Entrepreneur Spotlight

 

Erin Olson- Ladies Who Launch Organization

 

By: Jill O'Farrell

 

Across the country, women are starting businesses at a previously unequalled rate. According to the Small Business Association, women-owned businesses increased by 19.8 percent between 1997 and 2002. In addition, women-owned businesses saw an employment increase of 70,000 jobs, while businesses owned by men saw an employment decline with a loss of 1 million jobs. It comes as no surprise then, that many networking organizations are specifically targeting female entrepreneurs in the hopes of tapping into this ever increasing demographic. One such organization is Ladies Who Launch (ladieswholaunch.com), whose motto touts, "Entrepreneurship and creativity as a lifestyle."

In order to understand the purpose for a gender specific entrepreneurial organization, certain ideas must first be espoused. Erin Olson, the recently appointed Salt Lake City area Ladies Who Launch Incubator leader, says that based upon research done by Ladies Who Launch and the personal experiences of its founders and members, women approach business differently than men.

"Women tend to be more passionate about their ideas," says Olson. "Women don't start businesses for the same reasons men do. They tend to treat their businesses like children, so any feedback they get affects them personally."

It is for this reason that no negativity is allowed at any function of Ladies Who Launch. This allows for a nurturing environment where participants are not fearful of expressing their business aspirations. Olson says that there are, of course, many women who prefer to approach business in a more traditional way. She often refers to this as a suit-and-tie, nine-to-five way, but for the rest of the female population, Ladies Who Launch offers a different approach — one that Olson calls more organic. Emphasis is placed on what is best for each individual — what comes naturally to her — and participants are encouraged to live an entrepreneurial lifestyle, that is to meld their goals and aspirations with their realities.

Ladies Who Launch was founded by Victoria Colligan and Beth Schoenfeldt in 2002. Originally the two women were each running their own organizations. Co-founder Colligan ran an organization of information to educate entrepreneurial women. Colligan joined forces with Schoenfeldt, who had already launched a networking program called the Incubator, which is still a central part of the Ladies Who Launch experience.

It wasn't until the two women met that they saw the true potential of their individual visions. This mutual discovery and collaboration serves as a perfect microcosm for what happens when a woman attends the Incubator and becomes actively involved in Ladies Who Launch.

The first step in becoming involved with Ladies Who Launch is to join a month-long incubator session, called the Incubator Intensive, which costs $250. Olson describes the ideal candidate for an incubator session as not belonging to any particular demographic, but as possessing a certain state of mind — the creativity and desire to do business when she wants and how she wants. Each session consists of four two-hour classes spread out over four weeks. For those four sessions, the same 12 women will meet, discuss, and ideally, refine their own entrepreneurial visions.

Other organizations utilize incubators and similar forms of small group networking, but what sets the Incubator Intensive apart is the focus on nurturing each other's ideas and the individual follow-up. After each session, the women leave with homework assignments — tasks they are to complete to help keep momentum and excitement going between sessions. The first week's task is to write a plan for every other participant's project. Another task is to contact 10 other people and share one's business plan. In doing this, the participant is forced to frequently revisit her own idea with the added input and advice of 10 other individuals, all with unique perspectives. This helps the participant to flesh out and refine her idea.

"This will help the woman to come up with a pitch and condense her ideas — creating a sort of elevator pitch," Olson says.

Over the next three weeks the participant further develops her idea with the input of other participants and guidance of the Incubator leader.

It is hoped that once a participant completes an incubator, she will join the ongoing program. As a full-fledged member of Ladies Who Launch, an individual is able to attend eight annual Ladies Who Launch meetings for free (participants can listen to guest speakers, participate in activities and get acquainted with other members); have access to the contact information for every member nationwide; receive $600 worth of advertising on the Ladies Who Launch national Web site; and receive discounted admittance to all Ladies Who Launch live events nationwide. Regardless of membership status, a free weekly newsletter, which examines the strategies and businesses of successful female entrepreneurs, is available from the Ladies Who Launch Web site.

This past March marked the introduction of Ladies Who Launch to the Salt Lake region. Olson will head up the first local Intensive Incubator as a leader and participant. Her own business goals center on creating a unique fashion camp for local youths. A fashion industry insider who has worked both on the runway and in the design studio, Olson wants to help teens learn to love the creativity of fashion without sacrificing modesty. After having lived abroad for six years and working in the fashion industry for nine years, Olson's experiences have left her with mixed feelings about the industry in general. The goal of her camp, the Cleverly Chic Style Camp, is to allow her to make a positive difference in the industry.

Even though Olson seems to have a clear vision of her desired business, she stresses that having a perfect idea for a business or project — the visions of the participants do not necessarily have to be money-making ventures — is not a prerequisite for attending an Incubator Intensive.

"If you don't have an idea, you can come to a Ladies Who Launch Incubator and by the time you leave, you will," Olson says.

Because each incubator is about the uniqueness and creativity of each woman who attends, every incubator is different — women are not grouped based on the focus of their plans, so within any given incubator, there is limitless possibility for creativity and individuality. This bodes well since Utah has a very unique female demographic. According to the 2000 U.S. Census, there are more than 800,000 Utah women in the labor force. Each woman has a circumstance as individual as she is, and Olson sees the potential for many women, who have perhaps never thought of owning their own business, to be buoyed and inspired through membership in Ladies Who Launch.

"There is nothing cheesy about this," Olson says. "It is really just about women getting together and helping each other out."

As it exists today, Ladies Who Launch is an organization devoted to helping women make their entrepreneurial goals concrete through education, inspiration and interaction with like-minded women. To any possible detractors, though Olson says she has yet to encounter any, she says to look at the women who have participated in and are members of Ladies Who Launch. "Ladies Who Launch has worked and it will continue working."

 

Launch - May/June 2007

 

 

For the full "digital magazine" version of May/June 2007, visit: http://www.nxtbook.com/nxtbooks/growutah/launch0507/