Customer Story

Tracy Irby: TWU Center for Women Entrepreneurs

TWU Center for Women Entrepreneurs by the numbers

$350,000

Total 2023 grant funding awarded to entrepreneurs who used LivePlan

Texas woman-owned business who used LivePlan to receive funding

400-500

Clients the Center for Women Entrepreneurs advises each year

Background

The Texas Woman's University Center for Women Entrepreneurs was founded in 2015 to empower women entrepreneurs across Texas. Led by Director Tracy Irby, the CWE works with hundreds of clients annually, providing business advisory services, training, and resources. The center's AccelerateHER Program offers small business grants that require entrepreneurs to complete a comprehensive business plan as part of the funding process.

"How can you get more money from your business? We get them thinking about potential, and sometimes they expand their business that way."

Tracy Irby

Program Director, Texas Woman's University Center for Women Entrepreneurs

Problem

The Center for Women Entrepreneurs faced the challenge of efficiently guiding a diverse group of women entrepreneurs through the complex process of business planning and financial forecasting. The organization needed a versatile tool that could accommodate various business types and stages while helping entrepreneurs uncover new opportunities and understand the financial implications of their decisions. Additionally, the center required a solution that could be easily integrated into both one-on-one advising sessions and group workshops.

Tracy Irby, Director of the Center for Women Entrepreneurs at Texas Woman's University, holding an advisory meeting with an entrepreneur.

Solution

Tracy and her team adopted LivePlan as their primary tool for business planning and financial forecasting. The platform's user-friendly interface, sample business plan library, and comprehensive financial tools allowed the center to guide entrepreneurs through every stage of their business journey. LivePlan's versatility enabled advisors to help clients examine different revenue streams, business models, and financial scenarios, providing a clearer picture of their business potential.

Outcome

Using LivePlan, the CWE has significantly enhanced its ability to support women entrepreneurs across Texas. The tool has helped clients think more critically about their business models, uncover new revenue streams, and make informed decisions about their operations. The platform's sample plans and financial tools have made it easier for entrepreneurs to understand complex business concepts and create realistic three-year financial projections, which are crucial for the center's grant application process. The center's success with LivePlan has contributed to its ongoing efforts to increase the number of women-owned businesses in Texas and support their growth.