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      • In the United States 40 percent of women are the primary or sole breadwinners.

      • In the United States 70 percent of women with children under the age of eighteen participate in the labor force.

      • The global incomes of women are predicted to reach $18 trillion by 2018. Women will control close to 75 percent of discretionary spending around the world.

      • Women control 85 percent of all purchasing decisions in the United States.

      In terms of business, in 2012 the Global Entrepreneurship Monitor estimated that 126 million women were starting or running new businesses in sixty-seven world economies. In addition, an estimated 98 million women were running established businesses (for three years or more). In Canada 15 percent of small to medium businesses are owned by women.

      Forbes magazine refers to entrepreneurship as the new “Women’s Movement.” Since 2007 there has been a rise in women-owned businesses in the Unites States, with 1,072 (net) new women-owned firms launched each day. Between 2007 and 2016 women-owned firms increased by 45 percent, five times the national average. Many women are leaving their corporate jobs to experience greater freedom and flexibility, to find a more meaningful way to make a difference, and to take control of their income and livelihoods.

      According to a 2016 State of Women-Owned Businesses Report, commissioned by American Express OPEN, there are 11.3 million women-owned businesses in the United States, employing close to 9 million people and generating more than $1.6 trillion in revenues.

      These figures will continue to grow, owing to a partnership between the governments of Canada and the United States, resulting in the creation of a joint Council for Advancement of Women Entrepreneurs and Business Leaders. The purpose of the initiative is to support women’s economic growth by helping to remove barriers to competitiveness for women entrepreneurs as well as to address issues facing women in the workforce, including those faced by senior leaders. This means that women entrepreneurs will have greater access to networks, capital, and markets in starting and growing successful businesses.

      There is much to celebrate with these positive advancements. At the same time, there is also much room for improvement. Despite women comprising half the world’s population, and representing the largest growing market, they still remain an untapped power. This is particularly the case in four key areas: earnings, leadership, politics, and business income.

      In the area of earnings, the wage gap continues to exist:

      • On a global average, women earn 77 cents for every dollar men earn.

      • In Canada women earn 87 cents for every dollar men earn.

      • In the United Kingdom women earn 9.4 percent less than men.

      • In the United States women earn 79 cents for every dollar men earn.

      In the area of leadership, a 2017 report by Fortune Knowledge Group, in collaboration with Royal Bank of Canada, states that only 4.2 percent of women hold CEO positions in Fortune 500 companies and 9 percent globally.

      The reality of these figures contradicts years of research indicating that companies that are engaged in gender diversity and that have women in leadership roles are 15 percent more likely to experience higher financial performance. In the same report, more than 7,500 senior management positions in Fortune 500 companies were identified in 2016, of which 19 percent were held by women.

      On corporate boards:

      • Globally women held 14.7 percent of board seats in 2015. Only 20 percent of boards have at least three women.

      • European countries such as Norway (46.7 percent), France (34 percent), and Sweden (33.6 percent) are leading the way in having the highest percentage of women on their boards.

      • Countries with the lowest percentage of women on boards include Taiwan (4.5 percent), South Korea (4.1 percent), and Japan (3.5 percent).

      • The percentage of women on corporate boards in the United States is 19.9 percent and 21.6 percent in Canada.

      • While the percentages are higher in Europe, women in general are far less likely to lead boards or board committees.

      • In the political sphere, as of 2016, globally only one in five people elected to office were women.

      • In early 2017 there were ten women serving as heads of state and nine as heads of government around the world.

      • In the United States 19 percent of the House of Representatives and 21 percent of the Senate members are women.

      • In Canada 26 percent of the House of Commons and 43 percent of the Senate members are women.

      • In the United Kingdom 29 percent of the members of Parliament and 26 percent of members in the House of Lords are women.

      In the area of entrepreneurship, globally women continue to face various challenges to their success, including limited access to funding, lack of available mentors and role models, an imbalanced share of family work, and a lack of self-confidence. In fact, according to the Kauffman Foundation, nearly 80 percent of women in the tech industry in the United States use personal savings for capital because of limited access.

      While the number of female-owned businesses in the United States is growing five times faster than the national average, these businesses are contributing only 4 percent of the nation’s business revenues — a share that has not changed during the past twenty years. And despite generating $1.6 trillion in revenues in 2016, 7.9 percent of women generated between $100,000 and $500,000, while only 3.3 percent of women-owned businesses generated more than $500,000 in revenues.

      What Holds Women Back?

      This brief snapshot provides an opportunity to get to the root of what holds women back. Working with my clients, I have identified several reasons that women may not be doing as well as they could be. For one, often their self-confidence does not match their skill level. Despite their talents, accomplishments, and expertise, many women still question whether they are truly good enough, smart enough, and worthy enough to succeed and prosper financially.

      In fact, I have witnessed that regardless of age, educational background, and income level, many women privately struggle with valuing themselves and their worth. This in turn can impact their ability to succeed or grow their business or advance in their career. As Sheryl Sandberg has so famously claimed, women hesitate to “lean in.” I have witnessed that women experience a disconnection between:

      • what they’ve accomplished and their level of self-confidence.

      • what they really want and what they settle for.

      • valuing what they do and valuing their self-worth.

      • the determination they show on the outside and the fear and doubt they feel about themselves on the inside.

      In my work I encounter many accomplished, talented, and motivated women who are visionary change makers. They want to make a significant contribution to the world and be richly rewarded for the value they provide through their life’s work. Deep inside, these ambitious and goal-oriented women want to make a sizable income, make a large impact, and achieve outstanding success. This is inspiring and admirable.

      However, what many women actually experience is the opposite. Thus, high-achieving women at various income levels and stages in their business or career seek my help because they want to develop money mastery to achieve success and fulfillment on their own terms. They want to own their fullest worth and express their brilliance. They also want income growth. They are frustrated with their earnings when they do not match the bigger vision they have of their potential. Their income also does not allow them to fund their dreams and social mission or the legacy they want to leave behind.

      Some of the challenges these women face include:

      • struggling to break through to the next level of income and success.

      • feeling anxious about not being able to achieve and exceed their past success,

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