Dear colleagues and friends,
During May of 2008 Maxine Westaway and I attended the Global
Summit of Women, an international conference held in Santiago, Chile. The summit is attended by dozens of
governmental ministers and international corporate executives as well as
hundreds of professional and entrepreneurial women. It is a remarkable exchange of ideas and best
practices from governmental agencies, corporations, NGOs and small businesses
that have all discovered the power of working in unison to achieve goals. This year’s Global Summit will be held June 6
in Kuala Lumpur. Your TIAW is a Global
Partner of the Global Summit, and two of our ambassadors are speaking at this
In Santiago, I participated on a panel alongside women
leaders from Mexico and China, each of us sharing the critical components for
growth that we learned as entrepreneurs.
Specifically, we talked about how we were able to grow our businesses
despite the economic climate (which hasn't improved much worldwide since then!).
I have tailored the entrepreneurial
advice we gave so that it can be applied to any situation.
- Establish access to credit and maintain an excellent credit
- Dream, but be prepared to DO! Planning and deciding and
intending amount to little without execution.
- Keep developing and pushing yourself. You can’t learn enough. Remember, learning doesn't necessarily happen
in the classroom; it comes from participation, engagement, and experience with
outstanding groups such as your TIAW.
- Work with people whose work ethic you respect.
- Define your goals with numbers ("metrics”) and be
accountable. As the old adage goes, you
cannot manage what you do not measure.
- Work within trusted networks…like your TIAW. Remember, YOU
are the biggest single component in your brand, whether corporate or
personal. If you want to grow, get comfortable
telling your story and nominating yourself for awards. Participate actively in TIAW’s forums and
blogs and with our private LinkedIn group.
Access the myriad of connections that we make available to you.
If you are still looking for inspiration, enjoy reviewing the
incredible World of Difference Award-winners on tiaw.org. Thanks to everyone who entered nominations for 2013 recognition!
Lisa Kaiser Hickey
Your Bottom Line and Personal Beliefs
by Phyllis Reardon, M. Ed
Did you know that your beliefs can limit your financial
Common knowledge dictates, for the most part, that
financial growth is dependent on financial knowledge and understanding combined
with the particular market in which one is involved.
Through my life coaching I have worked with business
women who have limited their potential financial growth due their personal
beliefs. They had their business plan in place which included a well defined
five year strategy, however they as business women were feeling stuck, not able
to navigate the path they had set for themselves.
Business plans are key to financial growth, so too is the
entrepreneur, the business woman, the individual. Equally important as the
business plan is the personal belief system. We all at some point in time
exhibit ‘limiting beliefs,’ beliefs about self that can stop us in our tracks, can
lead us to second guess a business decision. For some business woman these
limiting beliefs can negatively impact their bottom line.
To a large degree we acquire our beliefs from family,
society and culture. If these beliefs in anyway cast a negative shadow toward acquiring
money and wealth they may impact the financial growth of our business.
Some limiting beliefs around money that have been
expressed to me by my coaching clients are:
1. Money can cause
problems for my family.
2. Money brings a
degree of responsibility that scares me.
3. I will lose my
friends if I am financially successful.
4. I don’t deserve
to be wealthy.
5. No one will pay
money for my product or service.
These negative beliefs exist and must be eliminated.
Women need to be challenged on these and similar money
beliefs to determine if indeed they are fact or fiction. They then need to be
given the skills to dispel these roadblocks to financial growth and freedom.
What are your beliefs around money?
Do they move you toward or away from financial growth?
of Building the Nation- Financial Growth
by Sefakor Grateful-Miranda Komabu-Pomeyie
I wish we could increase our financial growth as a country or nation by
including people with disabilities in our negotiations from the scratch. Generally,
our country’s economic growth is calculated by the increase in the amount of
goods and services produced by an economy over time. I am still not convinced
if the gross domestic product (GDP) is really calculated by including the
production of the informer sector. Trade liberalization and globalization does
not favor the poor hence people with disabilities are in a more disadvantaged
situation. Their efforts will never be appreciated in developing and sustaining
the financial world of today.
FitzGerald has indicated that our long-term sustainable economic growth depends
on the following:
- ability to raise the rates of accumulation
of physical and human capital
- using the resulting productive assets more efficiently
- ensuring the access of the whole population
to these assets
my question always remains the same; how seriously are we involving people with
disabilities in this method of nation building? There are a huge number of them
Hopefully, our new
ideas in technology and entrepreneurship for financial growth will reflect
diversity and inclusiveness to help people with disabilities move abreast with
time. I believe we will get there as long as we are determined to recognize
their efforts and bring them on board. Can you ask a friend for me - how
committed is she to inclusiveness? Thanks.
Micro Credit As The Way To Financial Independence For Women In Developing Countries
by Maxine Westaway, TIAW Director of the Micro Credit Program
TIAW is committed to improving the economic security for women around the world.
A woman's most basic needs and desires are simple. She needs a safe, dry place to sleep. She needs enough to eat. She needs shoes and clothes to wear. She wants her children to have their needs met, and she puts their needs above her own. She wants to make a better life for her family -- regular meals, education for the children, some medicine when they are sick. Women are strong and incredibly resilient, but for those women in developing countries, extreme poverty -- living on less than $1 per day -- crushes the ability to achieve even these simple goals. So the last basic need is the need to find a way up. A woman needs to be able to earn enough to better her life and secure her family's future.
To inch their way out of poverty, women work. They buy chickens or goats and sell the eggs and milk. They set up roadside stands and market stalls to sell homemade food, produce or convenience items. They do dressmaking, tailoring and embroidery. They make artisanal products like baskets and jewelry to sell for export. They buy cell phones and small generators and rent them to their neighbors by the minute or the hour. You name it. The list of women's businesses is endless, because women's creativity is boundless. The entrepreneurial spirit can be as strong in a poor and uneducated woman as it is in the captains of industry. Only her command of resources is different.
Here's the catch. Women's small, home-based businesses have the same capital needs as big corporations, but on a much smaller scale. The women we are talking about -- women who cannot afford to eat more than one meal a day, and sometimes not even that -- these same businesswomen must finance inventory and supplies, pay for space and utilities, and cover any cost of travel and advertising, just like a larger more traditional business. Yet they have almost no access to conventional financial services. If their families cannot help them, most are forced to rely on predatory moneylenders or do without financing altogether. Micro credit is the alternative. Read More
Financial Growth in the Spring Season
by Lisa Marie Platske
the United States, the Spring season is upon us, and, one of my favorite
sayings is, "April showers bring May flowers.”
statement holds the promise that the actions that occur before growth hold the
promise of beautiful possibilities.
financial growth holds that same promise. Whatever we spend time
doing sums up who we are and those actions that we deem as most
important ultimately determine our future opportunities and development.
what your average day looks like. What activities do you consciously or
unconsciously take on? Whether you realize it or not, those actions are
directly tied to your financial growth or stagnation.
operate on auto-pilot and rarely think about the impact of each individual
action and the effect it is having on their financial growth.
with May flowers, if we want something incredible to bloom, we need to plant
something good, tend to it by being aware of our actions, and do something
different if we’re not experiencing the growth we expect.
Here are three
strategies to ensure you’ll yield a rich and bountiful harvest and the
financial growth that you so richly deserve:
Think about what you’re
doing. Do you "spend” your time or "invest” your time? Are the actions
you’re currently taking intentional or because you’ve gotten into a pattern of
doing things a certain way?
Action: For two weeks,
write down the list of tasks you do. On the fifteenth day, examine list and ask
yourself, "Are these actions that will lead to my financial growth?” "Will
these tasks keep me on track to get where I want to go this year?”
2) Think about how you’re doing it. When I first opened my business, I would start my day by opening emails. And, there were days where I would touch a document four or five times. Simple actions like these lead to operational inefficiency and slow your financial growth.
Action: Examine how you work and what work you do first. Is there a better way of managing your work so that it
leads to greater profits?
Think about why you’re doing
it. As you go through your day, are you aware of why you do what you do? Whether you know it or not, every
action has an effect on your profit margin.
Action: Throughout the next 24 hours, as you perform
every task, at work and home, ask yourself, "Why am I doing this?” "Is this a
fair exchange of my skills and abilities?”
Jim Rohn stated, "Success is nothing more than a few disciplines, practiced
every day, while failure is simply a few errors in judgment, repeated every day.”
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