Julie Keller Callaghan
Editor-in-Chief & Publisher American Spa
Julie welcomed repeat attendees from last year’s first WIW event and new attendees for this year’s bigger and better conference.
Sharing some worrying statistics about the inequality of women in executive positions, she advises that networking, mentorship and support are the cornerstones of success and this will change the dynamic.
After sharing a story of her daughter Fiona’s confidence, Julie recommends we all maintain the confidence of our 3-year-old selves!
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Women with Money: Create the Joyful, Less Stressed, Purposeful (and Yes, Rich) Life You’ve Always Wanted
Jean Chatzky, CEO and Cofounder, HerMoney
Jean spoke about aging as a source of boldness. Having a firm grip on our finances and the ability to have open conversations about money is paramount. Many of our relationships with our money are still a mess. Three reasons stand behind feelings of unease despite the steady economic growth over the last decade.
1. Real median household income finally surpassed that of 2007 – it took a decade
2. The amount of financial weight on our shoulders is considerably more, pensions are not stable and healthcare costs are increasing.
3. Life expectancy continues to increase – particularly for women
Becoming Age Proof – having a grip on your health and your money:
1. Assess – know where you are starting:
What do you earn / own / owe…
36% debt-to-income ratio
By the time you are 30 have 1x your income set aside for retirement, at 40 3x, at 50 6x, at 60 8x, by retirement 10x
Use visualization to picture your retirement and make wise choices when faced with items you don’t really need that will drain your savings.
When you automate your savings and investments you won’t be tempted to spend it.
3. Substitute habits
Replace habits that harm to habits that are healthy and promote wellness, do the same with money.
Money makes people behave irrationally and people make bad decisions. How do you manage stress? Money is the biggest source of stress, our body’s reaction is fight, flight or freeze. With money, flight will not ensure your survival, you need a plan of attack.
Three Simple, Smart Money Moves that Will Change Your Life Forever
Diane Harris, Editorial Director, Considerable.com
With just these three moves, even if you do nothing else, you will be financially secure. They will not make you rich, this will not solve bad debt but these moves will help with your biggest goals and will alleviate the stress felt around money.
Managing your money is not just a financial issue, it’s a health issue. Women are statistically more stressed about money than men and lack confidence in money management.
1. Shockproof Your Finances
Every year, 6 in 10 people get hit by a substantial, surprise bill. This puts people in debt, you need to be prepared. The single most important thing you can do is have emergency funds.
Open an account solely for your emergency fund, the separation will help you mentally account for this money separately.
Aim to get to 2000 USD, start with just 500 if needed.
Ask yourself some ‘what if’ questions, to analyze a plan of action in advance. This control can be empowering.
2. Make It Easy To Save For Your Goals
Automating savings takes the decision making out of the process.
Automatically saving while spending or when getting paid improves savings substantially.
3. Practice Mindfulness With Your Money
Budgets are great in theory but don’t work for most people in real life and people give up.
– Put a step between your desire to spend money on something and actually spending the money.
– Impose a 24-48 hour waiting period before buying something.
– Consider the trade-offs
– Check your bank balance before you buy.
– Focus on experiences over things.
Unsubscribe from retailer emails, do not save your payment information to make it easier to buy. Use cash whenever possible. Think more about the kind of spending that makes you happy!
Live Your Mission, Think Like an Innovator, and Win with Advocacy
Elizabeth Scherle, Cofounder and President, Influenster
Elizabethopens with a quote: “A brand is not what we tell the consumer it is – it is what consumers tell each other it is”
Influenster connects consumers with the right products at the right time: 50K pieces of content daily and 500 Million members.
Takeaway 1: Get out of your comfort zone – you will never know what you’re good at unless you try.
Takeaway2: Discover your ‘aha’ moment – what gaps in the industry do you see?
Takeaway 3: Take calculated risks
– The 50 fastest growing women-owned companies
– 70% started with own funds
– 12% funded by friends and family
– 4% investor funded
Takeaway 4: take the road less traveled – nothing comes from sitting on your A$$!
Takeaway 5: Give them an offer they can’t refuse
When faced with NOs, GIVE complimentary access, GET repeat business, BUILD on that success.
Takeaway 6: Listen to your customers
Ask for feedback from repeat customers and customers that turn you down.
Takeaway 7: Build a strong mission and message
Learn how to tell your story and explain what you stand for.
Takeaway 8: Finding the right partners
Founding partners should have complimentary skill sets.
Takeaway 9: Never stop learning and innovating
Stay hungry and avoid being yesterday’s news.
Takeaway 10: Always overdeliver
Make the decision maker look good to their boss, lead by example and work with integrity.
Takeaway 11: Go after what you want, with you’ve got
Be direct and speak up, ambition is not a dirty work
Protect Your Energy, and Let Go of Perfectionism
Claire Wasserman, Founder, Ladies Get Paid
Claire is passionate about helping women negotiate better salaries and ensuring they know their worth. Ladies Get Paid was inspired by the gender wage gap in addition to Claire’s experience with the concept of perfectionism and the immense amount of time wasted by worrying about other people’s perception of her.
Understand what perfectionism is – Is life a report card?
Why do you think youare a perfectionist?
How is it holding you back?
How has it helped you?
What are you afraid will happen if you release it?
Why are you ready to let it go?
The pressure to be perfect:
What’s the worst that can happen?
What’s the probability
Can youprevent it?
If things go wrong, what then?
Think back to a time when you failed… what did you learn about yourself?
You are not what other people think of you, don’t focus on the outcome, focus on what you can control, everyone is fighting their own battles. Claire recommends focusing on being present and learning from experience.
Watch your words:
I am……. (replace with “I feel….”)
Could / should / must / always / have to / never – are judgemental phrases.
Shift your mindset
Prevent procrastination and combat indecision
Be kind to yourself
Keep a brag book of your successes!
Gratitude is the antidote:
I am grateful for…
What would make today great
3 amazing things that happened today
How could I have made today even better?
Work It: Secrets for Success from the Boldest Women in Business
Carrie Kerpen, Cofounder and CEO, Likeable Media
Carrie advises taking everything that you know about yourself and use it to your advantage and ‘work it’!
Telling the stories of other women on social media helped to build her struggling business in a time when it needed it the most. ‘All The Social Ladies’ podcast was launched and Carrie learned about all these women and their businesses, people loved the podcast and she got to tell stories of success.
Rachel felt boxed out in an industry full of males. She left corporate law and created a club for women… Theli.st: awesome women – serious business. Rely on your network of women and support each other.
Kristin was recruited by Facebook yet suffered from imposter syndrome. Feeling totally intimidated, at one meeting with a top exec, she was told to sit at the table, not on the benches. She decided to keep a confidence log of all the times she felt intimidated and what happened. She also logged when she felt confident and identified the reasons behind her feelings.
Lisa interviewed at an executivelevel and for a managerial level position with an insurance company which would be a step down. Drawn to helping people and making an impact she took that position and is now CMO. Finding your motivating factor will help your career path.
Use your mentors as mirrors!
The stranger test:
You have a public, personal brand – ask a stranger to look at your public profile and describe you in three words.
Find your Fab PAB: Personal Advisory Board – who sits at your table and advises you on your life?
Julie thanked everyone for attending and invited everyone to enjoy cocktails and mini treatments by Oakworks, Comfort Zone and Cryofacial. Circadia sponsored the photobooth at the event for the second year running.