Worcester’s Women Entrepreneurs: Vanessa Costa
Wednesday, April 10, 2013
Building local business and giving back to Worcester: entrepreneur Vanessa Costa.
“To see the final result with JetBlue announcing service to Worcester was very rewarding for us," she says.
Vanessa is principal and co-founder of Worcester-based Advantage Benefits Group formed in 1992 with her husband, Bill Randell. Proud of her status as an experienced professional and entrepreneur for the past 30 years, Vanessa cites her father, an accountant by trade, as inspiring fiscal responsibility and technical expertise at a young age. Thanks to this early introduction, she has grown a lucrative business in the insurance and financial services industry ensuring healthy lives one client at a time.
Advantage Benefits
Advantage Benefits works closely with small, family-run businesses. They ease administrative HR burdens for small business owners by expertly managing employee benefit plans in what some call a bewilderingly complex health, dental, and life insurance market. The family prides itself for helping find the best plan at the best price and ensuring its compliance with State and Federal regulations. Vanessa spends most of her time working daily with existing clients.
“There are ongoing insurance and human resource issues to resolve," she says, "and clients depend upon us to remedy issues on a timely basis. It’s so much more than just getting quotes once a year, it’s about relationships and knowing that your clients trust you.”
Vanessa notes that while the insurance industry has its share of complexity and fast-paced change, running a small business also poses unique technical challenges to overcome, especially when her company does not have an IT staff.
“We’ve had to learn as we go," she says, "when something goes wrong with your computers, in today’s age it really disables you.”
Embracing technology
Vanessa advises business owners to learn to use new technology as it comes available as it is a great investment for small businesses to increase efficiency.
“My iPhone and iPad are always with me,” she explains, “and when I am out of the office all day on appointments it has become a time saver.”
In addition to technology, Vanessa says marketing has also changed rapidly.
“When we first started," she recalls, "our primary way to look for new business was direct mail and cold calls.” To meet the challenge of spreading the word in today’s dynamic market, “we’ve embraced social media and email marketing programs.”
Despite some hardships, Vanessa says she has grown from her obstacles. One of the biggest things Vanessa has learned on the job is “how over time you become more at ease and patient when problems arise. In the beginning I used to worry about everything, now I understand that problems occur almost daily and things eventually workout.”
After many years in business, Vanessa is especially proud of two things. First, that most of her clients have been with Advantage Benefits 10 plus years and, second, “I am very proud to have built this business with my husband. We share our entrepreneurial spirit with our daughter and demonstrate daily the benefits of hard work, commitment and dedication.”
Giving back to Worcester
In addition to taking pride in her profession, Vanessa is dedicated to giving back.
“My husband and I grew up in Worcester, and we have chosen to build our family in Worcester County,” she says. “Not only do we want to be a resource for other Worcester businesses when it comes to employee benefit plans, but we also enjoy giving back to the community.”
When not helping clients, you will likely find Vanessa practicing her golf swing on the local greens.
“I learned the game when I was young and became captain of my high school men’s golf team,” she recalls. “Today I play with my husband and daughter, but unfortunately my body won’t let me recapture my former self!”
As for her advice to other young women thinking about entrepreneurship?
“My advice is to go for it. Women have to do it all today, manage the home, children and office. There is always risk in starting something new, but it is definitely worth it. It’s important to have a plan and set goals for yourself. Don’t be afraid, and don’t be afraid to make mistakes. That’s how you learn.”
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