A couple of years ago, we introduced GROW’s Business Directory; a list of local small businesses and entrepreneurs. Here in West Michigan, we are part of a vibrant entrepreneurial community where local businesses are constantly popping up, growing, and becoming shopper favorites. Our goal with our Business Directory is to continue to expand offerings to our participants and other local business owners to collectively market themselves to generate business growth and economic impact.

Usually, adding a listing to our Business Directory comes at a cost: $25 for GROW clients and $50 for businesses that have not been GROW clients, but we’re excited to offer a great promotion to get your business listed for FREE! Now through December 31, 2019, add your business to our Business Directory for one year at no cost.

To be eligible for the directory, your business must:

• Be registered, meaning you have filed your business name with the proper entities. Visit sba.gov for details.
• Have a tax ID number.
• Be in operation at least 6 months.
• Have an active website.

Our Business Directory is a great way to get to know other entrepreneurs in the area, to promote your business and services, and to connect with the community. We invite you to add your business to our directory for FREE today!

The post GROW’s Business Directory Promo appeared first on Grow.

We are thrilled to work with Michigan Woman Forward who has put an incredible event together for women with a passion for starting or running their own business. You’ll take part in a day of inspiring presentations, networking, camaraderie, great food and more. All of which is designed to help you to plan, launch and grow professionally and personally.

Keynote Speaker

This year’s Woman Up & Learn keynote speaker is Candice Simons, President + CEO of Brooklyn Outdoor!

Get all of the details including the speaker line up and more on the event page here or if you’re ready, go ahead and register today.

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The post Woman Up & Learn Summit is March 1 in Grand Rapids appeared first on Grow.

January 2019

Karen Benson spoke with Shelley Irwin of WGVU Radio for our January segment of Entrepreneurial Insider. She shares more about the classes, training and support available to entrepreneurs in Muskegon, including our Intro to GROW classes that are available at both the Muskegon Innovation Hub and in Muskegon Heights.

Listen now for the details. And, if you’re interested in attending any of our classes – visit our events calendar to sign up today! Click below to listen now!

The post Entrepreneurial Insider with Karen Benson on WGVU Radio appeared first on Grow.

Grand Rapids Opportunities for Women (GROW) announces two new staff members to their growing team. Annie Trupke joins as Administrative Assistant, and Jill May joins as the new Director of Lending Programs. The addition of these two professionals will support GROW in their mission to serve women and men entrepreneurs throughout West Michigan, including the recent expansion to the lakeshore.

“Our organization is now fully staffed, which will allow us to better serve our clients and cover more of West Michigan with our lending programs and strong technical assistance to support our clients post loan,” said Bonnie Nawara, CEO of GROW.

As Director of Lending Programs, Jill May will assist clients with all aspects of loan application preparation and submission. She will also oversee GROW’s loan portfolio, loan products and monitor both internal and external loan environments to deliver the best loan products and assistance to GROW clients. May is a Grand Rapids native and brings 20 years’ experience in the nonprofit sector having worked at the Frey Foundation, The Right Place, UICA, and most recently as the Interim Executive Director of the Traverse City Area Chamber of Commerce.

Nawara adds, “Jill is a lifelong nonprofit professional, dedicated to helping make the community a better place to live, work, and play. We are thrilled to have her on board and overseeing our loan programs.”

As Administrative Assistant, Annie Trupke will be the first point of contact for all GROW constituents. She brings a strong administrative and customer care experience to the role at GROW.

“Our organization needed someone that is strong in admin capabilities, but is also able to work with and serve our growing organization and our clients. We are happy to have Annie on our team,” said Nawara.

About GROW: Grand Rapids Opportunities for Women (GROW) is an organization focused on women and men at various stages of business ownership. They are the entrepreneurial resource throughout West Michigan to help entrepreneurs take the next step, empowering and supporting them with professional expertise for a lifetime. More than half of those GROW serves are low to moderate income individuals who want to start or build their business.

GROW offers professional, high-quality training and business counseling in all facets of business, including finance, management, marketing, strategic planning, human resources, and more. GROW is one of only 110 certified Women’s Business Centers in the nation, and one of three in Michigan, all in partnership with the U.S. Small Business Administration. Learn more about GROW here.

The post GROW Adds Two New Staff Members to Serve Increasing Client Base appeared first on Grow.

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We are thrilled to announce the addition of Karen Benson as the Business Development Officer in the Lakeshore Area. Her addition is partly funded through grants and donations from The Grand Haven Area Community Foundation, The Community Foundation for Muskegon County and Bonnie Miller.

“We are grateful to have someone as talented and as experienced as Karen Benson join our team. We can’t wait to see the impact she will bring to this position and to the entrepreneurs and small business owners in the Lakeshore Area,” shared Bonnie Nawara, CEO of GROW.GROW has been staffing the area part-time and teaching several classes through the Innovation Hub in Muskegon. [/column]
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The addition of Benson will support the expansion of GROW’s services to lakeshore entrepreneurs. Benson’s role will be to help develop and grow Lakeshore Businesses.  She will deliver and coordinate entrepreneurial training programs, business counseling and mentoring, and work with clients in gaining access to capital for startup or growth.

Benson added, “I’m excited to be a part of GROW and know that this effort will allow us (GROW) to expand our presence along the West Michigan Lakeshore, which has already seen a lot of entrepreneurial activity. I’m excited to help provide greater access to resources and services to entrepreneurs within GROW’s service area, especially along the Lakeshore where I have spent a lot of time throughout my career.”

Benson received her Master of Business Administration (MBA) degree from Cornerstone University and has a background in economic and business development. She brings a wealth of experience to this new role, some of which includes: Executive Director of the Northwest Economic and Industrial Development Corporation, Economic Development Director with ACI/The Chamber in Grand Haven, Vice President of Business Development at Grand Haven Bank, Business Development Manager at Muskegon Area First, Director of Innovation Services with The Right Place in Grand Rapids, and most recently Director of Educational Partnerships with Olivet Nazarene University’s Graduate Studies here in Michigan.

About GROW: Grand Rapids Opportunities for Women (GROW) is an organization focused on women and men at various stages of business ownership. They are the entrepreneurial resource throughout West Michigan to help entrepreneurs take the next step, empowering and supporting them with professional expertise for a lifetime. More than half of those GROW serves are low to moderate income individuals who want to start or build their business.

GROW offers professional, high-quality training and business counseling in all facets of business, including finance, management, marketing, strategic planning, human resources, and more. GROW is one of only 110 certified Women’s Business Centers in the nation, and one of three in Michigan, all in partnership with the U.S. Small Business Administration. Learn more about us here.

The post Announcing Our New Lakeshore Area Business Development Officer appeared first on Grow.

As you develop and launch your small business, it’s easy to think about the fun stuff – like product development, communication, sales, and marketing, but what about your finances? Not something to ignore, proper financial maintenance and oversight can truly make or break your business.

Here are a few tips to help you start with a solid foundation ensuring your business has strong financials and stable business plan to boot.

Keep your business and personal accounts separate. 

This is the most effective way to make sure you are in the good graces of the IRS (Internal Revenue Service). Even if you’re the only employee, taking measures to separate your personal and professional finances, like opening a business bank account, applying for a credit card, etc. will help protect your personal assets. Also, make sure that all documents related to your business include your company name and are signed on behalf of the organization, not you personally.

If you haven’t already, make sure you’ve already registered your business.

Accurate bookkeeping is a must.

Bookkeeping is a big part of managing your resources accurately. Keeping good records of operations will help you keep track of cash flow and profitability. This helps you forecast correctly and prepare for the future of your business.

Bookkeeping is a big topic. On a basic level, it involves tracking the following (this is not a complete list).

• Revenues and expenditures
• A balance sheet, or snapshot of your business’s financial standing at a given moment
• Employees and payroll
• Cash flow
• Accounts receivable and payable
• Maintaining all records of inventory

Cloud-based bookkeeping software is your best bet.

Managing all the items listed above can be overwhelming! Luckily, there are many helpful accounting software options that will automate many aspects of day to day financial management. These applications are also cloud-based, meaning your accounting documents are always accessible, no matter where you are, or what computer you are working from.

Check out the following software options below to see if one is right for you. You can also attend our QuickBooks classes – visit our event calendar to see when our next class is.

QuickBooks Online

Freshbooks

Xero

Don’t procrastinate financial upkeep.

Set aside 30-60 minutes every week to keep up with your accounting responsibilities. Like many things, if the time isn’t scheduled in advance, it may not happen at all, creating a massive headache down the road.

There certainly comes a point when managing the financial integrity of your business becomes too much. In that case, it may be in your best interest to hire an accountant to take over bookkeeping completely. Regardless, it’s a good idea to hire a professional accountant to review your books at least once a year. They can also help with tax filing and provide insight when you’re making any major financial decisions.

GROW can help too!

Part of our role in the West Michigan community is providing entrepreneurs just like you with the financial tools to build a successful business. We offer a three-part Small Business Growth and Planning Series designed to provide you with the information and resources you need to formulate or refine your business plan and position your business for long-term success.

As part of this series, there are multiple thematic clusters, one of which is titled, “Financial Awareness Cluster” and focuses on:

• Financial strategies for your personal and business finances
• Financial reporting and analysis
• Navigating business banking

If you’re interested in this series, or any other class we offer at GROW, please review our events calendar and get registered today.

Sources:

https://smallbiztrends.com/2016/01/small-business-finance-basics.html 

https://www.p2bi.com/p2binvestor-blog/ten-financial-management-tips-for-business-owners/

The post Understanding the Financial Side of Your Business appeared first on Grow.

Many small businesses and budding entrepreneurs know it’s all in the pitch! Whether at a networking meet up, business meeting, casual coffee, or a more formal pitch competition like local 5×5 nights and beyond, opportunities to sell your business idea are just around the corner and can happen when you least expect it. That’s why it’s important to be able to distill your idea into a short, persuasive summary, motivating investors to get on board or potential customers to convert.

Here are 5 ways to perfect your pitch and nail it!

1. Avoid Superfluous Words (Don’t beat around the bush either.)

Focus on the core message you want to give. Use that message as the centerpiece of your pitch and make sure it’s verbalized within the first 30 seconds. Don’t be overly “salesy” by dancing around the point of the speech, that will only annoy and disinterest people. Be short and to the point, not overly verbose, use phrasings that you feel confident saying and are sure other people would understand.

2. Practice! (And then practice again.)

Understand that you have to practice (a lot) to become comfortable and familiar with the material. If you aren’t well rehearsed, that will shine though during your first networking event. Prepare and practice in front of anyone, your family, your dog, at a toastmasters group, your partners, with us, and anyone who’ll listen, until it’s as easy as telling your favorite story to a friend.

 3. Don’t Be a Broken Record

 Before you attend a conference or create a pitch for a competition, do your best to understand the composition of your audience. Try to identify what drives that particular crowd so you can adapt your pitch accordingly. It shouldn’t be exactly the same pitch for a potential investor vs a potential customer. Yes, this becomes more natural with practice. Once you get the key points of your pitch down, you can more readily change it up on the fly as needed.

 4. Make an Emotional Connection

Formal presentations are just that – formal. Think engaging PowerPoint presentations and pitch decks, data and details. Quick pitches are different. You have about 5 minutes or less to make an impression, and that often requires invoking an emotional response from your audience. High level statements and buzz words are in one ear and out the other, but a strong story that connects your listeners to the idea, that’s going to stick around.

5. Be Confident in Yourself as a Business Professional

Believe in yourself as a business professional. You’re selling yourself as a trustworthy, experienced entrepreneur just as much as you’re selling your product or service. You may have an amazing idea, but if you come across as awkward or uncommitted, people aren’t going to pay attention. Play the part and trust that you are worth listening to, that internal confidence will shine outward.

It’s all about getting people to understand your business and your potential, and gently pushing them to connect with your story so much that they want to support it financially. Understanding your story, your business idea, and how you’ll make money to grow the business and pay back investors should all be conveyed quickly and effectively. Take time to create this pitch, and practice to perfect it as much as possible.

Interested in putting your pitch up to the test? Check out 5×5 Night through Start Garden, Michigan Women’s Foundation Dolphin Tank Plan and Pitch Competition or InnovateHER with the Small Business Administration. Contests like these give you a platform to pitch your business or startup idea in front of a panel, and the opportunity to win prize money.

At GROW, we offer a variety of workshops and training options for entrepreneurs and businesses of all sizes. Start by joining our Intro to GROW free class that introduces you to the many programs and services we offer (including business pitch development and practice). We hold this class the first and third Thursdays of every month with a session from 12-1pm and 6-7pm.

Contact us to learn more and sign up today!

The post 5 Tips to Perfect Your Business Pitch appeared first on Grow.

We’re thrilled to share that GROW is now a Michigan Good Food Fund lending partner! As a part of this partnership, we’re helping Michigan Good Food Fund deepen their work on the west side of the state and expand their loan range to provide smaller dollar investments for good food startups. Learn more about financing options here.

And, if you’d like to learn more, feel free to contact us today.

The post GROW is Now Lending Partner of Michigan Good Food Fund appeared first on Grow.

The Grand Haven Area Community Foundation recently awarded Grand Rapids Opportunities for Women (GROW) a grant of 10,000 dollars for our expansion into the lakeshore area. These funds, which are from the Helene D. and Bernath P. Sherwood, Jr. Fund of the Grand Haven Area Community Foundation, will be used to add one full-time staff member dedicated to the lakeshore.

Bonnie Nawara, CEO of GROW shared, “We are thankful and excited to be able to expand our service area to small businesses in the lakeshore area. We serve a nine-county area with a limited staff, and this grant will allow us to have a dedicated person available on the lakeshore on a regular basis.”

With the help from this grant, GROW will be able to offer more entrepreneurial training programs, business counseling and mentoring to lakeshore residents, as well as business growth, planning and financial classes. Some of these programs are already being taught on the lakeshore in the Innovation Hub at Grand Valley State University in Muskegon

GROW representatives will continue to serve entrepreneurs in Muskegon and Grand Haven prior to the addition of the full-time staff through regularly scheduled office hours and training classes. Class and workshop schedules can be found online at www.growbusiness.org

About GROW

Don’t let the name fool you, we are an organization focused on women and men at various stages of business ownership. We are the entrepreneurial resource throughout West Michigan to help them take the next step, empowering and supporting them with professional expertise for a lifetime.  More than half of those GROW serves are low to moderate income individuals who want to start or build their business.

GROW offers professional, high-quality training and business counseling in all facets of business, including finance, management, marketing, strategic planning, human resources, and more. GROW is one of only 110 certified Women’s Business Centers in the nation, and one of three in Michigan, all in partnership with the U.S. Small Business Administration.

About Grand Haven Area Community Foundation

The Grand Haven Area Community Foundation is a public, charitable organization serving Northwest Ottawa County community since 1971. GHACF is regularly recognized as a top 100 Community Foundation in the nation and is the 7th largest community foundation in the State of Michigan. It encourages philanthropy by individuals, families, corporations, and organizations, and serves as a steward of their charitable funds and legacies. In addition to awarding grants, the Foundation offers technical support to nonprofits, convenes community leaders on issues of importance, and advocates for the nonprofit sector. For more information visit ghacf.org.

The post Additional Local Grant Makes Lakeshore Expansion Possible appeared first on Grow.

GROW recently had the exciting and unique opportunity to host women entrepreneurs from India as a part of the project: Indian Women Entrepreneurs as Drivers of Economic Growth.

The project worked with the Global Ties U.S. Network, which implements the Department of State’s International Visitor Leadership Program. This program facilitates the international professional exchange of emerging and established leaders in West Michigan and hosted 185 visitors from 46 countries in West Michigan last year alone.

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During their time with us, the women attended an Intro to GROW class, learned about initiatives to promote workforce development for women, mentoring for women in business and had a question and answer session with our staff.
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We were honored to host, as well as learn from this group of admirable women. We wish them success in their work to advance the social and economic status of women in India.

The post GROW Hosts Women Entrepreneurs from India as Drivers of Economic Growth appeared first on Grow.