First, the good news. In 2019, Become reported approximately 13 million women-owned businesses in the U.S, which equates to around 42% of all companies.
Even better — women-owned businesses are growing at a rate of nearly 5%.
But that’s where the good news ends.
According to NAWBO, only one in five firms with revenues of over one million dollars is women-owned. Worse, only 4.2% of all women-owned firms have hit that magical 7-figure mark in revenues.
Why is that the case? Well, one big reason is how women-owned businesses struggle to secure the funding they need to grow. Women-owned start-ups only receive 13% of venture capital. Women are also more likely than men to be denied funding (70% of women who seek funding are denied), and if they can secure a loan, it’s 31% less than it is for men.
For someone like myself, a serial entrepreneur and creator of multiple multi-million-dollar businesses, that was simply unacceptable. Something needed to change.
I decided I was going to step up and be a part of that change.
It’s time for women to have a seat at the table. For too long, women haven’t been able to compete on the same level as men in business, and changing that is long overdue.
I’ve spent most of my life defying the odds. My entrepreneurial journey began in my mid-twenties, where I repeatedly founded and grew multimillion-dollar businesses over and over, despite not having a rich uncle or any other family money to fall back. I also needed to bust through a mindset block that stemmed from a difficult childhood.
I’m now the cofounder and CEO of Hatchbeauty Brands, a beauty and wellness company based in Los Angeles that has generated $500,000,000 in the past seven years.
So how did I do it? By finding a powerhouse idea, then doing what needed to be done to transform it into an actual powerhouse business.
What I did wasn’t unique. Any woman who has a powerhouse idea can follow in my footsteps. And that’s what I want to teach.
I quickly discovered that building a successful business was actually the easiest part. New issues cropped up as I struggled to balance motherhood and marriage with entrepreneurial success.
It took some time, but I eventually learned how to balance a life and a business successfully. It’s possible to be extremely successful and not work all hours of the day and night. I feel like too many women stop themselves because they think the cost will be too high. It doesn’t have to be, and I want to show women that they can truly have it all.
In 2020, I launched a new business called Potential to Powerhouse to teach women to do exactly that – take their powerhouse ideas and transform them into real-life powerhouse businesses without costing them their relationships, family, or soul. I do this by providing mindset coaching and training for women entrepreneurs and want-to-be entrepreneurs.
But that still wasn’t enough. My mission was to give every woman access to these core fundamental teachings, regardless of their financial or family situation. So, I decided to launch a podcast.
The From Potential to Powerhouse podcast brings together experienced entrepreneurial women to share their success secrets, and proven business tactics — mined from tough lessons and blockbuster wins — with up-and-coming powerhouse women to empower their paths to success and to make the journey more collaborative and connected.
It features candid and productive conversations with other top-level women entrepreneurs and executives, and it’s designed to support women entrepreneurs in building their dreams.
When I first started as an entrepreneur, this podcast was exactly the resource I wished I had. I have been so inspired by listening to women’s powerhouses tell their stories and share their wisdom. There is so much to learn from each of them; it will save listeners lightyears on their path to building their businesses. I believe women should be millionaires if they want to be. You are exquisite and deserve an exquisite journey. You can live your ultimate life and build your ultimate business just by shifting how you see your circumstances. Let’s share in building with one another, especially when faced with adverse situations and obstacles.
The star-studded list of guests includes Christie Hefner, Sallie Krawcheck, Elizabeth Funk, Katherine Power, Kay Koplovitz, Richelle Parham, Katie Kitchens, and many others. Each of these self-made powerhouses shares their intimate, inspired conversations, their bumps and bruises and wins, and how they used their mindset to fuel their transformations.
Listeners will come away with practical tools and steps to build their dreams as quickly and as efficiently as possible. In addition to the podcast, Potential to Powerhouse will also offer a private Facebook community and “Powerhouse Programs” to give women the opportunity to network, access exclusive Q&A sessions, thought leader panels, masterclasses, and more.