Boss Lady

Sisters are doing it for themselves

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According to ABS data, an increasing number of women are choosing to ignore the corporate option for employment. Instead, they are opting to be their own bosses and building businesses of value for themselves. Many speculate this is because the glass ceiling is not cracking as quickly as those at the coalface would like. Regardless of the reason, it’s happening…

34.8% of business owner-managers are female and this is up 46% in the last two decades. Unless corporate leaders turn this trend around, they could find themselves being perpetually regarded as an unattractive choice for one of the two most basic employment options available to them – women. Given companies in the top 25% for gender diversity on executive teams are 21% more likely to create above average profitability (McKinsey & Co) it’s only a matter of time before shareholders begin to demand action.

But what of the 34.8% of female business owners? Driven away from corporate employment, they must find a way to make their ventures work. Like most business owners, many have a great idea without possessing the additional knowledge required to create a profitable business.

Enter the mentor.

Helen runs a business relocating sport stars to wherever their next contract is based. She learns their needs, schedule and preferences before activating her plan to make it all come together. At least, that was the theory…

Early on, she realised her great idea wasn’t coming together as anticipated due to insufficient customers and inadequate systems. She selected a mentor based on her connections and wisdom and their journey began. Her mentor asked all the right questions, some were uncomfortable, and her answers helped formulate a business plan that would see her reach her goals sooner. Plus, her mentor introduced her to key people in a number of sporting club.

Helen’s business is now on top of the world.

5 Ways Mentors can make a Difference to Your Business

  1. Share their experience
  2. Introduce you to key people
  3. Challenge you & test your ideas
  4. Stretch your thinking
  5. Give you clarity & focus

It is proven that mentoring can give a business owner a competitive edge. Why is that you ask? Well its logical, if you don’t have to waste time making mistakes & you don’t have to spend hours to connect with certain people, then you become profitable faster.

One of the key challenges for women leaving corporate to establish their own business is learning not to do it all themselves, to outsource and find that cheer squad early on. Mentoring will help you establish what you need and ideally connect you with the people who can help.

Business in Heels is passionate about empowering businesswomen & mentoring is a proven way o fast-track results. Launching Mentor Mornings in Sydney & Melbourne this 2020. Your chance to have a coffee with an amazing female leader or business owner. For more details go to www.businessinheels.com

About Lisa Sweeney

Lisa Sweeney is an inspired networking professional building a business, Business in Heels, to support entrepreneurial women world-wide with resources opportunity and choice. I negotiate win-win deals for businesses looking to further their reach through our face to face events and social networks. We aim to help woman in business be successful on a global stage with equality.

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