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Interview Patty

2% of Women-Owned Businesses Break The $1 Million Mark

How To Be One Of Them

1. - Don’t be afraid of growth. - Women often underestimate what they can accomplish.

When they meet other women who have been in our program for a while, and see the success they’ve had, it reinforces the idea that they can aim for that growth and success too.

2. - Be a public leader. - There is enormous value to being a public spokesperson for your company and the part of your industry you know best. Put yourself out there as a thought leader, speaker and blogger. Project yourself into areas where you are an expert and you’ll meet people you otherwise wouldn’t have met. This also enables you to position yourself in the press as someone with valuable information about your industry and that positions you for the next client relationship.

3. - Work on the business rather than in it. - Some of us, early on tended to think that no one could do the job better than us. Instead, find people who share your values and vision and make them a part of your enterprise. In our last annual meeting, business owners went around the room updating everyone on what was happening with their businesses.

4. - Have an advisory board. - We are all the products of our experiences but at the end of the day, you need a lot of experience to be successful and you don’t necessarily need to hire it all. You don’t have to have a huge management team, but assemble an advisory board of those with high-quality experience to have by your side.

5. - Find a like-minded community. - It can be very reinforcing to network with other entrepreneurs with whom you have something in common. It helps for affirmation and advice, and sometimes it helps you to build your next big thing.

6. - Evaluate your funding options. - In many cases female entrepreneurs haven’t actually evaluated what their financing options could be and how different types of financing can help them grow the company. Determine what that would look like, where it would come from and who could be the source. A lot of women entrepreneurs bootstrap longer than men, probably because they aren’t’ as exposed to the venture or private equity community as much as men have been.

Source: forbes

Patty Block, President and Founder of The Block Group, established her company to advocate for women-owned businesses, helping them position their companies for strategic growth. Charting the course for impactful, sustainable, profitable businesses, the beacon is control: of your strategic direction, your money, your time, your staffing, and your ability to bring in business. The Block Group brings together the people, resources and ideas that build results.

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