1. Built to Last: Building a Madison Business with Staying Power.

2. Ruth Rohlich
Business Development Specialist
City of Madison
Former:
Small Business Owner (florist)
Biotech Employee
Project Director at WWBIC
SBA Women in Business Champion

3. Micro-Businesses* = Huge Impact
USA WI
Total number of businesses
28.5 million
450,893
Number of micro- businesses
25.1 million
382,077
Percentage of all businesses that are micro-businesses
88%
85%
A micro-business employees 10 or fewer people.

4. “If just one in three micro-businesses hired one additional employee the U.S. would be at full employment.”
- Association for Enterprise Opportunity

5. Your favorite business…
Name
How do you purchase their products?
What do you feel when buying from them?
Is it easy to find them?
Do you recommend them?
What can you learn from them?

6. 5 tips on building a long lasting business in Madison
1. Invest in yourself
2. Deeply understand your product and your customer
3. Know your financials
4. Adapt to change
5. Find support

7. 1. Invest in yourself
Social Impact: Creating a good job for yourself and others is one of the most meaningful ways you can contribute to your community
Keep learning and growing
Get good at the hard stuff
Social Impact of Independent Businesses
Each dollar you spend at independent businesses returns 3 times more money to your local economy
Independent businesses help give your community its distinct personality.
The multiplier effect created by spending locally generates lasting impact on the prosperity of local organizations and residents.
Research shows a strong correlation between the percentage of small locally-owned firms and various indicators of personal and community health and vitality. 
Dane Buy Local

8. 2. Deeply understand your product and your customer
Madison’s population is growing
1995
191,000
2013
243,000
2014
281,000
The highest % of growth is
“Baby Boomers”
“Gen E” (EPIC Generation)
Children (African American & Hispanic)
Will your business be relevant to the changing demographics of our City?

9. 3. Know your financials Median Net Worth in the US All $85,000
Non-Business Owner Business Owner
All
$85,000
$211,000
African American
$10,000
$77,000
Hispanic/Latino
$9,000
$37,000
Women
$82,000
$180,000
Net worth is defined as the total value of all real and financial assets
Association for Enterprise Opportunity

10. 4. Adapt to change
Businesses & Business Owners must continue to adapt to new market forces
Keep improving your product & services
Be aware of demographic changes
Expect that everything will change every few years
Learn how to adapt to adversity
Reach out before you need help

11. Fight the lonely - Find your people -Frighten yourself
5. Find support
Fight the lonely - Find your people -Frighten yourself
Business Support Organizations
Worker Cooperative Models
Business Accountability Groups
Co-Working Spaces

12. Three Quick Goals…. 1 2 3

13. What you will do matters. All you need is to do it.
Madison needs your creativity and entrepreneurship!
Keep enjoying yourself and keep improving!

14. Thank you for letting me join you today…..
Questions/Comments