Board Meeting Preparation Tips?

If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!

I would love someone (or a few people) to give me some “magic wands” here for how they prepare for a board meeting. Friday is my second one for my start up, sweet & charming and I’m still trying to figure it out…but, this is what I’m doing to prepare:

1. Focus Group: We had playgroup today at our house and I was in charge, so I thought I use the time to talk to my friends/moms about princess-related products that I sell for sweet & charming. I demo-ed a lot of products and let the kids play with stuff…even though this was not really in preparation for my board meeting, it did help me. My friends were asking me “where did you get that book? How much is that skirt? etc. “I didn’t see that at your kiosk…” “Do you have Disney dress ups?” NO. It’s time to have a website, I think. It keeps coming up…we’ll discuss it tomorrow.

2. De-stress! After I put my kids in bed I took a long hot bath because even though I have an awesome Board (Joe Franchesci, COO of Naartjie, Jeff Donovan, Donovan Developments, Leslie Smoot, Set Designer/Props for Film, Joe Atkin, Manager of Sorenson Capital, and Karl Larsen, VP of Retail, Roberts), I’m still a bit nervous about it. It helped immensely.

3. We’re using Free Conference Call, so I need to email everyone the phone number for them to call in. The first time we met in person, but that isn’t possible this time, so we are using this option.

4. I’ll create an Agenda and email it to them so they can review it/follow along during our call.

5. Financial Reports. I’m looking over my Quickbooks and compiling all the essential data they want to know about how our holiday kiosk went and holiday events. I’ll email them these figures as well.

6. Evaluation: Since my business is a retail-based one, I’m creating a summary of what inventory did well, what didn’t sell so great, and what price points worked well for us.

7. Marketing efforts summary, reviewing what we did do for marketing and how effective or ineffective it was

8. Goal Setting/Brain-storming, I’m going to present my ideas and ask for their advice; in my case I need to hire a manager, so I’m going to see if they know anyone they can refer to me. I’m also considering launching an ecommerce site soon, so we will discuss the pros/cons of that.

9. I’ll ask someone else to type minutes so I can focus on the discussion.

10. Following the meeting: A Summary of Objectives will be created and I’ll email it to the group

I suppose if my business was more involved there would be much more planning and preparation…but this is what I think is necessary for the start up stage I’m at. What do you think? Am I missing any vital steps??

Share This

Free Funding Competition for Utah Entrepreneurs!

Free Funding Competition for Utah Entrepreneurs
Apply Now to Participate!

At the Governor’s Utah Economic summit on March 22, 2007 a select group of entrepreneurs will have the chance to present their business ideas to a group of angel investors. Up to a $100,000 investment will be awarded by the angels to the winning entrepreneur.

Brock Blake, CEO of FundingUniverse invited all entrepreneurs in the state of Utah to submit their plan for consideration. Summit sponsors, FundingUniverse and Grow Utah Ventures will review all of the submitted plans. Five companies will be selected to present on March 22. Plans will be accepted up through March 6, 2007.

“All entrepreneurs in the state of Utah should take advantage of this incredible opportunity,” Blake said. “It is easy to submit your plan for consideration – just go to our website at www.fundinguniverse.com and look for the Funding Competition icon.”

After submission, the FundingUniverse team will provide each entrepreneur with initial feedback on the overall quality of the business opportunity. Those selected for presentation at the Summit will also be assisted in preparation for the pitch.

“We will work with the semi-finalists to help them prepare the very best presentation possible,” Blake explained. “We believe this opportunity will surface some of the best entrepreneurs and the strongest business models in the state.”

The presentation by the entrepreneurs to the angels will be conducted as a part of the Summit and open to summit attendees (a live audience). This will provide a unique opportunity to listen in on the dialogue between entrepreneurs and investors. Attendees will be able to hear the angel investors discuss the strengths and weaknesses of each business. All who attend will come away with a strong understanding of how to make their respective businesses more attractive to equity investors.

“This is a very unique opportunity for all of Utah’s entrepreneurs,” said T. Craig Bott, President and CEO of Grow Utah Ventures. “Not only will the entrepreneurs who are selected have the opportunity to make their pitch to active Angel investors in Utah, but those in the audience will be able to watch the presentations. The attendees will gain some great insight as they hear the Angel investors discuss the strengths and weaknesses of each pitch. Those attending will come away with strong understanding of how to make their respective businesses more attractive to equity investors.”

What: Economic Summit and Funding Competition
When: March 22nd, 2007
Where: Grand America Hotel (Salt Lake City)
Who is invited to apply: All companies that are seeking equity capital for their company
# of Semi-Finalists to be selected to present: Five (5)
Application Deadline: March 6th, 2007 (by midnight)
Cost to Apply: FREE! Go to http://www.fundinguniverse.com/goedsummit

Share This

Elevator Pitches Come in Handy at Networking Events

Tonight Utah Start Up Princesses from around SLC and Utah County areas gathered to reconnect, meet, enjoy a bit of networking, learn top marketing tips. I even treated everyone to my yummy strawberry-banana smoothies (some even were brave enough to try my delicious (but very green) spinach-strawberry-banana smoothies). The event was held at Wendy Bird’s fabulous new Gifts That Lift store. It was great meet new friends and finally meet some old friends (that I’ve known only online)! We welcomed new Start Up Princesses Carol Rice, Wendy Bird, Melissa Demourdant, and Katie Matteson!

Carey Olsen, owner of the Children’s Orchard in Orem spoke to us about marketing and how she’s had success with getting features on radio, tv, newspaper, and many other ideas…a post summarizing her presentation is coming soon!

Today’s Magic Wand: One key point that Carey shared was that you should “create and practice your elevator pitch” because you will use it over and over again with introductions to potential clients and on the phone when you are pitching your concept to a reporter…it is so true! That little 30 second pitch is their first impression of you. Own it, make it your time to shine!! (This came in handy for our “speed networking”… everyone had to give their pitch to each other). Be memorable, short, and interesting! Give them something interesting so that they will be compelled to ask you more questions.

Share This

Remember Marketing Begins before the Trade Show Starts

I’m in the midst of helping my husband, Matt Anderson of Wholesale Works (wholesales consumer electronics, home theatres, a lot of Dell Computers) prepare for his first trade show March 7-8 here in Utah County at the Big Business and Technology Expo.

We spent an hour or so last night brainstorming how to get clients/potential clients to his booth, what to do during the show, and what to do following the event. He hadn’t really considered marketing before the event, mainly just concentrating on what he would do to decorate his booth with signage, etc. I think this is a common mistake, but from my experience being invited to “find a booth” gets people excited about what they are going to see at the show and in a sea of exhibitors you need to do all you can to get their attention. He’s going to be sending a special invite early next week with free tickets and free lunch will help entice them to come and remember who sent them the opportunity…hopefully we’ll see some of those people we’re inviting at the booth and be able to set up appointments with them to see how Wholesale Works can help them get wholesale pricing on their personal and business consumer electronics.

If you’re in Utah County we’d love to to invite you to the show, compliments of Wholesale Works. Comment below or email me Kelly AT start up princess DOT com.

Today’s Magic Wand: If you are planning to attend a trade show this year, pay attention to the pre-marketing efforts, take note of what you think is effective and then when it’s your turn you’ll have some fresh ideas!

Share This

17 Year-old Buys Grocery Store!

If you haven’t heard of this entrepreneurial story yet…you will and I hope every young person in America watches this story. Check out this inspirational news feature on YouTube. This young man decided to buy the last local grocery store to help the struggling small town Minnesota community pull together and it’s working!

Share This

Getting Started as an Internet Reseller: Finding the Right Supplier-Seller Fit

Written By Fairy Godmother Erika Wilde, StopDirt.com

The ease and profitability of internet re-selling is alluring. No warehousing. You pay for products only after they are sold. No time-consuming packaging and shipping. In fact, an internet reseller is probably the ideal money-maker for a stay-at-home mom. With the right supplier-seller relationship, you can enjoy all the perks (namely, the profits!) of being in business with very few risks.

But how do you judge a good supplier-seller fit?

As an internet re-seller for eight different suppliers, I suggest asking these questions about the potential supplier:

1. Can this potential supplier meet my demand? At first, it can be hard to know how much product you’ll sell. If you start small, can your supplier grow with you? Is there a limited supply or frequent back-orders from the supplier?
2. How will your customer know the product comes from you? Ideally, a supplier will include in all shipments a packing slip that bears your company name, not theirs. Additionally, a good supplier will be open to labeling the products as yours instead of theirs. For example, my largest door mat supplier prints my company info into the rubber backing of all mats that they ship for me. At minimum, the products you sell needs to be blind shipped – shipped with no supplier information. Read more

Share This

Want to Buy a Company with $2 Million in Annual Sales?

The following post was written by the owner of a high-level company with a solid reputation and over 20 years in an established, thriving industry. The owner is seeking to find a buyer and pursue other interests. (The identity of the company is confidential at this time). Interested buyers should contact Kelly via email (Kelly AT Start Up Princess.com),
Please continue reading:

Many of the people who come to www.startupprincess.com are entrepreneurs who have started their own business, hope to start their own business and have what it takes to make a business thrive. Many times, these entrepreneurs have a vision of the kind of business they want to own and nothing will stop them from achieving that goal. What if you had the opportunity however, to buy a business that is already established? What if you could walk into a business that has been around for decades, has a great reputation, has a strong online presence, has thousands of loyal customers, has 2 Million dollars in annual sales and has the potential to do even more than that, and call it your own? Would that interest you? Would that be something you would consider?

I am an owner of a company who is looking to be acquired. The company is exactly how I described above and I came to Kelly King Anderson seeking help to spread the word via startupprincess.com. So many entrepreneurs come to this site seeking advice, ideas, and wisdom. Today, I’m advertising an opportunity to someone who wants to acquire a well established corporation. This business would definitely appeal to a creative, ambitious woman entrepreneur with endless potential! If you are interested in looking at this opportunity further, please contact Kelly and she will pass your information along. Or, if you know of someone who may be interested, please let them know about this site so they can get in touch with the correct people. Thank you.

Share This

Featured Interview: Cristy Clarke of TableTopics

This week we’re pleased to introduce and feature Cristy Clarke of TableTopics, a 3 year–old company that’s experienced serious growth and creates products designed to generate great conversations.  TableTopics are available in every state and on the internet and have been featured in many publications and television including Real Simple, Ladies Home Journal, and The Today Show .

As I visited with Cristy I was impressed by the manner in which she prepared to become an entrepreneur. Once her youngest was in school she knew it was the right time to create a “Room of Her Own”, a place where she was neither wife or mother, a place to create and build her dreams. She wasn’t sure what her business would be, but she would soon “give birth” to one of her ideas, so Cristy went to work making an office for herself. She wanted to create a business that could be a home-based business, one that she could “wedge into the space” of school hours and fill this time with something beautiful, something to share with others. After refining her business ideas, “TableTopics” won out and as the obvious choice. She was passionate about deep conversations and wanted to help facilitate meaningful discussions for families and parties.

Cristy’s husband, David, a financial planner helped guide Cristy into the next stages—research, developing a budget, a strategy, and helped her to only focus on what was necessary each day so that she could take each step necessary and not be overwhelmed by the task of product development. She says that he helped her “manage her anxiety” by breaking it down into bite sized chunks.

The Clarkes decided that they would use savings to fund the business and that they were going to do everything first class, since they had already answered the question that they were willing to invest in this business, that it was their family’s business…that it was going to be the “big dream” all the way…so part of this included hiring outstanding designers since design was very important to them and the brand. She knew that it needed to look good enough that families would want her cube on the table long term and not put it away as if it were a game. In order to hire excellent designers from San Francisco, Cristy and David had to enroll them in their big dream and convince them, apparently it worked because they were willing to take on the project with royalties as part payment.

Cristy’s success story has not only made me want to succeed in business, but also become a better mother. She’s an example of how to balance both—she’s absolutely clear about when it’s time to work and when it’s time to focus on her three girls. Although it has been a family business from the get-go and she enjoys sharing the business with them. In fact, before the Real Simple feature came out Cristy enlisted her daughters to fill orders after school from the website, but then it became too much work and they convinced Cristy to hire help!

What’s the future for TableTopics? Cristy’s quick to say that once this company outgrows it’s position as a home-based business and she needs to move into an office that it’s time to turn it over to a larger company who can benefit from the brand and help to grow it successfully. When Cristy talks of this she sounds like she’s raising one of her daughters…and preparing to send her off to an ivy league. She looks forward to high school graduation, yet she’s quick to say that she’s enjoying each day with her “baby.”

For more tips by Start Up Princess Cristy Clarke, please see her profile page!

Share This

Judge Life By The RIGHT Numbers

Today’s Magic Wand: Michelle Riddle, friend of Start Up Princess and Advertising assistant for Today’s Mama sent me The Numbers Movie last week and I keep thinking about it! It’s for women… I hope you enjoy it. (It’s about 2 minutes long).

Share This

Balancing Home, Family & Start Up

Start Up Princess Jamie Bird of MiniMe Baby Gear writes:

As my business has grown, I noticed work starting to creep into every aspect
of my day. My son would start playing by himself, so I would sneak off to
return e-mails, package and ship items, finish an order. It was a daily
dance of sneaking, finding, whining, shifting his attention, then trying to
work again. Pulled in two different directions, I was not being effective in
either. Even though in the wee hours of the morning everything was finally
accomplished, I felt worn out, sick from lack of decent rest, and most of
all, guilty.

A friend referred Suzanne’s Diary for Nicholas by James Patterson,
specifically the last lesson in the book. Imagine your life is a game of
juggling five balls- work, family, integrity, friends, and health. I also
have added a sixth, most important ball- my relationship with God. You‚re
trying daily to keep all of them in the air. Then you come to understand
that work is a rubber ball. If you drop it, it will bounce back. The other
five are all glass. If they are dropped, they will be damaged, scuffed, even
shattered beyond repair. And once you understand the lesson of the five
balls, then you will have the beginning of balance in your life.

This word picture made me realize that my life needed an adjustment. I want
my business to succeed, but I also need balance in my life. This philosophy
has made me put less pressure on myself to work constantly. I feel a lot
less guilty at the end of the day, and my son is happier too.

Share This

« Previous Page — Next Page »