Entrepreneurship was once considered a man's domain, but according to a 2017 national study on the state of women’s entrepreneurship, commissioned by American Express Open [i], the number of women-owned businesses has been on the rise in the United States for the last two decades. The study reports that the number of women-owned businesses has grown more than 2.5 times the national average between 1997 and 2017 – a whopping 114%, compared to a 44% increase among all businesses. It also estimated that 11.6 million women-owned businesses in the United States – a total of 39% of all U.S. private sector firms – employed 8% of the total workforce (nearly 9 million people) and generated more than $1.7 trillion in revenues.
However, according to most indicators, women lag behind our male counterparts in growing our businesses beyond $50,000 in annual gross revenue.
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As we participate in the daily grind to create and promote our businesses, four of the most neglected areas for solopreneurs and leaders of home-based businesses tend to be: nurturing social/professional networks, striving for deeper levels of self-awareness, calling upon our creativity; and sustaining the acts of self-care. Tackling these areas can certainly help us work smarter.
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A sunny day in Phoenix, Arizona and I'm sitting in the lobby of the Kimpton Hotel Palomar Phoenix to meet two incredible women. In walks two original Chicagoans who moved to San Diego to begin a new journey to help empower other women. Not only are they mentors, visionaries, and influential to other women, they also happen to be mother and daughter.
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I had the pleasure of interviewing Dr. Yvonne Williams-McMillan and Erika Danina Williams, a mother-daughter duo who are founders of Color Your World Personal Development & Coaching, LLC. —dedicated to helping busy, professional women sharpen their competitive edge in the global marketplace.