The Million-Dollar Key for Women Entrepreneurs is Mentorship
7/7/2025 12:19:41 PM
Every day, over 1,800 women launch new businesses in the U.S., fueled by passion, purpose, and a drive to solve real-world problems. Yet, despite this entrepreneurial surge, only 1.9% of women-owned businesses reach the $1 million revenue mark, compared to 5.4% of their male counterparts.
Why the significant gap? The answer often lies in four persistent challenges: access to capital, self-doubt, limited networks, and most critically, lack of mentorship.
Why Mentorship is a Game-Changer for Business Growth
Mentorship is far more than just advice. It's a strategic partnership that empowers women entrepreneurs to navigate the complexities of business ownership, from scaling operations to securing vital funding and building unwavering confidence. A strong mentor can directly help overcome the other three barriers: they can connect you to crucial capital, significantly expand your professional network, and help you truly believe in your vision and capabilities.
While professional mentorship can average $9,600 a year, the good news is that you don't have to break the bank to access this invaluable guidance.
Where to Find Free Mentorship for Women Entrepreneurs
Here are four no-cost resources every woman entrepreneur should consider:
SCORE: (Service Corps of Retired Executives)
When you connect with SCORE, experienced retired professionals provide personalized advice and counseling tailored to your specific needs, whether you're just starting a business or aiming to grow it well beyond the one-million-dollar mark.
Contact them today: Free Small Business Mentorship and Resources | SCORE
WCEC: (Women’s Center for Entrepreneurship)
WCEC offers comprehensive mentorship courses on topics ranging from starting a business to obtaining financing and grants. Additionally, their annual pitch program offers a fantastic opportunity to showcase your business at an annual event, with winners receiving grants to help launch and scale their ventures.
Contact them today: WCEC – Empowering, Educating, Embracing Women Entrepreneurs
UCEDC: (UC Economic Development Corporation)
This impactful nonprofit provides one-on-one mentorship, various workshops, and seminars designed to enhance financial literacy, enabling businesses to keep pace with the changing economic landscape. They also offer loans and expert guidance on how to navigate government contracts.
Contact them today: UCEDC - Non-profit Economic Development Corporation
Kearny Bank ChangeMakers Program
This program is dedicated to supporting local women business owners by providing them with the financial products and expertise of our Kearny Bank ChangeMakers ambassadors. Our ambassadors can assist in growing your business by guiding you through various solutions, such as our treasury management products, and connecting you with valuable professional contacts. We are committed to helping your business thrive.
Contact us today: Kearny Bank ChangeMakers | Women in Business Program | Kearny Bank
Your Path to a Million-Dollar Business Starts Now
If you are a woman business owner dreaming of hitting that million-dollar milestone, mentorship isn’t a luxury; it’s an absolute necessity. Thanks to these incredible programs, it’s also accessible and free.
Are you ready to grow your business with the guidance of someone who has already navigated the path to success? The resources are here. The time is now.
Your small business makes our communities prosper, and our mission is to help you get you over $1 million!
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Veronica Ross
Veronica Ross is a Senior Vice President and the Director of Engagement at Kearny Bank. In this role, she works closely with all departments to help improve employee satisfaction, morale, and performance within the organization. She also leads our women in business program, Kearny Bank ChangeMakers, providing educational resources, support, and networking opportunities to help ensure the growth and success of women-owned businesses.
Veronica is a financial professional with over 30 years of experience. She has been with Kearny Bank for the past 8 years, she most recently led the Treasury Management team. Prior to joining Kearny, she spent 25 years in various retail management roles at a variety of financial institutions.
Veronica feels strongly about giving back to the community. She actively supports and volunteers her time at St. John the Baptist Church in Hillsdale, the Girl Scouts of Northern New Jersey and on the steering committee for the Executive Women of New Jersey and NCJW of Essex County Back 2 School. She has served as a Board member and volunteer for GSNNJ.