By JIM WYSS
Of the 6.5 million women-owned businesses in the United States, fewer than 2 percent have revenue of more than $1 million per year, according to U.S. Census data.
The Make Mine a Million Business Program is for the other 98 percent.
Launched two years ago by American Express's small business arm, OPEN, and Count Me In, a nonprofit organization that works with entrepreneurs, the program's aim is to push one million female business owners past the million-dollar revenue mark by 2010.
To do that, the organization is trying to turn its website (www.makemineamillion.org) into a hub where women can seek business resources and share their experiences.
The site is also the launching pad for a national contest to give established companies a push toward the goal.
The site is getting about 80,000 to 100,000 visits per month and more than 5,000 women have taken an online pledge to build their business past the million-dollar mark, organizers said.
"I think of this as an economic development effort that is really helping small businesses think about the big picture," said Lexi Reese, the director of advocacy marketing at OPEN from American Express. "It's a place where you can focus on your plan for growth and not just your plan for getting through tomorrow."
The site offers tips on access to capital, marketing and management, as well as links to online sources of credit, including loans from Count Me In.
As a small business owner herself, Count Me In CEO Nell Merlino said she found that many women in her shoes not only face real-world obstacles to developing their business, but also confront psychological ones as well.
She said many female entrepreneurs take pride in doing things under their own steam and are reluctant to borrow the money or find the partnerships that might help them take their businesses to the next level.
By providing those resources and building a network where experienced entrepreneurs can help those just starting out, the organization hopes to help women overcome some of those obstacles.
"This is about breaking through barriers in the system and in their heads," she said.
For the second year running, the organization is also holding a competition for established businesses.
The Make Mine a Million contest is designed for female entrepreneurs who have been in business for at least two years, have $250,000 in revenue and a strategy for reaching the $1 million mark. The entrepreneurs with the most promising plans will be invited to New York to pitch their ideas. Of those, 40 will win coaching, marketing assistance, a line of credit from OPEN, a loan from Count Me In, technology support from Cisco Systems and the opportunity to sell their products on the the televised shopping channel QVC.
The deadline for the contest is Sept. 29.
Rosana Santos was a winner from last year's competition.
The managing partner of Big Chef, a Hollywood company that makes hors d'oeuvres and canapés, she said one of the most important facets of the program is that it has given her a host of successful women to talk to.
Since winning the award, she's had the opportunity to pick people's brains about the difference between good and bad debt, and gotten tips on handling employees, she said.
But most of all she's met other women who have created massive companies. And that gives her hope that she can turn Big Chef, which she says has less than $500,000 in revenue, into a million-dollar enterprise.
"It's like an affirmation that your goal for your business is a reality," she said, "and not just a dream."
© 2006 MiamiHerald.com