Tag: business

Breaking Down Focus 2021 – What Comes Next?

We are still on cloud nine from last Wednesday, March 31st, presenting the Momentum Conference, Focus 2021. Our goal: to combat the physical and psychological toll from 2020 through a more positive focus in 2021. The multifaceted conference featured inspiring keynote speakers, Momentum Lessons in Leadership, and messages from our sponsor partners. We explored our strengths in innovative teamwork, work-life management, making bold career moves, and supporting inclusive cultures.  

 

A main highlight was the return of our fabulous keynote speakers from Vision 2020, Risha Grant and Robyn Benincasa.

 

Takeaways from Risha Grant (Learn about her here)

Speaking on her experience trailblazing diversity and inclusion practices at Regions Bank, she urged us to “turn our brains off auto-pilot” to identify and address our biases.  To focus on equitable change we have to understand we have to understand how our individual behaviors, actions, support for certain workplace policies, and attitude to change hinder or support our efforts to social progression. 

Click to see her additional tips for carrying this internal reflection in a mindful way and more about sustaining personal progress on the Focus 2021 Resource Page.

 

Takeaways from Robyn Benincasa (Learn about her here)

Robyn shared her iron approach on how leaders should carry courage and guts through their journeys “adapt, overcome, and win” against tough challenges in their environment. She related this to the motivation necessary for her to continue to ascend the 19,000 ft. summit of a volcano. 

Remember, GUTS means:

Go the distance, quietly persevering

Unwavering in patience and faith

Taking calculated risks

Shattering the norm

 

How Can We Keep the Fire?

 

#1: Continue to encourage self-exploration through journaling 

There is no feeling freeing than the flow of unprovoked thought. To meaningfully access to our subconscious beliefs and attitudes, we must first displace the filtering, perfectionist monitoring of even the things we write to ourselves. Personal journaling can help us address the start of a negative thought and pull it out from the root.

 

Helpful Journaling Guides:

A Journal Prompt for Every Emotion You Feel

Start a Work Diary And Leverage it for Career Growth

 

#2: Fuel respectful discussions with others

The key to communicating is first and foremost active listening. We do this by tuning our attentiveness, our patience, and our receptiveness of what others confide in us. This should be a mutual practice among the members of a discussion group and should reflect a bare foundation of respect and empathy. It is challenging to engage in conversations about inclusion that might have never been confronted before, but if we are patient with others and ourselves it will empower us to have brave conversations.

 

#3: Give yourself some grace

We must understand that we do not all innately hold the perfect solutions to the problems we confront in our 3D world. We are positive people, passionately moving forward, building on our knowledge and reflecting that personal growth outwards.

 

ALUMNA SPOTLIGHT: BRITTNEY SMITH

 

What did you gain from your Momentum experience?

Relationships. I had the opportunity to meet so many incredible women who are making an impact in Birmingham. Some of them even went on to become friends, which is something I count as my greatest gain. Another thing that contributed to my Momentum experience was the specific professional season I was in. There’s a point in every career where you have achieved quite a bit, but there’s still much more to go in terms of navigating the journey and taking ownership of your career, and Momentum helped me take more control over my career journey.

What is one piece of leadership advice you have been given that has helped you in your career?

Early on in my career, someone shared with me a piece of advice that still applies no matter what stage of your career you’re in, and that’s the need to trust that your God-given ability will always make room for you. If you give your best in whatever position you’re in, do right by people, and be authentic, the right opportunity will always come to you. When I think about people that have given me advice I think it’s especially important, that when the door of opportunity is opened you’re ready to walk through it, and also leave the door open for other people to follow. 

If you knew then what you know now, what would you tell your 18-year-old self?

The first thing I would say to my younger self is that success is a journey, and never compare that journey to others. The other thing I would add would be to learn at every stage and step of your career. No matter how difficult the job or the season may be, there is always something to learn.

What challenges do you think the next generation of women leaders faces?

The first thing that came to mind would be balance. In the new normal of work, more and more companies are allowing people to work remotely, though that’s a huge plus, it increases the difficulty of drawing an important line between work and home. Both men and women have different home priorities, but it is especially true for women. 

The second thing that came to mind is connectivity. Relationships are incredibly important and it’s much harder to fully connect in a gratifying way in a virtual world. Women need to find ways to be intentional and overcome that obstacle to build and maintain relationships as we move away from traditional work experiences. 

What do you think organizations need to do differently for more women to rise into executive roles?

Mckinsey & Co. produced a report in partnership with the Lean In organization back in 2019. According to the report, for every 100 men hired or promoted into a first-time manager role, only 72 women are hired into that same position. These numbers are even lower for women of color. That’s a gap. When I think about potential solutions, I immediately think of sponsorship. Companies have the opportunity to consider putting more thought into building out a framework for sponsorship specifically for women and underrepresented minorities. Most people are willing to mentor, and I think that mentoring is an incredible opportunity, but women need sponsors, advocates, people willing to invite us to the table and have our voices heard to truly experience growth. 

What three words do you think should characterize every leader?

The first one is integrity. Good leaders should do what they say they’re going to do. People should be able to trust their words. A good leader will do the right thing, even when no one is looking. The second word that comes to mind is vision. I think the ability to cast a vision as well as bring others into that vision and help them see how they fit into the vision is a sign of a good leader. The last thing I associate with a good leader is empathy. Good leaders can connect with people and share the feelings of others.

How do you manage your career, home, and community life?

This is something I am in the process of restructuring how I balance all of those. One of the things I have been doing is making sure I know my priorities. For me, my priority is my family. I always want to be the person that thinks of my family and uses them as the drive for my success, not the other way around. One of the things that helps me balance my priorities, which I learned through one of the Momentum courses is taking a survey of all of my activities and responsibilities and ranking them based on what I can control. It’s also important to take the time during the day to accomplish the things that I need to accomplish so that it doesn’t carry over into my personal life. 

What advice do you have for aspiring leaders?

My advice would be, talent is a start but it’s not enough. Sometimes we focus so much on the base talent of intellect or creativity and that’s great. What’s equally as important is development. Invest in your development. Develop your environment, and that includes your network, your skillset, and your character. 

The Benefits of Diversity and Inclusion within the Workplace

 

Employees are prioritizing diversity and inclusion strategies more than ever in order to ensure their teams are prepared for success. Diversity in the workplace leads to a variety of benefits, both internal and external. In order to effectively implement these strategies and receive the benefits, you have to understand what diversity and inclusion mean in a corporate setting. 

What is diversity in the workplace? 

Diversity in the workplace refers to the intentional employment of a workforce comprised of people from diverse backgrounds, religions, genders, races, ages, ethnicity, sexual orientation, education, as well as other qualities. 

The benefits of diversity in the workplace:

1. Wider Talent Pool

Gone are the days where employees are seeking a typical 9-to-5 job with a good salary. Most people nowadays are looking for a job where they can grow, feel accepted, and be challenged. Implementing diversity allows companies to attract a wider range of candidates looking for an innovative place to work. 

2. Fresh Perspectives

Hiring people from various backgrounds, ethnicities, nationalities, and cultures brings a new set of perspectives to the company which can lead to increased critical thinking, problem-solving, better productivity, and increased innovation. 

3. Increased Innovation

Workplace diversity leads to increased innovation. Companies with a lack of diversity suffer from homogenous thinking, meaning that their thought patterns are so similar it is hard for individuals to create something new. A heterogeneous group of employees contributes to unique perspectives which can lead to breakthrough ideas.

4. Better Employee Performance

Diversity and inclusion are harmonious. When the company culture reflects a healthy mixture of cultures, backgrounds, and opinions, employees are more likely to feel comfortable, relaxed, and ultimately themselves. This leads to happier employees which increases productivity. 

It’s critical that companies understand the importance diversity and inclusion play resilience and success. Effective diversity and inclusion help better employee support, build culture, and create a flourishing workplace. Employees will feel more engaged as a result and show up to work feeling safe, connected, and heard

Momentum February Webinar – “Ignite Your Spark”

On February 23, 2021, Momentum hosted a Webinar with Jeannine Bailey, the Talent and Employee Management Manager at Alabama Power. Along with Momentum’s Katherine Thrower, Manager of Logistics and Events, she guided a conversation with Birmingham women about finding purpose and passion outside the office.

 

About Jeannine Bailey, MBA, SHRM-SCP

We are happy to highlight Jeannine who was part of our Executive Class 15 (from 2015). Jeannine is a seasoned Human Resources, Public Relations, and Communications professional. She began her career with a rich 10 year background in Broadcasting, working for stations across cities such as: Salisbury (MD), Colorado Springs, Boston, Hartford (CT), and recently for iHeart Radio in Birmingham. She carried this experience into positions involving PR and Fundraising. Then, joined Alabama Power (Southern Nuclear) in 2013 as Communications Director. She moved up to a Human Resources Director (in 2017) and to her current position in March 2020. In this role, she leads the talent management team to grow internal and external resources,  employee engagement strategies, and employee development opportunities.

 

To view the recording video, please visit this link:

http://https://youtu.be/elcsWIMEIWw

Birmingham Business Journal Spotlights Momentum Executive Class Alumnae

On February 22nd, 2021, the Birmingham Business Journal hosted a free Webinar themed “BizWomen Mentoring Monday.” The 90-minute round-table coaching session presented the opportunity for women to engage with and learn from 44 pioneering Birmingham businesswomen (featuring our own: Barbara Burton, Joy Carter, and Teresa Shufflebarger). The general leadership  development session was followed by breakout sessions and a Q&A. This event is one of 40 ones across the country overseen by the national news publisher, American City Business Journals. The events are swelling support for women to meaningfully network with incredible numbers: 1,700 mentors and 8,600 mentees.

 

Our Alumnae:

Barbara Burton is the President and Founder of the Chalker Group, a women-run firm that aids with the recruitment of bright talent for local businesses and organizations. By facilitating resources and ways to connect with our lovely city, Barbara has successfully curated meaningful experiences for candidates and their families.

We are lucky to know Barbara as a graduate of our Executive Class 17 (spanning 2019-2020) – their group were the pioneers of our online classes due to the COVID-19 Pandemic. Barbara’s community-orientation carries beyond her work. In addition to being recognized by Leadership Birmingham (2015) and Leadership Alabama (2016), she has been a board member for the Birmingham Botanical Gardens, the Rotary Club of Birmingham, and the UAB O’Neal Comprehensive Cancer Center.

Teresa Shufflebarger was recently appointed to be the VP and Chief Administrative Officer of Live HealthSmart at UAB. The platform aims to create statewide partnerships and initiatives with a mission of elevating Alabama out of the bottom ten for national health rankings. Teresa previously served as the System Vice President for Baptist Health System (between 2004 and 2015), and became the Chief Strategy Officer for Brookwood Baptist Health before embarking as Founder and CEO of Allegro Partners.


We are lucky to know Teresa as a member of our Executive Class 11 (spanning 2014-2015). She carries a wealth of passion and knowledge for improving health access, and we are excited to see the ways she continues to flour side as a healthcare leader in the Birmingham community.

 

Please join us in congratulating these women and their fellow mentors. To learn more about the event or see a catalog and bio about each mentor in the cohort please click here.

What Women Business Leaders Should Know About Taxes, Loans, & Grants

Katie Roth is a writer, artist, and entrepreneur. Originally from Alabama, she now resides in the UK with her husband and two dogs, and works with clients and other business owners in Europe and the USA.

Women in business still face too many hurdles, and unfortunately 2020 has only exacerbated them. Common issues like securing adequate funding or accessing much-needed resources have been complicated by the coronavirus. COVID-19 has brought about unprecedented challenges not just for women, but for the global business community. As we all learn how to manage our new reality in 2021 and look forward to a slow emergence from the grips of the virus, it is time for people to give real thought to how they might bring about new success in business once more.

It’s with that in mind that we’re looking at some important things Alabama’s women business leaders should know regarding taxes, loans, and grants.

Taxes

Regarding taxes for business leaders, there aren’t necessarily points to make that are specifically relevant to women. However, there are some simple reminders worth keeping in mind for anyone who is starting or attempting to grow a company.

The first reminder is that Alabama is considered to be a particularly favorable state when it comes to personal tax — which can free up some funds to manage business expenses. Just this year, an article ranking state income tax rates listed Alabama in a tie for 10th place (meaning 10th lowest), with a rate of 2-5%. Given that some states have personal income tax rates of 10% or more, it’s a good idea for women to consider launching businesses in Alabama. The slight but meaningful financial cushion allows for more business investment opportunities.

Additionally, registering as an LLC can compound the benefits you get from the favorable tax situation. LLC structure in Alabama is such that a business with this sort of official standing is actually not taxed as its own entity. Instead, owners simply pay income tax on what they make from the business. This means that rather than having a hefty, separate tax on business earnings, you can simply enjoy that same 2-5% rate on business-related income. That said, LLCs are subject to something known as a “business privilege tax,” which relates to the company’s net worth. Still, it’s worth running the numbers on the idea, because particularly for a newer or smaller businesses, the net benefit of the LLC structure can be significant.

Loans

Where loans are concerned, Alabama is again an appealing state for new, small businesses. Recent years have seen lenders give out nearly $1 billion in loans to small businesses— spread out over more than 50,000 individual arrangements. These numbers, given the size of the state and the number of people working in small businesses, justify the notion that Alabama has actually been one of the better states to secure a business loan.

As for specific loan funding for women-led businesses, we’d recommend keeping an eye on a Birmingham support program known as “Upward,” which was designed specifically to help women leaders in business — particularly now as we all look to move forward from COVID. It’s just the sort of resource that has become invaluable to such leaders in communities where women in business are seizing more opportunity — offering leadership coaching, help with goal setting, network support, and more.

Grants

In the grant department, there is more business aid to be found with specific regard to the coronavirus crisis. In July, we saw the announcement of the $100 million “Revive Alabama” grant, which was designed to help fund struggling small businesses. The $100 million was pulled out of $1.9 billion that Alabama received in total from the federal CARES Act, and it was made available to businesses earning less than $5 million annually and employing no more than 19 people. The hope is that additional grant packages of this sort will be made available to small business leaders once again if and when the federal government signs off on another relief package.

There are also some more accessible grants available. Most notable among these is the Amber Grant. Launched by WomensNet, this is a $10,000 grant given out to at least one woman in business each and every month. It also involves an additional $25,000 bonus given to a single “winner” at the end of each year. It’s an excellent example of what a program meant to stimulate innovation among women entrepreneurs can look like.

Funding a business and managing its finances is difficult, but for women in Alabama looking to endure the coronavirus and thrive in business thereafter, being aware of everything discussed above can amount to a helpful head start on the financial front.

Introducing Our First Podcast Guest

We’re less than a week away from our podcast launch, and we couldn’t be more excited. The most challenging part of creating the podcast was the editing. CEO April Benetollo and civil litigator Liz Huntley had such a rich discussion on the important topics of early childhood, race, and equity that we struggled to pare it down into a digestible podcast.

Huntley shares Momentum’s goals of equity and inclusion. “We’re always better when we’re at the table with diverse opinions, diverse views, diverse experiences, diverse demographics, because when we bring all of those together it lets us be the best we can be whether it’s a company or a law firm. My biggest advice is that there’s no stopping point. The Sky’s the Limit. Follow your Passion. Do what it is you want to do.”

Momentum is a longtime admirer of Huntley. We recently awarded her a Woman of Impact award at our Vision 2020 Conference in March. She received this award based on her commitment to not only her own work as an attorney, but also as CEO of a nonprofit, The Hope Institute, that works with schools to develop character education curriculum/programs. She shared her inspirational story in More Than a Birdand she continues to share her message and story across the country through her advocacy work.

Huntley has appreciated education since she was a child herself. She took comfort in reading and gained encouragement from her schoolteachers. In the books she read, she realized that people like Abraham Lincoln found their voice as a lawyer, and in this profession, they were able to make lasting changes. Her drive, along with her dedication, natural intellect, and hard work, propelled her to graduate as Valedictorian of Chilton County High School, earn a full ride to study political science at Auburn University, and graduate with a J.D. from the University of Alabama Law School, after serving as an editor for their Law and Psychology Review. 

As an advocate for children, she serves on multiple boards of directors and trustees for various nonprofits while running The Hope Institute. She believes community engagement is a powerful force. Being a game-changer is all about recognizing that moment in time where you have the ability to do something that’s really going to impact somebody’s life. It doesn’t have to be an isolated moment, although many times it can be. How you seek out those game-changing moments is through community service; that’s where they happen, in nonprofit organizations that serve families or children or whomever.” When she was a child, she participated in an early childhood education program, funded by a grant for her community, so she truly appreciates the lasting impact of programs she now offers through her organization. 

Interested in learning more about our other podcast guests? Click here to meet Myla Calhoun and Bobbie Knight.

Finding Financial Confidence

As COVID continues and stimulus checks remain unpredictable, it is more important than ever to find financial stability and security. DeLynn Zell, CEO of Bridgeworth Financial, gave a detailed presentation last month on how to control personal finances during the COVID crisis. Some of her suggestions include creating a budget, establishing savings, and making a financial plan. 

Unfortunately, women have historically earned less than men. “Women are three times as likely as men to say they can’t afford to save for retirement and have significantly lower rates of financial literacy. Women also make up the majority of caregivers, and are three times more likely than men to quit their jobs to care for a family member.” Despite men spending more time working from home, women are still bearing the brunt of the labor. According to Forbes, mother’s work hours fell four times as much as father’s in April, widening the already existing gender gap. Most men worked the same amount of hours, but women were expected to take on additional caregiving and homeschooling responsibilities. The future remains uncertain, but women across the country are finding unique ways to support each other. 

Here are some ways women are gaining strength:

  1. Being vulnerable. “Talking about and sharing more stories about the success of women who took chances, made missteps and still ended up on top are vital to helping more women go after their dreams and not be so focused on seeking perfection,” said Sarah Kauss, Founder & CEO of S’Well. Mentoring relationships are a great way to swap stories and bring encouragement.
  2. Improving emotional intelligence. According to the US Senate Committee on Small Business & Entrepreneurship, “Investors ask men about opportunity and the potential for gains while women are questioned about the potential for losses.” Reframing challenges and gaining confidence can help narrow the gap. Jean Ann Larson, Chief Leadership Development Officer at UAB, gave an insightful presentation on the role of emotions in the workplace.
  3. Speaking up. “College-educated women make about 90% as much as men at age 25, but only 55% as much at age 45.” Of Momentum’s Alumni, 79% agreed or strongly agreed that Momentum had a positive influence on their attitude to negotiate in the workplace. Delphine Carter, Founder of Boulo Solutions, works every day to help women find new careers. Her advice on achieving professional goals is for women to proudly share their accomplishments in a comfortable way, allow themselves to be whomever they want and, as importantly, learn to support each other on that journey.

Petite Can Mean Powerful

Deborah Boswell, long-time President of Professional Speech Services of Alabama, spoke at last week’s Intentional Tuesdays event about the power of your voice. As a woman who measures over five feet tall on a good day, I was ready for this presentation with my trusty pen to take notes. Deborah mentioned some key takeaways that you probably haven’t heard before. Here’s the rundown:

  • Focus on your breath. You don’t have to scream to be loud! Try to talk from your diaphragm instead of your throat or chest to command the room.
  • When you’re nervous, you probably have shallow breath. Take some deep inhales and exhales before a presentation. Personally, I listen to a Lizzo song or some words of encouragement from Brene Brown. You can view some more mindfulness resources here.
  • First impressions count. Think about your posture and what you’re wearing. I have been moved mid-presentation because multiple people thought I was breaking out in hives. Turns out, I was just nervous, so now I wear a turtleneck.
  • Be concise. No one likes a long meeting that could have been summed up in a quick email. Executives don’t have a lot of time on their hands, and the average person’s attention span, according to research by Microsoft, is shorter than eight seconds. That’s less than a goldfish.
  • BLUF. Don’t bluff, but keep the Bottom Line Up Front. Capture their attention at the beginning so they stay with you for important information.
  • Conjunction junction, what’s your function? Diluting clarity, according to Deborah. Break up your sentences.
  • If you are the expert, behave like the expert! Stay confident; you’ve got this.

Wish you hadn’t missed Deborah’s presentation? Want to watch it again? Check out our new Youtube channel for her presentation and others!