Tales of 2 persistent women entrepreneurs | Founder: Road to success paved with humility, empathy | Selling a business in a pandemic hinges on profit
September 23, 2020
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Top Story
Tales of 2 persistent women entrepreneurs
(Miguel Bruna/Unsplash)
Audra Gold, founder of the Vurbl audio streaming platform, has been repeatedly "marginalized and pushed aside in favor of male resources that have much less experience and knowledge" -- but says her purposeful lack of a Plan B keeps her on track. Community Amenity Management founder Leslie Fajfar has faced adversity as both a woman and minority and says women must "lick your wounds and keep going" when lesser companies get contracts over you.
Full Story: Thrive Global (9/21) 
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Business Trends
The current crises in the US mean that entrepreneurs need to show their teams empathy, humility and vulnerability to maintain productivity and inspire a sense of purpose, writes Mogul founder and CEO Tiffany Pham. "Leaders who take a tablespoon of humility in service of bonding with the people around them are the ones that continuously come out ahead," Pham writes.
Full Story: Entrepreneur (9/22) 
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One of Kelly Kearney's top concerns in selling her company was the security of Pacific Fine Foods' staff, so she sold it to her employees. Small-business owners looking to sell amid the coronavirus crisis should prepare information about profitability for potential buyers and scrutinize costs to build a buffer, Kearney recommends.
Full Story: Forbes (9/21) 
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A panel of entrepreneurs shares the mistakes they made when first starting their businesses. Lucy Shahjahan, CEO of Soul to Soul Global, recommends focusing on a specific niche, while Rosanna Berardi, CEO of High Wire Woman, says hiring for hard skills is a mistake, adding, "You can't teach soft skills like integrity, a pleasant demeanor and being a team player."
Full Story: Forbes (9/20) 
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Small Business Spotlight
Store morphs into destination for quilting retreats
(Pixabay)
Stitchin' Heaven quilt supply struggled to sell high-end fabric in the 1,895-person town of Quitman, Texas, until owner Debby Luttrell turned the store into a destination for quilting retreats. Luttrell created Camp Quilt S'more, where friends and family could spend weekends stitching and learning, and implemented promotions such as a Block of the Month subscription service.
Full Story: Inc. (9/22) 
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Social Media Buzz
Before increasing ad spend, Jennifer Spencer, CEO of Energent Media, explains other ways small-business owners can find potential prospects. Consider using Facebook to build relationships and letting conversations unfold naturally, writing content for LinkedIn, and consistently posting on the company blog.
Full Story: Entrepreneur (9/21) 
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NAWBO (R) News
NAWBO's Virtual Women's Business Conference "Brave Is ... " -- It's not too late!
All the content is available until Oct 31 ... keynote by Glennon Doyle, author of the #1 New York Times bestseller UNTAMED, panels, breakouts, exhibitors and more open in the virtual platform. What does YOUR brave look like? It's different for everyone, but as women business owners we have left comfortable jobs to start our own ventures and done business the world over.

At the National Women's Business Conference presented by Bank of America be confident that you will gain tools that can be immediately applied to make brave business decisions and goals. View the full agenda and register here.
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Technology
PwC's HR Technology Survey 2020 observed the views of 600 HR and HR tech leaders to see what trends and tech advancements -- such as driving business outcomes with transforming tech, increased data security, e-learning and employee engagement improvement -- will be important down the line. According to the survey, at least half of traditional HR functions such on-boarding, analytics, payroll and recruitment can be replaced by robotic process automation.
Full Story: Entrepreneur (9/21) 
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Best Practices
Emotions are a natural part of your life, so try to rely on empathy and respect in decision-making rather than anger, fear or panic, writes Kate Nasser. "As you develop your skill of balancing emotion and critical thinking, you will be the model for your employees to do the same," she writes.
Full Story: Kate Nasser (9/20) 
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How a money-making mindset drives profit
(Alexander Nemenov / AFP / Getty Images)
Businesses are more profitable when owners adopt a money-making mindset, accountant Melissa Houston writes. Consider yourself a financial leader, set financial goals, be a forward thinker, and look at the big picture, she recommends.
Full Story: Forbes (9/17) 
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Policy Update
The Federal Reserve is "committed to using our tools to do what we can, for as long as it takes, to ensure that the recovery will be as strong as possible," chair Jerome Powell said Monday. Powell, who will give evidence today to the House Financial Services Committee, also reiterated his views that the US economy is recovering but considerable challenges remain.
Full Story: Reuters (9/21),  Bloomberg (tiered subscription model) (9/21),  The Wall Street Journal (tiered subscription model) (9/21) 
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Lifestyle
4 ways hard times can make you stronger
Socrates (Hulton Archive/Getty Images)
Hard times can help people rethink their worldviews and how they should live their lives, writes LaRae Quy, who recommends taking a page from philosophers such as Socrates and Epictetus. Even as you name and write down your obstacles, remember that people need "five positive bits of information to overcome the impact of one negative bit."
Full Story: SmartBrief/Leadership (9/16) 
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The least I can do is speak out for those who cannot speak for themselves.
Jane Goodall,
primatologist, anthropologist, conservationist
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About NAWBO®
Founded in 1975, NAWBO® propels women entrepreneurs into economic, social and political spheres of power worldwide. Thirty years later, NAWBO® is still the only organization that solely represents the interest of women entrepreneurs in all industries. NAWBO® and Women Mean Business™ are registered trademarks of the National Association of Women Business Owners. For more information, please visit www.nawbo.org.
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