{"id":1233,"date":"2016-09-21T09:00:18","date_gmt":"2016-09-21T15:00:18","guid":{"rendered":"https:\/\/www.sunbeltnetwork.com\/milwaukee-wi\/?p=1233"},"modified":"2024-02-12T17:14:28","modified_gmt":"2024-02-12T17:14:28","slug":"woman-owned-startup","status":"publish","type":"post","link":"https:\/\/www.sunbeltnetwork.com\/milwaukee-wi\/woman-owned-startup\/","title":{"rendered":"Business Insights From a Woman-Owned Startup"},"content":{"rendered":"<p>Mettle, spirit and learning not to go it alone<\/p>\n<p>by\u00a0<a href=\"https:\/\/biztimes.com\/author\/eborst\/\">Elizabeth Borst<\/a><\/p>\n<figure id=\"attachment_1234\" aria-describedby=\"caption-attachment-1234\" style=\"width: 300px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-1234 size-medium\" src=\"https:\/\/www.sunbeltnetwork.com\/milwaukee-wi\/wp-content\/uploads\/sites\/107\/2022\/07\/kaite-van-laanen.jpg\" alt=\"Kaite Van Laanen\" width=\"300\" height=\"218\" \/><figcaption id=\"caption-attachment-1234\" class=\"wp-caption-text\">Kaite Van Laanen learned on her own how to run a start-up. But there are resources out there for woman-owned businesses.<\/figcaption><\/figure>\n<p>Women-owned firms in the U.S. represent 30 percent of all businesses in the country, according to the\u00a02015 State of Women-Owned Businesses Report. Back in 2004, when then 27-year old Kaite Van Laanen, PT DPT, opened\u00a0<a href=\"https:\/\/www.healthinbalancept.com\/\">Health In Balance Physical Therapy<\/a>, a private outpatient orthopedic and sports medicine physical therapy practice, she didn\u2019t have any business experience or female role models to which to turn. Every step was uncharted territory.<\/p>\n<p><strong>Don\u2019t go it alone.<\/strong><\/p>\n<p>Connections to people, advice and resources are vital to growing your business.\u00a0Start by targeting a network of professionals, influencers, preferred clientele and advisors you know or want to know who can help your business grow. \u201cWhen I was setting up my business, everything was new to me. I had four years of experience, a nine-month old child and a vision for a different kind of patient care model. I needed to find trustworthy advisors I could rely on\u201d said Kaite.<\/p>\n<p>Asking for help is laying the groundwork for success, not a sign of weakness. When Kaite started her practice, business management and finance were not part of her formal education. She quickly found a banker, accountant and other professional advisors she could tap for education and advice. For starters, she learned how to read a balance sheet, work with health insurance networks and maximize collections. Some of the best things she has done for the business have come from service providers that stay up-to-date on business trends and best practices.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-1235 alignleft\" src=\"https:\/\/www.sunbeltnetwork.com\/milwaukee-wi\/wp-content\/uploads\/sites\/107\/2022\/07\/womensadvocacy-photo.jpg\" alt=\"women'sadvocacy-photo\" width=\"300\" height=\"150\" \/>Since 2004, networking groups for new business owners, and especially woman-owned businesses, have sprouted up. Among them are the <a href=\"https:\/\/www.wwbic.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Wisconsin Women&#8217;s Business Initiative Corporation<\/a>, <a href=\"https:\/\/www.womenventure.org\/\" target=\"_blank\" rel=\"noopener noreferrer\">WomenVenture <\/a>in Minnesota, the Chicago Women Entrepreneurs Network, and the<a href=\"https:\/\/nawbo.org\/\" target=\"_blank\" rel=\"noopener noreferrer\"> National Association of Women Business Owners.\u00a0<\/a><\/p>\n<p><strong>Build the right team.<\/strong><\/p>\n<p>Define the core requirements you need from your employees. Kaite understood the needs of her clients and the culture she wanted to build, and she factored that into her hiring plan. Kaite\u2019s vision has always been to provide one-on-one, hands-on, skilled treatment for her patients with a licensed physical therapist, without the use of aides or assistants.\u00a0 To cultivate and retain the right team, she balances her role as owner and team member.<\/p>\n<p>\u201cI learned how to be a boss, a co-worker and a friend to my staff. We\u2019re in a small community, our children go to the same school and for the most part, we\u2019re the same age. Not only is it worth the extra effort for employee satisfaction and retention, but it\u2019s rewarding,\u201d added Kaite.<\/p>\n<p><strong>Credit is a good thing.<\/strong><\/p>\n<p>Statistics from the U.S. Department of Commerce\u00a0show that women business owners are less likely to use outsider equity financing for startup and expansion compared to their male counterparts. Yet, access to outside credit is required for the business to grow and adapt to market changes.<\/p>\n<p>Since Kaite\u2019s launch in 2004, she has expanded the breadth of her physical therapy services. She purchased a yoga business and moved to a new, larger location with state-of-the-art equipment. Kaite learned the importance of building a relationship early with her bank, so that when she was ready to expand, her bank was in step with her vision.<\/p>\n<p>\u201cMy banker has been so supportive. Early on, she was so re-assuring and showed me ways to handle financial issues. When my banker makes a recommendation today, I listen. They\u2019ve never let me down\u201d, said Kaite.<\/p>\n<p><strong>Marketing never ends.<\/strong><\/p>\n<p>\u201cStaying on top of your business\u201d is Kaite\u2019s most personal lesson. Raising four children with her husband and running a business requires attention on all fronts \u2013 internal business operations, external business growth and family matters. Amid all the daily responsibilities and problem-solving, market outreach must not be neglected.<\/p>\n<p>\u201cEven if we\u2019re busy, I learned that we couldn\u2019t stop cultivating new business because there is ebb and flow\u201d, stated Kaite.<\/p>\n<p>Keeping the pipeline stoked takes constant attention and defined practices. For example, every patient and doctor gets a personal thank you note and a gift for a second visit. It\u2019s not just treat and move on to the next patient, it\u2019s about being true to the values and principles the business was founded on.<\/p>\n<p><strong>Do what you love.<\/strong><\/p>\n<p>Coming into work every day still gives Kaite a thrill. \u201cI love what I do and I couldn\u2019t practice physical therapy in any other way. It doesn\u2019t come without challenges, particularly as we grow, but having my own business allows me to be true to my vision and values\u201d, said Kaite.<\/p>\n<p>With a busy home life, balance and delegation are vital to her happiness. If your life goals are clear, and you stay focused on them, success in business will follow. Life\/Work balance for Kaite includes community engagement that involves her family and her team, from offering free yoga classes to community fundraisers to pro bono physical therapy.<\/p>\n<p>Entrepreneurs never stop learning and adjusting to find the right formula for business growth. Starting with these five steps will hopefully kick start your journey. To stay updated on financial topics relevant to business owners and self-employed entrepreneurs.<\/p>\n<p><em>Elizabeth Borst, a personal banker with Park Bank in Milwaukee gave her permission to reprint this article.\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mettle, spirit and learning not to go it alone by\u00a0Elizabeth Borst Women-owned firms in the U.S. represent 30 percent of all businesses in the country, according to the\u00a02015 State of Women-Owned Businesses Report. Back in 2004, when then 27-year old Kaite Van Laanen, PT DPT, opened\u00a0Health In Balance Physical Therapy, a private outpatient orthopedic and [&hellip;]<\/p>\n","protected":false},"author":91,"featured_media":11650,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[68,3,17,31,75],"tags":[67,69,70,71,72,25,73,74,76,77],"class_list":["post-1233","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-start-ups","category-buying-a-business","category-general","category-news","category-woman-owned-businesses","tag-business-preparation","tag-elizabeth-borst","tag-finding-financing","tag-marketing-your-business","tag-networking-groups","tag-patti-wenzel","tag-sunbelt-business-brokers-milwaukee","tag-sunbelt-business-brokers-midwest","tag-woman-owned-startups","tag-women-owned-businesses"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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