Let us face it; there has not been much information out there for
women when it comes to the subject of money. In fact, the
information available out there for women are somewhat demeaning;
how to decorate your home, how to find Mr. Right, how to save money,
how to please your husband etc.
How many times you hear men say "my wife handles the finances".
Women do not handle finances, what they handle is paying the bills
and balancing the check book. When it comes to purchasing decisions,
investing and major buying decisions, you will find that women
abdicate these major decisions to their husbands (Kiosaki, K;
RichWoman, 2006). It is disappointing even to hear parents proud of
their daughters for marrying a foreigner or marrying a rich old man
and saying, "at least my daughter will be taken cared of". How many
times have you heard of such and it just makes you want to scream?
Many Filipino women wanted to go into business but their
considerations (taking care of their parents, their kids, their
husbands etc.) although not necessarily bad, matters most to them
which stops them to pursue financial independence. Women not going
into business roots down to one major thing: FEAR (Kimora Lee,
Fabulosity, 2006). In fact, capital is not the issue because it's
very easy to borrow money or temporarily use/borrow other people's
resources to start a business, what really boils down is the issue
of FEAR and because of this, women don't want to step up because of
fear of mistakes and fear of failing. There are many successful
women who failed, Martha Stewart was imprisoned but came back twice
as strong. J.K Rowling created her first Harry Potter book in five
(5) years! And did it during the lowest time of her life, she was
divorced and living in public assistance. Now, who doesn't know
about Harry Potter? Oprah Winfrey was sexually abused by her cousin
and by other male relatives and friends when she was six and lived
in poverty with her paternal grandmother in a pig farm in
Mississippi but that did not stop her from pursuing her dreams
(Gale.com). During the height of her career she had experienced
downfalls when her being child molested when she was little was
finally brought into open and her movie "The Beloved" flopped
(Marshall, D; Oprah Winfrey, MBC). Now, Oprah came back stronger
than before and is one of the Fortune 50 Most Powerful Women in
Business (Money.CNN.com)
Women should start to realize that in business, everyone experiences
mistakes and disappointments and you will find out that those who
committed a lot of mistakes are the ones most successful. The sooner
you realize that, you will eventually, along the way commit mistakes
and the sooner it will be a lot easier for you to face all
challenges. The truth is, there is no one to help, guide or coach
women on how to start their own businesses. Most often they end up
asking family members or friends who are more afraid of going into
business and never had any experience at all of being in business!
It has been found out that most women who start their own business
only happens due to some traumatic event like, divorce/separation,
corporate glass ceiling, health of a family member and economic
reasons (Women Entrepreneurs, Referenceforwomen.com).
There are many Filipino women out there who are very talented but
getting very low salaries and most are not being treated fairly;
unfair practices at work, office politics etc. (Women Own Business,
Tlmanage.com). In the recent State of World Population 2006 (United
Nations Population Fund), women accounts for the large number of
migration. They either leave their country either by force or by
choice. Although the salary is higher abroad, what women do not
realize is that they are still employees in other countries and
aside from this, they work harder in other countries (sometimes two
to three jobs a day) just to maximize their time and temporarily
escape loneliness of being far from their loved ones. The sad thing
about this, the time with their family is sacrificed and, no amount
of money in the world can compensate lost time with the people you
love: your parents, husband and children (Bo Sanchez). Moreover,
once they are back in their countries, only few of these Filipino
migrants and contract workers shift from being an employee to
businesswomen. The money saved while working abroad is usually never
invested and what you'll often hear, "I don't have a choice" the
fact is, there are an abundance of choices around and you simply
have to pick one and live that choice as if your life depended on
it.
Why then women should start taking control of their financial
future?
First, we can no longer depend on our parents, our man, our boss and
our government. They simply may not be there at all times. I often
heard women unhappy with their relationships because of money. I
have often heard people complain about their salary but still
continue working for their jobs. I have seen in news about women
trading-off themselves marrying a rich guy but ended up losing
themselves along the way. Women must start to realize that they
should never be dependent on anyone to take care of their financial
future (Kiosaki K., RichWoman, 2009). Statistics shows that
approximately 7 out of 10 women, at some time, will live in poverty.
The sooner women realize that they ought to be in business; the
earlier they will be financially independent.
Second, women are more cooperative rather than competitive. This
style is now often taught in business schools. Women tend to create
out of the box methods to further their goal and face obstacles they
face. They tend to listen more. In business, this style creates a
win-win business environment.
Third, women are not afraid to say "I don't Know" (RichWoman, 2006).
According to T. Harv Eker, a self-made millionaire, there are only
three (3) things that we should never think of when going into
business and that is to say, "I know, I know, I know". Saying "I
don't know" is the most powerful tool women could have. Pretending
to know all the answers because you don't want to look stupid comes
from having a low self-esteem and low confidence. You will be amazed
that when you say "I don't know", many things open up for you.
Fourth, women do their homework. I often hear during college days
that if you are a guy and you want to graduate on time or as soon as
possible, "you'd have to find a girlfriend, this way you will have
someone do your homework for you." Although girls here tend to look
like as if they are their boyfriends' slave, women as a general rule
really do their homework. In business, women tend to do research
more and they spend researching about their investment choices than
most men do. When looking for the best investment, women tend to
weigh options before going into the "hot tips".
Fifth, women are nurturers. In business, this natural character
creates long-lasting relationships with clients, employees and other
business networks. Even when it comes to investing, women "nurture
their investments" more than men.
Sixth, women possess high emotional intelligence (Mika Hamilton,
Global Investment Institutes). The one thing that men have in common
is EGO. Men tend to let their egos make decisions for them. Women
will tend to invest according to a plan and not according to the
mood they are in or to what will make them look good.
Seventh, women ask questions. How many times have you experienced
that when asking for directions, men don't want to ask? Even with
couples being lost along the way, it's the woman who ends up asking
directions. The good thing about this, when it comes to any kind of
business, women will often seek advice from people who have been
there and done that and when it comes to investing women will often
ask questions rather then figuring things out on their own.
Eight, we are definitely great shoppers. We know how to spot a
bargain. Why does this matter? When it comes to investing, it's like
spotting the best deal, priced below its actual value and there is
no other way but to buy it.
I'm not saying that women are greater than men; each individual has
their own talents and skills that are of advantage in business. What
I am saying here is that there are definitely a lot of advantages
for women to start going into business and to start taking control
of their financial future. In business, time is of essence, the
earlier you start, the higher chances of succeeding. Robert Kiosaki
said that if you start later in life or go into business after you
retire; there are already lots of important things you have to
consider like your health and the emotional toughness to handle
disappointments along the way (Retire Young Retire Rich, 2002).
There are definitely a lot of opportunities and possibilities out
there waiting to be discovered. The best way is to go out and
personally be in the game. Just mere thinking of going into
business, reading books, listening to audios (though educational),
is still passive learning, to quote what Benjamin Franklin
said, "the credit goes to the one who is in the arena". Look for a
businesswoman who can help you and mentor you. There are many
successful businesswomen out there who will not hesitate to tell you
their story and give you a piece of advice. Simply having a
conversation with them is already learning actively. Don't ask women
who never had any experience at all of going in business. It's funny
because most of the time, those who have a lot to say are those who
never been there and done that. You will find out that
businesspeople no matter what their gender is, have one thing in
common; they take risks and their dreams are bigger than their
circumstances. You have to realize that to be successful in life you
have to be "in the zone" and do what Nike says, "Just do it" and you
will be amazed by your own skills and strengths.
Just trying to do something-just being there, showing up- is how we
get braver. Self-esteem is about doing."-Joy Browne
Islempress
09/18/2006
To all women out there who still haven't registered to the 3rd
Financial Literacy Workshop: Richdad's Cashflow 101 on October 1,
2006, register now and start taking control of your financial
future. Registration fee is Php 800.00. For registration details and
other information please send us an e-mail at redlyre@yahoo.com
From: "Marsel"
