Featured Member/Ambassador for Month – Luella Schmidt // Featured Member // News // Apr 01 2016
The Doyenne Group, in our effort to raise awareness and effectiveness of female entrepreneurs in the Madison area, is creating a monthly spotlight on a local rising star. This month, come along with us in getting to know Luella Schmidt and her local business contributions.
DG: What business do you own/work for?
Luella: Fine Point Consulting LLC
DG: What is your background? What got you to where you are now?
Luella: I have a CPA and MBA and have worked as a controller or CFO for small businesses throughout my career until starting Fine Point.
DG: What made you decide to start your business?
Luella: I saw a need for this type of help specifically for funded startups and nonprofits.
DG: What is your biggest accomplishment so far in life and why?
Luella: Maintaining strong friendships that extend 20-30 years and overcoming fear of pushing myself.
DG: What is your biggest accomplishment in your business and why?
Luella: I’ve grown the business to 15 employees in 5 years. In a service business this is substantial growth with very little capital. I’m so very proud of our reputation in the community. When prospects meet with me, they have often been advised to contact us by several different people.
DG: What is the biggest obstacle that you have face while in business? What is the biggest fear that you have for your business?
Luella: I think the hardest part is happening right now. As we grow, it is more important than ever to make sure new hires fit into our culture and that they are serving our customers as well as I would do it.
DG: If you could give one quote to live by, what would it be?
Luella: “My religion is kindness” – the Dalai Lama. When all is said and done, the only thing that matters is how we treat each other.
DG: What words of advice do you have for aspiring entrepreneurs?
Luella: I think the hardest part is not underestimating yourself while at the same time understanding your true weaknesses. Personally I alternate regularly between patting myself on the back for being bad-ass followed almost immediately by a face palm at some bonehead choice I make. It’s all OK. I know I’m really good at certain things and I try to surround myself with employees and mentors who are good at the things I know I am less good at.
DG: What does Madison need to encourage entrepreneurs to stay and grow their businesses?
Luella: Hmmm, as a culture, I’d like us to be less afraid of failing. We still seem to be afraid of it in the Midwest compared to Silicon Valley. It would also be beneficial for the more established corporations in our community to spend more time and resources partnering with startups. Whether it’s making a concerted effort at becoming customers of startups in our community (and thereby becoming more innovative themselves) or offering up their expertise and guidance, it’s a perfect opportunity for a win-win.
If you would like to know more about Luella and Fine Point Consulting LLC please explore their web and social media sites! Friend, like, and share her hard work and celebrate her success with us!
Address: 16 N. Carroll Street Suite 700 Madison, Wisconsin 53703