Saturday, August 27, 2016

What Leads to Success in Starting a Business?

Is the following what you are thinking?  When I started my business, it's what I thought.
Many people start a business thinking they will start making money immediately they open their doors - only to find that making money in a business is much more difficult than they thought.
Below, women entrepreneurs share basic steps that led to success in their businesses.

How successful women grow their businesses 



Sunday, August 21, 2016

Entrepreneurship Can Be a Lonely Endeavor

Entrepreneurship can be a grueling and solitary journey.  Ask some of the women who attended a recent conference hosted by Amazon in Seattle, Washington.
For the attendees who came from 43 U.S. states, the U.K., Canada and Australia, it was a rare close encounter with the company that enables their entrepreneurial ambitions but is also the hard-to-read arbiter of a ruthlessly competitive platform.
Amazon wants to personally connect with its merchants, particularly due to the Marketplace becoming one of the main pillars of Amazon's fast growth.

Read more:  Women entrepreneurs find Amazon marketplace profitable, sometimes perplexing

Screenshot courtesy:  The Seattle Times

Saturday, August 13, 2016

Top 5 Cities That Cultivate Women Entrepreneurs

The top five cities considered the best to be a female entrepreneur:
  1. New York
  2. San Francisco Bay area
  3. London
  4. Stockholm
  5. Singapore.
To make it to the top of the list, five important categories of city characteristics were identified:
  1. Capital
  2. Technology
  3. Talent
  4. Culture
  5. Markets
New York is doing something about it.
The [New York] city is encouraging women like Rita [a retired school teacher from India] to understand they are not in this alone, that there is assistance and encouragement as they move into a new business enterprise and for many, a new role in life.
Read more:  New York Program Cultivates Women Entrepreneurs

Saturday, August 06, 2016

Women Entrepreneurs Get a Confidence Boost

Is the glass half full for women entrepreneurs when it comes to growing our businesses?  We certainly hope so.  Yet, for our male counterparts, they share a glass half empty outlook.  At least that is according to the inaugural Bank of America Women Business Owner Spotlight.  Take a look:
Based on a national survey of 1,000 small business owners, BofA (BAC) found that 54% of women small business owners expect their revenue to increase over the next year, compared to 48% of men. And of those surveyed, 60% of women expect to grow their business over the next five years vs. 52% of men. 
Read more:  Female Entrepreneurs Getting a Confidence Boost in 2016

Saturday, July 30, 2016

How to Get Finance Ready

Women are also nearly twice as likely as men to rely on family members to fund their new businesses, and young men age 18 to 24 are about twice as likely to start a business as young women of that age.  What factors are at play here?  Women business owners:
  • Are more efficient with their money when it comes to launching a new company
  • Have less access to capital
  • Are wary about the financing process
True or not true?  Regardless, find out what actions you can take to get your business finance ready. 

Saturday, July 23, 2016

Entrepreneur Ivanka Trump

Ivanka Trump owns her own company.  More importantly, she wore a dress from her own label to introduce her father at the Republican National Convention 7/21/16.  According to the New York Post:
...the 34-year-old mother [Ivanka Trump] of three is putting out the message that she’s an up-by-her-bootstraps, entrepreneurial kind of gal, too.
©2016 Laurel J. Delaney.
Now, the big question becomes:  Where does she make these dresses?  I have a feeling they might not be made in the USA, which leads me to ... her father better take a more favorable position on international trade (TPP, NAFTA, etc.).

Read more:  Ivanka Trump wears her own label's $158 dress to introduce her Dad

Saturday, July 16, 2016

It's Still a Man's World in the Aftermarket Automotive Industry

Come on ... research shows that more diverse companies are more profitable.  So what gives when it comes to the old boy's network in the aftermarket automotive industry?

Women business owners have experienced this:
Several female auto business owners said it was commonly assumed they knew nothing about the industry, with customers and distributors asking to speak to men.
They go on to say:

“It is unfortunate to say, but in the field, women are not viewed as competent by their male counterparts . . . the biggest problem is not being seen as having equal intelligence with regards to the trade,” one women told Hachem [St. Clair College researcher Nour Hachem] in a focus group.

Hachem conducted a study for Automotive Industries Association Canada, which entailed surveying owners, employees and hosting seven focus groups for women in the industry across the nation.  The net result is:

Women working in the aftermarket automotive industries say it’s still a man’s world.

Hopefully these issues don't apply to Mary Barra, CEO of GM.

Read more:  Automotive industries still filled with barriers for women.

Sunday, July 10, 2016

Are You a Chicago Woman?

Chicago Woman is a magazine and media brand that speaks directly to professional women who live, work and play in Chicago. They tell the stories that empower women, while inspiring them to live their best lives, at the office and at home. Chicago Woman was created to serve as a platform for the women who are the movers, shakers and makers in the beautiful city of Chicago (my hometown I  might add :-)!

Whether you live in Chattanooga or Chicago, you'll find many of the articles featured at Chicago Woman Magazine inspiring and informative.  Here's an example.

Learn more:  Chicago Woman Magazine

Sunday, July 03, 2016

Best Beach Reads to Build Your Business

I am not a big beach reader but I love to squirrel away in my home and knock down a business book or two each week.  Everyone has to find their special place to recharge.  Inc. Magazine has put together a wonderful list of great reads for the summer.  One I'm sure to buy is Adam Grant's "Originals."  It looks fabulous.

Read:  Top 23 Business Books You Should Read This Summer

P.S.  I also just finished updating my best-selling Exporting book and the 2nd edition will be ready in early fall.  Watch for more on that coming soon!  Have a great 4th of July holiday weekend!  Oh, one more thing ...

P.P.S.  Escape From Corporate America is 12 years old on July 7th.  We launched EFCA on July 7, 2004. Yay to you for your interest and yay to us for keeping on, keeping on.  To the future!  And thank you for your readership.

Saturday, June 25, 2016

Fake It Till You Make It

It's hard to believe that women the world over running successful businesses still struggle to be taken seriously.  One woman business owner who runs Australian-based Cupcake Central says "To a certain extent, I had to fake it till I make it."  She goes on to say, "You have to sell the dream."

Whether you fake it till you make it or have a hard time being taken seriously, never give up.

Learn more great inspiring tips from women business owners: The truth about discrimination facing female entrepreneurs

Screenshot courtesy: Cupcake Central

Saturday, June 18, 2016

Leading Reasons Why Men and Women Go Bankrupt

What a sensitive topic.  Who likes to talk about insolvency whether personal or professional?  Best to sweep it under a carpet and move on.  Not so fast.  Men’s and women’s distinctively different roles in the economy reveals pronounced differences in the factors that cause them to go into bankruptcy.
The leading reasons for men to go bankrupt are job loss and business failure, while the most common causes for women are the breakdown of a relationship, living beyond their means and the loss of a partner’s income, according to a study by R3, a professional association for insolvency practitioners.
Read more:  Men and women go bankrupt for different reasons | FT.com

Saturday, June 11, 2016

Young Women Entrepreneurs Are Leading the Job Creation Charge

According to a new survey, EY Global Job Creation Survey 2016, released this week, women are creating more jobs and hiring more workers than their male peers.  The survey shows that job creation levels are even higher among younger women.

But what is even more exciting is that young women entrepreneurs, are leading the job creation charge.
Women younger than 35 expect to have an average 16 percent increase in their workforces this year, and 56 percent report they hired more new workers last year than expected. That's compared to 13 percent of young men who expect to grow their employee numbers this year, and 56 percent who hired more people than they anticipated last year.
Read more:  Women Entrepreneurs Are Creating More Jobs Than Men

Saturday, June 04, 2016

How Women Entrepreneurs Fare on Business Ownership in Kansas City

How well are Kansas City women entrepreneurs actually doing in comparison to their male counterparts on business ownership? And how does Kansas City stack up against other cities and the national average?

Read more:  Women in Entrepreneurship:  How KC Stacks Up to Other Cities

Saturday, May 28, 2016

Become a WEGG Warrior

For those of you who currently export or desire to, Women Entrepreneurs GROW Global (WEGG), a 501(c)3 nonprofit organization offers monthly webinars that are no charge on how to take your business global.  Full disclosure:  I serve as the Executive Director of WEGG so I'll be on the webinars with you.

Learn more:  WEGG Webinars  Sign up for the next one on June 8th.  Become a WEGG warrior.

Saturday, May 14, 2016

How Opening a Business Can Be Surreal

According to the Center for American Progress, black women comprise 13 percent of the female population in the United States.  Between 1997 to 2013, the number of companies created by black women nationwide grew by nearly 258 percent — and the trend is growing in Shreveport-Bossier City, Louisiana.

The [Shreveport] Times recently sat down with four black women entrepreneurs driven by past experiences, hardship and unique circumstances.

Learn more about their stories:  Four Inspirational Women You Should Know

Screenshot courtesy:  Suite 9 1 Six (the business of one of the four women interviewed in the article)

Saturday, May 07, 2016

Tips On Landing Government Contracts

Gloria Larkin (pictured) is president of marketing consulting company TargetGov and author of The Basic Guide to Government Contracting and The Veterans Business Guide: How to Build a Successful Government Contracting Business.  In addition, she is the past National Procurement Committee co-chairwoman for Women Impacting Public Policy.

Below Larkin shares two main points on how to land government contracts:
  1. One piece of paper can accomplish more than an expensive, glossy brochure by precisely pinpointing what a company’s abilities and offerings are and how they can benefit a customer.
  2. Capability statements (word-heavy documents) help create critical first impressions and define business strategy while appealing to three layers of decision-makers: Small-business representatives, contracting officers and program managers.
What not to do?  Larkin adds:
"Don’t use pretty pictures of people smiling, because they don’t say anything to your target."
Read the article:  Business owners soak up advice on landing government contracts

Saturday, April 30, 2016

Project Entrepreneur: Increasing the Number of Female-led High-Growth Companies

UBS has launched a philanthropic program called Elevating Entrepreneurs. The initiative serves under-resourced, high-potential companies by connecting them with people to help grow their businesses.

One of their initiatives is:
Project Entrepreneur, in partnership with the Rent the Runway Foundation, [which] aims to increase the number of female-led high-growth, economically impactful companies. Program elements include a venture competition, digital hub, multi-city events, and an accelerator program.” 
Learn more:  Elevating Entrepreneurs program helps under-served businesses achieve success

Saturday, April 23, 2016

Oh, No Let's Go!


Our tribute to the late Prince.  Beginning lyrics to his song, "Let's Go Crazy:"

"Dearly beloved
We are gathered here today
To get through this thing called life ..."

May he rest in peace in purple heaven.

Saturday, April 16, 2016

The Sunny Realities of What It Is Like at the Top

At the  recent Women’s Entrepreneur Festival, a couple hundred businesswomen came together to share their best-kept work secrets. The group discussed the sunny realities of what it’s like to be at the top, or at least somewhere vaguely near it.  Here are seven insider secrets they shared.
  1. Cybrids are the future. 
  2. If you want to start a business, start small.
  3. But it’s important to remember that “it’s very hard to come back from a bad culture.” 
  4. Accept that you don’t know everything. 
  5. Be able to sell your vision — not just to investors, but to everyone. 
  6. Rejection is simply information. 
  7. Kim Kardashian and Sheryl Sandberg are two sides of the same coin.