
The newest report on unemployment released on Friday shocked me: 600,000 jobs have been lost in the last month. The New York Times and other papers covered the news along with tallies of huge companies that were shedding jobs by the thousands. But before we give in to the desire to hide under the covers, there's another number to think about--small businesses account for more than 60% of jobs in the U.S., and many of them are holding on to their staff or growing. I'd like to share with you another story I just heard, from woman in the M3 RACE.
Ginny Jones started Kinetic Electric Group by tapping the family bank. To start her electrical contracting business, Ginny took $75,000 out of her family's savings and used her credit cards. Over the following months her staff grew from three employees to 45. In their first year, they did $1.875,000 in gross revenue. She told me, "It's been very fast growth, but at the same time it's been hard. My husband just looks at me and says, 'If it's going happen, it's going to happen. Don't worry about it.' He keeps me in check. But I still worried!"
There are hard times for women starting businesses, for their relationships, and for the businesses themselves. Ginny is very straightforward about her advice for starting a business, "It's recognizing that a lot of others have done started businesses and you can do it too. Yes, you're going to face adversity and that kind of thing, but just get over your fear."
"I believe in transformational leadership and really empowering the people who work for me to take on more leadership roles. And that's really how my company's evolved and gotten better. We just have a lot of really good people and we're doing so great things."
"The other thing is women are always scared to mention they want to make money. I read this all the time—'Oh I want to have a business, have a purpose.' That's great. But the whole reason you have business is to make money. Period!"
Ginny currently has has 51 employees, six of which have been added in the last six months. Her business is going strong and we are proud to count her among the many women in the M3 RACE who are continuing to keep their businesses alive and aren't afraid to keep growing.
You can join Ginny in the M3 RACE and have access to the same support that's helping her continue to grow at makemineamillion.org. It's not too late!
Learn more about the Make Mine a Million $ Business RACE.
The Lineup is our blog of lists that cover topics like health, money, career and books. Written by Reader's Digest editors and guest experts, The Lineup will give you great advice you can use in your daily life.
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