Women in Charge Visits Miami

Attendees of the Women in Charge conference in Miami Beach, Florida rushed to hear Entrepreneur columnist and internet entrepreneur Rosalind Resnick teach the breakout session, The Money Game: How to Get What You Deserve.

“If you want to take your business to the next level, it’s not enough to fly by the seat of your pants,” Resnick said. “You need to do the math to create a profitable and scalable business model and raise the capital necessary to execute your strategy.”

Resnick, an internet business pioneer and author of Getting Rich Without Going Broke: How to Use Luck, Logic and Leverage to Build Your Own Successful Business defined debt financing and equity financing. Debt financing--bank loans, home equity loans, bank lines of credit and the like--is funding you must pay back. Equity financing is selling a piece of your company to investors for cash. They control a percentage of your company and have a stake in the revenues.

Resnick also defined the rules of venture capital, encouraging attendees to study any VC firm they approach as well as learn the merits of the term sheet before signing on the dotted line. She reminded entrepreneurs that a deal should be beneficial to both sides before signing.

Writing a solid business plan that includes impeccable financial figures is key to receiving any funding though, she noted, so entrepreneurs should spend a lot of time on this step. “[Build] a solid business plan with a bullet-proof financial model that can pass muster with even the toughest bank or investor,” she said.

Finally, Resnick opened the floor to questions from the attendees who asked how to connect with angels and investors as well as how much a small business can expect to pay for financial consulting. She answered all the questions and even spoke one-on-one to entrepreneurs after the session. Using the strategies laid out by Resnick, entrepreneurs should be prepared for anything.
--Nichole L. Torres

Let’s face it. Good marketing tactics are essential when it comes to getting your business to stand out from the crowd. So it came as no surprise that the room was jam-packed for Catherine Seda’s session on "Low-Cost Marketing Tactics" at the Women in Charge conference sponsored by OPEN from American Express and Entrepreneur magazine that took place on Tuesday in Florida.

Seda, an internet marketing veteran, had a big task in front of her. She had been given a PowerPoint presentation that consisted of 20 marketing tactics prepared by Kim T. Gordon, author and Entrepreneur columnist. Gordon had intended on presenting the information herself, but when she fell ill shortly before the conference, the logical person to pass the baton to was Seda.

So, with the help of Gordon’s slides, Seda presented invaluable information to a room full of rapt listeners. The first task at hand for all entrepreneurs is to develop a unique point of differentiation for your business, she said. After all, it’s much easier to market your business when you have distinct reasons why customers should pick you over your competition. Audience members shared their points of differentiation with others. High quality, same-day service and discounted prices were just some of the factors that attendees came up with.

Seda went on to discuss the use of search engines, online directories (which are free in most cases), print directories and newspapers as effective ways to attract new consumers. She also addressed how effective a good website can be and offered tips on how to run a great e-mail campaign by personalizing the correspondence and using an e-mail marketing service. And, in addition to a plethora of other tactics, she discussed how to create buzz around your product or service by getting people to talk through contests, news stories, free trials and events.

Marketing is essential, but it doesn’t always have to break the bank. By thinking creatively, entrepreneurs can stand out and make it big with some very simple tactics.
--Sara Wilson

I'm back from Miami and ready to share some insight with those of you who were unable to attend Entrepreneur's fabulous Women in Charge event, sponsored by OPEN from American Express. The first session I attended was "Internet Marketing: Secrets for Success," led by Catherine Seda. Seda, chief internet strategist at Savvy Agency, has spent almost 13 years specializing in internet marketing. She had a jam-packed agenda for our hour-and-a-half session, and was able to cram just about all of the information in.

One thing Seda touched on was how to write an effective press release. I agreed with the comments she made, because as a member of the media, I deal with press releases on a daily basis. Seda recommended that business owners write press releases like articles, the way a journalist would. She suggested distributing press releases through websites such as PRWeb and Newsforce. A specific, detailed press release offering facts, survey results or even statistics can make the difference between whether I press delete or whether I save the pitch in my file.

As for blogging, Seda suggested that all business owners try to contribute to a blog as often as possible. If it's too much for you to keep up your own blog, try posting comments to other people's blogs. "Search engines love blogs," says Seda. "I'm not a tech person, but I can blog!" Seda recommended sites such as Blogger, WordPress.com and TypePad for creating your own blog. She said both Blogger and WordPress.com are free, while TypePad charges a fee each month.

Overall, the number-one rule Seda suggested in search engine optimization to get free traffic is relevancy. "Think about how to be a specialist in your field--differentiate yourself," she said. Seda asked all the entrepreneurs in the room to raise their hands for how many pages they scour when they research a certain phrase or keyword on Yahoo! or Google. The majority of participants put their hands down after page 2, and just about everyone had their hands down by page 3. So, as Seda pointed out, the right words can make the difference between coming in as a top 30 hit on a search engine or being ignored. For more information on how to find the right words to get your business traffic, check out Catherine Seda's newest book, How to Win Sales & Influence Spiders.
--Kristin Edelhauser Chessman

Networking Tips from Women in Charge
Posted 1/31/2008 5:20:00 PM

After invigorating speeches from Rieva Lesonsky, senior VP and editorial director for Entrepreneur magazine, and Adela Cepeda, founding partner and chair of Alta Capital Group LLC, as well as owner and president of municipal advisory firm A.C. Advisory, the energy was electric at the Women in Charge conference on Tuesday. But the day had just begun and, in the first of three sessions, I had the honor of sitting in on Jennifer Kushell's presentation, "Work Your Network." As co-founder and president of YSN.com: Your Success Network and the author of Secrets of the Young & Successful, Kushell shared her insight into the exciting--yet intimidating--world of networking.

Kushell has a gift for networking with tens of thousands of contacts, and she gives all the credit to her mom, who talked to everyone. But for those to whom it doesn't come quite so naturally, Kushell offered some good tips.

First she asked attendees, "What's your story?" and showed the importance of a well-written bio that highlights one's background or experience. She said we all have to market ourselves, and that entrepreneurs should do so by: 1. Having a pitch ready that captures the elements of what sets them apart; 2. Establishing an online identity with the help of professional networks, such as LinkedIn; and 3. Building a solid corporate identity that includes branding everything from note cards to brochures.

Then Kushell presented a visual image of networking that she calls "The House on the Hill," where she divides people's roles into owners, part-timers, visitors, workers and the public. Each person plays a different role, ranging from owners, who are influencers and decision makers, to the public, which has limited access and must abide by the decisions the owners make. However, even the members of the public know someone who is a worker, visitor or part-timer and, once they realize this, can gain access little by little and move their way up. With this visual in mind, it makes networking a little more manageable.

Kushell also mentioned important tools for networking success, such as BlackBerrys, card scanners, signature lines and CRM solutions. And she provided some helpful tips, such as building a file of people you want to meet (and showing it to your influential friends) and joining online groups to stay in touch with your network of contacts.

But if the thought of networking still leaves a knot in your stomach, Kushell advises you to "look at networking as a way of life." Says Kushell, "Play it like a game, have fun."
--Sara Wilson

Inspiration, Networking and Success Stories
Posted 1/29/2008 at 11:35 AM

Highlights included an amazing speech from the Woman of the Year, Katrina Markoff. She spoke from her heart about the experiences leading up to the creation of her $12 million-a-year chocolate company, Vosges-Haut Chocolat. After her speech, conference participants flocked to congratulate her.

Other highlights of the day included an appearance by the mayor of Miami Beach, Matti Herrera-Bower, along with a panel discussion featuring several Miami-based entrepreneurs and small-biz experts. I'll capture more memories and upload pictures of the day soon, so be sure to check back. Thanks, Miami, for a wonderful and successful day.
--Kristin Edelhauser Chessman

Women in Charge is Underway
Posted 1/29/2008 at 11:30 AM

Women entrepreneurs from across the country are flocking to the Miami Beach Convention Center for the second annual Women in Charge conference. The day will begin with a welcome speech from Rieva Lesonsky, senior VP and editorial director for Entrepreneur magazine, and will be followed by a keynote address from Adela Cepeda, who we highlighted in this article in December.

Though it's still early, you can feel the electricity in the air as more and more women register and start networking. Camera crews from MSNBC are setting up, ready to listen to pitches from women entrepreneurs with amazing stories to share. So far, the diverse crowd of women looks charged and ready to go for a full day of growth, networking and fun.
--Kristin Edelhauser Chessman

Women in Charge Comes to Miami
Posted 1/29/2008 at 11:30 AM

Entrepreneur magazine is taking over the streets of South Beach for the second annual Women in Charge conference, sponsored by OPEN from American Express. Editors and writers from both Entrepreneur and Entrepreneur.com will be attending the conference to bring you the latest and greatest from Miami if you're unable to attend the sold-out event. Sessions will delve into topics like online marketing, working your network, the money game and low-cost marketing strategies.

Attendees will also have the chance to pitch the editors of both Entrepreneur and Entrepreneur.com. I'll be keeping you up-to-date with what the atmosphere is like and will be bringing you the stories of some of the amazing women entrepreneurs in attendance. Stay tuned for more from Miami …
--Kristin Edelhauser Chessman