According to a recent study conducted by Dow Jones, only 1.3 percent of privately held companies have a female founder, but thanks to Expert Heavy Equipment (EHE) Owner Milissa Wise, female entrepreneurs will now be able to get the personal mentorship in an effort to break those glass ceilings.
Wise, who is also Director of Operations for EHE, the parent company of EHE Auctions, said she will soon participate in a program to mentor female entrepreneurs in an effort to give back.
Wise explained that her intention is to reach out specifically to the Women Veteran Entrepreneur Corps to offer her experience and support.
According to the Small Business Administration (SBA), less than 4 percent of veteran owned businesses are owned by females. In addition, the Census Bureau reports that there are less than 9 percent women in the heavy construction equipment industry.
“Mentorship is key,” Wise said. “It is imperative that you set your best foot forward so that it is truly beneficial to the young female entrepreneur.”
Wise helped lead EHE to breaking the barrier of reaching more than $3 million in sales within the first eighteen months of formation.
The company’s number one priority is to provide the used heavy equipment at the absolute best pricing to ensure it maintains a high level of customer service and customer loyalty.
Wise’ participation in the mentorship program could prove to have perfect timing.
According to the U.S. Department of Commerce, women-owned firms have an economic impact of $3 trillion annually, which translates into the creation and/or maintenance of more than 23 million jobs.
Wise, whose company receives 95 percent of its business from referrals and loyal repeat customers, pointed out that she will vet non-profits to determine which share her similar leadership principles.
EHE’s success, according to historical data, defies odds.
Wise stressed that she is determined to help other female entrepreneurs experience success by giving of herself to mentor those who need it most.
As to why she’s giving of herself, Wise noted that the share of business ownership by female veterans, according to the SBA, is lower than in the overall population, but it is growing.
“Being a female in male dominated industries can be challenging, so you simply have to rise to the occasion,” Wise said. “You must believe in yourself. You must combine passion with preparation. Know your market, know your customer and identify the need.”
