$8.00 Spring 2025 SPRING 2025 Enterprising Women of the Year Awards COMMEMORATIVE ISSUE! 23rd ANNUAL Sharina Perry Founder Utopia Plastix 2025 Hall of Fame Inductee INTRODUCING OUR CLASS OF 2025 ENTERPRISING WOMEN OF THE YEAR HONOREES Commemorative Awards Issue
$8.00 Spring 2025 Enterprising Women of the Year Awards COMMEMORATIVE ISSUE! 23rd ANNUAL Andra Rush Founder and CEO The Rush Group 2025 Hall of Fame Inductee INTRODUCING OUR CLASS OF 2025 ENTERPRISING WOMEN OF THE YEAR HONOREES
So much to celebrate! Welcome to this special commemorative issue of Enterprising Women, our annual edition that celebrates winners and champions of the Enterprising Women of the Year Award. We are proud to celebrate our 23rd class of award honorees with businesses from under a million in annual revenues all the way up to businesses with more than a billion in annual revenues. Our honorees will gather March 27-29 at the Grand Hyatt in Nashville so that we can shine the spotlight on their accomplishments and be inspired by their growth, community leadership, and mentorship of other women and girls. Our two inductees into the Enterprising Women Hall of Fame are remarkable business leaders. Sharina Perry, an Oklahoma City-based founder of Utopia Plastix, is growing an innovative multi-billion dollar company that has created a plant-based alternative to petroleum-based plastic. This African American business leader who grew up in the south is addressing social and ecological issues that have the potential to transform the world. Our second Hall of Fame inductee founded one of the largest Native American and women-owned enterprises in the U.S. and is a nationally recognized changemaker. Andra Rush, the founder and CEO of The Rush Group, and its cornerstone, Dakkota, generates sustainable career opportunities in underrepresented communities across the U.S. and Canada, with more than $1.1 billion in revenues. She was recognized by President Obama in his 2014 State of the Union address for creating hundreds of manufacturing jobs in Detroit with the first plant opening in the city in decades. The Enterprising Women Business Icon Award, now in its second year, honors trailblazer Gloria Bohan, the founder of Omega World Travel, a billion-dollar leader in the travel industry worldwide and a former inductee into the Enterprising Women Hall of Fame. Gloria is also a strong supporter of the Enterprising Women Foundation and a 20+ year member of the Enterprising Women Advisory Board. We are also celebrating a successful season of hosting Young Enterprising Women Mentoring Forums at 25 events across the country—from Brooklyn, NY to San Diego, CA. Nearly a hundred scholarship recipients from high schools that participated in this program are joining in Nashville for the Young Enterprising Women National Leadership Conference, March 28-30, where they will receive leadership training, public speaking and self-confidence building skills, mentoring, and much more. Our strong partner in this program for the past three years has been the Institute of Consumer Money Management, led by founder and executive director, Diane Chen, PhD. Our financial literacy program has been led by Rebecca Rayburn-Reeves, PhD, who is the senior director of ICMM and the financial literacy program coordinator for our foundation. Our foundation has been led by national co-chairs, Edie Fraser, and Faye Coleman, PhD, and a remarkable group of event chairs in every city, many of whom also serve on the Enterprising Women Advisory Board. We are indebted to the many volunteers who have helped us double the size and impact of this program every year. The 2025 Enterprising Women of the Year Awards Celebration & Conference will also be an ideal time to celebrate the 25th anniversary of Enterprising Women magazine. Our summer edition will be a special anniversary issue, reflecting on the history of the women’s business community (and the role that Enterprising Women has been proud to play over the years). We look forward to the important work we all have ahead of us. Enjoy this issue and I look forward to seeing many of you in Nashville in late March! —Monica Smiley Left to right, Elena Rivers, Houston Young Enterprising Women Mentoring Forum Chair, Delores “Dee” Jones, Business and Community Partnership Coordinator for Alief Independent School District, Rebecca Rayburn-Reeves, Financial Literacy Program Coordinator for the Enterprising Women Foundation, and Monica Smiley, President/Founder, Enterprising Women Foundation, at the Houston area mentoring forum which inspired more than 250 young women in January. enterprising Women 5 Monica S. Smiley FROM THE PUBLISHER
The community of women business owners reads Enterprising Women! THE MAGAZINE FOR WOMEN ENTREPRENEURS! Celebrating the world’s finest Enterprising Women of the Year A Inspiring the next generation with our You events in cities across the U.S. and Canada ho Connect today at www.enterprisingwomen.com The community of women business owners reads Enterprising Women! THE MAGAZINE FOR WOMEN ENTREPRENEURS! Celebrating the world’s finest Enterprising Women of the Year Inspiring the next generation with our You events in cities across the U.S. and Canada h Connect today at www.enterprisingwomen.co
est women entrepreneurs at the r Awards Celebration & Conference! Young Enterprising Women Mentoring Forum hosted by the Enterprising Women Foundation com and www.enterprisingwomenfoundation.org t women entrepreneurs at the Awards Celebration & Conference! ung Enterprising Women Mentoring Forum hosted by the Enterprising Women Foundation om and www.enterprisingwomenfoundation.org
enterprisingwomen.com Women THE VOICE OF WOMEN ENTREPRENEURS Vol. 26, No. 1, Spring 2025 FEATURES EDITOR & PUBLISHER Monica S. Smiley EDITORIAL DIRECTOR Carol L. Genee ASSOCIATE EDITOR Kathy Ann Moilanen PRODUCTION MANAGER Carley M. Dancer CONTRIBUTING WRITERS: Edie Fraser Jodi Standke Marilyn J. Magett Kathie Okun Susan Michel Molly Gimmel Jill Vitiello Carol Soman Susie Carder Caryn Kopp Deborah Garry Meagan D. Saxton Runa Magnusdottir Andrea Vigil Liz Wool Anne Descalzo Sharon Reynolds Jenny Evans Judi Sheppard Missett Kathy Durfee ART DIRECTION/DESIGN SPARK Publications VIDEO PRODUCTION MANAGER Alexander Dancer WEBSITE MANAGER Myra Ray EVENT CONSULTANTS Beth Blake Jamie Kopp CORPORATE & ADVERTISING SALES OFFICES 1135 Kildaire Farm Rd. Suite 200 Cary, NC 27511 USA www.enterprisingwomen.com ENTERPRISING WOMEN is published quarterly by Enterprising Women Inc. Annual print subscription rate is $25. Subscribe online at www.enterprisingwomen.com. Download our app in the Apple Store or Google Play. International print subscribers please add $25US for international postage. Enterprising Women is copyrighted 2025 by Enterprising Women, Inc. All rights reserved. Reproduction in whole or part is prohibited except by permission of the Publisher. The views expressed by contributing writers in this issue are not necessarily those of the staff or management of Enterprising Women Inc. Enterprising Women is not responsible for claims made by its advertisers. SPECIAL AWARDS SECTION 38 P resenting the Class of 2024 39 B usiness Icon Award Winner 40 Hall of Fame Inductees 42 M eet our Enterprising Women of the Year Award Winners 78 A Salute to our Enterprising Women of the Year Award Champions 6 enterprising Women
DEPARTMENTS CELEBRATE 11 E die Fraser pays tribute to the Enterprising Women community. FINANCE 17 D eveloping the clarity, peace of mind, and financial strategies to accelerate the growth of your business. 21 P lan smart and avoid the pitfalls in retirement. 23 T he money talk: having crucial financial conversations with aging parents. SALES AND MARKETING 34 C lean up at conferences with three overlooked sales strategies. 36 T he value of partnering with a marketing agency. MANAGEMENT AND LEADERSHIP 13 2 5 years of women-led success. The power of connection in business. 25 B usiness partnerships: beyond the contract. 28 P reparing for the emotional side of selling your business. 30 T he hidden cost of complacency: the silent killer you must not ignore. 33 P rofit isn’t an accident, it’s a strategy. How to keep more of what you make. SOCIAL MEDIA 82 U nleashing the power of SEO on social media channels. TECHNOLOGY 84 C loning yourself with AI: leadership’s new secret weapon. SPEAK OUT 86 I nspiring enterprising women of the future. PERSONAL GROWTH 88 H ow to transform your presentations to conversions. 90 T he power of listening: a key skill every enterprising woman needs to lead. 92 A purposeful life: the path to inner peace, joy, and meaningful impact. 94 F rom burned out to fired up. 100 W hat’s in your backpack? HEALTHY YOU 99 T he 411 on protein. Why does your body need protein daily? How much and what’s your best source. COLUMNS 5 Publisher’s Note 100 Endnote enterprising Women 7
Christy Alexander 5-Star Therapy www.5-startherapy.com Leslie Atkins LA Communications, LLC www.corporatestorytellers.com Robin Bailey The Legacy Connection www.callerconnection.com Robert Bard Latina Style www.latinastyle.com Elin Barton Riveo Creative www.riveocreative.com Betsy Bassan Panagora Group www.panagoragroup.net Susan Phillips Bari The Susan Bari Company www.SusanSpeaks.online Lorin Beller Lorin Beller & Co www.LorinBeller.com Sarah Benken KNOW Women www.theknowwomen.com Fran Biderman-Gross Advantages www.advantages.net Gloria Bohan Omega World Travel www.owt.net Giselle Bonzi Washington Capital Partners www.washingtoncapitalpartners.com Kristina Bouweiri Reston Limousine www.restonlimo.com Renee Bovelle, MD Envision Eye and Laser www.envisioneyeandlaser.com Jeska Brodbeck Be Light Consulting www.belightconsulting.com Barbara Brown, PhD Capitol Hill Consortium for Counseling and Consultation www.ccccmentalhealth.com Natalie Buford-Young Springboard Enterprises www.springboardenterprises.org Camille Burns Women Presidents Organization www.womenpresidentsorg.com Dominique Cagle Nika Corporate Housing www.nikacorporatehousing.com Jennie Campbell The Stewart Lodges (retired) www.stewartlodgeatsteelwood.com Mary Cantando WomanBusinessOwner.com www.womansadvantage.biz Susie Carder SC Consulting www.SusieCarder.com Seema Chawla Tek Valley Corporation www.tekvalley.com Diane Chen, PhD CESI Debt Solutions www.cesidebtsolutions.org Laura Chiesman FirstWave Financial www.firstwavefinancial.com Nicole Cober Cober, Johnson & Romney www.cjrlegal.com Rebecca Contreras AvantGarde LLC www.avantgarde4usa.com Wendy Coulter Hummingbird Creative Group, Inc. www.Hummingbird-creative.com Carolyn Marshall Covington Insightful Visionaries www.insightfulvisionaries.org Karen Cripe Label Logic, inc. www.label-logic.com Carol Curran Phoenix Data Corporation www.phoenixdatacorporation.com Shital Daftari Saris and Things Inc. www.sarisandthings.com Sharon Davison 1021UX.com www.SharonADavison.com Michelle DeClerck Conference Event Management. www.myCEM.com Laurie DeJong LDJ Productions www.ldjproductions.com Anne Descalzo Clutch www.connectwithclutch.com Harriet Diamond Author, writer, speaker www.harrietdiamond.net Emilia DiMenco & Hedy M. Ratner Women’s Business Development Center www.wbdc.org Nathalie Doobin Harvard Services Group www.harvardsg.com Desiree Doubrox HomWork www.homwork.com Kathy Durfee TechHouse www.tech-house.com Jen Earle National Association of Women Business Owners www.nawbo.org Susanne Evens AAA Translation www.aaatranslation.com Marsha Firestone, PhD Women Presidents Organization www.womenpresidentsorg.com Celeste Ford Stellar Solutions, Inc. www.stellarsolutions.com Judy Fourie Fourie Group www.fouriegroup.com Edie Fraser Women Business Collaborative www.wbcollaborative.org Renee White Fraser Fraser Communications www.frasercommunications.com Anne Freedman Speak Out Inc. www.speakoutinc.com Joan Killian Gallagher Warden-Brooks, Ltd. www.wardenbrooks.com Jayanthi Ganapathy Finaccurate LLC www.finaccurate.com Twyla Garrett Growth Management Services, Inc. www.hiregms.com Deborah Garry BBG&G Advertising & Public Relations www.bbggadv.com Dima Ghawi www.DimaGhawi.com Molly Gimmel Design To Delivery Inc. www.d2dinc.com Chanie Gluck 4D Global www.4dglobalinc.com Lili Hall KNOCK, Inc. www.knockinc.com Monick Halm Real Estate Investor Goddesses www.realestateinvestorgoddesses.com Linda Hamilton Linda A. Hamilton, CPA PLLC www.lahcpas.com Darnyelle Jervey Harmon, PhD Incredible One Enterprises, LLC www.incredibleoneenterprises.com Lori Harris Harris Whitesell Consulting, LLC www.harriswhitesellconsulting.com Melissa Harrison Allee Creative, LLC www.alleecreative.com Cynthia Hetherington Hetherington Group www.Hetheringtongroup.com Dana Hetrick Lucas Commercial Flooring Group, Inc. www.lucasflooringkc.com Sonya Hopson HIRE Strategies LLC www.hire-strategies.com Sally Hughes Caster Connection www.casterconnection.com Sharon Hulce Employment Resource Group, Inc. www.ergsearch.com Kathleen Hunt Personalized Payroll Services, Inc. www.personalizedpayroll.com Barbara Hutchinson, MD, PhD Chesapeake Cardiac Care www.ccardiac.com Debby Jackson Pivotal Talent Search, LLC www.pivotaltalentsearch.com Kathryn Janicek Kathryn Janicek Productions www.kathrynjanicek.com Marilyn Johnson MarilynjSpeaks.com www.marilynjspeaks.com Nina L. Kaufman, Esq. www.NinaKaufman.com Karen Kerrigan Small Business & Entrepreneurship Council/ Women Entrepreneurs Inc. www.sbecouncil.org Merrilee Kick Southern Champion / BuzzBallz, LLC www.southern-champion.com www.buzzballz.com Sung-Joo Kim Sungjoo Group www.sungjoogroup.com Caryn Kopp Kopp Consulting, LLC www.koppconsultingusa.com Margery Kraus APCO Worldwide www.apcoworldwide.com Cathy Light Lideranca Group Inc. www.liderancagroup.com Julie Lilliston Julie Lilliston Communications www.julielilliston.com Kirsten Liston Rethink Compliance LLC www.rethinkcomplianceco.com Virginia Littlejohn Quantum Leaps, Inc. www.quantumleapsinc.org Renee Pepys Lowe RPL + Associates www.rplassociates.com Maril MacDonald Gagen MacDonald www.gagenmacdonald.com Gia Machlin Eco Plum Inc. www.ecoplum.com Marilyn J. Magett Evolve CFO Services www.evolvecfoservices.com Rúna Magnúsdóttir Connected-Women.com www.connected-women.com BRANDit www.brandit.is Purba Majumder Cybervation www.cybervationinc.com Francine Manilow Manilow Suites, Inc. www.manilowsuites.com Andrea March Women’s Leadership Exchange www.womensleadershipexchange.com Angela Marshall, MD Comprehensive Women’s Health www.mdforwomen.com 8 enterprising Women
Kris Martinez Martinez Creative Group www.martinezcreativegroup.com Patricia Marx New World Van Lines www.newworldvanlines.com Virginia McGann Value Management Resources www.vmresources.net Martha Mertz Athena International www.athenainternational.org Susan McGlory Michel Glen Eagle Advisors, LLC www.gleneagleadv.com Wanda McKenzie McKenzie & Associates Janice Migliore PALCO www.gotopalco.com Patricia Miller SpaceBound www.spacebound.com Judi Sheppard Missett Jazzercise, Inc. www.jazzercise.com Shaila Rao Mistry JAYCO MMI www.jaycopanels.com STEM-Institute www.stem-institute.org Cindy Monroe Thirty-One Gifts www.cindymonroe.com Fatimah Moody Linkvisum Consulting Group www.linkvisum.com Jacqueline Muller 3DOM (Asia Pacific) Ltd. www.jacquelinemuller.com Bonnie Nawara Association of Women’s Business Centers www.awbc.org Terry Neese Peace Through Business www.enterprisingwomen foundation.org Phyllis Newhouse Xtreme Solutions, Inc. www.xtremesolutions-inc.com Marlene Morrison Nicholls Stewart Morrison Insurance www.stewartmorrison.ca Nkem Okeke, MD Medicalincs www.medicalincs.com Kathie Okun The Okun Financial Group, Inc. www.theokungroup.com Jill Osur Teneral Cellars www.teneralcellars.com Pooja Chandra Pama ACE Foods www.acefoods.org Neelima Parasker SnapIT Solutions LLC www.snapit.solutions.com Shina Parker Integrity Title & Escrow Company www.integritytitlellc.com Desirée Patno National Association of Women in Real Estate Businesses www.nawrb.com Kathleen Scheil Pavlik IBM - retired www.ibm.com Tameka L. Payton, Ph.D. Psychometric Solutions, LLC www.pychometricsolutions.org Sue Pellegrino Everest Discovery www.EverestDiscovery.com Silvia Pencak WBE Canada www.wbecanada.org Iris Phillips Grace Federal Solutions, LLC www.gracefederalsolutions.com Shelly Porges Beyond the Billion www.BeyondtheBillion.com Barb Potter TJ Potter Trucking Inc. www.tjpottertrucking.com Esther Poulsen Raare Solutions LLC www.raaresolutions.com Jeanette Hernandez Prenger ECCO Select www.eccoselect.com Fabi Preslar SPARK Publications www.sparkpublications.com Pamela Prince-Eason Women’s Business Enterprise National Council www.wbenc.org Marcel Quiroga TQM Wealth Partners www.tqmwealthpartners.com Sara Rahn Madison Avenue Worldwide, LLC www.madaveww.com Adonica Randall Abaxent LLC www.abaxent-global.com Marti Reeder Edge Solutions & Consulting, Inc. www.edgesolutionsinc.net Lisa Rehurek The RFP Success® Company www.therfpsuccesscompany.com Sharon Reynolds DevMar Products, LLC www.devmarproducts.com Lisa Riggs Sock Queen Spirit Sox USA www.spiritsoxusa.com Keisha A. Rivers The Kars Group LTD www.karsgroup.com LuzElena Rivers, DBA AMERA www.myamera.com Helena Rodrigues AllBy www.allby.pt Lynthia Romney RomneyCom L.L.C. www.RomneyCom.com Manishi Sagar Kinderville Group www.kinderville.com Mariyah Saifuddin Innovative Solution Partners www.isolutionpartners.com Liz Sara SCORE Foundation www.nwbc.gov Katie Schibler Conn Katie Schibler & Associates, LLC d/b/a KSA Marketing www.teamksa.com Judith von Seldeneck Diversified Search Group www.Divsearch.com Charmane Sellers API Design Build Group, LLC www.aleonpropertiesinc.com Jennifer Serino My Hot Lunchbox www.myhotlunchbox.com Minerva Serrano Activus Connect www.activusconnect.com Mary Ellen Sheehy Vistage www.vistage.com Ciemone Sheppard Ciemone Inc. www.ciemoneinc.com Arianna Sholes-Douglas, MD Tula Wellness & Aesthetics www.tulawellnessmd.com Esther Silver-Parker The Silver-Parker Group www.silverparker.com Andrea J. Simon, PhD Simon Associates Management Consultants www.simonassociates.net Robyn Smalletz Gloria Duchin, Inc. www.gloriaduchin.com Tressa Smallwood MegaMind Media www.megamindmedia.com Maria de Lourdes Sobrino Lulu’s Dessert Inc. www.lulusdessert.com Carol Soman Dashboard Enterprises www.dashboardny.com Jodi Standke Talon Performance www.talonperformancegroup.com Nicolina Stewart, CPA Capital Management Advisors, Inc. www.cmaadvisors.net Roseann Sunwoo Clara Sunwoo www.clarasunwoo.com Joanne Tabellija-Murphy Walmart www.corporate.walmart.com Michelle Taylor BETAH Associates www.betah.com Shelli Tench Shelten LLC www.sheltenllc.com Gulden Turktan, PhD International Women’s Forum Turkey www.iwfturkey.com Kay Unger Pitman Kay Unger Family Foundation www.kayungerdesign.com Elizabeth A. Vazquez WEConnect International www.weconnectinternational.org Letty Velez Velez Global Enterprises www.velezglobalenterprises.com Cristina Vicini The International Alliance of Women www.tiaw.org Andrea Vigil Allegiant Electric LLC www.allegiantelectricllcnv.com Jill Vitiello Vitiello Advisory https://www.linkedin.com/in/ jillvitiello/ Lucie Voves Church Hill Classics www.diplomaframe.com Andrea Wagner Herizon Funding www.herizonfunding.com Deborah Ward Televergence Solutions www.televergence.com Joanna Wasmuth Erase Poverty www.erasepoverty.org Nancy Watt Nancy Watt Communications www.nancywattcomm.com Sandi Webster, PhD Sandi Webster LLC www.sandiwebster.com Cheryl White National Access Design LLC. www.nationalaccessdesign.com Lynn Whitesell Harris Whitesell Consulting, LLC www.harriswhitesellconsulting.com Shakenna K. Williams, PhD Babson College http://www.Babson.edu Bonnie Wong Asian Women in Business www.awib.org Victoria Woods ChappelWood Financial Services www.chappelwood.com Mei Xu Mei Xu & Co. LLC www.meixu.com Sandra Yancey eWomenNetwork.com www.ewomennetwork.com Tina Young Quality Compliance & Management www.QCMConsulting.com Jenny Jing Zhu Lush Decor Home www.lushdecor.com enterprising Women 9
CELEBRATE by Edie Fraser Elevate and celebrate at the Enterprising Women of the Year Awards Conference Today, we honor the 25th anniversary of Enterprising Women, the premier magazine for women entrepreneurs, and celebrate the remarkable work of the Enterprising Women Foundation. Hats off to Monica Smiley for leading this mission with unwavering dedication and for being a steadfast friend, colleague to so many entrepreneurs and organizations, mother, and grandmother. This milestone isn’t just a celebration, it’s a testament to Monica’s resilience, vision, and unyielding commitment. It reflects the collective contributions of women entrepreneurs who understand the immense value of Enterprising Women, not only as a magazine but as the heartbeat of both a U.S. and a global movement. From the Advisory Board to the Enterprising Women of the Year awards and the impactful work of the Foundation, Monica and her team have created a platform that inspires, empowers, and transforms. Through her leadership, Enterprising Women and its Foundation have left an indelible mark on the entrepreneurial landscape. This work has amplified the voices of women business leaders, energized countless women with new skills and resources, and nurtured the dreams of the young women we mentor— girls whose lives are forever changed. This legacy continues to gain momentum and spark inspiration. Enterprising Women’s founding mission 25 years ago was to dream big, and in doing so, the magazine and the Foundation laid the groundwork for a lasting legacy that uplifts women and girls worldwide. Monica and the Enterprising Women team have led with humility, inclusivity, and grace, qualities that have inspired so many of us to stand by her side through the years. Today, we pause to honor and thank Monica, reflecting on the journey thus far and looking ahead to the opportunities the next decade will bring. The Enterprising Women Foundation and the Young Enterprising Women Mentoring Forum Program have grown into pillars of empowerment. I am so proud to stand with Monica and the other leaders across the country, with programs now thriving in 25 communities—many led by Enterprising Women Advisory Board members—with a vision to double the impact of the program in the coming year. The impact is extraordinary: thousands of girls inspired, hundreds of schools engaged, and scholarships that transform futures. With support from the Institute of Consumer Money Management (ICMM) and initiatives like Peace Through Business, these programs have become beacons of hope, lighting the way for future generations of women leaders. The Enterprising Women of the Year Award, the Hall of Fame, and now the Business Icon Award—are more than recognitions; they are milestones that celebrate perseverance, ingenuity, and impact. This year’s Corporate Legacy Award adds another meaningful layer to this legacy, and I have been proud to join with Pam Eason to help identify those corporate leaders. Monica, your entrepreneurial journey has been anything but easy—no such journey ever is. Yet, you have met every challenge with determination, focus, and unshakable clarity. Whether building the mentoring program in new communities, creating opportunities for others, or celebrating the remarkable achievements of women through your awards, you have turned obstacles into steppingstones. All the while, you’ve balanced the roles, never losing sight of your mission to create lasting change. You have built something extraordinary—respected, impactful, and enduring. Your leadership has inspired countless women to believe in their potential and pursue their dreams. And as you look to 2025 and beyond, your vision only grows stronger. You are unstoppable. (and we with you). Your passion and persistence are a shining example for us all. I have watched you overcome personal and professional challenges, sharpen your focus, and push the boundaries of what’s possible. You have shown us what it means to believe in a purpose so deeply that it fuels you to keep going, no matter the obstacles. As you expand your reach, engage more communities, and inspire others to believe in the power of women entrepreneurs, remember this: Yes, you can—and yes, we will. This work isn’t just about achieving dreams; it’s about building a world where countless others can achieve theirs. Monica, you have already changed so many lives, and now the Foundation for even greater impact has been laid. I, along with many others, will be here every step of the way—cheering you on and celebrating each milestone. Together, we will turn this vision into reality and create a legacy that inspires generations to come. Let’s build this future together. Let’s make 2025 the year we all say: Yes, we can—and yes, we did. We are behind you, Monica! Count us in! EDIE FRASER is the founder of the Women Business Collaborative, a 22-year member of the Enterprising Women Advisory Board and the National Co-Chair of the Enterprising Women Foundation. She has been inducted into the Enterprising Women Hall of Fame and has received the Enterprising Women Legacy Award and the inaugural Enterprising Women Business Icon Award in 2024. She is the winner of more than 80 major awards and the author of three books. Connect with Edie at edie@wbcollaborative.org. enterprising Women 11
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LEADERSHIP by Jodi Standke 25 years of women-led success The power of connection in business For 25 years, Enterprising Women has been a beacon for women business owners— celebrating their wins, advocating for their challenges, and showcasing the resilience of female entrepreneurs. Over these decades, the business landscape has transformed dramatically. Once a rarity, women-owned businesses are now a driving force in the global economy. Access to capital, leadership opportunities, and the ability to scale have all expanded. But while much has changed, one fundamental truth has remained constant: the human need for connection and belonging in our organizations. The evolution of women in business Twenty-five years ago, women entrepreneurs were pioneers in an often-unwelcoming business world. Many faced limited access to funding, societal skepticism, and the challenge of balancing family responsibilities with their ambitions. Yet, through resilience, innovation, and sheer determination, they built thriving enterprises. They leaned on each other, forming networks and alliances that not only provided support but also cultivated powerful business opportunities. The decades that followed saw legislative progress, shifting workplace norms, and a growing recognition of women’s leadership. Organizations dedicated to women in business flourished, mentorship programs became more common, and the digital age enabled even greater connectivity. Today, women-led businesses contribute trillions to the global economy, and female entrepreneurship is at an all-time high. One often unrecognized contributor to this positive shift is women leaders understand the fundamental need for human connection, trust, and belonging in our workplaces. Connection: The common thread through change Success in business has never been solely about profit margins, funding rounds, or market expansion. At its core, business is about people—the relationships we build, the teams we nurture, and the communities we serve. The desire to belong, to be seen and heard, transcends barriers of gender, age, race, language, and cultural differences. It’s what fuels our ability to lead and innovate. Once a rarity, women-owned businesses are now a driving force in the global economy. NicoElNino / Shutterstock.com enterprising Women 13
LEADERSHIP For women business owners, fostering connection has always been a powerful tool—not just for personal success but for lifting others. Today, women are in a position to take that sense of belonging and inclusion to the next level, ensuring that business communities are not just diverse but truly integrated and collaborative. We have the opportunity to bring not only women along but also men, youth, and individuals from all walks of life, uniting under the shared human need to connect and contribute. Beyond diversity: The future of inclusive leadership In today’s workplace, conversations about diversity, equity, and inclusion (DEI) are front and center. But true inclusion goes beyond numbers and policies—it’s about creating an environment where everyone feels valued and connected. Women business owners, more than ever, are uniquely positioned to expand this charge. By fostering workplaces and networks that emphasize genuine relationships, mentorship, and learning support, we can break down traditional barriers. When employees, partners, and clients feel a sense of belonging, engagement soars, creativity flourishes, and businesses thrive. This is the new model of leadership culturally but one that women leaders have been quietly championing —one that values not just representation, but meaningful connection. The role of women in shaping tomorrow’s business culture As we look ahead, the next generation of entrepreneurs will benefit from the transparent groundwork being laid today. Young professionals entering the workforce crave purpose-driven work, mentorship, and environments where they can be their authentic selves. Women business owners have a unique opportunity to model these values, not just for their female peers, but for all future leaders. How do women leaders actively demonstrate belonging and connection? Here are a few easy to integrate ways: ■ Mentorship and sponsorship: Women can play a crucial role in mentoring young entrepreneurs and advocating for the next wave of leaders. This means not just offering advice, but actively opening doors to job opportunities, referral networks and knowledge sharing. ■ Building collaborative networks: The future of business isn’t about going it alone; it’s about strategic partnerships, collaborations, and action across industries and generations. ■ Cultivating workplaces of trust: By prioritizing psychological safety, inclusion, and flexible work models, women leaders can redefine the modern workplace and the definition of work. ■ Self-awareness: Leaders who seek to understand themselves can begin to understand others. Being role models to develop emotional intelligence, practice critical thinking and understand perception are critical to a successful leader and encourage a workplace to follow the same practices. ■ Continual learning: By embracing continual learning, leaders are setting the example for their organizations. Learning occurs in stages of trial and error. Trial and error fosters creativity and innovation. The call to action: Leading through connection As we celebrate 25 years of progress with Enterprising Women, let’s not only reflect on how far women in business have come but also on how we can continue to shape the future. Success is no longer measured only by financial growth but by the impact we have on those around us. By championing belonging, fostering meaningful relationships, and leading with inclusivity, we ensure that the next 25 years are even more transformative. Personally, I started Talon 25 years ago. Although I worked mostly with older men in my early days, was called “honey” many times and had to tip toe around the successful women, I fully recognize the path was paved for me to be able to do whatever I set my mind to. I appreciate and thank those bold women who paved the way for me to enjoy the success I have seen in business and my career. I extend my outstretched thanks and gratitude – hoping that I too can continue to carve a path for those who are following me. Women business owners have long understood the power of connection. Now is the time to harness that power by prioritizing connection and wellbeing in our workplaces - not just for ourselves, but for our colleagues, our communities, and the next generation of leaders. Together, we don’t just break barriers—we build bridges. JODI STANDKE owns Talon Performance Group, a human development and talent alignment firm. For 30 years she has helped guide and navigate leaders through change and transformation. Talon works with organizations in growth or change mode and with individuals and groups to align their talent with their life work at all phases – emerging leader, leader or after retirement. Jodi is a nationally known speaker, leads retreats, workshops and is the co-founder of The Circle Tool, a decision-making tool to uncover what is hidden to promote critical, creative thinking and forward movement in times of transition and change. A member of the Enterprising Women Advisory Board and a past recipient of the Enterprising Women of the Year Award, connect with her at: www.TalonPerformanceGroup. com or www.TheCircleTool.com. Today, women are in a position to take that sense of belonging and inclusion to the next level, ensuring that business communities are not just diverse but truly integrated and collaborative. 14 enterprising Women
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REGISTER NOW! wbenc.org/conference NEW ORLEANS, LA JUNE 23-26 2025 The WBENC National Conference is a place where leaders gather, united by a shared goal of expanding economic impact and empowering women and small business entrepreneurs! 2 DAYS OF EXPO FEATURING CERTIFIED WOMEN-OWNED BUSINESSES AND THOSE WHO DO BUSINESS WITH THEM MEET & GREETS WOMEN OWNED PRODUCT DEMO STATIONS AND POP UP SHOPS THE COLLEGIATE ACCELERATOR PITCH COMPETITION COUNTLESS NETWORKING OPPORTUNITIES INDUSTRY LABS INSPIRING SPEAKERS REGISTER NOW! wbenc.org/conference NEW ORLEANS, LA The WBENC National Conference is a place where leaders gather, united by a shared goal of expanding economic impact and empowering women and small business entrepreneurs! 2 DAYS OF EXPO FEATURING CERTIFIED WOMEN-OWNED BUSINESSES AND THOSE WHO DO BUSINESS WITH THEM MEET & GREETS WOMEN OWNED PRODUCT DEMO STATIONS AND POP UP SHOPS THE COLLEGIATE ACCELERATOR PITCH COMPETITION COUNTLESS NETWORKING OPPORTUNITIES INDUSTRY LABS INSPIRING SPEAKERS
FINANCE by Marilyn J. Magett Developing financial strategies to accelerate the growth of your business As the CEO, your vision drives your business. You’re the one imagining new possibilities, setting ambitious goals, and steering your company toward success. But even with an inspired vision, financial growth can feel elusive. Business leaders often find themselves asking: “Why does it feel so hard to achieve my goals, even when revenue is growing?” The answer lies in understanding your financial numbers. It’s not just about balancing the books or generating revenue—it’s about interpreting your financials to align your vision with actionable strategies. Knowing your numbers is about more than profitability; it’s about creating clarity, confidence, and peace of mind while giving yourself the tools to scale your business effectively. Why knowing your numbers is essential For many CEOs, finances can feel overwhelming or even intimidating. After all, isn’t this why you hire an accountant, bookkeeper, or Chief Financial Officer? While these professionals are essential to the process, no one can replace the CEO’s business vision and understanding of how her business operates. Knowing your numbers allows you to create projections, make informed decisions, and strategize for growth. For example: ■ Want to scale? You can analyze your revenue goals and determine how many team members, resources, or investments are required. ■ Want to increase profits? You can identify inefficiencies, cut costs, and explore new pricing strategies. ■ Wondering about future growth? Financial clarity helps you plan what’s feasible and achievable within your time frame. You don’t need an accounting degree to understand your numbers. What you do need is the willingness to engage with them and connect your financial knowledge to your business vision. Two critical numbers to understand While there are 10 core financial metrics worth tracking, two numbers stand out for CEOs who want to grow their businesses and solve cash flow issues: Gross Profit Percentage and the Operating Cycle. Gross Profit Percentage (GPP) A common misconception is that revenue equals success. Many business leaders focus on revenue growth as the primary measure of their company’s performance. But revenue is only part of the equation; profitability is what matters most. Gross Profit Percentage (GPP) is the cornerstone of your company’s financial health. It tells you how much profit you’re making from each dollar of revenue, after subtracting the direct costs of producing your goods or services. Imagine two companies, each generating $10 million in revenue. Company A operates with slim margins, barely covering costs and producing little profit. Company B, on the other hand, achieves a higher GPP, resulting in $1 million in profit. Despite similar revenue, Company B is far healthier financially. Higher GPP means you have more room to cover operating expenses and invest in growth. Operating cycle Your operating cycle is the period between when you begin spending money to create your goods or services and when you finally receive payment for delivering them. If it takes 15 days to produce and deliver your product and another 45 days to receive payment, your operating cycle is 60 days. Knowing your operating cycle is important, because you need enough working capital to cover your liabilities and expenses for the entire period. Imagine running a business where your monthly expenses are $1 million, and your operating cycle is six months. You need at least $6 million in working capital to sustain operations. Ignoring this metric and relying solely on monthly expenses to calculate your working capital needs can result in constant cash shortages, forcing you into reactive decision-making instead of proactive financial planning. By factoring your operating cycle into your financial strategy, you can better anticipate your cash flow needs and avoid the stress of running short. This level of financial clarity is key to maintaining control and supporting sustainable growth for your business. Flexibility and creativity in achieving goals Understanding your financial numbers empowers you to solve challenges creatively. Let’s say you don’t have enough working capital to cover your operating cycle. You could secure a line of credit to cover the difference. Alternatively, you could explore ways to reduce your working capital needs or shorten your operating cycle. All are different ways to ensuring that you have the cash flow needed to cover liabilities and expenses. Which approach is right for you depends on your vision and how your business operates. A CFO can guide you through various scenarios, helping you explore options that align with your vision and values. Financial clarity gives you the tools to make decisions that maximize profit without compromising your long-term goals. Case study: Turning losses into profits Consider the story of a business leader we’ll call Susan. Susan’s company had seen rapid growth, with increasing demand for its products and rising revenue. Yet, cash flow was a constant struggle, and she couldn’t figure out why. A review of the company’s financials revealed that the business had lost over $650,000 in the prior two years due to enterprising Women 17
FINANCE low profitability and mismanagement of finances. Working together with a CFO, Susan learned to understand her numbers, make projections, and identify where adjustments were needed. By the end of the first year, Susan’s company turned a $300,000 annual loss into a small profit of $33,000. While modest, this profit represented a $333,000 turnaround. By continuing to implement changes, the company was on track to generate significantly higher profits the following year. The importance of timely reporting Another key to financial success is reviewing reports regularly. Some CEOs make the mistake of reviewing financials only quarterly or even annually, but this delays your ability to act on problems. For example, if you discover a profitability issue at the end of a quarter, you’ve already lost three months’ worth of time to correct it. Reviewing reports monthly—or even weekly for critical metrics like utilization—ensures you can make adjustments quickly and minimize losses. Your financial reporting cadence matters. The sooner you identify challenges, the faster you can implement solutions. Where to start If you’re ready to take control of your finances, start with these steps: 1. A ssess your profitability: Review your GPP and Net Profit Percentage. If you’re not profitable, identify where adjustments are needed. 2. U nderstand your operating cycle: Calculate how long it takes to recover your costs and plan accordingly. 3. W ork with a CFO: Collaborate with a CFO to analyze your financials, create projections, and develop strategies for growth. 4. C ommit to regular reporting: Review financial reports monthly to stay proactive and informed. By understanding your numbers, you gain the confidence to lead your business effectively, communicate your financial health to lenders, and make decisions that align with your vision. Every CEO needs financial clarity Financial clarity is a powerful tool for any CEO. It not only helps you make better decisions, but also gives you peace of mind and confidence in your business’s future. With the right strategies and support, you can lead your company to new heights while maintaining clarity, confidence, and control every step of the way. MARILYN J. MAGETT leads Evolve CFO Services and Is a member of the Enterprising Women Advisory Board and a past recipient of the Enterprising Women of the Year Award. Learn more and connect: www.evolvecfoservices.com. 18 enterprising Women
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FINANCE by Kathie Okun Plan smart & avoid pitfalls in retirement Much is written about the classic financial mistakes that plague start-ups, family businesses, corporations, and charities. Some classic financial missteps have been known to create disadvantages to retirees, too. Calling them “missteps” may be a bit harsh, as not all of them represent errors in judgment. Either way, becoming aware of these potential pitfalls may help you to avoid falling into them in the future and to plan smart for your retirement days ahead. Managing Social Security Social Security benefits are structured to rise about 8% for every year you delay receiving them after your full retirement age (FRA). For many FRA is age 67, so this growth takes place between age 67 and 70. Contrast this by applying for your monthly benefits before you reach your full retirement age can also mean comparatively smaller monthly payments. Managing medical costs. One report estimates that the average couple retiring at age 65 can expect to need $315,000 to cover health care expenses during their retirement, even with additional coverage such as Medicare Part D, Medigap, and dental insurance. Consider and apply for Extended Care Coverage, better known as Long Term Care (LTC) medical coverage. This needs your attention before it’s too late and while you are still in good health, is the time to apply for this valuable coverage. Having a strategy can help you be better prepared for medical costs and strengthen your retirement income outcome. There are many types of coverage to consider, some known as “hybrid LTC”, which provides a death benefit should you not ever need the LTC and pass away while the plan is in force. Understanding longevity Actuaries at the Social Security Administration project that a 65-yearold US male has a 34% chance, and a 65-year-old US female has a 45% chance to live to age 90. The prospect of a 20- or 30-year retirement is not only reasonable, but it should be expected. Inflation, the hidden erosion factor Inflationary pressures on our dollar can put us in a squeeze. As we live longer, the compounding of such is the hidden, but very real threat to each dollar we save and eventually spend. Make sure you plan to invest to outpace longevity, inflation, and as you will see coming up, taxes. Lightspring / Shutterstock.com enterprising Women 21
FINANCE The Talent Behind the Technology ECCO Select is proud to provide people, process and technology solutions to meet our clients’ needs. We are a talent acquisition and advisory consulting company, and the talent behind the technology. As a woman and minority-owned business, we honor those trailblazers who paved the way to allow us opportunities for success. ECCO Select - The Talent Behind the Technology WBE/MBE Certified | 888.567.ECCO | www.eccoselect.com 1601 Iron Street, Suite 200, Kansas City, MO 64116 Serving clients nationwide since 1995. The Right Talent at the Right Time IT SERVICES TALENT CONSULTING TRAINING JEANETTE HERNANDEZ PRENGER Founder & CEO, ECCO Select Managing taxes Some people enter retirement with investments in both taxable and taxadvantaged accounts. Which accounts should you draw money from first? To answer the question, a qualified financial professional would need to review your financial situation so they can better understand your goals and risk tolerance. While planning for taxation in retirement, consider the advantages of a Roth IRA, Backdoor-Roth, IRA to Roth IRA Conversions or a Roth 401K. Each of these vehicles can be extremely valuable in retirement and as your retirement entitlement benefits, like Medicare and Social Security are charged or taxed according to your “taxable income.” Roth income is the only truly, non-taxable income stream, and helps you avoid loss of income due to these factors. Managing withdrawals You may have heard of the “4% rule,” a guideline stating that you should take out only about 4% of your retirement savings annually. Each person’s situation is unique but having some guidelines can help you prepare. If you can stick to a 4% withdrawal rate as an example and earn conservatively on your invested portfolio of 5-6% annual return, you will possibly not outlive your savings. This will depend on all factors you need to consider when planning. This article is for informational purposes only and is not a replacement for real-life advice, so make sure to consult your tax, legal, and accounting professionals before modifying your investment strategy for tax considerations. Managing other costs, like college There are no “financial aid” programs for retirement. There are no “retirement loans.” There are no lines of credit, since these usually rely on earned income as one qualification, and there are no scholarships to help! So, helping your family with college expenses, while awesome, needs to carefully be considered. On the other hand, a financial professional can help you review your anticipated income and costs before you commit to a long-term strategy, and help you make a balanced decision between retirement and helping with the cost of college for your children or grandchildren. KATHIE OKUN is the president of The Okun Group and a member of the Enterprising Women Advisory Board. Connect with her at kokun@ OkunFinancialGroup.com or call 410-496-6130. 22 enterprising Women
FINANCE by Susan Michel The money talk Having crucial financial conversations with aging parents As entrepreneurs, we excel at turning difficult conversations into opportunities—except when it comes to money talks with our parents. While we confidently navigate business challenges and financial decisions daily, broaching the subject of inheritance, care, and estate planning with our aging parents often leaves us hesitant and uncertain. Yet breaking this silence isn’t just about family harmony; it’s about securing our legacy. Here’s how to start. Breaking the silence The statistics are eye-opening: 64% of wealthy individuals haven’t discussed their asset transfer plans with family members, and only 17% say their heirs are well-informed about their wealth levels. Even more striking, more than 50% of heirs over age 50 only learn about their inheritance after their benefactor has passed. These numbers tell us one thing clearly: we’re avoiding these conversations, but we shouldn’t be. These conversations are not just for the wealthy. It is important that we know our parents’ wishes about care and long-term health, no matter what their financial situation is. We often remind our clients that these conversations are going to take place either way, and it is better for you to be a part of them than to leave your kids to these decisions without you present. Our parents’ generation Baby Boomers (born 1946-1964) control over 50% of U.S. wealth,and they tend to be private about money matters. They’ve built their success through decades of work and understand the value of careful financial management. How different generations view money ■ Generation X (born 1965-1980): Juggling care for both parents and kids, they’re practical about money. They learned from watching their parents’ money struggles and prefer direct financial discussions. ■ Millennials (born 1981-1996): More open about money than their parents were. They face unique financial challenges but focus on planning for the future. ■ Generation Z (born 1997-2012): Smart about money and driven by their values. They’re comfortable discussing finances and expect family money conversations to be open and honest. These generational differences can help bridge communication gaps. The way families talk about money is timurockart / Shutterstock.com enterprising Women 23
FINANCE FUTURE-PROOF YOUR BUSINESS IN 15 MINUTES The future of business is moving fast. Is your business ready? Our 15-minute Health & Value Assessment will pinpoint your strengths and weaknesses, giving you the insights you need to thrive in 2025 and beyond. Don't let opportunities pass you by. Discover your business's full potential today. Deborah Snyder Director of Partnerships deborah@cultivateadvisors.com changing, with younger people being more direct about inheritance and wealth. How to start the conversation The key to successful family money talks lies in how we approach them: 1. P ick the right setting: A quiet lunch or family gathering where everyone can focus. 2. F ind common ground: Discuss shared goals for long-term well-being and family harmony. 3. S tart simple: Begin with basic topics like document organization before tackling complex matters. 4. L isten carefully: Give space for parents to share their views, watching for unspoken concerns. 5. T ake it slow: These conversations will take place over multiple meetings. Give everyone time and space to think before jumping in again. Don’t feel like you need to conquer everything in one conversation. Making progress together Start with a casual coffee chat about hopes and plans. Think of it as building a bridge between generations—one conversation at a time. Apply your business skills to this sensitive discussion: ■ Consider all perspectives ■ Find common ground ■ Be patient with the process ■ Keep communication channels open ■ Work toward clear, shared objectives These conversations aren’t just about money—they’re about showing we care about our shared future. It may feel uncomfortable at first, but it gets easier with practice. The key is starting now, not waiting for a crisis to force these discussions. When we lead with respect for our parents’ independence and wisdom while being clear about our care and concern, we can create lasting bonds that strengthen our families. Begin this journey today, as it will strengthen both your family bonds and financial future. SUSAN MICHEL is the founder and CEO of Glen Eagle Advisors, LLC, an SEC-registered investment advisor located in New Jersey. Offering retirement planning to business owners and wealth management, the Glen Eagle team takes an educational, holistic approach to meeting their clients’ long-term goals. Susan is a member of the Enterprising Women Advisory Board and a past recipient of the Enterprising Women of the Year Award. She was named an Enterprising Women “Top 20 in 2020” Award Winner. Learn more and connect at www.gleneagleadv.com. 24 enterprising Women
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