In a world where finance and business have traditionally been male-dominated, women entrepreneurs have had to work twice as hard to make their mark. Despite facing challenges, many women have made significant strides in the business world and have achieved great success using finance products to grow their businesses. Let’s take a gander at some famous women in business who have famously used finance products to get ahead and how these products helped them achieve their goals.
1. Sara Blakely
Sara Blakely is the founder of Spanx, a company that produces shapewear and other undergarments. She famously used credit card debt to fund her business in its early stages. Blakely was unable to secure funding from traditional sources, such as banks and investors, so she turned to credit cards to finance the launch of her company. Her hard work paid off, and today Spanx is a household name and a highly successful company.
2. Sophia Amoruso
Sophia Amoruso is the founder of Nasty Gal, an online retailer that sells vintage and contemporary clothing, shoes, and accessories. Amoruso started her business by selling vintage clothing on eBay, and eventually grew
her business into a multi-million-dollar company. She used credit cards to finance her business in the early days and utilised lines of credit to help her grow her business. Amoruso's hard work and determination paid off, and
today she is a successful entrepreneur and author.
Beyoncé is a world-famous singer, actress, and entrepreneur. She is the founder of Ivy Park, a fashion brand that produces athletic wear and casual clothing. Beyoncé used a business loan to finance the launch of Ivy Park. With the help of the loan, she was able to create a successful brand that has gained a large global following.
4. Arianna Huffington
Arianna Huffington is the founder of The Huffington Post, a news and opinion website that has become one of the most popular news sources on the internet. She used a line of credit to finance the launch of The Huffington Post, which allowed her to grow her business without taking on debt. The Huffington Post was eventually sold to AOL for $315 million, making Huffington one of the most successful women in media.
5. Jo Malone
Jo Malone is a British perfumer and businesswoman who founded the Jo Malone London fragrance company. In the early days of her business, Malone used credit cards to finance her company's growth. She also utilised lines
of credit to help fund her expansion into international markets. Her hard work and determination paid off, and Jo Malone London became a highly successful company with a loyal following around the world. Today, Malone is a highly respected entrepreneur and a role model for women in business.
6. Oprah Winfrey
Oprah Winfrey is an American media executive, actress, and philanthropist who has achieved immense success in her career. She is the founder of the Oprah Winfrey Network (OWN), a television network that features programming designed to inspire and empower viewers. Oprah has famously used credit cards to get ahead in her career. In fact, when she was just starting out, she used her credit cards to finance the launch of her talk show, The Oprah Winfrey Show. With hard work and determination, she eventually paid off her credit card debt and went on to become one of the most successful women in media.
These women are just a few examples of the many successful female entrepreneurs who have used finance products to get ahead. They have shown that with hard work, determination, and a little help from finance
products, anything is possible.
If you are a woman in business looking to grow your company, there are many finance products available that can help you achieve your goals. Here are a few examples:
1. Business loans:
A business loan can provide you with the capital you need to grow your business. You can use the funds to purchase inventory, hire employees, or expand your operations.
2. Lines of credit:
A line of credit can provide you with access to funds when you need them. You can use the funds to cover unexpected expenses, purchase inventory, or take advantage of new opportunities.
3. Credit cards:
Credit cards can be a useful tool for entrepreneurs, as they provide a convenient way to pay for business expenses. Many credit cards also offer rewards programs, such as cashback or points that can be redeemed for travel or other perks.
Crowdfunding has become a popular way for entrepreneurs to raise capital. By using a crowdfunding platform, you can solicit funds from a large number of people who believe in your business idea.
There are many grants available to women entrepreneurs that can provide funding for business expansion or research and development. These grants often have specific eligibility criteria, so it's important to research the options available and apply for those that are a good fit for your business.
As a woman in business, it's important to remember that finance products are just one tool in your arsenal.
Success in business also requires hard work, determination, and a willingness to take risks. It's important to have a solid business plan and to seek out mentors and advisors who can offer guidance and support along the way.
After a 20 year as a business owner within the beauty and hospitality industry Hilary pivoted into corporate finance. Her experience and knowledge spans the fields of Management, Marketing, Branding, Social Media, Communications, Digital Media, Business and the Beauty Industry.
Hilary is your go to girl when it comes to business funding. As an ex business owner she understands what businesses face on a day to day level.
You can connect with Hilary here.