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e-Connections: May 2013
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President's Message

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 year’s event.

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 reputation
  • 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!

LKHSignature.bmp

Lisa Kaiser Hickey

President

 


Your Bottom Line and Personal Beliefs

by Phyllis Reardon, M. Ed

Did you know that your beliefs can limit your financial growth?

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?

 


My Part of Building the Nation- Financial Growth

 by Sefakor Grateful-Miranda Komabu-Pomeyie

How 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.

Valpy 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

Although, 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 out there.

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.

Hannah

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

In the United States, the Spring season is upon us, and, one of my favorite sayings is, "April showers bring May flowers.”

This statement holds the promise that the actions that occur before growth hold the promise of beautiful possibilities.

Our 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.

Think about 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.

Many people operate on auto-pilot and rarely think about the impact of each individual action and the effect it is having on their financial growth.

Just like 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:

1) 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?

3) 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?”

Lastly, 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.”




Thank you for reading our May issue of e-Connections, if you enjoyed it - please share it with your network by using the social sharing buttons above. If you are not a subscriber, please subscribe today. 

Are you interested in submitting an article for inclusion in one of our upcoming issues or becoming a contributing editor? If so, please contact admin@tiaw.org for more information.



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The International Alliance for Women is organized as a 501(c)3 foundation in the USA. We are a global community of economically empowered women across 6 continents that welcome you to our members’ cities and countries, connecting you with their networks of business and community professionals.

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The International Alliance for Women connects leading women’s organizations worldwide to leverage their reach and resources, creating a global community of economically empowered women.

Through our Global Programs we seek to make a difference in the world for those women who are not empowered economically.

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