What if the real issue in your business isn’t about money, but sales? In this episode of She Means Profit, I dive into the biggest misconception many of my clients have: they think they have a money problem, but the truth is, it’s a sales issue. After working with 90% of my clients, I’ve seen this pattern emerge time and time again. In this reintroduction episode, I’m excited to get back into helping women build profitable businesses.
I’ve been through my own challenges this past year, including battling severe anemia and depression during perimenopause. It hit me like a Mack truck, and for the first time in my life, I was forced to take a step back from my business to focus on my health. But now, I’m feeling stronger and more determined than ever to help you grow your business and build your wealth.
Only 1.9% of women-owned businesses make over a million dollars annually. That statistic has to change. Women face both systemic barriers, like access to capital, and internal struggles, such as a lack of confidence, which holds us back from pricing our services correctly or pitching our ideas with authority.
But I believe that when women succeed in business, the impact ripples through communities. This episode is all about building confidence, mastering sales, and creating a supportive community of women entrepreneurs. Let’s talk about how we can overcome these challenges and help each other thrive, both financially and personally.
Listen to learn:
- Many business owners think they have a money problem, but often it’s actually a sales issue.
- Perimenopause can deeply affect entrepreneurs, highlighting the need for support systems in business and health.
- Only 1.9% of women-owned businesses surpass $1 million in annual revenue, a statistic that must change.
- Systemic barriers like access to capital and internal barriers like the confidence gap significantly impact women entrepreneurs.
- Building a financially thriving business requires more than managing money; it requires mastering sales and overcoming limiting beliefs.
- Communities of like-minded women can provide invaluable support, resources, and emotional backing for business success.
- Confidence in pricing, pitching, and selling is crucial for breaking into higher revenue brackets.
Highlights:
- 01:01 Personal Health Struggles and Resilience
- 03:56 The Importance of Fall and New Beginnings
- 05:23 The Financial Landscape for Women-Owned Businesses
- 08:34 The Failure of the Entire Business & Commerce System
- 09:30 Confidence in your business is a must
- 10:59 Building a Supportive Community
Links:
- Cash Confident: An Entrepreneur’s Guide to Creating a Profitable Business
- Join our She Means Profit Facebook group
Courses:
- Cash Confident Mindset: Transform Your Mindset into a Money-Making Machine
- From Office to Entrepreneur: What You Need to Know to Build a Successful Business
- Path to Profit With Sales: Insights into Marketing and Sales
- Cash Confident Framework: Smart Money Management for Small Business Owners
- From Expert to Thought Leader: Amplify Your Influence, Elevate Your Brand, and Lead Your Industry
- Cash Catalyst: Mastering Personal Finances for Successful Business Owners
Work with me:
Follow me on:
IG: @melissahoustoncpa
LinkedIn: @melissahoustoncpa
Transcript:
Note: We use AI transcription so there may be some inaccuracies
Melissa Houston: Hey, business owner, welcome back and welcome to episode 163 and the reintroduction episode of She Means Profit. I believe business owners can build their wealth through their business, and She Means Profit is here to support you every step of the way. Now, it’s not easy. It’s not a get-rich-quick scheme and overnight success just won’t happen.
There will be tons of hard work behind every overnight success story, but I am here guiding you and we are here to do it together So one thing that I was noticing was She Means Profit was something was a little bit out of alignment as when I worked with about 90 percent of my clients, they were experiencing the same through line, which means they have this common thing that was happening through each business and it was really not enough sales.
They thought it was a money problem. They came to me thinking it was a money problem, but it was indeed a sales problem. And we’re going to get into that today. But before we do I just want to let you know that I’m really excited to be back with you as it has been a while here’s my full disclosure Perimenopause hit me like a Mack truck.
I swear, like I’ve never been so unwell. I hate to use the word sick you know, I didn’t have cancer or any life-threatening illness, but I was really unwell. I have never been that unwell in my life to be honest with you. I had been operating at limited capacity for over a year.
and I have to say to you, perimenopause is no joke. Like if you have a friend who’s struggling with perimenopause, or maybe you are yourself, just remember you’re not alone. And what I’ve noticed this summer is there’s been this explosion of resources available to help women through perimenopause.
And the reason I’m addressing it with you right now is because while I was going through it, It never occurred to me that what was going on with me was perimenopausal. there wasn’t really a lot of support when I first started experiencing this. this is how I found out.
So at the beginning in April of 2023, just before my book launch, it was like terrible timing. I had Serious anemia and the anemia couldn’t be controlled through iron transfusions. So what was happening was I had to get an iron transfusion. I get a little bit of energy for a couple of days and then I’d crash again.
And anemia is no joke. I would walk up the stairs and I would feel totally winded and exhausted just from one flight of stairs. And that was definitely not me, but. I knew something was going on, but I didn’t know what was going on. So anyway, it turned out to be anemia. it was very serious.
I was going to the hospital to get transfusions, but were controlling it through transfusions, but they couldn’t eliminate it until they stopped my bleeding. And it took a while for them to figure out what was going on at first. They thought it was cancer. I had to do biopsies, the whole bit.
It was a nightmare. But thankfully it’s not cancer. it was anemia. they got the bleeding under control and then I was expecting to feel better, but my energy levels were still so low. And it turned out that I had the worst episode of depression. Like I was in a deep, deep depression and it took me a few months to come out of that as well.
And I heard somebody talking. It was an interviewer talking to Jennifer Aniston. I remember watching it and she was talking about her depressive symptoms. And she said that she was so depressed. She didn’t have the energy to lift a remote and change the channel. And I was like, that is the most accurate description of depression I had ever heard in my life because that’s exactly how I was feeling at the time.
thankfully come July, I started feeling better. I was slowly recovering and now I’m back a hundred percent and excited to dive in again because I have really missed you guys. it’s been quite a journey, but through every journey, there are a lot of lessons to be learned. And I learned a lot of lessons about myself and just life in general.
If you’ve been listening to me for a while, you might remember that every September I talk about how much I love the fall because the fall to me, and especially September, it feels like a fresh start. summer is over, kids are back to school and everyone is getting back into the routine. The days are warm and the nights are cool, so it’s like easy for sleeping.
The leaves are changing and we get the best fall colors in September and October. It’s absolutely one of my favorite things about living in Canada. I just love the fall foliage. So as with new beginnings, we are creating a new beginning of our own with She Means Profit. And as you recall, we are a blog, a podcast, and a YouTube channel.
I will have an announcement in the coming weeks, but just some small changes that we’re making around here. And the changes are really just to better support. You and your business. So I’m really excited to be unveiling them soon. if you like what you’re hearing, please hit subscribe and be so kind as to leave us a review on Apple podcast and, or share this episode with friends, any entrepreneurial friends that you may have, and you think these, she mean profit episodes can help them.
Please do so because I’m on a mission to help as many women as I can build their businesses. And I can’t do that without your support. So please help us reach more listeners to help them make more money through their business. Okay. Now let’s get started. Here’s the big question. How do you get rich from nothing?
Think about that. I’m going to tell you. You build a financially thriving business. We are in a crisis. There are over 13 million women-owned businesses in the U. S. alone, and about 43 percent of them are making less than 10, 000 in sales per year. That is tragic. 12 percent of owners are bringing in over 100, 000 in annual revenue, and 6.
2 percent make over 250, 000. And just 1. 9 percent of that number make 1 million or more. And this must change. I mean, this is exactly why She Means Profit was built to help women business owners. At first, when I started my business, I was like, I am going to help with the financial management aspect of the business.
But it goes so much deeper than this. It goes through sales and managing your business like the rockstar that you are. And I want you to remember that nothing bad happens when women have more money. So let’s talk about why this matters. Okay, the current landscape of women-owned businesses is not just a statistic, but it’s a critical issue that demands our attention and our action.
When women succeed financially, it’s not just about personal wealth, although that’s fantastic, I’m never going to deny building your wealth, that is absolutely important, but it’s collective impact. Women by nature are more likely to invest in their families, their communities, and other women. to support their businesses.
And studies have shown that when women control more income, they allocate more of their money to health, education, and nutrition for their families. So this means that when women-owned businesses thrive, the benefits extend far beyond the individual business owner. They ripple out to improve the lives of those around them as well.
But yet again, here’s the problem. If nearly half of women-owned businesses are making less than 10, 000 in sales per year, that ripple effect is being stifled before it even has a chance to start. These businesses are struggling to survive, let alone thrive. And when women are kept from reaching their financial potential, we all lose.
So part of the reason this issue persists is due to systemic barriers that women entrepreneurs face. Access to capital is a significant hurdle. I mean, I’ve been talking about this for a while. And women are less likely to receive loans or VC funding compared to their male counterparts, which severely limits our ability to grow our businesses.
So This lack of funding that women-owned businesses are often under-resourced, making it harder to scale and increase revenue, and in an economy that is increasingly valuing innovation and entrepreneurship, we can’t afford to ignore half of the population. So when women are unable to secure the resources they need to succeed, we miss out on diverse ideas.
Products and services that could be contributing to the economic growth. The fact that only 1. 9 percent of women-owned businesses make 1 million per year is not just a failure of an individual business. It’s a failure of the system. That is supposed to support us, but it’s not just external barriers that hold us back.
There’s a lot of internal struggle and we do have a confidence gap that many of us face. So society has long conditioned us to doubt our abilities, to play it safe and to avoid taking risks. And this mindset has been detrimental to business success. I see it with my clients, and this is why I’m doing this episode.
Society has long conditioned women to doubt their abilities. We’ve been told to play it safe and we are underestimating our worth, which translates into underpricing products and services, hesitating to pitch our ideas to investors and hesitation to sell.
So confidence in your business and your abilities is not just a nice-to-have thing. It’s a must-have if you want to break into that top tier of successful businesses. And why wouldn’t you want to break through? Right? Think about why you started your business.
I know I started my business to make an impact but believe me, as I make an impact, I want to make money doing it. And it’s not because I’m selfish or greedy. It’s because first of all, I have a standard of living that I want to uphold. Secondly, I want to make a change in this world. And I understand that making change in this world is attached to dollar value.
And what I plan on doing with those extra dollars is to donate and start, organizations or funds or something that’s going to help other women and just really help pave the way for them.
And by supporting women entrepreneurs, whether it’s through better access to capital, mentorship, Breaking down the systemic barriers, we’re not just helping individual businesses. We’re fueling the entire economy. The success of women-owned business is not a zero-sum game. It’s a win-win for everybody.
So then the question you may be asking is why does this matter? It matters because the success of women-owned businesses is not just a personal victory. It’s a societal necessity. When women succeed, everyone benefits. We need to close the gap between potential and reality, between struggle and success,
but here’s the thing, no one, and I do mean no one. Achieve success entirely by themselves behind every successful woman is a network of women who have supported Guided and encouraged her along the way building a financially thriving business is a tough road to walk Business is a beast And there are going to be days when you doubt yourself when things don’t go according to plan and when obstacles seem insurmountable on those days, having a community of like-minded women who understand your journey can make all the difference.
When you surround yourself with others who are on a similar path, you gain access to a wealth of collective knowledge and experience. And this is what I’m hoping to create with She Means Profit. I really want to build community because as women, we are faced with so many unique challenges. As business owners.
So maybe someone in your network has faced the exact challenge you’re dealing with and can offer you a solution that you hadn’t thought of. Or perhaps they can connect you with a resource, like maybe a potential client or connection to an investor or a mentor to something or someone who can help take your business to the next level.
I mean, the point is, is that when you’re part of a community, you’re never truly alone. And if you want to join us in the Facebook group, it’s absolutely free. She Means Profit Facebook group. I’m going to leave the link in the show notes, please do so because my plan for the next year and beyond is to create a community where we can talk about these challenges that we’re facing as women, and we don’t have to build a network where it’s a fee-based network, I just want a community of like-minded supportive women.
where we can, grow together as business owners and Facebook, believe it or not, is the place. I mean, whether you like Facebook or not, I have noticed with so many businesses who, put together groups off the Facebook platform, it just doesn’t work. So that’s why I’ve chosen to stay with Facebook and join us in the Facebook group.
And please, I encourage you to leave comments and help support others. Because mentorship isn’t just about receiving guidance, it’s also about being open to learning and growth.
And when we collaborate, it’s so good for our community.
Gone are the days when businesses can thrive in isolation. Now it’s all about partnerships, joint ventures, and strategic alliances. And who knows, maybe you’ll meet your business bestie there. So when you collaborate with others, you’re pooling resources, ideas, and networks. And this can open doors to new opportunities that you might never have accessed on your own.
And let’s not forget the emotional support that comes with being part of a community. Entrepreneurship is lonely, especially if you’re facing challenges that your friends or family might not fully understand. But with a community of fellow entrepreneurs, you’ll find people who get it. They’ll celebrate your wins with you and help pick you up when you fall.
So don’t try to build it alone. We are building a community here. Whether you are connecting through Instagram, LinkedIn, Facebook, or TikTok. I actually am on TikTok. I’m enjoying TikTok actually. I’m not doing it as much as I should, but if you’re on TikTok make sure to follow me there. and just connect and support each other and reach out to other people.
And remember that you need to surround yourself with a community of like-minded women who will uplift you, support you, and cheer you on. And together we can build businesses that not only succeed but also inspire others to do the same.
