"When you do the math and understand your figures," advised
financial expert Jacoline Loewen, "then you will do well in
business." Loewen, a partner with Loewen & Partners
and author of Money Magnet, was talking to over 120 women business
owners who were gathered together to celebrate International Women's Day.
She highlighted several successful women entrepreneurs who had not only
done well in their business ventures, but sold them for millions and encouraged
the women in the audience to think big, to believe in themselves and pursue
growth. (You can see Jacoline Loewen's presentation at the Exempt Market Dealers Association website here. Scroll down.)
And the panel of women entrepreneurs who followed had done just
that. There was a common theme in their stories - each had just leapt in
and followed her passion, not always knowing what they didn't know, but
confident that they would obtain the knowledge they needed to succeed.
Neither Chioma of AMOI magazine nor Marissa McTasney of Moxie Trades
were shy about pursuing someone who could help them, and when they had
successfully tracked down the right person, and won them over, it was as if the
doors opened and nothing could hold them back.
Marilyn Sinclair of WordCheck and iContent, on the other hand, was a
serial entrepreneur, with over four businesses to her name, including one she
had recently sold. When she reflected back on her finances, she admits
that she had difficulty getting a line of credit in the early days, and that
one bank had required her to have her father's signature. As she said,
had she been married at the time, likely it would have been her husband's consent
that was needed.
Times have changed, but we still have a long way to go. The first
step, recommends Loewen, is to do your homework and determine the type of
investor who would most suit your financial needs. Next is to know your
figures; to present yourself in a competent, warm but professional manner, and
be able to articulate your unique value proposition. She also suggested
that women focus on growth, not on the actual product, as that could change.
The Honourable Brad Duguid, Minister of Economic Development and
Innovation (MEDI) gave the opening remarks at Become a Money Magnet
which was organized by Company of Women, EMDA, Enterprise Toronto, Microskills
and WEConnect Canada, and hosted by Ernst & Young. "We wanted to
focus on women and money, because while more and more women are entering the
world of entrepreneurship, their rate of growth is lower when compared to their
male counterparts." shared Mary Anderson of WEConnect Canada.
"And a lack of financial literacy, confidence and knowledge of what is
available are all part of the problem."
This International Women's Day event was one of 25 held across the
province that was funded by MEDI.
The Exempt Market Dealers Association was a proud organizer of International Women's Day. This is part of the strategy to reach female business owners and link them to financial expertise and sources of private equity.
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