Historically, the business world has been a “man’s world,” but women are making significant strides to break the glass ceiling and become titans of business and industry. Matt DiFrancesco is joined by three leading female entrepreneurs who belong to different industries. Together they get down to the brass tacks of the business world, where women continually face challenges when they get into the race of business growth.
Family businesses face tons of challenges every day. After the Pandemic, businesses had to make massive shifts in how they carried their operations. In the post-Covid era, though most businesses have gone back to how they used to operate before the Covid outbreak, many are still working in a hybrid model of the pre and post-Covid era. These have to continually adapt to the new normal, which requires them to tackle new challenges.
Continuing to thrive in business is hard, thus why all businesses need solid financial plans and professional advisors. If you need one, then you can schedule a free 20-minute conversation with Matt DiFrancesco from HighLift Financial to go over your family business issues.
A Brief Intro Of The Female Titans In The Business World
Amy Bradley
Amy is the president and CEO of the Cambria Regional Chamber of Commerce in Johnstown, Pennsylvania. Her organization supports, educates, advocates, and partners businesses in the area. She has witnessed many success stories of businesses that pivoted during Covid-19 and ended up being profitable. Her vast expertise and experiences equip her with a proper understanding of what appropriate measures can make a business successful, especially in the new normal after the Pandemic.
Beth Walker
Beth is the founder of the “Center for college solutions.” This group of professionals is committed to making college affordable for all families. She is also the author of “Never pay retail for college: how smart parents find the right schools for the right price.” In addition, Beth believes that future leaders can be educated without breaking the bank. Since capital planning for college is such a sensitive issue, I brought Beth onto my team to help my clients navigate the challenges of paying for college and getting accurate information regarding student loans.
Britt Schroeder
Britt is a franchise consultant with FranChoice and provides free franchise consulting services to individuals considering franchise ownership. She is also the co-author of the well-received “Franchisee Playbook.” Britt has always followed her well-laid-out process that takes a lot of listening and asking the right questions. As a result, she is one of the leading female franchise consultants who can help people start franchising with a low range of capital investment.
Trends in the Franchise world
The Small Business Trends Alliance states that 27% of small businesses or franchise owners are female. This number is growing at about 4% year over year. Britt sheds light on how she started as a franchise consultant 20 years ago.
“The ability to set control and take charge of your own destiny is a real motivator for women.”
When she began, it was indeed a man’s world. In 2007, women-owned 20 and a half percent of franchise locations. Today, it jumped up to 27%. Taking into account the husband and wife owned franchises, and the percentage has reached 41%. So, the prospects are looking quite positive in terms of franchising.
One of the primary motivating factors that Britt sees for her female entrepreneurs is stepping out into their own business gives them such a sense of self and control that we all crave. But, unfortunately, historically, women haven’t always had that opportunity. In addition, the corporate world doesn’t always provide that either.
Female startups in local markets
Since Amy is a part of the Chambers of Commerce, she frequently comes across females’ businesses. She further elaborates and shares that the husband and wife teams are pretty popular right now.
The Small Business Trends Alliance found that while 55% of all business owners are motivated by being their own boss, only 31 women share that motivation, with 26% wanting to pursue a passion and 15% being dissatisfied with corporate America.
It is challenging to find that perfect work-life balance. With a corporate job, women are always on their heels, hustling for someone else’s business and vision. However, the power of having your own business enables you to put more focus on your work-life balance. In this way, you achieve your goals while maintaining a healthier lifestyle.
Female advisors
There is a concerted effort and energy within the financial services industry to attract and, more importantly, retain female advisors. Beth shares that this industry is so bad at cultivating the next generation of advisors because the entry to the industry and the burnout rate are very high.
According to her, cultivating a longer-term apprentice type of program will be the name of the game. Focusing on bringing in women remains a significant priority for most financial services companies. However, to pursue your inner passion, you will have to overcome the fear of losing.
Schedule a Conversation with Matt
Now that you have learned about franchising, local markets, and what works for the female advisors, it’s time that you can what is holding you back and take a leap. If you are already at the beginning of your business journey or have already grown your business and need financial assistance, schedule a free 20-minute conversation with Matt DiFrancesco from HighLift Financial. If you want to get in touch with any three female professionals, you can visit their websites or contact Matt’s website.
Women can conquer any business industry, whether it is automotive or any other male-saturated one. The goal is perseverance and proactiveness. So, if you have started a business with your family, bringing them together to discuss the vision is integral. Read here about why family meetings are crucial to growing a business.
Disclaimer
The information compiled and posted here solely represents the opinions and views of the guest. It might not necessarily be similar to the opinions and views of High Lift Financial. The availability of this content only serves educational and informational purposes. It is in no way a substitute for tax or legal advice or professional investment.
Always make sure to consult your financial advisor with any queries related to personal or business planning. DiFrancesco Financial Concierge, LLC. d/b/a HighLift Financial is a Registered Investment Advisor registered with the State of Pennsylvania and subject to the State of Pennsylvania’s regulatory oversight.