Despite women owning 40% of all the businesses in the U.S., in 2018, less than 2 percent of women-owned businesses generated more than $1 million in sales (and that percentage is even lower when you only look at women of color). This article in Entrepreneur explores ten common mistakes that include: trying to do it all yourself, not spending enough time working with mentors and coaches, lack of a cash runway and not understanding the scalable aspects of the business.
This link will take you to a recording of the webinar that was held on Wednesday, January 22, 2020 at 1pm. Faculty Director Deborah Streeter and Program Director Kirsten Barker were interviewed by eCornell’s Chris Wofford on the concept and evolution of “side hustles”.
Two articles appeared recently discussing the importance of more openly sharing personal salary information as well as financial management strategies. “Build Your Squad For Financial Success” appeared in Entrepreneur and focuses on how women of color can help lift each other up by more openly sharing salary ranges, negotiation tips and business collaboration.
A New York Times piece published the same week entitled, “I’ll Share My Salary Information if You Share Yours” shared how more and more women are openly discussing topics that were historically considered taboo – salaries, stock options, signing bonuses, negotiation tactics and both “dream” and “walk-away” numbers.
While most entrepreneurs will never end up on the reality show Shark Tank, there are interesting lessons to be learned from those who have. From intellectual property protection to accepting feedback to envisioning your outcome to maintaining confidence to believing your gut, this piece on Medium shares important takeaways from ten women who pitched to the “sharks”.
Happy 2020! As we head into a new year and new decade, we thought it would be useful to share this article from Fast Company that highlights four different women and how resolutions they made (ditching a business partner, creating a remote workforce, embracing the present and increasing prices) forever impacted their professional trajectories and businesses.