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Only 12% of women-owned businesses are making more than $100,000 in revenue per year. That’s total revenue. It doesn’t take into account business expenses such as taxes, labor, and overhead costs. And when businesses have low profit margins the money taken home is so much less. Many entrepreneurs paint a picture of how easy it is to make millions of dollars starting your own business. But that’s not reality. When 88% of women-owned businesses are earning less than $100,000 a year, we have to step back and look at what’s really happening.
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Maintain minimal consistency for the success of your business. The culture in which we live in loves to perpetuate what we like to call the “work, work, work, collapse” model. You start pushing yourself and feeling great. But it’s only a matter of time before you collapse. Sound familiar?
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When we have a limited amount of time and energy, and an endless list of tasks, what do we prioritize to keep our business running, while staying sane? In our business journey, we will all come across times where priorities must shift, and the majority of our time must be spent away from the business. For many of us, this occurs each summer when our children are out of school for break. Last week, we discussed the mindset needed to successfully navigate these seasons in our business and life. This week, let’s take a deeper dive into the fundamentals that will allow you to keep your business moving forward during these busy seasons.
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How do we maintain momentum in our business when it is impossible to operate at 100%? Throughout life, it is inevitable that we will come up against circumstances that require us to dial back the energy and momentum of our business. Many of us our business owners and also mothers. When the summer months hit, and our children are running free for a few months, it can be difficult to manage the shift in day-to-day responsibilities while still operating a thriving business. Even if you don’t have to navigate the challenges of children and summer break, I feel confident to say that at some point there will be responsibilities that demand your time - ailing parents, health issues, health issues with family members, etc. The question isn’t whether or not there will be a time when we have to juggle much more than business. The question is, how do we maintain the momentum we have worked so hard to gain when we simply don’t have the capacity to operate at 100%?
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