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Mistakes Women Business Owners
Make With Their Finances
April Murdaugh is a Registered Representative and Investment Adviser Representative of Equity Services, Inc. Securities and
investment advisory services are offered solely by Equity Services, Inc., Member FINRA/SIPC, 1050 Crown Pointe Parkway, Suite
1700, Atlanta GA 30338, 770-512-5100. Woman to Woman Financial is independent of Equity Services, Inc.
TC118875(0121)1
April D. Murdaugh
Financial Adviser
• Single mom of three children.
• 2011 Homeless.
• Lost everything three times.
Committed to helping professional women and
business owners create and grow generational
wealth.
The Facts
Women Business Owners In America
• More than 11.6 million firms are owned by women.
• Women employ 9 million people.
• Women control 1.7 trillion in sales.
• 5.4 million business are owned by women of color.
https://www.nawbo.org/resources/women-business-owner-statistics
7th Biggest Mistake
Mistake #7: Lack Financial Confidence
• Men are more likely than women to be engaged in the market.
• Millionaire Investor Confidence Index for Men it is 1 for
Women it is -10.
• Women rate themselves as “not very knowledgeable” or “not
at all knowledgeable,” while men rate themselves very
knowledgeable or fairly-knowledgeable.
Spectrum Group (2016). Voice of the investor. Retrieved from:
https://spectrem.com/Content/men-vs-women-investor-confidence-gap.aspx
6th Biggest Mistake
Mistake #6: Not Negotiating
• Women negotiate mor assertively for others.
• They don’t want to be pushy.
• Not sure of their worth.
• Don’t know how to negotiate.
• Women make .80 cents for every dollar that a man
makes.
Sanker, C. (2017). Why don’t more women negotiate? Forbes Magazine. Retrieved from:
https://www.forbes.com/sites/forbescoachescouncil/2017/07/13/why-dont-more-women-negotiate/#2f6cd1a0e769
https://www.pon.harvard.edu/daily/business-negotiations/women-and-negotiation-narrowing-the-gender-gap/
5th Biggest Mistake
Mistake #5: Avoiding It
•Finances seem too overwhelming.
•Women make .80 cents for every dollar that a
man makes
•8 of 10 women do not discuss money with their
close friends or family.
•50% of women lack confidence.
Sanker, C. (2017). Why don’t more women negotiate? Forbes Magazine. Retrieved from:
https://www.forbes.com/sites/forbescoachescouncil/2017/07/13/why-dont-more-women-
negotiate/#2f6cd1a0e769
4th Biggest Mistake
Mistake #4
Mixing Business and Personal Expenses
• Impact loan eligibility.
• Accounting problems.
• “Piercing the Corporate Veil.”
• Spur and IRS Audit.
https://tolbertcpa.com/2019/08/14/heres-why-business-personal-expenses-should-be-kept-separate/
3rd Biggest Mistake
Mistake #3:
Lack of Risk Management
•75% of business are underinsured by more
than 40%.
•More than 80% don’t have Small Business
Insurance.
• Lack Insurance for: Theft, Being Sued,
Contracts, Accidents, Disability, and Death.
https://www.entrepreneur.com/article/321029
2nd Biggest Mistake
Mistake #2:
No Business Succession Plan
•Peace of mind for the business you’ve built.
•Ability to respond to life/business events.
•Prepare for your heirs financially.
•Retirement strategy.
https://www.score.org/resource/small-business-owner-guide-succession-planning
The Biggest
Mistake
Mistake #1
Mistake #1: Not Hiring A Team
Certified Public Accountant, Bookkeeper, Attorney & Financial Adviser
• Reduces your burden.
• Helps maximize investments.
• Helps to cut costs
• Helps you stay legal.
• Independent non-partial advice.
• Helps with Business & Personal.
https://www.mindmybusinessnyc.com/why-you-need-a-financial-advisor/
How I Can
Six Key Areas
Current Financial Position
Risk Management
Long-Term Strategies
Tax Strategies
Retirement Strategies
Legacy Planning Strategies
My Financial
Process
Always complimentary.
60-minute virtual appointments.
Assess your financial position and learn about
your goals.
Determine if there is synergy to work
together.
Work together to develop and implement
your financial goals.
Contact me at:
www.womantowomanfinancial.com
info@womantowomanfinancial.com
904-753-5250
Financial
Consultation
Sanker, C. (2017). Why don’t more women negotiate? Forbes Magazine. Retrieved from:
https://www.forbes.com/sites/forbescoachescouncil/2017/07/13/why-dont-more-women-
negotiate/#2f6cd1a0e769
https://agentblog.nationallife.com/review-the-cares-act-with-your-clients/
Spectrum Group (2016). Voice of the investor. Retrieved from:
https://spectrem.com/Content/men-vs-women-investor-confidence-gap.aspx
NAWBO Statistics. Retrieved from: https://www.nawbo.org/resources/women-business-owner-statistics
The Small Business Owners Guide to Succession Planning. Retrieved from:
https://www.score.org/resource/small-business-owner-guide-succession-planning
References
References
• Here’s Why Business & Personal Expenses Should Be Kept Separate. Retrieved
from: https://tolbertcpa.com/2019/08/14/heres-why-business-personal-expenses-should-be-
kept-separate/
•
Women and Negotiation: Narrowing the Gender Gap in Negotiation Retrieved from:
https://www.pon.harvard.edu/daily/business-negotiations/women-and-negotiation-narrowing-
the-gender-gap/
• Using Personal Insurance to Protect Your Small Business Is Like Not Having Insurance at All
Retrieved from: https://www.entrepreneur.com/article/321029
7 Reasons Why You Need a Financial Advisor for Your Business. Retrieved from:
https://www.mindmybusinessnyc.com/why-you-need-a-financial-advisor/

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Mistakes women busienss owners make with money

  • 1. Mistakes Women Business Owners Make With Their Finances April Murdaugh is a Registered Representative and Investment Adviser Representative of Equity Services, Inc. Securities and investment advisory services are offered solely by Equity Services, Inc., Member FINRA/SIPC, 1050 Crown Pointe Parkway, Suite 1700, Atlanta GA 30338, 770-512-5100. Woman to Woman Financial is independent of Equity Services, Inc. TC118875(0121)1
  • 2. April D. Murdaugh Financial Adviser • Single mom of three children. • 2011 Homeless. • Lost everything three times. Committed to helping professional women and business owners create and grow generational wealth.
  • 4. Women Business Owners In America • More than 11.6 million firms are owned by women. • Women employ 9 million people. • Women control 1.7 trillion in sales. • 5.4 million business are owned by women of color. https://www.nawbo.org/resources/women-business-owner-statistics
  • 6. Mistake #7: Lack Financial Confidence • Men are more likely than women to be engaged in the market. • Millionaire Investor Confidence Index for Men it is 1 for Women it is -10. • Women rate themselves as “not very knowledgeable” or “not at all knowledgeable,” while men rate themselves very knowledgeable or fairly-knowledgeable. Spectrum Group (2016). Voice of the investor. Retrieved from: https://spectrem.com/Content/men-vs-women-investor-confidence-gap.aspx
  • 8. Mistake #6: Not Negotiating • Women negotiate mor assertively for others. • They don’t want to be pushy. • Not sure of their worth. • Don’t know how to negotiate. • Women make .80 cents for every dollar that a man makes. Sanker, C. (2017). Why don’t more women negotiate? Forbes Magazine. Retrieved from: https://www.forbes.com/sites/forbescoachescouncil/2017/07/13/why-dont-more-women-negotiate/#2f6cd1a0e769 https://www.pon.harvard.edu/daily/business-negotiations/women-and-negotiation-narrowing-the-gender-gap/
  • 10. Mistake #5: Avoiding It •Finances seem too overwhelming. •Women make .80 cents for every dollar that a man makes •8 of 10 women do not discuss money with their close friends or family. •50% of women lack confidence. Sanker, C. (2017). Why don’t more women negotiate? Forbes Magazine. Retrieved from: https://www.forbes.com/sites/forbescoachescouncil/2017/07/13/why-dont-more-women- negotiate/#2f6cd1a0e769
  • 12. Mistake #4 Mixing Business and Personal Expenses • Impact loan eligibility. • Accounting problems. • “Piercing the Corporate Veil.” • Spur and IRS Audit. https://tolbertcpa.com/2019/08/14/heres-why-business-personal-expenses-should-be-kept-separate/
  • 14. Mistake #3: Lack of Risk Management •75% of business are underinsured by more than 40%. •More than 80% don’t have Small Business Insurance. • Lack Insurance for: Theft, Being Sued, Contracts, Accidents, Disability, and Death. https://www.entrepreneur.com/article/321029
  • 16. Mistake #2: No Business Succession Plan •Peace of mind for the business you’ve built. •Ability to respond to life/business events. •Prepare for your heirs financially. •Retirement strategy. https://www.score.org/resource/small-business-owner-guide-succession-planning
  • 19. Mistake #1: Not Hiring A Team Certified Public Accountant, Bookkeeper, Attorney & Financial Adviser • Reduces your burden. • Helps maximize investments. • Helps to cut costs • Helps you stay legal. • Independent non-partial advice. • Helps with Business & Personal. https://www.mindmybusinessnyc.com/why-you-need-a-financial-advisor/
  • 21. Six Key Areas Current Financial Position Risk Management Long-Term Strategies Tax Strategies Retirement Strategies Legacy Planning Strategies My Financial Process
  • 22. Always complimentary. 60-minute virtual appointments. Assess your financial position and learn about your goals. Determine if there is synergy to work together. Work together to develop and implement your financial goals. Contact me at: www.womantowomanfinancial.com info@womantowomanfinancial.com 904-753-5250 Financial Consultation
  • 23. Sanker, C. (2017). Why don’t more women negotiate? Forbes Magazine. Retrieved from: https://www.forbes.com/sites/forbescoachescouncil/2017/07/13/why-dont-more-women- negotiate/#2f6cd1a0e769 https://agentblog.nationallife.com/review-the-cares-act-with-your-clients/ Spectrum Group (2016). Voice of the investor. Retrieved from: https://spectrem.com/Content/men-vs-women-investor-confidence-gap.aspx NAWBO Statistics. Retrieved from: https://www.nawbo.org/resources/women-business-owner-statistics The Small Business Owners Guide to Succession Planning. Retrieved from: https://www.score.org/resource/small-business-owner-guide-succession-planning References
  • 24. References • Here’s Why Business & Personal Expenses Should Be Kept Separate. Retrieved from: https://tolbertcpa.com/2019/08/14/heres-why-business-personal-expenses-should-be- kept-separate/ • Women and Negotiation: Narrowing the Gender Gap in Negotiation Retrieved from: https://www.pon.harvard.edu/daily/business-negotiations/women-and-negotiation-narrowing- the-gender-gap/ • Using Personal Insurance to Protect Your Small Business Is Like Not Having Insurance at All Retrieved from: https://www.entrepreneur.com/article/321029 7 Reasons Why You Need a Financial Advisor for Your Business. Retrieved from: https://www.mindmybusinessnyc.com/why-you-need-a-financial-advisor/