$8.00 Winter 2025 Unlocking Trillions: The power and potential of women entrepreneurs On the cover: Sima Ladjevardian, President, Women’s Entrepreneurship Institute Access to Capital from Start Up to Exit: The resources you need to grow, innovate and build generational wealth SPECIAL SECTION: Entrepreneurs of Purpose Scaling businesses, leaving a legacy
Bank of America, N.A., Member FDIC ©2024 Bank of America Corporation. All rights reserved. MAP6161919 | AD-11-23-0419 Ready for the next step on your journey? Great things can happen when you make every move matter. Building a business takes skill and determination. But it also helps to have a network of support. At Bank of America, we listen to your business goals and help you achieve them. With our financial expertise and your dedication, there’s nothing you can’t accomplish. Let’s take the next step together. Please take a moment to schedule an appointment with a Bank of America small business banker. To learn about the resources and support we offer women small business owners, or to make an appointment, scan or visit: bankofamerica.com/SBwomen.
Enterprising Women Foundation Welcomes Entrepreneurs of Purpose As this issue of Enterprising Women was in final production, we were excited to announce that the Women Business Collaborative (WBC) Entrepreneurs of Purpose (EOP) program developed under the leadership of Edie Fraser and Sharon Reynolds, co-chairs, will officially become a part of the Enterprising Women Foundation effective Jan. 1, 2026. The Entrepreneurs of Purpose program closely aligns with the mission of the Enterprising Women Foundation, and we are so proud to work with longtime Enterprising Women supporters Edie and Sharon to help women grow and scale their businesses with purpose and impact. We are presenting a special section on the EOP program in this issue (see pages 48-55) and are pleased that every issue of the magazine moving forward will contain a section devoted to this program. We are delighted to shine a front cover spotlight on Sima Ladjevardian, a co-founder and president of the newly formed Women’s Entrepreneurship Institute. WEI will meet an important need as it transforms how data is collected and used, how resources are connected, and how stakeholders collaborate to unlock women’s economic power. Read more about the exciting plans for the Institute in Sima’s cover article on pages 28-30. I am proud to serve on the new Advisory Council for the Women’s Entrepreneurship Institute and look forward to working with other leaders of the women’s business community as the Institute becomes a catalyst for change. Our cover theme this issue centers on accessing capital—from understanding how the right capital at the right time determines whether a business merely survives or truly thrives, in the words of authors Gwen Young and Judith Goldkrand (page 36). Transforming the capital landscape at the local, national and global levels are explored in this issue, with practical resources that can help readers close the gap, unlock innovation, fuel growth, and build generational wealth. Special thanks to Virginia Littlejohn, an Enterprising Women Hall of Famer, global thought leader, and close friend who devoted countless hours to coordinating our access to capital cover section in this issue, and for her in-depth article on building the global financial ecosystem for women entrepreneurs (pages 43-48). Our gratitude, as well, to the many partners leading the way in the capital space who shared their wisdom, insights, and resources for this issue. As we go to press, we are preparing for the 24th Annual Enterprising Women of the Year Awards Celebration & Conference. Award honorees, members of the Enterprising Women Advisory Board, Entrepreneurs of Purpose, and other thought leaders in the women’s business community will come together on March 8-10 at the Ritz Carlton in New Orleans. Registration opens in December so consider joining us for this remarkable gathering. Learn more at www.enterprisingwomen.com. Our Foundation’s Young Enterprising Women Mentoring Forum Program is hosting events from the fall of 2025 to the spring of 2026 in 30 cities, with thousands of high school young women impacted with financial literacy education, connections to careers in the STEM fields and entrepreneurship, and powerful mentoring that can be life-changing. Our thanks to our event chairs around the country (and in Canada) who are devoting many volunteer hours to making a difference in the lives of so many young women in their communities. Our YEW program culminates in our Young Enterprising Women National Leadership Conference, April 24-26 in Washington DC, where we plan to host 100 scholarship recipients from across the U.S. and Canada. Mentors and volunteers are always needed so reach out to us if you are interested in giving back through this phenomenal program. And last, but far from least, Manizha Wafeq shares insights on our Peace Through Business Program (page 85), which will celebrate 20 years of impact in 2026 educating, mentoring and empowering women entrepreneurs in Afghanistan, Rwanda, Uganda, and immigrant women in the U.S., Canada and the United Kingdom. Consider donating, mentoring and supporting this program by visiting our foundation website at www.enterprisingwomenfoundation.org. Enjoy this issue and reach out to me anytime at msmiley@enterprisingwomen.com. Monica Smiley, Publisher/CEO enterprising Women 3 Monica S. Smiley FROM THE PUBLISHER
enterprisingwomen.com Women THE VOICE OF WOMEN ENTREPRENEURS Vol. 26, No. 4, Winter 2025 FEATURES COVER SECTION: Access to capital from start-up to exit. 28 U nlocking trillions: The power and potential of women entrepreneurs. 33 C apital, confidence and connection: How WBENC LIFT is reshaping the growth journey for women-owned and small businesses. 36 Transformative capital by and for women: Unlocking opportunity through the WBC Women’s Capital Summit. 40 H ow technology is reshaping access to high-growth investing. 41 G olden Seeds: What 20 years of investing in women has taught us. 43 B uilding the global financial ecosystem for women entrepreneurs. 46 P ractical financing strategies for women business owners. 47 A directory of global finance resources. ENTREPRENEURS OF PURPOSE SECTION: 49 S caling with purpose: The Entrepreneurs of Purpose blueprint for transforming relationships into results. 51 A snapshot of 28 Entrepreneurs of Purpose who are scaling their businesses and building legacies. EDITOR & PUBLISHER Monica S. Smiley EDITORIAL DIRECTOR Carol L. Genee ASSOCIATE EDITOR Kathy Ann Moilanen PRODUCTION MANAGER Carley M. Dancer CONTRIBUTING WRITERS: Susan Michel Marilyn Magett Jill Vitiello Caryn Kopp Brittany N. Cole Sandi Webster, PhD Kimberly Taylor Jodi Standke Lori Harris Sima Ladjevardian Andrew Gaeckle Gwen Young Judith Goldkrand Trish Costello Jo Ann Corkran Loretta McCarthy Virginia Littlejohn Edie Fraser Sharon Reynolds Jennifer Barnes Jennifer R. Levin, PhD Liz Wool Kathy Durfee Lori P. Purnell Dana W. Chang Victoria Woods LuzElena Rivers, DBA Vanessa Best Anne B. Freedman Michelle Heath Judi Sheppard Missett Dr. Arianna Sholes-Douglas, MD Manizha Wafeq Kate Isler 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. 4 enterprising Women
DEPARTMENTS FINANCE 8 Reinvention at any age: Funding your next chapter. 10 H ow to create a financial management strategy that empowers your business. SALES AND MARKETING 12 T he secret sales strategy that checks all the boxes. 14 W hen to outsource your door opening versus hiring a sales development rep. 16 H ow strategic positioning opens doors to capital, contracts and growth. MANAGEMENT AND LEADERSHIP 18 T he top five things that scare business owners starting with running out of money. 20 T he power of mediation: Resolving business conflicts with practical solutions. 22 W hy smart, capable leaders still feel uneasy. 24 B eyond the budget: Using strategic leadership development to maximize human capital ROI. HR 56 P olyworking is on the rise—and companies aren’t ready. 58 T he business case for trauma informed leadership: Five ways leaders can support employees through grief and loss. 60 E quip your team with unshakeable confidence. 64 H ow to reduce workplace stress for remote, hybrid or in-person employees. TECHNOLOGY 62 R eadying your business culture for AI agents. 66 H ow smart technology scales a business, not just its workload. 67 A I won’t replace you, but it will leave you behind. SPEAK OUT 68 H ealth equity is the next frontier for women entrepreneurs. PERSONAL GROWTH 70 T ips and techniques to help you make your next presentation. BOOKS 72 U nrivaled: Five Steps to Achieving Explosive Business Growth, by Michelle Heath. HEALTHY YOU 78 S tuck, down or overwhelmed? Try something new. 80 W hat I wish I’d known before menopause. 82 T he power of euphoria: Sustaining the natural high of happiness and purpose. GLOBAL VIEW 85 O ur continued commitment: Why Peace Through Business still works in Afghanistan. On the cover: Sima Ladjevardian, President, Women’s Entrepreneurship Institute. Photo by Wilson Parish Photography. SPOTLIGHTS 74 Cynthia Chen, Kikoff 76 Kamille Richardson, iSee Technologies COLUMNS 3 Publisher's note 86 Endnote enterprising Women 5
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 Vanessa Best Precision HealthCare Consultants www.precisionhcc.com Fran Biderman-Gross Advantages www.advantages.net Gloria Bohan Omega World Travel www.owt.net Giselle Bonzi Washington Capital Partners www.washingtoncapitalpartners.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 Brittany N. Cole Career Thrivers www.careerthrivers.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 Karen DeYoung DeYoung Consulting Services www.deyoung-consulting.com Harriet Diamond Author, writer, speaker www.harrietdiamond.net 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 Enterprising Women Foundation www.enterprisingwomenfoundation.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 Nadine Green The C-Suite Group www.thec-suitegroup.com Lili Hall KNOCK, Inc. www.knockinc.com Monick Halm Real Estate Investor Goddesses www.realestateinvestor goddesses.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 Marilyn Johnson MarilynjSpeaks.com www.marilynjspeaks.com Kathy Kamei Kathy Kamei www.kathykamei.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 Lisa Larson-Kelley Quantious www.quantious.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 Andrea March Women’s Leadership Exchange www.womensleadership exchange.com Angela Marshall, MD Comprehensive Women’s Health www.mdforwomen.com 6 enterprising Women
Kris Martinez Martinez Creative Group www.martinezcreativegroup.com Patricia Marx New World Van Lines www.newworldvanlines.com 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 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.enterprisingwomenfoundation.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 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 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 Hedy M. Ratner Women’s Business Development Center www.wbdc.org Fabi Preslar SPARK Publications www.sparkpublications.com Lori Purnell Spencer-SHE www.spencer-she.com 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 Hedy M. Ratner Women’s Business Development Center www.wbdc.org 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 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 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 Simon Associates Management Consultants www.simonassociates.net Robyn Smalletz Gloria Duchin, Inc. www.gloriaduchin.com Tressa Smallwood MegaMind Media www.megamindmedia.com Deborah Snyder Cultivate Advisors www.cultivateadvisors.com Maria de Lourdes Sobrino Lulu’s Dessert Inc. www.lulusdessert.com Carol Soman Dashboard Enterprises www.dashboardny.com Myra Stacey Print & Web Designer www.printandwebdesigner.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 Tricia M. Taitt FinCore www.FinCore.com Michelle Taylor BETAH Associates www.betah.com Shelli Tench Shelten LLC www.sheltenllc.com Tonya Thomas Team Delegate www.teamdelegate.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 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 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 Liz Wool Public Speaking & Presentation Pros www.woolcg.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 7
FINANCE by Susan Michel Reinvention at any age Funding your next chapter As women business owners, we know reinvention is not a one-time event—it is part of growth. Maybe you are considering expanding into a new market, launching a complementary product, or transitioning your business to the next generation. You could also be considering scaling down, building a more flexible model, or exploring a new initiative that reflects your values. The challenge isn’t coming up with the idea – it’s ensuring your finances can support the vision. Let’s look at strategies that can help you plan your next chapter without sacrificing your financial security. Understanding the trade-offs Wanting to make a change and being able to afford it are two different things. It’s a challenge most entrepreneurs know well. In fact, a recent survey found that more than half of business owners believe that reinvesting in new opportunities is worth short-term financial strain, but that doesn’t mean it is easy. The good news? As entrepreneurs, we already think in terms of costbenefit tradeoffs, cash flow, and contingencies in our businesses every day. The same principles that keep your company stable can also guide your next chapter. Understanding your financial reality One of the most common mistakes is making spending decisions based on income expected but not yet received. Before launching a new division, buying out a partner, or scaling your operations, start by assessing your “runway” - how long your business and household could sustain themselves if revenue fluctuates during the transition. An easy way to think about it is: current liquid savings ÷ monthly business and personal expenses = months of runway. Ask yourself these questions: ■ What reserves do I have for unexpected expenses or slow periods? ■ How will this change affect my cash flow in the short term (6-12 months)? ■ Can I fund growth internally, or do I need outside funding? ■ What is my plan B if the transition takes longer than expected? Being clear on your numbers helps you make confident, strategic decisions—not reactive ones. Investing in growth, leadership and learning Reinvention does not always mean starting over. Sometimes a fresh start means investing in yourself or your team through education or new skills. Whether it’s an executive education program, a leadership retreat, or a certification that helps you expand your services, treat these as growth investments, not expenses. Consider these funding strategies: 1. 529 College Savings Plans: These accounts offer tax-deferred growth and tax-free withdrawals for qualified education expenses. A common misconception is that 529 accounts are only for traditional four-year colleges. They can also be used for vocational programs, trade schools, and certificate programs. 2. Grants and fellowships for entrepreneurs: Many organizations and universities now offer funding or scholarships for women-owned businesses seeking leadership training or innovation initiatives. 3. Alternative educational formats: Don’t overlook online programs and community colleges. They are usually more affordable and flexible, which means you can keep working (and earning) while you learn. From passion to profit Thinking about a passion project? Before you start, ask yourself: Is this for fun, or could it become a source of income? If you’re hoping to turn your passion into a business, be strategic about it: ■ Maintain your current income – at least initially. Most people keep their day jobs while building something on the side. This takes the pressure off and lets your project grow sustainably. Reinvention does not always mean starting over. Sometimes a fresh start means investing in yourself or your team through education or new skills. wallerichmercie / Shutterstock.com 8 enterprising Women
■ Budget for real costs like materials, equipment, software, marketing, contractors, and business licenses. These expenses add up faster than you might expect. Whether you’re starting a blog, launching a podcast, opening an online store, or building a consulting practice, treat it like a business from day one. Proper planning and realistic budgeting increase your chances of success. Making your move with confidence Whether your goal is growth, succession, or greater work-life balance, reinvention works best when it is planned, not impulsive. Here are a few practical steps: 1. Know your numbers: Calculate how long your savings will last based on your essential expenses during a transition. 2. Build a cushion: Aim to have several months of expenses saved before making a major move. The duration depends on your situation and comfort level. 3. Test before you leap: Try your new direction while keeping your current income. This lets you assess whether it’s viable before fully committing. 4. Treat education like any investment: Apply the same analysis to skill-building that you would to other major financial decisions. You can do this! Strategic planning and calculated decisions are skills you use in your business every day—now apply them to your own next chapter. Amelia Earhart put it perfectly: “The most difficult thing is the decision to act, the rest is merely tenacity.” Make the decision, do your homework, then follow through. The rest is execution – and as entrepreneurs, that’s what we do best. 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. Whether your goal is growth, succession, or greater work-life balance, reinvention works best when it is planned, not impulsive. Workforce Solutions Provider Clinical & Non-Clinical Support, Operations & Administrative Support, Research Support, Call Center and other healthcare support. Project Management People and Change Management, Call Center, Contact Center Management Research Services Study design, Data collection and analysis, and project management. Streamline billing, coding, claims management, and payment processing, ensuring maximum reimbursement for the exceptional care you provide. Training Design and Delivery Instructional Design and Development, Facilitation and Training Delivery Revenue Cycle Management 919-977-0841 info@gracefederalsolutions.com www.gracefederalsolutions.com Iris Phillips President & CEO enterprising Women 9
FINANCE by Marilyn Magett How to create a financial management strategy that empowers your business Financial management often gets a reputation for being dry or overwhelming. But the truth is: when it’s done with intention, clarity, and vision, it becomes one of the most empowering aspects of your business. A sexy financial management strategy isn’t about making numbers glamorous. It’s about creating a system that feels powerful, inspiring, and aligned with your bigger picture. Sexy finance gives you clarity, confidence, and the freedom to design a business—and a life—you truly love. At its heart, a compelling financial strategy connects day-to-day money management to the big-picture goals that motivated you to start the business in the first place. Vision: Start with the end in mind Every sexy financial strategy begins with vision. Without it, financial data is just numbers. With it, those numbers become a roadmap for sustainable growth. Ask yourself: ■ Do you want to expand into new markets? ■ Build a business that funds a flexible lifestyle? ■ Create generational wealth for your family or community? ■ Position your company for an eventual sale? Your vision shapes your financial decisions. Pricing, cash flow planning, and investment strategies all gain meaning when they are tied to where you want to go—not just where you are today. Mindset: CEO thinking is sexy The way you think about money determines how you use it. Too often, business owners avoid their numbers out of fear or overwhelm. But stepping into CEO-level financial leadership means replacing avoidance with curiosity and fear with confidence. A strong financial mindset includes: ■ Curiosity: Ask what your numbers are telling you. ■ Confidence: Believe you can grow into financial leadership. ■ Empowerment: Delegate tasks but never abdicate ownership of direction. When you lead with this mindset, financial management stops being intimidating and starts feeling like a tool for empowerment. Ditch the budget, build a freedom forecast Traditional budgets often feel restrictive—more like a diet than a strategy. A freedom forecast shifts the focus from cutting back to creating the future you want. ■ Define your freedom number: This isn’t just a revenue target; it’s the financial metric that represents your ultimate goal. Maybe it’s the profit that lets you hire a key employee, take a month-long vacation, or retire early. ■ Create realistic projections: Use historical data and market trends to build a forward-looking forecast. Plan for three scenarios: • Base case: your most likely scenario. • Best case: optimistic, high-growth results. • Worst case: a conservative scenario that prepares you for downturns. ■ Track against your goal: Regularly compare actual performance to your forecast. Instead of dreading financial reviews, you’ll see them as checkpoints on your journey to freedom. This approach turns money management from a chore into a roadmap for achieving your dream life. Choosing strategic metrics that match your vision Numbers are powerful, but not all numbers matter. The key is choosing metrics that align with your freedom forecast and overall vision. Different goals call for different starting points: ■ It all begins with revenue → Track pipeline, conversion rates, and customer acquisition costs. ■ It all begins with a new product or service → Monitor launch ROI, R&D costs, and time-to-market. ■ It all begins with delivery goals → Measure client satisfaction, efficiency ratios, and delivery margins. ■ It all begins with lifestyle → Prioritize owner’s compensation, reserves, and profit margins tied to personal freedom. When your metrics reflect your vision, every financial decision becomes more intentional. Cash flow management: Your lifeline Once you know which metrics to track, it’s time to manage the most critical one: cash flow. Profits may look impressive on paper, but cash flow is what keeps the doors open and fuels growth. The cornerstone of sexy cash flow management is the 13-week cash flow projection: ■ Short-term clarity: By projecting cash in and cash out over the next quarter, you can anticipate crunch points before they happen. ■ Decision support: See when to speed up collections, delay expenses, or tap reserves. ■ Peace of mind: Regular updates to your projection give you the confidence to bsd studio / Shutterstock.com 10 enterprising Women
A CREATIVE AGENCY KNOCKINC.COM ACCELERATING THE SUCCESS OF ALL WOMEN. ESTd 2001 make bold moves without worrying about payroll or bills. Think of the 13-week projection as your financial runway—it shows exactly how far you can go before needing more fuel. When paired with your freedom forecast, it creates both vision and day-to-day confidence. Clarity, confidence & cash flow: The three pillars A sexy financial management strategy rests on three core pillars: 1. Clarity – Numbers should be easy to see and understand. Dashboards, visuals, and structured reviews keep information accessible. 2. Confidence – Tools like the 13-week cash flow forecast and reserve plans remove uncertainty. 3. Cash flow – Systems to monitor inflows and outflows ensure you always know where money is going and how it fuels growth. Together, these pillars transform your financial system into a true growth engine. Systems that work while you sleep Sexy financial strategies aren’t about micromanaging spreadsheets—they’re about building systems that work for you. ■ Automated reporting keeps information current. ■ Delegated tasks like bookkeeping and reconciliations free up your time. ■ Structured monthly reviews turn reports into actionable insights. With the right systems, you stay informed without being bogged down in the details. Why this matters At the end of the day, a sexy financial management strategy isn’t about numbers—it’s about freedom. It’s about connecting the financial choices you make today with the business and life you want tomorrow. By anchoring your strategy in vision, mindset, your freedom forecast, cash flow discipline, and the right metrics, you gain clarity, empowerment, and the ability to scale with confidence. That’s what makes financial management not just smart—but undeniably sexy. MARILYN MAGETT is the Founder & President of Evolve CFO Services, offering a defined process for the Fractional CFO Services provided including an initial assessment, a strategic plan, followed by ongoing CFO services. She is the author of the Financial Breakthrough Roadmap Online program designed to offer a do-it-yourself initial financial assessment for businesses with revenues below $1.5 million. She is a member of the Enterprising Women Advisory Board, and a past recipient of the Enterprising Women of the Year Award. Connect to learn more at Evolvecfoservices.com/contact-us/. enterprising Women 11
SALES & MARKETING by Jill Vitiello The secret sales strategy Yesterday, I was catching up with a former colleague, who is a seasoned leader of a global communications agency. She mentioned that she had just returned from an industry conference, where she met a lot of interesting people at the mid-career level. The best thing about the event, she reported, was the casual conversations where she could hear about their issues and offer advice and encouragement that they seemed to appreciate. “You never know,” she said. “If one of those folks goes back to the office and mentions that I was helpful, we might land a new client.” I couldn’t help smiling. “You never know” is the secret sales strategy I had preached to her and our team for years. It was rewarding to hear her embrace it in her own way. While my colleague admits she is “not really a salesperson,” she is very happy helping people. I have no doubt that her attitude of generosity and giving back to the community will ultimately lead to sales. In my experience, it usually does. The late, great Zig Ziglar famously said: “You can have everything in life you want, if you will just help enough other people get what they want.” When I was a new business owner, I studied Ziglar’s approach and adapted it to our industry – communications consulting. I observed that there was an abundance of smart people pitching their innovative approaches to solve pervasive corporate problems. But, I noticed, buyers were cautious. In our business, the best marketing strategy was word of mouth – personal endorsements among professionals. It seemed to me that the successful consultants were the ones who freely shared information, resources, and contacts with the aim of supporting their peers. With that in mind, we didn’t just join industry organizations; we volunteered in leadership roles, delivered educational workshops, and sponsored events. We didn’t just attend gatherings; we introduced people to one another and included newcomers in conversations. We didn’t just log contact information into our customer relationship management tool; we followed up with people on their important life events, marked milestones with cards and texts, remembered birthdays and work anniversaries, and celebrated their promotions. By taking a genuine interest in people, we developed enduring relationships. Some folks in our network became loyal clients, sticking with us for decades and recommending us to their colleagues. Others remained fans, singing our praises and advancing our status in the industry. Through it all, we helped enough people get what they wanted – whether it was a program to educate and engage employees, a change initiative with a human element, or a set of communication tools and content to improve performance – so that we got what we wanted – a sterling reputation for excellence and reliability. As business owners, we wish we could predict the exact return on investment for any marketing effort or professional development opportunity. Is it worth the money? Is it worth our time? Will it lead to sales? Most often, the answer is: “you never know.” Here are a few unusual criteria to help you decide how to allocate your resources this coming year: 1Is it fun? Will the conference be held in an interesting city? What excursions are planned? Does it allow me to indulge a few hours in my personal interests such as an art museum or a sporting event? 2Will it inspire? What activities might spark creativity in me or my team? Can we bring the learning back to the whole company? To our clients? How will this experience allow us to be more relevant? 3Does it make me curious? What don’t I know about this topic? Who are the influencers? What cause does this group support? 4How can I contribute? Do they need volunteers at the event? Would my expertise help participants learn a new skill or gain fresh insights? 5Who will I meet? Will the author hold a Q&A and book signing? Are there other experts planning to attend? Can I schedule a coffee date with someone I’ve been interested in getting to know? Embracing the concept of “you never know” allows a curiosity and openness that can lead to pathways you didn’t know existed and open doors that might otherwise stay closed. For my former colleague, it is leading to serendipitous surprises, and I have no doubt, sales. How about you? You never know! If you are looking for an opportunity that checks all the boxes above, be sure to register for the Enterprising Women of the Year Awards Celebration & Conference, March 8-10, 2026, The Ritz-Carlton, New Orleans. JILL VITIELLO writes and speaks about women in business, leadership, communications, and allyship advocacy. She was the founder and CEO of Vitiello Communications Group, one of the first woman-owned employee engagement and communications agencies in the United States. In 2020, the agency was acquired by the Huntsworth Group, now Inizio. Jill is a member of the Enterprising Women Advisory Board. venimo / Shutterstock.com 12 enterprising Women
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SALES & MARKETING by Caryn Kopp When to hire an outsourced ‘Door Opener’ versus a sales development representative If you are ready to stop guessing and start getting meetings without losing your sanity, please read on. The pipeline panic If you’ve ever stared at your sales pipeline and thought, “We need more meetings with real decision-makers,” you’ve arrived at a common crossroads: Do we hire a low level SDR, or do we bring in an outsourced Door Opener® Service? On the surface, they may seem like two paths to the same goal. But beneath the buzzwords lie very different strategies— and very different outcomes. Let’s pull back the curtain, sprinkle in some truth, and figure out when to hire which and how to avoid waking up six months from now wondering if you made the wrong choice. Meet the players: SDRs vs. Door Openers SDRs (Sales Development Representatives): Young, often early in their careers, enthusiastic and fueled by iced coffee. They send email sequences, log tasks, and occasionally celebrate a “Maybe next quarter!” response like it’s a signed PO or high five about a LinkedIn connect like it’s an actual meeting. Outsourced Door Openers®: Sales ninjas with decades of executivelevel experience. They don’t “reach out”—they get in. Veteran business developers hired externally, whose entire job is landing executive-level meetings with your ideal prospects. They bring seniority, tested messaging, and objection-handling mastery. They can hold their own in conversations with the C-Suite. What’s the real goal: activity or access? ■ Want volume, data, and pipelines full of “Reached out” notes? → SDR. ■ Want meetings with decision-makers who hold budget authority? → Door Opener. Simple choice, especially if your ideal prospect is an executive. When to choose an SDR An SDR is ideal when: ■ You have time to train and coach (and build emotional resilience). ■ Your deals are lower ticket and rely on high activity. ■ You already have strong marketing and sales messaging in place. The exact right leads in the quantity you need come to you inbound (hand raisers). ■ You enjoy discussions like: “Should our subject line say Quick Question or Quick Chat?” SDRs excel at activity generation. But navigating gatekeepers, using a relationship building approach and landing meetings with the C-Suite? That’s varsity-level work. When an outsourced Door Opener is the better move Bring in a Door Opener when you need: ■ Meetings with high-level decisionmakers who require sophisticated, meaningful outreach. ■ Complex or high-ticket sales where one conversation can change your company’s trajectory. ■ Immediate traction, not 90 days of hiring, onboarding, tech stack configuring, and inspirational SDR quotes. ■ Polished messaging you don’t have to write, rewrite, workshop, and pray over. ■ You’ve tried DIY outreach and your prospects responded with… silence. Door Openers aren’t practicing cold calling—they’ve mastered it. When the CFO says, “We’re not taking new meetings,” a SDR hangs up. A Door Opener says, “Totally understand—one question, how are you currently handling XYZ?” Boom. The door cracks open. The murky middle (where companies get stuck) Mistake #1: “Our SDRs will grow into Door Openers!” They might—after five years, three managers, and a motivational retreat. Mistake #2: “We’ll hire a seller who can do this for less.” It will take 3-6 months before this person, who may not work out, is onboard and contributing, leaving months of missed opportunities and no real solution to the pipeline panic. Cost comparisons (and hidden surprises) SDRs look cheaper… until you factor in: ■ Salaries, tools, benefits, coaching, turnover, ramp-up time and sunk management time. ■ Six months later: “We’ve booked five intro calls with managers who can’t buy.” Door Openers deliver results— meetings with qualified, senior prospects who WANT to meet with you. Actual doors opened. And, perhaps most importantly, they don’t need your supervision to get the job done. Signals you need a door opener Symptom Translation “We can’t reach decision-makers.” Your outreach lacks authority. “Assistants keep blocking us.” You need senior presence. “We sell large, strategic deals.” You need depth of dialogue, not scripts. “Leadership is asking: Any meetings yet?” Activity ≠ Access. Volume without quality isn’t enough. 14 enterprising Women
Buyer reality: executives can tell who’s calling An SDR: Sticks to a script (typically written by a marketing person who never sold anything). A Door Opener: Can have a peer-to-peer level conversation with an executive which achieves an outcome. Simple rule of thumb ■ Need activity? Hire SDRs. ■ Need access to executives and credibility? Hire Door Openers. FAQ: Your burning questions answered Q: Isn’t outsourcing Door Opening expensive? A: Compared to what—six months of payroll, tech stacks, and no meetings or meetings which don’t matter? Quality access is less expensive (with fewer headaches) than wasted time and opportunities. CARYN KOPP is the Chief Door Opener at Kopp Consulting, whose Door Opener® Service secures executive level prospect meetings for their clients. Theirs is a relationship building approach to outreach using senior level U.S.-based Door Openers who represent clients professionally. Her book, Biz Dev Done Right is an Amazon best seller. She also is the author of The Path to The Cash!® The Words You NEED to Bypass Those Darned Prospect Objections. She is a member of the Enterprising Women Advisory Board, a past recipient of the Enterprising Women of the Year Award and was named to the Enterprising Women Top 20 in 20 Years. Kopp Consulting is a 3x Inc 5000 winner and has been named Sales Outsourcing Provider of the Year. Reach her at www.koppconsultingusa.com. Q: Can Door Openers help refine our messaging? A: Yes. They don’t just deliver calls; they diagnose your outreach problems— target, message, objections—and fix them before dialing. Q: Will Door Openers work for inbound leads too? A: They can, but it’s overkill. Why send a Navy SEAL to retrieve a beach ball? Final word If you’re chasing logos that give your CEO bragging rights, you don’t want more “activity.” You want access. You need seasoned pros who know how to get past gatekeepers, handle objections before they surface, and turn silence into scheduled meetings. Cold calling isn’t dead. Bad calling is dead. And a warm, well-crafted, welltimed call? That still opens doors—and changes everything. When the right doors are opened FOR you, everything that follows in sales gets a whole lot easier. enterprising Women 15
BRANDING by Brittany N. Cole Speak up to scale up: How strategic positioning opens doors to capital, contracts and growth Every entrepreneur knows what it feels like to have a brilliant idea that deserves attention yet still feel unseen in the rooms where decisions are made. You’ve built the business, refined the product, put in the work, and somehow, the funding or contract still feels just out of reach. The truth is that opportunity doesn’t always flow to the most talented or deserving. It flows to the most visible, credible, and clear. That’s why, for women founders, communication isn’t just a soft skill. How you speak and position yourself in the marketplace is your capital communication. Access to capital is the headline topic of this issue, and rightly so. But as someone who coaches leaders and entrepreneurs to build authentic brands that thrive, I’ve seen that financial capital often follows communication capital. It’s your ability to articulate value, lead with clarity, and show up with authority that earns trust; and trust is the ultimate currency of growth. The pitch deck matters, but the positioning matters more. Before investors or corporate partners buy into your business, they buy into your belief, your presence, and your story. That’s why I teach leaders to think of their message as an asset that appreciates over time. The more intentional you are about how you position and communicate, the more access you create, not just to money, but to momentum. The following framework helps you turn your voice into value and your story into strategy: the C.A.P.I.T.A.L. Framework. C – Clarity Before anyone invests in your business, they have to understand it. Clarity is your first currency. Can you express what you do and why it matters in a single, compelling sentence? Can someone repeat it back to you after hearing it once? Every opportunity starts with clarity because it builds confidence, and confidence attracts investment. A – Authority People invest in leaders before they invest in ideas. Authority isn’t arrogance, it’s earned assurance. Whether you’ve built traction in your market, created impact for clients, or developed a distinct approach, lead with it. Facts tell, but credibility sells. Your authority communicates that you don’t just have a business, you have a blueprint for results. P – Presence Visibility is viability. Your presence online and offline signals readiness. When your brand voice is consistent, when your thought leadership is visible, when your story is intentional, you’re not just showing up, you’re standing out. Investors and clients back brands they see, trust, and believe can scale. I – Influence Influence is when others start telling your story for you. It’s built through relationships, partnerships, and press that amplify your credibility. You don’t need to be everywhere, you just need to be in the right rooms, with the right message, at the right time. Influence multiplies when your voice resonates beyond your presence. T – Trust Trust bridges intention and investment. You earn it through transparency, follow-through, and integrity. Every email, conversation, and contract is a deposit in your credibility account. Especially in uncertain times, consistency becomes your competitive advantage. A – Adaptability Adaptability is the difference between momentum and stagnation. Investors and clients alike look for leaders who can pivot with purpose, not panic. When you demonstrate flexibility and foresight, you communicate that your Charcoal3D / Shutterstock.com 16 enterprising Women
BRITTANY N. COLE is a sought-after keynote speaker and CEO of Career Thrivers, a leadership and workforce strategy firm trusted by Fortune 500 companies and federal agencies, including Amazon, Bridgestone, UPS, Sony Music Publishing, and HUD. Formerly a sales and marketing leader at Pfizer, where she managed a $20 million portfolio, Brittany brings buyer-side insight to help organizations and executives align leadership brand positioning, performance, and profit. Author of Thrive Through It and creator of a LinkedIn Learning course with more than 23,000 learners, Brittany is a LinkedIn Top Voice. Through Career Thrivers, her team has equipped over 130,000 leaders globally through leadership programs, consulting, and coaching to build bold leaders, resilient teams, and thriving cultures that drive growth. She is a member of the Enterprising Women Advisory Board. Connect and learn more at www.careerthrivers.com. Women in Transition Wealth management and legacy planning strategies for women who can benefit from professional guidance following a divorce, loss of a spouse, a change in employment, or retirement. Kathie Okun is a registered representative of Lincoln Financial Advisors Corp. Securities and investment advisory services offered through Lincoln Financial Advisors Corp., a broker/dealer (member SIPC) and registered investment advisor. Insurance offered through Lincoln affiliates and other fine companies. Okun Financial Group is not an affiliate of Lincoln Financial Advisors nor is it a registered investment advisor. Please do not send any trading or transaction instructions through this email. They cannot and will not be executed. Please call the Lincoln Financial Advisor trade desk at 800.237.3815. If you do not wish to receive future emails from me, please call me at 410-494-6130, or email me at kathie.okun@lfg.com. We will comply with your request within 30 days. Lincoln Financial Advisors Corp. and its representatives do not provide legal or tax advice. Please consult a legal or tax advisor regarding legal or tax information as it relates to your personal circumstances. CRN-2119379-051118 Call Your Enterprising Women partner, Kathie H. Okun at: 410-494-6130 Okun Financial Group, Inc. 1300 York Road, Suite 200 Lutherville, MD 21093 www.OkunFinancialGroup.com PRIVATE WEALTH MANAGEMENT FOR SELECT INDIVIDUALS business isn’t just built for now, it’s built for next. L – Leverage Leverage is where it all compounds. Every relationship, story, and success can open new doors if you’re willing to share it with intention. Move from transactional networking to transformational connection. When you lead with “Here’s how we can grow together,” you invite collaboration that multiplies opportunity. This is what true access looks like: the ability to use your communication as capital that earns compound interest through clarity, trust, and strategic visibility. Because funding isn’t the only form of capital that matters; your voice, your brand, and your story are assets too. And when those are aligned, you don’t have to chase opportunity. It starts finding you. For women founders, the goal isn’t just to scale your business, but to scale your presence. Your communication shapes how others perceive your capacity to grow, lead, and deliver. It’s what transforms a single pitch into a portfolio of possibilities. So if you’ve been wondering what separates those who seem to attract investors, partners, and press with ease, it’s not luck. It’s language. They’ve learned to speak the language of value with conviction, clarity, and consistency. The invitation is simple: refine how you tell your story. Build trust through every touchpoint. And remember, the more you show up in alignment with your value, the more the right doors will open. Because your communication isn’t just about getting attention, it’s about earning access. Ready to position your brand for your next level of growth? Download my free Leadership Branding Blueprint at brittanyncole.com/blueprint to learn how to communicate your value with clarity, confidence, and credibility. enterprising Women 17
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