ROGERS — Small business owners, women business owners, and aspiring small business owners gathered Friday to network and gain insight from industry experts.
SCORE Northwest Arkansas, in partnership with the U.S. Small Business Administration, held an EmpowHER Business Workshop at Simmons Bank in Rogers on Friday to celebrate Women's History Month.
Two different panels were conducted during the event. The first was about the resources available to women in business. The second focused on the importance of being both a client and a mentor.
Score's David Bernstein said each of the panel leaders was an expert.
The first panelists were Kimberly Randle from Apex Accelerators, Erica Preston from Simmons Bank, Mary Beth Brooks from the Arkansas Small Business and Technology Development Center, Chauncey Pettis from the Arkansas Women's Business Center, and Debra Williams from Communities Unlimited.
The second panelists were Trisha Lemery, Kayla Norris, Katherine Lopez, and Sally Shawn. Lemery and her girlfriend Schoen shared the score mentor perspective during the discussion. Lopez and Norris spoke about their experiences as clients and how to get the most out of their relationships.
resource
Williams said there are several free services available to small business owners, but some may not be aware of them.
Williams is regional lending director for Communities Unlimited, which helps small business owners obtain financing based on contracts and business agreements they have with their customers, said Williams. Williams said Communities Unlimited offers contract financing for small business owners. This loan provides the business owner with the capital needed to provide the products or services specified in the business agreement or contract. The owner can pay the loan and interest in installments.
“If you're interested in something, give someone a call,” Williams said. She says if you have an idea but don't know where to start, call someone. She said she would be able to help or refer you to someone who could.
Randle, who helps Arkansas business owners receive government contracts, said the government is always awarding contracts, and the government's goal is to make 5% of contracts go to small businesses owned by women. He stated that this is the goal.
Resource panelists all agreed that knowing a company's audience is important and agreed that entrepreneurs can find information about their market in multiple ways.
Brooks said IBISWorld.com is a good place to get industry reports. According to his website, IBISWorld assists organizations by creating analysis that reflects current economic, demographic, and market data.
Adrian Brown, area director of the Small Business Administration, said the administration always provides free assistance. In addition to personal support, the administration's website has online learning tools with free courses that business owners can take at their own pace.
mentor and client
Score's Bernstein said that while the mentor-client relationship is dynamic, it can be mistaken for one-way communication from mentor to client.
A balanced mentor-client relationship is the goal, Shane said. She added that it looks like a mentor who listens to the client and gives advice, but she is there for the client. Shane said the qualities to avoid in a mentor are people who only talk about themselves, monopolize the conversation, and share stories that don't apply to conversations with clients.
Shane said good clients understand their needs and drive the agenda of client meetings. She also said she needs a good mentor to tell her clients what questions to ask because “you don't know what you don't know.”
Lopez said mentors can be great, but they may not be the right fit for a particular client. She said clients have to learn that they have different mentors at different times in their lives, and that mentors may not be with clients forever.
Both panels said that having interests and a life outside of work is very important. Some panelists said they like pickleball and spending time in nature. Business owners needed to have other people in their community to talk to about what they were experiencing on a daily basis, some said it was uplifting.
Attendees heard from speakers Friday during a panel discussion held as part of the EmpowHER Business Workshop at Simmons Bank in Rogers. Score Northwest Arkansas and the Small Business Administration hosted the event, where guest speakers provided guidance to small business owners and shared useful information on financial management, federal contracting, and more. For today's photo gallery, visit nwaonline.com/photos. (NWA Democrat Gazette/Charlie Kaijo)
Katherine Lopez will speak Friday during a panel discussion as part of the EmpowHER Business Workshop at Simmons Bank in Rogers. Score Northwest Arkansas and the Small Business Administration hosted the event, where guest speakers provided guidance to small business owners and shared useful information on financial management, federal contracting, and more. For today's photo gallery, visit nwaonline.com/photos. (NWA Democrat Gazette/Charlie Kaijo)
Participants react to speakers during a panel discussion as part of the EmpowHER Business Workshop held Friday at Simmons Bank in Rogers. Score Northwest Arkansas and the Small Business Administration hosted the event, where guest speakers provided guidance to small business owners and shared useful information on financial management, federal contracting, and more. For today's photo gallery, visit nwaonline.com/photos. (NWA Democrat Gazette/Charlie Kaijo)
Trisha Lemery will speak Friday during a panel discussion as part of the EmpowHER Business Workshop at Simmons Bank in Rogers. Score Northwest Arkansas and the Small Business Administration hosted the event, where guest speakers provided guidance to small business owners and shared useful information on financial management, federal contracting, and more. For today's photo gallery, visit nwaonline.com/photos. (NWA Democrat Gazette/Charlie Kaijo)
Debra Williams spoke Friday at the Empower Business Expo in Rogers during a panel discussion about resources available to small business owners, including market research, financial management and assistance with federal contracts. Also pictured are David Bernstein (from left), Kimberly Randle, Erica Preston, Mary Beth Brooks and Chauncey Pettis. (NWA Democrat Gazette/Campbell Roper)