What Top 1% Of Female Business Owners DoDec 14, 2022
Have you ever wondered what helps women get to the top in their field — which, let’s be honest, is likely a field so dominated by men? We all know how much I love talking about business, and it’s always fascinated me how other women have become successful.
But to exist in the top 1% of female business owners is something extremely special! Why? Let’s talk stats first. In 1972, women-owned businesses only accounted for 4.5% of ALL businesses. Now, in 2022, 42% of all businesses are owned by women. This is a HUGE jump. So… what changed?
Here’s the thing: no one will believe in you the way you do. If you don’t bet on yourself… no one else will.
You’re always going to be the secret sauce in your business. Take Pilates for example. Plenty of other people and women could start businesses around it. But would their business be anything like mine?
No! Because they’re simply not me.
What I’m saying here is that you shouldn’t try and be like anyone else. Figure out what you love to do, take the foundations that have already been built for you, and make them your own.
No one can ever replicate that. And doing your own thing is easy. But trying to follow someone else is so much harder.
The sooner we figure out that there is no “right way” to do business… the better. And I truly believe this is what’s going to set us apart from the white men that have been running things for years.
We get to find more balance, simplicity, and ease. And guess what? It works out even better.
Define Your Brand Values
Defining your mission, vision, values, and your “why” is integral to becoming part of the top 1%.
This is something I pushed against for years. When I first started, I simply wanted to help people. I didn’t think I needed to articulate the why underneath all of it.
But I promise you that having a clearly defined set of values is the perfect way to ensure sustainability as you grow. Those values will define your course of action, especially in the toughest situations.
At Pilates in the Grove, everything we do revolves around our 6 core values. So when I hire a new team member, I ensure they’re in alignment with all of those values.
If they’re not, it doesn’t make them a bad person! It simply means they’re not a fit for us as a company.
For example, one of our values is “we over me.” We cover for each other and help when other team members need it. Sometimes, I interview teachers who want to show up for their three weekly classes, teach, and leave. That’s totally fine for them! But it does mean they won’t be successful in working with me.
Never Apologize For Premium Rates
This is a big one for women. We’re people pleasers and often crave external validation, all due to our societal conditioning. So the idea of charging a higher rate might make you feel as if you’re butting against those core conditions.
But when you can create a premium experience and charge a premium rate, you’re claiming your space as a business owner. Anything you want, you can create. I know people who charge $350 for a private class and $50 for group classes.
They’re amazing teachers, but they’re not necessarily any better than a teacher charging $10 for a group class. The difference is simply that they created a space to charge those rates.
When you do charge premium rates, never apologize. You can always give back in other ways — like offering free classes or donation-based classes.
Oversaturated Does Not Exist
No matter what niche you’re in, there’s always room in the market for you. I’m in a mastermind right now with a woman who coaches others to help them get over their ex.
An oversaturated market if there ever was, right? Yet, she’s extremely successful.
If people do it and are willing to pay money for something, you can be successful. It’s a blue ocean mentality versus red ocean mentality.
Never Be the Smartest Person in the Room
I never want to be the smartest in the room when I’m joining a mastermind, networking, or even just hanging out with my friends. I will always contribute to the conversation, but surrounding myself with smarter women who are doing things I want to do is exactly what allows me to grow as a business owner.
I will never know everything. There will always be women who know more than I do — and I want to meet them. I want to learn from them. I want to grow with them.
Some of the best business advice has come from being in a mastermind with women who are so much smarter than me.
If I could tell you to do one thing, it would be to join a mastermind, especially ones with women leaders and business owners in them. The singular thing that catapulted my growth over the last 5 years has been joining masterminds and putting myself in rooms with women who are going to challenge me to level up.
Curious about what this mastermind looks like for female fit biz owners? Check out the Inner Circle here.
Asking for help is hard! But something else the top 1% of female business owners have in common is their ability to know how and when to ask for help.
Entrepreneurship can feel lonely. You need to surround yourself with people who can make you feel supported in the good times and the bad times.
And don’t forget to turn around and hold a hand out to help another woman up the ladder. This is how we change the world and get that 42% statistic closer and closer to 50% each day.
I would love to hear from you! If you have anything you’d like to add to the conversation, please DM me on Instagram at @Christagurka.
Additionally, if you want to level up in your own business growth, I would love to have you join. Right now, both of my programs are full, so make sure to add yourself to the waitlist to ensure you’re one of the first informed when a spot opens up.