Women’s Enterprise Centre Series - Installment #2
Second in a 10-part series about successful operating strategies for women in business

Building a support team is
critical for women starting a business

By Laurel Douglas
CEO
Women’s Enterprise Centre

About half of the women who start a new business in BC do so from home. In many cases they launch their micro-business that way because they’re also caring for a family while they get their business up and running. It just makes the most sense, because it gives them the freedom to deal with their business and their household on their own terms.

If you’re thinking about starting a small business, working from your home also offers the least financial risk. But, it has a few obvious drawbacks.

If you’re like most entrepreneurial women, you want to be in business for yourself, but not by yourself. Yet, building a business can be lonely work. What can you do?

As you start your business, or gear up to take it to the next level, it’s vital that you have a support team in place. It’s a little like having cheerleaders on the sidelines. A support team can enthusiastically urge you on and it’s important for other reasons too.

Being a new business owner, you’ll often be faced with challenges you’ve never encountered if your only experience has been as an employee. They can be issues of finance, supply, sales, markets or staffing. Don’t let the prospect of having to make tough decisions stop you from achieving your dream of owning a business. The decisions will get easier as you gain experience and in the meantime your support team can help keep the issues, and the outcomes you should expect, clear in your mind.

It’s important to remember that no one can be right all the time. When things don’t turn out quite as you planned you may feel alone and uncertain. You may even question how valid your business idea was in the first place. That doubt, uncertainty and fear are natural parts of moving into the totally new territory which comes with being a small business owner. Those feelings can all be forms of resistance that can rob you of your business confidence. The wisdom of a caring support team can help you to see those reactions for what they are. They may be signals that identify gaps in your business plan.

Anna Terwiel and her business partner Susan Devick worked together as partners in their business, Holiday Pantry. They believe it’s important to remember your motivations when the unexpected hurdles appear.

When they decided to start a business exclusively devoted to stocking Sun Peaks Resort hotels and condominiums with groceries and sundries, they had difficulty finding financing. Their idea was completely unique, they had no projections and Sun Peaks was still in the beginning stages of development. There was little faith in their business idea, but they drew strength from each other and were their own best support team. “We persevered and made it work,” says Terwiel. “Our plan with this business was to get in, build it to success and then sell the business. That is exactly what we did.”

If you don’t have a supportive partner like Terwiel, the answer is to build a support team. That may be as simple as gathering a strong circle of friends and family, or you can build it in other ways as well:

• Find a business buddy. By attending business networking events, you can often locate someone whose business is in a similar stage of growth. Offer to lend advice in return for their feedback.
• Find a mentor. Most often, your business concept will not be so unique you’re the only person or company supplying a particular product or service. Seek out someone in a similar type of business and don’t be afraid to ask them to share their perspectives or the lessons they’ve learned. In many cases, you can find ‘mini-mentors’ who are happy to answer specific questions.
• Join a peer coaching team. If there isn’t a small group of women in business who meet to regularly share problems and solutions, ideas and motivation, perhaps you can start one.
• Form an advisory board. Big corporations use them, so why can’t you? Organize a group of a few trusted people who’ve agreed to offer advice when it is needed.
• Turn to a pro. Women’s Enterprise Centre has business counselors who offer free business guidance over the phone from their offices. They are able to help you focus, examine your priorities, make decisions and stay motivated. Women’s Enterprise Centre can also recommend business coaches in your area.
• Seek out help on-line. There are numerous virtual networks of women in business with resources and advice to offer.
• Create a Board of Directors. If you operate an incorporated company, a formal board of directors can provide exceptional leadership and excellent connections.

When seeking support, however, it’s important to be professional and realistic about what you want from your advisors. Use your time with them wisely, listen to their input and afterwards show your appreciation for their thoughtfulness with a thank you card or telephone call.

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Women’s Enterprise Centre serves women across the province from its offices in Kelowna, Vancouver and Victoria. For more information call 1-800-643-7014 or visit online at www.womensenterprise.ca.