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Kathy Korman Frey

Name of Business: The Hot Mommas® Project
Type of Business: Role Models on Paper for Women and Girls
Web Site: http://www.hotmommas.org/
Email: hotmommas@visionforward.com

Tell us more about your business.

The Hot Mommas® Project produces curricula for dynamic female leaders. Our award-winning case studies serve as role models on paper for women and girls around the globe by showcasing not only successful business practices, but also successful personal practices including the identification of leadership abilities and work-life balance strategies. We are housed at the George Washington University School of Business.

Why did you decide to start this type of business?

1. Role models matter: Research shows that mentors and role models are critical factors in women’s success in business. Some research even shows this is the #1 factor. Why do we care? Part of the reason is that research on women entrepreneurs shows LOWER scores of self efficacy or the idea “I can do that!” Exposure to a ROLE MODEL is shown to INCREASE scores of self-efficacy. We aim to increase women and girls feelings of self-efficacy.

2. Family/Personal/Balance: Research ALSO shows that family is the #2 factor impacting women’s success in business (after role models/mentors). This is the work-life balance issue everyone keeps reading and talking about. Even if you DO NOT have kids, this category expresses the pull of obligations outside of work.* We plan to outline best practice solutions that will help women “do it all.”

3. These issues are not going away:
- 2/3 of all married couples in the US are dual income. Time is less, pressure to succeed and “do it all” is more.
- Work-life balance is a top three concern for virtually every region of the world.
- Working women/women in business serve as a major source of economic growth in most major countries. WE as women need to figure out how to make it work, and we need to help other women.

*Note: Whether you have kids, or not, your potential for an obligation as a caregiver (parents, etc.) is higher as a woman.

What makes your business unique?

Our #1 focus for women is SOLUTIONS. There is a great deal of press on the problems we face. Our cases and toolkits focus on “How can I solve this dilemma of doing it all?” Click here to check out some case examples.

Can you share with us the challenges that you have encountered related to starting a business?

Scale and focus. By “scale” I mean getting to the point where I was ready to take some risks, invest, and scale (or grow) my business. With my consulting firm, Vision Forward, I became very spoiled. Consulting can be a very cushy business and for a financially conservative person (moi) it is hard to let go of that and say, “Hey, see all of this cash? I am just going to hurl it over the fence into this new venture (The Hot Mommas Project).” I needed to be ready to invest in the business, primarily the technology (to build out the Hot Mommas Project Case Library) and people (to help make things go beyond myself, as described in Michael Gerber’s “The E Myth.”)

As for focus, people say “yes” to the Hot Mommas Project more than any venture with which I’ve been involved. This provides an interesting problem: Too many ideas/not enough time. So, focus was a big issue: On WHICH of the MYRIAD of ideas was I going to focus? I would get a mini adrenaline rush when thinking of an idea, but then a longer term confidence “blech” when I wasn’t following through on any of them.

How did you overcome these challenges?

1. Scale – Two things got me past this. They both had to do with money.
a. I was at a small women’s roundtable/social gathering. Over dinner, we had to write down a big dream or goal. Then, we had to write down our big obstacle to that dream or goal. My goal: To take the Hot Mommas Project to the next level. My obstacle: Money. The women looked at me and said, “We’d invest in your idea. Why wouldn’t someone else invest in your idea?” And, trust me, if you saw the women sitting around this table….your confidence would be boosted too. (Note: Networking, mentors, role models, actually TALKING to people and seeking out advice, keeping in touch…it all came into play with being invited to this group).

b. A ridiculous lawsuit. Okay, I’ve never publicly talked about this. My husband and I have a rule not to speak about this…but, here it is: My husband and I had to spend a really obscene amount of money because of a mistake the District of Columbia made on our building permit. They approved a permit, we built what was on the permit, and then they came back when everything was built and said “we made a mistake.” We thought the next sentence would be, “And here is how we are going to fix it.” Instead, it became a 2.5 year lawsuit which started the week I was in the hospital giving birth to my second child. While I love DC, and I love living there, and my family goes way way back there…the city is very broken in many ways. A handful of people did some very bad things. Irresponsible things, un-neighborly things…we all know these stories. Well, we were a part of one of these stories. When I was in the middle of it, and my 3 year-old son was banging his head on the wall and floor because we had nowhere to live, and we’re writing check after check to the lawyers, I thought: “What good could come out of this?” Here’s the good: The money I am spending on the Hot Mommas Project is chump change compared to what we spent on this lawsuit. In one of the most ironic twists of my life-to-date, I think one of the lowest points in my life will actually wind up leading to one of the highest points of my life.

2. Focus – I tend to go in four year cycles. 1 = lost. 2= idea. 3 = move forward with idea. 4 = really crush the idea (crush meaning “work it”…”make it happen” or other euphemism). I am pretty convinced that I just got to year 3 and something clicked. Knowing I am in this type of cycle helps me be a bit more patient with myself when I’m flailing around in years 1 and 2.

What has been your biggest success thus far?

Getting our cases published in one of Prentice Hall’s top business textbooks. It’s there, forever, and apparently this is a really big deal (I am an adjunct professor so am not fully updated like full-time and tenured professors on what is or isn’t a “big deal”). Shout out to Norm Scarborough (textbook author) who MADE THAT HAPPEN and to Prentice Hall who did not EVEN BLINK at the terms “Hot Mommas” and “Cool Daddies” as those cases arrived to them for proofing.

What is your favorite free business resource?

Alltop.com It is an IV line into some of the most brilliant minds in business, social service, education, you name it. See this for our post on low/no cost business resources: http://hotmommas.wordpress.com/2008/08/11/building-a-million-dollar-business-part-time-11-top-7-lowno-cost-stuff-to-use-in-business/

Can you share with us something that very few people know as it relates to your business?

Sure. Hmmmm. Everyone knows from our insider blog we’re addicted to coffee, and that a cup of Starbucks coffee was my first official team member. Everyone can also probably tell from my blog that we at the Hot Mommas Project are a little off our rockers. What people may NOT know is that we have been in discussions with folks in Hollywood about the possibility of some kind of show. I always set my sights on video case studies, and would be happy with that (and, frankly, can get my little brain around that more readily). However, imaginative geniuses in Hollywood have different ideas. I would be shocked if anything ever happened, but, it is fun to think about something off-the-wall and creative after being embroiled in spreadsheets and case studies for so long. I keep pushing myself to think bigger (but not lose focus). If it will help women achieve their dreams and improve their feelings of self-efficacy, I will consider almost anything.

What words of advice would you provide to others who are considering starting a business?

Take the jump. This was the hardest part for me, personally, back when I started Vision Forward and the Hot Mommas Project I remember pressing “send” on the email to my network back in 2001: “Dear Friends and Family, I have left the National Council on the Aging and am starting my own business. I am hiring a battery of part time consultants and we have our first contract at AARP helping them plan a civic service initiative. I would appreciate your keeping us in mind for leads [blah blah blah email continues].” I thought, “Wow, if I fail…everyone will sure know now.” It was like mentally jumping off a cliff.

Work smart and get out there. Don’t sit around spending 5 hours on something that a smart person could solve for you in 5 minutes. Take the 4.5 hours you might waste on B.S. in front of the computer and get out there, meet people, talk to people, ask for advice, form relationships (yes, you get partial credit for Twitter and other social media stuff). Out there with people and relationships is where everything REALLY happens. As someone who impersonated a troll for several years while I had children, trust me.

Build support systems. #1 spouse/partner, significant other. #2 Workplace/work arrangement (you’ll be the boss, so, presumably you won’t be a total ***hole to yourself, but you will need good people and clients), #3 Help at home (e.g. Get a wife). IF YOU DO NOT HAVE THESE YOU WILL HAVE A HARD TIME. Period. I had no idea when I first started my business. Hot Mommas Project research proves it. SUPPORT SUPPORT SUPPORT. As a reformed over-achiever thinking, “Oh…I’ll just do it myself,” I can tell you that the 100% self-sufficient mentality not sustainable. This is vastly oversimplified and takes practice. Maybe I’ll speak with Jennifer about doing a separate blog on how to ask for help and set up support systems. It is HARD!

Do you have any special offers for those reading this interview?

Yes! But, I am going to turn the tables: I am offering you the chance to impact the education of women and girls around the world: Be a role model. Tell us your story. What have you learned in your life and career that will help others? Start thinking about it now. You might have the chance to be published in a textbook if you win. Also, top 25 scoring cases will get $100 SEPHORA gift cards. Top winner will get an Apple TV, other cool swag + get published. Email us at hotmommas@visionforward.com and put “Pink Heels” in the subject line to be notified of the competition launch. You can make a difference in someone’s life.