Women and Money Making: What’s Your Business Model?

“A enterprise mannequin is an overview of how an organization plans to become profitable.”

What do girls all over the world assume is a very powerful element to their private enterprise mannequin?

Final yr, I interviewed 53 achieved girls for my analysis paper “Smart Women: How Do They Make Money?” launched on 8 March 2022. In celebration of Worldwide Ladies’s Day 2022, I believed I’d share some examples of how girls in varied nations and cultures take into consideration enterprise fashions and the way this has contributed to their enterprise success.

Some girls take into consideration their private enterprise mannequin as a mindset for approaching work in a strategic manner:

Grow to be a Identified Model

“Once I take into consideration my private enterprise mannequin, I consider the significance of branding your self and ensuring to be clear about each what you are able to do and what you’re recognized for. I put all of my effort and time into doing the very best I can, and I focus arduous on understanding what I have to know and who I have to know in an effort to progress. I’m selective with my time and I say no to lots of issues.” — Jessica Chan, Investor Options Lead, JLL, Hong Kong, SAR

Have a Guiding Precept

“My private enterprise mannequin is constructed round a mindset. I take a look at myself as an income-earning asset! I’m within the prime interval of my profession and my guideline for years has been to extend my earnings by 10% to fifteen% yearly. Whether or not I’m in a efficiency appraisal for an present job or a brand new job, I look to barter that share improve in my wage.” — Joelle Pang, Common Supervisor, FastJobs Malaysia, Kuala Lumpur, Malaysia

Be the Go-To Particular person

“My private enterprise mannequin is constructed round my want to be ’greatest at school.’ I attempt to be a extremely credible supply of data and I maintain myself to an exacting ethical commonplace. In my position, I facilitate introductions between senior individuals, corresponding to chief funding officers and institutional fund managers. I’m the go-to particular person for purchasers, for traders, and for anybody in our ecosystem trying to benchmark their funding course of or meet potential companions, all of which requires a excessive degree of non-public and enterprise discretion. If any of those stakeholders are requested ‘Who do I discuss to?’ They’ll say, ‘I discuss to Marsha Larned.’” — Marsha Larned, Managing Director, Asia Pacific, Institutional Investor, Hong Kong, SAR

Others consider their private enterprise mannequin as a deliberate manner of working in an effort to obtain monetary success, corresponding to arising with frameworks and platforms, or collaborating with others:

Use Frameworks and Platforms

“My private enterprise mannequin is aligned with a consultancy enterprise in that I promote my time. As a coach specializing in enterprise psychology, I counsel entrepreneurs and founders on their journeys. From the beginning I noticed that in an effort to create worth I needed to assume in platforms and work with collaborators that might generate development. For instance, I work with Novo Nordisk Basis as a part of their accelerator program. They go in and make investments with a number of start-ups and I’m going in and coach the founders of seven to 10 start-ups. Transferring ahead I’d like to do extra analysis and provide you with frameworks and platforms that others may use.” — Cecilie Willer, Founder Coach, Today.io, Copenhagen, Denmark

Collaborate

“I all the time look to collaborate: My complete profession has been primarily based on recognizing and sustaining collaboration alternatives and ensuring there may be worth for either side. I put money into collaboration not simply within the undertaking itself. This requires arduous work, and for any undertaking I work on, I put collectively a stakeholder map. I checklist the entire related stakeholders in my ecosystem, then I determine potential win/win engagements, after which I attempt to construct relationships accordingly. Collaborating lets you ship extra effectively by counting on different individuals’s sources and experience.” — Dona Haj, Head of EMEA Ventures and Tech Ecosystem, MathWorks, London

For a lot of different girls, a private enterprise mannequin is extra of a holistic method to money-making that features her private philosophy round components corresponding to life-style, well being, and happiness:

Life-style

“In arising with my private philosophy round cash, I began with an finish in thoughts. I requested myself this query ‘What sort of life-style do I need to have?’ This concerned reflecting deeply on what forms of experiences I needed, what number of journeys per yr, what kind of home and automobile I’d like, and the way do I need to spend my time. As soon as I had put a quantity subsequent to every thing I needed to have, I labored backwards to get to my cash purpose and I fairly rapidly realized it wasn’t such an astronomical determine. I like biking and mountaineering and neither are notably costly sports activities! Having a transparent understanding of my cash purpose offers me the peace of thoughts to stay the life-style I need.” — Aleksandra Efimova, CEO, FLX® Stretch Coaching and Russian Pointe, Palm Seashore, Florida

Well being

“I don’t have a enterprise mannequin per se, a minimum of within the conventional sense of getting exterior purchasers, income, and worth propositions. I’ve a far less complicated life mannequin. After a lot analysis, I’ve found that there are three issues that make me (and most of us) comfortable: good well being, deep relationships, and significant work. I’ve ensured I’ve good bodily and psychological well being. I’ve developed a number of deep friendships. And I’ve realized that ‘significant’ for me means engaged on ‘arduous issues’ in my line of labor. I like engaged on issues that nobody else has succeeded at.” — Hansi Mehrotra, CFA, Founder and Monetary Wellness Coach, The Cash Hans, Mumbai

Happiness

“It’s essential to have a ‘happiness mannequin’ layered on prime of 1’s ‘enterprise mannequin’ and determine how one can maximize happiness in addition to profession targets. What motivates me is mental and emotional engagement versus the most important paycheck or payoff. I’d prefer to assume it is a good method to method life.” — Judy Blumstock, Founder and CEO, Diamond Therapeutics, Toronto

Private enterprise fashions are private! How we develop our mindsets, our methods, and our philosophies round work and cash making is exclusive. And as we evolve, our private enterprise fashions evolve with us.

For extra on this subject, learn the complete report “Smart Women: How Do They Make Money?” by Barbara Stewart, CFA.

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All posts are the opinion of the creator. As such, they shouldn’t be construed as funding recommendation, nor do the opinions expressed essentially replicate the views of CFA Institute or the creator’s employer.

Picture credit score: ©Getty Photographs / Hinterhaus Productions

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