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.

Debra Jason

Marketing & writing with heart, not hype at at The Write Direction
A recipient of the “Creative Person of the Year” award, Debra educates and empowers creative solopreneurs and enthusiastic business owners to create a lifestyle business that provides them with the flexibility, fun and freedom to do what they love. She also inspires you to communicate your marketing message in a way that captivates and converts your prospects into loyal, raving fans - even if you have been struggling with how to transform your ideas into words in the past.

Comments

  1. Women are definitely better than men at saving a buck or two. I think women are more cautious because we are,generally speaking, more afraid of being broke. It certainly warms my heart to see how well women are doing in business these days.
    Ann-Marie recently posted…The Good Stuff TinMy Profile

  2. Debra, women are cautious when it comes to money. But I’ve met women who absolutely know nothing about handling money. The influence of their environment and culture plays a big role. It’s important to know where every dollar spent is going and what value it’s returning for you. In business, the one thing that I’ve learned from a dear coach is “Know Your Numbers!” If you don’t know your numbers, the business will not stand! Thank you for a great post!
    Amina recently posted…To Pre-Nuptial or Not to Pre-NuptialMy Profile

  3. I know one of the things my mother taught me was to run a household with what means you have. It’s true that culture has a play in our view of money. That’s why educating ourselves so we succeed in our businesses is so important.
    Toni Nelson recently posted…Battle of the sexes infographicMy Profile

  4. Thanks for commenting on my guest post here Amina as well as checking out my infographic on the battle of the sexes:)
    Toni Nelson recently posted…Battle of the sexes infographicMy Profile

  5. Unfortunately, my Mom grew up during the Depression and she has so many negative beliefs she passed on concerning money. I have worked pretty diligently in recent years to reverse their effects on my life. <3
    Belinda Rose recently posted…Overwhelm…Help For That Frantic State of Mind!My Profile

  6. This is a great point. I’m actually not very good at saving money in my business as I think of things as an investment. Maybe I need to start looking where I can save. This post has definitely made me think. Thanks for the great idea!
    Minling recently posted…How to deal with energy suckersMy Profile

  7. Great article! I love learning about new women doing this wonderful work! I think that right now I try to do as much as I can on my own to save money in my business. When I have to outsource, I use fiverr.com, or barter with others (graphics in exchange for coaching 🙂 ) It is all about community! So important. Thank you, Toni! 🙂
    eyenie recently posted…The Magic of EFT: Tap Yourself BEAUTIFUL!My Profile

  8. I have a 5-year old daughter who I am raising to be a conscious human (I hope anyway) and one area is money. I’m so mindful of what say in front of her about money and never use the dreaded “We can’t afford that” which leads to poverty consciousness. So this is a great conversation piece. I love how you mentioned social media: I’ve really enjoyed being surrounded by women who are creating their own careers so they can have the freedom of being with their families.
    Tracey Ceurvels recently posted…A visit to Titan Foods {Baked shrimp salad with orzo + ouzo}My Profile

  9. I love the way Toni relates her community of moms saving money to a community within a business! So true. In my business, saving is part of the deal: every class provider who lists with ClickAClass offers my readers a special perk or discount. My site is always free to readers searching for classes, so that’s a bonus too! In terms of business admin, I typically stick to emailing information rather than printing (waste of paper and money), a huge savings. I will also invite business contacts on a walk rather than out to lunch — savings and better health!
    Jessica recently posted…A Beginner&#8217;s Guide to Meditation: 4 Simple StepsMy Profile

  10. I know Minling there were times I had to think about spending money on equipment. Yes it was an investment but did I need it or did I want it. I’m glad you found the article helpful:)

    Eyenie, I agree that it’s all about community. Depending on what you need Fiverr can be a great place to use for outsourcing.

    Tracey, I think it’s great that you are teaching your daughter about money. When my daughter was about 11 years old I gave her a fake salary, bills and a checkbook to teach her how to use money wisely. I can still remember her sitting in the back of the car balancing her checkbook!

    Jessica, I’m glad you enjoyed it! I think community is so important to us as individuals and as a business.

    Debra has such a great community with all of you and I really appreciate not only being asked to guest blog here but also being able to meet all of you!

    Thanks to everyone for taking the time to comment:)
    Toni Nelson recently posted…October is National Women&#8217;s Small Business MonthMy Profile

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