Small Business Institute Scholarship for BOND Members Only

To all BOND Members participating in the SBI. Be sure to submit your application by April 15th. Click here to complete. Are you in financial need? Then consider completing the scholarship  form below so your name can be entered to the hat to receive a $200 scholarship to participate in the 8 part series.

*Scholarship applications are due by April 5

*Notifications will be sent by April 10

*Scholarship recipients are required to attend all sessions.  Missed sessions will result in loss of scholarship.

Small Business Institute Application Is Now Online

If you're interested in signing up for the Small Business Institute (SBI) the application is now online. Remember, 5 BOND Members will be selected to receive a scholarship to attend this 8-part series. Don't know what the Small Business Institute is about? You can find all about it-here

If you weren't able to attend the SBI Information Session on Thursday, March 26th please send your inquiries or questions to Rachel Barrett-Dolcine of Compass Consulting & Training Solutions who is spearheading the SBI.

Black Women and Business Ownership-A Dream Deferred: Rachel Dolcine Interview

I tell you our Gathering topics get better and better by the year. As you know our mission is to uplift, motivate and empower women of color to reach their highest potential. What better way to empower women than by providing her with the resources to start her own business. Sometimes all we need is just a leg up. We are excited to share with you the interview with Rachel Dolcine of Compass Consulting and Training Solutions.  I think her company’s name says it all. She has a wealth of knowledge that’s insane and to top it all off she’s so very passionate about helping others start and run successful business. If you haven't RSVP'd to attend BOND's Friday,  March 21st Gathering "Minding Your Own Business" you still have time.

BOND Girl: Thank you Rachel for joining us. Please tell us a little bit about you and why you are so passionate about this topic?

Photographer- Jazzy Studios of Baltimore

Rachel Dolcine: I started my business Compass Training Solutions in 2010. After a year or two of doing small consultation contracts, I realized that there was a need for affordable and comprehensive consulting services, especially for nonprofits and start up businesses. 

When I started my business, I searched around for help. The price quotes I got were discouraging. Don't get me wrong, there should certainly be a cost for providing services to anyone. However, startup businesses and nonprofits don't always have the initial capital to invest hundreds of dollars in getting help. Does this make them less deserving of the best?

Last year, I was listening to an interview given by a Google employee. He said that (paraphrase) "if your intent is to make money, you may or may not succeed. If your intent is to make a difference in the world, the money will find you". This sums up my business model. With a foundation of service and enacting change, I don't spend most of my time planning how I will make my next dollar.  I spend my time developing services that will make a difference in the businesses of my clients.

My passion for small business and nonprofit development stems from my belief that I am called to serve. This does not imply that I work for free or don't make sound financial decisions. What my calling means for my business is that I take my focus off how I can make the most money and focus on how I can make the greatest difference.

I am also passionate about women. A majority of my extensive volunteer history has been spent working with organizations that provided services and resources to women. So I decided to add on consulting to my business product list and name.

BOND Girl: At a time and day as we're living in now, how significant is it for women of color to start and run their own businesses or organizations?   Are there any drawbacks?

Rachel Dolcine: It is so important for women of color to start her own business. We are the biggest consumers across various industries yet own a minuscule percentage of the income earned from our own dollars.  Business ownership is not a new concept for our women. From past generations until now, many cultures include women in the marketplace selling items raised or created by their own hands.  History is full of accomplished women of color business owners.

Photographer- Jazzy Studios
of Baltimore

According to a 2008 report by the Center for Women's Business Research titled, Businesses Owned by Women of Color Growing Faster Than All U.S. Firms,  "[businesses] owned by women of color provide 1.7 million jobs and generate $235 billion in revenue in 2008" (www.womensbusinessresearch.org).  Center for American Progress further concludes that "businesses owned by women of color play a critical role in the current market place through job creation and added innovation in a way that they never have before.  Today women of color own more and earn more than any other time in history and the projections show that this will continue to grow" (americanprogress.org).

The setbacks are the usual suspects- inequality in the marketplace, sexism and racism.  According to American Progress, “[yet] while women, particularly women of color, have proven themselves to be successful businesswomen, barriers to their economic empowerment continue to exist. Although women of color started companies at three times the rate of other women, their revenue was less than 25% of white men." Additionally, women of color face other challenges such as single parenthood, many of us living below the poverty line and head of household stresses.  These are challenges that prove most discouraging and daunting for a woman who dreams if owning her own business.

BOND Girl: Who do you think should attend and who could really benefit from this type of Gathering?

Rachel Dolcine: Any woman who wants to or is ready to start her own business or nonprofit but is fearful, nervous, unsure, excited or determined. Any woman who may own a business but need a boost of confidence,  a support system or networking opportunity.

BOND Girl: We often hear that black owned businesses are suffering? What do you think maybe the cause and what advice would you give to improve it?

Rachel Dolcine: Based on the statistics noted above, I wouldn't say the black owned businesses are suffering as an overall statement. There are certain minority owned, not just black, businesses that are suffering because of unstable strategic planning, lack of commitment,  lack of ethics, poor customer service, weak product,  poor financial planning...just to name a few.  An improvement plan for these businesses must include a comprehensive strategic look at their business by an experienced consultant. A consultant can assist with developing a business improvement plan, which in reality may be plans to close shop.

BOND Girl: What do you think are the main reasons women haven't taken that big leap of faith?

Rachel Dolcine: One reason-FEAR. Fear maims, cripples and kills dreams and potential.

BOND Girl: Rachel, if you could set the stage for the "Minding Your Own Business". 

What should our guest expect for that evening? What kind of topics do you expect that our guests will hear March 21st?

Rachel Dolcine: The evening will be spent exploring fears women have about starting a business, pitfalls to avoid, stories and lots and lots of answering of questions! I'm attending to have a conversation with my sisters and be a resource.

BOND Girl: Are there any other thought's you'd like to share with our readers?

Rachel Dolcine: Your next step may be a leap of faith.  Are you ready to take it? I will meet you on the other side. You will survive the leap.

 

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To read Rachel Dolcine’s full bio, CLICK HERE. Come see Rachel in action March 21st 2014. For more information and to RSVP for the March Gathering, “Minding Your Own Business” CLICK HERE. Please grab your seat now as the price will increase at the door.

March BOND Gathering "Minding Your OWN Business"

If you've never heard of Rachel Dolcine you will soon. Ms. Dolcine has been the guest writer during last year's "Minding Your Own Business blogger series. She's educated, informative, engaging and knowledgeable in her craft of helping others move out of fear into action. 


She's agreed to grace us with her presences at our next BOND Gathering.  Ms. Dolince is responsible for helping countless entrepreneurs and nonprofit organizations in the Baltimore and surrounding areas. She is one person you need to know in 2014.

Be on the lookout for Ms. Dolcine's biography and our exclusive interview. Coming your way soon.

REGISTRATION IS NOW CLOSED- PAY $12 AT THE DOOR

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Past Articles Written By Rachel Dolcine
What's Your Name
How About Minding Your Own Business
The Will to Live and Succeed




 

Minding Your Own Business- "What's Your Name?"

Welcome Back to the

"Minding Your Own Business" Series

A blog about the joyful journey of small business ownership.

 

In 2010 when I decided to start a business, I had a very hard time coming up with a name and tag line that made me feel ‘right’.  One day, I asked my husband to put together a portfolio for me displaying all my creative work, resume, certificates, recommendations, etc.  When he was done putting together the portfolio, he brought it to me and asked that I look it over to make sure that it met my expectations.  Smart man! As I browsed through the various sections, I noticed that he used the picture of a compass on colored paper as section dividers.  I asked him why he chose a compass and he said the following statement that became my ‘AHA’ moment:

“Well, I wasn’t sure what I wanted to use as section dividers.  I wanted something unique.  So I thought about who you are and the type of business you wanted to do.  You’re a different kind of person.  I thought that you were very good at telling people where to go…giving them direction.  People also trust and rely on your direction and advice.  Also, it doesn’t matter which direction you choose to go in life…I know that you will be successful.”

I cannot begin to tell you the love and admiration that swelled up in my heart for this man.  He is not a man of many words and there were many times when I swore that he was not listening or noticing what I was doing with my business…but he was paying attention all along.  In that moment, I decided to call my business Compass Training Solutions.  A year later, I updated my name to Compass Consulting and Training Solutions.  Our tagline? We know where you’re heading…we’ll help you get there.

Deciding on a business name is not an easy task.  Experts will give you all kinds of advice as to the best way to choose a name BUT, since this blog is about my journey, I’m going to share five tips from my own journey.

Tip #1: Be clear: Your name should certainly reflect what you do.  However, it should also allow people to have an idea about your business before they even speak to you.  This means that your business service(s) or product(s) must be clearly defined.

Tip #2: Tell a story: Your business name should be the result of a story.  This will ensure that you have a business name that is unique.  This is also a way to engage customers who may wonder how you came up with your business name or may be a marketing opportunity to connect with customers.

Tip #3: Know your target customer base: Make sure that your target customer base can understand and relate to the name of your business.  New business owners often make the mistake of creating marketing materials, websites, promotional items, etc. with written content from their point of view or using vocabulary that is common to them.  Marketing, which includes the name of your business, should be developed from your customer’s point of view.  This point of view includes factors like ethnicity, age, gender, socio-economic factors, education level, etc.

Tip #4: Keep it simple: Be sure to select a name that a wide audience of customers can easily understand.  Keep in mind the cultural makeup of your target audience.  Use words that are easy to recognize, culturally relevant and trendy.  For example, instead of naming your business RJ’s Confections…consider RJ’s Sweet Treats.  Some customers may have the background knowledge to define confections; however, a wider range of customers will clearly understand sweet treats.

Tip #5: Be creative.  Have you ever seen business name and you immediately wanted to know more about the business? Have you ever heard a business name and acronym (letters used to spell out or represent the business name…i.e. Bringing On New Direction’s acronym is BOND) and you couldn’t get it out of your head? What were the thoughts that crossed your mind? What made the name attractive? Think outside the box.  Have fun.  Be creative.

Naming your business should be an exciting and creative experience.  Use your heart.  Use your head.  Have fun. 

Stay tuned for more of Minding Your Business. For more information on Rachel Dolcine or Compass Consulting & Training solutions visit www.compasscts.comor email compasssoultions@gmail.com.

Previous Articles from the "Minding Your Business" Series
How About Minding Your Own Business
The Will to Live and Succeed