Women in Business Don’t Take Enough Financial Risks
Posted on March 05, 2012 by Lynn Telford-Sahl, One of Thousands of Money and Finance Coaches on Noomii.
"Stretching is more than doing yoga, it’s taking risks," says Ellen in her new book Seriously, I'm Kidding. Are you taking enough risks in business?
Is it true that women in business don’t take the financial risks necessary to get ahead? We know that women only earn 78 cents on the dollar compared to men. And, though there are plenty of women middle managers, there are dismally few at the CEO level.
According to Lois P Frankel, author of Nice Girls Don’t Get Rich, these are symptoms that reflect the social training girls and young women receive about “doing good and being nice” over getting ahead. Making money and being the good girl, wife, or employee can be in direct opposition to a path of power and women will often pick the path of least resistance. Though understandable, this is not a great strategy for your bottom line, (and I don’t mean the bottom you sit on) especially as women move into the retirement years.
*What are the risks women should be taking? * To name a very few: 1) starting a new business or 2) investing in real estate or the market or 3) NOT giving their adult children money to bail them out of self-induced situations. This last one is a huge money mistake for women and pops up all the time with my Money Coaching clients.
Women in Business: Here are a few questions to think about: 1) Where do I sit on the risk continuum? Am I fairly conservative, prone to anxiety and so need to work for someone and get a steady paycheck? Or am I ready to leap tall “start my own company” buildings, and get sound business help to do so?
2) What risk am I willing to take in 2012? It could be as simple writing down all your purchases for thirty days. As Ellen says in her new book: Seriously, I’m Kidding, (paraphrasing) *“Stretching is more than doing yoga, it’s taking risks.”
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Lynn Telford-Sahl, M.A. Psychology, Certified Money Coach, helps women in business achieve their dreams by getting their money house in order. Lynn has been coaching, speaking & conducting workshops for 8 years and has a 20+ year background in counseling. Lynn is also the author of two books: Intentional JOY: How to Turn Stress, Fear & Addiction into Freedom & The Greatest Change of All. Both books are available online at www.coachingmodesto.com. As an experienced money coach for women in business, Lynn offers a FREE 15 Minute phone consult for any Money Challenge you are experiencing. (209) 492-8745 or lynntelfordsahl@gmail.com
