A day in the spotlight women led business
09.26.2013 Last Friday was an important day for women business owners. Two things happened that made us want to take a minute to focus on women-led businesses on our blog.
In Atlanta, an exciting group of women entrepreneurs arrived at Frazier & Deeter’s headquarters for the first day of LaunchPad2x 2013.
LaunchPad2X is one of the most powerful programs within Frazier & Deeter’s women’s initiative because it takes a hands-on approach to fostering the success of women-owned early stage businesses. As we mentioned in a previous blog, Georgia is leading the nation in growth of women-led businesses. We see this as an important factor in driving the economic recovery of our country.
The 2013 LaunchPad2X class is a diverse group of women with businesses that range from marketing services to fraud prevention technology to healthcare services to consumer products. These women spent the entire day working with experts who helped them understand critical aspects of growing a business, such as business models, funding options and negotiating with investors. These complex topics were explained in an intimate setting that enabled the entrepreneurs to interact with technical experts in a hands-on forum.
The day was topped off with a special reception in which entrepreneurs and members of the Atlanta Technology Angels were able to meet and discuss business ideas and strategies. The energy remained strong across the entire 11 hour day.
We are hopeful this year’s class will echo the sentiments of last year’s participant who said, “The revenue boost I experienced is based on the knowledge and confidence gained in LaunchPad2x.”
But Friday was also a great day for women business owners in Nashville. The Nashville Business Journal published its list of the top women-owned businesses – 25 companies with combined revenue of $841 million. This group of highly successful businesses is just as diverse as the group in Atlanta, including transportation, marketing, real estate, travel, baked goods, manufacturing, technology and more.
The Nashville Business Journal article went on to quote these successful women business owners regarding their challenges and the lessons they have learned. Their observations about what they learned in the recession are good advice for the entrepreneurs in Atlanta’s LaunchPad2x class, as well as any business owner.
There were some themes in the Nashville women business owner’s takeaways. Have a diversified client base and a contingency plan. Always manage your costs, even in the good times. Focus on your clients: the relationships as well as their emerging needs, which are your new opportunities.
Women-led businesses are “top of mind” here at Frazier & Deeter, and we aren’t the only ones.
Back in May, Warren Buffett made headlines around the world for his essay about the untapped potential of women as an economic factor for the U.S. “Women are a major reason we will do so well,” said Mr. Buffett.
We heartily agree.