There are over 12 million woman-owned* companies in the United States today.
Out of those 12 million businesses:
- The majority (78%) will remain financially stuck, never generating more than $50,000 per year.
- A tiny minority (4%) will thrive financially and generate $500,000 to $1,000,000 per year, and above.
While it’s exciting to make more money, it comes with its own set of challenges too.
After you’ve spent years climbing Mt. Millionaire and you finally reach the summit—at long last, you’re part of that 4%—it can be lonely at the top.
When I talk to colleagues and clients in this top 4% bracket, they tell me:
- “People seem threatened by my success. I get the nastiest comments from online trolls, mean emails, all kinds of negativity. It’s almost as if people ‘liked me’ better when I had no money.”
- “I feel the weight of the world on my shoulders. I’m no longer responsible for my own salary. Now, I have 10 employees who count on me for their paycheck.”
- “It’s scary to be a public figure and have a large following online. Every single decision I make is being scrutinized by the public, dissected, screen-shotted, and re-posted, and I’m not allowed to make even the tiniest mistake or else I will be #canceled.”
- “When I have something exciting to celebrate, like a big financial win or media appearance, I feel alone. I worry it’s not appropriate to gush excitedly to my friends when so many of them are struggling. So I just keep quiet and don’t tell anyone.”
- “I’ve been grinding away for so many years and I’m proud of what I have created financially. Also: my body is falling apart, my marriage is shaky, all those years of high-intensity-hustling are catching up with me. I’m honestly not doing okay.”
If you’re in the top 4%, and you’re feeling lonely, stressed, or crumbling under the pressure on your shoulders, this is what I recommend:
- Find at least 3 or 4 friends at your current income level. People who can celebrate with you, and who understand the highs and lows that you go through. These friendships will be a daily balm for your spirit and give you the emotional support that you need.
- If you don’t have any friends like these, go find them. One option is to join The Hello Seven Incubator, where you’ll be placed into a small group based on your current annual income. If you’re curious about this, you can see more info and apply here.
- Invest in your physical and mental health. Whatever you need in order to feel your absolute best—therapist, marriage counselor, chef, nutritionist, trainer, stylist, or eight hours of sleep every night—give it to yourself.
- Don’t feel guilty about the wealth that you worked hard to create. Skip the guilt. Instead, enjoy your Chanel body-glow shimmer powder (you’ve earned it!) and focus on being a role model and mentor. Pay your employees well and treat them with respect. Teach other people how to build wealth. Pass on what you’ve learned. Create the next generation of thriving wealthy badasses.
Our mission at Hello Seven is to create a world where a woman-owned business that generates $500,000 to $1,000,000+ per year is no longer “unusual” or “rare” but completely normal. Instead of just 4% at this level, we want to see 20%, and then 30%, and beyond.
Whatever income level you’re currently at, try to enjoy the climb. Celebrate your milestones along the way, and the joys and challenges at each level. You can feel gratitude for the money you’ve got, while still reaching for more.
And when you are ready for more…we’re here to help you get it.
xo,
Rachel
* We often use terms like “men” and “women” when we share financial data. This is because, unfortunately, there isn’t much data available on people who don’t fall into those gender categories…yet. The IRS and Census need to catch up with the reality of our world. As new data gets released, we look forward to bringing it to you. Folks who identify as non-binary, non-gendered, pangender, genderfluid, third-gender, two-spirit, or whatever identity is true for you, please know that you are welcome and beloved in this community.
