The One Percent Edge | How Business Women Leaders Can Gain Advantage and Build Sustainable Success | Susan Solovic & Sabrina Braham MA PCC |Womens Leadership Podcast

Women's Leadership Success

How Business Women Leaders Can Gain Advantage and Build Sustainable Success? We all know change is one thing that’s constant in life, but how much effect does change really have? How important is it? How can you evolve to change and use change to keep business sustainable? Today we are going talk about how small changes can make a big difference and establish a sustainable business with entrepreneur Susan Solovic. Susan is a business woman herself, a business contributor to ABC News and other leading networks, and an award-winning serial entrepreneur. Susan is here with us to explore and help us understand how change gives that 1% edge to business women, help them move ahead in business, and how to make small changes for sustainable success. Being a serial entrepreneur, who else can better explain how to sustain as a business and coach on women's leadership? Right? “You don’t want to stay in the status quo. You want to be in the status grow,” Susan Solovic Why Become Outdated and Extinct? Susan says many companies want to stick with what has worked for them in the past and follow them. This means, they’re looking back, instead of forward and that’s one of the key reasons they’re failing. Basically, they’re too engrossed with their operations and afraid to make changes. As a result, they’re following old styles and methods, failing to see how things are changing around them. Don’t Stay in “Status Quo” Instead be in “Status Grow” In her words, “You don’t want to stay in the status quo. You want to be in the status grow,” We’ve all see numerous companies, even fortune 500 companies closing down their operations recently. It is not that they don’t have products that are in demand anymore; the truth is they have stopped being innovative. So, the first thing she addresses is the edge business women need for sustainability. How Business Women Leaders Can Gain Advantage and Build Sustainable Success? Business Women Innovation = Sustainability We all think innovation is a drastic change and a completely new concept or product. The truth is, it doesn’t have to be. Innovation is the edge that brings sustainability. Being on the lookout for changing trends and keeping oneself updated is the key to sustain in business. Does that mean the change is about how we look at things? It is. She’s quick to add that innovation doesn’t have to be destructive or something big, rather, even small and simple changes that will let us stay current. In her book for business women (and men), she says even with best products or concept, without the right people, management and infrastructure it will not succeed. She says it is important to understand that there’s no need to make an impact to sustain as a business women, just adapt to stay ahead of competitors. When you want to evaluate and determine if the business is going in the right direction, ask yourself how do you do it? She says, everything should be questioned. She says the entrepreneur should feel proud about the achievement, but it is important to leave ego or other feelings at the doorstep and critically evaluate if everything is right. She says it is important to ask questions, small or big, absolutely everything should be evaluated and questioned: Do I have the right people? Do I have the right people? Are my products / services current? These are just a few suggestions to give you an idea. No Room for Ego She says it is equally important to ask tough questions. Examples include: Is the technology I am using current or outdated? Who is my competition? I have thought that myself when I started coaching in corporations and business women. I have always wondered how they would find time to strategize and think if they’re always busy! Use Technology to Your Advantage She points out in her book how technology has made a lot of things easy, for example Social Media. Earlier, getting customers’ feedback or finding market requirement...