Saturday, May 18, 2019

Pay Yourself What You are Worth

As more and more women take the leap from Corporate America to starting their own businesses, one of the key factors to ensure the leap goes well is to focus on having confidence.  Many women doubt themselves and their abilities.  Sometimes it just takes a couple of good pals around you to say "you can do it!" The next thing you know, you you can!

Another challenge for women who start businesses is determining what you should be paid.  Don't skimp.  If the money is there, take it, do good work, and be proud.  Here's what a SCORE volunteer mentor says:  
Simply put, women need to be paid what they are worth. A lot of times women feel like that they can’t charge enough. However, in order to be successful in business and remain profitable, a shift in thinking — and a boost in confidence — is necessary.
Read more about what is available to women-owned businesses and what is necessary to succeed in business ownership.

Photo courtesy:  Hust Wilson on Unsplash

Saturday, May 11, 2019

Women Leaders Tend to Collaborate Better than Men

Thanks to a new study conducted by Richard Devine, Gonzalo Molina-Sieiro, Michael Holmes and Siri Terjesen, we now have data that shows women-led businesses, in certain scenarios, do indeed perform better than those run by men.

In the research, the authors started by comparing how female-led companies performed in terms of employee growth versus those helmed by men.

The point of the study is not to show that female-led companies – high growth or not – perform better than men.
Rather, our [the author's] research suggests that women do bring valuable and unique skills and experience to the table that can make a significant difference to business success. Yet, given so few companies are run by women, their skills and experiences are not fully utilized.
Learn more about how women leaders tend to collaborate better than men.

Read the study:  Female-Led High-Growth:  Examining the Role of Human and Financial Resource Management

Photo courtesy:  CoWomen on Unsplash

Saturday, May 04, 2019

Surround Yourself With People Who Believe in You

Ever have a bad day?  Oh come on, who hasn't?  The important part of being faced with difficult, complicated and high-stake situations as a female entrepreneur is having the ability to face them, head on—and with strength and confidence.  Below, six brave leaders reveal the tumultuous points of their companies and how they were able to handle them and move forward.

One entrepreneur shared the following:
“Surround yourself with people who believe in you, because there will be so many times when you don’t believe in yourself.  Most of us have never started a company before, and most of us don’t come from a background where our parents can bankroll us until we figure it out,” she [co-founder  of Hu Kitchen, Jessica Karp] continued.
Read the article on how women dealt with the worst and came out stronger on the other side.

Photo courtesy Katrina on Unsplash.

Sunday, April 28, 2019

Has the #MeToo Event Changed the Way You Run Your Business?

How have you changed the way you run your business since the #MeToo event?
It’s been more than a year and a half since the #MeToo hashtag took off on Twitter, and the movement that activist Tarana Burke started in 2006 became an unavoidable part of the national conversation. Since then, discussions around workplace sexual assault and harassment are being heard in a way they weren’t before. 
Many female entrepreneurs are taking the #MeToo seriously -- definitely not sweeping it under the rug.  Here's what 5 women entrepreneurs are doing and what you can do too to keep the #MeToo issue front and center as you run your business.

Saturday, April 20, 2019

After You Work for a Genius, Can You Go Off On Your Own?

Marilyn Van Alstyne (pictured) left working for P. Diddy and started her own business, EMVE Management.  Here's how her thinking went.
“After realizing that I worked alongside Puff for 20 years, I started to think to myself, if I worked for a genius and he has built all of this, what can I build on my own?” After long days of self-reflection, Van Alstyne did what millions of people yearn to find the courage to do: She quit her job.
Keep in mind that Marilyn started working for P. Diddy as an intern and felt she had landed her dream internship.
While still in high school, Van Alstyne traveled 1.5 hours each way to the Combs Office in Manhattan. Back then Uber did not exist, and taxi cabs didn’t come to her neighborhood, so she did what needed to be done.  While only being compensated with two tokens and $5 a day, Van Alstyne dedicated her life to being one of the most reliable and respected women at Combs Enterprises.
She did it all:  answered phones, reconciled accounts, everything to grow a business.  After 4 years, she became an employee. The rest is history.  Did she have doubts before she left?  You bet.
“For a while, I’d ask myself, what if I do not make it? Now that there is no Bad Boy or Puff to lean on, can I do this on my own?” pondered Van Alstyne. 
Read more to learn what happened with Marilyn and how she shares her top 3 money lessons.

Saturday, April 13, 2019

Is Being Called a Female Entrepreneur a Label?

Being an entrepreneur is hard -- male or female.

Business owner Susan Guillory (pictured) says:
People like to create two categories for business owners: entrepreneurs and female entrepreneurs. I have never understood why the two have to be separated. 
What about you?  Do you think there is or should be a distinction between male and female entrepreneurs?  Do you find that being called a female entrepreneur is a label?

To brush up, read an old EFCA blog post (9/14/07), "Are Male and Female Entrepreneurs Really That Different?"

Read on to learn additional thoughts from Guillory on this topic, including, how to come up with your own unique style.

Saturday, April 06, 2019

Becoming Billionaires

The infographic featured in the article below shows how far women can reach with hard work and perseverance. Highlighting their accomplishments is especially important so it can inspire young girls to go after anything they put their minds to.

Read more about women becoming billionaires.