In June, the WBENC network will come together at the Mandalay Bay Resort in Las Vegas, Nevada for the National Conference & Business Fair, the largest conference of its kind for women business owners in the U.S. We will be looking back at memorable milestones and leaders from the past 20 years as well as looking to a future full of endless possibilities for us to advance the vision and mission of WBENC.
One of our National Conference & Business Fair WBE Co-Chair, Randy Wilson, Chief Executive Officer, NEI Global Relocation (NEI) shared how she has observed WBENC and the marketplace grow over the years in the April/May issue of the WBENC President’s Report. Below, she shares what we can do together to continue to lead the development of women business leaders across the nation.
Women business leaders still face challenges gaining access to capital and growing their business. How can successful WBEs like NEI Global Relocation work to continue to erode those barriers in coming years?
The challenges are still there, but with the growth of every successful WBE like NEI, the chances for gaining access to capital for other WBE’s increases and that is the good news.
When proven financial strength is a key factor in gaining clients for a new enterprise, (as was the case with NEI,) partnering with a company that offers complementary services/products and also brings financial strength to the new venture, proved to be a winner.
Investing in Women Owned businesses pays off. In an Entrepreneur Magazine article, an investor analyzed its own performance over 10 years, and reported that companies with “female founders performed 63% better than its investments in all male teams.”
What are investors looking for? Among many other things, a trusted leader who demonstrates the ability to carry out her vision; a team that has proven itself to be effective and will be able to execute the new business plan; demonstration that there is a market today and in the future for the product or service; and the ability to show potential for growth with statistics proving what you have already accomplished.
What is the most important aspect of business a WBE can focus on for the future?
Choosing one aspect feels impossible. But, certainly at the top of our list was to develop a clear mission statement that would drive our business, internally and externally. As a service company, our mission statement has always been:
Service Exceeding Expectations…it is as relevant today as it was decades ago!
NEI found that our simple, yet effective, mission statement helped us to:
- easily communicate our company’s direction,
- help employees understand their primary responsibility, to external and internal customers,
- create an environment that employees want to be a part of, and
- deliver a very high-level of service to our clients.
Taking care of the customer is always paramount; however, finding the right employees and taking care of them is equally important!
Learn more about NCBF Co-Chairs and all our sponsors at conf.wbenc.org.