According to the U.S Small Business Administration, there are over 11 million women-owned businesses in the United States – 38% of all businesses. At Hera Hub, we focus our efforts on supporting women-owned business because we believe that women truly have a unique advantage as business owners. The month of October is recognized as National Women in Small Business Month. To celebrate this special month, we interviewed five Hera Hub members on what it is really like being a woman business owner. These women share the best parts of being a business owner, what resources they rely on and what some of their biggest challenges are.
QUESTION: What is the best part about owning your own business?
“Setting my own schedule! If I want to take a nap at 2pm, I can!” – Donna Kozik
“Changing the course and life of a client.” – Rebecca Tall-Brown
“The ability to contribute significantly more to a retirement account than I would be able to using an employer’s 401(K). As a solo-entrepreneur, I can contribute over $50K per year to a Solo 401(k) which means less profit gets sucked away in federal and state taxes.” – Laurie Itkin
“Having time to eat breakfast with my toddler instead of rushing to drop her off. We can really spend time together as a family because I have a flexible schedule.” – Stephanie Liu
QUESTION: What are the top three resources that you turn to as a business owner?
Temi.com – for fast, super cheap transcription.
Canva.com – easy, nice looking graphics
TailorBrands.com – instant logo generator
Supportive Community – a supportive group of like-minded, experienced entrepreneurs or mastermind groups
Badass Marketers & Founders – Private Facebook Group
YouTube – easy learning through free tutorials
Email Management Software – MailChimp, Constant Contact, and Convert Kit to name a few.
QUESTION: What are the biggest challenges you face being a woman in small business?
“When I was starting out, it was more difficult to be taken seriously. I’m glad things have changed where a woman with her own business is not something unusual.” – Donna Kozik
“I don’t think this has to do with me being a woman/gender specific, but I want people to feel included every step of the way – and that’s not always possible.” – Rebecca Tall-Brown
“None. I think being a woman is an asset when marketing products and services to other women.” – Laurie Itkin
“Balancing mommy guilt and going out to network with game changers. I have to be very protective of my energy. There are some people that want to soak up all your energy.” – Stephanie Liu
QUESTION: What advice do you wish you had known prior to starting your own business that you think other women business owners should know?
“Take more chances and be willing to embarrass yourself more. It’s those who make the effort who are rewarded.” – Donna Kozik
“To take ballsier risks as soon as you can. Don’t wait to be “certain” about anything before you make the leap – if you can take a risk that you can more or less walk away from unscathed, it’s one usually worth taking.” – Rebecca Tall-Brown
“Be prepared to waste money on certain services, vendors, marketing, networking groups, etc. as you learn what does and does not work to grow your business. What works for one person and her business may not be effective for you and your business.” – Laurie Itkin
Create three price points for your product or service. Figure out which one is driving the majority of your revenue and figure out how to automate or delegate so you can scale. -Stephanie Liu
“Find a group of people that you like that are all working towards success and want to see each other succeed.” – Tiffany Glenn-Hall
About the Contributors
Donna Kozik is a book writing and marketing coach and the creator of Write A Book In A Weekend. www.freebookplanner.com
Rebecca Tall-Brown is the co-founder of marketing agency, Office of Awesome.
Laurie Itkin is a financial advisor, certified divorce financial analyst (CDFA), and author of Amazon bestseller, Every Woman Should Know Her Options
Stephanie Liu is the founder of Stephanie Liu Marketing and creator of Facebook Live show, “Lights, Camera, LIVE!”
Tiffany Glenn-Hall has a Ph.D. in Neuroscience from the University of California and has a passion to spread open communication and empowerment to build solutions for neurological problems through her company, Neural Moxie.