One of the most fascinating seminars I hosted in Ithaca years ago was on investments. The presenter asked, “With proceeds from your business, do you reinvest the money into your business or your future with retirement planning?” Every woman in the room listened intently since the question was important.
As a relatively new company then, I invested any profits back into Women TIES to keep growing it regionally and increase membership, thus increasing the number of women doing business with each other across the state. I barely put any money into my SEP plan because keeping my business viable and successful was the priority.
Jacqueline Fergerson, Owner of Cortland Eye Center and Topline Farms
One of my favorite women entrepreneurs in the Cortland/Ithaca area not only hires all females in every position at her company but also invests her income into the community—another type of investment. Because of her love for horses and horseback riding, she built a state-of-the-art new equestrian facility from the ground up in Preble, NY, to provide the best experience for horses and their owners.
Topline Farm is owned by my personal Ophthalmologist Jacqueline Fergerson, Owner of Cortland Eye Center. I started driving from Syracuse to Cortland to have Jackie as my eye care provider because of her feminist business model of hiring all female employees and because she is excellent at what she does. On top of that, she is the most professional and pleasurable woman I know in business today. I can easily say, “I love my eye appointments.”
At my last visit, we shared stories of Jackie’s recent trip to Alaska, my granddaughter’s birth, her manager Kim’s love to bring her granddaughters to see Taylor Swift and her new horse business. All of this is on top of a thorough exam and pleasant staff. I wasn’t surprised to discover Jackie opened Topline Farm to bring another excellent business to the Greater Cortland community.
Today’s Wednesday Wisdom is not meant to get you riding a horse (although you should try it), but rather to have you think about where you spend your company’s profits. Do you invest it back into growing your business? Maybe you are smart and invest it in your retirement. Or do you put money back into your community with sponsorship support or building a second business?
Whatever you decide to do with your company’s extra earnings ensure you have a goal, plan, and support to make it happen. And maybe, like Jackie, you’ll create something special that resonates with another one of your passions while bringing an additional bonus to your community.
Women TIES 