She Owns It

Celebrating, Connecting, and Supporting Women Entrepreneurs

Entrepreneurship After 50: Courage or Insanity? by @wendykrichards

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If you want someone to hire you after your 50th birthday, you may need look no further than the reflection in the mirror.

The smile on my face was beginning to head south and I knew it was time to make a run for the door. I was attending a luncheon with a large group of women 50+ whose lighthearted conversation was totally out of my comfort zone. About to make my excuses, someone finally asked a question that caught my attention and deserved an honest answer. Sitting back down and rubbing my hands together to dive into an interesting debate, I was in the mood to be the nay in a room full of yeas.

The Question

I decided raising my family was more important than a career. So I temporarily put my plans on hold until the kids were old enough to fend for themselves. Is it too late to go back to school, complete my education and apply for work?

This woman did what many of our generation were told we were supposed to do. Her question was relevant and to be taken seriously. Unfortunately, what she received were platitudes.

Of course! You’re never too old to educate yourself or start a new career. What a great idea!

The Bad News – Ageism

I decided to play the devil’s advocate and tell this woman the truth. No, it was not a good idea. Not if that education was in order to get hired. Face it lady, you are too old. Take a look around at job sites such as Indeed, Glassdoor and Workopolis and sift through jobs for older workers. It shouldn’t take long to find that Walmart greeter position.

Age discrimination is alive and well in North America. No one is going to hire you. You will hear excuses such as: you are over-qualified, you’re not a good fit, we’ll get back to you. Hilarious – they won’t. Take a look on LinkedIn for photos of “meet our new team”. How many faces do you see over 45 besides the owner?

What those HR recruiting algorithms are telling you is that you are over the hill and too much money. They are looking for two 20-somethings at half your expected salary.

The Good News – Why are You Applying for Jobs to Make Someone Else Rich?

Are you feeling brave? Have you considered taking all that life experience and work ethic and employing yourself? If so, consider joining the club of crazy entrepreneurs! At your age, you probably have a pretty good idea of what you want to do (baker, home stager, barber, dog trainer) and willingness to pore yourself into your passion.

“You are never too old to set another goal or to dream a new dream.” ~ C.S. Lewis

I’m a Late Bloomer. Until I was in my 50s, I worked at jobs I had no passion for but paid well enough to raise my kids. When the time came for them to fly the coop, I did too. I disengaged my life’s autopilot and decided it was time. There was no shortage of well-meaning friends telling me I might be a touch too old as they looked forward to retirement in warm places. What they didn’t know is I’d spent all my money raising kids and didn’t have two cents to rub together. So ignoring their kind advice, I formed a plan.

“…Two roads diverged in a wood, and I—

I took the one less traveled by,

And that has made all the difference.”

~ Robert Frost

With one credit card to my name, I borrowed money to go back to school to become certified in tourism, took every available free and not so free on-line course, researched destinations, tours, hotels and suppliers, and reached out to anyone who could help me get into the business. I attended networking events, spent my own money to travel to trade shows, and read industry magazines on the bus to and from work.

There were days I thought I was out of my mind. So I would ask myself this question: If I don’t do this, what were my options?

  1. I live no better than I am today, keep buying lottery tickets and eventually die.
  2. I keep going and see if I can create some magic. What did I have to lose?

Fast forward 10 years and I now consider myself pretty successful as an independent  Virtuoso luxury travel consultant. Over time, I narrowed down my niche and love what I do. I also find time to write articles, blogs and get started on my book. But more importantly, I work for and love my boss – me, myself and I. The sounds emanating from my home office consist of chirping birds in the tree outside my open window. What a life!

The Bottom Line

I recommend you start by reading Jane Park’s insightful article published in Forbes.com Are Entrepreneurs Really the Happiest People on Earth? It might help you decide if you’re up to the task.

So how much do you really want success after 50? It can take a year or 10 before things click. Being an entrepreneur is not for the faint of heart. Be careful – you are about to find out the stuff you are made of. For me, I learned more under pressure about courage, people, business and what I am capable of. My life is still an adventure in progress but it sure beats busting my butt making someone else rich.

 

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There’s Something You Should Know Before Becoming an Entrepreneur by @Lilyalexblog

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There's Something You Should Know Before Becoming an Entrepreneur

by Bianca Oliva | Featured Contributor 

Entrepreneurship is a loaded word. Some make it look easy; flaunting successful businesses, nice cars, and drool-worthy Snapchat stories. Success doesn’t just happen. It takes hard work, never ending hours, and a lot of preparation.

But there’s a few things you need to know before embarking on the journey…

You don’t need to be a jack-of-all-trades

There’s a common misconception about being an entrepreneur; you have to know and do everything. I’m sure its useful to be versed in sales, marketing, bookkeeping and everything in between… but you can only wear so many hats at once. Don’t be afraid to branch out and learn new things. Just remember to focus your energy on what you’re great at, and what you love.

There’s always homework to be done

This may seem to contradict my first point, but hear me out. There’s always something to learn. Being an entrepreneur means being prepared to educate yourself and stay up to date on current trends and developments in your niche. If you thought homework ended in college, you’re in for a surprise. But don’t worry! This time, it’s a lot more fun.

Its not just helpful to network… its necessary

When I began stepping out of freelancing and moving on to start my own business, I wasn’t quite aware of how important it is to network. Not only does networking allow you to get a new perspective on your industry and target audience, but it gives you a chance to learn from the successes and failures of others. I’ve yet to come across a successful entrepreneur who was unwilling to share their story, or at least some good advice.

The road to success is littered with failures

This one of hardest truths to understand and accept, especially if you’re someone with an entrepreneurial mindset. You’ll fail many times before you succeed. Minor failures along the way are guaranteed. Whether you choose to continue on to reach the success waiting for you at the end, is up to you. As Oprah Winfrey once said; “Failure is another stepping stone to greatness.”

Every lesson is an opportunity

Just like every failure is lesson, every lesson is an opportunity to grow and evolve into a stronger and more successful you. Not to be cliche here, but carpe diem! Seize the day and each moment in it. There are

Entrepreneurship is not an easy journey. Its full of blood, sweat, tears, and sleepless nights doing anything and everything we have to do, in order to keep ourselves and our businesses running. But it’s worth it to know that every day we get to live the lives we want to; on our own terms.

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Building Your BossBabe Support Group

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Photo by Chris Murray on Unsplash

by Susan Fiorentino

Post college, finding a supportive group that fit my professional needs was difficult for me to find. I attended a very small college, where all my social and support circles where in one bubble. When I needed help with a paper or advice on applying for internships, my advisor and the Career Development Office was an email or quick walk to campus. I realized that finding support for my big dreams was going to take more than staying in my small bubble because that comfort no longer existed. It has been almost 7 (!!!) years since I graduated from Manhattan College and following these five steps has (over time) helped me get through some difficult personal and professional times.

My hometown friends and college friends were in the same position as me. We were (and still are) trying to find our place in the professional world. We kept in touch for a while but after some time, some friendships just fall apart. This could be simply because of location or interests. Luckily, I have an extremely supportive family who always supported my goals. Friends will slip in and out of your life but family (hopefully) will be in your corner to always support you.

During college, I had an injury that forced me to give up one of my favorite things, cheerleading. Working out was put in the back of my mind after that. After being so tired all the time and feeling unmotivated applying to jobs, I thought working out again could help me. Playing sports my whole life, I knew group fitness was more of a fit for me for long term results versus a regular gym. I stumbled across Kettlebellas and have been hooked ever since. For the past five years, I have been taking classes there sometimes 5 times a week with three of the best trainers and supportive group of women. Being around supportive women is very difficult to find, but this place has saved me so many times from doubting myself, body image issues, and other things that come up day to day. It didn’t take long, I noticed the more I committed myself to getting to the gym, the better I felt and looked. When I am mentally fit, I perform better at work, strive better personally, and am more motivated to handle my busy schedule. It may take time, but finding a supportive fitness group (in person or an online community) will have a huge benefit to helping you complete your goals.

While studying at Manhattan College, I knew I wanted to be a part of the non-profit world. I grew up and live in Staten Island, which is a very tight knit community. It is a small community with an even smaller and overlapping network in the non-profit field. In fundraising, there is a strong emphasis on relationship building so that is something that even today, still sticks with me. Even though I have had a few jobs since graduating, I still keep in touch with volunteers and/or former co-workers. Relationships are ever evolving and we have been able to help each other reach our goals even after we parted ways at other jobs. Changing jobs in a small community, but in the same field, taught me some valuable lessons such as not building bridges and keeping positive even in difficult work conditions.

Friends come into your life for specific reasons and those who meant to stay will remain. In my late 20s, I have found it harder to connect with new friends, but going back to my previous support groups has always lead me to ways to find new friends that I can build relationships with. I have reconnected with friends that I have known since pre-school, through the gym, attending fundraising and networking events, and just being in a small town.

However, the most important person in your support group is YOU! Your support group can motivate you daily, but without confidence and drive within yourself, then it means absolutely nothing. As a recent college graduate, I knew I had the skillset to make it in the “Real World” but hearing no (or no response at all) after job applications or interviews, hit my confidence. I constantly pushed myself forward and kept my goals in mind. If it had not been for my support group reminding me that I have the skills needed to succeed, then I pushed myself even more. It has taken some time, but I am finally at a job where I am also to combine three of my (and very different) interests and then freelance and volunteer on the side. I am glad for the struggle I had after college because it makes me appreciate this success so much more. Celebrating my mini victories over the years has rebuilt the confidence I did not have when first applying to jobs.

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9 Female Entrepreneurs on the Biggest Obstacle They Faced by @mere_wood

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by Meredith Wood 

For many women who start their own business, their venture is everything—according to SCORE, 62% of female entrepreneurs say their business is their primary income. This isn’t a hobby and it’s crucial that they succeed.

From navigating the nature of meetings to the struggle to be taken seriously, female entrepreneurs face obstacles that are sometimes beyond the typical roadblocks to success for business owners.

A major part of overcoming obstacles is knowing what to expect. Here are stories from nine women on the biggest obstacle they faced when starting out.

Note: These responses have been edited for length and clarity.

 

A lack of network within the entrepreneurial community

“When I got the idea for the business in 2016, I had established a fantastic network as a personal assistant as well as in advertising, but I needed mentorship and support in how to grow a tech and service startup.”
—Valerie Donohue, founder of ChatterBoss

 

Setting boundaries for professional meetings

“I view every meeting I have as professional but I have experienced the opposite when interacting with male clients, investors, or potential partners… I learned how important it is to set boundaries. After a while, people will learn what they are and only come with serious offers.”
—Ladan Davia, founder and CEO of Beeya

 

The opinions of friends and family

“Society tells everyone they have to go to school, get a 9-5, work until retirement age, then collect Social Security. If you try to break the mold, people will tell you it is dangerous, risky, not possible, or something that should not even be tried.”
—Stacy Caprio, an online marketer, designer and growth expert

 

Being taken seriously

“I live in a conservative area, and I often felt that other business leaders (typically men) thought it was ‘cute’ that a woman was ‘playing at business.’ I’m stubborn and don’t accept discrimination, for myself or for my employees, so I managed these experiences by excluding them from my business practices and hustling every day to show that I was a serious businesswoman. Several years later, when I hired my female developer as I scaled and received comments from male clients regarding her good looks, I immediately fired them. I am protective of my own boundaries, but am even more so for the employees I spend time and money to train and who trust me to support their careers.”
—Veronica Kirin, author, speaker, and coach to LGBTQ entrepreneurs

 

My confidence

“I was so sure I had something great, but the way I talked about it delegitimized my business. I made it sound like this little side project instead of this thing that I work on day and night and have grown out of nothing. Women are taught to couch their successes and to not act confident. And even though in my head I knew what I had was great, I had the hardest time talking about it and really selling it. I had to change my language, and as soon as I did that everything changed.”
—Julia Nusbaum, creator and curator of HerStry

 

A lack of funding opportunities

“98% of funding goes to male founders, yet incubators and angels continue to court women with the promise of investment but who have a statistically zero chance of getting it. And we play along because we don’t know… Because no one pays attention to the fact that even female founder funds give women-owned companies proportionally less money.”
—Paula Muto, CEO and founder of UBERDOC

 

Not knowing when to take the leap

“My co-founder and I were self funding the beginning of the company and we always struggled with the ‘dance’ between when you need to quit your full time job in ordering to allocate the right amount of time to help your business succeed, while also balancing the fact that we both needed an income to order to live. Because of this struggle, we never fully made the job into quitting our full time jobs and I were speculate that played a part in our lack of success.”
—Hannah Stoppelmann, co-founder of Suit and Sweet.

 

Juggling children and entrepreneurship

“I think a huge obstacle (and blessing) for me was learning how to juggle having one child, and then two, while still getting everything done. Waking up earlier and nap times were my times to hustle. I think time management is huge. I learned that most of my work I get done after I drop them off at school in the mornings. That first hour or two is golden.”
—Karina Michel, owner and producer, Tallulah Films

 

Defining my ideal client

“When I began coaching, I took anyone who would pay me because I felt desperate for the business. But I quickly realized that some clients energize me more than others. I made a decision after the first year to be more selective in choosing who to work with. I now turn down business because I know I am not a good fit… My business doubled once I got clear exactly who I was marketing my services to.”
—Claire Pearson, life coach

 

***
Some obstacles are external, some are internal; some are specific to women in business. If you’ve faced anything like the problems above, know that you’re not alone. Overcoming barriers is part of the entrepreneurial journey, especially for women.

 

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Meredith Wood is the Editor-in-Chief at Fundera, an online marketplace for small business financial solutions. Specializing in financial advice for small business owners, Meredith is a current and past contributor to Yahoo!, Amex OPEN Forum, Fox Business, SCORE, AllBusiness and more.

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4 Tips for Aspiring Women Entrepreneurs Eager to Start a Business by @myjoyorganics

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by Joy Smith

More than a decade ago, it was rare to see women entering the business world and embark upon the challenging entrepreneurial journey.

However, times have changed and presently women are at the helm of reputed businesses across the globe. According to the National Association of Women Business Owners, America has nearly 12 million women-owned businesses, employing nine million people and generating a revenue of $1.7 trillion.

In fact, numerous ambitious women are starting to assert themselves in fields like the STEM (science, technology, engineering, and mathematics), banking, healthcare, and fashion and beauty.

One of the most prominent examples is the representation of women in the cannabis industry. Statistics reveal that over 36 percent of all executive-level positions in the industry are held by women who are passionate about marketing organically-grown hemp CBD oil to the masses.
If you are passionate about being your own boss, the effective tips shared in this post will help you launch and scale your venture, allowing you to realize your career goals.

1. Be Prepared to Impress Venture Capitalists

The uncomfortable truth about entrepreneurship is that it has always been male-dominated. This can be particularly challenging when raising capital for your enterprise as venture capitalist firms tend to hold women entrepreneurs to a higher standard in comparison to their male peers.

Though the scenario is slowly changing in favor of women, presently 94 percent of the decision-makers at venture capitalist firms are men. Further, merely three percent of all the venture capital in the U.S. is being directed to women-led firms. Thus, with men controlling the vast majority of capital, women may find it tough to impress venture capitalists and find funding options for their startup.

Venture capitalists expect to invest in compelling business ideas that have a huge market opportunity, thereby promising them a lucrative return on investment. Moreover, they are looking for dedicated, passionate, and coachable entrepreneurs who are not afraid to take risks.

Before cold-calling for capital, it is wise to research on venture capitalists who would want to invest in your idea. Connect with them on LinkedIn and Twitter and introduce yourself to them. Join business hubs, incubators, and accelerators that can connect you to venture capitalists and help you enhance your reputation in the industry.

Does the venture capitalist follow some industry influencer? If you are able to make an impression on the person who influences your prospective VC, you can easily impress the latter.

2. Look for Mentors

An effective mentor who is experienced in your field can help you launch and scale your venture, propelling your startup towards success. Above all, experienced women mentors can help you respond to blatant gender bias.

Make sure you have multiple mentors so each of them can offer advice based on their individual expertise and enable you to overcome the practical and emotional challenges faced by aspiring female entrepreneurs.

Join professional women’s networking groups like Women in Business Network (WIBN) and Meetup that support women-owned ventures and connect you to industry influencers and prospective mentors. Online mentorship networks like Find a Mentor are dedicated to pairing budding startup founders with potential mentors.

If you still find it challenging to come across a worthy business mentor, surround yourself with a value-adding board of advisors, who can guide you with the major business decisions and lead you to prospective customers and investors.

Furthermore, it is important to give back the knowledge you acquire. Remember the challenges you faced and volunteer to help other budding women entrepreneurs navigate the entrepreneurial path by mentoring them.

3. Learn to Respond to Condescension

During your entrepreneurial journey, you will be often spoken to like a secretary, even though you run the show. Although times are changing, the chances of you meeting a chauvinistic client, investor, or competitor who believes in outdated gender norms is quite high.

As a startup founder, you are in a client-facing role; hence, you cannot afford to feel humiliated or abandon your stakeholders for their biased attitude. Instead, learn to respond to arrogance in a way that asserts your professionalism.

Likewise, you will come across people who will underestimate your professional abilities and chances of making it big in the industry. Instead of feeling bogged down, put in maximum effort to prove the crowd wrong. The idea of creating a successful startup in a world full of baseless gender-based assumptions is a completely entrepreneurial thing to do.

4. Remember: The Key Entrepreneurial Traits Aren’t Male or Female

We have often read articles or hear industry influencers say that men are better at negotiating and leadership, whereas women excel at communication and listening. Though several such entrepreneurial traits have been labelled as male-or-female-oriented, they actually belong to both genders and are critical to entrepreneurial success.

Identify the common entrepreneurial traits relevant to your industry and work towards developing them. For instance, if your business requires you to meet vendors and negotiate the cost of material, you should develop the art of negotiating in order to network and strike a profitable deal.

Women entrepreneurs across the globe are overcoming the challenges of starting a new business and proving that their skills can build a profitable venture in the male-dominated business world. If you aspire to catch up with the changing tide of women entrepreneurship, use the tips shared in this post to navigate the entrepreneurial path and scale your business to success.

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Joy Smith is a speaker, mentor, entrepreneur, mother of four, and grandmother of six. After trying a number of poor quality CBD products, she teamed up with her family to develop an organically grown, full spectrum hemp oil to help people who suffer from a wide array of ailments. Visit Joy’s website to learn more Joy Organics.

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The 4 Best Cities for Women-Owned Businesses

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by Haley Kieser

While raw employment numbers have fluctuated wildly over the last ten years, the number of women who own their own businesses has continued to rise. Between 1997 and 2007, the number of female entrepreneurs in the United States grew from 5.4 million to 7.8 million. It’s now 2017, and today that number is estimated to be closer to 11 million. In other words, since 1997, the number of women-owned businesses in the US has more than doubled.

Furthermore, women-owned businesses are also growing faster than the national average. Since the great recession, the US job market has grown by a measly 1%, while women-owned businesses have grown by a whopping 18%. That said, opportunities for women differ greatly from city to city. If you’re looking for new opportunities for yourself or your business, consider these four stellar cities for women-owned businesses.

Gold — The Best City in the North East
The first city on our list should come as a surprise to no one. As the largest and wealthiest city in the country, New York is officially the best city for female entrepreneurs. In 2012, female entrepreneurs in New York received more than 140 loans from the US Small Business Administration. These loans totaled $42,281,500 and exceeded the amount given to every other state in the country. Many first-time entrepreneurs struggle to amass the necessary capital for manufacturing, inventory, and marketing. As such, these small business loans represent the tremendous opportunities available to female business owners in New York City. That said, a business loan is only the first step toward success.

Thankfully, New York’s female entrepreneurs know how to carry out their business plans. During the same time period, New York’s women-owned businesses brought in more than $104 million in revenue. If you’re thinking about doing business in New York, consider visiting one of the many resources available to female entrepreneurs and business owners, including the New York SBDC and the Women’s Business Center of New York.

Silver — The Best City in the South
Without further adieu, the best city in the south for female entrepreneurs is… actually a tie. Until very recently, Houston was without a doubt the best city for women-owned businesses. At a state level, Texas had the highest growth rate for women-owned businesses, and at a city level, Houston received a large number of SBA-backed loans. However, this legacy has been up in the air since Hurricane Harvey made landfall in August of 2017. This massive storm dumped nearly 52 inches of rain on the Houston metro area and is expected to cost more than $190 billion to repair.

That said, the runner up for best city in the South is Atlanta, Georgia. Like Houston, Atlanta also has a high growth rate for women-owned businesses, and in 2012 the Small Business Administration granted more than $18 million to 19 female entrepreneurs. Last, but not least, Atlanta’s women-owned businesses also reported nearly $30 million in revenue during the same time period. Atlanta’s top five industries are agriculture, film, energy, automotive, and tourism. Resources include the National Association of Women Business Owners and the Women’s Entrepreneurship Initiative of Atlanta.

Bronze — The Best City in the Midwest
While the first spot was a relative no-brainer, the midwest isn’t quite as predictable. Step aside Chicago—the best city in the midwest for female entrepreneurs is actually Columbus, Ohio. In 2012, women-led firms were granted more than $4 million in SBA-backed loans and made more than $42 million in revenue. Columbus has also been called the best city in the country for working mothers. This is all thanks to a low cost of living, a low unemployment rate (4.2%), a great school system, and short commutes. That’s not all, though.

Columbus even has a growing tech industry. One of the driving forces behind this trend is the Battelle Memorial Institute, a massive research center that works with several government organizations, including the United States Department of Energy. This influx of federal dollars also supports a variety of private women-led tech businesses. Popular resources for female entrepreneurs include the Women’s Small Business Accelerator of Central Ohio and Tech Columbus.

Honorable Mention — The Best City in the Southwest
Now, let’s turn our sights west of the Mississippi River. In the southwest, Denver, Colorado takes the title of “best place for female entrepreneurs and women-owned businesses.” Boulder, one of Denver’s largest suburbs, actually contains the highest concentration (4.2%) of women-owned small businesses in the entire country. It also receives more SBA-backed loans per 100,000 residents than any other city. As a whole, the Denver metro area isn’t far behind. 3.22% of Denver-based businesses are owned by women. In addition, the female to male earning ratio is also higher than average at 87%. Resources include LifeCrafters Consulting and the Women’s Business Development Center.

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I’m Haley. I love the hustle. GSD is my motto. It is important to me that women strive to inspire each other.

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15 Woman Owned + Made In The USA Companies

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Woman Owned + Made in the USA Companies

by Melissa Stewart

Happy Birthday America!

What better way to celebrate the 4th of July than to honor some of the amazing women entrepreneurs who are living their American dream and keeping their products MADE IN THE USA.

Before you fire up the grill and shoot off those fireworks, check out these firecrackers who are lighting up the business world with their woman-owned + made in the US of A companies!

  1. Alex and Ani
  2. Tutublue
  3. Duobed
  4. Natalie’s Orchid Island Juice
  5. Fun Bites
  6. Womanswork
  7. Pacific Domes
  8. The Tote Buddy
  9. Sarah Oliver Handbags
  10. R. Riveter
  11. Karen Kane
  12. Devine Beauty
  13. TLS Custom Furniture
  14. Organic Comfort Zone
  15. Bold Lead Designs

Do you know of a company that is supporting our economy by keeping their products “Made in America” and providing much needed jobs? PLEASE share a link in the comments below.

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Five Traits Most Successful Businesswomen Have In Common by @toninelsonbiz

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Five Traits Most Successful Businesswomen Have In Common

by Toni Nelson

Whatever path you choose you must cultivate and develop certain traits in order to become successful.

There are 5 traits that are the foundation for a successful life.

Successful Business Women copy

Self Believe

You need to believe in yourself wholeheartedly.

No matter what challenges or obstacles come your way believe that you can face them head on.

Passionate

Passion is the most important thing that keeps a person moving forward. When you have passion it acts as a driving force in spite of any obstacles you may face.

Adaptable

It’s really important that you are adaptable. In order to be successful you need to be willing to change. Sometimes change is hard because it’s blazing a new path. One that might not feel completely comfortable but in the long run when you stick with it you will be stronger and more powerful because of it.

Persistence

From personal experience I can tell you the women I’ve worked with in helping them start and grow their business are the ones that are persistent.

Starting and growing a business requires that you be persistent.

Successful businesswomen focus on what they want and then hold on to it.

Sense of Purpose

We all want to feel a sense of purpose.

To be a successful businesswoman, you need to possess a strong sense of purpose and believe what you are doing is going to make a difference in the world.

Cultivate these 5 traits and you will be on your way to building the business you always dreamed of.

Find out how to grow you brand by downloading this free guide:Toni Nelson_Brand Authority_cover3d————————————————————————-

Toni NelsonHello I’m Toni Nelson an Award winning Videographer/Photographer, Author, Speaker, Business Coach and Online Trainer.

I help entrepreneurs and service based businesses by creating videos, logos and other graphic elements to grow brand awareness so your message, your story, your statement is seen and heard locally, globally, 24/7.

Twitter | Facebook | Google+

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Women Entrepreneurs Can Save the Economy

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attractive young businesswoman in office looking at the camera

by Melissa Bradley

Who Are the Innovators of the Future?

If the US economy desires to get back to a new normal and restore trust and faith in investors and stockholders, then they should invest in women. Women are natural leaders, innovators and entrepreneurs. They are also good investments.

Innovation is a break from previous practice, creating new pathways to solve problems. It often begins with a purpose of discovery. Innovation can take place at the individual, institutional and/or community levels. It requires a willingness to experiment as well as accept failure as a possible output. Innovation requires the innovator to leverage personal and emotional traits, as well as intellectual capacity and strategic rigor. The primary characteristics of the innovator’s mindset are empathetic, problem finder, risk taker, networked, observant, creative, resilient and reflective. While it is true that anyone can be an innovator, there are certain individuals that are more likely than others to be successful innovators: Women!

Historically, women have consistently transformed our world through innovation. Stephanie Kwolek invented Kevlar, which saves lives every day. Katharine Blodgett developed gas masks, deicing of planes and smoke screens; she was the first female hired at GE. Melitta Bentz developed the process of brewing coffee in 1908; the business still remains today.

Women Are Mothers, Leaders, Purchasers and Entrepreneurs

Women have strong analytical skills, know how to create a nurturing environment, can be resilient in the face of setback, and typically do not “do status quo.” More specifically, research shows that women own nearly 8 million businesses in the U.S., accounting for $1.2T of our GDP. We also know that companies with women as members of the board of directors perform better: 66% ROI capital, 3% return on equity, and 42% return on sales. Even more striking is that nearly 1.2 million women are top wealth holders, comprising some 43 percent of Americans with gross assets of $1.5 million or more.

Women Are Leaders, Entrepreneurs and Good Investments

The movement toward gender lens investing has validated the fact that women yield greater economic results, and therefore make greater investments. With a focus on investing in women’s leadership, providing access to capital for women entrepreneurs and investing in products and services that are beneficial to women and girls, gender lens investing is being adopted by major investment banks and brokerage houses. With research noting that that more than 95 percent of women play a role in financial decisions, with one-fourth acting as primary decision-makers, one has to ask: What took so long?

How We Can Advance Women as Economic Drivers Now

As we think about how to support an innovative ecosystem in the U.S., here are some tangible steps to advancing and promoting women as economic drivers:

  1. Support corporate transparency in reporting their use of women in corporate supply chains
  2. Request public companies and pension funds to incorporate gender as a priority in investment policy statements
  3. Support the public disclosure of women in leadership positions at venture capital firms, especially where public funds are invested
  4. Advocate for the recruitment and placement of women on boards to drive decisions and create value for all

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Melissa BradleyMelissa L. Bradley is the Director of the Sustainable Entrepreneurship and Innovation Initiative and Executive in Residence at Kogod School of Business, American University. She has been a serial entrepreneur and investor focused on financial services, education, technology and media ventures. She has authored three books: Introduction to Media Investing For The Creative and Investment Communities: Business Basics: A Young Entrepreneur’s Guide and A Young Entrepreneur’s Casebook.

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Amazing people skills of the introvert entrepreneur by @patweber

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by Patricia Weber | Featured Contributor

This month is International People Skills Month, and even introverts want to celebrate theirs.

Wait, are you thinking (or saying out loud) anything close to “introverts and people skills, hahaha!”

If you are thinking this, then you might miss out on the full potential of your introvert entrepreneurial advantage.

Here are just three truths for your consideration and appreciation.

Amazing people skills of the introvert entrepreneur

Introverts are good listeners.

https://youtu.be/Kw4AR_oN8oA

In general people want us to listen more. This trait is in direct opposition to the people success skills people teach. We spend 45% of our time listening and yet spend the least amount of time learning to listen.

Likely you’ve heard of the often-referenced AM radio station that most of us tune into?

MMFI-AM is equal to, Make me feel important about myself.

Do you remember the last time either one of your employees or virtual assistants and you were talking, and you drifted off? Maybe so far away that you had to say, “I’m sorry, I wasn’t listening would you say that again?”

When have you enrolled and participated in a listening course, anywhere?

In management, sales and customer service everyone wants to feel important. By listening more, we serve this need and want that people have.

There is little research about who listens more, introverts or extroverts. The little personality type listening research you can find shows introverts listen more. This means we have more opportunities to listen better.

Introverts think before speaking

“My dear brothers and sisters, take note of this: Everyone should be quick to listen, slow to speak and slow to become angry.” James 1:19

amazing-people-skills-of-the-introvert-entreprenuer

Our natural introvert tendency is to think before we speak. Often situations like meetings or negotiating move quickly, and that leads to us being criticized for not speaking up.

But we do speak when we are ready.

I interviewed Julia Barnickle for my most recent book. Julia is an introvert specialist, admittedly more of an ‘ambivert’, like me!

When we think before speaking we are sifting, sorting and preparing what we want to say about the problem or situation. Imagine being called into a banker meeting and not being allowed to reply, “I’ll need to get with my accountant to get you the financial statements you request.”

Thinking before speaking allows us to add more value to a conversation.

If we don’t honor who we are when talking with others, in this case giving ourselves thinking time before speaking in new situations in particular, then our contribution statement may not be as relevant as we want it to me.

Introvert preference for silence is an advantage

Some of entrepreneurship includes negotiating. In preparing for an interview, the reporter asked about some strategies to help the more introverted type to negotiate better in certain situations.

When we are listening, we are observing and thinking. Many people though are uncomfortable with silence in talking.

Can you recall being in conversation with someone and they don’t come up for air? Even if they ask a question, they keep speaking past their point!

Most of us need a few seconds to answer a question.

The thing in negotiating is to become comfortable with silence because of its disarming ability. In introverts this then allows our listening and thinking to kick into higher gear.

Being good listeners, thinking before speaking and comfort with silence build relationships. These are Amazing people skills of the introvert entrepreneur.

What other people skills come to mind?

How does the introvert in you bring them to social situations in life and business?

 

Want more specifics ideas about introvert strengths and how to use them? Grab the free 32-page excerpt the ebook The Happy and Fulfilled Introvert. Patricia Weber, the introvert inspirer, provides practical tools through – books, coaching, speaking and blogging for the introvert to navigate the rules at work.

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Patricia WeberPatricia Weber: I understand the possible difficulty of being an introvert in business and am on a mission to build the confidence of those more introverted, with a variety of practical tools to navigate communications work and life.

Since 2007, recognized internationally, on radio and in print, for most things introvert I blog at http://patricia-weber.com Followers, who regularly comment find the messages both resonate with them and inspire them.

My recent book, Communication Toolkit for Introverts: Find your voice in everyday business situations, is something a publisher asked me to write –imagine that.

If you are fed up with the often, uncomfortable extrovert rules, or tired of being tired, be ready to be inspired.

I am NOT shy. Many introverts are not either.

My work is not my life. I have other interests, in the past: had my own Harley Davidson (FX model no longer manufactured) until I slid horizontally a few times!

Also, we enjoy traveling. We go from one coast to another to have the joy of seeing my son and his family including two granddaughters. On occasion, it’s off to Europe.

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