By Morgan Shotko
Before you dive into this blog post, let’s start with a mantra. But, I want this mantra to be repeated, one you specifically make for yourself, throughout the reading of this post. “I am an entrepreneur, a traveler, and the keeper of my financial future.” Currently, this is my mantra. Three things that I am fiercely passionate about and that I identify myself by daily.
What is your mantra? Why is financial freedom important for you specifically? Write that down before you keep reading!
Why Financial Independence for Women Is So Important
Growing up, I instilled myself to not only be an independent person but to be financially independent. Unfortunately, it’s from watching most of the women in my life be financially dependent on their husbands and significant others. I can confidently say at around the age of six, I knew my independence and that I never wanted to rely on anyone but myself for finances. I truly believe that is why I decided to work in banking and to focus on women, specifically female entrepreneurs.
Did you know that according to Inc Magazine, 48% of female entrepreneurs feel a lack of support and lack of advisors to help facilitate their business?
Being an entrepreneur is more than just starting a business, as Leah and Rivka have stated before, it’s about being your own brand. Taking care of yourself emotionally/physically, marketing yourself, and financial independence, all fall under your human entrepreneur brand.
Name your brand. Mine is Shotko Enterprises.
Essentially, put your last name in front of a fancy word that makes it known that your name is your business.
And once you name it, OWN it!
Taking the First Steps with Your Business Finances
Getting started on paper as a business owner is probably the hardest part. You begin figuring out a name, if you’re going to be anything from a sole proprietor to an LLC, file with the state, go to the bank/credit union, and so on and so forth. But what if you’re not confident in yourself and your finances to get things moving, then where do you go?
Grand Rapids/West Michigan has a ton of tools and resources for you and your business to be financially independent. If your credit is poor, there are banks and credit unions that offer secured loans and credit cards to boost your credit. If you need financing for your business, you can choose to go to your trusted representative at your financial institution, but there is also plenty of other resources for you to look at.
Find Your Circle
If you don’t have that trusted circle of people in your daily life to help support you in your growth as a person and a business owner, now is the time to step out and find them. Just like you look to your family and friends with trust, you should look to your financial institution for the same kind of trust.
As a female entrepreneur, you deserve to feel as comfortable as a man does when looking for help financially. If someone in your immediate circle isn’t helping you achieve your goals and your dreams, look to your personal resources to achieve them. As a woman, there is nothing more empowering to know that you can take care of yourself, your family, and your business and know that YOU, did it all.
I encourage you to make sure that you yourself, are not be taken advantage of financially and that your business isn’t as well. Reflect on the people you are surrounding yourself with.
I also challenge you to look at where ever your personal and business accounts are. See if that is truly being serviced the right way for you. Make sure that the person sitting on the other side of the desk at that financial institution is looking out for Shotko Enterprises and her business.
“I am an entrepreneur, I am a traveler, and the keeper of my financial future.”
Diane Von Furstenberg
References: 1 https://www.inc.com/lisa-calhoun/30-surprising-facts-about-female-founders.html?cid=search
Women IN Connection!