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Julie Schoerke - Grow Wisely
Scharrell Jackson - Pivot When Necessary
Dr.PrincyVijayababu - Importance of Financial Planning
Dr. Veena K. Arora - Embrace Risk and Dedication
Tina Rocca - "Passion and Financials"
Tracy V. Green - "Adapt and Pivot"
Erin Cavanaugh - "Budget and Pivot"
Ms. Niharika Sondhi - Execute Strategy with Clear Plans
Sarah Barnes-Humphrey - Take Calculated Risks
Michelle Manire - Consistency and Authenticity
Tiffany Soper - Organize and Stay Resilient
Dr. Jo Varshney - Measure and Take Risks
Dr. Mercy Manyuchi - Customer-Centric Strategy
Grow Wisely
To start your business you will work harder than you ever have in your life; be creative in not taking on debt, or make it very short-term; say "no" to growing to fast when others around you encourage quick expansion - that's when businesses flounder.
Julie Schoerke, Founder, Books Forward, a JKS Communications Company
Pivot When Necessary
Life is a Choice and Your Destiny is Up to YOU!
Scharrell Jackson, Founder, STJ Consulting
Importance of Financial Planning
Finance is one of the big factors
Dr.PrincyVijayababu, Founder, BiogenecodeX
Embrace Risk and Dedication
Whether an intrapreneur, or an entrepreneur, take calculated risks. Give your 100% to whatever you commit to, with persistence and agility. And success will be yours.
Dr. Veena K. Arora, Founder, Triumph through Training Pvt Ltd
"Passion and Financials"
Follow your dreams and passions to do what you love. It takes years to make money especially if you have an extraordinary plant based ingredient product. Try to get funding or help with financials when you see that your product is selling good and working well. Today, without money it is difficult to succeed as a small business.
Tina Rocca, Founder, Pure Plant Home
"Adapt and Pivot"
Do your research on your industry. Know what you need and then ask for what you need and most importantly don't give up and be ready to pivot or make a business adjustment to keep the company growing. Earlier on we went to Paris to one of the largest eyewear expos in the world and we walked around for 3 days. We did not see anyone who looked like us who own, designed or manufactured eyewear. That was our Aha moment - this is why glasses hurt - we did not have representation. We met our manufacturer as well at this expo. We launched our website October 2020. As a new company, we lacked funding to pay influencers or ads - we spent all money on inventory, no one knew who we were when we opened. We began to email and call companies that advertise asking do they have any programs for BIPOC companies. I was asking for what I wanted and needed. With a lot of social media, customer testimonials, then articles in Network Journal, Black Enterprise and calling organizations to request free advertising for a BIPOC company, we were able to drive customers to our website. We are grateful to the Skimm who advertised for us at no charge and helped us have 14,000 hits in one month. We then won our first grant and that also helped generate traffic to our website. We learned that our customers like to read articles about the founders and the entrepreneur journey. Lastly, we launched in the pandemic and only wanted to sell direct to consumer. But the numbers weren't high enough and we met a few people who suggested wholesale. So, we pivoted, while the glasses are sold at a lower price point but now 60% of all our revenue comes from wholesale - optometrists/optician offices nationally and internationally (Jamaica, Puerto Rico, Antiqua, Dominica, Dominican Republic, Martinque, etc.).
Tracy V. Green, Founder, Vontelle Eyewear
"Budget and Pivot"
One piece of tactical advice is to establish a budget right from the start, no matter how small. Since we launched with very little funding, I simply tried to conserve as much as possible without a budget. Even with a small budget, it helps to know where you stand and what can be managed, especially a marketing budget. Overall advice I often share with entrepreneurs is to not wait for perfect. If you wait for perfect, you’ll never do that actual launch or project. Get as close to your initial planning and vision, go live — and then be ready to pivot. You can always adjust and evolve as you go.
Erin Cavanaugh, Founder, See ROSE Go
Execute Strategy with Clear Plans
For young women venturing into entrepreneurship or already helming their entrepreneurial path, I offer valuable advice based on my experience. The entrepreneurial journey is rarely a smooth ride; it's more like a rollercoaster with ups and downs, twists and turns. Challenges and obstacles are inevitable, but it's how you negotiate them that defines your success. Perseverance is key. Don't be discouraged by setbacks or failures. Instead, view them as opportunities to learn and grow. Every challenge you overcome strengthens your resilience and builds character, essential qualities for an entrepreneur. Additionally, have unwavering faith in yourself and your abilities. Believing in your vision and capabilities is fundamental to staying motivated and focused, especially during tough times. Surround yourself with a support network of mentors, peers, and advisors who can provide guidance, encouragement, and constructive feedback. Moreover, continuous learning and skill development are crucial. Stay updated with industry trends, market dynamics, and new technologies relevant to your business. Invest in enhancing your skills, whether it's through courses, workshops, or networking events. The more knowledge and expertise you acquire, the better equipped you'll be to tackle challenges and seize opportunities. Finally, cultivate a growth mindset. Embrace change, adapt to new situations, and be open to feedback and experimentation. Innovation often stems from taking calculated risks and stepping out of your comfort zone. Embrace failure as a learning experience and use it to iterate and improve your business strategies. Entrepreneurship is a journey of self-discovery, grit, and continuous learning. Empower yourself with knowledge, surround yourself with a supportive network, and never underestimate the power of perseverance in achieving your entrepreneurial dreams.
Ms. Niharika Sondhi , Founder, EdNet Consultants Pvt. Ltd.
Take Calculated Risks
It is one of the hardest things I have ever done and still do. Consistency is key and so is being yourself.
Sarah Barnes-Humphrey, Founder, Let's Talk Supply Chain
Consistency and Authenticity
My philosophy is if you don’t take risks you don’t grow. The way I measure if a risk is worth taking is by identifying what is the best and worst thing that could happen if I take the risk. If I’m willing to accept either outcome then I go for it. Some successful risks I’ve taken were being the first woman general manager for 2 major hotel companies, site unseen I took a general manager’s position with a hotel in California.
Michelle Manire, Founder, Coast to Coast Conferences & Events
Organize and Stay Resilient
Some advice that I have learned that I would like to share includes:
The value of hard work can outweigh the value of education and intelligence. Put in the work and you can accomplish anything you set your mind to.
Don't let the hard times deter you from moving forward if you believe in yourself and your company.
It’s important to have a passion and a greater purpose in your work, if you haven’t found this then you aren’t in the right career.
Teamwork and leadership support are everything, so surround yourself with the right people. If you are lucky enough to find good team members, invest in building your leadership skills and creating a positive company culture.
Tiffany Soper, Founder, Nine Point Agency
Measure and Take Risks
I think if anything, the past couple of years has taught me courage–courage to work through a pandemic, courage to endure financial stress, and courage to take on hard problems. I know I'm not alone in this! So, the one piece of advice I would share is to lean into that courage with your customers. One of our customers recently challenged us to take on a project we really didn’t know we could handle. It was in an emerging area of biologic therapy that frankly our scientists had limited experience with. But knowing that our tech is strong and that our talent is capable of much more than what they’ve already accomplished, we collectively found the courage to deliver for our customer. And they were blown away with the results. Be courageous!
Dr. Jo Varshney, Founder, VeriSIM Life, Inc
Customer-Centric Strategy
Always listening to customer feedback, addressing their needs, and ensuring satisfaction has been instrumental in shaping Luana's business strategies and fostering long-term success. Customer-centricity has become a cornerstone of our operations, guiding our decision-making processes and driving innovation to deliver products and services that exceed expectations.
Dr. Mercy Manyuchi, Founder, Luana Holdings
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