How often are you feeling stagnant in a sea of concern that your message is not being conveyed to those who have the final say? How many times have your ideas fallen on deaf ears? What is separating you from the celebration other successful leaders and business people are finding in their achievements?
We see (and share!) many articles of women being paid less than their male counterparts and getting the shorter end of the deal lately. Some are finding challenges in getting what they need to succeed in their corporate positions. They understand what’s needed, but getting it from their superiors is as challenging as moving a building by hand.
We’re seeing other women advocating that we all need to lean in and take what’s rightfully ours. I believe all points are valid, however, I think there’s one missing link in all I’ve read and seen so far.
First of all, not all women are challenged. Kevin O’Leary from Shark Tank (“Mr. Wonderful”) is betting on women to run his investments this year. He stated that previous investments run by women had the highest internal rate of return. Women are in fact succeeding, so the question is again, what separates those who forge ahead?
For women in leadership and business, I think there is a strong, yet subtle, reliance on someone else to understand the financials and/or statistical data with regards to the business. We’ve heard there’s enormous strength in numbers, which is true, but not the way the quote implies. There’s strength in numbers, yes. KNOWING, understanding and being able to powerfully articulate what they mean is where the difficulties lie for any woman trying to earn her worth.
Mr. Wonderful even noted that those who come to the Shark Tank and know the numbers inside-out get what they want. Think about it. In negotiating, the strongest leverage one can have is knowing the true value of whatever you’re going after and starting from there.
In corporate America, the same rings true. If you’re going to lead, the most valuable player understands the bottom line and how their leadership impacts it. If one is looking for capital, the most valuable player understands the power of financials, and projections. First, it shows you understand your business model, the market and your competition. Second, it rolls out the red carpet for an investor to see a return.
The bloodline of any business is sales, which ultimately leads to profitability; if a viable plan is developed and executed properly.
There are varying sets of numbers, depending upon your role in business. If you’re in corporate America, seek to find how your role impacts profitability and dare to be well versed in the numbers specific to your role. If you’re in business for yourself, you’ll find things like profit and loss statements, balance sheets, cash flow projections, etc. available on the internet.
However if you’re really want to stand out from the rest, become well-versed in lifetime value of the client, break-even analysis, market share growth, acquisition cost, etc.
These, along with your skills, expertise and experience, set you apart from any and everyone else.
Go get ’em ladies and don’t let nobody tell ya, you can’t!
Lisa Thomas is the CEO of The P3 Group, Inc. and The P3 Group International, LLC, publisher of The P3 Power Boost Online Magazine, host of The P3 Power Boost Radio Show, and President of the Board of Directors of NetWorth. She is a 20-year veteran in business, executive leadership and performance coaching/consulting. She has worked extensive with corporate call centers, executives and small business enterprises. She’s been a featured columnist and business strategist on Affiliate NPR, WFDD, The Cary News, Fox 8 and numerous NBC affiliate stations.
Lisa is best known for her business and leadership acumen and is widely recognized her ability to develop leaders to be more effective. Lisa is also a sought after keynote speaker on various topics women in leadership face. She generously donates her time and expertise to a number of organizations and worthy causes, including NetWorth, the Business Succession Forum Network, and the Hazel B. Neal Foundation, for which she recently was recognized with the woman of Power, Purpose and Vision award. In her downtime, she can be found practicing yoga, cycling, swimming, reading a good book or spending time with family and friends.
CEO/Sr. Business Strategist
The P3 Group, Inc.
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