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Kerri Miller and Elizabeth Shockman

Women entrepreneurs: What I wish I'd known when I started

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Have you ever dreamed of starting your own business? Of sticking it to the man and working for yourself? MPR News host Kerri Miller asked three women entrepreneurs to share what they wish they'd known when they started their own businesses.

Alex Steinman, co-founder of The Coven, said she figured out how to build up her confidence and increase her tolerance for taking risks.

"Any entrepreneur has to have some kind of risk-taking, Evel Kneivel bit in them," Steinman said. "But I think there is something to being taught about risk taking... and I think that's why there aren't very many women entrepreneurs who make it. Because not very many of them are taught to negotiate; are taught financial acumen and business acumen."

Dara Beevas, Co-founder and Chief Strategic Officer of Wise Ink Publishing, said she learned how to go with the flow.

"You shouldn't judge your big picture based on what today looks like," said Beevas. "There are days when we're doing super well and the account looks awesome. And then there are days when I cry about the fact that there's not any money in the account... Your big picture is what it is, and your day to day is what it is."

Davis Senseman, founder of Davis Law Office, said she relies on like-minded entrepreneurs to get her through the ups and downs of running her own business.

"I think a huge thing for me was finding 'my people,'" Davis said. "You have to go out and find other business owners who share your values and who, on your worst day, there's someone who's going to be having their best day, and you can remember, 'Oh. That was me two days ago.'"

All of the women agreed an important first step to starting your own business was to just call it what it is.

"One of the biggest pieces of advice that we ever got was that we need to stop calling it a business idea and start calling it a business," Steinman said. "People don't take you seriously when you say, 'It's just an idea.'"

Use the audio player above to hear the full segment.