Connect with us

Entrepreneurship

What Every SMBs Need to Know About Debt and Growing their Business

Published

on

Starting a business in the world might seem easy, thanks to the power of the internet, automation, and lowered costs — but that isn’t to say it’s easy to find success and profitability with that same business. With more businesses starting daily, this leads to a larger increase in competition, and a great number of SMBs who aren’t potentially ready for the fierce competition, compiling costs, and debt that might be right around the corner.

While most aspiring small business owners would love to launch a passion venture and not worry about how to pay for it, this is not the reality. According to the Small Business Administration, there are 27.9 million small businesses in the United States compared to 18,500 firms with over 500 employees. Those small businesses took out a combined $600 billion in business loans in 2015, and another $593 million from alternative means like finance companies and peer-to-peer lending platforms.

At the same time, it’s also important to take a look at the number of startups and closures, and survival rates for businesses in the world today.

But despite the various loan options that exist, securing enough of the right debt is challenging. Yet, as the old adage says, ‘you need to spend money to make money,’ and without borrowing, it’s difficult for any business to grow their operation.

To ensure your business borrows for long-term success without jeopardizing long-term cash flow, here are six things to know about debt.

Good Debt vs. Bad Debt

Generally speaking, good debt refers to debt that can yield long-term income or growth in value whereas bad debt will not. For consumers, good debt might be a mortgage where bad debt would be a revolving credit card balance. In the business landscape, it’s a little more nuanced and dependent on the specific company. You can learn more about the differences between these two here.

An example of good debt might be a company taking on debt to invest in certain employee programs, as the implementation of the program could lead to improved morale and better retention. It could also be debt used to do research and development for a new product since a new product line would generate more future income. A bad-debt scenario could be the result of a business taking out a loan for a larger business space that they don’t end up filling or using adequately. Or a double whammy: paying for nice office space in a prime location when clients never see the office.

These situations can go on and on, and really hinge on the execution that does or does not take place after a loan is taken.

Healthy Debt-to-Income Ratios

Every business—even two competitors—have differences that affect what a healthy debt-to-income (DIY) ratio should be. Businesses might need different levels of debt depending on a multitude of factors.

So, while not a hard-and-fast guideline, generally speaking, businesses with DTIs under 1 have more stable debt levels while a ratio above 1 indicates that a company is more reliant on their debt. Calculate your business’ DTI at any time by taking your monthly recurring debt payments and dividing it by your monthly gross income.

You Have More Leeway with Creditors Than You Think

Many business owners and individual debtors never try to improve on their existing terms or ask their creditors for any kind of compromise, even if it means falling behind on loan payments. But at the end of the day, banks want to see you succeed, if for no other reason than it means they’re getting their money back. If you’re proactive about needing aspects of your loan modified before you encounter difficulty paying it, you’ll stand a much better chance of striking an agreement.

It’s important to remember that creditor negotiations are a case-by-case basis. Whether you’re trying to lower your interest rate, get a one-time payment grace period, or extend the repayment cycle, communicate how changing the loan will impact your business positively.

You Can Consolidate Your Debts

Even if you’re keeping pace with your loans, juggling too many of them can be taxing, not to mention increase the chances you miss a payment date or don’t have the cash flow you need at a certain time of month. Debt consolidation loans condense your monthly payments, due dates, and potentially, can net you a lower overall interest rate.

To learn more about this, also see my article on line of credit vs taking out loans.

Small business owners can attempt debt consolidation by taking out a private loan (though, a high credit score will be needed for favorable interest rates), opening a balance transfer card with interest-friendly (possibly free) introductory period, or seeking assistance through companies like Andrew Housser’s Consolidation Plus, part of the Freedom Financial Network.

Layoffs Are Always a Consequence

Small businesses are like tight-knit families. Limited bandwidth and resources mean that employees develop a sense of pride and camaraderie in working together (at least, when a business does well). And unlike a large company where turnover is rampant, employees tend to work for small businesses much longer.

Of the 5.6 million employer firms in the United States in 2016, organizations with fewer than 100 workers accounted for over 98 percent of the workforce. When small businesses take on debt to scale the operation, they need to understand that they’ll need to cut costs if the investment doesn’t pay off. Layoffs are a realistic consequence. And when a SMB starts laying people off, company morale will take a dive and could lead to lost productivity and even further turnover.

According to data from the Census Bureau’s Annual Survey of Entrepreneurs, there were 5.6 million employer firms in the United States in 2016.

  • Firms with fewer than 500 workers accounted for 99.7 percent of those businesses.
  • Firms with fewer than 100 workers accounted for 98.2 percent.
  • Firms with fewer than 20 workers made up 89.0 percent.

This also isn’t just limited to small and medium sized businesses. Statista just recently had a report on big name companies like Tesla, eBay, Paypal, and more — all of which are leaving their employees hanging on whether or not they might have a long term relationship with the company.

Chapter 11 Bankruptcy Is a Last Resort

The thought of your hopes and dreams culminating in a bankruptcy court proceeding is certainly disheartening. However, chapter 11 becomes a viable strategy for business owners whose personal possessions are entwined in their business as it aims to restructure business debts to make repayments more manageable going forward without it sinking their business.

Just because taking debt is a necessary evil the majority of small businesses must face doesn’t mean it should be done so lightly. Leave no stone unturned in your search for a small business loan and consider these things above as you do so.

The Best Ways to Approach Debt Loss and Management for Your Company

No matter what position you might find your business in today, it’s important to realize that the first step in cleaning up an potential messes, is to ask for help.

This can be from people within your company, outside advisors, and of course — financial and legal institutions.

To learn more about managing company funds and debt, be sure to check out my other resource guide on paying off company debt.

Continue Reading

Entrepreneurship

Business Investment Strategy 101: How To Fund Your Small Business?

Published

on

You don’t need to be a financial expert to realize that there’s something wrong with the economy, and traditional solutions aren’t working anymore. Things keep getting more expensive, and wages are steadier than ever. More and more people are starting to realize that the answer isn’t a 9 to 5 job, and if they want a more secure future, they’ll have to do more. Investments are becoming more popular among the middle class, and people are starting their own businesses everywhere to secure a better future for themselves and their families. Yet, it’s not that easy, and to start a business, there’s much that needs to happen. The first problem most encounter at first is how to fund their small business, because you are going to need some form of capital to do that. It’s not easy, but it’s definitely doable, and this is how you do it.

Do it yourself

Might seem like a no brainer, but your first approach to funding your project should always be doing it yourself.  This can keep you going for a while until a more extensive source of funding comes along, but it can definitely be done. You can do so by going through your assets, if you have any, and selling whatever you can of it to get that initial boost needed to get the business going. This is why saving from an early age is always a great thing to do. That can include a savings account, some gold you have stored, an apartment somewhere or a piece of real estate that can get you some money, and so on. You could also resort to zero interest credit cards; it’s definitely not the easy way out, but it’s your own project and you’ll need to invest in it one way or another at some point.

Crowdfunding

Crowdfunding has been quite the popular approach to starting businesses over the past few years, and plenty of companies are doing it and are killing it through crowdfunding campaigns. If the project is creative enough, and has enough promise to it, you’ll find that plenty of people are willing to help you. Sites like Kickstarter.com can help you get to your end goal of a starting capital, and they’ve funded hundreds of projects since they first came to life. It isn’t exactly a long term solution though, and it’ll only get you started, but you’ll have to make your own way after that.

Loans

You knew eventually this one would come up. Nobody likes taking loans from banks, but sometimes they’re the only option you’re going to get. Fortunately enough, lending restrictions are not that tight for all banks. Some offer easier rules and procedures, but you never know what comes with that. Bank loans aren’t your only option though, you can get an inheritance advance on that money that’s taking months, maybe even years, to get processed in the courtrooms. Probate is the legal process in which assets are transferred from a deceased person to their heirs, but this happens through legal proceedings through a court which decides if all things are in order and who should get what. The option of an inheritance loan can come in handy, and after you finally get your inheritance, you can pay it back.

While some people don’t like bank loans for their high-interest rates, they might not also have any impending inheritance. But there’s another option of title loans, which is basically when you give up ownership of your car or vehicle title, temporarily, and you get an amount of money for it. Title loans have a lot of pros and cons, but one of the most important pros is the fact that the lenders don’t put too much weight on credit history. You might have to pay higher interest rates in that case if you have a bad history.

Friends and family

There’s always the option of borrowing money from friends and family, and it’s probably one of your easier outs. Unless your family consists of some seriously bad people, it’s highly doubtful that they’ll charge you for interest rates, or put you away if you’re behind on payments.

Angel investors and accelerators

This is probably how most startups get their money these days, and it’s one of the most eloquent paths you could take to raise money for your startup. You need some really good connections and a powerful, scalable model to reach out to either, though. An angel investor is a person, or a company, that will basically give you the money in exchange for owning a piece of your business. So, they need to see that your business has potential and can actually grow into something big that will make their investment worthwhile. The same goes for accelerators, as they also own shares in the company in exchange for initial funds. This is why the process of planning out your business and having a solid plan for the future will come in handy when you do need the money.

Competitions

Startup contests are also another excellent way to go about getting that initial funding your business needs. Some competitions only need an idea for an entry, but it has to be something really special. Others require a scalable and clear picture of how your business will unfold in the future. Whatever the case may be, if you do all the right things and get all the necessary details in order, you can get your initial funding without having to pay anyone back.

Plan ahead, work hard

The truth is, everybody wants to start their own business and make it as an independent entrepreneur, but very few actually make it. It’s a lot of hard work and sleepless nights of planning ahead to what might be your key to financial security. It won’t come to life overnight, and even if you somehow managed to secure the initial funding, you have to know what you’re doing. If you’re just winging it and hoping for the best, you’ll have very little chance of success.

Continue Reading

Entrepreneurship

A Look at the World of Influencer Marketing through the Mind of Tal Melenboim

Published

on

Entrepreneurs are facing growing challenges to succeed. They have had a much more difficult time raising capital in the aftermath of the great recession. As a result, they need to operate on leaner budgets while starting a new business. This means investing in marketing strategies that yield the best possible ROI.

Influencer marketing is one of the most valuable ways to grow a brand. Tal Melenboim created a new influencer marketing project called Zoe Dvir, which helps promising entrepreneurs on shoestring budgets grow their customer base.

Tal Melenboim created Zoe Dvir to help entrepreneurs with their influencer marketing strategies

Businesses in every vertical have discovered the benefits of influencer marketing. According to one study, nearly 40% of marketing managers intend to invest more heavily in influencer marketing in the coming year. This figure is eight times higher than the number of marketers that plan to decrease their influencer marketing budgets.

However, many marketers have struggled to gauge the effectiveness of their influencer marketing strategies. There are a couple of reasons that traditional influencer campaigns have failed to pay reasonable dividends for marketers:

  • They often need to pay substantial fees to promote their campaigns with well-known influencers. These costs can you eat into their bottom line.
  • Some influencers aren’t interested in partnering with many companies. They may refuse to help promote specific brands for any number of arbitrary reasons.
  • Some influencers might have a lot of reach with the wrong audience. Their followers might be the wrong demographic, which means that the fees you pay to them could be totally wasted.

These factors complicate things for influencer marketers. Tal Melenboim recognized the obstacles with traditional influencer marketing, which inspired him to create the Zoe Dvir project.

Here are some of the benefits of this influencer marketing approach.

Entrepreneurs will get their brand in front of a much more appropriate audience than many other influencers can offer

A lot of influencers are overhyped. Despite charging substantial amounts of money, they don’t have a tremendous pull with many business owners’ target demographic. Some of the most widely followed users on Instagram have drawn a following from a very heterogenous audience. Business owners that work with these influencers will have to pay a premium, even though many of those followers have zero interest.

Tal Melenboim is a leading expert in digital marketing. In fact, over the years he’s even had eight different patents under his name in relation to various internet marketing and content creation methods.

When Tal Melenboim developed Zoe Dvir, he focused on creating niche Instagram accounts. He develops computer generated images and caters the content to certain industries. As a result, the followers are going to be highly interested in the content companies in the respective industry is promoting.

Tal Melenboim created a much more cost-effective approach with Zoe Dvir

Traditional influencer marketing campaigns involve forging relationships with major third-party influencers. The biggest downside to this approach is that they have little control over the fees those influencers will charge. They might be able to negotiate more favorable agreements if they can promise long-term Partnerships, but particularly notable influencers still tend to have more bargaining power. This means that marketing agencies need to pass those costs along to their clients.

The system that Tal Melenboim created is more conducive to the budgets of startups. Zoe Dvir uses computer generated images to create influencer accounts. This approach is much cheaper than getting a real-life model to create content to build an account from scratch. Of course, even that approach would have been a lot cheaper than depending on established influencers.

Since Tal Melenboim can quickly build Instagram accounts with virtual models, he can essentially cut out the middleman. He doesn’t need to pay the significant overhead associated with working with prominent Instagrammers. Therefore, brands using Zoe Dvir find it is much cheaper than other agencies.

Engagement with virtual Instagram model accounts can be excellent

Many people are skeptical that using computer generated images from Zoe Dvir can help their brand. Their skepticism is understandable because previous studies have shown that people prefer engaging with images of real people.

However, that bias does not seem to extend to virtual Instagram model accounts very much. Instagram accounts that use virtual models are actually surprisingly engaging. According to Tal Melenboim, research shows that they can actually be even more engaging under the right circumstances. The most influential virtual Instagram model has 29% higher engagement rates than similar looking models.

This means that companies using Zoe Dvir to get their brand name out can expect great reception. Followers will appreciate the message about as much as they would with any other Instagram influencer. They just won’t have to pay an arm and a leg for it.

 

The Instagram accounts that Tal Melenboim has created aren’t region specific

One of the biggest challenges with many online influencers is that they cater to followers in a specific part of the world. This can create a quandary for brands that want to engage with them. Those influencers might be ideal for brands trying to build a presence in a specific new market. However, it can be a waste of their budget if the majority of their followers are located outside their own target market sphere.

This is an underappreciated benefit of the system that Tal Melenboim created. He was able to build Instagram influencers that are not tied to a very specific region. This opens a lot of doors for brands that are looking to expand their reach with Zoe Dvir.

And this is also something to heavily put weight on, as the numbers over at Instagram continue to rise month over month.

Entrepreneurs that use these Instagram influencer marketing strategies can expect more stability with their promotional campaigns

Prominent Instagram influencers can be charismatic, persuasive and engaging. Unfortunately, they also bring a number of quirks to the equation, which can be detrimental to the brands that are trying to work with them.

They might have truly bizarre reasons for refusing to collaborate with certain brands. They might also postpone certain promotional campaigns because they have other priorities that take precedence.

The diva mindset many influencers bring to the table can be very stressful. Tal Melenboim made this observation, which is one of the reasons he started building accounts with virtual Instagram users instead.

Tal Melenboim maintains complete control of the accounts. Marketers working with Zoe Dvir are not at the mercy of third-party influencers that call the shots. This provides a lot more stability to entrepreneurs that want assurance their promotional campaigns will go along as scheduled.

Continue Reading

Entrepreneurship

7 Female Entrepreneurs and Women in Business to Follow Throughout 2019

Published

on

Women in business are now gaining more attention than ever before. It’s not just about a movement, it’s about women taking the opportunity to branch away from the standard, and also create business and financial decisions of their own.

What that in mind, what’s new in 2019? Who is making a scene or create waves among women entrepreneurs?

We scoured the web to see who’s hot and who’s not. We came up with these 7 top female entrepreneurs and business women.

Be sure to check out their sites and social media pages to learn more about why they’re considered “hot stuff” in 2019.

1. Isabel dos Santos

Isabel dos Santos is a world-famous entrepreneur, who gained attention for her business expertise and history in Angola.

In addition to various business and financial success, like many successful entrepreneurs, Isabel is also now focused on the better well-being and improvement of those around the world. Not limited to just equal pay and women’s rights in the workplace, but also heavily focused on Angola humanitarian efforts as well.

View this post on Instagram

Todos temos um sentido de missão com quem nos rodeia. Os nossos colegas, vizinhos, comunidade… este é espírito que eu defendo não só como mulher e angolana mas como empresária, e que transmito às minhas equipas. Na Sodiba estamos perto da Zona 3 do Bairro do Bom Jesus. Uma comunidade que nos dá tanto em alegria. Desde os pequeninos até ao Soba. E nós apoiamos o Bairro e estamos dedicados a estas famílias, desde que aqui chegámos. Temos feito actividades com os meninos, demos presentes, entregamos cabazes, ouvimos as suas histórias e sabedoria e queremos fazer ainda mais. Dar um pouco de nós todos os dias e assim fazer a diferença #SharingbyIsabeldosSantos #Sodiba #ResponsabilidadeSocial #Angola We all have a sense of mission with those around us. Our colleagues, neighbors, community … this is spirit that I believe in not only as a woman and Angolan but as a businesswoman, and that I pass it on to my teams. At Sodiba we are close to Zone 3 of Bairro do Bom Jesus. A community that gives us so much joy. From the little ones to their Soba. And we support the neighborhood, we are dedicated to these families, since the day we arrived here. We have had activities with the children, gave them presents, basic goods for their day to day life, we listen to their stories and wisdom and we want to do even more. We give a little of us every day and thus make a difference

A post shared by Isabel Dos Santos (@isabel_dos_santos.me) on

Today, Isabel dos Santos is the board member of a number of companies in Portugal and Angola. She also owns stakes in affluent businesses, which include ZAP, (a digital satellite television company), Candando (over 1,500 employees), Sodiba and also EFACEC — which is the largest Portuguese corporation in the field of energy, engineering and mobility, with many subsidiaries of strong presence in different international markets. In addition to all of this, Isabel dos Santos also shifted her focus on women empowerment and growing such opportunities through one of her businesses at Zap, which has been a major focus as of lately.

View this post on Instagram

Hoje é o último dia do Março Mulher, um mês de muita importância para mim. Lembro para todas as mulheres que se devem destacar, fazer mais e melhor, nas nossas empresas, nossas famílias e comunidades. Poder ver as nossas pessoas crescer como a Maria é um motivo de orgulho para nós na Zap. A Maria começou como assistente de loja e hoje é chefe do Departamentro de Contact Center. Nós acreditamos nas mulheres angolanas, investimos nelas através da formação. Queremos dar as melhores oportunidades para que um dia também possam dizer como a Maria: “o que eu faço é sempre com orgulho, é com amor. Eu digo que eu não sou a Maria Antónia, a Maria Sebastião. Eu sou a Maria da Zap”. Veja a história dela. #SharingbyIsabeldosSantos #Zap #Formação #FuturosLíderes #WomenEmpowerment Today is the last day of March Women, a month of great importance to me. I call every woman to stand out for themselves, to do more and better, within our companies, our families, our communities. Being able to see our people grow as Maria makes us so proud at Zap. Maria started as a shop assistant and today she is head of the Contact Center Department. We believe in our Angolan women; we invest in them through training. We want to give the best opportunities so that one day they can also say like Maria: "What I do is always with pride, it's with love. I say I'm not Maria Antónia, Maria Sebastião. I'm Maria Zap”. Watch her story.

A post shared by Isabel Dos Santos (@isabel_dos_santos.me) on

In November 2015, the BBC named Isabel dos Santos as one of the 100 most influential women in the world.

Be sure to keep an eye on Isabel be throughout 2019. And if you are interested, you can also learn more about her here.

2. Sheryl Sandberg

Sheryl Sandberg cut her entrepreneurial teeth by working with Facebook as the #2 in charge in 2008. No one knew whether Facebook would be successful or not back then. But, with her at the second to the top, the company’s user base increased more than 10 times the size.

With such success under her belt, today Sandberg is also looked up to as an influential female entrepreneur for other women around the world as well.

View this post on Instagram

It’s #EqualPayDay. Let’s review the facts. ??? ??? Women in the United States had to work all of 2018 and this far into 2019 to earn what men did in 2018 alone. The pay gap exists across income and education levels – it’s largest for women with bachelor’s and advanced degrees. And it exists across industries, hours, and ages. Even when women get degrees, enter high-paying fields, and put in long hours on the job for years, that still doesn’t erase the gap. No matter how you slice it, women as a whole are paid less than men. And for Black women, Native American women, and Latinas, the pay gap is even wider.??? ??? If ever there was a cold, hard fact about our economy, this is it. And it must change. ??? ??? Equal pay is an economic issue: the pay gap can have a profound impact on a worker’s income, especially when compounded over a lifetime. For families looking to buy a house, send kids to college, save for retirement, or just have a little financial breathing room, the pay gap makes that harder. For single moms raising families on their own – and there are millions across the country – it cuts even deeper. ??? ??? And equal pay is a moral issue. It’s just plain wrong that one gender is consistently paid less than another. For anyone looking to reduce inequality, closing the pay gap would be a major step forward.??? ??? Year after year, we mark Equal Pay Day. And year after year, the pay gap persists. Still, there are signs of progress. Leaders here and abroad are making equal pay a priority. It’s more important than ever that we increase awareness. Join me in sharing the facts about the pay gap. Let’s bring more people into this fight. We can’t get to equality without equal pay.

A post shared by Sheryl Sandberg (@sherylsandberg) on

Now, because of her efforts and others, Facebook is considered one of the most wealthy and powerful companies in the world.

Today in 2019, Sheryl Sandburg is estimated to have a net worth of over 2 billion dollars and has written best-selling books for women entrepreneurs such as Lean In: Women, Work, and the Will to Lead.

You can find out more about Sandburg by following her Instagram account.

3. Tory Burch

Tory Burch is considered one of the top 10 female entrepreneurs of 2019 by the publication, “10xfactory.com.” There is a good reason for this. She is an American fashion designer as well as a businesswoman and philanthropist. She has her own company known as Tory Burch, LLC which features some of the best fashion styles she’s created that reflect different cultures of the world.

She was listed as the 73rd most powerful female in the globe by Forbes in 2015 and she continues to create inventive items that get the attention of the fashion world.

Find out more about Tory Burch on the Tory Burch Social Media site and follow her on Facebook and other media outlets.

4. Cher Wang

Cher Wang comes from Taiwan and is the co-founder of the HTC Corporation. HTC worked with the Microsoft Corporation over the past decade to develop the Windows phone with the HTC operating system on it, as well as the integrated chipset with VIA Technologies.

She graduated from the University of Berkeley in California and Forbes Magazine estimates her income, along with her husband, Wenchi Chen’s income, at around $850 million dollars.

Follow Cher on Twitter and find out how she made a monstrous deal with Google in 2017 that changed the way both companies operated in a big way.

5. Angie Hicks

Angie Hicks’s name may not be familiar by itself, but she is better knows as “Angie” of Angie’s Home Services.” People who are looking for help around the house to tackle big jobs or looking for specific types of help, always look to Angi for suggestions.

Celebrity Net Worth states that Angie is worth around $190 million. Not bad for a small town lady who started out as a simple business person.

You can find out more about Angie and follow her on Facebook to keep up with Angie’s work and achievements.

6. Oprah Winfrey

Oprah Winfrey (better known to her fans only as “Oprah” has maintained her status of one of the top women executives and businesswomen of the world for over 2 decades. She has an estimated net worth of over 2.5 billion dollars, and she held the status of the richest woman in the world for a while. She still holds her OWN (no pun intended) and finds time for philanthropy work as well.

Oprah started out as an actress in “The Color Purple,” one of the early films of famous and well-acclaimed directors, Stephen Spielberg, and she quickly rose to fame as a talk show host, TV producer, and executive following this.

The original Oprah show no longer runs on the ABC network. But in its place on her own network and time slot is a new network run exclusively by Oprah called “Own.”

You can find out more about Oprah by following her Twitter feed.

7. Sara Blakely

Sara Blakely is the founder of the Spanx company who has appeared on the “Shark Tank” show to display her idea for form-fitting undergarments that help women look shapely and slim underneath everything they wear.

This idea emerged from Blakely when she confessed to having spent over $5,000 trying to find something flattering to wear under white pants.

View this post on Instagram

Sometimes it's not about what you know but what you have to give. When I started @spanx I had $5,000 set aside in savings and I'd never taken a business class. I started as a frustrated consumer who was looking for better undergarment options under my clothes. But after standing on manufacturer’s floors and learning more about the industry (I grew up on a beach and knew nothing about the industry) I realized the people making our undergarments didn’t seem to care about how we felt, at all. I went from frustrated consumer to passionate women’s advocate. I really cared about how women felt in their clothes. I cared about giving women better options that allowed them to wear any color, fabric and style clothes with confidence. Did current undergarment options make us feel confident in our clothes? Were thongs really the best answer to visible panty lines under white pants? To me, the answer was "no." And I wanted to do something about it. @Spanx was really one of the first brands that talked TO the consumer rather than AT the consumer. I wanted it to feel personal, because it was personal. If you're starting a business or inventing a product, it's not about how many investors you have or even how much experience you might have.. it really all starts with how much you care. ??#Entrepreneur #MondayMotivation #Inspiration #Motivation #ICaredTheMost #SPANX

A post shared by Sara Blakely (@sarablakely) on

Today, Spanx boasts a whole line of shapewear and it can be seen in stores across the U.S. including the exclusive Neiman Marcus stores. But she didn’t stop there. To date in 2019, Spanx is being sold in 65 countries around the world!

She now serves as a guest investor on ABC’s “Shark Tank” where she began “on the other side,” and she sometimes invests in startups with other female founders. She is estimated to have a net worth of $1.1 billion.

Follow Blakely on her Facebook page to see what she’ll do next.

Summary

We hope you’ve enjoyed this rundown of seven great female entrepreneurs and businesswomen to follow in 2019. We could have picked many others, as women seem to be taking the business world by storm lately. But this will do as a great sampling of what women are doing in the business world today.

If you are a woman and have big goals for the future, don’t despair. There are still plenty of opportunities and industries that are clamoring to find the next Oprah or Cher Wang.

All of these women started with something simple, but they grew their business idea until they made it their own and rose above the crowd to show the world that they were special.

What makes these women unique? As one female entrepreneur said recently, “We’ve got to stop apologizing.” She was referring to the way women tend to feel as though they’ll never catch up to the men who have traditionally help more CEO and entrepreneurial roles than their female counterparts.

The reality is that women and men alike who have strong leadership qualities, a marketable idea, and the desire to pursue it, will likely make it to the top in time.

Continue Reading

Trending