Wbsc how to form a wbsc revised 10 19 2011
- 1. Women’s Business Success Center of Memphis A Strategic Alliance of for-profit businesses and non-profit organizations offering business education and mentoring to women and girls.
- 2. Why... • Wages are lower for women. • Financial performance of women in business is lagging behind male-owned firms. • Employment in woman-owned firms is lower. • There are few woman-owned Fortune 500 companies. • Difficulty of access to capital makes partnerships critical
- 3. How … • Connect with networks to access human, social, and financial capital. • Share the wealth and benefits of collaboration. • Work toward establishing a financial eco-system. • Mentor women and girls in business leadership roles. • Build strength in our numbers as women leaders.
- 4. Who Can Partner… Function Venue Provide central meeting place location which is safe, secure, (Ex. Girl Scouts) clean, professional, inclusive; track data through reservation of space Non-Profit Women’s Organization Increase access using business owner network of small, medium, (Ex. NAWBO) and large businesses, corporate and government entities; increase access to women in leadership and leadership training Non-Profit WBE Organization Increase awareness and need for third party certification (Ex. WBEC South) providing connections between women-owned businesses, corporations, and government entities For Profit Increase access to business assistance and training for growth- (Ex. CRG Sustainable Solutions) driven, large businesses; improve connection to contracts; promote/market to women and in the community For Profit Increase access to business assistance and training for start-ups, (Ex. MAP Momentum) small, medium, and large businesses; improve connection to community and business leaders; promote/market to women and in the community Women & Girls Organization Increase awareness, strengthen women volunteer base, mentor (Ex. Girl Scouts) girls and young women to build leadership skills and fill leadership roles in the business community
- 5. Operations... • Operations Manual and Journal kept at the venue’s reception desk. • Collaborative organizations’ Executive Committee convenes monthly. • WBSC general information and calendar of business training workshops / events posted online. • Marketing primarily online and through community networking. • Financial statements and management reports reviewed monthly. • Curriculum of business educational workshops and webinars updated as needed. • Client registration stats and data accumulated for ongoing reporting.
- 6. What Program(s)… • Business Educational Webinars/Workshops • Events • Networking • Mentoring Pricing based on event or workshop basis. Funds are collected by hosting organization.
- 7. Expected Outcomes... 1. Increase woman-owned business sales and profits. 2. Connect women to jobs and volunteer roles. 3. Build youth leadership and sales skills in girls. 4. Improve financial performance of woman-owned companies. 5. Compile and analyze gender diversity data.
- 8. Statistics... Male - 2006 Female - 2006 Female – 2020 Goals 50K+ Assets 50.4% 37.0% 55% 100K+ Revenue 32.8% 19.8% 35% 10K+ Profits 21.1% 12.6% 25% Employer Firm 44.0% 36.2% 50% Survived 81.4% 76.9% 85% Average Employment 3.1 1.8 Double Employees Average Revenue $118,987 $60,264 Double Revenue Average Profits $30,373 $14,549 Double Profits Average Assets $104,313 $57,338 Double Assets
- 9. Benchmarks... • Data tracked at venue; reviewed by Collaborative Organizations. • Tracking includes number of clients, participants, room rentals, workshops and description of workshop or webinar. • PowerPoint with research statistics to be produced annually. • Survey requested from each workshop participant.
- 10. Calendar... • WBEC South Business Educational Workshops and Webinars, monthly. • NAWBO Mentoring, customized. Includes initial assessment, goal-setting, and ongoing feedback. • MAP Momentum Accessing Capital, quarterly. Includes group presentations and individual evaluations to assist in improving access to capital.
- 11. Topics... • Contracting with Large Corporations • Contracting with the Government • Successful Marketing to Improve Sales • Successful RFPs • Producing Professional Presentations • Understanding Business Financial Statements • Interpreting Financial and Industry Data • Benefits of WBE Certification
- 12. Taking Ownership... • Fundamental change and growth must be deliberate. • A country can only have peace and prosperity when its people truly own the economy. • It is more powerful to be a catalyst than a doctor. • Taking a stand now for women in the workplace creates opportunities for young women and girls in the future. • Women can create jobs, grow businesses, and jumpstart the economy.
- 13. Why Women... • Women represent – 51% of the nation’s Ph.D.s, – 52% of business school applicants, and – 70% of last year’s valedictorians. • #1 reason why women are not making their way – lack of assertiveness. Advice – own what you’ve done and be confident in making the ask. • #2 reason – women use their networks differently than men. Advice – break down network barriers to ensure men and women are working together.
- 14. 2020 Goals for Women in Business… Employment Double Employees Revenue Double Revenue Profits Double Profits Assets Double Assets
- 15. Contact Information: NitaBlack@MAPMomentum.com MSinger@CRGSS.com Blanca@WBECSouth.org Angela.Woods@GirlScoutsHS.org President@NAWBOMemphis.org