I attended a conference on Friday in which successful women told their stories of success and failure then shared what they learned. These women were comfortable talking about their visions, naiveté, failures and determination to move on and create again.
Bonnie created a high-end eco-friendly home furnishings catalog. It was a novel idea when she created the business more than twenty years ago. Not knowing how to select investors became her downfall. Her first set of investors pulled out unexpectedly. Another investor appeared out of the blue; the company grew quickly. It was when that investor expected her to become his sexual partner, though she was married, that the partnership failed. She declined his advances, and he withdrew his money. Her company survived through her determination and business acumen. This past March she sold the business to a larger home furnishings company and is now deciding what to create next. Whatever it is she wants to be dazzled!
Leslie started her business to solve a problem for women. With no knowledge or ability in the medical field, Sara and a friend, set out to find a solution to the “horse pill” women had to take during pregnancy. Clearly men who did not understand women created these. They created a solution; the business grew, and competitors came along. In the end, their success was driven by WHY they created the business, their passion for helping pregnant women get the nutrition they needed in a way that felt right for them. Leslie advises knowing the WHY of the business you are creating. Draw customers to that sense of purpose.
Tracy created her business out of her natural tendencies. She is an organizer, and her company has grown beyond her expectations. Her biggest challenge in the beginning was to know her value. In hindsight, she started out working for less than minimum wage because she did not know what to consider when setting her fees, and it hurt her. More than that, she was not sure of her personal value. Over the years, Tracy has learned about pricing and the nuances of running a business. For a long time, she questioned what she was doing and if it had value. When she looks back over her life, her family and her work she can see the thread that led to where she is now. It is when her customers tell her how she helped them turn their lives around that she knows she is on her path. She advises seeing the thread in your life.
Sharon worked to be the best in the accounting firm she joined out of college. She succeeded, and there was talk of partnership then she got pregnant and advancement was no longer on the table for her in this company. The partnership discussions ended. Sharon moved to a smaller firm, enjoyed the work, brought in most of the revenue and asked for a bigger share of the profits. The managing partner did not see the need to compensate her at the level she deserved so she moved on. Tired of issues around gender equity, Sharon started her own firm, is wildly successful and shares the success with her staff. She quoted Zig Ziglar “You don’t have to be great to start, but you have to start to be great”.
Lara and her husband were bold and in their twenties when they started their first restaurant. Now at four in the Bay Area they have a great deal of confidence in their partnership. Working with a partner, in her case that is her husband, means learning about yourself and the kind of partner you are and need to be.
These women inspired and offered sage advice. Here are some of the insights from other women in the conference.
- Put your own oxygen mask on first before helping others.
- Follow Suzy Welch’s Rule of Making Decisions. Consider the impact the decision will have in 10 Minutes, 10 Months and 10 Years.
- Change I to We. Doing this changes illness to wellness.
- From Mark Twain, “The two most important days in your life are the day you are born and the day you find out why.”
- Focus on why you are doing it more than what you are doing.
I heard a theme throughout the conference. Each woman was inspired by the work that she did. She was passionate and wanted to learn how to bring her passion and her ideas into the world. Her business was a form of her self-expression.
Best wishes on your success, Kay