In our Take 5 series, sponsored by Verizon, we ask women in business about unexpected challenges, their inspirations, recent wins, and how the free Verizon Small Business Digital Ready Program has helped propel their business forward. Here, we meet Pam Covarrubias, a business coach, speaker and podcaster behind Spread Ideas Move People, where she helps first-generation women and femmes create thriving businesses.
What's the most unexpected business challenge you've faced and how did you overcome it?
Pam: I had an event and the vendor changed his mind on the terms for our agreement, which was verbal because he was a friend of mine. One minute before the event, he tripled the price. I immediately cried a little and then picked myself up and said, ‘Alright, what's the solution?’ I learned first that everything needs to be in writing; to always have a Plan C in place; and that you can always figure it out. I had a really tough conversation with this person, then I talked to my team to be fully transparent, and then I figured out other ways to bring in the income.
What’s a recent small win for you and your business?
Pam: We finally have a website for the podcast. It's been a long time coming. And now we're able to truly form the brand in really cool ways. We're doing written articles now because I wanted to offer a different way of sharing our stories. I have a waitlist for the podcast and that didn't feel right because my goal for the show is to give access to our stories, so now we have a website that allows us to do many things.
Who is a woman in business that you look up to and why?
Pam: There are so many women like Oprah and Beyonce, but I really look at the women who did it before it was possible, like Mary Katharine Goddard, who was the first publisher in the United States in 1766. Women couldn't have their own bank account until 1974, so thinking about how did she make it happen when she couldn't even have money? Those are the women that I'm like, ‘Okay, if they did it, I can overcome somebody changing their mind and a price point for a venue.’
What's a book, podcast, or resource that has made an impact on you as an entrepreneur?
Pam: The $100 Startup by Chris Guillebeau. What I love about this book is that he gives lots of examples of people who started things that they just loved doing. There's a story of a couple who started doing maps because they wanted to go on a trip and there weren't any maps where they could put the landmarks. They built their first map and had to print like 25, so they printed one for themselves and decided to put the other 24 on sale, and then they built this whole business. I thought, that’s amazing.
How has the Verizon Small Business Digital Ready Program helped propel your business forward?
Pam: As an under-recognized founder, the doors have been close to me from traditional funding. Banks are like, you don’t have any assets, so looking at alternative ways [to raise funds] has always been on my radar. The Verizon Grant was something that almost was too good to be true. But I applied and I made it. It helped me discern a lot of the things that I wasn't considering because I didn't have the capital. Then I got the $10,000 grant and I was able to build a website; I hired a marketing person to help me with marketing; and I was able to just invest back in the business. To do the things that I had reflected on when I filled out the application, that's really cool.
Learn more about the free Verizon Small Business Digital Ready Program and Spread Ideas Move People.
Photo: Studio Luniste
