Running a successful $1 million business is filled with challenges. If business was easy, then more than 2% of women owned businesses in the U.S. would be across the 7-figure threshold
Industry data shows that African American women owned businesses is the fastest-growing segment in the U.S. and are starting up at 6 times the national average. Also, African American women owned businesses are approximately half of the number of the 30% women owned businesses in America.
While African American women business owners are typically educated, were former high-wage earners in Corporate America or were government employees, many are struggling in business and fall short of producing $1 million in annual sales.
Earlier on in my business, I struggled like many women owned businesses are doing today to generate sales, hustling hard, with still little to no success and then the lights began blinking in my home; and it was not because of severe thunderstorms. Before I went splat like the old cartoon “Underdog”, I caught myself, looked in the mirror and said. “Enough is enough. You are better than this situation”. I then placed a flag in the ground and reminded myself why I was in business.
Once I became crystal clear on my big WHY, my reason for being in business, I began taking the steps that led me over the $1 million mark in sales. From this point in the early 2000’s, I never looked back and have repeatedly achieved and exceeded this 7-figures sales goal while employing many employees, having multiple offices and receiving industry recognition from Chambers of Commerce, Houston First Corporation, the Small Business Administration, American Express OPEN and many others.
Bottom line, here’s what I know and has worked for me: It begins with knowing your why. Why did you establish your business? What is that compelling reason that will cause you to do whatever it takes and tackle the ups and downs to your desired goal of producing $1 million in sales and achieving one of your dreams?
In closing, once you are clear on your why, write it down on paper and look at this statement daily. This starts you on your road to success to achieve $1 million in annual revenue.
That’s it for now. Stay tuned to my next blog article offering another tip to 7-figure success in your woman-owned business. Connect with me on Facebook.
