Show Me the Money

Show me the moneyThanks to guest blogger, Toni Nelson.

Many of the things we were taught as children affect our lives in a variety of ways. And, when we become adults – running our own businesses – they continue to influence our decisions.

For example, when I was growing up my mother always said “save for a rainy day”. Another great piece of advice was to “make sure you always pay your mortgage”. Mothers have such wonderful pearls of wisdom!

When it comes to money, I think many of us got great advice from our mothers.

Maybe that’s why, according to the Small Business Administration, women use less money to start their businesses then men do. There have been a number of studies done and according to the results fewer women than men required funding. And, those women who look for funding used it less.

You might find this fact interesting:

  • Three out of ten women do not need funding to start their business. What about men?
  • Two out of ten men do not need funding to start their business.

Then there’s this interesting statistic:

  • Only 5.5% of women starting a business received a business loan. For men starting a business the percentage was larger – 11.4%.

After reading these stats I started thinking back to when I was raising children. My friends and I would look for ways to save money. One way we did it was by using coupons.

So, I came up with the idea to have a coupon party. It was so much fun! It was a great way to get together, save some money and brainstorm other money-saving ideas. Everyone brought their coupons and traded them for ones they wanted or needed. For example. I had a stack of coupons for diapers that I didn’t need. My girlfriend had a baby and was anxious to have them. It was a win-win for all of us!

My friends and I were always looking for creative ways to save or money or stretch our dollars.

And, I believe that’s what we do when it comes to our businesses. We get creative and find ways to make it work.

There were times we’d all get together and buy items in bulk and then split them up between us. Sounds like a community to me. Isn’t that what we build in our business? A community?

Integrating the things we do for our families into our work ethic enables us to push through the tough times in our business.

According to statistics, before the recession women weren’t that involved in social media. During and after the recession they were using social media at a higher percentage rate. Why do you think that was? They were looking for ways to actively make a difference in their communities and social media was a great way to achieve that goal.

There’s no doubt in my mind that as women we juggle many things. We can hear two conversations at the same time and understand them both!

This article came about partially because I keep hearing women say they can’t start a business because they don’t have the money. I think it’s important for them to realize that they are already doing things in their life with less money than the next person.

On a daily basis I read about those women who face challenges in their businesses and successfully OVERCOME them. It’s how we face and conquer those challenges that makes us stronger and more determined.

We realize there’s more at stake than just our business. It’s the future we are building for our children and grandchildren. By the power of words and examples we set, we show them there’s a world of possibilities and opportunities available to them.

I think that’s a good thing don’t you?

How do you save money in your business? Please share your thoughts and comments below. I’d love to hear from you.

Be savvy and successful!

Toni NelsonAbout Guest Blogger Toni Nelson: Toni is an award winning videographer, creator and producer of The MINE System of Learning. The MINE System is a series of video courses designed to sharpen your skills so you can stand out from the competition and attract more clients on multiple platforms.