Successful Business

You're a Woman. And you can make $1 Million Dollars

Today, there’s a lot of attention on women. We’re in the spotlight. For phenomenal reasons and terrible reasons - terrible reasons as related to terrible things we’ve endured, not necessarily caused. The news and topics can be defeating. Some days. I feel defeated.

Other days.

I feel like this is it. Our time.

I was raised by a feminist. I am a feminist. And I am a business owner. And I feel there is really not a better time to be both a woman and a business owner. We are being heard, we are collectively using our voice and we are succeeding. There are drawbacks. Today, note the date, might be one of those days of drawbacks. I personally decided to not listen to the news this morning while I work so I can be more productive. I’ll have to learn later what the Senate decides.

As for being a powerful woman and a powerful business owner, take some notes, here. supplies some solid tips, that in my years of working in sales, marketing, business strategy and running my own business (s) ring v true to me.

Ste. Sébastienne by Louise Bourgeois

Ste. Sébastienne by Louise Bourgeois

First, I find this is very common (I’m guilty):

“Women entrepreneurs aren't staying stuck at $100,000 to $600,000 because they aren't smart, capable or hard-working,” says Pimsleur. “It's usually that they don't have the right mindset or strategy, don't know how to scale up or even what the scalable part of their business is. Most women are what I call ‘octopreneurs,’ meaning one person trying to do eight jobs.” - Julia Pimsleur, founder of Little Pim (raised $5.9 million in funding).

But here’s her advice, which upon reading, compelled me to write this post and share the article (see article link at end)

THINK ABOUT THIS: What are the high-margin products or services you sell?

  1. What can you sell more of without massively increasing staff or overhead costs?

  2. If you’re running a service company, is it possible to productize your services? (If you’re not familiar with this term, productizing means selling your services as a product. For instance, if you design web sites, you might offer two to three different web site packages, named just as a product would be. Some entrepreneurs are able to sell their services for higher prices and earn higher margins this way, thus making their businesses more scalable than if they charged retainer fees or by the hour)

  3. Do you need to run your company in a new way? Companies that make over $1 million may use different systems and strategies than you do now.

  4. Do you need to run your company in a new way? Companies that make over $1 million may use different systems and strategies than you do now.

I can’t help but personally observe that as women we’re often afraid to be strategic or opportunistic. These traits can be looked down upon as greedy or selfish or overbearing. All traits that when you stop to think about it, are admired and revered in many men.

I think this is changing. I’ve always been an opportunist because I love getting my way and I love getting what I want. But I’m kind, caring and deeply empathetic. Here, lies the super power of women. We can be all of it. We can be the powerful, the successful and the grounded and the caring. All at once.

Do it, own it, be it, live it, love it. This is our time.


The Marketplace - More Time & Money on Disappearing Stories

'Ephemeral Marketing' aka 'Stories' is by now a tool that most users know on Instagram. I've always been adverse to Snap Chat, and Facebook still hasn't really grabbed me, but Instagram had me from day 1. 

And when stories came out, I have to say, I was pretty captivated. And as a consumer, and a self-titled consumer analyst, I've been watching companies weave their way into the Stories I personally watch, right along side the hair-stories, or dog-stories, or travel-stories of my friends.

And I really love making Stories :)

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NPR's Marketplace, in case you missed it, did a brief piece on the 'Stories' tool yesterday. They interviewed a few people with interesting points:

"Branded stories appeal to users who are watching family and friend updates along side [the brand story]." - Katie Talbot, author, content marketer, entrepreneur.

 "I think [stories are] the future of content marketing...

"According to the recent Facebook Conference, more people are using Instagram stories than posting on the grid itself...[Users] like stories because they’re true and they’re authentic."

And this: The Fear of Missing Out (FOMO) theory, which may be a cheap tactic to capitalize on people's inherent fear-nerve, but that's another 'story':

"Platforms [like Stories] that provide ephemerality - a sense of scarcity - get people to move. Hence flash sales...When you know that door is closing you feel a sense of loss aversion so you do what you can to avoid that.

Same with stories. If you miss it, you're disconnected, you're not a part of the network - from an anthropological perspective, your survival is low." - Marcus Collins, at Doner Ad Agency

And if that's not enough, about some figures:

They are currently an estimated 400 million daily users on Instagram stories.

100 million brands are creating  stories.

And on average, companies are reportedly allocating 8% of their marketing budget to Stories.

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- If you want a most basic Story how-to-tutorial, give Alex Tooby’s a try. She’s Canadian, so you can trust her :)