Casey Rowe, owner of Casey Rowe Consulting, and co-founder of WING is the person responsible for organizing the monthly networking events for WING. When I heard about WING’s goals and mission, I knew that Posh had to be involved. Casey is an empowered business woman herself, coming from a family that exuded the entrepreneurial spirit.  She is super fun, communicative smart and funny. I cant wait to get to know what makes her tick and experience all of the greatness her group promotes.

The first WING event will happen the evening of June 25th. Marisa O’Conner, with GENaustin, will speak to WING members (and Poshies) about the upcoming “We are Girls” conference. They will cover topics, volunteer opportunities, suggestions and organization for the event.

Check out these amazing girls and why they need this conference and your involvement.

The WING Networking events will take place right here at Posh every month on the last Tuesday. Topics will be announced early each month, so be sure to check our calendar for more info!

Regardless of location, the atmosphere offered in a coworking space can be ideal for people who are still in the phase of needing input and on the fly advice. The article cites 10 reasons why coworking is a better option than a more closed, private environment.  This article is a great read, so we decided to simply reprint the article and share some of our own links to DeskMag’s statistics supporting these points.

10 reasons why coworking makes sense for startups

Reprinted from Vertureburn.com

Imagine an office with people; only these people aren’t employed by the same company. One is a lawyer, the other, a freelance app developer, and the small team in the corner is building a service aimed at disrupting the mobile payments industry. This is coworking.

Coworking happens when a group of people, working independently of one another, share a workspace, and it’s happening all around the world. By some estimates, there were 1320 coworking spaces worldwide at the beginning of 2012, up 88% from the previous year. Today there are likely over 2000 coworking communities.

Africa has its fair share of coworking spaces. Some of the more well-known ones include iHub and mLab and Co-Creation Hub Nigeria.

While some startups readily slot into a coworking space, others consider private environments. We’ll explore the many reasons why individuals or groups might choose coworking over private environments, but one key tenet to keep in mind is community. For example, startups in a coworking environment are bound to run into similar challenges – having a community soundboard or specialist at hand is likely to accelerate problem solving.

Startup incubators regularly employ coworking, not just to keep a close eye on their investments, but to stimulate learning and collaboration among its community of entrepreneurs and mentors. A new coworking business incubator called HarlemGarage, supported by Mayor Bloomberg and the New York City Economic Development Corp. (NYCEDC), will utilise shared workspaces in support of entrepreneurship in Harlem.

One of the coworking space providers involved in the project, is MicroOffice. Finding office space in a big city like New York that is priced within reach of small businesses is a tall order. For over ten years, MicroOffice has helped small businesses mitigate the miscellaneous risks and costs associated with leasing office space in New York’s Time Square, Midtown West, Chelsea, Union Square, and Grand Central.

New York is long way away from a city like Nairobi, and there are differences in how coworking spaces around the world are managed and monetised, but they share overlapping traits. David Rotbard, MicroOffice’s cofounder since 2003, took some time to share his thoughts on the benefits of coworking, with Ventureburn.

Economy:

Coworking means open desk seating, where companies sit side-by-side, sharing the same space. It’s economical because everyone shares the cost of utilities, receptionists, cleaning, security, and more, which means savings across the board.

Scalability of size:

Your office grows [and shrinks] with your company budget. In a coworking space, it’s easier to adjust the number of workspaces you rent without an expensive or time-consuming adjustment.

Flexibility:

Flexibility is key in coworking spaces. Whether you need a short-term lease, month-to-month leases, or year leases, the option is there for you. Try getting that from a building landlord.

Collaboration:

Need a lawyer? There are five on your floor. Need a new website? The guy four desks down is looking for clients. Everyone knows everyone, and they’ll all be looking to help.

Location:

How do you get a real workspace in prime locations for a few hundred a month? Coworking means bigger bang for your buck, and that includes high-profile locations to impress your clients

Resources:

Coworking conference rooms are there when you need them, and a great first impression for potential clients. Most coworking spaces come with conference rooms, receptionists, and a/v equipment. Want a professional answering service? Coworking services can have a receptionist answer your calls with your company name-and a smile.

Internal Communication:

Want a coworking space just for your company? Try a bullpen. Bullpens come in various sizes and provide a great coworking space with privacy for a company. Where open seating is as important as privacy, try a bullpen.

Educational programming:

Many spaces provide classes to help your startup achieve success. The classes can range anywhere from tips on excelling in social media, marketing for small businesses, and even to health care options. In our economy leveraging resources from your coworking space is always helpful to grow business, and going to class with your friends again is the cherry on top.

Networking Events:

Ready to meet more people? Coworking spaces have a natural network of businesses. Leveraging that network for helps you to meet potential clients and vendors. Don’t be cooped up in your expensive office, grab a beer and meet people!

Community:

The networking helps you grow business, but the community helps you to make friends and help each other out. Who says two competing companies can’t be friends? Having said that, finding the right space that fits your style is crucial to enjoying your workspace and colleagues.

Rotbard tells us that MicroOffice will be branching out to Chicago’s Michigan Avenue and San Francisco soon. May we suggest having a look at Nairobi, Accra and Cape Town?

For me, the visualization of that was profound. It reminded me of the many times in my professional career when I failed. I routinely would try to be someone that I wasn’t. Authenticity and vulnerability were not options in my business world. I would often think to myself  “I am in business, I don’t do vulnerability. That is something reserved for my personal life.”  I spent (*wasted) a lot of time persueing perfectionism. I was performing, perfecting and people pleasing. Those behaviors turned into anger and judgement most of the time.

Business, by definition, is uncertain, full of risk, and to be engaged meant I had to be emotionally exposed.  It meant I had to be vulnerable.

There is no way to opt out of vulnerability.

Vulnerability is simply defined as uncertainty, risk, and emotional exposure.  The lesson here is, if we are alive and value relationships, vulnerability is NOT an option. It is a must. We do it all the time.  The question becomes, what do you do with it?  The more you are aware of what you do “to” your vulnerability, the more you can really make mindful conscious choices that move you along in your business life.

You either do it consciously or it does you.

What does vulnerability have to do with your work?

Perfectionism is a myth. To be all-knowing, bulletproof or failure proof is simply not achievable. You want innovation but you have no tolerance for risk or vulnerability and vulnerability is the birthplace of innovation and creativity.

A leader is anyone who holds him or herself responsible or accountable for finding potential in people. You are called upon to model the vulnerability we want to see in the people on our teams. If we want our teams to come to us and say “Hey, I don’t understand this and I want to, I need some help,” then we have to model that behavior. We have to model taking risks and failing.

Being an entrepreneur is all about vulnerability. When you meet the ones who are very successful, they usually live by the mantra to fail often and quickly. Get cleaned up, gather your education and move forward. That is why we are here.

Vulnerability is the birthplace of innovation?

What does that mean? Ever been struck by an incredible idea and wanted to share it with your team. When the time comes to put it on the table you are stalled by the thought that half of the people in the room will think it is a stupid idea. The other half of them may have questions you didn’t think of and you wont know how to answer.

We live in a culture today where the one job of a leader is to cultivate engagement. Yet engagement is almost seen as uncool. The group is around the table, taking about your project. The manager is excited about it. And someone around the table says “This is awesome, I’m excited, I’d love to be responsible for a part of it”.

Invariably, two or three people in that room will turn and say, “What a suckup”. It’s almost like we are afraid to buy in because we would rather live disappointed than feel disappointed. The minute we are engaged we are invested  and we have something to loose.

If the idea you are pitching immediately makes sense to everyone, is it innovative?

You have to create a culture of engagement.

A culture where your work is humanized, where relationships are valued, where very explicitly, people feel safe making mistakes, asking for help and trying new things. Vulnerability is showing up and being “seen” (in the arena) . How can you show up and be seen when you are terrified by what other might think?  We live in a culture where shame is a management style, favoritism is rampant, gossip is out of control and perfectionism is curated. You can’t ask people to show up and be seen, if you don’t model it yourself.

What does all of that have to do with perfectionism?

When we allow perfectionism to “drive” us, shame is riding shotgun. Perfectionism is not about healthy striving, it is not about setting goals and being the best we can be, perfectionism is a cognitive behavioral process that say “If I look, work, and do everything perfect, I can avoid shame, ridicule and criticism”. It is a defense mechanism.  It is not a vehicle for success. It is a trigger we have to be aware of all the time, because it gets in the way of getting work done.

That ties back into failing fast

You have to be in the game. Showing up requires a lot of courage. Being “in the arena” is risky, and requires a hero’s level of bravery. Every day you have to decide if you are going to walk in to a situation and sound stupid, vulnerable or crazy, or are you just going to play it safe?

As dangerous and daunting (and scary) as vulnerability can be, I don’t believe it is ever as dangerous, daunting or scary as when we reflect back on moments in our lives where we wonder what would have happened if we simply didn’t show up.

In 2013, women MBA grads are now earning 93 cents for every dollar earned by their coworkers. Grads from the University of Texas at Austin McCombs School of Business make an average yearly salary of 105, 590, which is 101.9 percent of their male counterparts.  That makes this the first instance where the pay gap is actually reversed! Great work ladies!

Here is a great infographic that illustrates the record breaking growth.

The following keys to customer loyalty contain the outcome of many conversation about customer loyalty that I have had over the years.

Offer something uniquely valuable.

Being unique is the price of entry into customer loyalty.  Unless you have something that no one else can offer, you are selling a commodity and customers are never loyal to plug-and-play vendors who supply commodities.   Customers are loyall because they perceive that something is of value.  The uniqueness of your offer does not need to be a product feature.  In fact, that sort of uniqueness is often temporary.  The more permanent unique offers would be your positive reputation as a businessperson who can be trusted and your firm’s reputation as a reliable and hassle-free business partner.

Understand the customers business.

Thinking that customers are well informed about he kind of products and services you offer is a mistake.  Although it may be true that the internet contains a ton of information, the real decision-makers do not have the time to wade through it all.  Customers expect YOU to know all about their business without having to take the time and effort to brief you on it. They expect you to make things simpler and easier for them, not the other way around.  Ideally, you want your customer to think about you and someone who is part of their industry.  When you are seen as “one of us,” you are seen as someone worthy of loyalty.

Add value every time you talk.

Even if your product is something unique and you are a great expert in the customer’s industry, if you can not add value each and every time the customer deals with you and your company, you will never earn their loyalty.  This means bringing something new and interesting to the tabel every time you talk.  It means dealing with the customers problems before they even realize there is a problem.  It means respecting, and never wasting, every second of their time.  When earning loyalty, there are no second chances. Never assume your customer will cut you slack just because you have a long history together. You must consistantly prove to the customer that the relationship is crucial.

Go above and beyond.

The hard truth… customer satisfaction is a joke. Show me a customer who’s is “satisfied” and I’ll show you a customer who is ready to find another vendor. If you exceed your customer’s expectations, you will earn their true loyalty.  Exceeding expectations does not mean offering huge discounts and free products.  Discounting and freebies actually have a reverse effect on customer loyalty.

So what is the secret?  Find your customer new customers.  They won’t expect that from you and every customer this happens to is both grateful and delighted.  Only a fool would choose to be disloyal to someone who brings them new business.

Monica Crowe – Content Marketing Guru

Monica is the owner and founder of Monica Crowe Media. She professes that she is a content marketing specialist, but I would argue that she is an expert at content marketing.

The Interview

Can you explain to me in your own words what exactly Monica Crowe Media is?
We provide content marketing services for business-to-business brands. Services range from blog, newsletter and social media posts, to copywrtiting an copyediting services. Our newest offerings are online marketing strategy consulting, as well as video production and video editing.

How did you end up in content marketing?
In 2006 I began blogging and dabbling in online marketing for personal enjoyment. I was fascinated by the income results mega bloggers had from simply posting content to the web.

I spent the next several years tinkering with content marketing on my personal blogs. I would come home from my day job as a newspaper reporter, and spend hours on the Internet reading everything I could on the topic. I took several online content marketing courses and continued putting the methods to practice.

Eventually, I combined my background as a professional writer with my content marketing experience. Now, I help businesses get more leads and sales with my content marketing writing and consulting services.

What inspires you?
Good branding and design; art and music; the wealth of knowledge the Internet provides; people who are passionate about their work and giving it everything they’ve got.

Where do you see yourself in 5 or 10 years?
I see Monica Crowe Media becoming a full-service online marketing agency that provides everything from content marketing and video production, to promotional graphics and web design.

Onto the Girly Fun!

Favorite Austin Lunch Location?
Wow… I’m stumped. I obviously don’t get out much. Now ask me about dinner places. In that case, I’d say Vivo. Those chips are amazing!

What is your favorite way to unwind?
Taking a long walk in hilly NorthWest Austin with my two little fur babies (aka “doggers”).

Coffee or Tea?
Coffee please!

Tell us something about you that you don’t normally share.
I’m a formally trained fine artist. I can actually draw a striking likeness of anyone or anything.

Yup, I drew it!

Your best advice or words to live by.
“Go confidently in the direction of your dreams. Live the life tha tyou have imagined.” — Henry David Thoreau

For example, is the market you serve the best one for your product or service? Are the benefits of dealing with your business clear and are they aligned with customer needs? If you’re unsure about the answers to any of these questions, take a step back and revisit the foundation of your business plan.

The following tips can help you clarify what your business has to offer, identify the right target market for it and build a niche for yourself.

Be Clear About What You Have to Offer

Ask yourself: Beyond basic products or services, what are you really selling? Consider this example: Your town probably has several restaurants all selling one fundamental product—food. But each is targeted at a different need or clientele.

One might be a drive-thru fast food restaurant, perhaps another sells pizza in a rustic Italian kitchen, and maybe there’s a fine dining seafood restaurant that specializes in wood-grilled fare. All these restaurants sell meals, but they sell them to targeted clientele looking for the unique qualities each has to offer. What they are really selling is a combination of product, value, ambience and brand experience.

When starting a business, be sure to understand what makes your business unique. What needs does your product or service fulfill? What benefits and differentiators will help your business stand out from the crowd?

Don’t Become a Jack of All Trades-Learn to Strategize

It’s important to clearly define what you’re selling. You do not want to become a jack-of-all trades and master of none because this can have a negative impact on business growth. As a smaller business, it’s often a better strategy to divide your products or services into manageable market niches. Small operations can then offer specialized goods and services that are attractive to a specific group of prospective buyers.

Identify Your Niche

Creating a niche for your business is essential to success. Often, business owners can identify a niche based on their own market knowledge, but it can also be helpful to conduct a market survey with potential customers to uncover untapped needs. During your research process, identify the following:

• Which areas your competitors are already well-established
• Which areas are being ignored by your competitors
• Potential opportunities for your business

The appendix would include:

• Credit history (personal & business)
• Resumes of key managers
• Product pictures
• Letters of reference
• Details of market studies
• Relevant magazine articles or book references
• Licenses, permits or patents
• Legal documents
• Copies of leases
• Building permits
• Contracts
• List of business consultants, including attorney and accountant

Any copies of your business plan should be controlled; keep a distribution record. This will allow you to update and maintain your business plan on an as-needed basis. Remember, too, that you should include a private placement disclaimer with your business plan if you plan to use it to raise capital.

You should develop the Financial Projections section after you’ve analyzed the market and set clear objectives. That’s when you can allocate resources efficiently. The following is a list of the critical financial statements to include in your business plan packet.

Historical Financial Data

If you own an established business, you will be requested to supply historical data related to your company’s performance. Most creditors request data for the last three to five years, depending on the length of time you have been in business.

The historical financial data to include are your company’s income statements, balance sheets, and cash flow statements for each year you have been in business (usually for up to three to five years). Often, creditors are also interested in any collateral that you may have that could be used to ensure your loan, regardless of the stage of your business.

Prospective Financial Data

All businesses, whether startup or growing, will be required to supply prospective financial data. Most of the time, creditors will want to see what you expect your company to be able to do within the next five years. Each year’s documents should include forecasted income statements, balance sheets, cash flow statements, and capital expenditure budgets. For the first year, you should supply monthly or quarterly projections. After that, you can stretch it to quarterly and/or yearly projections for years two through five.

Make sure that your projections match your funding requests; creditors will be on the lookout for inconsistencies. It’s much better if you catch mistakes before they do. If you have made assumptions in your projections, be sure to summarize what you have assumed. This way, the reader will not be left guessing.

Finally, include a short analysis of your financial information. Include a ratio and trend analysis for all of your financial statements (both historical and prospective). Since pictures speak louder than words, you may want to add graphs of your trend analysis (especially if they are positive).

Next, you may want to include an Appendix to your plan. This can include items such as your credit history, resumes, letters of reference, and any additional information that a lender may request.

Your funding request should include the following information:

• Your current funding requirement
• Any future funding requirements over the next five years
• How you intend to use the funds you receive: Is the funding request for capital expenditures? Working capital? Debt retirement? Acquisitions? Whatever it is, be sure to list it in this section.
• Any strategic financial situational plans for the future, such as: a buyout, being acquired, debt repayment plan, or selling your business.  These areas are extremely important to a future creditor, since they will directly impact your ability to repay your loan(s).

When you are outlining your funding requirements, include the amount you want now and the amount you want in the future. Also include the time period that each request will cover, the type of funding you would like to have (e.g., equity, debt), and the terms that you would like to have applied.

To support your funding request you’ll also need to provide historical and prospective financial information.

Once you have completed your funding request, move on to the next part of your plan – Financial Projections