Extra Source

"Overcoming the Gender Gap: Women Entrepreneurs As Economic Drivers"

Citation: Foundation, Ewing Marion Kauffman, and September 201. OVERCOMING THE GENDER GAP: WOMEN ENTREPRENEURS AS ECONOMIC DRIVERS(n.d.): n. pag. Web

Interview With Courtney Lucas

1. Did you get a college education? If yes, what was your major and what school? 

 I did get a college education. I went to Illinois State University. I majored in Apparel Merchandising and I minored in Business Administration.

2. What are some steps to take in becoming an entrepreneur? When did the idea begin?

 I had no plans to be an entrepreneur- in fact it was something that never appealed to me. Now I can't imagine doing anything else. My aunt called me in the spring of 2011 before I graduated and wanted me to move to Louisville KY and help her open her own boutique. Since I had nothing else going for me of course I agreed to do that. I moved there in June of 2011 and we opened our doors in Aug 2011. So I was there from the ground up and really got to know the business of boutique and the steps I needed to open a successful one. I learned so much from her. As you know my Grandfather is the mayor of Pontiac, and he approached my aunt in Oct of 2011 for her to open her second boutique in Pontiac for the tourist. I thought this was a cool idea but I didn't want to go back to Pontiac, especially this young, and I figured she would make me manage that one :) then after the holidays I was really starting to miss my friends and family. So I told her that I would move back and start the Pontiac store for her. Well as the spring approached she begin to back out of doing a second store. So my grandfather convinced me to move home and open my own boutique. After thinking long and hard about the risks I would be taking and the fact that I would be somewhat  "trapped" in Pontiac at this young of an age, I decided to take the plunge. I am so glad that I did, I love being here and knowing my customers. 

3. In the beginning, what motivated you to becoming an entrepreneur? 

I think my motivation was the fact that I got to use everything I used in school to do everything that my major could allow me to do. I don't just get to be a buyer I get to do it all!! I have such a passion for my job and love working for myself. It would be really hard to work for someone else at this point. I really feel like the saying " if you are doing something you love, you won't feel like you even worked a day in your life" or something like that is true in my case. I look forward to going to work everyday! I also had an awesome support system that I knew wouldn't lead me down a path of failure. 

4. How long did the process take to officially start your business? 

So when my aunt decided not to open another store in March of 2012, I moved home middle of April 2012 got the building my store was going to be in May 5th and opened June 7th 2012. So it was very FAST. The only reason I was able to do this so fast was because I had literally just opened a store less than a year prior, I knew my contacts, I already knew what kind of POS system I was going to choose and how it worked, and I had the greatest team of people helping me transform my space into a boutique. A lot of LONG days and nights for sure, but worth it!

5. What kind of obstacles did you have to overcome?

Obstacles that I had to over come was, having enough merchandise to open the store and making sure I was buying merchandise that Pontiac would want to buy. It is scary opening a boutique in a smaller town because I really needed to appeal to the market here. That was something that weighed heavy on my mind, are people going to like what I buy and are they going to pay boutique prices. Also trying to keep the cost low for opening a business. Being so young the money aspect scared me a lot!

6. What do you consider to be your greatest achievement as an entrepreneur?

 I think my greatest achievement has got to be that I paid off my expenses last Christmas and I 100% own my boutique ( other then the space I rent, but everything inside). So if it were to no longer make a profit and I would have to close I would not owe anything on it. The fact that I was 25 when I did that and that I did it in less the two years is a HUGE accomplishment that I am very proud of. It makes me feel like I am really doing what I should be doing and that this is my calling. 

7. Do you believe there is more pressure on woman to be a successful entrepreneur than males?

 I don't think there is necessarily more pressure for women to be more successful, I mean I feel like it is assumed it comes easier for men. So maybe the pressure is for women to show men that we both have the same struggles. Also it also depends on what kind of business he or she has. I can tell you a guy could probably not open a women's boutique as well as a women can that is just how it is in most cases. 

8. Would you agree with the statement stating "women entrepreneurs are just as or even more successful than males?"

 I would most definitely agree with this statement!

9. Do you have any examples of someone being sexist towards pursuing your entrepreneurship? If so, explain

Luckily I do not have any examples of this. .

10. Do you have any tips or advice to give to women wanting to become an entrepreneur? 

 My advice is - be passionate about whatever it is you plan to do, know your location-being in a small town has many advantages so don't rule that out, take the risk and be confident, be positive- I never think about the possibility of Charmed Boutique failing and surround yourself with a great support system. 

Interview with Courtney Lucas, owner of Charmed Boutique, coming soon! 

Best Quote

Kamila, a successful entrepreneur from Afghanistan, is the owner of three operating businesses. She is an expertise in her field with plenty experience in entrepreneurship. She has created many jobs for women and helped increase economic growth in her area. She has struggled with gender differences because she has the stereotype of being a stay at home mother. According to Kamila "Business was even more important for women because earning an income earned respect and money was power for women." Money IS power and being a female entrepreneur vs. a male entrepreneur causes sexist remarks. A female entrepreneur has to gain respect in the business world in order to succeed. 

Ted Talk Video

"Gayle Tzemach Lemmon: Women entrepreneurs, example not exception"

Citation: "Women Entrepreneurs, Example Not Exception." Gayle Tzemach Lemmon:. N.p., n.d. Web. 19 Nov. 2014.

Summary: This video discusses the importance of woman entrepreneurs. It gives woman power all across the globe to be as successful as men in entrepreneurship. One example Gayle talks about in the video is a women named Kamila who lives in Afghanistan and owns, not just one, but three businesses! She is so passionate because her three businesses employed women all across her neighborhood. Kamila's story is very inspiring. Through all the hard times,including the economic crisis, she still became successful with her road to entrepreneurship. She is a perfect example of why women entrepreneurs are just as or even more successful than men. Women are looked down upon and have the unfortunate stereotype of being a stay at home mom but this stereotype does not stand in her way. She pursues the business world and becomes very successful. She supports her children in every way, but by being an entrepreneur she is able to put food on the table. Not only does she support her children, but she also supports her area by creating jobs for citizens. Women entrepreneurs are very critical to our societies economic growth.

Citations / Summary

Entrepreneurship: Woman's Business

Citation: Oatsvall, Rebecca J., and M. Tony Bledsoe. "Entrepreneurship: Women's Business." International business and economics research journal 9.13 (2010): 47-55. Print.

Summary: The importance of this article is to explain the important roles woman play in successful businesses. One fact I found very interesting is that 50% of 10.4 million firms are operated by the female sex. These firms hold 12.8 million employees and has a high number of sales, 1.9 trillion. The amazing results of women success in entrepreneurship is inspiring. The numbers are the evidence to show women around the globe they can be a successful entrepreneur.

(Best Source)

Entrepreneurship Education

Citation: Briga Hynes, and Ita Richardson. "Entrepreneurship Education." Education + Training 49.8/9 (2007): 732-44. Print.

Summary: The highlight of this journal is to show the importance and education of a successful female entrepreneur. With the unemployment rate as low as it is entrepreneurship can help increase this rate because entrepreneurs create many jobs for people. The article explains that universities should offer entrepreneur courses to business students to keep our economic growth high. At Lewis University we are so lucky to be offered an entrepreneurship course. 

(Still debating whether to use this source or not)

Gender Differences In Entrepreneurship

Citation: Ayala Malach Pines, Miri Lerner, and Dafna Schwartz. "Gender Differences in Entrepreneurship." Equality, Diversity and Inclusion: An International Journal 29.2 (2010): 186-98. Print.

Summary: This journal is about the difference in gender entrepreneurship. One fact I found very interesting was in 2008, during the economic crisis, women were increasingly more affected by men. This is because it it harder on women to gain a steady capital. This journal also goes into detail and explains the difference in diversity, and importantly equality between the male and female. Many facts stated in this journal are going to be very valuable while explaining the different expectations of sexes in my paper. 

(Good Source)

Research Paper Topic

Life As An Entrepreneur

Questions:

1.) What is the environment like in entrepreneurship?

2.) When being an entrepreneur how do you get paid/ do you break even?

3.) What is the success/failure rates of people starting of as an entrepreneur?

4.) (Interview question): Is there anything you wish to have done different in the business? Any regrets? Anything you wish to change in the future?

5.) Is there reasoning behind why specific businesses succeed vs. failed?

6.) What is the average cost of starting your own business? Minimum? Maximum? 

7.) Is there strategies or steps to follow to be more successful? 

8.) While watching the TV show Shark Tank you witness many people being told to give on up on their dreams. Is there reasoning why they are so harsh on the entrepreneur? Is it just for the show or are they actually there to help?

9.) (Interview question): How long did it take to become financially stable again?

10.) Is there different ways of defining entrepreneurship?