LL 3 Skills Women Need Right Now

3 Skills Women Need Right Now 

In a recent Facebook post, I ranted a bit against the 6 and 7-figure marketing messages women are inundated with daily.  The stats, according to The Women Business Enterprise National Council, show that 88% of women-owned businesses make below $100,000 in revenue yearly, and only 1.7% of female entrepreneurs exceed a revenue base of 1M annually.  

That means that only 12% of women are running businesses that generate 6 to 7 figures in business.  

The question we should be asking is why?

Do women not want to earn more? I highly doubt that this is true. I have my own hypothesis based on several decades of leading, advising and coaching women and it comes down to 3 skills every woman needs to have.

What are they? 

It’s not marketing, and it’s definitely not better than Instagram reels or TikTok videos. It goes way beyond that.  Marketing is absolutely important, but before you focus on marketing, you need to have a deep understanding of these three core competencies that any woman can learn.

Want to know what they are?

Finance, sales, and leadership.  

These are foundational skills that are required in any business in order to be successful.

You need to understand the financial side of business first and foremost.  If you don’t know your numbers and you don’t understand how to price for profit, it doesn’t matter how great of a salesperson you are.  There is no point in running a 6 or 7-figure business if you’re not able to keep any of the money you make.  This is my primary beef with marketers talking about top-line revenue; there is so much more to it.  You have to know your numbers, know how to read your income statement, profit and loss, and balance sheet, and you need to be able to manage cash flow.  These are basic tenets of running a business. 

You need to learn how to sell.  Selling isn’t about you doing something to someone else for your own financial gain; it’s about being of service and helping someone else solve a problem they have.  When you learn the skills associated with being a great salesperson, you can apply them to any product, service, or industry.

Lastly, you need to learn leadership skills because, without those, you will be a poor and ineffective leader, communicator, and business operator.  Leadership skills allow you to lead your customers, your team, and even yourself.  Leadership skills enable you to have difficult conversations, set standards, and have high expectations you hold people accountable for.  Leadership skills help you help other people be the best they can be in whatever role they are in.  

In 1974, the equal credit opportunity act allowed women to access credit without their husbands, fathers or brothers co-signing for them. 

This means women have really only had access to their own money for the last 50 years. Think about that. Women have not been raised, conditioned, and or taught to manage money and finances the same way as men. The time to learn is now. The time to change the stats, if that is something you want for yourself, is now.

Skills mean you can learn, and while learning isn’t always easy, it can be done.  Don’t give up on you; learn the foundational skills that will help you change your financial situation and keep it that way too. 

Want to hear more? Tune into my podcast She Talks Business so that you can learn how to master, market, and monetize your business.

Share:

Leave a Comment

Your email address will not be published. Required fields are marked *

Lisa Larter Bio Image of Lisa x400

Lisa Larter

Founder and CEO of the Lisa Larter Group, master strategist, author, speaker, podcast host, social media expert, consultant, and business coach. Lisa inspires entrepreneurs and business owners to see the possibilities for their organizations when it comes to strategy. She uncomplicates modern marketing and creates (and implements) strategies for businesses that are guaranteed to increase visibility, inbound leads, and revenue.

Related Posts