Category: Personal Skills

Women Business Owners Are More Focused on Driving Good Employee Experiences

The HerMoney Media and Principal Financial Group’s 2023 State of Women survey of small and midsized business owners revealed significant differences between men and women in their economic outlook, financial confidence, and attitudes towards risk.

Women business owners express more caution about the U.S. economy but are optimistic about their personal financial situations compared to men. In addition, female business owners prioritize employee outcomes, emphasizing a positive work environment, mental health, and opportunities for advancement. They are less likely than men to offer financial wellness programs, often due to the belief that their businesses are too small to justify such programs.

Best States for Women-Owned Businesses

A report issued by Merchant Maverick looked at the top ten states in the US for women-owned businesses. The top of the list included Colorado (ranking at the to of the list for the third year in a row), Texas, Florida, Washington, California, Virginia, Arizona, North Carolina, Wyoming, and Illinois. To evaluate the best states for women-led startups, Merchant Maverick considered items like total venture capital in the past five years invested in women-led startups, percent of employer firms led by women, percent of employees at women-led firms, percent of women self-employed in their own business, and the average income of women self-employed in their own business. To read more about the findings, click here.

Avoid These Pitfalls If You Are A Small Business Owner

This post from LegalZoom which was recently updated in September 2023 highlights the top ten mistakes made by new business owners. The list includes:

  1. Not having a business plan
  2. Not having a marketing plan
  3. Impatience
  4. Overspending
  5. Underpricing
  6. Not forming the right business entity
  7. Thinking you don’t need insurance
  8. Not having a written agreement with your business partners
  9. Failing to protect intellectual property
  10. Thinking you can do it all yourself

Check out the link to read more detail about what to do if you think you are falling short in that area as the post goes into depth on each item in the list.

Thinking About Your Company Footprint

Even if you are a small business, you can still be thinking about ways in which you can reduce your environmental impact. This article posted in Entrepreneur shares 8 items to consider when determining practical ways to reduce your company’s impact on the planet. From energy efficiency in the office to flex scheduling to rethinking the office supplies you purchase, every change we make helps to make a difference.

Balancing Entrepreneurship and Motherhood

In this recorded webinar from May 2023, Andrea Ippolito, founder and CEO of SimpliFed and Director of Women Entrepreneurs in STEM at Cornell University discusses the opportunities and challenges women entrepreneurs face when launching a business while raising young children. With two small children of her own, Ms. Ippolito is an expert on starting a company and watching it grow while concurrently ensuring that her children thrive.

Barbie’s Lessons on Resilience and Leadership

This article in Fast Company looks at the summer blockbuster “Barbie” movie and explores some of the film’s  inspirational messages of resilience and strength. Specifically, it lists the importance of never giving up, knowing that any goal is possible, dreaming big and embracing that you are enough. Check out the article to read more about how those themes are woven through the movie!

Remote Work Best Practices

Whether you run a small business that relies on remote and/or hybrid workers, you are part of a large organization navigating how the post-COVID workplace looks or you are a remote worker yourself, figuring out best practices to support this work arrangement is critical for corporate success.

This post on Business.com discusses critical best practices to consider to ensure that remote work is a success including technology adaptations, work scheduling and IT security concerns to name a few. The piece also discusses the important of outlining a remote work policy and provides tips on how to navigate that process.

Tips for How To Network To Grow Your Small Business

This post published by the US Chamber of Commerce provides some helpful advice for small business owners who are looking to expand their local networks. Specifically, the piece shares suggestions such as volunteering with local nonprofits, attending trade shows, exploring digital networking and collaborating with other local businesses for cross-promotion and support. Check out the post to see other tips!

Considerations When Turning Your Side Hustle Into a Full-Time Business

This blog post from SCORE (which stands for Service Corps of Retired Executives) highlights eight points to ponder when considering whether to turn your side hustle into a full time business. Specifically, the piece mentions the importance of considering what automation tools you will use to help you scale efficiently (for tasks like scheduling, accounting, inventory, etc) as well as considerations about your marketing plan and customer base. Check out the blog post for more tips!

Challenges Faced by AAPI Women Entrepreneurs in the Pandemic Era

The COVID pandemic has worsened existing challenges for Asian American, Native Hawaiian, and Pacific Islander (AAPI) women entrepreneurs. Many AAPI-owned businesses have been hit hard, especially in industries heavily affected by the pandemic.

Language barriers and a lack of banking relationships have limited their access to loans and capital. AAPI women face a wage gap and have shouldered increased caregiving responsibilities. Despite these obstacles, AAPI women entrepreneurs remain resilient and determined to overcome the challenges they face. See this April 2023 post from CNBC to read more.