FAQs

1. I’ve never built a business before. How do I know if my idea would be a viable business?

Great question!  If there is a market that wants, needs and is willing to pay for your product/service, you may very well have a viable business concept.  You begin by doing something called ‘customer development.’  Simply put, it’s a methodology that allows you to understand prospective customers before you invest in product development. No point in investing good money on something people don’t want to buy!  Our friends at the IU Kelley School of Business and the Purdue Foundry can help our members through this process at no additional cost.

2. How can The Startup Ladies help me startup and scale my business?

If it’s true that you are the sum of the five people closest to you, and you want to start a business, it’s important to be surrounded by entrepreneurs and investors who are where you want to be.  It’s also really important to be close to fellow entrepreneurs and investors who are going through the same thing that you’re going through.  Being a founder has proven for many to be an isolating experience - but, it doesn’t have to be.  The Startup Ladies have built a thriving community of entrepreneurs and investors, created startup and scale-up education and provide access to potential clients and investors who can help you go from concept to market.

3. I need funding for my startup. Is there funding available through The Startup Ladies?

Yes!  In an effort to increase the amount of money being invested into women-owned, women-led companies, Kristen Cooper has created The Startup Ladies Fund.  Members who have met the educational and preparation requirements may apply for funding.  Additionally, Startup Ladies board member, Dr. Lisa Hoverman works with members to identify SBIR/STTR grants funded by the federal government to help fund for-profit startups grow. 

4. I have a small business generating revenue and I would like to grow. How can The Startup Ladies help me scale?

Congratulations, entrepreneur!  First, you have to want to scale your business.  You need to be ready to invest in yourself, your team and your product/service.  Whether you self-fund or take on investment, the objective will be to substantially grow your output and ultimately increase revenue.  The toughest part is being mentally prepared.  Your starting point is choosing the direction that makes sense for you and your business.  The Startup Ladies can support you with a community of experts, education about scaling and a network of people who want to help you scale-up. 

5. I need to build a website/mobile app, but I’ve never built tech before, and I don’t know what I don’t know. Can The Startup Ladies help me get started?

Yes!  Whether you’re launching a tech product or using technology to market and sell your product/service, you can rest assured at some point, you’re going to need to build out some technology.  We can help you understand your company’s tech needs, help you prepare a tech-friendly budget, and connect you to talented and trustworthy developers and UI/UX designers who can help you build your dream.

6. Do The Startup Ladies support businesses other than tech startups and scale-ups?

Yes!  We love to support women building tech companies, but we also support for-profit companies that sell services as well as tangible products.

7. Why is attending Startup Ladies events so important to my startup?

Building nurturing and trusting relationships is the key to securing clients and investors. Regardless of your background, experience or size of your current network - it’s vital to keep adding influential people to your network.  Members have access to influencers within The Startup Ladies network who have capacity to open doors for your business.  Scheduling time to attend educational events and follow up with fellow members is paramount to your company’s success.

8. Why is there a homework assignment at Startup Study Hall?

Here’s the secret...when you follow up with the Executive Mentor and provide a sample of your work, it’s your first step to building a personal relationship with someone who could open doors for you.  Some of our Executive Mentors have become advisors and investors in our Startup Ladies.  All because attendees began by doing the homework!  So, be sure to copy down the assignment and follow up by the due date.  You may have a huge opportunity waiting for you that’s just one homework assignment away. :)

9. What is The Startup Ladies Fund?

$100 from every ‘Investor’ and ‘Support Services’ membership is allocated to The Startup Ladies Fund.  The Fund provides grants to member companies trying to prove out a concept.  Funding at this stage is difficult to secure on the coasts, and is nearly impossible to raise in the Midwest. The Startup Ladies Fund is raising awareness about new women-owned, women-led startups and provides seed money to get up and running. More details will be made available about how to apply for funding in fall 2017.