The WE Inc. Journal

December 18, 2008 

"I don't think of myself as a poor deprived ghetto girl who made good. I think of myself as somebody who from an early age knew I was responsible for myself, and I had to make good."

Oprah Winfrey, Talk Show Host

CIPE’s “Community of Women Entrepreneurs…empowering women internationally.”

In emerging markets across the globe, women are expanding their participation in business and stimulating economic development. The voices and leadership of women entrepreneurs are now essential to enlarging access to opportunity and invigorating the democratic process. The Community of Women Entrepreneurs (CWE) -- hosted by the Center for International Private Enterprise (CIPE) -- shares ideas, experiences, best practices, and resources to empower women economically and politically.

Members of this global community are leading entrepreneurs and business advocates who share their knowledge and in return receive fresh ideas from their peers. Discussion in this community focuses on supporting a culture of entrepreneurship, expanding the opportunities for women in business, and advocating for a better business environment.

WE Inc. partners and friends in emerging nations will be especially interested in learning what other women entrepreneur-leaders are doing to help women grow as an economic force. CIPE is an organization dedicated to strengthening democracy around the globe through private enterprise and market-oriented reform. WE Inc. CEO Karen Kerrigan is a board member of this effective and important organization.

“EYE ON SMALL BUSINESS" RADIO: Kerrigan Joins Host Kelly Scanlon, December 19, 10:00 a.m. EST. (Listen Live Online)

Few people, if any, understand the impact that government policies have on commerce, entrepreneurs and small companies better than Karen Kerrigan, founder of the Small Business and Entrepreneurship Council and president and CEO of Women Entrepreneurs Inc.  She has earned a reputation for being able to provide clear analysis of the latest changes and developments in government fiscal policies and regulations, that in the short or long term, affect the bottom line of America's small businesses.

As Kelly Scanlon’s guest on December 19, Kerrigan discusses small business and the economy, and what the Obama administration might mean for small business.

"Eye on Small Business" is heard every Friday morning from 9 a.m. to 10 a.m. on Hot Talk 1510AM with host Kelly Scanlon, publisher of Kansas City Small Business Monthly. You can also listen through the Web at http://www.1510.com/.

NOW AVAILABLE THROUGH iTUNES AND TalkShoe "Eye on Small Business" radio show is now available as a podcast. Listen to and download interviews with some of Kansas City's most successful entrepreneurs on demand; subscribe to the RSS feed. 

“Hot Mommas Project” Update

The “Hot Mommas Project” is an award-winning leadership project raising self-efficacy of women and girls through exposure to role models. The project produces case studies demonstrating the full range of factors influencing a woman's success. At the conclusion of the recently launched case study competition, all submitted cases will be made available to educators and others online. The goal of the project is to produce the world’s largest women’s case study library.

Karen Kerrigan, judge and founder of Women Entrepreneurs Inc., commented on the importance of the project’s work, “At leadership conferences I have participated in ranging from Harvard Business School to the Middle East, women want to succeed in both their professional and personal/family lives. The case study database resulting from the ‘Hot Mommas Project’ case study competition is a major step in the right direction.”

Kathy Korman Frey, founder of the Hot Mommas Project and George Washington University School of Business adjunct professor of management, recently announced the distinguished panel of judges who will review the cases. Winners of the case study competition will have the chance to be published in a major Prentice Hall textbook and win thousands of dollars in prizes. See judging criteria and prizes/winners at www.HotMommasProject.org for more information.

As Dr. Susan G. Duffy, Assistant Professor Strategy and Entrepreneurship Simmons College School of Management, says:  "Exposure to role models can contribute to one's sense of self-efficacy, or the feeling of ‘If she can do that, maybe I can too.' The Hot Mommas Project approach of providing role models on paper hits the nail on the head by showing real women successfully managing the daily complexities of personal and professional demands. The online, self-directed learning model offers an innovative "just in time" development alternative for busy women."

Here is more on our mission and research underpinnings: www.HotMommasProjectInfo.wordpress.com

See our FAQs:  http://hotmommasprojectfaq.wordpress.com. Start today at www.HotMommasProject.org. Dynamic women need as much lead time as possible! And, the earlier you click "publish" the more prize drawings you'll be automatically entered into. You can change your case through 1/31.

Small Business Leaders Express Optimism, Lined With Realism, at NYC Summit

On December 8, 2008, nearly 100 invited leaders representing the entrepreneurial community met in New York City for the 2^nd Annual Small Business Leadership Summit: Outlook 2009 to discuss legislative, economic, market and business trends for 2009. The group identified key challenges and talked about solutions and resources that can better help entrepreneurs weather the economic storm. 

The leaders took part in a survey regarding their views on the economy, how entrepreneurs will act, as well as how their businesses will perform in the coming year. Highlights of survey results include:

• Forty six percent of attendees felt that the economy would be “somewhat better” by the end of 2009, and 8% said “significantly better.”  Twenty three percent said it would perform “the same,” while 15% said “somewhat worse” -- 8% said “significantly worse.”

• With respect to major capital improvements, the overwhelming majority of leaders (73%) reported that small businesses would postpone plans.

• Regarding credit availability, 57% said it would get “somewhat easier” to access credit.

The event was sponsored by Moran Media Group, a leading publisher of cutting edge small business information.  WE Inc. Founder Karen Kerrigan has attended the event since its inception, and spoke on the “access to credit” panel.

You can read the full results of the survey, including what small business owners will do to survive current economic conditions, and actions that Washington, D.C. and policy makers should be focusing on by clicking here.

“Telework Trends and Best Practices” Teleconference -- Another Major Flex Options Program Success

The December 18, 2008 Flex Options teleconference sponsored by the Women’s Bureau, U.S. Department of Labor, was the most successful ever in terms of attendance with approximately 540 participants registered for the hour-long event. If you missed the teleconference, “Telework Trends and Best Practices: How Today's Economic and Environmental Factors are Influencing Telework Options," there will be a transcript of the event posted on the Flex Options website soon.

Currently, you can view a power point presentation by transportation and telework expert Elham Shirazi by clicking here.  Ms. Shirazi, an expert in transportation planning and telework, has worked with some of the most recognizable business names in the U.S. as well as government and major organizations.

Kathy Durfee, CEO, TechHouse and Lisa Gabriel, Senior Recruiter, Image Right, Inc. shared their frontline experiences implementing telework programs. They discussed their successes, lessons learned, practical tips and how employees should approach business owners when asking them to consider a telework option.

A very special thank you to these three dynamic women for sharing their time and expertise with the Flex Options project.  Once again, the transcript of the teleconference will be posted soon. WE inc. is a national partner in Flex Options.  

Start Smart in 2009 with SCORE at www.score.org/january

Start out right for your business in 2009 with SCORE "Counselors to America's Small Business." SCORE will provide a resource page with "Small Business Smart Start Tools" at www.score.org/january. This content area will offer valuable resources for assessing your business, organizing your workplace, and planning for success. The page goes live on January 1.

Visitors to www.score.org/january will find the following tips and tools:

• Quick Start Business Plan. Take this online workshop to give yourself and others a clear snapshot of your business idea, or where your business is heading. Complete the plan to help sharpen your business concept.
• SCORE & E-Myth Small Biz Assessment. Get an instant evaluation of your business skills plus recommendations for business growth strategies and access to SCORE's online counseling.
• SCORE Start-up Quizzes. Two short business quizzes help you size up your competition and determine the earning potential of your business.
• Learn Online. Access 40 online workshops that provide a wide range of assistance on starting, managing and marketing a business. You also can learn about tax issues, financial management and technology infrastructure.
• Organizing Your Business. Learn how to eliminate clutter, save time, establish a plan, and set priorities for maintaining an organized office space. Download a free guide, " 3 Ways to Organize for Success," by nationally known professional organizer Julie Morgenstern, a successful SCORE client.
• Ask SCORE. Get answers to your business questions by email from more than 1,200 SCORE online mentors.

In addition, SCORE will offer two new podcasts:

• Jennifer Kushell , internationally recognized expert on the next generation workforce, offers sound advice on the importance of networking.
• Dr. Bernard Harris , veteran astronaut and SCORE board director, provides information to help you with your business vision.

Past SCORE podcasts are available at www.score.org/podcasts.html.

For more information about starting or operating a small business, call 1-800/634-0245 for the SCORE chapter nearest you. Visit SCORE on the Web at www.score.org or www.score.org/women.

Comprehensive Tax Guide Available for Free at IRS.gov 

The IRS has placed its comprehensive tax guide for individuals on IRS.gov, updating it for tax year 2008. The updated on-line version of IRS Publication 17, “Your Federal Income Tax,” contains more than 900 interactive links.

Publication 17 has been updated with important changes for 2008, including information on the new recovery rebate credit, new first-time-homebuyer credit, and an additional standard deduction for real estate taxes.  It has been published annually by the IRS for more than 65 years and has been available on the IRS Web site since 1996.

As in prior years, the publication provides information on how to file an individual tax return, what to include as income, how to calculate capital gains and losses, how IRAs and other expenses can affect how much income to report, whether to take the standard deduction or itemize, and how to figure taxes and credits.

Publication 17 is available on line, however, those who do not have access to the Internet can call 1-800-829-3676 to request a free copy from the IRS. Printed copies will be available in January 2009.

How To News

“Starting Up: 6 Ways to Profit From Social Media Tools,” SM Small Biz, December 15, 2008. “…small-business owners can reap big rewards by adding social media tools to their arsenal. Consumers are increasingly expecting forums, blogs, videos and podcasts whether they're shopping online or researching health subjects. The potential audience is huge. In October, for example, web surfers in the U.S. viewed 13.5 billion online videos — a 45% jump from the same time a year ago, according to recent data from media research firm ComScore.”

“A Business Owners Guide to Local Advertising,” Forbes.com, December 16, 2008. “For entrepreneurs who would rather not shell out (or simply can't afford) as much as $1,000 for an old-fashioned ad in the Yellow Pages, there are now a host of flexible, affordable alternatives for wrangling the locals--and even calculating the return on those marketing efforts.”

“Tightrope: Get Set for Growth in 2009,” USA Today. “All too often many entrepreneurs get so caught up in producing products and services that they forget that the real foundation to every business is the customers and clients they serve.

In the Marketplace

“Secret for Surviving the Economy: Oatmeal,” New York Times, December 18, 2008. “While overall restaurant sales have been weak, breakfast foods remain a rare bright spot for the industry. Chains that want to get into the breakfast business without making a big investment are turning to oatmeal because it doesn't require elaborate cooking equipment, it has high profit margins and its components don't spoil easily like fresh breakfast foods do.”

“Mothers Know Best When Shopping Online,” Brandweek.com, December 17, 2008. “Mothers are big on conducting research before plunking down the dollars. That's according to results from a new Mindshare Online Research study released Tuesday (Dec. 16) that found that 61 percent of moms research holiday gifts compared to only 48 percent of non-moms. Moms were also more likely than non-moms to single out customer product reviews or ratings as the most influential source for obtaining holiday gift information, 23 percent versus 12 percent.”

“Trend: Insurers, banks creating more HSAs as industry grows,” Fierce Health Finance, December 17, 2008. “The money coming from the ‘health/wealth’ market is expected to increase over the coming years: Some experts predict the market could reach $40 billion in the next five years. That's not surprising, as it appears consumers are getting used to transferring money into these accounts regularly. In fact, as of the first quarter of 2008, consumers transferred an average $2,674 into their investment accounts, but spent only $1,216 on average, according to Canopy Financial. That certainly leaves plenty for banks to invest for their purposes.??Given these numbers, it's little surprise that the biggest health plans are not hesitating to at least dip their hands into programs like HSAs and health debit cards. Experts predict that over 10 percent of that $40 billion could go to companies that help consumers manage their HSAs, so insurers are maneuvering to be those companies.”

Karen Kerrigan, WE Inc.