NEW YORK — Entrepreneur, author and speaker Julia Pimsleur is a success in her own right. Her mission now? Helping other female entrepreneurs achieve the same.
“Our goal is to get 1 million women to get to $1 million in revenues,” she explained to PIX11’s Tamsen Fadal.
Pimsleur said that although women-owned businesses represent 40% of the marketplace, very few of those ever reach $1 million in revenue. Fewer than 3% of female entrepreneurs hit the $1 million mark. For women of color, that figure drops to below 1%.
It’s a struggle Pimsleur understands well, having been through it herself years ago. While on maternity leave after the birth of her first son, she didn’t slow down — instead, she used the time to create a new business venture.
After four years of difficulty, she almost shut down the business, a language learning program for children called Little Pim. But after sticking to it, raising funds and learning some new business skills, she found herself with a multi-million-dollar company. And with that success came a crucial revelation.
“I had a whole new problem, which was that all the women disappeared from the room,” she said. “It was all men. It turns out very few women have ever built a multi-million-dollar business.”
In addition to coaching female entrepreneurs across the county and hosting summits through her social venture “Million Dollar Women,” she’s also written books to spread her business wisdom. Her latest book, “Go Big Now,” focuses on having a powerful mindset and being bold.
She said having a powerful and resilient mindset is especially important in the wake of the COVID-19 pandemic.
“So many people have suffered professionally during the pandemic, but women have been disproportionally affected, especially women of color,” Pimsleur told PIX11. “If anyone is thinking of reinventing, now is the perfect time.”