TBS spoke with Julia Pimsleur who is empowering female entrepreneurs, aiming to get $1 million for one million women by 2020.
TBS: Good morning, Julia. Can you tell us here at TBS a little about how Million Dollar Women came to be?
Julia Pimsleur: I had a business that I built and ran for nine years – Little Pim – and now I have a mission. It took me many years to scale up my business into the multi-millions in revenues, and I want to help other women get there faster. My mission is to help one million women entrepreneurs get to $1M in revenues by 2020. I work with women around the world via my online courses, in-person workshops, and my book, Million Dollar Women: The Essential Guide for Female Entrepreneurs Who Want to Go Big. What I am most focused on right now is the online course I recently created to help women scale up their businesses quickly. It’s called Million Dollar Women Masterclass and it provides the content, community and coaching for women who are ready to double their revenues and get on a course to quickly reach $1M.
You’ve shown us that having a successful career and raising a family at the same time is possible. What advice would you give to the women being told the exact opposite?
Focus on what you want. Reinvent motherhood to suit you. Don’t care what anyone else thinks. Being an entrepreneur is a great way to create freedom and financial success for yourself and make up all new rules about work-life balance.
Being a mother yourself, and starting your own business as a “Mompreneur,” what were the most difficult situations you had to overcome in getting a start and respect in your field?
As part of my mission of helping more of us to build multi-million dollar companies, I want to discuss the “elephants in the room” for women entrepreneurs. Limiting beliefs and the confidence gap are some of these elephants. When we don’t identify the confidence gap we may fall into it. I know when I set out to raise venture capital I didn’t think I could do it, so at first, I didn’t. I spent nine months doing research before even talking to one VC. We may feel we can only make bold moves we need to make to succeed – including raising capital, negotiating hard on a deal, approaching a new mentor or advisor – if we feel 100 percent certain we can ace it. Some of this comes from how we were socialised. Broadly speaking, girls have traditionally been socialised to please adults, look pretty and having the right answers. Boys, on the other hand, speaking broadly, are encouraged to play sports, get dirty and learn to contend with repeated failure on the sports field. Even though these norms are shifting as we become more aware of how limiting these roles are, these stereotypes are still engrained in our culture. The result is the confidence gap and women who take fewer risks than men do.
Prioritising seems to be a key factor in being efficient and running a successful business. What would be your top three things women need to be doing/prioritising to make it work?
You are your most valuable asset. Invest in your own professional development.
Get an assistant even if it’s part-time or a virtual assistant. See my Delegate Your Way to the Top blog on this.
Stop beating yourself up for what you are not good at. Just surround yourself with people who complement you, whether it’s staff, consultants or an advisory council.
If you could tell women who are managing their own businesses whilst also being a mother, what would you advise them to remember, or a mantra that they should repeat?
I have a few personal mantras that I come back to when I feel like I just want to get back under my covers or hand off the keys to the office to the nearest store clerk. They include, “If it were easy, everyone would do it.” And “Fortune favours the brave.” One of the most fun parts of writing Million Dollar Women was learning what other women who were also running high growth businesses have as their mantras. I assembled the 10 mantras we all agreed on as Million Dollar Women Mantras and posted them on my website. The artist I worked with on the book also drew them as Wonder Women cuff bracelets (you know, the ones she used to make a force field!). Women have been sharing them on social media and sharing their own mantras, and I love thinking that we are all “wearing” these virtual mantra cuffs as we go about building our businesses and tackling the tough stuff.