Women in the Business Arena™ EP114: Why Only 12% of Women-Owned Businesses are Making Over 100k & How to Change It (Part 2)
“Women are struggling to make more money in their business because they’re hitting a lot of mindset blocks.”
This week we wanted to talk about the internal factors holding women back from reaching financial stability.
Last week we began a three-part series discussing the reasons for the following statistic: Only 12% of women-owned businesses are making over $100,000 a year in revenue, including expenses and taxes.
Last week we addressed the systemic issues that are getting in the way of a woman’s entrepreneurial success.
This week we wanted to address mindset, value and the internal blocks that keep us from reaching greater financial goals. Sometimes we sabotage ourselves.
It is time for us to reclaim our power. The sooner we become aware of our internal struggle, the sooner we can identify and remove the mindset blocks that are standing in the way of long-term sustainable success and reaching our goals.
“It’s so important to pause and be intentional about mindset because it’s driving your perceptions all day long. If you’re not conscious of what those filters are and actually interrupting some of those negative patterns, then you’re living somebody else’s story of what money, business, and success are.” - Laura Shook-Guzman (12:22 - 12:43)
The mindset is the filter that determines how you perceive anything and everything. Your responsibility is to understand how you have allowed external messages and your experiences to impact your internal perception and block you from success.
Here are some of the most common mindset blocks women develop and in this week’s podcast we share some of the ways to overcome them.
A Struggle with Self-Value. This comes in many forms, such as struggling to charge what you are worth, being unable to define your value or failing to set proper boundaries in your life and business. Many women prioritize others over themselves. They devalue their voice, their mission and their purpose.
Over-delivering. Often times the way we devalue ourselves specifically comes in the form of over-delivering. Women naturally tend to overdeliver, especially in the realm of family responsibilities and client relationships. Over-delivering leads to less time and less money and can sabotage our progress to more financial success.
Unrealistic Goals. It’s only natural that women in the business arena focus on shooting for the stars. But keeping ourselves grounded is the key to gaining sustainable momentum and financial success. There is a lot of illusion out there about what it takes to be financially stable and free. We need more reality and understanding about what it takes to succeed.
“We’ve got to get more realistic about where we actually are and the next leg to the place we want to go.” - Sonya Stattmann (34:45 - 34:51)
Entrepreneurship is a powerful process of self-actualization. Sometimes we are so afraid to acknowledge where we are because we are not where we want to be, but becoming more aware of this reality is the only way to build a bridge to the life and business we want.
When we are aware of where we are and the gap between there and where we want to be, then we can change it. We need to reclaim our financial freedom and power.
How to get involved
- Join the Women in the Business Arena Group on Facebook and continue the discussion starting next week!
- Reach out to us - we’d love to hear more about where you’re at in life and business! Find out more here!
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