So, is the name of your business also a symbol of your own entrepreneurial metamorphosis? How did you come up with this (awesome) symbol?
I have always loved butterflies because they represent evolution and beauty. I am a butterfly in my own rite. I have evolved academically, professionally and creatively, and my wings are in full span. As an attorney, mediator, entrepreneur and self-described ‘closet consultant’, my passions flutter together in harmony. I named the store Butterfly, because I wanted to change the way fashionistas look at consignment—by creating a beautiful boutique where they can save money, make money, recycle and give back to the community. Fashion has evolved, and it’s about more than just looking good.
What about disadvantages to a single woman owning a business?
Being single also meant that I was completely on my own. I did not have a second income to fall back on.
Do you think business ownership has led you to remain single?
I don’t think that business ownership has had any effect on my marital status. I was an extremely busy and active person before owning my business and predict that won’t change regardless of my marital status.
What advice would you give another single woman who is thinking about starting a business?
Pray. Dream Big. Pray. Plan Purposefully. Pray. Take Action. Pray.
What was the best training you received to prepare you as a business owner?
My upbringing, educational and practical work experience prepared me to be successful in any endeavor. Also, talking to other business owners, friends, and family encouraged me to utilize my education and experience. Once my mind was made up, other places like the Business Ownership Initiative of Indiana (BOI)* were also key in providing guidance, information and additional resources.
*[The Business Ownership Initiative, or BOI, is part of the Central Indiana Women’s Business Center, and part of the Small Business Administration at the state level. BOI offers classes on thinking about becoming an entrepreneur, to building a business plan, to networking and other skills for budding and new entrepreneurs. For more information on who they are and the great things they do, logon to www.businessownership.org.]
Did you, or are you running your business as a part-time or full-time venture? Why?
I am running my business full-time, while also working as an attorney.
Why are you doing both? (What is your philosophy behind doing both?)
I have wanted to be an attorney since I was 8 years old. I love solving problems and working with people. I don’t think that I have to choose between using the left side of my brain or the right side. I like to have my analytical and creative juices flowing at the same time.
If you had to start another business, what have you learned that you might do differently—either about yourself, or about how to run a business in general?
The most important thing that I have learned is that no matter how well thought out your plan is, things will come up that cause you to modify or change your plan along the way. You have to be flexible and practical to make it work.
How important were mentors in your entrepreneurial career?
I had several mentors that guided me along the way. The Business Ownership Initiative of Indiana was also important in the process. None of my mentors per se encouraged me to start a business; however, it was something I always had in the back of my mind since the day I walked into my first consignment store in college. I love consignment shopping and wanted to do it because it’s fun to me.
Did you start your business with your own capital?
I used my own capital, as well as a line of credit from Old National Bank.
Was the line of credit difficult to obtain, especially in this economic recession?
No—because I had excellent personal credit.
How important are your social and personal networks to the success of your business?
As an attorney and social butterfly, I have done tons of networking over the years. The relationships I built have helped build my business tremendously. I am involved in several organizations and my colleagues have supported me in the business. For example, my Alpha Kappa Alpha sorority chapter hosted an event at my store last week and it was a great turnout; 50 plus women came and it was my best sales day to date!
Why do you think more single/divorced and widowed women start more businesses than men in their respective categories, and does your theory match your own rationale for starting a business?
We are taught to put others’ needs before our own. When a woman is single, divorced, or widowed, she has a unique opportunity to stop and do something for herself.
What is your personal definition of success, and have you achieved it?
Success is dreaming and taking action to make your dreams come true. I am successful.
Julia Aquino
The How Factor, Inc.
Julia Aquino is a single mom of a 7-year-old son and has two dogs that were rescued from shelters. She was a financial analyst, manager and COO in the corporate world and currently owns The How Factor, Inc. Her expertise comes from helping troubled and startup companies become more efficient, both financially and productively. Bottom Line: She has a wonderful little family, an amazing group of friends around her, and loves what she does every day—and for that, she is eternally grateful.
The How Factor, Inc. was established to assist businesses with growth and sustainability through the documentation of efficient processes and procedures in Operations Manuals—oftentimes referred to as Policy and Procedure Manuals. The How Factor also educates and offers webinars for smaller companies that wish to document their company on their own. The company website can be found at: www.howfactor.com.
Can you describe your business in one sentence?
We help companies add structure in the midst of chaos.
You’ve got a phenomenal tag line in your email footer: “If it’s only in your head…it’s only a hobby!” Can you share where that tag line came from?
It actually came out of a conversation I had with my business coach. We were talking about how entrepreneurs know everything about their business, but if something happened to them, they’d no longer have a business, because the business could not function without them. Therefore, the business really wasn’t a business; it was a hobby. It’s all in their head and not documented anywhere. If you are in a hobby—if you build model trains or arrange flowers, for example, you never really document how you do it—you