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Women Entrepreneurs: Navigating the Crossroads of Purpose and Profit

by Marissa Rehder
July 13th 2023

Welcome to another insightful episode of the Marissa Rehder Show, titled "Women Entrepreneurs: Navigating the Crossroads of Purpose and Profit". This episode is a deep dive into the unique challeng... More

Welcome to the Marisa Raider Show where we are going to be exploring the unique challenges and opportunities that women entrepreneurs face in today's business world. I'm your host, Marisa Rader. And today we'll be discussing strategies for women entrepreneurs who desire to balance both purpose and profit in their businesses. Get motivated and inspired to take your business to the next level with a Marissa Raider show. This podcast was created for female entrepreneurs who want to manage the juggling act of successfully running a business and raising a family, hosted by mom, wife Ceo and Breakthrough coach Marissa Rader. The show features topics such as effortless goal setting, forming successful habits, reducing stress levels, starting your own business and more. Take your business to new heights with Marissa's expertise on how to be an empowered woman in charge of her career. By understanding how both sides can be equally important. You will learn how to make amazing things happen while also balancing home life.

It is absolutely possible. Listen, now as Marissa helps give you the insight and guidance that you need to reach all your goals. Check out our website at www dot Marisa raider dot com. Or follow along on Instagram at Marissa Radar coaching for tips, tricks and motivation to unlock the secrets of success in all aspects of your life. Hey, hey, welcome back to another episode. So glad that you're here. I want to talk to you today about balancing your purpose with your profit inside your business. And that is something that I hear so often is that when small business owners, women especially are trying to balance all of the things and oftentimes are running their businesses on their own or with very little help. How do do I balance my purpose but also do the things that bring in my profits. So, balancing, purposeful and profitable business practices is an ongoing challenge for so many entrepreneurs.

However, by understanding time tested principles and learning from successful women entrepreneurs who have already navigated this path, it is possible to achieve both financial success and a sense of purpose in your business. So let's get started. The first thing I wanna talk about is time tested principles for balancing your purpose and your profits. So to successfully balance purpose and profit, it's essential to have a clear vision and mission for your business. This foundation is going to help guide you decision making and ensure that your actions align with your values. Something that I talk a lot about on this show. Additionally, setting measurable goals and regularly evaluating your progress is going to help you stay focused on both your purpose and your profit. So if you're wondering, hm, how do I actually set these measurable goals or how do I actually evaluate my progress with these goals or how do I determine my values?

There are episodes in the archives here, like you might have to go way back for the values one, but I will list those in the show notes for you, but I have episodes dedicated to those exact things. So let's move on and talk about challenges and solutions that women entrepreneurs are facing. Oftentimes we face unique challenges when it comes to balancing our purpose with our profits, such as societal expectations, limited access to resources, pressure to conform to traditional business models and to overcome these challenges, you need to consider seeking mentorship from other successful women entrepreneurs or building a supportive network and then advocating yourself and advocating for yourself and your business. That's one of the things that I value so much in my coaching business is helping women find mentors network, build a supportive network for them and then advocating for themselves and their businesses.

And that's one of the reasons why I put on my annual Woman To Woman Conference because I want a safe place for women to come and learn and grow together. So if you're in the Northwest Iowa area, South Dakota Minnesota, um even Nebraska area, we've got women coming from all over the Midwest for this year's conference in September. Make sure you check that out also link that, you know, just another shameless plug here. But one of the key things is getting in the room with other women who are in the same place you are, you may not be running the same type of business or have the same business model or any of those things. But showing up and being in, inspired by other women taking action is key to solving some of those challenges and those things that you struggle with in your business. Other women have been where you've been and you don't always necessarily have to pay for your mentorship. Now, if you really do want to get serious and pay for a coach, do it, I mean, that's literally what I do.

But I want you to know that there are women out there who are willing to take you on their own success journey and help you build yours without ever having to pay them a dime. The next thing that I wanna touch on here is that many women entrepreneurs have successfully balanced purpose and profit in their businesses. For example, Anita Roddick, the founder of the body shop, built a global brand by focusing on ethical and sustainable practices while also generating significant profits by staying true to her values and her vision, she's been able to create a thriving business that made a positive impact on the world. So there are tons of stories just like this one out there. But the common denominator that they all have is that they focused on their values, their goals, their vision and their mission. And it wasn't just about running a successful business. It was about impacting the world while they did it.

So let's dive into some tactics here for actually having that balance in your life. So to balance purpose and profit in your own business, you need to consider implementing these ideas. So the first thing is prioritizing your values and mission when making your business decisions, seek out opportunities for collaboration with like-minded businesses or organizations and then incorporate social impact initiatives in your business model such as donating a portion of profits to charity or supporting local causes. And that's hard to do when you're just starting out and you're like, I'm hardly even paying myself with the this business, let alone donating to charitable causes. But for me, one of the things that I like to implement into my business is I am part of a card club. Shout out to Rosie's boutique in Iowa here they have handmade cards by women in Haiti.

It gives them a job with amazing benefits compared to other jobs that they could have in Haiti. It allows them to care for their families and to do a job that is safe for them and their families. And so one of the things that I have implemented in my business is I use their hand stitched cards in my gift boxes. So when somebody wants a gift note included with their gift box. I go to my stash of Rosie's boutique cards and I pull one out. Am I donating tons of money to the organization at this point? No, because I'm hardly being able to pay myself out of my product based business because I'm growing at such a rapid pace that I'm continually reinvesting in it. But right now that's one thing that I can do. I can buy these cards, help these women stay employed and the recipients of these gift boxes get beautiful hand stitched cards with a handwritten note inside them, which is hands down such a great touch for my branding.

Not only does it make me feel good that I'm getting to use these cards, but the people receiving it feel good when they get such a beautiful, unexpected piece to their gift. The next thing that I want to talk about here though is conscious. Wow, that word is hard, conscious decision making and then maintaining your purpose as you navigate the journey of balancing purpose and profit, it's essential to remain conscious of your decision making and then maintain that sense of purpose that why continuously evaluating your actions and ensuring they align with your values and your vision while also contributing to your financial success. So, in conclusion here, balancing purpose and profit is an ongoing challenge and by learning from successful role models, employing specific tactics and maintaining a sense of purpose it is possible to create a thriving business that aligns with your values and also provides profit.

I encourage you to join this conversation and share your own strategies for success advice on managing competing priorities and connect with other like-minded entrepreneurs who are committed to balancing their mission and making a profit. And you can engage with us in our Facebook group or you can leave a comment on my website or email me. I will link all of it in the show notes and I just want to thank you for tuning into this episode of the Marisa Raider Show. Be sure to subscribe so that you don't miss any future episodes and please share your thoughts and if you found something valuable in this episode, share it with a friend and until next time, guess what, I'm gonna be here, cheering you on. Thank you for joining us for another episode of the Marissa Raider show. Our goal here is to support and encourage female entrepreneurship along with managing the everyday chaos. Life throws our way. We strive to help women who want to take their lives and business aspirations to the next level and know that that takes focus, dedication and hard work to get there for more great content for Marissa.

Be sure to check out her website www dot Marissa Raider dot com or follow her on Instagram at Marissa Raider coaching. See you next time on the Marissa Raider Show.

Women Entrepreneurs: Navigating the Crossroads of Purpose and Profit
Women Entrepreneurs: Navigating the Crossroads of Purpose and Profit
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