Fri, June 26, 2009 - 8:08:52

Micro Loans have Macro Effects

image courtesy of Project Concern International

As the founders of a small business that became a billion dollar advertising agency, we know firsthand the tremendous amount of hard work and focus it takes to become a successful entrepreneur.  As we explain in our book, THE POWER OF SMALL: Why Little Things Make All the Difference, some of the biggest success stories came out of the smallest ideas.  From the wrinkly-faced bulldog that inspired a multi-million dollar gift line, to the DIY mom who sold her concept for a trendy shoe decoration for a massive sum, starting small has been the key for countless women entrepreneurs around the world to achieve BIG.

That’s why we were particularly touched by yesterday’s article in The New York Times, which reported how disadvantaged people around the world are changing their lives with the help of microloans.  These tiny monetary loans given out in order to help people of developing nations create their own sources of income are nothing new, but now combined with brief educational courses on economic basics, they are helping to change lives more than ever before.
As we delved deeper into the article, we discovered the inspiring story of a woman in India, which poignantly reminded us again of the amazing power that “small” can bring to our lives. 
Trapped in an abusive marriage, the woman that The New York Times describes had been so brutalized over the years that she lacked the confidence to simply make eye contact with another person.  After the New Jersey based non-profit organization, I Change, persuaded her to enroll in a short entrepreneurship course, she gained the courage not only to open her own grocery store, but to leave her husband once and for all.  What’s more, emboldened by her newfound independence and financial success, she filed suit against her former abuser, obtaining child-support for her son and the return of her dowry.  Today, I Change reports, the woman is not only reaping the rewards of owning her own business, she has set her sights on pursuing a law degree to help other women break free from the kind of life she once lived.

It all began with a tiny loan and a short class and it’s a true testament to the undeniable power of small.  Once trapped in a seemingly hopeless situation, the woman from India was given a fresh start by boldly stepping into her future, one foot at a time.
And if she could do it, just imagine what you can do.  No matter how difficult your obstacles may appear, you, too, can overcome them.  The ascent may be arduous, but just keep climbing.

Posted by Linda and Robin