SOURCE RW Entrepreneur Spotlight

Teresa E. Tate-Lewis, CEO

Regularly, we interview a successful SOURCE RW client to ask how SOURCE RW has impacted their business. This month, we feature Teresa E. Tate-Lewis, CEO of West of the River Diversified, LLC.

          Teresa E. Tate-Lewis

"Plan in pencil but dream in Ink!!! My return to Indianapolis’ Near West side where I grew up came from a desire to revitalize my family business and create business opportunities for family and friends while making a positive impact in the Haughville Community," says Teresa.

What services have you utilized at SOURCE RW and how have you benefitted?

Source RW is helping me to breathe life back into our family business. Their educational services and coaching have all pointed me in the right direction by empowering me with tools and information that will sustain our business for many years to come.

What made you interested in business ownership?

My interest in becoming a community entrepreneur originally came from my father, Douglas D. Tate, Sr. He has always been active in the Haughville community and Tate's Barbershop has been somewhat of an icon in this community for over 50 years. My dad's passion to serve God's people essentially rubbed off on all of his 4 children in some capacity.

What have you enjoyed most about business ownership?

Business ownership is very challenging, often times scary, but I think just knowing that you are charting your own life's course, while giving others the opportunity to chart theirs as well, makes the journey worthwhile.

What have you enjoyed least about business ownership?

Getting others to see, invest and share in your vision has been the most daunting for me.

Was there ever a point when you wanted to quit?

Many times I've wanted to 'take my ball and go home,' so to speak, but entrepreneurship and making a positive impact on the community has been the life's work of my father, that I too feel compelled to continue. As a retired firefighter and now a VA nurse, I am aware of community need and I want my encore career to be one of service, but with me at the helm.

If you could tell aspiring business just one thing before their journey – that you had wished you had known prior to starting your journey – what would that be?

Plan in pencil but dream in Ink!!!

"Haughville Strong" neighborhood mapping project

                            Dr. Toya Crain

"The Strength is in the People!" was the quote that Dr. Toya Crain repeated as she opened the April 10th, Haughville Strong! Neighborhood Association (HSNA) Meeting. SOURCE RW was, again, present and engaged in efforts to improve opportunity within Indianapolis’ Near West.  

In their ongoing efforts to improve the quality of life for the residents of Haughville, the HSNA hosted an evening workshop for Haughville residents at Christamore House. Students of the Herron School of Art + Design at IUPUI facilitated the discussion and led the group through both creativity and neighborhood mapping exercises. Mapping was used to allow the group to identify the resources that can be utilized to support development initiatives, identify gaps in the neighborhood, assess the strengths and weaknesses of assets, and promote connections/relationships between family, neighbors, businesses, and community partners. SOURCE RW joined in the conversation by mapping potential business opportunities and community partnerships within and between Haughville and throughout the Near West. 

HSNA plans to continue focusing on “workshop” style sessions rather than traditional meetings. All neighborhood residents, business owners, commercial/residential land and business owners and anyone interested in the success of Haughville and the Near West are welcome to attend. In upcoming sessions, Herron students will also be assisting the group in creating a community guidebook that will provide assistance in establishing and reestablishing overall community values.

Haughville STRONG Neighborhood Association meets on the second Tuesday of every month at Christamore House at 5:30pm, located at 502 N Tremont St, Indianapolis, IN 46222.  More information is available at nearwestindy.org/haughville. 

Boomer TV and SOURCE RW – Coming to a TV Near You!

Indy Boomer TV premiered on WFYI 20 this past April – and SOURCE RW was a part of it all! With two segments focusing on the business start-up to scale-up educational opportunities we provide and the recent addition of our Encore Career Series, we found ourselves a big part of their third episode which aired April 24th. 

If you missed the show, Saidah Pearsall, Board Member and local entrepreneur of Shea BODYWORKS, had an opportunity to discuss the “one-on-one attention” that SOURCE RW provides for those struggling to get their business started as well as mentoring and our venture fund program for those looking to scale their business. In a subsequent segment, Mark Roger, Center Director, discussed offering the “idea of business ownership as a viable career option” within the neighborhoods we serve and SOURCE RW’s coaching, workshops, and signature series like our Encore programs: Entrepreneurship for business owners 50yrs+.

Boomer TV, aimed at Indianapolis residents born between 1946 and 1964, previously aired on WISH-TV Channel 8 and will now run on WFYI 20 on Tuesday evenings at 7:30pm. Boomer TV, hosted by Paul Poteet and Julie Patterson, highlights programs, opportunities, and information relevant to the “Baby Boomer” generation living in Indianapolis. 

While SOURCE RW aims to assist all ages and stages of business development, our Encore Series is specifically designed with those age 50+ looking for a “lifestyle career’ to take them into retirement.  Recognizing that this age group is in a unique position for entrepreneurship, SOURCE RW engages, encourages, and educates on how to take the leap into business ownership.

To view upcoming workshops from the Encore Series and more, visit our website!

ONLY ONE MONTH UNTIL SOURCE RW Kauffman Fasttrac® Business Owners Series!

April 26 - June 28 | Thursday evenings | 6:00pm - 9:00pm |  $500 $149 - Limited time only!

Have you started your business but are unsure if your business is set up correctly? Looking to deepen your understanding of business ownership and apply new ideas to a business you’ve owned for years? If this sounds like you, the Kauffman FastTrac® Business Owners Series may be a great fit. Over a 10-week period, our series of classes will provide you direction in determining your market, identifying your profit margins, and confirming what you need to grow your business. 

What do past graduates think about the Program? Last fall, Hannah Northup, owner of NorthupHR, graduated from our Kauffman Series and she expressed that she most enjoyed the opportunity to build relationships with small business owners. “I wish I had come to SOURCE RW and taken the Kauffman class so much sooner. Even if you're not ready to start your business, it is important to learn about the start-up process and do your market research early on," Hannah said.

A key outcome of this program is a researched, developed, and written Business Plan that articulates your business concept. This process will help you reduce the normal risks of start-up and increase your chances of success by replacing guesses with facts. 

Weekly sessions include group discussions, coaching sessions, and networking opportunities with one another, staff and guest speakers. During the final week of the series, participants participate in a Pitch Fest. Our most recent class competed for $2,000 start-up capital award. Out of the Fall 2017 class, Hannah tied for first place along with Carlotta Stepp. Pitch Fest gives Kauffman class participants the valuable opportunity to practice and hone their business pitches before approaching potential investors. 

There are still a few seats left for the next round of the Kauffman FastTrac Business Owners Series! Classes begin on April 26th and will take place at the SOURCE RW office (2230 W. Michigan St.) Thursdays from 6pm-9pm. Thanks to the generous support of our JPMorgan Charitable Trust Grant, SOURCE RW is able to once again offer this valuable 10 week series at only $149. A significant discount from traditional $500 enrollment fee. 

For more information and to determine if Kauffman is the best fit for your business, contact Mark Roger, Center Director, at 317-737-2155.  Registration deadline is April 20th. Learn more and register here.

Introducing Elizabeth Davis

SOURCE River West's Operations Manager

We are pleased to introduce Elizabeth Davis, the newest member of our SOURCE RW team! Elizabeth has taken on the role of Operations Manager and will be working to manage the day-to-day operations of SOURCE RW. She brings with her 10 years of experience in the nonprofit world, most recently as the Special Projects Manager with Indy Reads. Before working with Indy Reads, she was the Volunteer and Intern Coordinator for The Salvation Army Indiana Divisional Headquarters. Elizabeth’s experience in creating new programs and trainings, developing organization-wide processes and procedures, grant writing and management, and so much more will serve her well in the role of Operations Manager.

As an avid canine enthusiast and Certified Dog Obedience Instructor, Elizabeth also owned and operated a dog training business for 4 years and understands firsthand the rollercoaster ride that business ownership can be.

“The mission of SOURCE River West really drew me to this position. As a former business owner, these are precisely the kinds of services that I wish had been available when I ran my business,” says Elizabeth. “I am excited to have the opportunity to work with SOURCE River West to help ensure that the word gets out about these great services and to help entrepreneurs on the near west side.”

In her spare time, Elizabeth enjoys spending time at home with her husband, two young children, and two mildly neurotic dogs. She also wishes she had more spare time to read, pretends to like gardening, has an affinity for tigers, truly enjoys snow, and is always up for trying out new restaurants with diverse vegetarian options.

Elizabeth would love to get to know everyone involved at any level with SOURCE RW. Please feel free to say hello anytime by emailing elkdavis@iupui.edu.

SOURCE RW Advisory Board Spotlight

Mohit Nigam, Co-Chair, SOURCE RW Mentor Connect program

This month’s spotlight is shining on Mohit Nigam, SOURCE RW Advisory Board member and co-chair of our new SOURCE RW Mentor Connect program.

                Mohit Nigam

"The SOURCE RW Mentor Connect program matches entrepreneurs with seasoned professionals. I wanted to volunteer for this program because this work allows me to utilize my skills and background while learning from and with the individuals that are creating new ventures," says Mohit.

What made you want to be involved with SOURCE RW?

The mission of the organization is admirable. It is a great opportunity to engage in the community and promote growth on the Near West side.

What do you hope clients get out of it?

I hope that entrepreneurs will get to know themselves and their businesses better through Mentor Connect, so that they can truly feel more confident and accomplished on their journey.

What made you interested in business ownership?

My dad. He’s been a successful entrepreneur for 20+ years so now I have to match that or do better.

What have you enjoyed most about being a business owner?

Business ownership is very important to me. I hope that clients are able to gain clarity about their ideas and learn from experienced business leaders in their chosen industry.

What have you enjoyed least about being a business owner?

There are always a hundred things going on, so juggling tasks and prioritizing effectively has to be the most challenging part of the job.

What you say to an entrepreneur who wants to quit?

There is always a point, whether it is a new business or established, where a business owner has to decide to stop or continue. Keeping your eyes on the goal you set out to accomplish, pivot when needed, but stay strong and committed.

If you could tell aspiring business owners just one thing before they begin their journey, what would that be?

You are not going to be able to please everyone. There is just no way, so accept that you will fail, learn from it, and keep pushing forward.

Haughville Strong!

Stay current! Watch for pink postcards

As an engaged neighbor of the Near West wanting to make the most of our neighborhoods, SOURCE RW is teaming up with the Haughville STRONG Neighborhood Association (HSNA) to promote the Haughville STRONG movement!

You will start noticing pink postcards placed on the doors or windows of local businesses and homes that read, “Haughville Strong!” along with a website link. The link contains pertinent neighborhood information including details on the monthly Haughville Neighborhood Meeting that is open to the public. This is part of a resident-led unified effort to promote and empower residents of Haughville.

SOURCE RW also hosts Haughville’s Community Builder, Drew Rensberger, at our Center on Wednesdays. Drew says, “I strongly believe in the people and in the future of Haughville,” and can often be found engaging residents and encouraging neighbors to join the HSNA.

The HSNA was founded in Fall 2017 by a group of residents who wanted to be more involved in their neighborhood. While the neighborhood already had an active role in the Near West Collaborative, they had a desire to build their own association to continue improving the quality of life of Haughville residents by organizing and empowering those very same residents.

Every HSNA meeting begins with a statement of affirmation. Written by the President, Dr. Toya Crain, this affirmation demonstrates the goals and outlook of the organization. It reads:

The Haughville STRONG Neighborhood Association (HSNA) facilitates community inclusiveness, awareness, investment and involvement to promote a safe, sustainable and vibrant neighborhood. As residents, we promote and share the LOVE with our neighbors and community. We believe in Loving Our Vibrant Environment (LOVE) and today is a new day. A new chapter in our community has begun. We are strong, fearless, proud and confident in who we are, Haughville STRONG. We ARE SOMEBODY and will be somebody the rest of our lives.

Haughville Strong! postcards are available at SOURCE RW anytime from 9am-2pm Monday-Friday and at monthly meetings. If you live in the Haughville area and are interested in learning more, the Haughville STRONG Neighborhood Association meets on the second Tuesday of every month at Christamore House at 5:30pm, located at 502 N Tremont St, Indianapolis, IN 46222.

Move Your Business Forward Through This Proven Education Series

April 26 - June 28 | Thursday evenings | 6:00pm - 9:00pm |  $149 (Value of $500)

SOURCE RW in partnership with the Indy Chamber’s Business Ownership Initiative (BOI), is again offering the Kauffman FastTrac Business Owners Series at SOURCE RW. Sessions are geared towards entrepreneurs who want to explore the next stage of growth. Our 10-week deep dive is taught in a supportive and encouraging environment. This training is ideal for newly established entrepreneurs and those looking to scale-up their business. Your business is your dream. Gain the tools to make it a reality.

Curriculum

Session 1: Exploring Entrepreneurship

Session 2: Identifying/Meeting Market Needs

Session 3: Setting Financial Goals

Session 4: Planning the Product/Service

Session 5: Researching/Analyzing the Market

Session 6: Reaching the Market

Session 7: Building the Organization & Team

Session 8: Planning for a Profitable Business

Session 9 - Cash Flow and Funds Seeking       

Session 10 - Implementing Next Steps and Pitch

Competition

This series will help you determine whether your business has a market, can make a profit, and can provide the money you need. Weekly sessions include group discussions, coaching sessions, and networking opportunities with one another, staff and guest speakers. The course ends with a pitch contest in which the entrepreneurs share their business concept, receive feedback from experienced entrepreneurs and business professionals, and have the opportunity to win start-up capital provided by the Kelley School of Business at IUPUI.

Classes meet Thursdays from 6p-9p April 26 – June 28. Course Fee:  $149 – a $500 value with a portion underwritten by JPMorgan Chase Foundation.

For more info and to confirm that the series is the right fit for you, contact Center Director, Mark Roger, at info@sourcerw.org or by calling 317-737-2155. Register here.

NEW! Mentor Connect

Business owners connecting with industry experts

It’s hard work to build your business and there are challenges around every corner.  Fortunately, entrepreneurs don’t have to go it alone. Recently, SOURCE RW begun offering Mentor Connect – a free, mentor program that matches clients to seasoned professionals who work to creatively and honestly solve specific problems and help mentees to build and expand their businesses. 

Through SOURCE RW’s Mentor Connect, you can connect with a mentor for a reality check, constructive criticism, or simply a pat on the back. A well-chosen mentor is someone who will: 1) care and invest in your professional growth, 2) share a similar value system in leadership and management, and most importantly, 3) speak the truth. Input that can make a significant difference to someone looking to start-up or scale up their business.  

Mentor Connect attempts to identify a mentor in the same or similar business industry or type of business. Someone who better understands your business's specific and unique challenges and concerns. Through mentoring, your chances of success increases with access to the business knowledge and guidance of experienced professionals who share their skills sets and expertise. It’s actually a “win” for our mentors too since they want to see progress and take pride in knowing that their input has been helpful.

A successful connection can really make a difference in getting your start-up started on the right foot or scale your existing business. Learn more about Mentor Connect by calling Jacey Stuckey, Program Assistant at 317-737-2155.

Entrepreneur spotlight

Marilyn Lopez, Owner/Designer

Regularly, we interview a successful SOURCE RW client to ask them to share a bit of their entrepreneurship journey and how SOURCE RW has impacted their business. This month, we feature Marilyn Ivette Lopez, Founder, Innovator and Engine of eStudio 429 and La Guia Indy.

Marilyn Lopez

"La Guía Indy which translates as “The Guide Indy” and eStudio 429 were conceived in 2011 and our product, La Guía Indy was introduced to the public in January 2017," says Marilyn. eStudio 429 is a bilingual graphic design and marketing studio whose focus is on bridging the Latino community of Indianapolis with the general traditional Indiana market. Fundamentally, eStudio 429 creates the platform to provide multiculturalism marketing through a mobile app called “La Guía Indy.” 

What made you interested in business ownership?

Having an entrepreneur spirit since high school, I knew that one day I would own my own business. As I volunteered and immersed myself with my grassroots, I learned to appreciate the beauty, flavor, warmth, passion, and dedication my people have with their small businesses. Helping Latino business owners eventually became my passion.  

When I worked in Corporate America, I witnessed the lack of attention given to the Latino community. It was apparent that business owners needed a voice to introduce their businesses. This dream of becoming that bridge to connect Latino small businesses to the general market and vice versa was my inspiration and motivation.

What have you enjoyed most about being a business owner?

Becoming a business owner is an amazing journey of gathering courage, stirring a giant pot of ideas, becoming the wind to blow the seasoned ideas into existence, and being the servant that brings the actual business to serve the community or public at large. Seeing the doors open wide open and the connections of dots by services that are rendered to those who need it, and seeing their smiles of satisfaction that their goals are being accomplished gives me confirmation to keep running the race of being an entrepreneur and keeping the faith that I had since the beginning.

What have you enjoyed least about being a business owner?

Definitely experiencing the stresses of the unseen. Making sure you are prepared for the obstacles and challenges that may come, especially the ones that come from maintaining a steady cash flow.

If you could tell aspiring business owners just one thing before their journey - that you had wished you had known prior to starting your journey - what would that be?

I would share with aspiring business owners, that there is help! You are not alone. There is a community of people and organizations that want you to succeed. There are mentors, assistance, and lots of open doors. Don’t start alone, begin with those who hearts’ desire is to see emerging business owners rise and succeed such as Source RW. With hard work, one open door will lead to many open doors. And an open door is worth much more than you can imagine.

How did you learn about SOURCE RW?

I was referred to Source RW by a professional acquaintance who thought I would benefit from their educational resources. I met with Mark Roger and it was an instant, successful connection and collaboration for my business.

What business topics have you addressed thus far?

I have worked regularly with a business coach at Source RW.  Those sessions have successfully guided me through simple business basics, decision making, problem solve strategies and has helped me make some amazing connections.

What “one” thing stands out that you have learned at SOURCE RW, thus far?  

What I have learned from Source RW is that there are so many ways to make decisions, but knowing that as a business owner, I am not alone. The Center is a place where I can share my business concerns and confident that professional advice will be provided by genuine professionals who want to see you succeed. SOURCE RW provides some amazing services and their staff shows real concern for the entrepreneur community of Indianapolis.

Overall, how have you benefited from your time at SOURCE RW?

As I continue to collaborate with Source RW and learn from their expertise, I am able to make the correct goals and have the accountability to keep myself focused. I am great at what I do in marketing and design, but I never studied business. Source RW has become my source for business expertise, so my business can flourish. 

LOVE Thy Neighborhood Awards

SOURCE RW is proud to be named finalist!

We are excited to announce that SOURCE RW has been selected as a finalist in the Opportunity Category for the Annual LISC Indianapolis Love Thy Neighborhood Awards. Local Initiatives Support Corporation (LISC) Indianapolis is dedicated to transforming distressed neighborhoods in our community into healthy and sustainable communities—good places to work, do business, and raise children.

The winner in each category receives a funding award for their organization.  This 2nd annual event will take place on Thursday, April 26, 2018, at the Indiana War Memorial, 55 E. Michigan St., 46204, starting at 5:30pm. Tickets are $25 per person and Corporate packages are available. Cocktail attire is suggested.

This annual event starts at 5:30p with an incredible reception of heavy hors d’oeuvres and drinks that showcase the authentic cultures of area neighborhoods. The awards ceremony follows at 6:30p which features videos telling each of the finalists stories, created specifically for this evening by LISC, being shown. The evening culminates with all attendees viewing a short video on each finalist and event attendees voting on their favorite Program for the People’s Choice Cash Award. It’s a significant event for SOURCE RW and we hope that you come and vote for SOURCE RW and celebrate the success of the Near West with us!

Purchase tickets to attend the Love Thy Neighborhood Awards here.

Professional Meeting Space

Workspace for evening/weekend meetings

SOURCE RW is available for corporate gatherings. Located in downtown Indianapolis on the Near West side, SOURCE RW has space for 20-30, parking, and costs only $45 for 3 hours. We also offer rental times on weekday evenings until 9pm and weekends based upon availability. 

SOURCE RW provides:

• Free guest WiFi
• Worktables and seating for 30ppl with additional seating available upon request      
• Technology and presentation capabilities available upon request    
• Kitchenette area for food preparation        
• Coffee and beverage service available for a fee upon request
• Neighborhood catering/delivery options available   

Our Center is just moments from the IUPUI campus. Conveniently located with quick access to downtown Indianapolis, airport, and I-465. Ample street parking available. Additional fees will be incurred on items made available upon request. For room date availability information and additional rental detail, call SOURCE RW at 317-737-2155.

Kauffman: Business Owners Education Series

Next series begins April 26 - June 28, 2018

Thursday evenings | 6:00pm – 9:00pm | Price:  $149 - Limited Time only!

SOURCE RW once again is offering the Kauffman FastTrac® Business Owners Series, thanks to the generous support of our JPMorgan Charitable Trust Grant. Our program provides entrepreneurs the foundation and network needed to succeed. Your business is your dream. Gain the tools to make it a reality. Courses are geared towards entrepreneurs who want to explore the next stage of growth. Classes meet Thursdays weekly and the program concludes with a Pitch Fest where participants have an opportunity to introduce their concept.

Ideal if you are looking to move your business idea forward, our multi-week course provides a proven framework to help support you as an aspiring entrepreneur.  Lead by local entrepreneur Denise Herd, our course is taught in an interactive, group-oriented environment where you will be encouraged to network with class members to bolster your business idea.

Course Curriculum: 

Week 1 - Exploring Entrepreneurship

Week 2 - Identifying/Meeting Market Needs

Week 3 - Setting Financial Goals

Week 4 - Planning the Product/Service      

Week 5 -Researching/Analyzing the Market

                  - BREAK-

Week 6 - Reaching the Market

Week 7 - Building the Organization & Team   

Week 8 - Planning for a Profitable Business

Week 9 - Cash Flow and Funds Seeking     

Week 10 - Implementing Next Steps and Pitch Competition – April 1

REGISTER: http://www.sourcerw.org/new-events/2018/2/8/kauffman-new-business-education-series

For assistance, call 317.737.2155.

SOURCE River West, 2230 West Michigan Street

Meet Ruth Morales!

Third Wednesdays | 3:00pm - 5:00pm | Free

       Ruth Morales

SOURCE RW would like to introduce Ruth Morales, our neighborhood advocate!

Being directly engaged with the residents of the Near West is a vital part of SOURCE RW’s success. Twice each month, we focus on our neighborhoods and their economic development through community discussions hosted by Ruth Morales who is the Mayor's Neighborhood Advocate for Downtown and the Near Westside of Indianapolis.  

Originally assuming the role of Community Coordinator of the Near West Collaborative in August of 2013, she has faithfully served our neighborhoods over the last five years. In January of 2017, Ruth’s move to the Mayor’s Office as a Neighborhood Advocate provided her an opportunity to really make an impact. In this role, she is the Near West's direct link to the Mayor's office, city departments and services.

Ruth offers "Office Hours" two Wednesdays per month which are open to all citizens here at SOURCE RW. The second Wednesday of each month (3p-5p) Ruth focuses on issues and answers questions that face the quality of life within the four neighborhoods and the River West corridor. The third Wednesday of each month (3p-5p) she focuses on economic issues pertinent to the Near West including business opportunities, driving economic growth, and the economic viability of the four Near West and surrounding neighborhoods. As a complement to SOURCE RW’s bilingual business coaching, Ruth welcomes bilingual discussion for Spanish speaking attendees while at SOURCE RW.

“I really appreciate being able to regularly meet with residents at SOURCE RW and directly address their questions and concerns," says Ruth. "It is most beneficial when I am meeting with business owners needing information or presented with an economic development project. These meetings also allow me the opportunity to invite applicable governmental experts to join meeting sessions and address issues expeditiously.”   

Wednesday “Office Hours” are 3p to 5p and always open to the public.

Entrepreneur Spotlight

Teri Cox, Owner/Designer

Regularly, we interview a successful SOURCE RW client to ask how SOURCE RW has impacted their business. This month, we feature Teri Cox of Handcrafted Jewelry by Teri C.

   Teri Cox, Owner/Designer

Handcrafted Jewelry by Teri C. launched in 2008. The previous name of the business was TAC "Bead Dazzled" Jewelry Boutique. "We create and sell handcrafted jewelry for both women and men," says Teri. "In addition to our online presence, we create custom pieces and a wide array of jewelry repair options."

What services have you utilized at SOURCE RW and how have you benefited? 

I have worked with SOURCE RW on both my social media and my overall website presence. I am far more confident when connecting with potential clients. SOURCE RW has taught me how to utilize social media – and the tools that are part of the sites - to my advantage as a business owner. Before coming to SOURCE RW, I struggled on my own to figure out how to make my sites look professional and function better. They also went a step further with me to review my website and made recommendations so that it integrated well with my social media. Thank you SOURCE RW!!!

What made you interested in business ownership?

I was introduced to business ownership when I was in the 8th grade and I knew that I wanted to eventually have a business of my own. Just the thought of the independence of working for myself was so exciting to me, even at a young age. I knew that someday I would be a business owner.

What have you enjoyed most about being a business owner?

Meeting other people in business for themselves along the way. Hearing their stories, their struggles and their successes is inspiring to me and has empowered me to be a stronger and more engaged business owner. 

What have you enjoyed least about being a business owner?

There are so many things you just don’t know. A great example is sheer “space to work.”  I had no idea what my space needs would be when I start out and it lead to several challenges, some costly, that could have been avoided.

Was there ever a point when you wanted to quit?

I have never thought about quitting. Quitting is not an option! I like to consider myself a work in progress. If I could share one piece of advise with an aspiring business owner, I would tell them that business ownership takes an all-out commitment, lots of Grit, and a big dose of perseverance.

What’s Your Next Series gets started!

McKee kicks-off Encore discussion series

Mary Pat McKee

Some may call them “encore careers,” or “lifestyle careers,” or even “starting overs,” but looking to begin a new career in your 50’s is becoming more and more commonplace. On January 18th, SOURCE RW kicked-off our new Encore Programs with our “What’s Your Next” Discussion Series.  In January, our discussion was lead by Mary Pat McKee who is founder and CEO of IndyBoomer Magazine. McKee’s presentation focused on her passion to showcase engaged, boomer-aged individuals as well as provide her own list of “tips and pointers” for those seeking to reinvent themselves professionally later in life.

Looking for a lifestyle career herself, McKee left a corporate position in 2007 to follow her passion and open IndyBoomer. Today, IndyBOOMER connects IndyBOOMER Magazine, IndyBOOMER TV and BOOMER Radio providing useful information to Boomers living in the Indianapolis metropolitan area. Articles, shows and podcasts are upbeat and positive, focus on lifestyle issues, are short, and are of broad interest to the target audience. All three types of media address topics that impact the lives of Boomers by partnering with subject matter experts from the Indianapolis area to ensure that readers are aware of the resources locally available to them.  

McKee began by identifying where most of her conversations with boomers begin. Customarily, her first conversation begins by asking “what do you really want to do and accomplish?” A struggle for most people who have never given much consideration to how their life would playout between the ages of 50 – 75. Today’s boomers began their careers anticipating to retire at age 65 but now realize that they may still have 25 or 30 more years of life ahead of them. This means they are facing 2-3 decades of life that needs to include both income and purpose.  McKee says, “determining your personal and professional goals, or simply identifying what you want to accomplish in those boomer years, may be the most difficult hurdle of all.” A hurdle that many boomers never overcome.
 
She believes there are two things that have made her successful:  1) hiring the right people, and 2) hiring people who can see her vision. “Surround yourself with employees who are good at duties and responsibilities that you are not,” says McKee, and give them an opportunity to thrive is what her working environment is all about. An example is social media. I knew very little but I hired someone who was proficient at social media and could take my business places I could have never imagined.” The broader the expertise within the business the happier she is. McKee noted, “while boomers may be reluctant, it’s important for them to not be shy in hiring individuals who are better than themselves at certain tasks – it’s what creates a depth and breadth to a business.” She also prefers to focus on employees who can see “her big picture of the business.” It’s “difficult to train someone who just doesn’t share my vision,” adds McKee, “and I have tried but they never seem to be a good fit in the organization.”

“Showcasing successful boomers to emulate and providing career support to this often overlooked segment of our community,” notes McKee, “is what SOURCE RW’s Encore Programs are all about and why I wanted to be one of the first to participate.  It’s important work and a natural fit for IndyBoomer.

The Encore Programs are created especially for those seeking a second or lifestyle career at age 50+. Encore Programs meet bi-weekly on Thursdays and alternates between free discussion sessions ("What's Your Next") and kick-starter sessions that provide a hands-on approach to addressing pertinent business ownership issues ("Encore Career Toolbox"). Check the calendar for upcoming Encore sessions here.

Entrepreneur Spotlight

Dan Madden, CEO of From Vine to Wine Tours

Start Date:  On my 65th birthday, January 22, 2018

Regularly, we interview a successful SOURCE RW client to ask how SOURCE RW has impacted their business. This month, we feature Dan Madden, CEO of From Vine to Wine Tours and Fall 2017 Kauffman FastTrac® Business Owners Series graduate.

Dan Madden, Owner

From Vine to Wine Tours provides knowledge-driven, fun wine tours and tastings of estate vineyards throughout Southwest Michigan. "Our target audience is central and northern Indiana and the Chicago area,” says Madden.

What made you interested in business ownership?

My wife and I wanted to start a business before retirement.  We are really excited to watching our business grow and prosper.  Our goal is to build and expand our business and, ultimately, sell the business in a few years. 

How did you learn about SOURCE RW?

I was recommended to SOURCE RW through the Indy Chamber.

What business topics have you addressed thus far?

I have learned the basics of business ownership, the importance of market research, which numbers are the most significant and how to better promote my business through my participation in the Kauffman Business Owners Series. 

What “one” thing stands out that you have learned at SOURCE RW, thus far?   

When it comes to business ownership, the buck stops with me.   From Vine to Wine Tours will be what I make out of it. 

What do you anticipate enjoying most about being a business owner?

I really do appreciate being in the situation where the buck stops with me.  I have no reservations in working hard – it leads to success.

If you could tell aspiring business owners one thing before their journey - that you had wished you had known prior to starting your journey - what would that be?  

It’s all about the numbers and numbers never lie.  1 +1 will never equal 3 no matter how badly you want it to equal 3.  The numbers are always, and forever, your guiding light.

How have you benefited from your time at SOURCE RW? 

SOURCE RW provides a very comprehensive portfolio of business education options for the start-up entrepreneur.  I am confident that I will continue to connect with the Center as needs arise in the growth of my business.  Most importantly, under their direction, I have received confirmation that my business concept is a doable business model.  Working with SOURCE RW has made me much more confident in opening my business. 

Meet Sarah!

SOURCE RW Business Coach

Let us introduce you to Sarah MacInnis who coaches clients on Mondays and Tuesdays at SOURCE RW.

Why do you enjoy coaching: “Entrepreneurs come for business coaching for a variety of reasons. They might have a dream they want to start; they might want to have more control over their career; they might need help troubleshooting a business issue or problem; or they may need capital to grow their business. Whatever the reason, I am energized by trying to understand each client’s unique situation and helping to move them beyond their current position to a better one. Working together with the appropriate resources, connections and strategies, we can build some amazing business ventures!”

Sarah’s expertise in personal and professional coaching, training and assessment; strategic planning; financial management; program administration; networking; stakeholder consensus building, staff supervision, and employee development have established Sarah as strategic thinker focused on interdisciplinary solutions. She has over 12 years of experience working for national and local non-profit organizations.

Her coaching is offered free of charge to clients through the generosity of the JPMorgan Charitable Trust. Sarah currently serves as the Director of Business Coaching Services for the Business Ownership Initiative (BOI) and supports her community by volunteering with the Children’s Museum where she designs and teaches enrichment programs for the museum preschool.

The proof is in the numbers

Successful Progress at SOURCE RW

In business, if you want to know how well a business is progressing, they say that the “proof is in the numbers.”  You can identify business success and impact by tracking the numbers produced.  As we reach the end of our first year in our site, there is no better time to review and highlight our first-year successes.

We couldn’t be more pleased with the positive response that we have received from both our neighbors within the Near West neighborhoods and the Indianapolis business community.  Where is the proof?  Here are just a few of the numbers: 

Entrepreneurs completed full Kauffman FastTrac® Business Owners Series.

Near West residents attended a workshop.

Hours of coaching provided to Near West residents.

Hours that SOURCE RW professionals were engaged in our community.

Individuals and small businesses received assistance.

Community-wide outreach business introductions made.

Of course, we here at SOURCE RW are like any other start-up entrepreneurs. We are looking eagerly to our second year with more challenges, more clients, more businesses and an opportunity to watch our impact continue to grow!

Success at Pitch Fest – Fall ‘17

On November 16th, 2017, SOURCE River West Entrepreneurship Center (SOURCE RW) hosted its second Pitch-Fest, at SOURCE RW, 2230 West Michigan Street Indy. Entrepreneurs who had completed the SOURCE RW Kauffman FastTrac® Business Owners Series were invited to pitch their business ideas and possibly win a $1000 award, provided by the Kelley School of Business, Indianapolis.  Kauffman FastTrac® is offered at SOURCE RW in partnership with the Indy Chamber’s Business Ownership Initiative (BOI) and with funding from the JPMorgan Chase Foundation.

The winners of the IUPUI Kelley School of Business $1000 awards were Carlotta Stepp who presented her business:  Smart & Snazzy (manufacture/sale of customized wallets) and Hannah Northup who presented her business: Northup HR (human resource consulting). Congratulations also goes out to our other participants, Chandra Walker, Dan Madden, Anthony Barr, Robin Barr, and Devina Jani, who completed the Kauffman FastTrac® course and participated in the SOURCE RW Pitch-Fest.   

Special thanks to the SOURCE RW Pitch Fest Judges: Leanne Emery of SCORE Chapter 6, Saidah Pearsall of Shea BODYWORKS, Phil Powell of Kelley School of Business, and Denise Praul of Accurate Tax Management Corp.

With support from the JPMorgan Chase Foundation, SOURCE RW is able to offer the Kauffman FastTrac® Business Owners Series at a discounted rate of $149. The next Kauffman FastTrac® Business Owners Series will be held February 1 – March 29, 2018 at SOURCE RW. Aspiring entrepreneurs and new business owners are encouraged to register and take their businesses to the next level! Please visit here for more information.