How To Form a Women's Business Success Center


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How to form a Women's Business Success Center

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  • Closing Remarks
  • How To Form a Women's Business Success Center

    1. 1. Women’s Business Success Center of Memphis A Strategic Alliance of for-profit businesses and non-profit organizationsoffering business education and mentoring to women and girls.
    2. 2. Why...• Wages are lower for women.• Financial performance of women in business is lagging behind male-owned firms.• Employment in woman-owned firms is lower.• There are few woman-owned Fortune 500 companies.• Difficulty of access to capital makes partnerships critical
    3. 3. How …• Connect with networks to access human, social, and financial capital.• Share the wealth and benefits of collaboration.• Work toward establishing a financial eco-system.• Mentor women and girls in business leadership roles.• Build strength in our numbers as women leaders.
    4. 4. Who Can Partner… FunctionVenue Provide central meeting place location which is(Ex. Girl Scouts) safe, secure, clean, professional, inclusive; track data through reservation of spaceNon-Profit Women’s Organization Increase access using business owner network of(Ex. NAWBO) small, medium, and large businesses, corporate and government entities; increase access to women in leadership and leadership trainingNon-Profit WBE Organization Increase awareness and need for third party certification(Ex. WBEC South) providing connections between women-owned businesses, corporations, and government entitiesFor Profit Increase access to business assistance and training for growth-(Ex. CRG Sustainable Solutions) driven, large businesses; improve connection to contracts; promote/market to women and in the communityFor Profit Increase access to business assistance and training for start-ups,(Ex. MAP Momentum) small, medium, and large businesses; improve connection to community and business leaders; promote/market to women and in the communityWomen & Girls Organization Increase awareness, strengthen women volunteer base, mentor(Ex. Girl Scouts) girls and young women to build leadership skills and fill leadership roles in the business community
    5. 5. Operations...• Operations Manual and Journal kept at the venue’s reception desk.• Collaborative organizations’ Executive Committee convenes monthly.• WBSC general information and calendar of business training workshops / events posted online.• Marketing primarily online and through community networking.• Financial statements and management reports reviewed monthly.• Curriculum of business educational workshops and webinars updated as needed.• Client registration stats and data accumulated for ongoing reporting.
    6. 6. What Program(s)…• Business Educational Webinars/Workshops• Events• Networking• Mentoring Pricing based on event or workshop basis. Funds are collected by hosting organization.
    7. 7. Expected Outcomes...1. Increase woman-owned business sales and profits.2. Connect women to jobs and volunteer roles.3. Build youth leadership and sales skills in girls.4. Improve financial performance of woman-owned companies.5. Compile and analyze gender diversity data.
    8. 8. Statistics... Male - 2006 Female - 2006 Female – 2020 Goals50K+ Assets 50.4% 37.0% 55%100K+ Revenue 32.8% 19.8% 35%10K+ Profits 21.1% 12.6% 25%Employer Firm 44.0% 36.2% 50%Survived 81.4% 76.9% 85%AverageEmployment 3.1 1.8 Double EmployeesAverage Revenue $118,987 $60,264 Double RevenueAverage Profits $30,373 $14,549 Double ProfitsAverage Assets $104,313 $57,338 Double Assets
    9. 9. Benchmarks...• Data tracked at venue; reviewed by Collaborative Organizations.• Tracking includes number of clients, participants, room rentals, workshops and description of workshop or webinar.• PowerPoint with research statistics to be produced annually.• Survey requested from each workshop participant.
    10. 10. Calendar...• WBEC South Business Educational Workshops and Webinars, monthly.• NAWBO Mentoring, customized. Includes initial assessment, goal-setting, and ongoing feedback.• MAP Momentum Accessing Capital, quarterly. Includes group presentations and individual evaluations to assist in improving access to capital.
    11. 11. Topics...• Contracting with Large Corporations• Contracting with the Government• Successful Marketing to Improve Sales• Successful RFPs• Producing Professional Presentations• Understanding Business Financial Statements• Interpreting Financial and Industry Data• Benefits of WBE Certification
    12. 12. Taking Ownership...• Fundamental change and growth must be deliberate.• A country can only have peace and prosperity when its people truly own the economy.• It is more powerful to be a catalyst than a doctor.• Taking a stand now for women in the workplace creates opportunities for young women and girls in the future.• Women can create jobs, grow businesses, and jumpstart the economy.
    13. 13. Why Women...• Women represent – 51% of the nation’s Ph.D.s, – 52% of business school applicants, and – 70% of last year’s valedictorians.• #1 reason why women are not making their way – lack of assertiveness. Advice – own what you’ve done and be confident in making the ask.• #2 reason – women use their networks differently than men. Advice – break down network barriers to ensure men and women are working together.
    14. 14. 2020 Goals for Women in Business…Employment Double EmployeesRevenue Double RevenueProfits Double ProfitsAssets Double Assets
    15. 15. Contact Information: