Female Entrepreneurs Steal Skills From Corporate America

Put It in Writing: The financial world taught Urbach the importance of putting responsibilities and liabilities in writing, especially when dealing with a non-patented idea.

Thanks to her corporate schooling, Urbach had an edge when negotiating nondisclosure agreements with several manufactures for her product.

How to Do Due Diligence: After Smart Heel's first press release, Urbach was approached by several media companies who wanted to market her product via infomercial. "They really sold me on their ideas," she explains.

But her corporate education had taught her better.

Prior to writing any checks, Urbach did some investigative research and turned up some very uncomplimentary information about the companies. "I saved myself a lot of money and heartache," she says.

Getting the Green: As an underwriter and insurer of asset-backed securities during her previous career, Urbach worked extensively with FICO scores -- a summary of an individual's credit history that determines that person's ability to pay back a loan.

Knowing the components of the FICO score helped Urbach to better prepare information for banks when asking for a small business loan.

Fast Thinking: After eight years as a corporate attorney, Alexandra Damsker started ACD Premium Pastries.

"I spent eight years smoothing over life on behalf of clients and partners, extricating them from situations that should have cost millions of dollars," says Damsker, who entered the pastry industry as a problem solving pro, a skill that saved her from being overwhelmed by unfamiliar demands.

Marketing Skills: Starting a small business means constantly marketing yourself, explains Spence, and those with experience from the corporate world have an advantage.

Urbach's work in profits and losses at her previous jobs gave her a unique perspective on what kind of marketing works.

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