Introducing Summer Bellessa, Founder of Eliza Magazine

Here’s one of my most favorite people I met in 2009: the talented, beautiful (inside and out) and ambitious Summer Bellessa former Model, Founder and Editor of Eliza Magazine. Summer’s vision for sharing modest fashion as an art form is inspiring and beautiful. It’s clearly a challenge to create a new magazine in today’s economy yet Summer has proved there’s a market for her niche. I remember a conversation where Summer shared with me that yes, a lot of magazines have and will go digital (Eliza magazine offer both options) but fashion mags won’t become extinct because women want to tear out their pages…(so true! I have a vision board with some of her pages).  If you haven’t seen a copy of one of her magazines check it out on her site and you’ll love the narrative style of her features and the interviews are fantastic. Be sure to check her blog too!

Enjoy getting to know Startup Princess Summer Bellessa!

Hometown: Chicago Heights, IL

Current Residence (City, State): Los Angeles, CA/Gilbert, AZ

Education: Some college, but I never did get that degree.

Professional Background: Modeling, now publishing

What you wanted to be when you grew up: Model/Actress/Creative

What you are: Editor and Founder of ELIZA Magazine

Brief Summary of your Start Up: I started ELIZA Magazine because there were no magazines that had my view point. I wanted high fashion with positive articles and images of women.

Company Website? elizamagazine.com

What inspires you? Audrey Hepburn inspires me with her style and the life that she led.

How long have you been in business? 3 years

How did you fund it? Bootstrapping it.

Do you have a Fairy Godmother (or Mentor)? My mom.

Do you belong to any Business Organization or Networking Groups? Smarty LA, Linkedin

Current Business Challenge? The economy

What are you doing about it? Cutting back, but still being bold.

Favorite motivational quote: “The future belongs to those who believe in the beauty of their dreams.” – Eleanor Roosevelt

Family? Not yet, someday.

Favorite book? The Bell Jar and Where the Sidewalk Ends

What do you do to relax? Watch movies in bed with my hubby.

What do you want to change most about your world? Make more money.

What are you most proud of? I try to learn from my mistakes and help those around me.

What advice would you like to offer other Startup Princesses? Start now with what you can, don’t wait for everything to be perfect.

Favorite Magic Wand (tool/resource)? Friends.

If you could design a tiara, what precious stones would you use? I would design a tarnished silver wreath of encrusted diamond flowers.

Reselling Products Online: Dropship vs. Wholesale

Have you ever heard of a magical supply chain management system known as “dropshipping”?

Dropshipping is a way of purchasing products for resale without carrying an inventory. You sell products to customers, whether on eBay or your own website, and then you order those products from a dropshipper who ships them directly to your customer.

Dropshipping is a legitimate way to purchase products for resale, and more manufacturers and distributors are offering dropshipping services all the time. However, like any system, it has its pluses and minuses.

The purpose of this article is to compare purchasing products via dropship to purchasing from a wholesaler so you can decide which system would be the most beneficial to your online business. Dropshipping vs. Wholesaling is an intense battle, like Coke vs. Pepsi or Mac vs. PC. The system that works best for you will probably have a lot to do with your capital, the type of product you want to sell, and your commitment level.

An Overview of Dropshipping

Purchasing your products via dropship is beneficial because it prevents you having to carry an inventory. This means you don’t have to make a large initial investment, and you don’t have to rent or purchase a warehouse or other space to store your products in. You don’t have to buy packing and shipping materials or spend the time to package and mail each order. Because you have no inventory, your product line is extremely flexible: if a particular product isn’t selling, you can simply remove the listing from your website or eBay store – you don’t have to worry about unloading a bunch of unsold cowboy hats or roller derby skates.

The Negative Aspect of Dropshipping

The biggest negative of dropshipping is that you almost never get as good a price as you would purchasing wholesale. I recently contacted a supplier of hand-made bamboo furniture and the difference between dropship and wholesale rates was staggering: their chairs were discounted 75% off retail price when purchased wholesale, but only 25% discounted when purchased via dropship.

In general, wholesale products can be purchased for around 50% retail cost, and dropship products for 75% . Dropshippers may also charge fees – from $3 to $20 per order. Depending on the product and order size, this can take a significant bite out of your profits. Other issues revolve around supply. When purchasing from a dropshipper, you have much less control over the availability of products. Also, dropshipping does not allow you to dictate how the item is shipped, and returns can be tricky.

The Benefits of Wholesale Product Souring

By contrast, purchasing wholesale allows you more control but also requires a larger investment and greater commitment. Here are a few things to consider:

• You’ll get your products cheaper, but you’ll have to store, package, and mail them.
• You have to count the time you spend on order fulfillment as costing an actual dollar amount – the phrase “time is money” is not just a cliché.
• The hours you spend packing and shipping orders are hours that you could have invested into other aspects of your business, or used to earn income through another venue.
• When purchasing wholesale, you may have to make a large initial order (anywhere from $100-3000) or buy products in “packs” or “crates” (six pairs of jeans or a flat of 40 candles).
• If any of your products don’t sell, you’re faced with slashing the price or eating the loss.

Purchasing wholesale allows you to control your inventory and ensure you have the supply to meet your demand. You also have more flexibility in how you sell your products. Promotional offers like “free shipping on orders over $50” are much easier when you have control over the order and the way it’s shipped. You may be able to negotiate bulk shipping discounts with a post office or courier, and you can easily include fliers and promotional materials in your packaging. One of the biggest benefits of doing the order fulfillment yourself is the ability to exercise quality control – you can examine each product you send out and provide extras like a thank you note to your customer or gift wrapping.

3 Things to Consider – Dropship vs. Wholesale

1. Are you absolutely sure what product you want to sell? Imagine that you want to sell umbrellas online. If you are positive that umbrellas are all you want to sell and you’ve done the requisite market research, then you may want to go ahead and purchase wholesale. If, however, you think you might want to sell umbrellas, but are also considering golf clubs, teddy bears, and power tools, you could test-run your prospective products using a dropshipper.
2. Is there is a dropship or wholesale supplier available for your product? While almost any product can be purchased wholesale, dropshipping is not yet as diffuse. Brand-name products and certain other categories like clothing are more frequently available through wholesalers than dropshippers.
3. Can you afford to use a wholesaler? Purchasing wholesale simply may not be an option for you because you don’t have the capital or credit score for a large initial order. In this case you may want to use a dropshipper for a few months until you’ve built up enough profits to invest in a wholesale purchase.

Segueing from dropshipping to wholesaling or using a combination of the two systems is often the best option. Using a dropshipper allows you to experiment, to findwhat products work the best for you. You can test the popularity of your products before making a large commitment to them. In some cases, you may want to use a dropshipper for the majority of your product line, but purchase one extremely popular product through wholesale to get a better discount. Generally I encourage people to sell products from a dropshipper in the initial stages of their online business to get the hang of it, and they can switch to purchasing wholesale later to improve their profit margins.

If you are interested in finding dropship or wholesale suppliers, there are many databases you can access for small monthly or annual fees.

One of the best dropship companies I work with is WholesaleMatch.com. They provide a 100%

money-back guarantee, if you don’t make your money back within the year, as long as you give them the chance to work for you by accessing their services at least once a month.

Leah Darrow is a blogger for a wholesale dropshipping company. She also writes educational material for Fortune Learning Systems

and Stores Online, all geared toward helping people start online businesses. She and her husband Ryan were married in December 2008, and they live in Provo, UT.

Dare to Dream: Seize the Opportunities and Embrace the Challenges of Life and Business

Have you ever wondered what you would do if someone offered you an opportunity to leave your career job (with benefits) to buy into a business with no jobs on the calendar, no benefits, a promise that it will be whatever you make it out to be Read more

Introducing Catey Hill, Author of Shoo, Jimmy Choo! The Modern Girl’s Guide to Spending Less & Saving More

Here’s a smart girl, Catey Hill (Money Editor for New York Daily News Online and former Forbes Financial Marketing Manager) who knows what she wants (shoes mostly) but she’s wise enough to set limits and boundaries to keep her finances in check.  Luckily for the rest of us she’s written a book to share her strategies and tips to help other women in their 20’s-30’s take control too.  Catey covers spending, credit cards, student and auto loans, saving, investing, buying a home, and more. She teaches with a I’ve been there/big sister approach and offers exercises and worksheets to help her readers.

I recently met Catey on Twitter and was delighted to learn about her newly released book, with a catchy title “Shoo, Jimmy Choo! The Modern Girl’s Guide to Spending Less & Saving More”. I thought many of our readers would resonate with the subject of Catey’s book, (it’s 0n my Amazon wishlist) and enjoy learning more about why and how she wrote her book.

Congratulations Catey for publishing your book and for her publisher for moving mountains to get it in the stores before Christmas too…way to go! Best wishes with your book launch and all the opportunities ahead.

Enjoy getting to know Startup Princess Catey Hill!

Hometown: Atlanta, GA

Current Residence (City, State): New York, NY

Education:
- B.A. in Psychology, Business Minor from Tulane University
- M.A. in Journalism from the University of Texas at Austin

Professional Background:
-Author, Shoo, Jimmy Choo! The Modern Girl’s Guide to Spending Less & Saving More (Sterling Publishing, $14.95)
- 6 years of professional marketing experience, including working as the Financial Marketing Manager for Forbes
- 6 years of professional writing experience, including my current position as the Money Editor for the New York Daily News online

What you wanted to be when you grew up: A veterinarian (but as it turned out, I faint at the sight of blood!)

What you are: Writer (a pretty blood-free profession, so I’m doing OK).

Brief Summary of your Start Up: I’m an author and I’m pleased to share my first book, Shoo, Jimmy Choo! The Modern Girl’s Guide to Spending Less & Saving More.

Company Website: www.ShooJimmyChoo.com

What inspired you? Watching other women go through what I did – spending to much, not saving enough, feeling intimidated by money management and investing – and realizing that there was not a personal finance book that truly spoke to women like me (those of us who know we’ll never give up gorgeous shoes or much-needed beach vacas but still want to get out of debt and save more).

How long have you been in business? 3 years

How did you fund it? Currently, I work as the Money Editor for the New York Daily News to supplement my income as an author (what can I say, I love new shoes, and I can’t afford them on my author salary alone!).

Do you have a Fairy Godmother (or Mentor)? My girlfriends

Do you belong to any Business Organization or Networking Groups? Association of Women in Communication, LinkedIn

Current Business Challenge? I’d like to help even more women manage their money in a savvier way.

What are you doing about it? I’m working with the New York Junior League on a free seminar series, and I hope to partners with other organizations to do something similar.

Favorite motivational quote: Just do it.  (OK, it’s a Nike tagline, not a quote, but I love it! It’s simple, concise and inspirational.)

Family? Jay Robert (partner);  Mouse, the cat (yes, she’s family!); Carey and William Hill, parents; Susie Hill, sister; my girlfriends.

If so, how do you balance family and business? I block out “no-work” zones on my calendar at least twice a week and go have drinks with the girls, see a movie with Jay, have brunch with an old friend, etc.

Favorite book? Anna Karenina

What do you do to relax? Reading, writing and wine (what can I say? A nice glass of Savingnon Blanc after a hard day of work works does the trick!)

What do you want to change most about your world? Time – I need more hours in the day.

What are you most proud of? My book, Shoo, Jimmy Choo! The Modern Girl’s Guide to Spending Less & Saving More, and my relationships with my boyfriend and friends.

What advice would you like to offer other Startup Princesses?
1)    Don’t be intimidated by managing your money!
You can spend less, get out of debt and save smartly.  Ladies, if I – the girl who can’t spend an hour without scouring the eBay for the latest Prada bag and who refuses to wash her hair with anything other than Kerastase – if I can do it, so can you!
2)    Start taking control of your finances today!
The sooner you start, the sooner you’ll have the money you need for your dreams.

Favorite Magic Wand (tool/resource)? Bankrate.com – when in doubt about almost any financial issue, they’ve probably got the answer.

If you could design a tiara, what precious stones would you use? Emeralds and diamonds.  Green is the color of money – and we all know I love money – and diamonds, in addition to being a girl’s best friend, are elegant and classic.

Thank you, Catey!

5 Things To Help Lower Your Tax Bill

Before the year is through and you put away all the Christmas decorations, stop and consider your bottom line – your business bottom line.  Your goal is to decrease your taxable income and lower your overall tax bill.

Here are 5 easy steps cash based businesses can take now that may help:

1. 1. Pay any and all outstanding bills – If you have stacks of bills on your desk that you have set aside until after the holidays to pay – don’t!  Pay your bills now.  If you write the checks on or after January 1st you may not be able to claim the expense on your 2009 tax return.
2. 2. Consider buying new equipment – The IRS will again allow you to expense as much as $250,000 worth of new equipment purchases before depreciation comes into play.  Take advantage of this opportunity.  Even upgrading your software or purchasing a new printer can lower your taxable income for the year.  Remember the equipment must be for business and not personal use.
3. Purchase any needed supplies – A jewelry designer has orders for 50 sets of earrings to be delivered in early February.  Don’t wait until January to buy the supplies you know you will need.  Purchase them before the end of the year and expense them on your 2009 tax return.
4. Pay employee bonus’s – Employee bonuses are often based on total income earned for the year or other revenue goals.  This is a great incentive, but write the check on December 31st so you can record the expense in 2009.
5. Invoice after the 1st of the year – If your business is cash based, meaning you don’t accrue income using accounts receivable and you only recognize income when the cash is received, wait to invoice clients until January 1st.   This will allow you to recognize the income in 2010 rather than 2009.

These are just a few ideas to get you started. As always, please consult your accountant or tax advisor as these strategies may not be best for all individuals and/or small business.  You are also welcome to contact me directly with any questions at lindseypatrick1 (at) yahoo (dot) com I would love to speak with you.

Startup Princess Included on Forbes List of 30 Women Entrepreneurs To Follow On Twitter

Recently, Forbes.com published a list of the top 30 women entrepreneurs to follow on Twitter.

Not only is this a fantastic networking resource for so many of us in the Startup Princess community, but it’s an honor for Kelly King Anderson, the original Startup Princess herself, to be featured on the list.

We hope that you’re all taking advantage of the awesome opportunities at hand. Thanks for helping make Startup Princess the success it is!

Introducing Heather Barnard of Chickadee Prints

It’s always exciting when I get to know a Startup Princess pre-launch and get to follow their journey post-launch. Heather Barnard has been a pleasure to follow and watch in action, with lots of energy and enthusiasm. I was touched as I read Heather’s answers in her interview, she’s a tough chick, so it’s appropriate that her online stationary business is called Chickadee Prints! I also really like how they appeal to all the twitter users with their tagline “Sharing Your Tweetest Moments”. Be sure to check out the adorable selections, loving the mommy calling cards and great holiday choices!

Enjoy getting to know Heather Barnard of Chickadee Prints!

-Kelly King Anderson, Startup Princess Founder

Hometown: Carmel, CA

Current Residence (City, State):  Draper, UT

Education: Master’s in Education

Professional Background: In my post graduate professional career, I’ve done two things: I was an elementary school teacher, teaching 2^nd and 6^th grades, and then an inspiring entrepreneur!

What you wanted to be when you grew up:  A mommy to a lot of kids!

What you are:  A mommy to 3 wonderful children ages 16 mos, 3.5 yrs., and 5 yrs., a wife, and a mompreneur

Brief Summary of your Start Up:  Chickadee Prints offers beautiful stationery for almost any occasion, printed on high quality cardstock which is FSC certified because we care about our environment.  Our site now allows our customers to take control by having live text editing and proofing, and soon to be, live photo editing.

Company Website? www.chickadeeprints.com

What inspired you? I was inspired by other mompreneurs!  I saw that they were achieving dreams they had, and knew that I could do it to.

How long have you been in business? I started under a different name three years ago on a VERY part-time basis, with me alone, and doing everything custom.  It wasn’t working.

How did you fund it? We didn’t have much to put down at once to build it all, so we slowly put what money came in towards it, and over a year, we finally have what we need.

Do you have a Fairy Godmother (or Mentor)? I have so many people who have supported me, helped me, and stood by me.  Everyone from Julie Cole at Mabel’s Labels, to Allyson at Ladybugs and Lullabies, to my biggest fans…my step-mom and my husband.

Do you belong to any Business Organization or Networking Groups? Startup Princess

Current Business Challenge? Marketing

What are you doing about it? I have joined with a few PR companies to spread the word, and I am a social networking butterfly!  I am on Facebook and Twitter which has opened a lot of doors, even before opening!

Favorite motivational quote: “You have brains in your head. You have feet in your shoes. You can steer yourself any direction you choose. You’re on your own, and you know what you know. And you will be the guy who’ll decide where you’ll go. Oh the places you’ll go.”  OH, THE PLACES YOU’LL GO! Dr. Seuss

Family? Yes, I have 3 children.

If so, how do you balance family and business? It’s hard!  When I’m working from home, I feel guilty because I should be with my children.  When I playing with my children, I feel guilty because I should be working.  The best thing I’ve figured out is to have an actual office in the home, where the door can close during business hours.  And to set those hours firm, so that business can end, and family time can begin.  We have also made sure to have a bi-monthly date night set in stone, and weekly family night, also set in stone.  This helps me to make sure that neither the business nor the family falls short of the other.

Favorite book? Goodnight Gorilla

What do you do to relax? Right now, I haven’t found a lot of relaxing time…but we try to take family vacations to major decompressing at least twice a year.  On a smaller scale, for me, just getting out of the house to go grocery shopping is relaxing since I’m on my own, and not thinking about the business.

What do you want to change most about your world? I want my world to be filled with a more understanding and compassionate people.  I feel that there is still too much daily judgment on everything from religion to skin color to sexual choice to material items.  It creates a lot of stress.

What are you most proud of? I’m most proud of never giving up.  I lost both parents by the age of 17, I could have easily given up.  I’ve been through a miscarriage that could have been a roadblock for me, but I’ve overcome.  And most currently, I am most proud of getting through the tears and frustrations of trying to launch this business, and finally getting it up and running.

What advice would you like to offer other Startup Princesses? Simply…don’t give up!  Have you seen the movie Meet the Robinson’s?  Just ‘keep moving forward’.

Favorite Magic Wand (tool/resource)? The Internet!  As funny as that might sound, the Internet has been such a wonderful wand for me!  The resources I have found through networking, have been amazing, presenting lots of opportunities for me.

If you could design a tiara, what precious stones would you use? A Sapphire, an Emerald, an Alexandrite, and a Blue Topaz…the stone of my children.

Life Balance: Who Decides?

It’s probably fair to say that whenever we hear the topic of work/life balance, we all wonder if we’re doing it right.  I decided quite a while ago that because my family is who I make those efforts for, it’s best to be checking with them when I wonder how I’m doing.  (This article was written by Carol Rice of Cherish Bound and Startup Princess Fairy Godmother) Read more

3 Secrets to Measuring Success in Your Online Community

Meet Vanessa Brown- Blogger, Internet Marketer, and Entrepreneur

It’s been a pleasure to watch Startup Princess Vanessa Brown of our Salt Lake City Chapter grow and develop her multiple businesses-  INeverGrewUp.net (blog), MomsMakeMoneyBlogging.com (membership site to learn to make money with a blog), and AKickIntheBuzz.com (social media marketing company). Vanessa’s organized, resourceful, innovative, and inspiring– a true bootstrapping, “get it done” business owner who demonstrates that it’s possible to make money doing what you love. If you’re on Twitter be sure to follow Vanessa @inevergrewup

Enjoy getting to know Vanessa!

Hometown: Maryland, Virginia, Massachusetts, Texas, Arizona, Utah (we moved quite a bit)

Current Residence (City, State): Salt Lake City, Utah

Education: ‘The School of Hard Knocks‘

Professional Background: I have the cliched resume of dead end, no-brainer jobs, sprinkled in with a few nanny jobs that I loved.  Everything changed when I started working for myself and since that has happened I’ve been a writer, blogger, marketer, and consultant helping to promote my own products and those of local businesses.

Brief Summary of your Start Up: Two years ago after having my second daughter I was starting to feel very stuck and empty inside. For my 5^th wedding anniversary my husband bought me two years of website hosting fees and told me I should write about something I love, which is what INeverGrewUp.net is. That is when I found the blogging world and soon knew that this was it! Nine months later after learning the social media world I put together for a few good friends (the owners of the restaurant Blue Lemon) a blogger event and signed them up for Twitter, the reponse was huge. My name for social media marketing spread like wildfire so I started my own company, AKickIntheBuzz.com. About six months ago emails, facebook messages, voicemails, neighbors popping by asking me how to start a blog and make money with is started pouring in everyday. Three months ago I launched my MomsMakeMoneyBlogging.com online membership site where I teach women through a seven month program how to make money with their blogs.

What inspired you? My husband.  When my daughter was born he decided to make his career dreams come true by starting his own business and he did it successfully. He helped me to realize my potential and how to be successful with it.

How did you fund it? My only cost was the design of the sites (averaging $100 each) and my $4.95 monthly hosting fee! I have never spent any money on marketing and have not needed to spend big bucks and instead have been doing things like press releases to gain free press, link building in many different ways, by word of mouth, affiliate programs, article marketing, etc.

Do you have a Fairy Godmother (or Mentor)? I am still looking for “my mentor” although I have a great group of fellow blogging friends that I learn from and bounce ideas off of.

Do you belong to any Business Organization or Networking Groups? Startup Princess and luckily I meet a lot of Utah business owners through my husband’s line of work.

Current Business Challenge? How to continue to get my name out there for my online membership site, MomsMakeMoneyBlogging.com where I teach my members how to make money through their blogs. My membership numbers are growing every month but I am looking for it to grow quite a bit more!

What are you doing about it? I started an affiliate program that has been quite profitable for the affiliates but also in gaining more leads. I have a button they put on their site with certain coding that gives them 50% of the sale per month that I get off of every lead. So it is very profitable for both of us.

Favorite motivational quote: “You’ll wish you would have tried harder when you realize who you really are.” –Henry B. Eyring

Family? Husband, two daughters (two and three) and two dogs!

If so, how do you balance family and business? Recently my husband and I decided that he would take off Mondays from work so I could spend the whole day working. Every other Tuesday my mother helps me with my girls so I can meet with clients. Then I spend 2-4 hours per day Tuesday – Friday working on whatever I did not finish. I am quite a stickler with my schedule, swear by time mapping my week and when I don’t the whole family suffers! When I am with my girls, I don’t do work, I just enjoy them and I love it.

Favorite book? Man’s Search for Meaning by Viktor E. Frankl

What do you do to relax? Reading, wasting time on Facebook and Twitter, cooking with my family, hiking with my girls, we try to be outside most of the day.

What do you want to change most about your world? I want to become more financially stable, we are a self employed family and even though we have been so blessed I would love to feel more stable. We are working towards owning a house in Spain soon and living there three months out of every year.

What are you most proud of? That I am more and more getting over my fear of meeting new people, speaking in public and that I have created three successful companies in the past two years.

What advice would you like to offer other Startup Princesses? Believe in yourself, believe in what you can become, take a deep breath and put yourself out there. Don’t hold back, don’t live a life where you “wish” you had done this or that.

Favorite Magic Wand (tool/resource)? The book Time Management from the Inside Out: The Foolproof System for Taking Control of Your Schedule and Your Life by Julie Morgenstern. It is a must read and will be such a huge help to you.

If you could design a tiara, what precious stones would you use? It would have none, it would be even more simple than my thin fake silver wedding band but even more beautiful. It would be made out of the things my girls and I use to make “fairy houses” up in the mountains; twigs, wild flowers and pinecones.

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