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How 4.2% Can Motivate Women Entrepreneurs Today

May 6, 2015

Business advice for women entrepreneurs, businesswomen and small businesses

statistics

Statistics matter. Facts matter. Life can be seen with clarity or cloudiness. It is up to us to decide. Whenever it comes time to make a hard decision, I always look at “my numbers” when making a decision. Numbers tell the hard cold facts. No emotional comes with numbers only the truth.

One day five years ago I was invited to a meeting with three other women entrepreneurs I did not know. The leader of the meeting said, “We are going to go around the table and announce our company’s gross sales.” I know I was not the only person around the table that squirmed in her seat. I have never been asked to share my sales figures publically just like I never discussed my professional salary when I was employed. I don’t know how much my sisters make or my best friends. I don’t ask. We don’t talk about it.

The revenue figures around the table ranged from $250,000 to $22,000. It was a very revealing exercise. Do you happen to know the average revenue and net income for small businesses based on an industry? I found an intriguing link to a November 2010 article that gives the information. I was really surprised at the figures. I knew only 4.2% of women entrepreneurs earned a million in sales per year but I did not realize how low most small business revenues were across the nation.

Annually Parade Magazine publishes a “What People Earn” issue. I am always curious to see other people’s salaries to benchmark my earnings. I find it interesting that women entrepreneurs get into business to make money but we don’t talk about what we make with others. We should be able to compare, converse and challenge each other to higher levels of financial success.

Today’s blog post is to motivate you to think about whether or not you are content with your average revenue and net income. Have they been increasing, decreasing or remaining flat? What could motivate you to a higher level of financial success – more education, a commitment to sales, hiring someone to help you bring in more money or sharing success strategies with other women? Ask yourself, “Would I be happy telling everyone my sales figures if I was asked?” If your answer is yes, what are the reasons; and if the answer is no, why not?

milliondollarbillsEvery May I host a “Movement to Millions Program” featuring a Central New York woman who has hit the million dollar mark so she can enlighten other women. I hope you think about money matters today and join me at this program to see what you might need to do to earn more money.

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2 Comments leave one →
  1. May 6, 2015 10:51 am

    The discussion of money, whether it is salary or what our companies earn, should not be so taboo. Especially in the world of salary. Being more open here will help us in our quest to close the gender pay gap and earn what we are worth. Thanks for broaching this topic Tracy!

    Like

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