One Woman™ National Business Conference Readies to Welcome

HOUSTON--(BUSINESS WIRE)--Today, the Texas Business Alliance (TBA) announced its women in business conference, the One Woman™ National Business Conference slated for August 6-8, 2009, at the Omni Houston Hotel, Four Riverway, Houston, Texas 77056, in Houston’s Galleria area. Womentality magazine is a One Woman™ media partner and Womentality Publisher Lauren Williams is co-chair of the conference coordination committee and brings a wealth of curriculum development expertise. The conference will gather a dynamic national network of hundreds of women from all walks of life, backgrounds and perspectives.
“Changing the Face of Business One Woman at a Time” – the One Woman™ theme – is meant to highlight the power in a united women’s network and shared determination to succeed in business.
The One Woman™ birds-in-flight brand artistically symbolizes the freedom and limitless opportunities women entrepreneurs share in common, as well as the strength women have when joined as one.
“One Woman™ is one of our signature business development programs, which will empower, educate and inspire women to have an even more successful entrepreneurial journey or corporate career,” said TBA Founder and CEO Jeffrey L. Boney. “Women business enterprises are the fastest-growing segment of all small businesses and our objective is to equip them with the knowledge needed to sustain growth.”
Pioneering a novel learning environment, One Woman™ will amass the most intriguing corporate and entrepreneurial women (and men) in business to share core business practices, create the best of enrichment and informational workshops and forums, and incorporate multicultural awareness seminars. Anchoring the conference is a large tradeshow where exhibitors come to sell, demonstrate and share their products, services or business opportunities to women.
One Woman™ is currently accepting applications for presenters and thought-leaders with expertise in: infrastructure and financial management, marketing/advertising/social networks/public relations, information technology, legal solutions, insurance/bonding, joint-venture partnerships, managing fear and change during challenging economic times, work family balance, and any new ideas or timely topics specifically related to women in business.
For a speaker’s application and information regarding exhibiting and sponsorship, please visit www.texasbusinessalliance.org or call 281-213-9554.

WHY SHOULD YOU BUY A BUSINESS

As someone who helps prospective and existing business owners for a living, I am heartened by all the media attention aimed at helping people find employment and survive this difficult economy. I'm concerned, however, that there isn't more discussion about the option of buying an existing business.
In the business brokerage industry, we equate buying a business with "buying" a career or profession. For the unemployed and those worried about their job security, buying a business is just as viable an option as a traditional job search or starting a business from scratch.
Though it requires a larger upfront investment compared to starting something from scratch or conducting a traditional job search, buying a business can provide you and your family long-term security while paying you an immediate salary, covering your bank debt and providing a small cushion to grow the business. It's also one of the best investments you can make, as evidenced by its history of outperforming both the stock and housing markets even during periods of double-digit growth rates. When you buy the right business, you're building something that has real value and can be resold later--potentially for a profit. But those aren't the only benefits. Here are six more:
Immediate cash flow: Taking on a business with existing customers can be extremely beneficial. With a properly structured acquisition, the business revenue should enable you to cover the cost of any bank loan, take a reasonable salary and have a slight cushion for growth. This scenario is a stark contrast to starting a business from scratch with no immediate revenues, clients, employees or cash flow.
Brand recognition: There is a significant advantage when you acquire a business with existing marketing, advertising, client contracts, trained employees and third-party relationships. The business is established within its trade sector and known throughout the community. This is an intangible benefit that's almost impossible to create with a startup.
Bank financing: Financing the purchase of an existing business can be easier than raising money for a startup. The bank can see historical performance and not just rely on pro forma financials or projections. If you have industry experience to go with the business acquisition, the banks know you have the business acumen to successfully operate it.
Trained employees: One of the most valuable assets in a business acquisition can be the existing employee base. With the right team in place, business owners can focus on growing the customer base or developing new products and services. The work of finding, hiring and training new employees has already been done, and you can use this as a springboard for future growth. Plus, the entire business doesn't rest on your shoulders, which gives you peace of mind should you decide to take a vacation or a break from the action.
Systems and infrastructure: Many businesses will have systems that range from operating manuals to complex IT platforms. Existing systems support the company's operations and should be the foundation for future expansion. You also have the outsider's point-of-view to spot and improve weaknesses in the system.
Training and transition: Sellers can be invaluable in helping you transition into the business, offering guidance ranging from specific training, introduction to key clients and suppliers, supplying an employment contract for future services, and in many cases, seller financing for the business purchase.
Being aware of all the options during these tough economic times will give you the leverage necessary to make good decisions. If you've already been impacted by this economic meltdown or you're fearful about an impending layoff, small-business ownership could be an option. Pursue all of the avenues available and, if small business ownership is a viable alternative, then seek the advice of professionals and those who have done it before.
Domenic Rinaldi is president and managing partner ofChicagoland Sunbelt, a business brokerage firm that focuses on helping people buy and sell businesses in Chicago and the surrounding Midwest area. Rinaldi is a Certified Business Intermediary (CBI: 6.82, 0, 0%) from the International Business Brokers Association and an expert in the business brokerage field. He brings more than 24 years of experience in merger/acquisition, sales, service, marketing and operations to the business brokerage arena.

Finding Customers in Your Own Backyard

If you own a local retail store or restaurant, nothing beats a new neighbor for boosting sales. The residents who have recently moved into your town are actively looking for new companies to do business with, and the places that get their attention first will be richly rewarded.
“We believe in networking and getting out into the community, so meeting new residents is high on our priority list,” says Deborah Mobley, co-owner of Perfect Choice Hair and Beauty Supply in Des Moines, Iowa.
“Even if you intend to market to the entire country, it’s important to start at a granular level and market to the people who are in your own neighborhood,” says Lamar Childs, an account representative with Backyard Marketing in Blue Bell, Pennsylvania. It doesn’t take a lot of effort to reach the people who are new to town. Here are some ways to find them and get them to visit your establishment:
Create direct mailing with a free gift offer. Mailings are an effective, inexpensive way to reach new neighbors. The cost for design and postage is often less than one hundred dollars. Costs can be further reduced if you join in with other companies for a package mailing. “We belong to our area chamber of commerce, and we partner with other businesses who want to reach new residents, so we usually participate in a joint welcome packet,” says Mobley.
Craft your direct mail piece with a call to action so your new neighbor will have an incentive to come to your store instead of throwing the ad in the trash. “You always have to ask yourself, ‘How can I get this customer to visit my business?’” Childs says.
A good way to create a call to action is to offer a free product. “In our welcome packet, we offer a complimentary hand lotion,” Mobley says, adding that the freebie is especially effective in bringing in new customers.
Whenever possible, try to send your mailing during the middle of the month. That way, it’s less likely to get lost in the paperwork that comes with an end- or beginning-of-the-month move.
Ask real estate agents to recommend your company. Another important way to generate new neighbor business is to get a third party to tell newcomers about you. “Find a real estate agent who can be your partner,” suggests Le’Kisha Stevenson, a broker and owner of Metric Realty Co. in Charlotte, North Carolina. If you own a restaurant, you could let the agent give their clients a coupon for a free home-cooked meal at your establishment, welcoming them to the neighborhood.
“Business owners can also sponsor an agent’s client newsletter,” Stevenson says. This has the added advantage of keeping your company name in front of the new resident for an extended period of time.
Evaluate your efforts. “Make sure you have a system in place to track your results,” says Childs. “If you send out 1,000 pieces of mail, know how many resulted in customers visiting your business. That should also translate into sales.”
A good response rate for direct mail is about 5%. A successful response rate, however, is anything that allows you to recoup your investment.
The “new neighbor” audience is small but lucrative. It is an excellent marketing investment for companies who have a tight advertising budget. If you gain these customers today, your company could enjoy their loyal patronage for many years to come. “When I get customers to come here for the first time, they’re pretty much hooked,” Mobley says

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Tough Economic Times

BLUEFIELD — Pink and green camouflage, high-heeled combat boots and bouncy ponytails won’t last in the Army’s boot camp. But it might make a difference in the war for the economy. Area women who attended the Four Seasons Women’s Conference on Tuesday in Bluefield got a chance to sharpen their boot camp skills during the day-long event. The conference focused on surviving tough economic times, with good attitudes and smart leadership. The event featured keynote speaker Kim Knopf, owner of Mattress Warehouse; Beth Jackson, activities director at the Greater Bluefield Community Center; Betty Critch, executive director of the WVU National Center of Excellence in Women’s Health; Melissa Bunnell, a D.O. at Bluefield Regional Medical Center; Paul Neveu, certified employee benefit specialist, BPAS; Connie Saunders, president of Saunders Staffing; and Melissa Aguilar, executive director for Region One Workforce Investment Board.Knopf, who owns 80 stores in Kentucky, West Virginia and Ohio, acknowledged that women have already made promising advances in the business world. When Knopf opened her first store, only 5 percent of businesses were owned by women. Today, nearly 70 percent of businesses are owned by women. But in a struggling economy, steps need to be taken to ensure women can survive the war. “For us, during a recession, we will have to remember that good is not good enough,” Knopf said. She encouraged women to focus on positive attitudes that center on change and opportunity, rather than disappointment or fear of the recession. She also told women to become better leaders and to expect leadership from others in charge. “We are the best, the stronger of the two sexes,” Knopf said. She continued to say that women are like underdogs, always working hard and playing smart when given opportunities. Knopf began opening stores at the age of 23 and continued to open a store every year for 20 years. It is her story that helps women like Ashley Steele from Tazewell, Va., see the opportunities available to them.“I really enjoyed this because I am 24 and it just hit home for me. I just got my MBA,” Steele said. “There is a lot to learn at such a young age.”For other women, the day-long event is a chance to get fresh ideas, listen to speakers and develop a camaraderie. For Cleaning Angel’s owner Lois Jones it is a day to explain her business and meet other business women in the area. The conference, held at David’s at the Club in Bluefield, is an annual event that strives to inspire, motivate and educate area women. It is sponsored by the Greater Bluefield Chamber of Commerce, along with area businesses.Lisa Huff, chairman of the GBCC, Lana Pentasuglia, chair of the Four Seasons Women’s Conference, George McConagle, vice chair of special projects and facilitator Angel James helped coordinate the ninth annual women’s conference.