie, 85% of my clients come to me via Internet searches, so no matter where you travel you can still have a "virtual storefront" as a gateway to your unique services!
Jessica said:
04.03.08 2:33 p.m.
This is a breath of fresh air! Intelligent well rounded women who have something important, inspiring, and relevant to say! I am only 25, but I envy you ladies who manage to keep full time jobs, raise a family, and have a side project you are passionate about. I am working on a small business idea of my own that I REALLY believe in. I just need to maintain my patience and realize that Rome wasn't built in a day, and neither is a new business. Good luck to all of you! Whoever said that "its a mans world" couldn't be more wrong. Its definitely ours for the taking.
Quinisha Watkins said:
04.03.08 3:37 p.m.
I love how empowered women can talk about something together and not engage in a cat fight. Jessica, I'm also 25 and understand how you feel. To all of the women who have started their business, how do you cope with the stress? Also, how do you manage to keep it flowing and did anyone have to move in order to pursue your dream business?
Quinisha Watkins said:
04.03.08 3:46 p.m.
Did anyone feel afraid when you first started your business? What was the first thing some of you did in order to get the ball rolling?
Dorinne said:
04.04.08 9:46 p.m.
Quinisha... yes fear is part of being self employed. Knowing that you are the only one responsible for the cash flow to the business can be terrifying. When I want to start a new business or expand one, research is king! I started with local stats, found out age and income levels. What local businesses there are so I would know the personalities of my market. Then I pick a target market and research their spending habits. Thank goodness for the internet! Besides, I hear and have conversations while at the farmers market, surprisingly people tell you what they want, then I fill that need. I heard something today that clicked and sounded like there was a need I could fill. Keep an open mind about possible opportunities, you never know what direction they can take you!
Viviana said:
04.07.08 9:45 p.m.
@Dorinne, thanks for bringing up the vital tasks of PREPARATION and LISTENING. When you ask your customers and potential customers what they want, I think you will always hear something surprising. And yet--so many businesses, large and small, don't think to ask because they assume that they already have all of the answers.
Dorinne said:
04.08.08 10:55 a.m.
Heaven forbid! I am so new to this game and I am working with people that have been selling at markets for over twenty years. I ask questions and listen to their wisdom, it saves me time, energy and money by not pursuing something that will not work for this area. That's why learning and listening are so important, it helps direct your energies in the right direction.
Dorinne said:
04.09.08 5:34 p.m.
I am going to share something with you that I thought was interesting. Last year when I began researching what people wanted for the outdoor cafe, they told me coffee flavored coffee. I thought that was funny! Now I see that Starbucks is offering an everyday cup of coffee! By listening to the public I knew that a year ago and I did not spend millions on research and development! A good lesson, I thought!
Sookie said:
04.12.08 11:37 a.m.
One of the first thing I did to start my business was research, then hire the professionals in those areas I couldn't do or understand. I am one person who only can wear so many hats, I found my strong points and hired for my weak points.
Viviana said:
04.12.08 1:54 p.m.
@Sookie--I agree with your excellent advice. I am good at business, customer service, management of people, and operational issues. I am poor at finance and accounting. It's good to know where your talents lie, and where they do not, and I think this would make a great blog post in itself. Carolyn writes about this concept in her book.
Dorinne said:
04.13.08 2:09 p.m.
Are there any other legitimate grants out there? Thanks.
Dorinne said:
04.15.08 4:08 p.m.
I am curious, have the winners been chosen yet?
Viviana said:
04.15.08 4:55 p.m.
Hello, Dorinne--Not yet!! They will announce finalists at the end of this month.
Dorinne said:
04.16.08 12:58 a.m.
Thanks Viviana, you have been so much to talk to! I'll be honest, I really want to win a grant, I can even taste it! I noticed no one else mentions it. We women are to polite! I would love to expand my businesses into what I always dreamed they could be. If I am not chosen, the dream continues, just at a much slower pace! I don't believe in giving up. Rose colored glasses, that's how I view it! I love what I am doing, I am excited about the grand opening! It will be featured in the local paper. Right now I am busy wrapping up the winter market, helping my daughter get ready for her wedding and preparing for the summer market. No time to be tired!
Dorinne said:
04.16.08 12:54 p.m.
Wow, the news is scary today! Looks like we are about to experience a major shift in how we view basic necessities. Now I am even more determined to educate people on living a lifestyle that is almost non existent. I see to many farms crumbling and a once proud tradition of growing your own food being lost to retail shopping centers. We don't need more stores, we need food to feed families! I read an article that said high gas prices force people to shop locally. This an opportunity for our market to provide diverse products and services so our customers do not need to travel all over to get them. Does anyone else feel the pressure? How are others coping with skyrocketing prices?
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