Author Julia Pimsleur is on a mission to help one million women get to $1 million in revenues by 2020.
In "MILLION DOLLAR WOMEN: The Essential Guide for Female Entrepreneurs Who Want to Go Big" she shares her story of building her company from scratch into a multi-million dollar business along with the stories of seven other businesswomen who did the same.
Countless mothers of young children have surprised themselves by creating professional opportunities while they've been home with children. Others have impressed themselves and others when they demonstrate how their organizational abilities at work translate well on the home front, in locating the right support network and helpers to make both work and home function smoothly.
After spending time in the corporate world, many women choose to open their own businesses so they have more control over their time.
Even though American women have started businesses at nearly twice the rate of their male counterparts over the past twenty years, it remains that only 3% of female business owners ever make revenues north of $1 million dollars and only 7% of venture capital is invested in businesses run by women.
"Financial freedom is one of the last front lines of feminism," says Julia. "Most women entrepreneurs are running kitchen-table businesses and just getting by, or worse, running out of cash and shutting down."
Studies show that women-owned firms are less likely to take in outside financing, including loans, angel investments, and venture capital, in the course of the company's life. There is a direct correlation between the amount of capital a business has and its chances of earning high revenues. No wonder 97% of women-run companies have no employees and revenues of less that $250,000 per year. But it doesn't have to be that way.
There are four questions that can guide you in deciding which kind of capital is right for your company:
1. What forms of capital should I consider?
2. When is the right time to raise money?
3. Where do I learn the fundraising dance?
4. How much equity and control will I have to give up?
Regardless of the type of investor you are approaching--angel, venture capital, family fund, or your cousin Greta--you need to inspire them with your passion, dedication, and big vision for your company. Brian Cohen, chairman of the much-sought-after group New York Angels, sums it up: "Before I write you a check, I want to feel something."
With friendly, pragmatic advice, ample humor, and an appendix of exercises to turn ideas into action, MILLION DOLLAR WOMEN is a vital resource for those who want to go big with their business.
When Doing It All Won't Do: A self-coaching guide for career women. (ebook edition $0.99, Workbook Edition in paperback $13.41)
