Women Entrepreneurs Grow Global

Make Your Global Online Shoppers Feel at Home Wherever They Are

Registration is still open for our FREE November 7th, 2018 wegginar®, with presenter Cristina Bandal, Industry Segment Manager of Retail and Consumer Goods for UPS.

Cristina has an extensive career with UPS, working within the marketing functions. She has worked with merchants in the retail and high tech industries. Cristina makes customer experiences valuable, by improving the shopper’s experiences. Her most recent assignment helps enable merchants to sell outside the US through UPS technology.

If 95% of the worlds population lives outside the US, why are some merchants still only selling to the domestic market? Complex rules, costly risks and high transportation costs make it difficult for small businesses to merge into new markets. UPS i-parcel not only offers a solution to these merchants, but provides a frictionless experience to international consumers.

wegginar® participants can expect to learn how to…

Offer international consumers the same shopping experience on your website that you offer to shoppers in the US.
Avoid complicated and costly international shipping that will ultimately improve your conversion rate.
Enable new international markets with just a click and reach a world of consumers.
Make your online shoppers feel at home anywhere

wegg® aims to make resources for going global accessible to all women entrepreneurs, and our wegginars® are free thanks to our sponsors. To register for the event, visit this link: https://register.gotowebinar.com/register/8810009934736118275

Female Entrepreneurs Are the Engine of Global Growth

Published October 8, 2018 Economic growth , Education , Enlighten Me! , Equality , Gender challenges , Global trade , global women entrepreneurs Leave a Comment
Tags: be their own bosses, beyond borders, Exporting, female entrepreneurs, global growth, global women entrepreneurs, wegg®, women business owners, women entrepreneurs energize economies, women will conquer the world

Bonnie Chui, contributor for Forbes, writes a thoughtful piece about how female entrepreneurs are going global and that new policy attention may close the gap. At wegg®, we are closing that gap — whether there is new policy attention or not.

We not only serve women entrepreneurs by educating them on how to go global, we are women entrepreneurs, and through our educational efforts, we continue to energize economies worldwide.

Further, based on my experience running a successful global business and serving as a consultant to countless global women business owners, my observations indicate that women entrepreneurs must condition themselves to be risk oriented, innovative, and proactive (RIP) in order to achieve any reasonable level of success in the export marketplace.

Like everyone else, they must also achieve five things before venturing out beyond borders:

Becoming ready mentally, particularly emotionally
Being ready operationally
Having run a successful local business
Knowing how to use the latest technology
Having a business with export potential.

Also, in my view, a perceived lack of credibility is the number one barrier for women doing business globally. This perceived deficiency lack makes it difficult for women to access markets, market information, and establish relationships. If you don’t already have an influential person in your life who can tout your capabilities, find one and cultivate the relationship, or just reach out to wegg.

Most of the above referenced facts are covered in my Exporting: The Definitive Guide to Selling Abroad Profitably, Chapter 27, “Women Business Owners: Engine of Global Growth.”

Let’s face it, women launch businesses for the same reasons men do — to build wealth, to capitalize on their ideas and to be their own bosses.

Oftentimes you must learn about starting a business and taking it global the hard way — by doing it — and getting assistance from programs such as wegg’s helps enormously.

Female entrepreneurs are the engine of global growth and with appropriate support, will conquer the world. Just you watch.

wegg® keeps energizing women entrepreneurs the world over. We can help you build confidence, find great resources and show you the steps you can take to go global. Join us for our FREE wegginar® on 11/7 with Cristina Bandal. You can find all of the details, and register for the event, here.

The Rise of Women ‘Millennipreneurs’

Published October 1, 2018 Announcement , Business Development , Capital (working) , Economic growth , Education , emerging markets , Enlighten Me! , Equality , Event , Gender challenges , global women entrepreneurs , Leadership , Miscellaneous , Social Entrepreneurship , Trends , WEGG event , WEGGinar™ , Young entrepreneurship Leave a Comment
Tags: train and support young women, WEGG, WEGGinar™, women, women business owners, women entrepreneurs, women entrepreneurship, women exporters, women in business, women in the workplace, women's economic impact, women's empowerment, women's issues, women's rights, women-owned businesses, young entrepreneurs, young women entrepreneurs, youth business

The Female Entrepreneurs Institute has reported that there is a new generation of wildly successful business owners, who are all under thirty-five years of age. The ‘millennipreneur’ model of business has proven to be advantageous worldwide. The Institute explains,

“[This new] approach to business differs from that of their elders in terms of their ambitions, results and leadership style. Among the successful business owning millennials studied in this research, some 78% come from families with a history of running their own businesses. As a group, each has already established on average 7.7 companies, compared with an average of 3.5 among the 50-and-over Baby Boomers.”

A contemporary and forward-thinking entrepreneurship can be seen in this new generation’s most lucrative areas of business. The top three sectors of wealth for millennipreneurs were listed as: retail (12.5%), professional services (8.5%), and technology (7.3%).

This new generation of business owners has paved a way for women business owners, specifically. The proof is in the numbers…

“89% of women entrepreneurs surveyed expecting growing or stable profits in the next 12 months. Female millennipreneurs are aiming even higher with close to 75% expecting business profits to increase in the next 12 months…”

wegg® knows that the future of entrepreneurship is women entrepreneurship. We can help you start your business, or show you the steps you can take to go global. Join us for our FREE wegginar® on 10/3 with Katie Kollhoff, founder and CEO, NUMiX. You can find all of the details, and register for the event, here.

NUMiX: Small Startup, Big Global Impact

Published September 24, 2018 Awards/Honors , Capital (working) , global women entrepreneurs , Inspiration , Sustainability practices , WEGGinar™ , Young entrepreneurship Leave a Comment
Tags: big global impact, Katie Kollhoff, Northwestern University, NUMiX, wastewater, water purification, wegginar®

Our next wegginar® presenter is Katie Kollhoff, CEO of water purification startup NUMiX, a business with rich marketplace potential. In just six months, here’s what Katie and her team has achieved:

Captured the US Department of Energy’s Cleantech University Prize (Cleantech UP) at the 2018 Rice Business Plan Competition on April 7. Prize: $50,000 award used for business development, commercialization training, and other educational opportunities.
Won first place and $30,000 at Northwestern University’s VentureCat competition. NUMiX will use the funds to scale up production of its platform.

About NUMiX

The NUMiX business includes a suite of sorbent powder products capable of collecting metals from water. Such products could be used to clean toxic metals out of industrial wastewater or recover silver in manufacturing processes for reuse.

About Katie and her upcoming wegginar 10/3/18

Katie is a Master’s of Engineering Management student and a safety engineer at Northwestern with a background in chemical engineering, specializing in process safety management. Her wegginar, “Small Startup, Big Global Impact,” will cover:

Origin story of a small women-owned hard science company
Technological developments and their impact on water risk
Worldwide water as a market
Considerations of a small company reaching across the globe

To register (it’s free due to wegg’s sponsors) or learn more, visit: https://register.gotowebinar.com/register/8060785115734801921

President and CEO Julie Smolyansky on “Following Your Gut”

Published September 17, 2018 Business Development , Culture , Economic growth , Education , Enlighten Me! , Equality , Event , global branding , Global trade , global women entrepreneurs , Innovation , Inspiration , International business , Leadership , Sales & Distribution , WEGG supporter , WEGG workshop , WEGGinar™ , Working abroad , World entrepreneurship Leave a Comment
Tags: business mentoring, ceo, follow your gut, go global, lifeway, lifeway kefir, risk taking, WEGG, WEGG workshop, WEGGinar™, women business owners, women entrepreneurs, women entrepreneurs grow global, women in business

This past Wednesday September 12th, President and CEO of Lifeway Kefir, Julie Smolyansky lead a wegg® workshop about the importance of following your gut on business and personal endeavors. Her inspiring talk covered the journey of Lifeway beginning in her parent’s basement, in the mid-eighties, when they began making Kefir, a food inspired by their home country, the former Soviet Union. It is now a $120 million publicly-traded company, thanks to Julie. She grew Lifeway to the size it is now, without a business degree, and became CEO at age 27, when her father suddenly passed away. Smolyansky shared the story of how one of her father’s friends reacted when he died and she was made CEO…

“[He said] ‘forget it, the company is done. Sell all of your stock tomorrow. There’s no way a 27 year old girl could run a company.’ This is done. Lifeway is over…I go into the office Monday morning…and everyone had sold their stock….It was devastating…[I] picked my head up and moved forward. Then, we had 70 people, today we have 320. We’ve grown our business from 12 million to 120 million…We continued to execute on the strategy we believed in, and continued to follow our gut, and worked really really hard….That man who said ‘she’s never gonna do it,’…I literally think about him every day. I say ‘thank you’, ‘thank you so much for underestimating me, for pissing me off, and making me angry…You gave me the fuel to move forward.”

Smolyansky went on to describe how being a young CEO became a strength for her. She followed her gut and made Lifeway one of the first businesses ever to have an active social media presence. She explained, “We were ahead of the game…Vogue called us ‘avant garde’ for being on social media.”

She also shared her beliefs on the importance of female entrepreneurship,

“If women were employed at the same rates as men, we know the global GDP would rise exponentially…That I think is really important. A rising tide raises all ships, and when women create jobs, an entire community is more safe and stable….Women are the key to saving the world…Entrepreneurship…can heal the world.”

Other inspiring takeaways from Smolyansky’s talk…

Keep moving ahead no matter what your challenges are in life.
Make a big impact: it only takes one person one step at a time to change the world.
Follow your gut (we should all listen to our intuition on important matters in life).

Thank you to Julie, and her team, Justine and Maria, for making our on-the-ground wegg® workshop a success. And thank you to Bank of America, Moji Eagan and Aneta Mazur, for hosting us.

If you were not able to make this wegg® workshop, we are having a wegginar® on Wednesday, October 3rd with Katie Kollhoff, CEO, NUMIX. She’ll present on “Small Startup, Big Impact.” Thanks to our sponsors, IBM, UPS, Bank of America and GlobalCare Clinical Trials, the program is no charge but you must register to attend, here.

What It Means to be a Successful Global Negotiator

Published September 10, 2018 Compensation , Gender challenges , Leadership , Research Leave a Comment
Tags: changing the narrative, ethics, gender, moral identity, sex differences, stereotypes, successful global negotiator, women as leaders, women as negotiators, women entrepreneurs

According to the report, “Changing the Narrative: Women as Negotiators and Leaders, “There is powerful evidence that women continue to struggle in their careers relative to men, both in their pursuit of senior leadership positions and of equal pay.” That’s why a lot of women are choosing entrepreneurship and business ownership: to avoid an obstacle that seemingly won’t go away and to take control of their careers.

Why is there so much that remains misunderstood about the challenges women face and why the negative stereotypes? More specifically, why is there the persistent view that women are innately poor advocates for themselves? When:

In fact, women possess unique advantages as [global] negotiators, including greater cooperativeness and stronger ethics. But often those strengths are overlooked or severely undervalued.

To learn more about practical strategies for managers and negotiators of both genders to close the performance gaps and to discover what it means to be a successful global negotiator, click here.

wegg® educates women on how to take their business global and in one of our most recent wegginars® we talk about the importance of negotiating a good foreign distributor agreement. Strong negotiation skills can be the difference between closing a business deal and losing it. Learn more about wegg’s monthly educational wegginars here.

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JOIN us for our morning wegg™ workshop on September 12th and hosted by Bank of America (135 S. LaSalle Street, 44th Floor). Julie Smolyansky, President and CEO, Lifeway Foods, will present “Follow Your Gut,” covering:

How global factors influence company values and mission
Why we should empower women entrepreneurs around the world
How to channel inspiration from travel experiences into marketing initiatives

Tickets $40 ($20 for students); includes Continental Breakfast. To learn more and to register, visit: https://www.eventbrite.com/e/weggtm-workshop-follow-your-gut-presented-by-julie-smolyansky-tickets-48655708534
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Women Entrepreneurship in the EU: The Numbers

Published September 3, 2018 Business Development , Economic growth , Enlighten Me! , Equality , Gender challenges , Global news , global women entrepreneurs , Innovation , Inspiration , International business , Micro-enterprises , Trends , World entrepreneurship Leave a Comment
Tags: entrepreneur, european union, female entrepreneurs, resources for women, small business ownership, Small Business Trends, statistics, women around the world, women business owners, women entrepreneurs, women entrepreneurship, women in business, women in business statistics, women's issues

Screen Shot 2018-08-30 at 11.30.14 AM

On a global scale, women are less likely than men to start their own businesses. This is evident from the above graph, taken from the “Policy Brief on Women’s Entrepreneurship.” The data shows that in every EU country, from 2010-14, there were significantly less female owners of new businesses, than male.

Why is this the reality?

The OECD SME and Entrepreneurship analysis proposes that a:

“…key factor in explaining the gender gap is the social and institutional context [of the countries]. Paradoxically, national-level gender equality is negatively associated with women’s self-employment choice compared to men’s (Klyver et. al., 2013), suggesting that gender equality policies in the labour market may cause women to prefer employment over self-employment (Nielsen et. al., 2010). Similarly, more supportive work-family institutions are associated with larger gender gaps in terms of business size, growth aspirations, innovativeness and use of technology. This appears to indicate that it is important to look beyond simple proportions of women and men entrepreneurs to the motivations and quality of the business, with the hypothesis that greater gender equality may improve good quality businesses and business creation based on positive choices by women, while reducing poorer quality business creation based on lack of choice.”

One of the economic reasons that women might choose employment over the entrepreneurial self-employed path, is that self-employed women make less money than self employed men, on average. This finding is displayed in the graphic below:

Screen Shot 2018-08-30 at 12.06.00 PM.png

Other factors, such as lack of resources and training for women in business, are consistently cited as justification for the lack of women entrepreneurs in the global . market. This apparent neglect of a business education for women is highlighted in the graph below:

Screen Shot 2018-08-30 at 11.25.46 AM.png

As displayed by the image, at least thirteen out of the twenty-two countries in the EU showed a significant gender gap in perceived accessibility to business training. This is where wegg™ can help. Our mission is to educate, inspire and nurture women business owners and entrepreneurs worldwide on how to go global so they can run healthier businesses and create a new future for themselves, their families and their community.

We provide monthly resources for women entrepreneurs to become educated on current business strategies in order to go global. If you are interested in entering business, or growing the business you already have, wegg™ can help you. Please check out our website, to discover possibilities you did not even know existed.

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How global factors influence company values and mission
Why we should empower women entrepreneurs around the world
How to channel inspiration from travel experiences into marketing initiatives

How Mastercard is Investing in Women Entrepreneurs in Developing Nations

Published August 27, 2018 Business Development , Capital (working) , Country specific , Culture , e-commerce , Economic growth , Education , Enlighten Me! , Equality , Gender challenges , Global news , global women entrepreneurs , Innovation , Inspiration , International business , Micro-enterprises , Strategy , World entrepreneurship Leave a Comment
Tags: Kenya, MasterCard, Nairobi, Small Biz Resource, small business ownership, small businesss credit, women, women around the world, women business owners, women entrepreneurs, women entrepreneurship, women in business, women in the workplace, women's economic status, women's empowerment, women's issues, women's rights, women-owned businesses

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In Michelle Martin’s recent Forbes article, “How Mastercard Could Close A $300 Billion Credit Gap For Women Entrepreneurs,” she reports,

“As of 2017, 70% of women-owned MSMEs [micro, small and medium-sized enterprises] in the developing world lack access to adequate financing, representing a $300 billion credit gap each year.”

This major finance inequality stems from MSMEs not having access to a digital record of transactions or the resources required by banks to obtain credit. Because of these issues, women entrepreneurs, in places such as Nairobi Kenya, are not able to gain the capital needed to purchase inventory in order to expand their enterprises. Expanding a business is critical to the success of a business, and makes it possible for the entrepreneur to potentially achieve success on a global level.

Thanks to Mastercard, this $300 billion credit breach is about to change. The corporation is launching technology, through the Mastercard Center for Inclusive Growth, to aide women owned MSMEs in these countries. Martin explains,

“In partnership with Unilever, Mastercard recently launched the Jaza Duka program in Kenya, where they created a first-of-its-kind digital lending platform. The unique platform tracks how much Unilever product a store owner has purchased over time and combines that data with an analysis by Mastercard. The results are used to provide a micro-credit eligibility recommendation to Kenya Commercial Bank, who can then provide an interest-free credit line.”

The venture is already being met with success. In one instance, a Kenyan entrepreneur named Lucy Njoki, has been able to increase her sales at her shop by twenty-percent, thanks to the Jaza Duka program.

To read Martin’s full piece, and an interview she conducted with one of the executives of this Mastercard program, Shamina Singh, click here.

This support of global women entrepreneurs is the kind of change that we here at wegg™ are proud to watch. If you or a woman entrepreneur you know is trying to “go global,” we would love to help you, too.

_______________________________________________________

How global factors influence company values and mission
Why we should empower women entrepreneurs around the world
How to channel inspiration from travel experiences into marketing initiatives

Women Entrepreneurs Grow Global

Female Entrepreneurs Are the Engine of Global Growth

NUMiX: Small Startup, Big Global Impact

President and CEO Julie Smolyansky on “Following Your Gut”

What It Means to be a Successful Global Negotiator

Women Entrepreneurship in the EU: The Numbers

How Mastercard is Investing in Women Entrepreneurs in Developing Nations

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