Tag Archives: professional women

Change Your Mind, Change Your Money

Guest Post by Sherí Taber, Founder and CEO of the Peak Performance Group

What you believe about your ability to be successful and build a successful business completely determines your success.  Interestingly, the beliefs you hold at a very deep level drive your thoughts and your actions. One of the greatest contributions to the failure of women-owned small businesses is their mindset.

Throughout history, women have been conditioned to accept that they are first responders to all things domestic and while they may have “permission” to play” at business, the game shouldn’t be so high that it creates a risk of financial loss or failure to attend to the needs of their family.  The older you are, the more powerful the conditioning and the higher the expectations.  Even women in their twenties and thirties are unlikely to have a mom-preneur role model and have been subject, at the very least, by osmosis to this mindset.   Understanding what is at the root of your belief system about being a successful business owner is the key to unlocking the gates to success.

You might say, “I don’t have any limitations embracing and executing what it takes to be outrageously successful!”  That’s phenomenal!  However, unless you have analyzed your own belief systems about:

  • Business
  • Investing in business resources
  • What you believe should take first place before your business responsibilities

you might be surprised at what could be holding you back.

Historically, women have allowed their families to create the expectations and priorities they must then manage before freely focusing on the responsibilities and priorities of their businesses.  Even those who might label themselves as ‘empowered with independence’ naturally feel an obligation to manage family and social business before the priorities of their enterprise.

Research shows women entrepreneurs also struggle with investing in resources such as administrative support, technology and business coaching.   A recent study by Kimberly-Clark revealed that the most significant barriers to success were A) access to financial resources (65 percent), B) risk of failure (43 percent) and C) not knowing where to start (36 percent).  Barriers A and B would be scalable if they invested in support that helped them know where to start, what to focus on and how to plan for success, how to prepare and position their organization to qualify for funds, if needed, and how to avert risk and prevent failure.

On May 17th, join Sheri’ Taber on Success Institute as she introduces a framework to help you avoid these barriers to success.

You’ll be empowered to:

 

  • Examine and overcome limiting beliefs about business success
  • Overcome organizational stutters and stammers
  • Resolve barriers to success
  • Manage expectations to maximize personal and professional success
  • Leverage intention over impact to accelerate success
  • What’s impeding your immediate success?  Conduct your own gap analysis

Don’t miss this one if you are serious about business success!

 

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Women Entrepreneurs: What are the Top Three Barriers to Financial Freedom?

Guest Post by Terri Maxwell

Let’s start with the truth.  According to the Center for Women Owned Businesses, there are 10.4 million women-owned businesses that employ nearly 12.8 million people and generate $1.9 trillion in sales.  That’s astounding.

The cold hard truth, however, is that most women-owned firms are still one-person shops (10.4 million businesses employing 12.8 million people.  That’s about 1.2 employees PER business.)  Why is that?  Most economists say that women start “lifestyle businesses” so therefore they are not interested in growth.  Is that true?   I don’t think so!

So, what is it preventing women business owners from aggressively growing their business so that they achieve financial independence?

I asked this question to several investors over the last two years.  The response:   “Most women just don’t know how to compete.”

My response:  “You’ve got to be kidding.”

Their answer did nothing but fuel my desire to find the real truth.  Fox Business News thinks “women ROCK as business owners” and cited these points in a 2010 article:

1)    Women owned firms contribute $3 trillion annually to the U.S. economy (revenue generated plus investment expenses to grow their business).  They also account for 16% of ALL jobs.

2)    Women owned firms are projected to create 5 – 5½ million NEW jobs by 2018.  For the record, that’s more than half of the TOTAL new small-business jobs that will be created and about one-third of the TOTAL new jobs anticipated by the Bureau of Labor Statistics.  This includes jobs in Corporate America.

3)    The Fox Business News article states that characteristics such as being customer-focused, community-focused and being servant leaders translates into women who excel in running a business, keeping employees engaged and building a loyal customer base.

The article didn’t mention that “we don’t know how to compete,” just for the record.

So, if we ROCK at business ownership…why does it feel as if we’re just getting by?

In my research, I did find three simple growth-stifling mistakes, that when you put them together explain why there are so many women-run firms who remain small and miss the $1M annual revenue mark.

1)    First, we focus on doing rather than “getting it done.”

2)    The second biggest mistake women business owners make is that we focus on tasks rather than business priorities.

3)    The biggest mistake we make is that we focus on what’s not working rather than what IS working!

So how can we overcome these mistakes? Can you think of other issues that might keep women business owners from growing their companies to their fullest potential?  Please share and leave your comments below.  And join me on eWomenNetwork Success Institute, March 8, 2011, as we discuss ways to overcome these mistakes and take your business to $1 M annual revenue mark and beyond.

Join Terri Maxwell on Success Institute, March 8, 2011 at 1:30pm CST to learn how to “Overcome the Top 3 Barriers to Financial Freedom!”

Original Post from Succeed On Purpose, Inc.

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Are Your Blog and Email Friends?

Guest Post by Karen Talavera
 
Sometimes we get so caught up just keeping our email programs running that we get tunnel vision.  We forget that email is an essential tool in the marketing toolbox, an ingredient in the marketing mix, and not a channel to be kept unto itself.

There’s been plenty written about integrating email and social media (I know, I wrote some of it!) but what about an even more obvious connection you can make – integrating email with your blog?  Here are three easy ways to do so:

Tip #1. Promote email subscriptions and content offers on blog pages

A well-written, frequently updated blog can drive significant amounts of traffic to your website (or, it may BE your website). With the impact of search indexing and social sharing, it’s likely that many potential readers are first landing on your blog pages – not your home page or product pages.

Make sure you have a way to capture email addresses from blog visitors who might not take time to explore other parts of your site.  How to do so?

Make your e-newsletter or promotional opt-in offer visible on every page of your blog. That way, visitors who land on a specific blog post – and like what they read – will easily see other ways to receive content and information from you.  When you build this into the standard frame or design template of your blog, it’s easy to do.

Tip #2. Offer an email subscription to your blog posts

Although it’s standard practice to use RSS syndication to provide automatic updates of blog content, RSS readers remain a niche technology (various studies have placed RSS adoption between 10%-20% of Web users). But many feed management systems, such as Feedblitz and Google’s Feedburner, allow subscribers to receive updates by email.   I myself subscribe to many blogs this way, as I prefer to have as much content as possible pushed to my inbox where I use tools to sort and prioritize it from there.

Promoting an email update service can help you attract a lot more subscribers for your blog content. You’ll also capture a vital piece of information that you don’t get from RSS subscribers – an email address.   And this as we know is CRITICAL to including blog subscribers in your marketing and promotional communications funnel.

Also consider taking a cue from listserv mailing lists and create a blog “digest” newsletter. This could be a weekly, biweekly or monthly publication that consolidates blog headlines from that time period for easy scanning and skimming.  The option may appeal to visitors who want to follow your blog but don’t want a lot of new messages in their inbox. You also can use space within that email to promote relevant offers to subscribers.

Tip #3. Repurpose blog posts and other articles for your email newsletters

Get the most from the content you work so hard to create by repurposing and re-using blog posts within your email newsletters.  A favorite tactic of mine (which you’ll soon see in my e-newsletter, InSight) is to write a blog post, then use the first half of it as an email newsletter article with a link to continue reading the full article on your blog.

This drives email subscribers who HAVEN’T yet sampled your blog to the blog on a regular basis.  Also, since you have more latitude and control over what happens on your blog/site and more ability to drive conversion or sales from there than the inbox, getting readers in front of your content in your preferred context should always be the goal.

You can also consider dedicating a specific section of your newsletter as a “blog corner” – highlighting your most popular posts, a featured guest post, or a post by an industry luminary.

Finally, look for ways your blog content offers variety or a departure from typical newsletter articles. If your blog tends to be more informal or entertaining than your newsletter articles, that content may be a welcome addition.  For example, Jim Palmer (the Newsletter Guru) routinely includes a video in his email newsletter which plays on his blog.

Remember, your blog and your email can work beautifully in tandem to both distribute content and invite readers to interact with you in other ways . . . ways that produce deeper engagement, greater loyalty, and more revenue.  Plant the seeds to forging stronger ties between your blog and email marketing and watch your opportunities flourish!

Join Karen Talavera on Success Institute 2/15/11, 1:30pm CST to learn more about  The 3 Keys to Unlocking More Revenue from Your Online Marketing in 2011

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Become Financially Secure Now!

Guest Post by Camille Gaines

A financial woman is prepared to step into the role of overseeing her money at any time. This can seem a little scary, but the truth is that no one plans for the unexpected. There are several reasons why being prepared to take over the management of your money at any time is important, beyond the unexpected happening in your life.

The definition of overseeing your money varies depending on your individual circumstances.  For one, this may mean taking a leadership role when hiring and meeting with your financial advisor. For another, it may mean implementing a simple index strategy to create a diversified portfolio. Both require understanding the basics of investing in order to responsibly oversee your investments.     

A Citigroup study found that 90% of women in the U.S. will be solely responsible for their own money at some point during their life. This alone is good enough reason for you to be actively involved with overseeing your money management if you are not. It is easy to defer the leadership role if someone else in your household is taking responsibility for your money since women already have so many roles, but this job only requires as many hours as you decide you want to spend, depending on the investing method you chose. A few consistent hours a year gets this essential job done.

Just knowing that you can step into any important role, especially one that affects the quality of your life as much as your money does, empowers you. Knowledge is what provides empowerment and confidence. Once you know the basics of exactly how much money you have, where and how it is invested, and how to measure and monitor the performance of your investments, you’ll be able to confidently do so at any time.   

Things just feel bigger and scarier when we don’t know anything about them. Think of all the experiences in your life that you dreaded because they seemed big and intimidating, and then after you learned how to do them you wondered why you had been so intimidated by them. I remember how difficult it seemed to make online purchases when I first began; I would inevitably make some mistake and become frustrated. Now it seems silly that something so simple was difficult; unfortunately for my spending plan, now I find it all too easy!

What areas of your life have felt overwhelming until you learned them, and then they seemed easy? It usually only takes some initial involvement to start feeling confident and ready for the next steps. If the thought of overseeing your investments seems uncomfortable and overwhelming, decide what steps you need to take to become financially empowered so you can have real financial security.   http://www.financialwoman.com/ 

Join Camille Gaines on Success Institute 2/1/11, 1:30pm CST to learn more about how to “Become Financially Secure Now!” 

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Getting Your Bio in Great Shape Offers Rewards that Show Up in The Balance Sheet

Guest Post by Nancy Juetten

A client-attracting bio is a universal tool in the marketing toolbox for business owners serious about growing and attracting the right clients. Read on for tips to help you get the mission accomplished in short order.

Not every business owner has the interest or inclination to get interviewed by the media, become a popular public speaker, or step into that dream of becoming a best-selling author. However, it is a universal need among business owners to position themselves to attract more of the right clients right now. Those who want to stand out and shine as they attract more clients need to say who they are, the mission they are on, the results they bring about, and why it matters in compelling terms that capture attention straight away. That means using your bio as a tool to attract exactly what you seek in terms that actually compel prospects into action.

For example, if you were seeking a personal fitness trainer, which of these two descriptions would compel you to lean in and engage?

A. I am a personal fitness trainer who serves 50-something rich people who reside on Mercer Island who want to get in better shape now.

B. I am a Jewish mother with a PhD who is also a fitness maven on a mission to get 50-somethings off the couch and taking the stairs with a smile because they look to the second half of life as the best half of life.

As for me, I’d choose B. because the message is steeped in authenticity, wow, and the promise of great possibilities that really resonate in a compelling, emotional way. And it all happens with one line of text.

The fact is, everyone’s business bio can be made better to showcase more authenticity, better messaging, and delicious benefits that really resonate with their target market. Best of all, a better bio can invite more of the right opportunities to reflect well in the balance sheet. Like all things — including exercise — it’s a matter of getting into action and selecting well chosen words that deliver the goods.

As you ponder those words, consider these marketplace realities:

1) There are 27 million independent business professionals trying to make a go of it beyond the scope of “cubicle nation.” Some have exited voluntarily, and some choose never to return or can’t find their way back in. These people have to make their way in the world somehow, and that means it is essential to differentiate and stand apart quickly in an online search. Blah, blah, blah and boring messages don’t get the job done.

2) There are many people who need to invite additional streams of income beyond traditional employment to make ends meet in this demanding economy in which many states are still reporting double digit unemployment. What potential clients find out about them in a quick Google search can mean the difference between getting a call to get into action or sitting indefinitely for calls that never come in. Conduct a “Google” search for your name, your company name, and the key words for which you want to be known as the expert. If the search reveals a disconnect, consider that your wake up call to take inspired action to change that for the better.

3) Speakers who want more paid speaking engagements can invite plenty more of them and the compensation that goes with them, provided they lead with a provocative, timely headline and describe their message points in ways that get meeting planners to say “YES” right away. Those who ramble in broad generalities are often disappointed by their results, whereas those who describe the value they bring in bold terms often welcome the compensation.

4) In today’s economy that the Wall Street Journal has called “the age of going solo,” decision makers recognize that they are doing business first and foremost with PEOPLE as opposed to COMPANIES. People want to know about that energy healer, financial planner, or business coach before putting their money on the line to benefit from their unique ways of serving clients. How quickly a consultant, expert, author, or media personality can get to the “like, trust, and respect” place has a direct impact over how much influence they can command and how much money they can make. A well crafted bio that makes clear the stunning results, sassy sound bites, succinct stories, and relevant social information that guides ideal clients to get there faster can bring plenty more qualified sales opportunities than leading with an old school bio that reads like yesterday’s news.

5) There are a great many people who struggle GREATLY with talking about themselves. For those who want to get seen, heard, celebrated and ultimately COMPEN$ATED, this is a huge problem. Those who are willing to articulate the value they bring for their ideal clients in terms that resonate and are sufficiently compelling to invite prospects to become paying clients can advance along their path to revenue generation a whole lot faster than those who don’t or won’t. It’s an exercise well worth the effort, as you’ll soon find out when you plug in these lessons to your expert advantage to scoop up the marketplace opportunities that await.  (Original post http://biznik.com/articles/getting-your-bio-in-great-shape-offers-rewards-that-show-up-in-the-balance-sheet)

Success InstituteJoin Nancy Juetten on Success Institute 1/18/11, 1:30pm CST to  ”Take the Rock Start Status Reality Check”

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Long Term Care and Your Taxes

Having just completed Long Term Care Awareness Month, the end of 2010 is the perfect opportunity to consider your best long term care options for the new year and beyond.  The Administration on Aging reports that by 2030 persons 65 years or older in the U.S. will represent 19% of  the population and most will be women. Unexpected care expenses for an individual, a spouse, a parent or a family member can greatly impact your finances.“In America 3 in 4 of us need long term care after we turn 65.  But most of us aren’t insured for it, and waiting to insure carries great risks,” says Denise Gott, Chairman of the Board of LTC Financial*.  A long term care insurance policy protects against asset loss by paying long-term care bills and avoids dipping into savings or selling investments to cover the costs.

Under current U.S. tax law, long term care insurance premiums offer a tax deduction that is often overlooked. In addition, when a policy is paid for out of a Health Savings Account there can be tax advantages.  Based on federal tax information from the Internal Revenue Service, for 2010 the maximum amount of qualified long-term care premiums you can include as medical expenses has increased.  For businesses, there are tax breaks that can be especially attractive. Some business owners can deduct premiums without having to satisfy the 7.5% medical expense threshold amount.  In addition to federal tax benefits, there may also be state tax benefits as well. For those who don’t currently have policies, investigating long term care now could position you for deductions next year.  Be sure to ask your tax expert to check into every deduction that may apply in your case.

Take advantage of this opportunity to educate yourself about your options.  For more facts on long term care, click here.

*LTCFP does not offer tax advice, but teams with consumers’ financial advisors and accountants to provide information on long term care insurance options affecting one’s financial situation.

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Managing Director Pamela Chatry Named Business Person of the Year

On November 18, 2010, Pamela Chatry became the Business Person of the Year at the Westside Awards of Distinction ceremony for the Kitsilano Chamber of Commerce.  Pamela is the Managing Director of eWomenNetwork Vancouver Metro and Coquitlam in Vancouver, BC.

The Westside Awards of Distinction brings together and celebrates the achievements of local businesses.  The Business Person of the Year has shown exceptional vision and expertise, demonstrated consistent performance and dedication, and has served as a wonderful role model for business development and excellence.  Pamela is thrilled to be acknowledged for her commitment to women and business in both her company, Pamela Chatry and Associates, and as Managing Director for eWomenNetwork.

“There were eWomenNetwork logos all over the place!” said Chatry. “My fervent belief in the support and promotion of women in business is a natural extension of the eWomenNetwork philosophy: Lift as you Climb.  Taking on the role of Managing Director has not only enhanced my work, but also the quality of my life.”

Congratulations to Pamela Chatry for this prestigious award and for her commitment to her members and her community.

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Express Your Personal Style This Holiday Season with Glorious Gifting!

The holidays are upon us and it is time to give some thought to unique and creative gifting for your customers, family and friends.  If you review the many lists for the “Best Gifts for Women in 2010″, you see everything from the perfect book, a holiday clutch, an over-sized tote and sassy shades, to an iPad, a BlackBerry and a tropical vacation escape.  eWomenNetwork member Ruth Fernow of Dilania offers these stylish ideas from her online/travelling boutique.

Who wouldn’t love blinged Stem Wear on your holiday list? The designer uses semi-precious stones to adorn stem glasses, napkin holders and much more.  Look for the distinctive and the delightful.   What about exotic visors or a chic cap embellished with Austrian crystals for that golfer or jogger on your list?

And if you have a practical and thoughtful client, a purse hook might be the perfect gift.  Wrapped in black velvet, this is an accessory every woman needs to have.  It keeps your purse in sight, off the floor and within arm’s reach.  It even works for backpacks, diaper bags and messenger bags!

This holiday season, don’t forget a present for yourself. Is it time for a new briefcase or travel gear?  Ms. Fernow recommends a line called Exclusively Chic Travel/Business bags. It includes a Bag on Wheels, The Overnighter Garment Shoulder Bag, a Laptop Case, Large Tote, Organizer Purse and a cell/business card shoulder purse called PurCELLnality.  Gift yourself something fashionable and practical at the same time.

Express your unique personality this holiday season with festive, funky, fashionable and fabulous holiday gifting.  And don’t forget to support your fellow eWomenNetwork members and Small Business Saturday℠ on November 27th. This Holiday Season, “Shop Small”!

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The Client Attractor Factor: 7 Steps for Attracting Your Ideal Clients

Guest Post by Ellen Looyen

In my 22+ years in business, I’ve seen so many talented service-based professionals enduring a never-ending struggle to attract more clients. They often squander the few opportunities they have with viable prospects, by not being able to talk about their own value in a way that connects with their market.

Here are some simple tips that will ensure your success as a client magnet:

1. Connect Emotionally First and Logically Later

Prospects for your services want to get a FEELING about you and your practice or consultancy.

The easiest and most direct way to do this is to tell them your “Branding Story”, using compelling language, laden with emotionally-connecting sound bites, that hit both sides of their brain at once.

Get real good at telling the “story” of your value (using compelling words and visuals that convey the essence and energy of your business). Your messaging needs to confidently convey your value, experience and unique style to those in need of your services.

2. Share the “Experience of Your Value and the Value of Your Experience”

Give people thinking about hiring you a direct experience of your work, in the form of a complimentary consultation. This is your opportunity to demonstrate your value in real-time; and it will give your prospective client a chance to see how it feels to actually be working with you.

Once you capture their imagination (the hallmark of charismatic people) and they feel comfortable working with you, they will feel an instant resonance and in their gut they will want to hire you.

3. Inspire Confidence

Most don’t realize it, but confidence is the number one reason people buy or choose anything.

People will never buy into feelings of doubt or uncertainty—yours, or theirs.

If you don’t believe in yourself and your own value as a service-based professional, how will your potential clients ever feel confident enough to buy from you? Your whole being must confidently exude that you offer the best solutions for their specific problems.

4. “We Convince by Our Presence”…Walt Whitman

Present people seem totally focused on whomever they are with.  They seem to possess an enviable peace about themselves and to have nothing to prove.

They make people feel like they are their only client in the world.

They are totally with people in the present moment, with no agenda (attention focused on a desired future outcome) and they truly want what’s in the best  interest of their clients.

5. Become More Likeable

In his terrific book, author Tim Saunders shares “The 4 Keys to Likeability” and they are: Friendliness, Relevance, Empathy and Realness. Develop these 4 personality strengths and you’ll have a much easier time attracting people who may become your clients in the future.

6. Position Yourself as an Expert in Your Field

Brand-building is about consciously creating the “perceptions” you want people to have of you and your practice.

Position yourself as an expert by writing articles, blogs and newsletters and by developing first class marketing materials that highlight your expertise and experience.

Learn how to expertly articulate the many things that you know and how others could benefit from it.

7. Enhance Your Charismatic Influence—It’s Your Very Best Attractor Factor

Charismatic people throughout history have possessed the unique ability to capture the imagination of others and inspire them to be supportive and devoted to a cause. Charismatic people know how to instantly create trust and rapport and can quickly influence others to see things their way.

Don’t Miss Ellen Looyen October 5, 2010 on Success Institute as she discusses “The Client Attractor Factor: 7 Steps for Attracting Your Ideal Clients.” REGISTER HERE.



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How the Idea of eWomenNetwork Came to Life – An Interview with Sandra Yancey

Trisha Kagerer

Trisha Kagerer

Guest Post by Tricia Kagerer

Dallas Women in the Workplace Examiner

The Dallas Women in the Workplace Examiner had the opportunity to interview Sandra Yancey; Founder of Dallas based eWomenNetwork. (www.ewomennetwork.com) This is the first of 5 articles in which our readers will get to know Sandra on a personal level and learn more about eWomenNetwork, the Glow Project and the eWomenNetwork Foundation.


DWWE: What inspired you to start the eWomenNetwork?
Sandra
: Honestly, I was a lousy networker. I’ve never really been terribly comfortable in a room full of people. I’m an introvert at heart, but I’m great one on one. I started going to networking events in Dallas in about 1998. We had moved here in 1996. I had my own consulting practice at the time and was really a soloprenuer. I had a bevy of impressive clients, which made for an impressive portfolio. My business was indeed successful.

I was living on a plane daily. And as a soloprenuer, I was doing it all. I was booking my flights, as well as my hotel room and interviewing clients. I would then run to Kinko’s, make copies, get the mail, update QuickBooks, and process invoices. I wasn’t functioning as a CEO—Chief Executive Officer, I was functioning as a CEO—Chief of Everything! All the while I had 2 small children at home; my son was not even three years old and my daughter was eight. I wasn’t happy.

It was at this point I learned the difference between success and happiness. My husband encouraged me to look for clients in my own backyard to cut out some of the travelling, so I did. I started attending various networking groups in Dallas and witnessed the most amazing, phenomenal thing: “The Good ‘Ole Boys Club.” First, you must know, I say it in the most complementary way; I’m not bashing anyone at all. I saw these guys at work and thought, “You know what, they deserve to be where they are; no wonder they are so successful.” They were sharing ideas, talking about what they needed, and opening up their rolodexes to each other. They also had their protégé close by, there with them to watch and learn the ropes, introducing them to others along the way. I thought this was a really amazing way of doing business, “a unique sport” and I wanted to play. I wanted to be on the team. I didn’t want to be sitting on the bleachers—I wanted to play.

DWWE: So did you start to play?
Sandra: Unfortunately, I wasn’t eligible. I just didn’t have the qualifications to get in.

DWWE: Do you think it was because you were female?
Sandra: I think part of it was. I also think it was the dynamics of the group. It’s similar to when you’re at an eWomenNetwork Conference; there’s an energy that can’t be replicated anywhere else. It’s not that it’s right or wrong, or good or bad; it’s just what it is.

DWWE: So how did you begin to move forward?
Sandra: I started looking for women networking groups. The first one I attended was a disappointment and eye opener. It seemed as if the women were all showing up in pairs, coming with a girlfriend. I felt like everyone knew this but me, that I wasn’t included on the memo. I went to the meetings alone and felt like people were thinking, “You don’t have any friends? What’s wrong with you?” It was hard to even find a table that had a spare single chair because everybody came and sat in pairs. When I did find a seat and sat down, I started eating my salad and noticed the ladies seemed to all be talking to their girlfriend. I tried to interject something here and there, but never really felt welcomed into their conversation. It was just the weirdest thing.

On the way out, I realized I was not the only one who was disappointed. On the way down the elevator, I overheard heard someone say they didn’t get much out of the meeting. I thought to myself, “No Wonder! You didn’t talk to anyone new. ”

Soon afterwards, the idea for eWomenNetwork began to percolate. As I talked to other women colleagues and business owners, I discovered I wasn’t alone in my experience. It was then that I knew there was a need to networking group for women that would focus on sharing resources, ideas, contacts, leads and customers with a female approach and environment would be a viable business model.

DWWE: How long did it take you from idea to the launch of eWomenNetwork?
Sandra: I began to test my assumptions by embarking on some statistical research. (This was before the internet was popular, so research was much slower than it is today.) I discovered that there were 10.1 million women-owned businesses in the nation. One out of eleven adult women in the USA runs her own business! The list goes on. Bottom line, I saw a need and decided to fill it an immediately developing a business plan.

DWWE: What other research motivated you?
Sandra
: Women influence 80% all purchasing decisions in this nation. Women are starting businesses at the rate of two to one to male-owned businesses. They are leaving corporate America, and are starting businesses in droves. I also found out that there are about 7,000 networking groups that open and close each year. So, the viability of longevity of using networking as a business model wasn’t what I would call seductive. It wasn’t like I was easily seduced into this because I was looking at a huge failure rate.

I also noticed that the largest organizations that were out there had a big leg up on me. One organization, for example, was celebrating their 25th year the year I opened my doors.

My business model is based on stickiness; I had to have something women would value and “stick” to. I learned a lot of networking groups were born out of women who had other primary businesses but weren’t getting their networking needs satisfied. They were starting their own networking groups “on the side” to feed their core business. Eventually, these women would realize the amount of time organizing these events took from the core business, and would eventually give them up. I knew that if I could meet their fundamental business-building needs, they would become members of eWomenNetwork and tell their colleagues, who would also join.

Resources were also scarce; banks and investors wouldn’t really talk to me because I was too small. They didn’t a value business model based soley on building relationships. Silly them! All businesses are built on relationships! It’s true that for the first several years, I struggled. But, by sticking it out, honing our message, investing in technology, building our memberships, things started to take off. Like many others who have experienced the same thing, suddenly everyone had an interest, everyone wanted to talk.

This is the first in a series of 4 interviews with Sandra. Stay tuned for the next posting to read more about Sandra’s amazing story.

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