Women in Business

Step aside gentlemen, and make room for the ladies! Everywhere you look, you will find that more and more women are starting and succeeding with their own businesses. In fact, more than 10.4 million women in America presently run their own business. These businesses range in size from sole proprietorships to corporations with hundreds of employees.

Women in business today are working harder than ever to achieve economic self-sufficiency, create wealth, and participate in the economic development of the nation. Women-owned businesses additionally employ nearly 13 million people and contribute over $1.9 trillion to the U.S. economy. In the past two decades alone, majority women owned-firms have continued to grow approximately two times the rate of all U.S. firms. And of these businesses, 3% of them enjoy revenues of $1 million or more, compared with 6% of men-owned firms.

Opportunities for Women Continue to Increase

As a woman, do you think it’s hard to start your own business? Well, think again! With the thousands and thousands of opportunities and resources for women entrepreneurs available today, starting a business is easier than ever. This plethora of information is conveniently obtainable by conducting searches on the Internet, or by simply giving a call to your State office. You are bound to find a wealth of organizations dedicated specifically to women-owned businesses, such as the Alliance of Business Women International, American Women’s Business Association, Association for Enterprise Opportunity (AEO), Association of Women’s Business Centers (AWBC), Athena Foundation, Center for Women’s Business Research, Committee of 200, Count Me In, Digital Women, eWomenNetwork.com, the United States Women’s Chamber of Commerce, Women-21.gov, Women Entrepreneur, Women President’s Organization, Women’s Business Center, Women’s Business Enterprise National Council (WBENC), Working Mother, and many, many more!

What is even more fantastic for women of today is that owning their own business, especially one that allows them to work from home, allows them more time with family. The plight of working mothers today involves spending more and more time away from the home, putting a damper on what should be a happy home life.

It is because of this that millions of moms are looking to make a difference in their lives, for the sake of their families and overall well beings. Taking the plunge into entrepreneurship (or “mompreneurship”) today is no longer as daunting as it once seemed – the success of women in business will continue to grow.

The Secrets to Million-Dollar-Plus Companies

Think making a million dollars is out of your reach? Think again. With hard work, passion, and dedication to success, you can make your business its first million.

How? First, know your customers. Know that all businesses do not operate the same way, nor do they value the same things. In order for your business to reach the top, you need to know through and through what your customers want. For instance, what do they buy? What don’t they buy? What are they looking for, and why? Step into the shoes of your average customer in order to best determine how they spend their day, which will ultimately tell you ways on how to lock them into a sale.

Use your money wisely. Once your business has a stream of revenues coming in, it is very important that you continue to maximize use of your cash. Keep all money for as long as you can, and collect money from those who owe it to you as soon as possible. In other words – do not pay a bill before it is due, and get on good, quick payment terms from your customers.

Hire only the best – even if you have to initially pay them more than what you take home. After all, research time and again shows that the success of a company is largely based upon its execution. The people that you put on board are considerably important, as their work performance and ethic is what will ultimately help your business expand to its utmost potential.

Always, always, always exceed your customer’s expectations. Outstanding customer support starts with setting and communicating expectations. Once these expectations are set, exceed the customers’ expectations and you will have them coming back over and over again.

Continue to build on this success. The least expensive customer to sell your products and/or services to is simply the one that you have already sold to. Building repeatable success within your customer base will surely guarantee serious money to be made now and in the future.

Focus on “focused flexibility.” This is essentially about keeping your vision for the business intact. Focus on your goals, but do not ignore what is happening on the sidelines. Know where you are headed, but do not disregard the changes in your markets, economy, or competition.

And lastly, always consult with other professionals and business advisors. These people are your friends – people who are willing to help you grow your business, often without payment.

Whether you are a mother, grandmother, or just someone seeking to fulfill their life with a rewarding, yet very simple business, contact me and I will provide you with additional information about this incredible life-shaping opportunity.