Fox News
Expand
Browse All Video
Watch Live

You're watching...

How to take a $50K business to the next level

Details

  • Description

    Tips for female entrepreneurs to get on a path to growth

  • Duration 3:15
  • Date

Clips

Also in this playlist...

Hot Topic: Small Biz Now

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

-- -- at a point -- saying this is fox extract the small business and aren't looking to take it to the next level.

Well it's you're a woman will pay attention.

We're talking in now Merlino founder of -- -- and for women's economic independence and nonprofit resource.

For women who want to take -- micro business into a million dollar business so she -- that's our how -- who owned businesses with.

50000 -- 150000 dollars in revenue.

Can get on a path to grow up.

Thanks to being with us so basically is that number one.

Step number one is you gotta wanna grow your business -- too often we just sort of let it happen as opposed to making a decision.

That you wanna grow and then setting goals and targets it's really important that happened let the world is you make your -- -- you can't wait.

Nobody's gonna invite you to make money you have to decide that you wanna make money and then and then start a plan and look for resources to help you do that -- think it's important for women in particular to really try -- get ahead in business and and make these -- -- 70%.

Of women owned businesses in the United States were 50000 dollars or less an annual gross revenue.

And it's really hard to support a family if you are -- single mom or if your -- lost his job.

If you're bringing in 50000 gross revenue -- that's not what you're making its -- here you know so.

So we need to grow our business is as women to help support our families.

But also we have a big dream to really -- those big dream so it's a combination of need and and and what do you want to do what -- impact you wanna have.

Well and it's not just that you don't mean it you gotta think about it the lifestyle that many women want to live here.

-- is not something that can be sustained by just one and come that's right and it can't be sustained by a 50000 dollar in -- either so.

So really owning the fact that you want that lifestyle and understand that you can pay for.

You can pay for it.

You know you when your husband to pay forty you don't have a husband got a partner whatever you got I don't have anybody.

You can pay for it if you really plan your business in -- way and understand that that's we give businesses -- your businesses to help you.

Do whatever you wanted to.

At what kind of -- sources are out there that are available for women in particular.

Well there's certainly -- a resources count me in but they're -- at the SBA.

I think financial planning is a big issue an understanding your financial so that you know if you're making a product -- selling a service.

Whether you're making money doing it a lot of people start out and they're not sure whether making money I would say if you don't know whether you're making money stopping -- -- stand.

Whether -- understood -- next time you know doing some it's gonna you know reap the rewards that you want.

So understand that you're making money and there are plenty of resources out there through school or through.

The SBA to count me in there a number of women's groups that I think -- you know you go online and put you know women in business you'll find.

-- is that will help you figure your financials figure out how to plan -- wonderful book on how to write a one page business plan by a woman named camera modest thought that I would strongly recommend.

People shy away from business plan because it can be 130 page staying -- it's too long.

A one page plan is something you can change every month if you need to.

As you're growing and understanding how your business -- -- I would say those are good resources so much I love the energy thinking -- Tokyo.

Well that's it for fox extract an appointment.

Load More