In 1988, Denise Burnett, RN, BSN joined her friend Carol Paterson, who had an idea to start a specialized nurse staffing company. During the first year they worked to build their client base and nurse base, but were taken off course when Carol was diagnosed with cancer. In 1990, Carol passed away and Denise became President and owner. Denise has been widely recognized for her success in achieving the vision for O.R. Nurses, Inc., which is “to assist our client with uncompromising quality patient care, by providing medical professionals who demonstrate excellence in temporary staffing, and doing so in the most cost-effective manner that benefits both the client and the patient”. Today O.R. Nurses, Inc. demonstrates the core values of Integrity, Clinical Excellence and Professionalism in providing temporary healthcare staffing locally, regionally and nationally.

Entrepreneur path tougher for females
By James Dowd
Memphis Commercial Appeal

Although Denise Burnett loves her role as leader of one of the largest female-owned businesses in the region, she’s quick to note that being the boss is often a lonely job.

In addition to the inherent struggles of starting a business, female entrepreneurs often face gender-based obstacles that make running a successful company even more difficult.

Instead of becoming overwhelmed by the odds, Burnett said women should tackle challenges with integrity, professionalism and a commitment to excellence.

She speaks from experience, as the president of OR Nurses Inc., a small outfit she joined in 1988, a month after it was established by her late business partner, Carol Paterson. After Paterson’s death from ovarian cancer in 1990, Burnett assumed ownership of the company and guided it to a national presence.

Today, the company has grown to more than 300 health care professionals and corporate workers in nearly two dozen states.

“As a female in the business world, it can be difficult starting out and there may be those along the way who tell you that you can’t do it, that you won’t succeed,” Burnett said Thursday at the monthly meeting of the Society of Entrepreneurs. “There will be times when you’ll have to stand up for yourself and believe in your abilities, which can be daunting if you’re in a male-dominated industry.”

To facilitate success, Burnette said entrepreneurs must be willing to work harder than everyone else without compromising their standards.

And even though it may involve more effort at the onset, taking time to do a job right the first time will pay off both professionally and financially.

“Cutting corners for short-term gains just isn’t worth it,” Burnett warned. “Ultimately, your business rests on your reputation, and once you tarnish it you may never recover from it.”

That’s solid advice, said Karen Shea, principal of Shea Wealth Management.

“It’s not fair, but some people hold female-owned businesses to different standards from male-owned ones, so there’s an increased level of having to prove yourself,” Shea said. “It’s important to establish your reputation as top-notch from the start and prove that you can compete with the best of them.”

To balance all the hard work and sacrifice, Burnett said every entrepreneur should have at least one mentor to turn to for guidance and support. Also, making time to engage with other business owners can be the key to survival.

Toward that end, Burnett advocated joining peer groups. As a member of one of the Society of Entrepreneurs’ insight groups, Burnett regularly shares professional issues with other members at monthly meetings. It helps, she said, to get feedback from business owners facing similar issues and also to realize that she’s not alone.

“We can share our success stories as well as our failures and support each other through it all,” Burnett said.

“It’s a survival tool.”

– James Dowd: 529-2737

Apply to join an Insight group

Denise Burnett

Winston Wolfe

Spence Wilson was also awarded the 2010 Master Entrepreneur Award, jointly presented by The Society of Entrepreneurs and Junior Achievement of Memphis and the Mid-South.

At the meeting of the Entrepreneurs Roundtable on Thursday, April 22, 1010, recording industry legend, Al Bell, shared the following poem.  The poem certainly reflects a true entrepreneurial spirit!

It Couldn’t Be Done

Edgar A. Guest

Somebody said that it couldn’t be done,
But he with a chuckle replied
That “maybe it couldn’t,” but he would be one
Who wouldn’t say so till he’d tried.
So he buckled right in with the trace of a grin
On his face. If he worried he hid it.
He started to sing as he tackled the thing
That couldn’t be done, and he did it.

Somebody scoffed: “Oh, you’ll never do that;
At least no one ever has done it”;
But he took off his coat and he took off his hat,
And the first thing we knew he’d begun it.
With a lift of his chin and a bit of a grin,
Without any doubting or quiddit,
He started to sing as he tackled the thing
That couldn’t be done, and he did it.

There are thousands to tell you it cannot be done,
There are thousands to prophesy failure;
There are thousands to point out to you one by one,
The dangers that wait to assail you.
But just buckle in with a bit of a grin,
Just take off your coat and go to it;
Just start in to sing as you tackle the thing
That “cannot be done,” and you’ll do it.

Members of the panel were:

Andrew Forsdick, Addison Capital Advisors
Gordin McMurtry, Paragon National Bank
Andrew Seamons, Pittco
Ken Woody, Innova

The panel was be moderated by David Waddell, Waddell & Associates.

But a group of local business leaders hopes to change that perception and in the process transform some great local ideas into viable, successful businesses. The first step in doing so is bridging the gap between the creatives and the capitalists.

“There’s no shortage of people with solid business proposals, and there are numerous sources where they could seek funding,” said David Waddell, president, CEO and senior investment strategist of Waddell & Associates. “But there’s a disconnect between the people with the ideas and the people with the money. We’re trying to help both sides get to know each other.”

Waddell served as moderator at a Thursday forum on funding for startups sponsored by the Society of Entrepreneurs and held at EmergeMemphis.

Serving as panelists were Andrew Forsdick of Addison Capital Advisors; Gordin McMurtry of Paragon National Bank; Andrew Seamons of Pittco; and Ken Woody of Innova. The sold-out event attracted more than 50 area entrepreneurs.

“You’re sick and demented to want to start a business in these times,” Waddell joked, “but you’re also beautiful, brave people who drive our economy. Memphis has a rich entrepreneurial history, and that spirit permeates all of you.”

But while many local banks and investors are interested in funding startups, too many would-be moguls don’t do enough research before they seek financing, the panelists said.

And that can make the difference between a done deal and no deal.

For example, research the lender or investor before seeking financing.

“Banks don’t invest in startups the same way other investors do. We look for active capital and cash flow because we have to know how we’ll be repaid,” McMurtry said. “It’s important for us to see a solid business plan, so make sure you have all that before you come in.”

In addition, it’s good practice to develop a prototype and be prepared to explain production costs if necessary, Woody said. Bootstrap as much as possible, know how much — or how little — financing is needed and don’t vary significantly at either end of the spectrum.

And by all means, temper idealism with realism.

“When people come in and say there’s nothing in the world like their business or that they don’t have any competition at all, they’re usually wrong,” Woody said. “Also, if there are any problems, be honest and don’t try to slide the idea by and hope that we won’t catch it, because when you’re starting out, your credibility is all that you’ve got.”

Seamons agreed.

“You’ve got to know more about your plan than anybody else on the planet, be passionate about it and acknowledge any issues,” Seamons said. “Connecting with venture capitalists who have had good experiences in your field is another way to increase the chances of financing.”

The bottom line, the panelists agreed, is being prepared and persistent. If the idea has merit, eventually someone will take notice.

“Comparing it to the NCAA, where very few college players make it to the pros, you have to determine what it is about your company that will set you apart,” Forsdick said. “There are a lot of awesome ideas out there, so figure out what makes you different from everyone else and sell that.”

– James Dowd: 529-2737

Society of Entrepreneurs upcoming event

What: Roundtable Lunch and Discussion

When: Noon, April 22

Where: Memphis Music Resource Center, 431 S. Main, Suite 201

Cost: $25, lunch included; must register by April 19

Details: Call 682-9920 or send an e-mail to pearson@soememphis.com

From The Commercial Appeal 3/19/10

The Church Health Center , Executive Director

As the first non-profit member of the Society of Entrepreneurs, Dr. Scott Morris is an example that the entrepreneurial spirit is not limited solely to capitalistic ventures. He is founder and executive director of the Church Health Center, which opened in 1987 to provide primary health care to the low-income, uninsured working people of Memphis. The center, a health care ministry supported by the faith and medical communities, averages 30,000 patient visits a year. In January 2000 the Hope and Healing Center was opened as a part of the Church Health Center to provide a state-of-the-art wellness facility that combines the wisdom of disease prevention and the experience of health professionals with the love and encouragement of the faith community.

William H. West, M.D.

The West Clinic, Chairman Emeritus
The Prevention Group, Chairman

A graduate of Harvard College and Johns Hopkins School of Medicine, Dr. West is board certified in internal medicine and medical oncology. He is founder-emeritus of the West Clinic in Memphis, TN, one of the largest cancer treatment programs in the southeast, and has published numerous articles in the peer-reviewed medical literature. Dr. West has a career long interest in health care delivery systems. He brings a valuable perspective to screening and prevention as Chairman and Principal Investor of Lifesigns.

By James Dowd

Friday, February 19, 2010