Archive for the 'Risks' Category

Closing the Confidence Gap is Key for Female Entrepreneurial Success

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In a recent Forbes article entitled, “What It Will Take For Women Entrepreneurs To Take Over The World,” author Carrie Kerpen explores what disadvantages women entrepreneurs face in our current market. Kerpen interviews Margaret Donnell, chief marketing officer of Capital One’s Small Business Bank, on how women can subvert the obstacles in their way, in order to succeed. Kerpen’s thesis is: closing the confidence gap between men and women will be a crucial factor in trying to level the entrepreneurial playing field.

Donnell attests the gender pay gap between men and women to be one of the main reasons women business owners are less confident than their male counterparts. She reasons,

“We have pretty clear evidence around us. We’ve seen studies out in media, I certainly have, that document a wage gap between men and women. It means that women don’t always have as much money as men because of that earning power. It also means that their confidence could have been eroded over time, and so I think there’s a lot we can do to lift each other up, and men as allies can lift women up, to help them feel confident and go after getting into business.”

Lacking in confidence can be a hindering quality for any business owner. Not having faith in oneself can lead to a fear of risk. One such risk could be the venture of expanding your SME into a global business, an important move for entrepreneurs.

A potential fear of risk taking is evident in statistics. Kerpen reports,

“…despite feeling more positive about their businesses than their male counterparts, female business owners are more hesitant to take big swings and heavily invest in their companies. According to the same Capital One report, 75 percent of men are likely to hire in the next year, compared to 63 percent of women.”

How do you think women can support and encourage each other to make the bold moves necessary for success in business? How can we increase our confidence to achieve heights greater than we could have ever imagined?

Read several proposed solutions to this issue, in Kerpen’s article, linked 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 Entrepreneurs Are Crushing It

According to the National Association of Women Business Owners, as of 2015, there are more than 9.4 million women-owned businesses in the United States, employing nearly 7.9 million people and contributing $1.4 trillion into the economy.  When it comes to starting and growing a business, women entrepreneurs are crushing it.

If there’s anything that defines women entrepreneurs, it’s their ability to figure out everything from how to write a business plan to launching an app to — yes — taking a business global.

When you are ready to launch and grow your business, keep these six tips in your back pocket from women who’ve done it before.

  1. Build a network early.
  2. Hire help early.
  3. Listen to advice, but make your own decisions.
  4. Go global early [not in the article but Laurel Delaney’s advice :-)]
  5. Go for it!
  6. Be confident.

Learn what women entrepreneurs have done to crush it.

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Note: Don’t miss our next WEGGinar™ 11/1/17 on “UPS Takes the Guesswork out of Global Shipping” and presented by Andrea Cervini, UPS Illinois, Small Business Marketing Manager (https://global.ups.com/how-to-ship-internationally/). Register here:
https://register.gotowebinar.com/register/3272777010361474561.
Event is free of charge but you must register in advance to attend.
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Why Women-Owned and Women-Run Businesses Outperform

It’s a fact:  women-owned and women-led businesses perform better. And that’s why going global is such an appealing avenue of growth for women entrepreneurs and business owners.

Shark Tank’s Kevin O’Leary says:

O’Leary speculated that the women’s outperformance is due to more effective time-management skills and an aptitude for setting achievable quarterly goals. The women-run firms in his 44-company portfolio reach their goals 90% of the time, compared to 65% for men-run firms, he says. He believes these strengths lead to higher employee morale and better results.

Other strong possibilities on why women entrepreneurs perform better beyond pushing boundaries:

  • Smarter decision-making that follows from more diversity of thought; women challenge stale ways of thinking, re-examine facts, generate more innovation and sharpen performance.
  • Greater efficiency with money.
  • Taking more carefully calculated risks (forget the myth that women are risk-adverse!).
All these great characteristics can naturally lead women to expand their businesses internationally.  The qualities go hand in hand.

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Note: Don’t miss our next WEGGinar™ 9/6/17 on “How to Win the Trade Game With Export Finance,” and presented by Jeff Deiss, Regional Export Finance Manager, Northern California | International Trade Finance Manager-Western US US Small Business Administration – Office of International Trade | US Export Assistance Center (www.sba.gov/international).  Register here: https://register.gotowebinar.com/register/4753604763900421122.
Event is free of charge but you must register in advance to attend.
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Managing Risks with Global Transactions

While transacting business across borders, there will always be risks.  You must learn how to navigate around them.  In the article below, Jane Hay (pictured), V.P., Global Trade Services at US Bank, highlights five risks you need to manage while expanding your global footprint.

  1. Commercial risk
  2. Product risk
  3. Bank risk
  4. Documentary risk
  5. Country risk

The name of the game is to do your homework, call in the experts when you need them (the sooner the better), and protect yourself every step of the way.

Read more …

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Note: Don’t miss our next WEGGinar™ 6/7/17 on “Go! Go! Global With Sourcing Products,” and presented by Jodi Bondi Norgaard, speaker, consultant and founder of Go! Go! Sports Girls and JB Norgaard Enterprises, Inc.  Register here:  https://register.gotowebinar.com/register/7576894438194026755.
Event is no charge but you must register in advance to attend.

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WEGG Mission

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.


Women Entrepreneurs GROW Global is a 501(c)3 nonprofit organization. EIN/Tax ID #47-2956522.

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