More Than WE Know

If you missed this week’s Carnival of Small Business Issues, right here on MoreThanWEKnow - check it out. With more than 40 articles in one place - there’s something for everyone.

I also found some exceptionally interesting reads this week:

Pam Slim at EscapeFromCubicleNation writes about the Networking techniques she learned from a new boy on her children’s playground.

Christine O’Kelly at SelfMadeChick writes the unvarnished truth about her experience becoming an entrepreneur.

And Barbara Stanny is asked Ten Money Questions by Nina Smith at BlogHer. If you missed it, be sure to read my article Are You Earning All That You Could? for more about Barbara Stanny’s new book Overcoming Underearning(R): A Five-Step Plan to a Richer Life

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Wuvit?? Green Daisy?? Pretty, young, blond, smiling mom??

I have to tell you:

When I first picked up this book Mommy Millionaire: How I Turned My Kitchen Table Idea into a Million Dollars and How You Can, Too! with its flowery pink and green cover, I assumed that it was going to be one of those sugar-coated success stories telling how with a little cock-eyed optimism and bit of a spunk, you too could become an overnight business success, while also raising adorable home-schooled children, building a perfect marriage, cooking gourmet meals and keeping immaculately waxed floors…

…and I almost put it back on the shelf.

But they always say not to judge a book by its cover - and this is no exception.

Instead of a saccharine sweet story about a too-perfect princess, I found a true, edge-of-my-seat, gripping page-turner of a book about a down-to-earth woman, with a great idea, a lot of passion and little business knowledge, struggling to keep her family one step ahead of the bill collector.

Kim Lavine takes her readers every step of the way from her initial sales out of the back of her truck to her first trade show, her quest for exposure on QVC and her roller-coaster ride with venture capitalists. Along the way she learns the ins and outs of product manufacturing, shipping, wholesale and retail merchandising. She encounters many great mentors and almost as many hustlers and opportunists.

Over the three year period that she builds her business from the kitchen table to a multi-million dollar enterprise she also deals with a special-needs son, a terminally ill mother-in-law, and an out-of-work husband, all the while teetering perilously close to bankruptcy and financial ruin.

Kim is unafraid to tell you her doubts and fears. She reveals the dark moments when she considered giving up and declaring bankruptcy. She shares the frustration she and her husband felt as they slowly learned to work together and gradually grew to appreciate the strengths the other brought to the business.

Kim admits the regrettable times early on when she made parenting decisions that favored her business over her children. She shares the vow she eventually made to never again apologize for being a mother in business.

By the end of the book, you are cheering for this hard-working woman and wishing she could be your best friend.

Not only is this book a fascinating read of the inside story of the start-up of a multi-million dollar enterprise, it is also a great reference book. Kim provides pages of practical tips concerning how to deal with lawyers, manufacturers, bankers and investors. She provides forms, websites, and glossaries of business and financial terms.

She shares all of the mistakes she made, money she lost and decisions she regrets, so that you won’t have to - or so that you won’t feel so alone or foolish when you do!

And in case you’re wondering: Kim’s business is called Green Daisy and her multi-million dollar product is a wuvit - a fabric-covered grain-filled spa pack that when heated in the microwave gives off hours of moist heat, or when frozen becomes a no-drip ice pack. Kim even makes a wuvit for children - Sleepy-head Fred and has expanded into totebags and pajamas.

Kim Levine, Mommy Millionaire - Her products are great, and her story is definitely not to be missed!

(p.s.- in case you’re wondering - nope, I’m not affiliated with Green Daisy in any way - just converted from a skeptic into a fan!)

 As part of the Holiday season, I will be profiling Women Entrepreneurs who sell gifts online.  It will give you a chance to learn from their experiences, and give them an opportunity to share their great businesses and products with you.

Our first Woman Entrepreneur is Karine Etieve(pictured above with her children Eden and Oriane). Karine’s business is Eden Naturoils, named after and inspired by her son.

Karine’s business manufactures and sells all natural pure Galilee olive oil skin care. Her best selling holiday products are her soaps and creams.  

Here is Karine’s story:

 My son, Eden, was born with hard to treat eczema. Despite various medicated and non medicated treatments, his condition remained the same and resulted in burn like areas all of over his body. These areas got easily infected and caused bleeding, rashes, blemishes, and itchy spots.

On an occasional trip to Israel, I found an all natural olive oil soap that carried the promise to ease eczemas symptoms. I was desperate at this point and decided to try it. To my amazement, the soap did work and my baby’s eczema was finally under control. With the continuous use of the soap, I could actually see improvement and today, my boy only suffers from occasional slight itching and eczema breakouts.

Based on my experience I decided to start Eden Naturoils and share my experience and products with the rest of the moms out there.

Our products are hand made from pure virgin olive oil extracted from some of the oldest olive trees in the world located in Galilee, Israel. The olive oil we use has been extracted in this fashion for centuries and was used in Biblical and Roman times in religious and royal ceremonies for more than 2000 years.

We use only a cold pressed high quality olive oil in our products to retain the highest concentration of nutrients and vitamins resulting in a product that is 100% natural, free of chemicals, environmentally safe and not tested on animals.

When you buy our products you do not only buy a pure, hand made all natural product that is healthy for your body and that nurtures your skin, but you also buy a gateway to experience the past as our ancestors and inspirational figures experienced it over 2000 years ago.

Like so many Women Entrepreneurs, your inspiration to start a business was a personal passion around your family. What helps you stay motivated?

I want to tell the world about my products and how natural products can better help treat their conditions.

Very few Women Entrepreneurs have external investors for their business. How did you fund yours?

My husband and I put our savings into the business

Who is your target market?

Health conscious clients and clients who are not interested in using chemically based products or products who were tested on animals.

What percentage of your business is online?

100%

Where do you get most of your customers?


Word of mouth is the best way. I am also recruiting beauty consultants (work at home moms) who carry my items and sell them very successfully.

What is the biggest challenge you faced and how did you overcome it?

Getting people to experience my products. Until you hold my products, smell and feel them you do not realize how good they are. I decided to work with work at home moms to become my consultants and work with me in their communities. Together we are building great relations and customers love it.

What was the best unexpected thing that happened to you?

To make my first sale. I thought it would take longer but it happened very fast.

What do you wish you had known when you started?

More contacts at wholesale and retail stores! (smile)

What is the biggest challenge of being a work-at-home mom?

My kids go to day care so I am free to run the business but I do try to focus on them when I take them back home from day care.

How have your kids helped you be a better entrepreneur?

My kids are the inspiration for my business. Without them I would not have had a business.

How has being an entrepreneur helped you be a better mom?

I now see things differently. I want them to be exposed more to natural products than to processed ones. I feel that I can give them more time and love.

What advice do you have for other Women Entrepreneurs, or Entrepreneur-wannabe’s?

Just do it. If you continue to think about what will happen, where do I get the money, how packaging is done, what are the best marketing strategies, you will never make it. Take baby steps.

To purchase Karine’s products, visit Eden Naturoils.

If you are interested in becoming a sales rep for her products, contact Karine.

If you have a business that sells gifts online and would like to be profiled on More Than WE Know this holiday season, please contact me at Liz (at) morethanweknow (dot) com.

Tomorrow starts our Holiday review of Woman Entrepreneurs who sell gifts online. 

My goal is to profile 18 businesses this holiday season between November 23rd and December 24th.

If selected, I’ll include a description of your business and a link to your site.

Additionally, I’d like to write about you as a Woman Entrepreneur - what motivated you to start your business? what  challenges have you faced? what lessons have you learned?

To be profiled, please contact me in the comments below, or email me directly:

liz (at) morethanweknow [dot] com.

One of the key challenges of running a small business is cash flow. The opportunities abound but you don’t always have enough cash to take advantage of them:

• You have orders piling up, but not enough cash to buy raw materials
• You could be more productive if you had better equipment, but can’t afford the investment
• You could get more done if you hired an assistant, but you don’t have enough money short-term to make the payroll.

These are the challenges faced by the Women Entrepreneurs I work with. These are also the challenges faced by the entrepreneurs who come to the Kiva organization.

Kiva is a non-profit organization that connects entrepreneurs in economically depressed areas with people like you and me.

Kiva partners with local micro-finance institutions to identify entrepreneurs who would benefit from a short-term micro loan (usually $150 -$1200 USD paid back in 6 to 12 months).

These loans help the entrepreneurs grow their businesses and obtain sustainable success.

While Kiva works with both male and female entrepreneurs, microfinance investments have traditionally helped Women Entrepreneurs. Many organizations find that women are very responsible about repaying the loans and invest the profits in ensuring a better life for themselves and their children.

According to Kiva:

“Microfinance programs have generally targeted poor women. By providing access to financial services only through women—making women responsible for loans, ensuring repayment through women, maintaining savings accounts for women, providing insurance coverage through women—microfinance programs send a strong message to households as well as to communities.

Many qualitative and quantitative studies have documented how access to financial services has improved the status of women within the family and the community. Women have become more assertive and confident. In regions where women’s mobility is strictly regulated, women have become more visible and are better able to negotiate the public sphere. Women own assets, including land and housing, and play a stronger role in decision making.

In some programs that have been active over many years, there are even reports of declining levels of violence against women.” (CGAP)

The women themselves report increased confidence and levels of self-esteem as they develop control over their own lives.

Kiva accepts loans of $25 USD. You select the entrepreneur you want to help, track their repayment process and get reports on their business progress. When the loan is repaid, Kiva returns your funds or enables you to re-loan the money to another entrepreneur.

Women Entrepreneurs have the ability to change the world, More Than WE Know.