Did you know that women business owners earn approximately 45% less than our self-employed male counterparts?
I get agitated reading the analysis of women-owned businesses* because our earnings are a highly distorted reflection of our true value.
How can it be possible that…
- 82% of women have annual sales of less than $50,000 per year
- only 11% exceed $100,000 in yearly revenue
- and just 1.7% break $1,000,000?
Another thing that irks me is the recommendation to support the women-owned businesses that are just shy of the million dollar mark. The SMALLEST percent of business owners.
But what about the women who are making less than $100,000? Or <$50,000? Or <$25,000?
Yes, what about YOU?
I’m not here to judge what you want out of your business. Or project what you should want to earn. If you’re happy with less than $50,000, that’s okay. Maybe you’ve got other resources. That’s cool. Really.
But the women who seek me out all have bigger financial goals than that.
And it’s possible you might too… but can’t figure out why it’s not happening.
It’s one of the reasons I host a free webinar about ‘The Real Reason You’re Not Earning A Reliable Income — and How To Get Off The Money Roller Coaster’.
I’ve got a session coming up soon. And we even do a live Q&A so you can ask any questions you’ve got on the topic.
There’s no charge to participate. And maybe I will have cooled down by then. (Unlikely 😉 )
* Source: The State Of Women-Owned Businesses Report (United States) has been commissioned by American Express OPEN for the past six years.
I’ve been through countless sales slumps over my past 14 years in business.
And let me tell you, holding a dance card that’s filled with “NO, NO, NO” can be one of the most demoralizing experiences a business owner can face.
Dealing with these slumps is isolating, embarrassing and a real ego-buster. But as sure as the sun sets every day, it’s bound to happen.
Three of my most memorable (and painful) dips were…
1. My first year in business
Even though I’d gone out on top from a successful sales career in Corporate America, I could not close a deal to save my life in my new business.
With loads of advice from legions of colleagues, I finally eked out two paying clients somewhere between months 10-12 which kept me in the game.
As a result of earning less than 10% of my prior year corporate income, I had to rearrange a lot of financial obligations in order to stay afloat. Talk about a major reality check.
2. Following my first live event in NYC
I had just moved to New York and was so excited because the event was sold out 2 weeks in advance. Even people without tickets showed up on event day with the hope of getting a coveted seat. The room was electric. I was living the dream!
Yet it turned out to be a quite possibly the worst day of my life.
Despite the popularity of the event and 88 people in the room, only one person bought the program I offered.
In hindsight, I know it’s because I was out of alignment with the offer I made.
But worse yet, I felt maligned. Rejected. Like a big fat loser.
The shrapnel from that single event sent me to the sofa for months afterward. Those were quite possibly the worst months of my life.
I went from the highest high to having lost all confidence in myself and questioning everything.
What am I doing with my life? When am I ever going to figure out my business? How can I afford to stay in NYC if nobody will buy from me? What’s wrooooooong with me? I’m no good!
3. During a major losing streak
I had a period where I had a bunch of sales conversations, but nobody, and I mean nobody, was buying.
I felt so defeated. I’m the sales coach. How could I be screwing up so many opportunities?
I stepped back for awhile before half-heartedly trying to do more outreach. But that wasn’t doing the trick. My prospects could sense that I didn’t believe in myself — so why should they believe in me?
I felt like I was “wasting” good prospects so I plain old stopped trying. Just hoping I’d get out of my slump ASAP.
Like inaction would do me any good. Riiiiiight.
Those slumps destroyed any shred of confidence I had left. And when I did have a sales conversation, my prospects were saying NO because they sensed something was off.
It’s crucial to move through the slump as quickly as humanly possible!
The quickest way to get out of it is to follow these 2 pieces of advice:
DO NOT “compare and despair.”
Resist the urge to look around and obsess over how successful everyone else appears. And then shame yourself for not being right up there with them.
It did no good to sit around wondering why I couldn’t be more successful, skinny and gorgeous like Ali Brown. Especially if I did it while eating a sleeve or two of Oreos while I stewed. That only made me angry.
Get off of Facebook if it makes you feel crappy. Unsubscribe from the “shiny happy people” emails if they depress you. It’s okay to seclude yourself from that stuff for awhile. It’s only temporary.
DO take immediate steps to restore your confidence.
The secret of every successful entrepreneur is knowing how to get out of a sales slump as quickly as possible by getting the YESES rolling in again. Because YESES and money solve a lot of problems. 🙂
For 3 go-to secrets that have lifted me out of innumerable slumps over the years, go ahead and help yourself to 3 Secrets That Boost Confidence & Inspire Your Prospects To Readily Say YES! by clicking on the image below:
Slumps are bound to happen. And looking back, those dips are a right of passage. BUT… that doesn’t mean you can’t find the quickest way through, around or across any slumps and bumps you hit along the way!
I’m in <3 with this man, Mike Dooley. (His wife has nothing to worry about.)
I was lucky enough to spend 3 days with him at Omega Institute this past weekend. And because it was so goooooooood, I'm inspired to share a few of my favorite nuggets with you from my #SundayCEO this week.
Get ready for some old fashioned woo woo!!!
1. Thoughts become things.
If you're thinking positively, that's what you're gonna get. And the same is true if you're thinking negatively. Watch what you say and think!
2. Because things do not become thoughts, dream "generally."
In other words, dreaming about the book you'll write (or Porsche you'll buy) ain't gonna get you happiness. Instead, it saddles you because you've linked your whole life with this book taking off. Instead, think about what writing the book will get you.
THAT'S the feeling that you REALLY want to dream about. Because maybe it's a talk show that'll get you the feeling. Or a world speaking tour. Or a role in a movie. And aren't they all equally cool?
Trying to dictate HOW you'll get that feeling by saying it's "the book" closes off possibilities.
3. You rock BECAUSE of your challenges and problems.
Challenges make you rise to the next level. If it feels like things aren't working, it means you're ready for a bigger game.
Which is why...
4. Taking action breeds clarity.
Knock on more doors. Look for more paths. More options. More ideas. If what you're doing isn't working, toss in another option for fun. My friend, Tina Forsyth and I love doing "experiments" because it takes off the pressure!
That means you need to get out. Get out. Get out. Even if it's just going to the mall to people watch. You're more likely to get what you want (aka "manifest") when you get out of the house and / or office.
5. Only in hindsight are the miracles obvious.
Just because you don't see them in real time doesn't mean they're not happening... because they are.
You may have heard my "sobbing-in-my-living- room-because-I-went-in-the-hole-trying-to-build-my-business" story. I thought I would never figure out how to make REAL money in this business.
Then almost magically, all my so-called crappy experiences melded with my positive experiences and I created this cool thing called Evolve Accelerator.
Not only has it positively changed my clients lives and their businesses, it's changed mine. I can hardly believe I'm starting my 18th Evolve group next month!
And that's just one of many examples of the miracles being evident in hindsight, but not in real time.
*** ASK YOURSELF ***
Am I taking action - or giving up?
Am I getting out of the house -or waiting for success to come to me?
Are my thoughts about what I (generally) want - or about what I (specifically) don't have or am afraid of?
*** *** *** *** ***
You are amazing. And mindset is half the battle. Well, it's more like 99% of the battle.
Wishing you your most fantastic week ever!
As a small business owner, have you ever fallen flat on your face in your business like I have?
Maybe a program launch flopped. Or your sales conversations went nowhere? It’s no fun, but it happens to every small business owner.
A few years back I had a huge moment of clarity that I knew would help women entrepreneurs move out of the struggle. And start to finally have all your hard work pay off big time.
It all started on a cocktail napkin as I explained this phenomenon to a few fellow entrepreneurs over drinks one night.
Since this topic has been coming up a LOT lately, I put it into a quick video for you to explain the real reason you’re struggling.
If you’re floundering in your business, this is totally worth your time!
As you can see, you’re not alone.
If you’re in (or fast approaching) The Dip, we can talk about what’s going on for you and discuss best steps for your unique situation.
Simply complete a short assessment by clicking the link below – and let’s talk about the next best steps for you.
launched The Biztruth.
Those first few years were quite a shock after a relatively cushy and predictable 7 years of owning my franchise!
Yes, it’s been quite a ride.
And looking back, there were two things that initially stunted my business growth and personal happiness when I launched.
And I notice those same things with many of the women entrepreneurs I meet so I want to share them with you.
1. Women feel the need to ask others for permission.
From their spouse. Coaches. Peers. Friends. Mailman. Butcher…
I’ll never forget the time I asked my “millionaire mentor” what he thought about me creating a web tv show that would’ve gotten me a bunch of visibility early on. He flat out told me “no don’t do it.”
Ummmmmm… why in the world would I let HIM decide for ME?
Sigh… because I didn’t trust myself.
How do you expect your prospects and clients to trust you if you don’t even trust yourself?
That’s the question I had to ask myself because I had overwhelming evidence in the form of the next problem…
2. There’s not a single entrepreneur who’s not looking for more clients.
We spend all sorts of time and money on programs hoping for an instant and BIG payoff.
But when it doesn’t work, we lose trust in ourselves to make good decisions.
It’s a vicious circle.
Once I was able to pull my head out of my ass (Sorry, Dad. I know you’re reading this, but it’s true!) and look clearly at the real keys to strategically building my business, everything changed for the better.
If you want to learn more, I wrote a brief that explains what to do to get more clients and gain a fresh level of self-trust.It’s something different that’ll make you question what you’ve been told about how to get more clients.
It’ll challenge your assumptions.
And it’ll explain what to do about it.
Once you master the five things you’ll learn in this brief, you’ll stop asking others for permission.
Because your level of self-trust will be locked in.
You can download this free brief using the link below:
Knowing this stuff 6 years ago when I moved into this wild West of business sure would’ve been a time, money and heartache saver – so I hope you take a moment to read it.
And a lifetime living it.
Wishing you many happy and prosperous anniversaries in YOUR business!