Q&A with Ellen Fisher

Ellen Fisher is the founder and publisher of the Women’s Yellow Pages of Greater Philadelphia, a directory of women-owned businesses and organizations. Created in 1982, it is now the largest, most comprehensive guide to women-owned businesses in the region and is distributed in three states and eight counties. She has been a longtime supporter of Empowerment Group’s Women Entrepreneur’s Circle and women-owned businesses in Philly. Fisher understands that placing a spotlight on these businesses is a way to support their growth, help female entrepreneurs network with each other, and showcase the wide range of women-owned businesses that exist in our area. Read our interview with Ellen Fisher below:

Q: What inspired you to create the Women’s Yellow Pages of Greater Philadelphia?
In the early 80's I was hired to sell financial services to women-owned businesses. I asked for the list of wbo's and found there were no lists. At the same time, there were government set-aside programs requiring large corporations and local municipalities to purchase a percentage of their goods and services from women-owned businesses if they wanted to continue receiving govt. contracts. I came up with the idea of a way to help out these large entities find us.

Q: I see the Women’s Yellow Pages is now published in 20 cities in 17 states. What are the most crucial things you have done to grow this network of women-owned businesses?
Share information with everyone. There is enough business for all of us.

Q: Do you have plans to expand further?
We are looking for ways to expand the reach for our advertisers on the internet.

Q: What are your goals for the next five years?
Double sales and create a succession plan.

Q: Do you think women must have a higher education or extensive business experience to start their own company?
No, you just need passion.

Q: What are three pieces of advice you would offer to women looking to start their own businesses?
Create a "board of directors" to bounce ideas off. It's O.K. to plan, but it's more important to remain flexible. Because you are the business and the business is you, no matter where you are and what you are doing.

For more info on the Women’s Yellow Pages of Greater Philadelphia go to www.philawyp.com.

The Role of Landlords in Supporting Small Businesses: Pam Rogow's Approach

Small business owners who rent their storefronts know that having a good relationship with the landlord can be an important factor for business success, not to mention peace of mind. But how would you like to have a landlord that actively works to promote your business and cares deeply about your business principles?

Such is the case with Pam Rogow, who owns the Green on Greene building in Mt Airy. She actively recruits tenants that have green mission--not just green practices, but a full intention to their work. The businesses that occupy her building have contributed to the eco-conscious vibe in the area around Carpenter Lane and Greene Street known as the Mt Airy Village. Her current tenants include GreenPadLiving, which sells green housewares and refurbishes furniture using environmentally sensitive products, the Moving Arts of Mt Airy Studio, which Pam founded in the space over a decade ago, and Philly Electric Wheels, which sells electric bicycles. Her two-story, mixed-use corner building has a number of charming features, including a huge terrace on the second floor that overlooks a private garden (she also lives in the building), and reclaimed interior features from a Wanamaker mansion brought in after WWII. Even her electricity wiring was updated to be as energy efficient as possible.

For Pam, the decision to recruit businesses with green ethics stems from a long history of cultural and sustainable projects in Philadelphia, namely through planning and design. About three years ago she worked as the Founding Producer of Greenfest Philly, and, as she says “knew a lot of the folks in the sustainability world here.” She was also beginning to rethink how her building was being used, so when she found out that one of the event’s sponsors wanted to open a store retailing green home design products, she decided to offer him a space in her building.

When that business was sold and changed locations, Pam decided to begin advertising only for businesses with a green mission to occupy the space. It is the story of her recruitment of Philly Electric Wheels, the current tenant, that most clearly demonstrates Pam’s commitment to environmental and community-oriented principles. She says that once she began advertising, many people approached her with different ideas about how to use the space. But, when her neighbor, Afshin Khaighobady, talked with her about opening a store that rents and sells electric bicycles she knew it was just the right fit.

“So I made him an offer: The first two months were rent-free, but he would hire me to do his launch. That worked out very well for everyone and today Philly Electric Wheels (Phew! to its fans) is still the only store in Philadelphia dedicated to electric bicycles, and has by far the biggest selection of models and makes of electric bicycles in the region.”

Pam’s commitment to green standards and her desire to work with people in the community demonstrates the power that landlords have to promote small businesses with strong environmental ethics. By supporting these small businesses, she is helping to create a business community that provides products that change the way we interact with the world.

Electric bicycle commuting, anyone?

Creating an Effective Business Newsletter

For many businesses, a monthly newsletter is the most effective means of communicating and building relationships with clients. It is an effective marketing tool and can also provide you with fresh content for your website. It’s best to keep your newsletter short and sweet, delivering important information about your business in an entertaining way. Engaging newsletters are those that appear on time, look attractive, and are easy to read. These following tips can help you review the success of your current newsletter or create a newsletter to promote your business.

Commit to Consistency
Consistency is the key. This is achieved by limiting the number of pages. A one page, double-sided monthly newsletter is better than a ten-page newsletter that appears quarterly or every other month. You want to gain exposure and build awareness among clients and prospects. You can send shorter publications more frequently and reach a greater number of prospects. Avoid large-scale newsletters that require lots of time and money.

Create an Attention-Grabbing Title
Your newsletter's title should be a nameplate, or visual symbol, relating to the content of your newsletter. It should be a few short words as opposed to several, long words. Short titles permit the use of a larger type size. Consider breaking the title into two parts; a short, key word in a large type size supported by a longer subheading in a smaller type size which elaborates on its meaning. Make sure that your nameplate emerges as a distinct visual element, separate from the following headlines and text.

Make Headlines Easy to Read
Make your headlines as short and telegraphic as possible; edit, then edit again. Also include subheadings to add visual interest and break long columns of text into manageable chunks. Use front page articles to draw in readers.

Make Body Text as Easy to Read as Possible
The body text should be as plain as possible. Choose a serif typeface; studies have shown that serif typefaces (Georgia, Palatino, Times New Roman) are easier to read than san serif (Verdana). Try setting body copy text flush-left/ragged-right.

Use the Correct Punctuation and Spelling
Proofread, proofread, proofread. Prospective clients will judge your professionalism by the way you handle small details like punctuation and grammar. Avoid hitting the space bar twice after periods at the ends of sentences—this creates distracting gaps. Furthermore, avoid pressing the Enter key twice at the end of a paragraph. This creates distracting white space.

Provide Clear and Meaningful Captions
Captions are one of the most noticed parts of your newsletter. Use them to identify the content of each picture, chart, and table, and also to explain their relationship to the adjacent text. Avoid long captions in small type size, and use a contrasting typeface.

Use Color with Restraint
Exercise restraint when adding more color. Concentrate color in a few areas, such as the background of the nameplate and the logo. Color works best as a background element.

Simplify the Design
Strive for simplicity. Eliminate unnecessary boxes and borders. Use a single headline typeface and type size throughout your headline and avoid using too much bold or italics within your body copy.

Choose the least number of pages that offers you the space necessary to "tease" readers into contacting you for more information. Commit to simplicity and efficiency. To make an effective newsletter you need to stick to a schedule that is consistent. It does not matter if it is once a week or twice a month; just make sure that you adhere to your schedule.

7 Philly Blogs that Keep You in the Know

To run a successful small business, owners need to stay abreast of local trends, developments, and happenings. Community events, grand openings, controversies and city politics are all relevant to the operation of your business and can offer insight into potential partners, vending opportunities, competition, and legislation. Context is everything. But with so much going on in this city, how can a busy small business owner keep up?

Fortunately for Philadelphia entrepreneurs, the blogosphere has your back. Philly’s online world is bursting with sites eager to spread the local word. To stay on top of what’s current, feel free to rely heavily on this list of regularly updated local blogs. You’ll be an expert in no time.

1. Technically Philly. Philadelphia is blessed with a vibrant tech scene, and Technically Philly makes sure the rest of us know about it. They adeptly blend broader tech news with insights on entrepreneurship and the specifics of running a start-up in Philadelphia.
2. PlanPhilly. Somewhere between a blog and a full-blown website, the PlanPhilly space is a great place to stay in tune with all things city planning. Tackling topics from gentrification to waterfront development, PlanPhilly offers great insights into the future of Philadelphia’s neighborhoods--essential info for any small business owner.
3. The Griddle. Grid Magazine’s online alter ego covers Philadelphia’s wealth of sustainable businesses, intiatives, and civic activities. With a good mix of info dished out in easy-to-digest chunks, The Griddle is a nice treat to enjoy on the regular.
4. Brownstoner Philadelphia. A relative newcomer to the Philadelphia blog scene, Brownstoner Philly serves up real estate, architecture and neighborhood news invaluable to anyone looking to open or expand their brick and mortar site. Plus, the pictures are always really nice.
5. Uwishunu. The blogging arm of the Philly tourism board, Uwishunu is the go-to site for upcoming events and openings, both large and small.
6. Philebrity. Nightlife, culture, news, Philly gushfests, and trash talking--you can find it all on Philebrity. Never afraid to offer an opinion, Philebrity’s honest approach to Philly news gives it the sort of credibility lacking from other media outlets.
   
7. Phillyist. Always a good hodgepodge of information, Phillyist is on summer vacation until September. The blog promises a revamped relaunch so, stay tuned.

Make sure to check the blogroll of your favorite sites for their blog recommendations. It’s a fun way to fall down a rabbit hole of Philly’s what’s what.

Places to Network: Fall 2010

At every stage of development, entrepreneurs know how crucial it is to make the right business connections. But don’t stress about where to meet people in the coming monthsl. Networking in the fall is going to be a breeze, with a ton of different area events to choose from. From informative panel discussions to schmoozey river cruises, here’s a list of the occasions that are going to put you in touch with the right people.

First and foremost, don’t miss Empowerment Group’s event this Wednesday! For our fourth annual Success in the City panel discussion, we’ve invited three of Philly’s most inspiring women business owners to speak candidly about business ownership, and to answer your questions.

Success in the City

Hosted By: Empowerment Group

When: Wednesday, August 25th. 6-8pm

Where: Jeanne Ruddy Dance Co. Performance Garage

1515 Brandywine St. Philadelphia, PA 19130

Cost: Free

This year’s panelists are: Hillary Bor of Pumpkin Restaurant, Market, and Cafe; Sarah Van Aken of SA VA; and Taria Avery of Avery’s Pet Styling Salon & Boutique. The event will be moderated by Rakia Reynolds of Skai Blue Media. Join the conversation and get inspired by these successful women. Beverages and refreshments will be served.

To RSVP please call Veronica Perez at 215.427.9245

If you are a member of the Sustainable Business Network, networking events are being hosted in the coming weeks in different areas of the city. This Thursday there is one in Center City, and another in Mt. Airy in early September.

Center City Mixer

Hosted by: Sustainable Business Network

When: Thursday, August 26th. 5-7pm

Where: Marathon Grill

929 Walnut St. Philadelphia, PA

Cost: Free. For members of SBN

Mix and mingle with fellow members of SBN, the people who bring value to your SBN membership. This is a networking event, so make sure to bring plenty of business cards.

To RSVP please contact Julie Robinson at julie@sbnphiladelphia.org

Mt Airy Mixer (with Greendrinks)

Hosted by: Sustainable Business Network

When: Wednesday, September 1st. 4-6pm

Where:Earth Bread + Brewery

7136 Germantown Ave in Philadelphia

Cost: Free. For members of SBN.

Join us for the mixer of all mixers, as SBN members meet and mingle with greendrinks.philadelphia at SBN member business Earth Bread + Brewery. Don't forget your business cards!

To RSVP please contact Julie Robinson at julie@sbnphiladelphia.org

The Sustainable Business Network is also kicking off a breakfast seminar series featuring case studies by entrepreneurs in the Philadelphia area. The main goal of this series is to create an open and supportive environment where business owners from all stages and industries can learn best practices and survival strategies from each other. You won’t want to miss this!

Circle of Entrepreneurs 2.0 Case Study Series

Hosted By: SBN

When: Friday, September 10th. 8-10am

Where:The Center City Law Offices of Montgomery, McCracken, Walker & Rhoads LLP 123 South Broad Street Justice Roberts Room, 28th Floor Philadelphia, PA 19109

Cost: $10 SBN members

$15 nonmembers

Starting in September 2010 we proudly introduce Circle of Entrepreneurs 2.0 Case Study Series: A breakfast seminar for business professionals to listen to real-life Case Studies presented by their peers, followed by a breakdown of the issue at hand led industry expert. Coffee, Tea and Light Breakfast will be provided and are included in your ticket price. Guiding the case study presenters through the process will be a panel of experts as well as feedback from an energetic and supportive audience of fellow entrepreneurs.

Please follow this link to purchase your event tickets: http://sbncasestudies.eventbrite.com/

And there are many more great (even glamorous) events happening in late September and early October that you won’t want to miss!

Business After Hours

Hosted by: Greater Philadelphia Chamber of Commerce

When: Tuesday, September 21st. 5:30-7:30 pm

Where: Ben Franklin Yacht

401 N. Columbus Boulevard

Philadelphia, PA 19123

Cost: Free for Chamber of Commerce Members

$35 nonmembers

Enjoy views of Philadelphia the most memorable way; from the water! Drink, network and make lasting business connections onboard the Ben Franklin Yacht. Bring plenty of business cards!

Follow this link to RSVP for this event: https://www.greaterphilachamber.com/EventReg.aspx?eventID=2487

Philadelphia Young Professionals Expo

Hosted by: Young Professionals Network

When: Friday, September 24th. 4-9pm

Where: The Shops at Liberty Place

16th and Chestnut Streets Philadelphia, PA 19103

Cost: Free

The Philadelphia Young Professionals Expo™ is designed for Young Professionals to discover, learn, and sample a variety of products, services, and activities offered by companies and organizations in the Philadelphia and South Jersey area. Attendees will sample select liquor, beer, and treats and have an in-person experience with area products, all while interacting with sponsors & organizations. This year's expo will also feature a scavenger hunt that you can participate in to win great prizes, including concert tickets from the House of Blues in Atlantic City (plus many more!)

RSVP for free admission here: http://www.upcomingevents.com/rsvp/5224/

All in the Family

Hosted by: Center City Proprietors Association

When: Wednesday, September 29th. 5:30-7:30pm

Where: Schnader Harrison Segal & Lewis LLP

1600 Market St. Philadelphia, PA 19102

Cost: $10 for members and partners

$20 for nonmembers

Meet three prominent family business owners in Philadelphia who will share their experiences, challenges and benefits of owning a family business. In addition, learn from our panel as they reflect, analyze and discuss the legal, emotional and psychological issues. The engaging group will provide content and take home value to help you run a successful business.Wine, beer, and hors d’oeuvres will be served.

Register for this event: https://www.centercityproprietors.org/event/register/204/800/1285732800/1

Networking at Yards Brewing Co.

Hosted by: Young Professionals Network

When: Wednesday, October 6th. 6-8pm.

Where: Yards Brewing Company

901 North Delaware Ave. Philadelphia, PA 19123

Cost: Free for YPN members

$20 for nonmembers

Join YPN at Philadelphia’s greenest brewery, Yards Brewing Company! Tom Kehoe, founder and president of Yards, will discuss the brewery’s success and recent transition from a garage-sized brewery in Manayunk to its current 26,000 sq. ft. location in Northern Liberties. It is the first brewery in Philadelphia to run entirely on wind-power, and its facilities feature natural lighting, recycled concrete floors, wastewater management, and water and heat reclamation. Join your friends and colleagues to enjoy great drinks and food.

View more information or register at greaterphilachamber.com

Can Leasing Equipment Quiet Your Working Capital Nightmares?

As an aspiring farmer, my thoughts have been occupied by the looming specter of capital-intensive equipment purchases. I have nightmares of tractor parts gobbling up my savings account and a market truck burning dollar bills in its greedy engine.

If you’re looking to open a restaurant, a tech business, or any other equipment-heavy enterprise, you probably know how I feel. But is there a way to circumvent the huge outlay of capital required by equipment purchases? For some, leasing may be the antidote to our voracious nightmares.

Pros of Leasing

1. It frees up working capital. This is probably the biggest incentive to lease instead of buy. As we’ve already established, buying equipment often requires spending a whole bunch of money at once. Leasing equipment shifts the purchase into your ongoing operating costs. You pay a monthly fee, just like your rent or utilities.
2. It usually doesn’t require bank financing. To get the money needed to purchase a tractor or a giant oven, small businesses often seek bank loans. Leasing won’t require the same outside financing and is often the only option for businesses with less-than-stellar credit.
3. It offers some tax perks. Come tax time, you may be eligible to deduct lease payments. According to the Business Owner’s Toolkit: “If you lease your equipment instead of purchasing it, you can't depreciate the equipment. However, you will generally be able to deduct the lease payments you make, at the time that you make them, which can result in a larger tax benefit than you'd get if you bought the equipment outright.
   Good Candidates for Leasing: Technology that quickly becomes outdated, equipment with a short life span (i.e. ice machines), equipment you only need for a short period of time, or equipment that will have a poor market value at the end of its use.
   

Cons of Leasing

1. It’s not yours: You’ve just spent a whole bunch of money over the course of three years, and yet it’s not yours to keep. It’s not your asset, it’s not your anything.
2. You’ll probably end up paying more. In general, you’re going to spend more money paying for to lease an item over time than to purchase it outright.
3. Some lease terms are shady. The Small Business Administration warns: “However, while favorable leases are often good bets, unfavorable ones can easily sink an emerging venture. While doing your legal homework can help prevent bad deals, it's always a good idea to have a lawyer look over a lease before signing it.”
4. You may not have much wiggle room once the lease is signed. So, what happens if you sign a long-term lease, but your shiny new thing-a-ma-bob isn’t as useful as you thoughts? You’re stuck making payments for the duration of the contract.

How do you decide?!
The best way to decide whether to lease or to buy is to perform a cash flow analysis. Check out this case study to see how it’s done or use one of the many handy calculators. Before completing this exercise, you’ll have to do quite a bit of research regarding the life and value of the equipment in question.

Other Resources
“Should you Lease or Buy your Tech Equipment?” by Peter Alexander
“Business Equipment: Buying vs. Leasing”

How-To Make Transitions in the Professional World

In every person’s professional life, there comes a time where one has to move onto something else. Whether it’s just to a different job or leaving a job to start your own business there are some things you should be sure to do when transitioning. How do you go about resigning or quitting a job correctly? How do you make sure all your unfinished tasks will be done? How do you leave gracefully? Whether you quit, resign, or are fired, there are things to keep in mind. How you leave a job may even make just as lasting an impression on anything you accomplished throughout your tenure.

Think it Through. You might be ready to walk out the door, but handling a transition such as this comes with a lot of details. Make sure you take into consideration any other employees vacations and workloads. Develop a plan of action of things you will complete before leaving and who you will hand off any unfinished projects to. Of course, discuss this with other employees first so they aren’t blindsided by any extra work. It’s all important to tie up loose ends for the person taking over your job.

Don’t Gloat. While you may be moving onto something a lot bigger and better, try not to be too boastful. Making your coworkers or your boss feel as if you didn’t value your experience with them is never a good idea. You never know when you’ll need their help later, have to work with them again, or if you’re starting your own business, have them as customers. It’s best to keep any negative feelings you have to yourself even after leaving a job.

Keep in Touch. One reason to keep on good terms with your former coworkers/employers is for networking purposes and references. These relationships could definitely come in handy in the future of your career.

Do Your Research. No matter what reason you’re leaving a job for, make sure you know the rules. Can you break your contract? What benefits are you entitled to? This is really just to avoid any awkward disagreements between you and your boss.

Putting It In Writing. If you’re resigning from a position or quitting, a letter stating your departure should be simple and to the point, even if you verbally express this to your supervisor. It should also give as much notice as possible to be respectful of the need to replace you. Emphasize the positive and how the company has benefited you, but that it is simply time to move on. Offer to give any help during the transition or training to your replacement if possible. Basically this is another way you can leave the best impression possible, which can only help you in the long run.