The Old Girls' Network

The Old Girls' Network By Sharon Whiteley, Kathy Elliott, and Connie Duckworth The Old Girls' Network should be firmly strapped to the tool belt of women of all ages who are dreaming about becoming an entrepreneur. And, it should especially become required reading for women pursuing degrees in Entrepreneurship. This book is well organized and easy to read & comprehend. It's not designed to wow you with academic prose and technical analysis. Rather, the authors chose to provide basic, but sound advice to women contemplating a new venture. Each chapter is filled with vignettes from female entrepreneurs who have come before us and who happily share their stories so that the reader will experience the realities (the good, the bad and the truly ugly) of running a business. The chapters conclude by providing summarizing bullet points that outline the chapter highlights. In fact, this writer identified a business opportunity albeit a small one for these authors. The summarizing points, from the end of each chapter, would make an excellent executive summary marketed on a brochure or pamphlet platform. And, lastly, the book concludes with a tool kit including exercises, worksheets, and sample templates that directly relate to the learnings of each individual chapter. The book was written to encourage women to pursue their dreams by inspiring women to ignite their untapped entrepreneurial spirit. Having been around the block a number of times, the authors seek not only to provide role models for women entrepreneurs but to provide a counter attack to the Old Boys' Network. It's a unique opportunity to give something back by educating and supporting aspiring women entrepreneurs. The book brings the reader through a business' life cycle including crafting an idea, identifying its feasibility, understanding sources of funding, identifying the need and timing for additional funding, the necessity of networking, leadership, the need to manage growth and the need to plan and document an exit strategy. Their approach to a business life cycle is innovative and fresh. The authors guide us along the business life cycle by characterizing six essential elements that women need to possess. Each step of the business life cycle is attributed to one of the following Psychic Capital characteristics: * Passion: the undying entrepreneurial spirit that aspiring entrepreneurs possess. * Vision: the ability to effectively articulate the passion. The art of establishing legitimacy. * Pioneering Spirit: driven by passion and vision is the ability to break new ground. * Tenacity: it's the motivation to continue when your tank is empty. * Focus: provides the impetus to move from vision to execution. * Leadership: the ability to create an environment that inspires and motivates. Passion is the nucleus of the business. Without passion, an idea remains an unfertilized egg. Passion does not necessarily mean that your idea is feasible. The authors urge entrepreneurs to "distinguish between an actionable dream and a fleeting fantasy". Passion breeds stamina. However, you must remain true to yourself because your business will reflect who you are. Find mentors who can willingly and honestly assist you in determining whether or not you have that "actionable dream". Vision can best be described as the execution of your passion. Vision is the ability to see an idea, develop it and effectively communicate it to others. The authors challenge women to answer three basic questions: * Is it a real business opportunity? The point the authors are making is that a business must be sustainable. Sustainable business can be boiled down to a few basics points; is there a market for your product? Can you attract and retain customers? And most importantly, Will someone pay you for it? If the answers to these questions are a resounding NO!, then you have a hobby or a fleeting fantasy. …