Proven Steps to Startup Success

Episode #4 - July 18, 2019Host: Alejandra Y. Castillo, CEO, YWCA USAGuest:  Margarita Dilone, Chairman of the Board at Greater Washington Hispanic Chamber of Commerce and President/CEO of Crystal Insurance Group, and  Bridgett Gagné, CEO of Gagné Associates CPAs PLLC and Co-Founder of Not Your Average Bean Counter (NYABC)As a blueprint to starting a business, this episode will help aspiring women turn their innovative ideas into successful startups. From registration requirements to branding basics, listeners will be prepared to begin an exciting experience as a business owner. This session will discuss six easy steps to help the audience plan, prepare and launch their dream business.Check out the “Not Your Average Bean Counter” bookkeeping checklist described in the podcast.Behind the Numbers

• 2018 State of Women-Owned Business Report by American Express, and SCORE’s Megaphone of Main Street: Women’s Entrepreneurship, Spring 2018 report
• Women own 4 out of every 10 businesses in the U.S.
• Last year, 1,821 net new women-owned businesses were launched every day. Women of color founded 64% of those new businesses.
• In 2018, women of color account for 47% of all women-owned businesses, employs 2.2 million people and generate $386.6 billion in revenues.
• Businesses owned by women of color grew by 163% between 2007 and 2018.

Six steps needed for entrepreneurship success.

1. Create a business and financial plan
2. Decide on a legal structure (e.g., Corporation, LLC, or Sole Proprietorship)
3. Decide on a business name
4. Register a domain name, set up a website, and a custom email
5. Apply for an EIN with the IRS and local or state business licenses
6. Open a business bank account

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