Today I am finalizing my preparations for my annual planning retreat for women leaders, which starts tomorrow. We spend a weekend planning for 2009. I’m writing this post today to remind you that it’s essential for you to spend time planning strategies and tactics to grow your business.
Women can get emotionally attached to their business. I’ve had many clients tell me about their business, "It’s my baby." Of course, it’s important to have a strong commitment to your business like you do to your children, however, a business needs to have a life of its own. Just as we raise our kids to be independent and self-reliant, so too, do we need to set up our business for success and to run without us.
There are several reasons this is important. One is to make sure you have enough balance and freedom to live as you want and not be shackled to your business. The first step to do this is to increase the financial health of the business to increase your wealth, which contributes to your balance and freedom.
A recent article in the Dallas Morning News presented some shocking statistics about the financial health of women:
- More than half of working women reported in a recent national survey that they can afford to save nothing for retirement.
- The median annual income for retired women is less than two-thirds that of retired men, partly because women have less income from pensions or retirement accounts.
- Women tend to take money out of retirement funds to pay for college and weddings for their kids, leaving them without enough to take care of themselves in retirement.
Please plan for your personal financial future as well as the future of your business. You can learn more at http://www.dallasnews.com/business/personalfinance/ or search for the article by the title: Women are more likely to outlive their savings.
This blog is written by Kathy Garland, Kathy Garland International, a company whose programs reveal the soul of women leaders to enhance their wealth, balance and freedom. www.kathygarland.com
