“One woman can change many things; many women together can change everything.”
Women for Women International
Today is the 101st anniversary of International Women’s Day, a day created to inspire women and celebrate achievements on a global level. The International Women’s Day tagline is Connecting Girls, Inspiring Futures. So this post is dedicated to the thousands of girls and women that love their cameras, are passionate about photography, and want to use their passion to change the world.
According to the National Association for Women Business Owners, women own 40 percent of all privately held firms here in the US, imply more than 13 million people, and generate $1.9 trillion in sales. Yet most – 97 percent – have revenues below the million dollar mark. In other words, women create businesses to replace their “jobs” that aren’t flexible enough to allow them to do all they need to do, yet don’t have what it takes to grow them into serious money-generating businesses.
While the idea behind this post isn’t to help you create a seven figure business, creating a six figure business is more than doable, and is something you can strive for within a short period of time – two years or less. What should you put in place right now to help you grow to the six figure level?
Watch your numbers.
Do you know what your current profits are? Your ROI? Your net sales? Your cash flow? How about how much profit you make on each product and service you sell? The more you understand your numbers and watch how well your business is doing, the more you can change things as they happen to keep your business on a straight path. You don’t need an MBA in order to understand the financials. Use a great accounting system – I use Wave – which will make it easy for you to track and watch your reports. Or hire an accountant who can keep you up to date on what’s important, without having to learn the accounting details yourself. [Read more...]