I am passionate about helping more women build multimillion-dollar businesses, in part because it gives us what I call “the Triple Win”: Money, Meaning, and Mobility. Let’s look at the Money part of the equation first. I have noticed that most male entrepreneurs gauge “success” by the number of zeros at the end of their annual revenues or what they sold their company for. As women, we too want the big financial win, but we also have other priorities, and if we don’t succeed in those areas, we don’t feel we have truly won.
Doing work that has Meaning is one of those priorities. As women entrepreneurs, we want to run companies that provide solutions to problems we have grappled with in our own lives. We want businesses that put our talents to the best and highest use and that make us feel we are creating something of true value. Meaning gets us out of bed in the morning and inspires us to build companies that not only sell great products and services but have great work cultures too.
Mobility, the third element of the “Triple Win,” is also critical to our happiness and sense of having “made it.” As entrepreneurs we are willing to work twenty-three of twenty-four hours each day, but we want to choose which twenty-three and from where. This mobility, or flexibility, is what gives us the freedom to stay home with a sick child, to travel, to see our kids’ school plays, to work remotely, take the time to train for a marathon or to serve on nonprofit boards. Having the ability to move between our offices and curriculum night and a trip to Costa Rica is part of what makes the Triple Win so appealing.
We need to come back to the money part, because we are still playing catch up here. Women-owned businesses in the U.S. bring in revenues that are only 27 percent of men’s businesses. Through this blog and my upcoming book Million Dollar Women, I want to help you get to your first $1 million in revenues, and beyond – leveling the playing field as we go. When women accumulate wealth, studies show we spend it primarily on three things: hiring, investing in other women, and education (for ourselves and our children). Those all seem like pretty good reasons to get more money into the hands of more female business owners.
So now that you know what “The Triple Win” is, how will you achieve it? It really only requires that you master these two things: the right mindset and the right skills. It’s that simple… but it’s not always that easy. I am here to show you the difference between running a business that works, and running a business that works for you.
What’s the right mindset? Thinking as big as possible, believing that you can and will get that funding, or sell $1 million in product or services. You need to internalize the knowledge that you deserve success and have the skills to get there, or can find advisors, board members and coaches to help you fill in the gaps.
As you grow your business, take a moment right now to consider where your mindset is today, and if it could use any adjusting. Take a close look at your skill set to determine what your strengths are, and where you could use some help — learning the fundraising dance, for example. Keep reading this blog to help you determine how to accelerate the process of taking your business big and achieving the “Triple Win.” If you aren’t sure where you are on the journey to becoming a Million Dollar Woman, take my free online assessment to get a personalized thumbprint of which skills you might need to fill in.
Don’t compromise on any of the three elements of the “Triple Win” — you deserve them all!
Until next time,