Women-Owned Businesses

Women-Owned Businesses are on the Rise
Women-Owned Businesses
One of the fastest growing segments of the US economy are women-owned businesses. In American Express’s 2012 State of Women-Owned Businesses Report they concluded women-owned businesses increased by 54% from 1997 – 2012. That’s 1 ½ times the national average. Go Women!

Some additional information from the report:
• There are over 8.3 million women-owned businesses in the United States (up from 7.8 million in 2007)

• Women Business Owners generate nearly $1.3 trillion in revenue

• Women Business owners employ nearly 7.7 million people

Two friends recently took the plunge and each left their “corporate nest”. I’m proud of their courage, thrilled for their future, and reminded of one of the strategies of high earning women – let go of the ledge.

One of those friends is an entrepreneur at heart. Throughout the time I’ve known her she has always wanted to go into business for herself. The drain of being in the corporate world had gotten increasingly difficult with each passing year. Early this year she shared with me how painful it had become to go to work each day. Even with the realities of being a single parent, she knew there would never be a better time to leave than now so she jumped.

For the other friend, it was a passion for a product she had created and wanted to promote plus a couple of unsatisfying jobs that caused her to finally make the break. She’s off and running and doing well.

I wish these friends abundant joy and success. Knowing them and their respective skills, I have no doubt they will do very well as entrepreneurs.

I am delighted that so many women have the chutzpah to make this leap – a journey I personally know. Although there’s been a significant time commitment to my business and occasional challenges, I wouldn’t trade it for the “corporate nest”. The regular paycheck, medical/dental insurance, generous vacation pay, and 401K don’t tempt me a bit. When I started my business I knew making a difference in people’s lives would be meaningful. What I didn’t fully comprehend were the other rewards I’d find. Controlling my destiny, including the money I make; bringing my values to the company; having the freedom and flexibility to work when, where, and how I want; and leaving a legacy – all are priceless.

In the book “The Breaking Point”, a question was asked of women who had made mid-life changes at least a decade prior. Would they do it again? Overwhelmingly the answer was YES, and they’d do it sooner. Whether mid-life or not, whether a career change or not, it’s great advice from those who have gone before you (including me).

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