Wealthy Bag Lady Blog

Are Women Thinking Big Enough?

Why Aren't More Women Running Million Dollar Businesses?

Susan Wilson Solovic, author of The Girls' Guide to Building a Million-Dollar Business, was the keynote speaker at Women's Small Business Expo a few years ago.

Solovic posed the question, "Why aren't more women running million-dollar businesses?" Her answer was, "Not thinking big enough."
 
I totally agree and so does Sharon Hadary in her recent article in the Wall Street Journal.
 
Hadary notes that women have been launching businesses at twice the rate of men, and their growth rates of employment and revenue have outpaced the economy.
 
But despite all this progress, on average, women-owned businesses are still smaller than their male counterparts. Although the gap has narrowed, women-owned firms are still only 27% of the average of male-owned businesses.
 
Think Bigger

Let's make a vow to change things starting now. Don't assume that you won't get financing, corporate sponsors, access to government contracts, or big accounts.

• Invest in yourself and your business
• Hire professionals
• Form success teams
• Create compelling marketing
• Establish yourself as the expert in your industry
• Become a sales superstar
• Embrace change and take more risks

Look at your pricing and think about raising your rates. That's right. I said raising your rates, even in a challenging economy. People will always pay for quality, service and value.

Let's get more women into the Million Dollar Club.

Remembering My "Second Mom" on Mother's Day

 

On Mother's Day, I Did the Revlon Run/Walk for Women to Honor My "Second Mom" Rhoda Goldie

She lost her battle with cancer on February 4, 2010. The photo on the left is of me at the Revlon Run/Walk. The photo on the right is Rhoda in the 1980s.

Rhoda is my best friend Sheryl's mom. I met her when I was only 13 years old and we both fell in love with each other. She taught me about kindness, hard work, loyalty and compassion. When I wanted to start my Wealthy Bag Lady business, do Women's Small Business Expo and write my book, Bags to Riches, she supported me totally.

I even interviewed her for the book about employee relationships because she inspired the best in people and kept employees loyal to her for over 20 years.

Celebrate Someone Special This Mother's Day

Mothering comes in all forms: friends, teachers, family members and mentors. I've been so blessed in my life to have 2 great moms and I know that Rhoda is still lovingly watching over me. Think of the women in your life who have nurtured you and celebrate them on this very special Mother's Day.

Black Eyed Peas: Sponsored Rock

Black Eyed Peas Know How to Get Sponsors

I've always loved the Black Eyed Peas. From the first time I heard "Where Is the Love?" I was hooked. Not only are the Black Eyed Peas super-talented and great at putting on a show, they are also the sweethearts of corporate sponsors.

Coors, Levi's, Blackberry, Honda, Apple, Verizon and Pepsi have funded group's videos, tours and have featured the band members in prominent places.

When Apple was preparing the 2003 launch of the iTunes store, The Peas' "Hey Mama" became the first song associated with the iconic campaign's dancing silhouettes, a point of pride for will.i.am, the band's frontman.

What You Can Learn

The band has always been committed to getting sponsors, using sponsorship proposals that sum up the Peas' package.

According to will.i.am, "I consider us a brand. A brand always has stylized proposals, from colors to fonts. Here's our demographic. Here's the reach. Here's the potential. Here's how the consumer will benefit from the collaboration."

I love it. This is exactly what I teach people who want to get sponsors. Even though you may not be a big rock band, you can use these same strategies to get great corporate sponsors.

Women's Small Business Expo Was a Huge Success

Women's Small Business Expo on April 28 Was a Huge Success

Lots of networking, success teams, outstanding exhibitors, business-building presentations and even a Chocolate Party.

Claudia Chan, president of Shecky's told women how to do marketing in the new economy and I gave Million Dollar Sales Secrets.
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Here is one of the raves:

"This is a 5 Star event. Women should run...not walk...to the next Women's Small Business Expo. Congratulations on a great event Linda."

-Paula Fellingham, TheWinOnline.com

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See you next year!