A side benefit of creating Financial Woman has been the opportunity to learn from other women who have built businesses from scratch. Becoming involved with experienced female business owners has led me to regularly leave my comfort zone, which is something I highly recommend as a step to creating a rich and purposeful life. Tina Cannon is the EIR (Entrepreneur-in-Residence) in the Texas State Applied Entrepreneur Business Program in which I am participating for the second year; this has presented an excellent opportunity to expand my knowledge about small business finance, funding and expansion.
- Network! It’s easier than ever to spend all of our time behind a computer, but this powerful paradigm is not going to disappear any time soon. Networking has a positive impact on our lives in every area. It also leads to life balance through new friendships and relationships in general.
- Be Strategic. When Tina sold one of her start-ups to a large national retailer, she asked herself how she could keep a piece of the pie to generate future revenue. She then retained ownership in a small part of the company that continues to deliver income, while requiring little management time.
- Select Strategic Partners. When starting a new endeavor, know what your skills are, and what skills you need to complete the mix necessary for success. Select a partner based on those skill requirements. With her strong financial background, Tina knew that an attorney would bring additional valuable skills she needed to the venture, so she partnered with a lawyer.
- Go for it! Tina decided that she could make a difference in Austin given her extensive business experience, so she decided to run for Austin City Council in the May election. Now that is really stepping into your greatness while making a valuable contribution to society! (Austin residents, mark your calendar to vote for Tina Cannon on May 12 if you want honest, business-oriented representation at the state, local and federal levels!)
Who is waiting to share what they have learned from their experiences with you? Don’t go it alone; always learn from others who have “been there, done that.” Save yourself a lot of time and energy on the journey, and increase your chances for success.