With Park Bank | Pictured L-R: Becky Berkan and Elyse Smithback
When Becky Berkan needed the right partner to help her navigate a complex transition from co-ownership of an existing spa to launching her own practice, she turned to Park Bank.
Berkan, founder of Wilson Aesthetic Company, already had extensive health care experience as a certified emergency nurse and family nurse practitioner. What she didn’t have was an entrepreneurial background.
Park Bank’s Elyse Smithback, first vice president of business banking, helped ease Berkan’s concerns while successfully guiding her through the business ownership process.
Berkan’s Oregon, Wisconsin-based med spa opened its doors last August. The clinic offers a variety of cosmetic services designed to empower the people of Dane County to feel confident — a mission that mirrors the role Smithback played in helping Berkan navigate unfamiliar business territory.
We talked to Berkan about what women should know before starting a business.
What inspired you to start Wilson Aesthetic Company and what impact do you hope to have on the community?
I was born and raised in Oregon, so I wanted to establish a business where my roots are. It’s so important to make sure my patients feel good after their appointments. I have many first-time patients who come in feeling nervous and vulnerable. I want them to feel very safe and secure.
What helped you manage the financial uncertainty that often comes with launching a business?
You can research startup [costs] for med spas and see people saying you need $50,000-$100,000 to start — those are scary numbers. I didn’t want to overextend myself financially, so I leaned heavily on Elyse for guidance on the best approach.
It helps to have knowledgeable, supportive people you can count on.
How did working with Park Bank help shape your business?
I know health care, but I don’t know banking — so it was important to work with a bank that knew what I was about. I like that Park Bank is Dane County-focused and dedicated to serving the region. I wasn’t going to borrow a lot of money, but Park Bank helped with cash flow and guided important decisions that really helped me transition from partnership to sole proprietorship.
What money management advice do you have for female founders?
Keep your business finances organized from day one and stick to your business plan. Know your numbers, because that’s how you gauge success. Always consider the bigger picture, balancing short-term needs with long-term sustainability.
Also, don’t be afraid to ask questions!
I think that financial literacy is learned, not assumed.
What tips do you have for women hoping to start their own business?
It’s hard to start a business as a woman. If you don’t have a business background, don’t try to do everything on your own. Trust me. I can do health care. I can do aesthetics. But I needed a good banker. A good CPA. A good lawyer. You have to surround yourself with people who can support you in those areas. That’s the key to running a good business.
Local Resources for Female Entrepreneurs and Businesses
- SCORE Madison
Offers free business mentoring, small business workshops, and resources to help entrepreneurs start or grow their business. - Wisconsin Women’s Business Initiative Corporation (WWBIC) — Madison
Provides individuals interested in starting, strengthening or expanding their business with access to financial products, personal financial training and more. - BRAVA’s Women in Business Event
This annual event in September provides a fast-paced, structured environment for women in business to build connections, engage in speed networking and grow their professional network.
