Ready, Set, Goals
All three Seeds for Success finalists saw a need for something they couldn't
find in the marketplace and decided to take matters into their own hands. But no
matter how great the idea, creating a successful business takes a whole lot of
courage and an even bigger amount of goal-setting.
You definitely have to invest time and money--but into what, exactly?
Well, here are some of the three finalists' top goals when they received
their Seeds for Success grants.
For Dapple's Dana Rubinstein, having a good product was only half the battle;
the other major component was publicity. To promote her product, she planned to:
- Provide free samples in maternity wards, pediatricians' offices, nursery
programs;
- Build an online social network around Dapple where parents could get
information and exchange thoughts on childcare; and
- Create a Yahoo! Small Business store as a first step in making Dapple products
available nationwide.
Karla Duncan had all the knowledge to develop Head 2 Toe products, but first,
she needed sales revenues to put more of her plans into motion. Her goals were
to:
- Receive shipments to produce and sell three initial products at trade
shows and conferences;
- Build and launch a website to offer the products for sale; and
- Initialize strategic marketing campaigns for targeted audiences.
Abby Port of Red Koala Canvas Co. intended to launch her website before
getting the good news. But there was still no guarantee of the company's
success. She resolved to:
- Advertise products in publications targeting web-savvy mothers and
decorators;
- Seek out strategic partnerships with companies like Pottery Barn Kids;
and
- Explore new funding options like equity lines and credit cards.
If you're in the beginning stages of launching your entrepreneurial venture,
are you as prepared as these three?
It's no secret that women own millions of businesses in the U.S., and that
women-owned small businesses grow significantly faster than the average rate of
firms overall. So,
Yahoo! Small Business and
fwm designed the
Seeds
for Success program to play a role in empowering women entrepreneurs. Expert
judges reviewed applications from thousands of women with business aspirations
or existing small businesses and picked the three finalists who seemed to have
the greatest chance at breaking the mold.
In April, the selected finalists--Dapple's Dana Rubinstein, Head 2 Toe
Publications Inc.'s Karla Duncan and Red Koala Canvas Co.'s Abby Port--received
a $20,000 cash grant; $5,000 in free technical services to build a company
website; mentoring from top business leaders and successful women; free web
hosting services for two years; and promotional support from Yahoo! and fwm, an
online source for working women.
But that was just the beginning. What really matters is what the finalists
have done since then with these prizes. Rubinstein, Duncan and Port have started
or grown their companies with this financial, technical and mentoring support,
and they have blogged about their progress on Yahoo! Small Business.
Now, the entrepreneur whose business experienced the most growth will be
awarded the grand prize: another $10,000 cash grant, a trip to New York City to
meet Yahoo! executives and fwm co-founder, Carolyn Kepcher, also known by
millions as Donald Trump's former right-hand woman on NBC's hit series, The
Apprentice; and additional mentoring services and media support.
Read on to find out more about the finalists and their ventures. Be sure to
check out their blogs and cast your vote on the
Seeds
for Success website.
Dana Rubinstein, 29
Dapple: New York, N.Y.
Dana Rubinstein is co-founder of Dapple, a company that produces a line of
biodegradable household cleaners made especially for babies and their parents.
So far, Dapple offers a dish liquid and a dishwasher powder; a toy cleaner is in
the works.
Rubinstein's personal experience as a mother inspired her to start Dapple.
She was concerned about using synthetic soap to clean baby bottles and dishes,
but after scouring the market, she realized there was no natural-based detergent
that could easily get rid of odors and residue. Her solution? Create one.
Rubinstein and business partner Tamar Rosenthal spent nearly two years
working with chemists and pediatricians to develop the perfect product. With the
grant money, they are implementing a cost-effective marketing and sales program
to engage the parents of young children. "Our priorities are to get our products
on shelves and to promote our brand," Rubinstein says, citing plans to build
nationwide awareness by promoting Dapple at points of sale, and leveraging the
power of the internet to initiate word-of-mouth campaigns and increase online
presence.
Karla Duncan, 37
Head 2 Toe Publications, Inc.: Birmingham, Ala.
While working at Kaplan Early Learning Company, Karla Duncan got tired of
waiting for the arrival of a product that addressed the complete needs of
children with learning disabilities. So she did something about it.
As owner and president of Head 2 Toe Publications, Duncan's strategy is to
meet the growing demand for therapy products focused on the "whole" child,
encompassing communicative, cognitive, physical, educational and emotional
development in children ages 0-13. Although the company is still in its
beginning stages, Duncan has used Seeds for Success funding to manufacture toy
and book products available for purchase online.
With Duncan’s professional background as a speech-language pathologist, Head
2 Toe can offer parents of the pre-kindergarten group more transparency when it
comes to the whys and hows of therapy products. Materials for school-age
children will start at the appropriate development level and become increasingly
more advanced to meet specified educational goals.
At this point, generating revenue is Duncan's first priority.
"Selling products at tradeshows will give us the greatest opportunity to do
so," she says, adding that exhibiting also leads to a broader customer base and
a network for planning future marketing campaigns.
Abby Port, 33
Red Koala Canvas Co.: Woodstock, Ga.
Art is great for kids, and no one believes that more than Abby Port,
president and CEO of the Red Koala Canvas Co. The idea behind Red Koala is
simple: quality, customizable art for nurseries and children's spaces--and,
eventually, other rooms as well. "The business will fill the niche market of
people looking to create their own canvas art to perfectly match their décor,"
Port says. She also points out that the opportunity for partnerships is very
good, since furniture and design companies could use this service to help
customers match their exclusive product colors.
Red Koala customers can go online to order art by selecting the desired
canvas size, inserting an artist's hand-painted image from the gallery, choosing
a background color and adding text. There's even an option to send in children's
artwork.
Port, who has a marketing background with brands such as Coca-Cola and CBS
Sports, has used Seeds for Success funding to advertise products in publications
and at trade shows. "Because this is a unique offering, we need to really push
the rollout and establish ourselves as first-to-market," she says.