PHILOSOPHY: BARBARA ON BUSINESS FINANCE

You can’t win if you don’t know how to play the game.

When I first started, I knew little about the “real” world of finance. In fact, I was a little intimidated by it even though I had a degree in finance. Throughout my career, I watched as successful businessmen, leaders in their industries, used financial strategies to build thriving, prosperous businesses. Negotiating against some of the biggest players on Wall Street taught me a valuable lesson, one that made a lasting impression on me — “you can’t win if you don’t know how to play the game.” That’s what it’s all about.

A PERSONAL MESSAGE TO WOMEN BUSINESS OWNERS.

When I learned that women owned about 40% of the small businesses in America, but accounted for only 4% of all small business revenue, it HURT!
I know too many women that invest all their time, effort and savings in their business and still can’t grow a viable business. Why?

The Kaufmann Foundation conducted extensive research on this point. They found that women didn’t sufficiently capitalize their businesses and primarily self-funded and used credit cards. There were multiple reasons why women didn’t seek outside financing — they didn’t ask; they feared being judged if they were turned down; they ignored the financial side thinking they were not good with numbers; they claimed they disliked debt; or they feared finance. Whatever their reason, it held them back because the failure to sufficiently capitalize a business retards its growth.

Men, on the other hand, raised 80% more capital in their businesses from outside sources and generated greater and greater revenue over time. They know how the game of business is played. Unfortunately, the financial world was created by men for men, and this has given them a great advantage. Now I want to level the playing field for women.

Economic Empowerment.

Leveling the playing field is about learning how “to play the game” to win. It’s not that difficult! Women are just as capable as men in dealing with money and finance – sometimes more so. They just haven’t had the same advantages and opportunities as men have had.

The key to a thriving, prosperous business is controlling the financial side and becoming more financially savvy in business. When you can do that, it will empower you as a business owner and as a woman. And these aren’t empty promises; economic empowerment is about living in the real world
on your terms. Barbara Vrancik