An Introduction to the WBOS
Illinois workNet Webinar
Join the conversation on Twitter with #ILworkNet
Meet our Guest Panelists and our Host
Meg Herman, PCC
Director of
Entrepreneurial Services
Women’s Business
Development CenterChicago
Meg Herman is Director of
Entrepreneurial Services. In an effort
to promote outreach and develop
new learning opportunities, Meg
connects clients with WBDC
counseling and training services.
Meg also works to maintain strong
relationships with affiliate
organizations to provide resources
for start-up and established
businesses.
www.wbdc.org - website
www.WBDCchicago.wordpress.com -blog
Joanne Tica Steiger
Director of Business
Support and Alumni
Services - Goldman Sachs
10,000 Small Businesses
Initiative - Chicago
DeTonia Gooden, MBA
Business Services
Specialist Southern Illinois
University
Center for Workforce
Development
Throughout her professional career,
Joanne TicaSteiger has provided
professional consultation and mentoring
for business owners related to the
development of their professional
ventures.
DeTonia Gooden is the newest
member of SIU’s Center for
Workforce Development team and
is based at the Department of
Commerce and Economic
Opportunity (DCEO) in Chicago.
Joanne maintains a private consulting
practice and focuses on teaching
strategic leadership skills and
organizational change management for
a number of start-up and established
businesses throughout the Chicago
metro area.
As the Business Services
Specialist, DeTonia facilitates the
implementation/integration of
Illinois workNet and related
websites, applications, and mobile
device apps in the daily processes
of our workforce, education, and
community organization partners.
www.ccc.edu/smallbiz
Illinois workNet WBOS Webinar
Twitter - #ILworkNet
www.illinoisworknet.com
WOMEN BUSINESS OWNERS
BEGINNING STEPS AND STRATEGIES
FOR CREATING AND GROWING YOUR BUSINESS
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Presented by Joanne Tica Steiger
Director of Business Support & Alumni Services
Goldman Sachs 10,000 Small Businesses Initiative - Chicago
WOMEN BUSINESS OWNERS
A MAJOR FORCE IN THE US ECONOMY




7.8 million U.S.
businesses are owned by
women
Women start businesses
at twice the rate of men
Women owned
businesses represent 1/3
of all non-farm
businesses in the US
Generate revenues of
$1.2 trillion annually
and employ 7.7 million
people
4
5
FIRST STEPS
6
AR
•Women start and operate businesses
in every US state.
•The metropolitan areas of Chicago,
Los Angeles and New York City have
the highest number of women owned
businesses.
•The top five industries for women
owned businesses are shown in the
chart (left).
7
HOW DO I DECIDE WHICH
BUSINESS IS RIGHT FOR ME?
Ask yourself these
questions:
What am I passionate
about?
 What inspires me?
 What do I know a lot
about or what am I an
expert in?
 What problem am I
solving for others?

8
CREATING A BUSINESS PLAN
9
DO I NEED A BUSINESS PLAN?
The simple answer is
YES!
Every business –
small or large – needs
a business plan.
 The business plan is
your playbook. It tells
you what needs to be
done to meet your
business goals.

10
HOW DO I WRITE A BUSINESS PLAN?
Start with a short document and discuss how you
will create and execute your business strategy.
Answer the following questions to get started.
11
WHAT …
will I produce
and sell? Why
am I qualified
to provide this
product or
service?
12
WHO …
are my
potential
clients and
customers?
How will my
product fill a
need for my
ideal
customer?
13
HOW MUCH …
will it cost me
to deliver my
product to the
market? How
much will I
charge for my
product? Can I
make a profit?
14
HOW …
will I sell and
market my
product or
service to the
clients that I
want to reach?
How large is
my potential
market?
15
USE YOUR BUSINESS PLAN
TO COMMUNICATE YOUR VISION
Share your strategy,
priorities, and specific
action points with:
o your spouse,
o your business partner,
o your significant other,
o and your stakeholders
to build momentum for
the future success of
your business.
16
Thank you for participating in this webinar.
As your business grows and you begin to
hire employees and grow your annual revenues to
$150,000 or more, the Goldman Sachs 10,000
Small Businesses Initiative would love to speak
with you about applying for our free leadership
training program in Chicago.
10,000 Small Businesses Chicago
www.ccc.edu/smallbiz
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Your go to gal:
Meg Herman, PCC
Director of Entrepreneurial
Services
[email protected]
1
WBDC
The mission of the Women’s Business
Development Center is to provide services
and programs that support and accelerate
women’s business ownership and strengthen
their impact on the economy.
2
How does the WBDC serve?
WBDC helps to address issues facing women business
owners:
•
•
•
•
•
Access to markets
Access to capital
Access to information & resources
Access to advocacy to affect change
Building skills of business ownership
3
Advocacy
• Advocating for women’s economic and
business development, both locally and
nationally.
• Creating public policy and systems changes for
women’s economic empowerment.
4
Entrepreneurial Services
•
•
•
•
•
•
•
•
•
For Start-Ups and Established Businesses
Workshops, webinars, and online on demand
Group Counseling
Individualized Business Counseling & Coaching
Access to Capital and Microloans
Certification as WBE
Government contract ins and outs
Support for Women Vets as Entrepreneurs
English and Spanish
5
The Business Seat
Product/Service
Market
Money
6
Mission/Purpose
What’s the purpose of your business?
Build on this statement:
– We provide (services/product) for (target)
through (what you do),
– because (why it meets the needs of your clients,
solves a problem, fills a gap).
6
Getting started
Spend time thinking about what you know
already about your business:
• Purpose and Vision
• Product/Service
• Client/Industry
• Money
Review our website: www.WBDC.org
7
How do you want your
business to serve you?
• Hobby?
• Lifestyle?
• Growth?
8
How do I find clients?
• How do you identify the best fit clients?
• Where do their eyes go?
• How do you reach them?
9
What do you know…
• about the industry of the business you are
in/want to develop?
– Who buys this kind of thing now?
• about their demographics and lifestyle
preferences?
– How can you find out if you don’t know (local/university
library)?
• Who’s competition?
– Who meets the same need/solves a similar problem, but in
a different way?
• How will you be different from either what or how
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they offer it?
The Reach
• How do people get to your website?
• How targeted is your networking?
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• You have to learn who will be your best
clients so you know how to reach them with
marketing strategies and collateral.
• What’s collateral?
• What are strategies?
• What’s most likely going to be the best
strategies for starting a small business?
12
Show me da $$!
• Do you know where your money goes?
• How do you project cash flow and sales?
• For tools and learning, visit our website
– www.wbdc.org/startups/financials
13
Your Growth is Our
Business!
WBDC
8 South Michigan Ave., 4th Floor
Chicago, IL 60603
www.WBDC.org
312.853.3477
Facebook.com/WBDC.chicago
WBDCchicago.wordpress.com
Twitter: @WBDC
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Thank You for Attending!
• Register for the symposium here:
– http://www.ildceo.net/WBOS/
• Watch for the post of this webinar on
– www.illinoisworknet.com
• Watch for information on our upcoming webinars on
our social media links:
Illinois workNet WBOS Webinar
Twitter - #ILworkNet