I have been a business owner since 2001. If you are woman business owner, this is your year, this is your time to get serious about local, state and federal prime and sub-contracting opportunities. If you live near a major urban area, first look into certification within the nearest city.
For example, I live just north of Houston, so because I live in an adjoining county, Montgomery, my business is eligible to apply for certification with the City of Houston. The application did take time, but it was worth it. My company is certified Woman-owned and Disadvantage Business Enterprise. The certification acronym is W/DBE. The City offers certification for women and minority business owners.
The City has agreements with several other municipal-based organizations, so in addition to being able to bid on set-aside contracts at the City, I can also bid on Port Authority of Houston, and METRO. The City has agreements with the Texas Unified Certification Program, so my company is also recognized with the state level - Texas Department of Transportation.
Note: Another perk for women business owners who are TXDOT DBE certified in highway construction codes can qualify for up to $10K in training through the TXDOT Technical Assistance Program (TXDOT TAP). I challenge you to find the local contracting agency and start your application asap.
At the state level, Texas offers a program called Texas HUB - Historically Underutilized Businesses. This is currently available to women and minority business owners, but in 2011 they are considering opening it up to Service Disabled Veterans as well. Check out if your state offers a special certification for women business owners.
And now at the federal level, there are two SBA programs to consider applying to: Women Owned Small Business (WOSB) and the SBA 8(a) program. If your business is currently certified as a SBA 8(a) business, you will be eligible for the new WOSB certification as well. Check out both of these programs at the SBA government website. Expect to wait about 90 days (at the least) to hear back from the SBA on 8(a) certification, there is a back log ever since all of the new federal programs opened up with the new administration.
As a SBA certified business, you are eligible to bid on big dollar contracts. However you will most likely find a niche to work as a subcontractor to a prime, because you need to build a track record of federal work. And of course, the primes are looking for good subcontractors because they get incentives from the government to include small business participation.
Showing posts with label woman business owner. Show all posts
Showing posts with label woman business owner. Show all posts
Increase Sales Tip - Form an Alliance with a Woman Business Owner
Women Business Owners are an ever growing and dynamic force. Did you know that profit under women owned firms grew at a faster rate than all other firms?
Maybe you were not aware that women controlled or owned 40% of all privately held U.S. firms and these women owned businesses grew at twice the rate of other business during the last 10 years?
So if you want to increase sales, then forming an alliance with a woman business owner makes a lot of sense. However, the alliance needs to be strategic.
Strategy has a Latin origin and means to out think the enemy. So, you should begin with your strategic plan and look specifically to your vision, values and current mission.
Then, review your marketing plan and sales plan. Look to your demographics, geographic and psycho graphics. Think about complementary businesses as well as those that you might even consider competitors.
If this is the right strategy for you, then how do you find the right woman owned business? Many states have women business owned certifications. By visiting the state website, you may be able to locate woman owned businesses. Certification suggests that the company is for real and has been evaluated on some level.
If that strategy is not viable, then look through local chambers of commerce directors and identify the owner. In many cases, you can quickly determine ownership of the business. Make an outreach to these women business owners again based on your strategic plan.
At networking events, move out of our comfort zone and talk to women to learn if they are business owners. Show an authentic interest in what they are doing. If there is a connection, suggest meeting over a cup of coffee to learn more about each other's businesses and how the two of you can help each other.
Additionally, linking with permission of course to a woman business owner's website is another strategy. This linking works well especially if it is reciprocal.
What ever strategy or strategies you select, forming a strategic alliance with a woman in business may just help you increase sales. And how knows, you may actually begin to see increases in some other business indicators such as profits and longevity.
Maybe you were not aware that women controlled or owned 40% of all privately held U.S. firms and these women owned businesses grew at twice the rate of other business during the last 10 years?
So if you want to increase sales, then forming an alliance with a woman business owner makes a lot of sense. However, the alliance needs to be strategic.
Strategy has a Latin origin and means to out think the enemy. So, you should begin with your strategic plan and look specifically to your vision, values and current mission.
Then, review your marketing plan and sales plan. Look to your demographics, geographic and psycho graphics. Think about complementary businesses as well as those that you might even consider competitors.
If this is the right strategy for you, then how do you find the right woman owned business? Many states have women business owned certifications. By visiting the state website, you may be able to locate woman owned businesses. Certification suggests that the company is for real and has been evaluated on some level.
If that strategy is not viable, then look through local chambers of commerce directors and identify the owner. In many cases, you can quickly determine ownership of the business. Make an outreach to these women business owners again based on your strategic plan.
At networking events, move out of our comfort zone and talk to women to learn if they are business owners. Show an authentic interest in what they are doing. If there is a connection, suggest meeting over a cup of coffee to learn more about each other's businesses and how the two of you can help each other.
Additionally, linking with permission of course to a woman business owner's website is another strategy. This linking works well especially if it is reciprocal.
What ever strategy or strategies you select, forming a strategic alliance with a woman in business may just help you increase sales. And how knows, you may actually begin to see increases in some other business indicators such as profits and longevity.
The Instincts of a Woman Business Owner - Four Tips to Tap Into YourSecret "Intuition" Weapon
For a woman business owner, much of running a business can be based on intuition. Without using some of these innate skills, a woman business owner can find her job much more challenging. Many of these essential abilities, the so-called women's intuition, can be an advantage for female leaders.
There's a difference between a woman business owner using her intuition and taking unnecessary risks. When evaluating a business, it is important not to think of risk taking or intuition as a single event. After all, taking chances is a process that should never end for a woman business owner who's interested in growth and success. A good way of thinking about this strategy is to compare yourself to an athlete. What is necessary in order for you to compete and reduce the risk of failing by using your intuition?
First, practice putting your intuition to good use. A woman business owner needs to practice in order to hone her skills. Doing so repeatedly will not only enable learning but build confidence, as improvements come with each attempt. The 26.2 mile running marathon as well as the business "success" marathon both require taking risks, pushing yourself and practicing until you have the stamina and confidence to finish "the race."
Secondly, intuition in a vacuum will not work. A woman business owner needs to get input from others. However, this can be difficult for she is often spending most of her time working on where she wants the business to go and not enough time bringing people along with her. Remembering to ensure that everyone is with you in the present will help avoid some of the possible problems in the future. Get the right input in order to make the right decisions about your intuitions.
Thirdly, you need to view your intuition in the proper perspective. When you have a moment, step back and look at the whole picture. Ask yourself as a woman business owner, what you want your business to look like. What is going to help you get there? What's keeping you from getting to the next level? What does your intuition tell you? Does it seem right? Feel right in your gut? Once you have figured out, go after it.
Fourthly while having a rough idea about plans for the future, looking for new ideas needs to be a constant, never-ending process and a vital part of your business. Business is not static. A woman business owner needs to continually look ahead. What does your intuition tell you about the next 2-3 years? What new ideas or offerings should you be considering. Using your intuition to balance new ideas in the context of your business strategy will lead to the most positive results.
Many women naturally have some of these instincts that put to use can help their businesses. However, they can be cultivated just like any other skills. You have used your intuition to get to where you are so you have proof that it works for you. Now you just need to practice using it, get feedback on how it might impact your business, put it in the proper perspective and leverage it to continually bring in and evaluate new ideas.
There's a difference between a woman business owner using her intuition and taking unnecessary risks. When evaluating a business, it is important not to think of risk taking or intuition as a single event. After all, taking chances is a process that should never end for a woman business owner who's interested in growth and success. A good way of thinking about this strategy is to compare yourself to an athlete. What is necessary in order for you to compete and reduce the risk of failing by using your intuition?
First, practice putting your intuition to good use. A woman business owner needs to practice in order to hone her skills. Doing so repeatedly will not only enable learning but build confidence, as improvements come with each attempt. The 26.2 mile running marathon as well as the business "success" marathon both require taking risks, pushing yourself and practicing until you have the stamina and confidence to finish "the race."
Secondly, intuition in a vacuum will not work. A woman business owner needs to get input from others. However, this can be difficult for she is often spending most of her time working on where she wants the business to go and not enough time bringing people along with her. Remembering to ensure that everyone is with you in the present will help avoid some of the possible problems in the future. Get the right input in order to make the right decisions about your intuitions.
Thirdly, you need to view your intuition in the proper perspective. When you have a moment, step back and look at the whole picture. Ask yourself as a woman business owner, what you want your business to look like. What is going to help you get there? What's keeping you from getting to the next level? What does your intuition tell you? Does it seem right? Feel right in your gut? Once you have figured out, go after it.
Fourthly while having a rough idea about plans for the future, looking for new ideas needs to be a constant, never-ending process and a vital part of your business. Business is not static. A woman business owner needs to continually look ahead. What does your intuition tell you about the next 2-3 years? What new ideas or offerings should you be considering. Using your intuition to balance new ideas in the context of your business strategy will lead to the most positive results.
Many women naturally have some of these instincts that put to use can help their businesses. However, they can be cultivated just like any other skills. You have used your intuition to get to where you are so you have proof that it works for you. Now you just need to practice using it, get feedback on how it might impact your business, put it in the proper perspective and leverage it to continually bring in and evaluate new ideas.
Small Business Marketing - Three Tips To Infuse More Style Into Your Marketing Strategies
"The Bold and the Beautiful" isn't just the name of a daytime television show. It also describes how you must put your personality to work if you want to grow your business into six and seven figures.
Take a look at the superstar women entrepreneurs in your industry and you'll see what I mean. They aren't wall flowers when it comes to flaunting their quirky personalities' strengths in their marketing strategies.
In fact, these women entrepreneurs have cleverly discovered that by shining a spotlight on their innate characteristics they put their business in the spotlight...and reap the rewards.
So how does the woman business owner know which parts of her complex personality will help create winning impact marketing? What if she chooses the wrong parts and ends up looking foolish?
That's where the Branding with Archetypes(TM) system comes in. Once you have discovered your business archetype (which a Branding with Archetypes ten-minute assessment helps you easily do) you start to see how traits you've possessed all along are now an important part of your marketing strategies.
Let's look at woman business owner, Helen, for example. Before Branding with Archetypes, Helen knew she had a quirky sense of humor and a cheerfully contrary way of looking at things. But she thought those traits were faults that needed to be hidden away in favor of being "business like."
Sure, right...uh huh...
Problem was that by hiding away her authentic nature, Helen was also hiding her gifts, talents and the opportunity to build a money-and-soul-style business. In short, she was hiding away a vital part of her soul.
Her business was practically nonexistent. (No wonder, since if SHE wasn't showing up in her business, how could she expect her clients to?!)
Helen wasn't surprised to discover that her archetype was the Wise Jester. After learning this she realized she had a talent for writing marketing copy that was infused with humor and that created a sense of camaraderie with her reader.
Not long after these discoveries she started her web-based copy writing business, dubbing it Cracker Jack Websites. (Now, doesn't that name say "Get it done and make it fun!" to you?!)
Helen specializes in soft-topic copy writing preferred by coaches, holistic practitioners and other from-the-heart business owners. Her business is booming and she's having fun. Her clients are relieved to find someone who can write from the heart without being hard sell.
Even if you don't know which archetype you are in your business, you can start to infuse more personality and style into your marketing strategies. Here are three simple tips to get started now:
#1. What part of your personality do you most often try to hide?
Quirky sense of humor? Maybe your love of risky sports like hang-gliding over mountain peaks? Or you're known for being bold and ahead of the pack. Or perhaps you secretly channel spirit guides but fear your corporate clients will find out.
Whatever personality trait you possess that got you in trouble when you were a kid in school is probably precisely the one that needs to show up as a key branding component in your impact marketing.
#2. Brainstorm a list of words and phrases that represent that personality trait.
Remember, "tame is lame" so go for words and phrases that may feel outlandish or outrageous.
#3. Cut loose and let your personality show in your next email, newsletter, web page sales letter or flyer.
Now, now, don't gulp. This is actually pretty easy once you give yourself permission to cut loose a little. A little goes a long way so you won't have to do too much to have your personality really stand out.
The basics of marketing a small business are pretty simple to figure out but it takes a bold and beautiful soul to reach deep within and let the innermost being speak through in her marketing!
Women in Business Often Say - "But I'm Not a Sales Person"
In my work with women entrepreneurs, I often hear "But I'm not a sales person." This conversation generally comes up as we discuss how, as a successful woman business owner, it is important to focus on moneymaking activities. Trust me, selling your service or product is a moneymaking activity!
Here's the bottom line: We're all sales people. Everyday we're selling something to someone - an idea, a point of view, a product, a service, an opportunity, etc. If you, as a business owner, do not sell what your company is offering, you'll be out of business. A successful business is a moneymaking entity and if you're not making money, you probably won't be in business too long.
Is it time to stop saying, "I'm not a sales person" and begin making more money? Focus on the benefits of what your service or product can do for your customer - how your service or product can make their life easier, better or happier. The key is to totally believe in yourself and what you are offering - belief can overcome many obstacles.
If you're hesitant to "sell" what your business is offering, what is the hesitation? What are your values and beliefs about "sales?"
1. What is your definition of a sales person?
2. What positive things can you write about sales?
3. What negative things can you write about sales?
Take a minute and study your answers.
* Do you see yourself taking on the negative characteristics of "sales" when you present your service or product to others?
* How can you incorporate more of the positive characteristics of "sales" into how you are currently offering your service or product to others?
* How many ways can you mentally and emotionally change any negative perceptions of "sales people" into more positive ones?
With a strong belief in yourself, your service or product and a powerful commitment to the success of your business, you will be more willing to "share" with others.
Remember, it's not about you but about your customers. When you come from a place of giving benefit and value, you will eagerly begin sharing your services and products. Focus on the benefits of what you are offering and you'll want to tell everyone about your business and fabulous products!
I'm Sharon Michaels and my business is dedicated to empowering and coaching women in business. I show women entrepreneurs how to build a financially successful business by empowering themselves and enhancing their business-building skills.
Here's the bottom line: We're all sales people. Everyday we're selling something to someone - an idea, a point of view, a product, a service, an opportunity, etc. If you, as a business owner, do not sell what your company is offering, you'll be out of business. A successful business is a moneymaking entity and if you're not making money, you probably won't be in business too long.
Is it time to stop saying, "I'm not a sales person" and begin making more money? Focus on the benefits of what your service or product can do for your customer - how your service or product can make their life easier, better or happier. The key is to totally believe in yourself and what you are offering - belief can overcome many obstacles.
If you're hesitant to "sell" what your business is offering, what is the hesitation? What are your values and beliefs about "sales?"
1. What is your definition of a sales person?
2. What positive things can you write about sales?
3. What negative things can you write about sales?
Take a minute and study your answers.
* Do you see yourself taking on the negative characteristics of "sales" when you present your service or product to others?
* How can you incorporate more of the positive characteristics of "sales" into how you are currently offering your service or product to others?
* How many ways can you mentally and emotionally change any negative perceptions of "sales people" into more positive ones?
With a strong belief in yourself, your service or product and a powerful commitment to the success of your business, you will be more willing to "share" with others.
Remember, it's not about you but about your customers. When you come from a place of giving benefit and value, you will eagerly begin sharing your services and products. Focus on the benefits of what you are offering and you'll want to tell everyone about your business and fabulous products!
I'm Sharon Michaels and my business is dedicated to empowering and coaching women in business. I show women entrepreneurs how to build a financially successful business by empowering themselves and enhancing their business-building skills.
Hiring Help: Two Entrepreneurs Find the Right Assistant
When a woman business owner makes the decision to hire help, hiring an assistant is an excellent first step in building a team. Even if an entrepreneur doesn't feel ready to create a team immediately, the right assistant eventually can serve as the link between the business owner and the team in the future. Selecting an assistant who meets an entrepreneur's specific needs (both immediate and future needs) is absolutely essential in forming a relationship that will set the foundation for a strong team later one.
A recent study reveals there are five distinct types of women in business. Based on professional market research of more than 3,500 women in business, this study shows that each type of business owner has a unique approach to running a business and therefore each one has a unique combination of needs. This article outlines two of the five types and provides tips for each one to consider when hiring an assistant.
Jane Dough is an entrepreneur who enjoys running her business and generally, she makes a nice living. She is comfortable and determined in buying and selling, which may be why she's five times more likely than the average female business owner to hit the million dollar mark. Jane Dough is clear in her priorities and may be intentionally and actively growing an asset-based or legacy business. It is estimated that 18% of women entrepreneurs fall in the category of Jane Dough.
Because Jane Dough often delegates almost too much and then moves quickly on to her next strategizing session, she needs an assistant who will ask questions when necessary and who will be able to command Jane Dough's attention and then communicate quickly and efficiently once she has it. Jane Dough business owners tend to be so focused on growth and strategy that they don't communicate their vision. Therefore, team members often feel disconnected. An assistant can act as the liaison between Jane Dough and the rest of the team.
Professional skills and experience Jane Dough should look for: managerial skills, effective communication skills, multi-tasking, organization.
Personality traits Jane Dough should look for: confidence, an outgoing nature, a can-do attitude, a thick skin, autonomy, flexibility.
Go Jane Go is passionate about her work and provides excellent service, so she has plenty of clients - so much so, she's struggling to keep up with demand. She may be a classic overachiever, taking on volunteer opportunities as well, because she's eager to make an impact on the world and she often struggles to say no. Because she wants to say yes to so many people, she may even be in denial about how many hours she actually works during the course of a week. As a result, she may be running herself ragged and feeling guilty about neglecting herself and others who are important to her.
Go Jane Go business owners often find delegating difficult because they worry that no one else will live up to their own high standards. Therefore, they must hire helpers who are detail-oriented and who strive for perfection like she does, and who will find creative ways to encourage Go Jane Go to delegate to him or her. Also, Go Jane Go values her relationships with customers so much that she sometimes goes above and beyond what is reasonable, stretching her personal and business resources. Therefore, while an assistant Go Jane Go hires must be customer-friendly, he or she also must be able to provide Go Jane Go with a reality check when a client's demands exceed practicality. Finally, an assistant to Go Jane Go must have excellent communication and organization skills so he or she can effectively handle running a team while providing Go Jane Go with the information she needs to feel confident that her team is performing at the high caliber she demands.
Professional skills and experience Go Jane Go should look for: attention to detail, managerial skills, previous experience as an assistant, customer service skills, excellent communication skills.
Personality traits Go Jane Go should look for: perfectionism, confidence, a take-charge attitude.
Although working with a team may provide excellent benefits and results, an entrepreneur may not be ready for the costs and challenges of managing a team right away. Hiring an assistant is a great starting point in creating a team, as it encourages a woman business owner to learn to delegate effectively and provides a future link between the business owner and a team.
Women Entrepreneurs Getting Back on Track, Part 3 - Making the Change
Once a female entrepreneur has determined what caused her to stop living her ideal entrepreneurial type, and what she can do about it, she may feel ready to begin the transition to her new ideal type. At first, the transition may seem daunting - but with the right tools, strategies and motivation, a woman business owner can conquer her fears and rediscover the success she deserves.
A recent study reveals there are five distinct types of women in business. Based on professional market research of more than 3,500 women in business, this study shows that each type of business owner has a unique approach to running a business and therefore each one has a unique combination of needs. When a woman is living as her ideal entrepreneurial type, she feels satisfied, personally and professionally. This article outlines four steps a business owner must take when she is ready to make the change.
1. Assess the gaps between the current situation and the ideal situation, for the business owner and for the business. If an entrepreneur has previously lived as her ideal type, then she knows what that feels like, and it will be relatively easy for her to determine the changes she needs to make to become her ideal type again, even if that is a different type than she lived as previously. Assessing the business-related gaps will determine what adaptations the entrepreneur must make within the business so that it functions as she wants it to (whether that means sustaining itself or growing).
Advice: In determining her ideal type, the entrepreneur already should have examined her own behaviors, habits and belief systems and determined which ones she needs to change to become her ideal type. Now it is time for her to begin to change those behaviors, habits and belief systems. That means that in every situation, she must choose to act like her ideal type, even when doing so feels uncomfortable, difficult or challenging. Of course, setbacks will occur as a business owner falls back into familiar habits, but over time, as she continues to act like her ideal type, she will become her ideal type. As for the business itself, the entrepreneur must find ways for it to adapt, just like she is doing. For example, if a business previously offered graphic design services only to high profile clients but is now running short on new clients and/or jobs, maybe the business owner needs to branch out and donate her services to a nonprofit organization as it launches a fundraising event. This particular job may not bring in a paycheck, but providing the service is a great marketing tool and allows the entrepreneur to use her creativity. Also, the business owner could consider calling her contacts and letting them know about promotional prices she's offering, thereby gaining her some new clients.
2. Create a plan for change. Many entrepreneurs find that creating a written plan, or "to-do" list, helps keep them motivated when they're making a change. Writing down each step in the transformation provides an excellent visual reminder of each goal, and allows the entrepreneur to make changes and additions as she needs to. Plus, crossing off each completed item gives a business owner a sense of accomplishment.
Advice: Business owners should write down every single goal they want to accomplish, whether it's creating a new system for office organization or designing a new company web site. Then, they should break each main goal down into smaller steps. For example, the new system for office organization may require the entrepreneur to clear out or destroy her old files, create new file folders, relocate her filing cabinet to a location more convenient to her desk, buy a desktop organizer with designated slots for incoming and outgoing mail, buy a desktop calendar, clear the clutter on her desk and empty her desk drawer. Also, business owners should always closely monitor their progress, so they can celebrate their accomplishments and make adjustments where necessary.
3. Recruit a support system. No one can reach her goals alone, so business owners must not be afraid to ask for help and support in different forms.
Advice: Support systems can include several types of people: those actually doing the work with or for a business owner, those who can provide advice or resources that make doing the work easier, more efficient or less expensive, and those who can support the business owner as an individual with moral support or by holding her accountable.
4. Recognize and reward hard work. As women, we beat ourselves up a lot. Every business owner deserves to recognize and reward herself for confronting her challenges head on, and for making the sometimes-difficult changes necessary to fuel their transformation. The vast majority of people perform much better when they are praised and recognized, than they do when they are afraid of punishment.
Advice: Female entrepreneurs should give themselves loving care whenever they need it, so they can keep moving forward, ever more positively, and arrive at their final destination. Whether times are so tough they need to celebrate every single phone call they made without procrastinating, or they just need to celebrate the major milestones, those celebrations are important.
Taking the actual steps to shift to an ideal situation from one that feels less-than-ideal is gratifying, confidence-building and inspiring to business owners who have experienced setbacks in their businesses. By following these four steps, female entrepreneurs will find success.
Women Entrepreneurs Getting Back on Track, Part 2 - Determining the Future
"When life hands you lemons, make lemonade." But what if a female entrepreneur doesn't want lemonade? When changing circumstances take a woman business owner out of her ideal entrepreneurial type, she may determine that rather than going back to her previous type, she wants to move on to a new ideal. Before she does, though, she must determine what that ideal is, and whether it is truly ideal for her own situation.
Based on professional market research of more than 3,500 women in business, this study shows that each type of business owner has a unique approach to running a business and therefore each one has a unique combination of needs. When a woman is living as her ideal entrepreneurial type, she feels satisfied, personally and professionally. This article outlines three questions a business owner must ask herself when she is on the brink of change.
1. Is this a time for business growth, or a time to sustain? Business growth often requires more time and energy on the part of a business owner. Also, it increases the ratio of time spent strategizing to time spent creating. Therefore, an "ideal" type depends on the level of resources an entrepreneur is able to or wants to invest in her business.
Advice: If an entrepreneur doesn't feel like she is living her ideal type, and wants to grow her business and transform into a new type, she's probably considering becoming either a Jane Dough or a Go Jane Go type, since they generally run larger businesses. She must keep in mind that each entrepreneurial type comes with its own set of strengths and challenges, and "benefits" and "drawbacks," which may actually be different from how the business owner perceives them. For example, Jane Dough business owners often run large businesses, run teams of people, and bring home a high income. They also work long hours and spend more time strategizing than they do creating. Go Jane Go business owners often bring in a high income and love running their businesses and giving back to their communities, sometimes feeling overwhelmed in the process.
2. During this difficult time, has the business owner developed any habits or behaviors she must change or stop so she can become her ideal type? In the process of adapting to what has probably become a difficult situation, it is possible that a business owner may have developed previously uncharacteristic habits or behaviors. Maybe she has begun procrastinating because she is unhappy at work and finds it draining to deal with the problems. Perhaps she feels so overwhelmed with the day-to-day operations of the business that she has stopped communicating with her team members and/or clients. Or maybe she has completely stopped making time for herself and/or her loved ones as she struggles to keep her company afloat.
Advice: In evaluating her own behaviors (especially recently developed behaviors), a female entrepreneur can determine specific adjustments she needs to make in order to power herself into her type change. For example, if cash flow has lessened and she is feeling stressed about it, she may have started avoiding paying the bills. Not only is this behavior unproductive, but it also can put the company in danger and weaken relationships with vendors. When it's time to shift from one entrepreneurial type to another, it is essential that a business owner be cognizant of her own behaviors and how they affect her business, so that every time a decision arises, she can act like her ideal type - that is a powerful way to create change.
3. Is the business owner's current environment conducive to productivity, in work and in personal life? Every business owner lives in two different environments - Her physical space and the people around her. Environment dramatically impacts performance, and it is a great place for an entrepreneur to start when she is making a change.
Advice: Women business owners should consider the people around them and the physical spaces where they work and live, and then ask themselves what needs to be "cleaned up" for optimal performance. Living in clutter - physical or emotional - drains her energy. Female entrepreneurs should consider these actions when wishing to modify their environments:
• Organize and clean up messy desks or office space.
• Hang inspiring artwork in the office.
• Ensure that all office furniture is comfortable and that tools are in easy reach.
• Use color to create the right mood.
• De-clutter everywhere, even the house and the car.
• Eat healthy foods that boost energy.
• Limit or eliminate time spent with negative people and naysayers.
• If eliminating time with negative people is impossible, set clear boundaries, such as making "worrisome" topics off-limits for discussion.
• Meet and become surrounded by positive, inspirational people.
• Create or join a mastermind group (people interested in supporting each others' success).
When life hands a female entrepreneur lemons, she doesn't have to make lemonade - she can make anything she wants. By asking herself the right questions, and answering with her heart, she will be able to follow the recipe for her ideal type - and new success.
Middle Age Togetherness Proves the Importance of Togetherness For a New Age
Next week, I officially become a "woman of a certain age" or in her late forties. A lot has happened to radically change my life over the past year and it gives me pause for thought about how I want spend the second half of my life...
I've always been a big believer in the 'common good' and being true to yourself. Given that we are daily at risk of tripping over into a Moral Abyss, I tend to check my moral compass daily, be it in my personal or professional life.
In my formative years, I became involved in what has become a life-long commitment to work with others to improve peoples' lives and environment. What challenges me nowadays is that I that I want to continue these efforts as an entrepreneur. How to balance the pursuit of profit as a woman business owner, with 'making a difference'.
Ideas of 'empowerment' and 'citizenship', of achieving the greatest benefits for the greatest amount of people, through combined team effort is one of the ethical decisions I have made in my business.
I am not alone it seems, Price Waterhouse Coopers recently undertook research about the effects of the recession on women and found: "The research that we have done on women in the recession shows that 72 per cent say that it has got them thinking about a new start," she says. "And nearly half of them want to shift into a small business or a social enterprise". (Dame Julie Mellor quoted in the Times Online)
Collaboration is a survival strategy amongst entrepreneurs, especially in times of economic challenge in order to 'raise the boat for everybody'.
Lofty business ideals, maybe. I certainly don't lay any claim to easy answers.
I recently heard a speech from eminent philosopher and author, Mr Michael Sandel. I was gripped. How to express that it could be ok for people to make money and not burn the earth or each other in the process had been on my mind for weeks... He offered me some comfort I was heading in the right direction.
If my business entails sharing ideas on how people can achieve dreams of wealth, I need to be clear that this is indeed a 'worthy' goal, given the belief I wrestle with about money 'being the route of all evil'.
Professor Sandel called economics "spurious". This seemed counter-intuitive to me. I had been listening to debates on taxation, inflation, employment and economics on the radio for years; I thought I was gradually figuring out how we all fit into place with these big systems; I couldn't believe what I was hearing. Knowing that he was wiser than me, I turned the radio up and listened - my practical business activities could wait! This was far too important.
What he was getting at, was that economists tell us what we SHOULD be doing for the health of the economy: GDP, employment, inflation and so forth (work harder, for longer hours, accept high taxation, etc) - as if it was all about the Economy and money. But all of these subjects are MORAL and political issues; they have to be weighed up in terms of justice, fairness, ecology and so on. We, the community, has to have their say in order to discover ways to go about our daily life which enables the future of our communities, our families AND our environment to be secure...
The role of economics is merely to inform us of what might be the practical results of our decisions, no more than that. The crucial words here: 'might be'. We are still learning all of the time, because the world is constantly evolving, as we learn new things about our world on a daily basis. Answers are not carved in stone!
So, if our everyday behaviour as individual local citizens and even nations of people and international communities effects the balance of payments, distribution of welfare, health of the planet, the future of all living beings, for instance, then there are ethical implications of ignoring getting involved with each other in subjects about which we care passionately. In other words, "If you are not part of the solution, you are part of the problem".
When I worked for other people in the past, we shared the same ideas to some degree, but quite often the politics of different personalities and value systems working closely together could get in the way of positive results. In the words of my all time favourite song-writers, Neil Peart and Geddy Lee: "Glittering prizes and endless compromises shatter the illusion of integrity."
So now here I am, a mature woman, a newbie woman business owner; I get to CHOOSE whom I work with. I select my team carefully. If I am not convinced that they want to raise the bar for themselves and others, then I really have little interest in supporting them. It's just not how I want to live my life. Fortunately, there are plenty of would be business owners out there who will.
I set out in my working career in paid jobs working alongside or on behalf of communities in the belief we were changing lives for the better. I am still that person. Nowadays my methods are different, but the purpose remains. There's hardly anything more exciting to me than hearing from someone who wants to change their own life, but who also has big dreams.
Some might say that knowing how the world really is, is depressing and de-motivating. Not for me! I know what change is possible when people work together; the trick is finding the right people to do the job and who want the same results. I always did like a challenge! Hope, combined with action and combined effort are the only way any of us will achieve success and fulfil our dreams.
I want more and better for more people and planet and I intend to build a team who feel the same. So what about you? What would you change if you had the economic power to do it?
I go into this subject in more depth in my blog and would really appreciate hearing others views on their aspirations beyond making money and having a successful business and how you intend to fulfill those ambitions.
I've always been a big believer in the 'common good' and being true to yourself. Given that we are daily at risk of tripping over into a Moral Abyss, I tend to check my moral compass daily, be it in my personal or professional life.
In my formative years, I became involved in what has become a life-long commitment to work with others to improve peoples' lives and environment. What challenges me nowadays is that I that I want to continue these efforts as an entrepreneur. How to balance the pursuit of profit as a woman business owner, with 'making a difference'.
Ideas of 'empowerment' and 'citizenship', of achieving the greatest benefits for the greatest amount of people, through combined team effort is one of the ethical decisions I have made in my business.
I am not alone it seems, Price Waterhouse Coopers recently undertook research about the effects of the recession on women and found: "The research that we have done on women in the recession shows that 72 per cent say that it has got them thinking about a new start," she says. "And nearly half of them want to shift into a small business or a social enterprise". (Dame Julie Mellor quoted in the Times Online)
Collaboration is a survival strategy amongst entrepreneurs, especially in times of economic challenge in order to 'raise the boat for everybody'.
Lofty business ideals, maybe. I certainly don't lay any claim to easy answers.
I recently heard a speech from eminent philosopher and author, Mr Michael Sandel. I was gripped. How to express that it could be ok for people to make money and not burn the earth or each other in the process had been on my mind for weeks... He offered me some comfort I was heading in the right direction.
If my business entails sharing ideas on how people can achieve dreams of wealth, I need to be clear that this is indeed a 'worthy' goal, given the belief I wrestle with about money 'being the route of all evil'.
Professor Sandel called economics "spurious". This seemed counter-intuitive to me. I had been listening to debates on taxation, inflation, employment and economics on the radio for years; I thought I was gradually figuring out how we all fit into place with these big systems; I couldn't believe what I was hearing. Knowing that he was wiser than me, I turned the radio up and listened - my practical business activities could wait! This was far too important.
What he was getting at, was that economists tell us what we SHOULD be doing for the health of the economy: GDP, employment, inflation and so forth (work harder, for longer hours, accept high taxation, etc) - as if it was all about the Economy and money. But all of these subjects are MORAL and political issues; they have to be weighed up in terms of justice, fairness, ecology and so on. We, the community, has to have their say in order to discover ways to go about our daily life which enables the future of our communities, our families AND our environment to be secure...
The role of economics is merely to inform us of what might be the practical results of our decisions, no more than that. The crucial words here: 'might be'. We are still learning all of the time, because the world is constantly evolving, as we learn new things about our world on a daily basis. Answers are not carved in stone!
So, if our everyday behaviour as individual local citizens and even nations of people and international communities effects the balance of payments, distribution of welfare, health of the planet, the future of all living beings, for instance, then there are ethical implications of ignoring getting involved with each other in subjects about which we care passionately. In other words, "If you are not part of the solution, you are part of the problem".
When I worked for other people in the past, we shared the same ideas to some degree, but quite often the politics of different personalities and value systems working closely together could get in the way of positive results. In the words of my all time favourite song-writers, Neil Peart and Geddy Lee: "Glittering prizes and endless compromises shatter the illusion of integrity."
So now here I am, a mature woman, a newbie woman business owner; I get to CHOOSE whom I work with. I select my team carefully. If I am not convinced that they want to raise the bar for themselves and others, then I really have little interest in supporting them. It's just not how I want to live my life. Fortunately, there are plenty of would be business owners out there who will.
I set out in my working career in paid jobs working alongside or on behalf of communities in the belief we were changing lives for the better. I am still that person. Nowadays my methods are different, but the purpose remains. There's hardly anything more exciting to me than hearing from someone who wants to change their own life, but who also has big dreams.
Some might say that knowing how the world really is, is depressing and de-motivating. Not for me! I know what change is possible when people work together; the trick is finding the right people to do the job and who want the same results. I always did like a challenge! Hope, combined with action and combined effort are the only way any of us will achieve success and fulfil our dreams.
I want more and better for more people and planet and I intend to build a team who feel the same. So what about you? What would you change if you had the economic power to do it?
I go into this subject in more depth in my blog and would really appreciate hearing others views on their aspirations beyond making money and having a successful business and how you intend to fulfill those ambitions.
Best of the Janes - Getting Back on Track
While any female entrepreneur who has experienced a setback in her business will ultimately take a multi-pronged approach to getting back on track, certain specific elements of the rise to ideal apply differently to each entrepreneurial type.
A recent study reveals there are five distinct types of women in business. Based on professional market research of more than 3,500 women in business, this study shows that each type of business owner has a unique approach to running a business and therefore each one has a unique combination of needs. When a woman is living as her ideal entrepreneurial type, she feels satisfied, personally and professionally. This article outlines six ideas for jumpstarting cash flow following a business setback.
Most women business owners who have experienced a setback are living a Tenacity Jane phase. Tenacity Jane is an entrepreneur with an undeniable passion for her business, and one who tends to be struggling with cash flow. As a result, she's working longer hours, and making less money than she'd like. Nevertheless, Tenacity Jane is bound and determined to make her business a success. At 31% of women in business, Tenacity Janes make up the largest group of female entrepreneurs. Typically, a woman business owner becomes a Tenacity Jane for one of five reasons: she has a craft or skill, but lacks business knowledge, the business started undercapitalized or acquired more debt than can be comfortably carried at current revenue levels, she doesn't charge enough for her services, she lacks focus and is trying to accomplish too much all at once, or something has changed in the industry or cost structure that has caused a once-prosperous business to falter financially.
To move forward from a Tenacity Jane phase, a woman business owner must:
1. Invest in her own knowledge. New knowledge can be the key to jumpstarting profitability. Even if she is an expert in her craft, she may not have the knowledge she needs to run a successful business. Odds are, she recognizes where she can improve her knowledge for the betterment of her business. An entrepreneur can create her own training plan or she can hire someone with expertise to fill in the gaps. Whether she reads books, buys home study courses or attends live classes, an entrepreneur who builds her knowledge base dramatically increases her chances of boosting her profit. Some areas where she may need new knowledge: marketing (specifically, email marketing, social networking as a marketing tool, etc.), financial management, team building and delegation, and project and time management.
2. Identify her target market and its needs, and then market accordingly. By surveying her existing customers, a female entrepreneur can get an inexpensive and very accurate picture of which of her products and services are most in-demand, and of the profiles of the people who are using them the most. Then, she can market to similar people, thus increasing her chances of attracting ideal clients who need (and will pay for) her services.
3. Evaluate her pricing and raise it, if possible. Whether she "started low" to win business and never raised her rates, or she over-estimated her profit margin, it never hurts for an entrepreneur to evaluate how her pricing compares with that of other similar professionals in her area. She can send surveys to existing customers, asking them about industry pricing, and call competitors and ask for a price sheet. Also, by evaluating her costs and margin, she can determine whether she could increase her margin slightly and therefore increase her profits. When considering hourly rates, a female business owner should remember to include the cost of taking time off for vacation, and the time she spends working non-billable hours marketing, paying bills, etc. She should consider what each project or unit is worth to her - and create a guideline for herself about how much she has to charge to feel properly compensated.
4. Network. By networking with other like-minded professionals, a woman business owner creates opportunities for a support system in which she can share ideas and information, and for getting word of mouth referrals. Also, networking provides chances for affiliate relationships, in which two professionals who offer related services market their products together.
5. Upsell. Business owners can drive profit fairly easily with a little extra work through consistent upselling. In this sales approach, every time someone buys from the entrepreneur, she offers them a chance to pay just a little bit more for an expanded service or an augmented product. For example, if she sells a necklace, she upsells to include a fancy jewelry box. If she sells an information product, she upsells to a continuity product such as a newsletter.
6. Communicate regularly with information and offers. Every business owner probably has a list of prospects and current customers. A female entrepreneur must recognize that the more frequently she communicates with her prospects and customers, the more frequently she'll be on their minds - increasing the likelihood that they'll buy from her! Business owners can employ (almost) effortless marketing methods for communicating regularly, such as social networking, blogging and newsletters.
It is common for a business owner to experience a setback within her company. Fortunately, by following specific steps and guidelines, and by using the six cash flow jumpstart strategies listed above, a female entrepreneur can overcome her setbacks and be on her way to living her ideal entrepreneurial type and enjoying her successes.
A recent study reveals there are five distinct types of women in business. Based on professional market research of more than 3,500 women in business, this study shows that each type of business owner has a unique approach to running a business and therefore each one has a unique combination of needs. When a woman is living as her ideal entrepreneurial type, she feels satisfied, personally and professionally. This article outlines six ideas for jumpstarting cash flow following a business setback.
Most women business owners who have experienced a setback are living a Tenacity Jane phase. Tenacity Jane is an entrepreneur with an undeniable passion for her business, and one who tends to be struggling with cash flow. As a result, she's working longer hours, and making less money than she'd like. Nevertheless, Tenacity Jane is bound and determined to make her business a success. At 31% of women in business, Tenacity Janes make up the largest group of female entrepreneurs. Typically, a woman business owner becomes a Tenacity Jane for one of five reasons: she has a craft or skill, but lacks business knowledge, the business started undercapitalized or acquired more debt than can be comfortably carried at current revenue levels, she doesn't charge enough for her services, she lacks focus and is trying to accomplish too much all at once, or something has changed in the industry or cost structure that has caused a once-prosperous business to falter financially.
To move forward from a Tenacity Jane phase, a woman business owner must:
1. Invest in her own knowledge. New knowledge can be the key to jumpstarting profitability. Even if she is an expert in her craft, she may not have the knowledge she needs to run a successful business. Odds are, she recognizes where she can improve her knowledge for the betterment of her business. An entrepreneur can create her own training plan or she can hire someone with expertise to fill in the gaps. Whether she reads books, buys home study courses or attends live classes, an entrepreneur who builds her knowledge base dramatically increases her chances of boosting her profit. Some areas where she may need new knowledge: marketing (specifically, email marketing, social networking as a marketing tool, etc.), financial management, team building and delegation, and project and time management.
2. Identify her target market and its needs, and then market accordingly. By surveying her existing customers, a female entrepreneur can get an inexpensive and very accurate picture of which of her products and services are most in-demand, and of the profiles of the people who are using them the most. Then, she can market to similar people, thus increasing her chances of attracting ideal clients who need (and will pay for) her services.
3. Evaluate her pricing and raise it, if possible. Whether she "started low" to win business and never raised her rates, or she over-estimated her profit margin, it never hurts for an entrepreneur to evaluate how her pricing compares with that of other similar professionals in her area. She can send surveys to existing customers, asking them about industry pricing, and call competitors and ask for a price sheet. Also, by evaluating her costs and margin, she can determine whether she could increase her margin slightly and therefore increase her profits. When considering hourly rates, a female business owner should remember to include the cost of taking time off for vacation, and the time she spends working non-billable hours marketing, paying bills, etc. She should consider what each project or unit is worth to her - and create a guideline for herself about how much she has to charge to feel properly compensated.
4. Network. By networking with other like-minded professionals, a woman business owner creates opportunities for a support system in which she can share ideas and information, and for getting word of mouth referrals. Also, networking provides chances for affiliate relationships, in which two professionals who offer related services market their products together.
5. Upsell. Business owners can drive profit fairly easily with a little extra work through consistent upselling. In this sales approach, every time someone buys from the entrepreneur, she offers them a chance to pay just a little bit more for an expanded service or an augmented product. For example, if she sells a necklace, she upsells to include a fancy jewelry box. If she sells an information product, she upsells to a continuity product such as a newsletter.
6. Communicate regularly with information and offers. Every business owner probably has a list of prospects and current customers. A female entrepreneur must recognize that the more frequently she communicates with her prospects and customers, the more frequently she'll be on their minds - increasing the likelihood that they'll buy from her! Business owners can employ (almost) effortless marketing methods for communicating regularly, such as social networking, blogging and newsletters.
It is common for a business owner to experience a setback within her company. Fortunately, by following specific steps and guidelines, and by using the six cash flow jumpstart strategies listed above, a female entrepreneur can overcome her setbacks and be on her way to living her ideal entrepreneurial type and enjoying her successes.
3 Clever Ways Creative Women Entrepreneurs Can Finally Get Organized!
If you're a creative woman entrepreneur then chances are good you've labeled yourself as someone who just can't seem to get, or stay, organized. Popping up with new ideas for your business or about how to help people? Easy! Figuring out a filing system or how to get those piles of paper up off your floor? Ugh...well, that's a different story now, isn't it?!
What organized people don't understand about creative souls is that the thought of being organized seems to be in conflict with our creative spirit.
Accurate or not, creative types feel that if everything is neat and tidy then their creativity will be contained as well.
Well, I'm about to bust that myth because I am a both highly creative AND organized woman business owner. In fact, it's when my papers, email and office are the most organized that I am the most creative.
So how do I keep both ideals-creativity and order-in harmony? The answers are easier than you might think.
Here are three simple tips I use to keep my creative muse inspired and my office organized:
Creative Organizing Tip #1: Make Space
Creativity requires space. For me, that means space in my physical environment as well as a feeling of spaciousness in my body. If you want to create success in your woman small business then it makes sense that you'll need space to accomplish that.
ACTION: Pick another room, closet or garage and move everything that is piled up on the floor there now. Deal with it later but for now, enjoy the space you've just created.
Creative Organizing Tip #2: Make the System Match YOUR Creative Flair!
Creative women entrepreneurs hate being hemmed in by someone else's system. Solution? Customize the system to match YOUR style, not the other way around! Use lots of bright colors for your files. If following the traditional A-B-C filing order isn't your thing, then file in a way that matches YOUR creative flair.
ACTION: Pick an area of organization that feels difficult. What would brighten it up or make it feel more playful for you? For example, I eschew lots of folders in favor of three-ring binders that I decorate using inspiring images and motivational phrases. Binders keep my office neat and tidy and the information right within my reach.
Creative Organizing Tip #3: Quit Telling Stories
When I interviewed Fearless Organizing Expert Elizabeth Hagen, she told me that people with a lot of clutter typically have a story attached to each item.
Solution? Quit telling stories such as "I might need it again" or "Uncle Bob gave me this golf-bag shaped business card holder." (Tell Uncle Bob thanks but since you don't golf, donate it to a local resale shop that supports a charity).
ACTION: Pick up ten items in your office right now. What story have you told yourself about each item? Quit the story and immediately get rid of at least seven of those items.
I bless the success of my high six-figure business on my ability to comfortably integrate creativity with being organized. You can too, if you remember that being creative actually gives woman small business owners an edge when it comes to being organized because you can create the organizing solution that works for YOU!
What organized people don't understand about creative souls is that the thought of being organized seems to be in conflict with our creative spirit.
Accurate or not, creative types feel that if everything is neat and tidy then their creativity will be contained as well.
Well, I'm about to bust that myth because I am a both highly creative AND organized woman business owner. In fact, it's when my papers, email and office are the most organized that I am the most creative.
So how do I keep both ideals-creativity and order-in harmony? The answers are easier than you might think.
Here are three simple tips I use to keep my creative muse inspired and my office organized:
Creative Organizing Tip #1: Make Space
Creativity requires space. For me, that means space in my physical environment as well as a feeling of spaciousness in my body. If you want to create success in your woman small business then it makes sense that you'll need space to accomplish that.
ACTION: Pick another room, closet or garage and move everything that is piled up on the floor there now. Deal with it later but for now, enjoy the space you've just created.
Creative Organizing Tip #2: Make the System Match YOUR Creative Flair!
Creative women entrepreneurs hate being hemmed in by someone else's system. Solution? Customize the system to match YOUR style, not the other way around! Use lots of bright colors for your files. If following the traditional A-B-C filing order isn't your thing, then file in a way that matches YOUR creative flair.
ACTION: Pick an area of organization that feels difficult. What would brighten it up or make it feel more playful for you? For example, I eschew lots of folders in favor of three-ring binders that I decorate using inspiring images and motivational phrases. Binders keep my office neat and tidy and the information right within my reach.
Creative Organizing Tip #3: Quit Telling Stories
When I interviewed Fearless Organizing Expert Elizabeth Hagen, she told me that people with a lot of clutter typically have a story attached to each item.
Solution? Quit telling stories such as "I might need it again" or "Uncle Bob gave me this golf-bag shaped business card holder." (Tell Uncle Bob thanks but since you don't golf, donate it to a local resale shop that supports a charity).
ACTION: Pick up ten items in your office right now. What story have you told yourself about each item? Quit the story and immediately get rid of at least seven of those items.
I bless the success of my high six-figure business on my ability to comfortably integrate creativity with being organized. You can too, if you remember that being creative actually gives woman small business owners an edge when it comes to being organized because you can create the organizing solution that works for YOU!
Increase Sales Tip - Hire a Woman For a Results Driven Sales Person
Do you want to increase sales because your sales are lagging? Have you considered hiring a woman?
Women in business are an exploding factor within the American economy. This growing force must be doing something right to have high profits than other business. One might even speculate that women are better sales people than men given what the research suggests.
Currently, do you have women in your sales force? If so, how is their performance to your male sales force? If not, are some of your policies negatively affecting their long term sales performance?
For example, women in sales usually are much better relationship builders than men. They will take the time to establish a relationship of trust and mutual respect.
As a sales manager and sales trainer, I have witnessed first hand that women are better in sales than men in today's business marketplace. For when women build relationships, they are building loyal customers.
From my own personal experiences as a woman sales person, woman business owner and observing others of both sexes in sales, I have observed women:
* Reacting faster to customers' calls
* Answering questions with far greater detail to ensure customer loyalty
* Going the extra mile in making sure the customer is beyond satisfied, but truly loyal
Women in business and women in sales also for the most part are not after the big, multi-dollar contracts, but rather want to demonstrate how they can handle the same, day to day sales and service. These results driven individuals understand that building a strong relationships will deliver far more in the long term from profitability to overall sales revenue. This may be why in the last decade women business owners now own 10.4 million of the 26 million privately held businesses.
Another reason why I believe if you wish to increase sales is to hire a woman is because the majority of women in sales that I know place a greater emphasis on values. These ladies be them women sales persons or women business owners will not do the wink and the nod to get the business. Yes, there are some that still do, but from my personal observations during the last 10 years, most women believe that values cannot be compromised because of their solid relationships with their clients.
The final reason is personal experience. During the last year, every time I attend a networking event, it has always been a man trying to sell me something without building a relationship. And actions always speak louder than words.
Women in business are an exploding factor within the American economy. This growing force must be doing something right to have high profits than other business. One might even speculate that women are better sales people than men given what the research suggests.
Currently, do you have women in your sales force? If so, how is their performance to your male sales force? If not, are some of your policies negatively affecting their long term sales performance?
For example, women in sales usually are much better relationship builders than men. They will take the time to establish a relationship of trust and mutual respect.
As a sales manager and sales trainer, I have witnessed first hand that women are better in sales than men in today's business marketplace. For when women build relationships, they are building loyal customers.
From my own personal experiences as a woman sales person, woman business owner and observing others of both sexes in sales, I have observed women:
* Reacting faster to customers' calls
* Answering questions with far greater detail to ensure customer loyalty
* Going the extra mile in making sure the customer is beyond satisfied, but truly loyal
Women in business and women in sales also for the most part are not after the big, multi-dollar contracts, but rather want to demonstrate how they can handle the same, day to day sales and service. These results driven individuals understand that building a strong relationships will deliver far more in the long term from profitability to overall sales revenue. This may be why in the last decade women business owners now own 10.4 million of the 26 million privately held businesses.
Another reason why I believe if you wish to increase sales is to hire a woman is because the majority of women in sales that I know place a greater emphasis on values. These ladies be them women sales persons or women business owners will not do the wink and the nod to get the business. Yes, there are some that still do, but from my personal observations during the last 10 years, most women believe that values cannot be compromised because of their solid relationships with their clients.
The final reason is personal experience. During the last year, every time I attend a networking event, it has always been a man trying to sell me something without building a relationship. And actions always speak louder than words.
The Business Profitability Difference
For every woman owned company that is successful, there are three or more who are not. What's the difference? It just might be the difference in the mindset of the woman business owner.
Most business women who start their own company do so because they are looking for more interesting ways to use their mind and their talent while allowing them the freedom to make their own choices. Indeed, that's one of the advantages of business ownership. But, if the business isn't profitable it won't last very long.
Interestingly, intelligence and talent seem to have nothing to do with success, as many a woman business owner ,who ended up shutting down their business, can attest.
Edith Piaf, one of France's greatest singers who at one time lived on the streets, once said, "Money? How did I lose it? I never did lose it. I just never knew where it went."
If you find yourself with this financial dilemma you're certainly not alone.
The problem for many of us business women is that we were taught early on that making money was not "nice". It came from our puritan roots and has been passed down through the generations. Surely you've heard "money is the root of all evil". The question is ... do you believe it?
Many women also feel they don't have a right to make a lot of money. A woman owned company 40 years ago was considered nothing more than a hobby. Television during that era convinced us that "father knows best" and it is the man of the house who should be the breadwinner of the family.
You may hold any of these hidden beliefs without even being aware of it. That is because the roots of our beliefs go very deep, and while we may not be consciously aware of these thoughts, it is possibly the reason you are not experiencing business profitability.
So what can you do to improve your business profitability and success as a woman business owner?
Take action. Here's how:
1. Identify how you feel about money and if it's your beliefs that are keeping you from making the kind of income you want and need. To find out if it's your mindset about money that is holding you back, ask yourself how you feel about people who have money. If your reaction is a slightly negative or uncomfortable feeling, dig deeper. Observe what thoughts pop into your head without judging them. You may begin to see a pattern of negative thoughts that you have associated with money.
2. Now, give yourself permission to let go of those thoughts. Realize that how you feel is what keeps you from reaching your potential in business. Begin to recognize that money is nothing more than paper. It can do us no harm and it certainly is not evil. It is what people do with money that makes all the difference. Ask any woman owned company what they do with their profits and the majority of the time they will have a favorite charity or charities they support financially. Realize that having money is actually good. It provides us security, enjoyment and the ability to make a difference for others
3. Use self-talk to improve your confidence and change your beliefs. It takes serious effort to change beliefs but, if you're serious about success, you will find a way to do it. As you begin to question your beliefs, understand that what is past is OK. It's all you knew. Don't beat yourself up over it for your past financial mistakes. Instead, look at this as a great learning experience. Self-talk is used by NLP experts and many positive thinkers as a way to improve people's lives. We all experience self-talk even if we don't realize we're doing it. Why not self-talk on purpose? Once we become aware of our internal dialog about money we can begin the journey to improve our business profitability. Tell yourself every single morning when you get out of bed "It is OK to make money and today I'm going to work on it". When you go to bed at night, remind yourself of all you've done that day to help you improve your financial picture and congratulate yourself. You'll sleep better too.
4. Get more informed about business finances. Have a working knowledge of how assets and liabilities affect your bottom line. Many financial companies have free literature that teaches how to read a balance sheet and a financial statement so that you understand more about your financial picture. You may also find this information online. In addition, you need a financial plan for your business just like you need a financial plan for yourself. This is the step by step action plan based on where you are today and where you want to be in the future. It's a roadmap for your personal financial success and your business profitability. If you've never done a financial plan you can get started with eFinPLAN, a financial planning software that is easy and inexpensive to do it at home. It will not only teach you how to think about money, but get you started on the path to financial freedom.
5. Analyze your product or service, your sales, and your expenses, then decide where you could improve. Take a look at your product. Is it one you believe in? Do you really feel good about what it can do for others? If not, you'll find it hard to sell so it might be time to look around for something else. If you do believe in your product or service, then it's time to look at your sales. How many prospects are you reaching per day? Is it enough? If you're uncertain about how to increase the number of prospects you reach or how to close them, you might consider getting some training. Find more information on how to start and grow a profitable women owned company at WomenCorp. Next, look at your expenses. How much does your product cost when you include the cost of your labor, office rent, utilities and travel? Is there a way you can change that picture to reduce expenses or increase your price to cover them?
6. Enjoy the results! When you focus on improving your profits you can't help but improve the long term potential for your business. And remember to congratulate yourself and acknowledge your accomplishment.
In Jack Canfield's "The Power of Focus" he shows how just by focusing on what you want and reviewing it regularly, you will begin to see it appear in your life.
Remember, the past doesn't matter. You can recover and be on your way to improved business profitability in a matter of months. But without action, nothing will happen.
So get started today. With the right mindset, you are half way there to having a successful woman owned company that everyone admires and will provide you a source of great income and immense satisfaction.
Most business women who start their own company do so because they are looking for more interesting ways to use their mind and their talent while allowing them the freedom to make their own choices. Indeed, that's one of the advantages of business ownership. But, if the business isn't profitable it won't last very long.
Interestingly, intelligence and talent seem to have nothing to do with success, as many a woman business owner ,who ended up shutting down their business, can attest.
Edith Piaf, one of France's greatest singers who at one time lived on the streets, once said, "Money? How did I lose it? I never did lose it. I just never knew where it went."
If you find yourself with this financial dilemma you're certainly not alone.
The problem for many of us business women is that we were taught early on that making money was not "nice". It came from our puritan roots and has been passed down through the generations. Surely you've heard "money is the root of all evil". The question is ... do you believe it?
Many women also feel they don't have a right to make a lot of money. A woman owned company 40 years ago was considered nothing more than a hobby. Television during that era convinced us that "father knows best" and it is the man of the house who should be the breadwinner of the family.
You may hold any of these hidden beliefs without even being aware of it. That is because the roots of our beliefs go very deep, and while we may not be consciously aware of these thoughts, it is possibly the reason you are not experiencing business profitability.
So what can you do to improve your business profitability and success as a woman business owner?
Take action. Here's how:
1. Identify how you feel about money and if it's your beliefs that are keeping you from making the kind of income you want and need. To find out if it's your mindset about money that is holding you back, ask yourself how you feel about people who have money. If your reaction is a slightly negative or uncomfortable feeling, dig deeper. Observe what thoughts pop into your head without judging them. You may begin to see a pattern of negative thoughts that you have associated with money.
2. Now, give yourself permission to let go of those thoughts. Realize that how you feel is what keeps you from reaching your potential in business. Begin to recognize that money is nothing more than paper. It can do us no harm and it certainly is not evil. It is what people do with money that makes all the difference. Ask any woman owned company what they do with their profits and the majority of the time they will have a favorite charity or charities they support financially. Realize that having money is actually good. It provides us security, enjoyment and the ability to make a difference for others
3. Use self-talk to improve your confidence and change your beliefs. It takes serious effort to change beliefs but, if you're serious about success, you will find a way to do it. As you begin to question your beliefs, understand that what is past is OK. It's all you knew. Don't beat yourself up over it for your past financial mistakes. Instead, look at this as a great learning experience. Self-talk is used by NLP experts and many positive thinkers as a way to improve people's lives. We all experience self-talk even if we don't realize we're doing it. Why not self-talk on purpose? Once we become aware of our internal dialog about money we can begin the journey to improve our business profitability. Tell yourself every single morning when you get out of bed "It is OK to make money and today I'm going to work on it". When you go to bed at night, remind yourself of all you've done that day to help you improve your financial picture and congratulate yourself. You'll sleep better too.
4. Get more informed about business finances. Have a working knowledge of how assets and liabilities affect your bottom line. Many financial companies have free literature that teaches how to read a balance sheet and a financial statement so that you understand more about your financial picture. You may also find this information online. In addition, you need a financial plan for your business just like you need a financial plan for yourself. This is the step by step action plan based on where you are today and where you want to be in the future. It's a roadmap for your personal financial success and your business profitability. If you've never done a financial plan you can get started with eFinPLAN, a financial planning software that is easy and inexpensive to do it at home. It will not only teach you how to think about money, but get you started on the path to financial freedom.
5. Analyze your product or service, your sales, and your expenses, then decide where you could improve. Take a look at your product. Is it one you believe in? Do you really feel good about what it can do for others? If not, you'll find it hard to sell so it might be time to look around for something else. If you do believe in your product or service, then it's time to look at your sales. How many prospects are you reaching per day? Is it enough? If you're uncertain about how to increase the number of prospects you reach or how to close them, you might consider getting some training. Find more information on how to start and grow a profitable women owned company at WomenCorp. Next, look at your expenses. How much does your product cost when you include the cost of your labor, office rent, utilities and travel? Is there a way you can change that picture to reduce expenses or increase your price to cover them?
6. Enjoy the results! When you focus on improving your profits you can't help but improve the long term potential for your business. And remember to congratulate yourself and acknowledge your accomplishment.
In Jack Canfield's "The Power of Focus" he shows how just by focusing on what you want and reviewing it regularly, you will begin to see it appear in your life.
Remember, the past doesn't matter. You can recover and be on your way to improved business profitability in a matter of months. But without action, nothing will happen.
So get started today. With the right mindset, you are half way there to having a successful woman owned company that everyone admires and will provide you a source of great income and immense satisfaction.
The Balancing Act - Being a Woman Business Owner & Raising a Family
We all know we live in a complex society and accelerated, which makes it hard to stop and find time to truly connect with our feelings and our needs.
Thus we lose touch with our most sensitive and away from our true essence and the natural functioning of life. Forgetting many times the magic of existence, the ability to surprise at the wonder of life and engender a responsibility that entails. No promotes physical and emotional preparation for when receiving a child, may be aware of our needs and concerns and brewing a space that allows us to identify our own internal resources, so that in this way, we can better cope with this experience so especially a child.
The stage of pregnancy and the postpartum period will be colored by how we have lived through these stages as primary and as we have developed to date, as have been our parents, our first links with them, their presences and absences, etc. We need to do, be honest with ourselves and see what our availability for this task is so demanding that maternity especially in the early stages, which is our personal situation, economic and emotional.
It is important to be aware that the baby is an extremely dependent and requires a close and almost constant contact with his mother, especially in the first months of life is affected when the separation is sharp and produces a prolonged absence. Here of course a number of elements to discriminate. As we will depend on each particular situation and working hours, also on the ability of the mother delivered the baby full contact with her after work, because no matter only time that we dedicate the baby in the form quantitatively but qualitatively.
The labor issue is something that anxiety quite as women maternity leave is over, as both suffer separation and often do not see the baby who will care course should fulfill this function of the most loving way possible. Integrate both aspects and costs involved in moving from a state deeply emotional and intuitive, intimate sound to another, namely that is the implication of work in general before we really feel ready to return to our activities which generate conflict. Returning to work is usually seen as a social imposition when in fact the desire of the mother would stay with your baby. We also know that the return to work generally involves some stress that sometimes results in the emotional state of the mother and often affect breastfeeding.
Thus we lose touch with our most sensitive and away from our true essence and the natural functioning of life. Forgetting many times the magic of existence, the ability to surprise at the wonder of life and engender a responsibility that entails. No promotes physical and emotional preparation for when receiving a child, may be aware of our needs and concerns and brewing a space that allows us to identify our own internal resources, so that in this way, we can better cope with this experience so especially a child.
The stage of pregnancy and the postpartum period will be colored by how we have lived through these stages as primary and as we have developed to date, as have been our parents, our first links with them, their presences and absences, etc. We need to do, be honest with ourselves and see what our availability for this task is so demanding that maternity especially in the early stages, which is our personal situation, economic and emotional.
It is important to be aware that the baby is an extremely dependent and requires a close and almost constant contact with his mother, especially in the first months of life is affected when the separation is sharp and produces a prolonged absence. Here of course a number of elements to discriminate. As we will depend on each particular situation and working hours, also on the ability of the mother delivered the baby full contact with her after work, because no matter only time that we dedicate the baby in the form quantitatively but qualitatively.
The labor issue is something that anxiety quite as women maternity leave is over, as both suffer separation and often do not see the baby who will care course should fulfill this function of the most loving way possible. Integrate both aspects and costs involved in moving from a state deeply emotional and intuitive, intimate sound to another, namely that is the implication of work in general before we really feel ready to return to our activities which generate conflict. Returning to work is usually seen as a social imposition when in fact the desire of the mother would stay with your baby. We also know that the return to work generally involves some stress that sometimes results in the emotional state of the mother and often affect breastfeeding.
As a Woman Business Owner, Where Did You Get Your Gumption?
Courage, guts, nerve, bravery, common sense, good sense, horse sense. That is what I get when I put my mouse over the word 'gumption' and right click.
Do you have gumption? How did you get it?
I have no doubt that you have gumption. You would have to have it if you own your own business. Women entrepreneurs, (and you men also) take a risk; take a leap of faith, to do what you do.
It's much easier to just get a pay check every other week with insurance benefits than to do what you do. You are brave.
I know this may sound like a crazy question, but where did that come from for you?
I never would have even thought about this myself until this weekend when I was skiing.
My 27 year old daughter and I were swaying wildly on the chair lift. Seriously, it was crazy and a bit scary but we were laughing. Then we saw the people below us who were skiing and the wind and snow was howling around their feet. You actually couldn't even see their feet and when we went down the slope you couldn't see ours either.
The thing is I was asking her why do you think we all do this craziness? We spend a ton of money to ski for 3 days, our faces are sunburned and wind burned (despite goggles and neck warmer up to our noses) and we can't see 5 feet in front of us. But we keep going up more chair lifts and making more runs down. Wow. Kind of like owning your own business. The way I figured I got the gumption and my daughters have the gumption to step away from the crowd and do something brave. Granted, there were 15,000 of us skiing that day but when you figure all the people in Colorado and around, that is a mere pittance.
I was taught to be independent and self sufficient, to own my own business as my father did, and not to worry if the wind is blowing your chair lift around, just hang on and go for the ride.
I suspect you all learned in your childhood or beyond to take the risk, to be brave and grab that brass ring.
Where did that come from for you? And if you have children are you teaching them to be brave and take risks? I don't mean in a crazy manner but in a way that helps them stand out, be different and make a stand.
Make a stand? Yes, I mean that. I take a stand by saying that women after 50 need to take care of themselves and not depend on others (i.e. men) to take care of them.
You need to know that you will be fine on your own and you don't have to count on others to take care of you. Women in retirement fair very poorly, much worse than men. The 'bag lady' syndrome is alive and well even with middle class and above women.
Do you have gumption? How did you get it?
I have no doubt that you have gumption. You would have to have it if you own your own business. Women entrepreneurs, (and you men also) take a risk; take a leap of faith, to do what you do.
It's much easier to just get a pay check every other week with insurance benefits than to do what you do. You are brave.
I know this may sound like a crazy question, but where did that come from for you?
I never would have even thought about this myself until this weekend when I was skiing.
My 27 year old daughter and I were swaying wildly on the chair lift. Seriously, it was crazy and a bit scary but we were laughing. Then we saw the people below us who were skiing and the wind and snow was howling around their feet. You actually couldn't even see their feet and when we went down the slope you couldn't see ours either.
The thing is I was asking her why do you think we all do this craziness? We spend a ton of money to ski for 3 days, our faces are sunburned and wind burned (despite goggles and neck warmer up to our noses) and we can't see 5 feet in front of us. But we keep going up more chair lifts and making more runs down. Wow. Kind of like owning your own business. The way I figured I got the gumption and my daughters have the gumption to step away from the crowd and do something brave. Granted, there were 15,000 of us skiing that day but when you figure all the people in Colorado and around, that is a mere pittance.
I was taught to be independent and self sufficient, to own my own business as my father did, and not to worry if the wind is blowing your chair lift around, just hang on and go for the ride.
I suspect you all learned in your childhood or beyond to take the risk, to be brave and grab that brass ring.
Where did that come from for you? And if you have children are you teaching them to be brave and take risks? I don't mean in a crazy manner but in a way that helps them stand out, be different and make a stand.
Make a stand? Yes, I mean that. I take a stand by saying that women after 50 need to take care of themselves and not depend on others (i.e. men) to take care of them.
You need to know that you will be fine on your own and you don't have to count on others to take care of you. Women in retirement fair very poorly, much worse than men. The 'bag lady' syndrome is alive and well even with middle class and above women.
Top 10 Gifts For The Woman Business Owner In Your Life!
With women starting businesses at a rate almost four times that of men, odds are you have a special someone in your life who is a woman entrepreneur. Starting a business is a life-changing effort and that is worthy of support and encouragement.
Here are ten gift ideas that say, "I believe in what you are doing, and I want to support your efforts."
10. Gift Card from an Office Supply Store
From presentation covers to electronics, every business needs top-notch supplies.
9. Magazine, Book, or e-Book Gift Certificate
New ideas are the lifeblood of any business. There's always something that can be improved on, and advice from the experts is always welcome.
8. Networking Event Ticket
Having a solid network is critical for any business owner. Meeting new people - and particularly other entrepreneurs - is a strategic component of building a solid network. Give her the chance to explore a new group of individuals over breakfast or during an evening networking event!
7. Spa Gift Certificate
Every woman needs a little time for pampering. Women tend to spend most of our time taking care of other people, so it is nice to have a chance to take care of ourselves.
6. Maid or Concierge Service
Give the gift of peace-of-mind by freeing up some of her valuable time.
5. Professional Organizer
Sometimes, staying on top of the paperwork is hard when you are busy running the operation. Having someone come help set up a system for organizing this critical area of the business is a real blessing!
4. Sponsor an Ad
Help her bring in more business! With a little legwork, you can find the right publication to help her reach a broader group of potential clients, whether it is online or in hard-copy format.
3. Tech Support
There is nothing more frustrating than having computer problems when you have a deadline looming. Giving her a couple of hours from an on-site tech support company means she has someone she can call on in an emergency or to prevent one altogether.
2. Coaching
No matter how well-established her business, getting a fresh perspective is important. Whether it's marketing or business development, coaching is a fantastic gift that helps her step back from running daily operations for a while to focus on direction, goals, and planning.
1. Business Image Consultation
Whether she is standing at a podium or sitting at a baseball game, personal presentation is vital. In business, you can meet potential partners and clients anywhere at any time.
Give her the gift of self-confidence and security knowing that the first impression she makes is right for the business she is in, and for the people she is dealing with. It's a gift that lasts a lifetime.
Here are ten gift ideas that say, "I believe in what you are doing, and I want to support your efforts."
10. Gift Card from an Office Supply Store
From presentation covers to electronics, every business needs top-notch supplies.
9. Magazine, Book, or e-Book Gift Certificate
New ideas are the lifeblood of any business. There's always something that can be improved on, and advice from the experts is always welcome.
8. Networking Event Ticket
Having a solid network is critical for any business owner. Meeting new people - and particularly other entrepreneurs - is a strategic component of building a solid network. Give her the chance to explore a new group of individuals over breakfast or during an evening networking event!
7. Spa Gift Certificate
Every woman needs a little time for pampering. Women tend to spend most of our time taking care of other people, so it is nice to have a chance to take care of ourselves.
6. Maid or Concierge Service
Give the gift of peace-of-mind by freeing up some of her valuable time.
5. Professional Organizer
Sometimes, staying on top of the paperwork is hard when you are busy running the operation. Having someone come help set up a system for organizing this critical area of the business is a real blessing!
4. Sponsor an Ad
Help her bring in more business! With a little legwork, you can find the right publication to help her reach a broader group of potential clients, whether it is online or in hard-copy format.
3. Tech Support
There is nothing more frustrating than having computer problems when you have a deadline looming. Giving her a couple of hours from an on-site tech support company means she has someone she can call on in an emergency or to prevent one altogether.
2. Coaching
No matter how well-established her business, getting a fresh perspective is important. Whether it's marketing or business development, coaching is a fantastic gift that helps her step back from running daily operations for a while to focus on direction, goals, and planning.
1. Business Image Consultation
Whether she is standing at a podium or sitting at a baseball game, personal presentation is vital. In business, you can meet potential partners and clients anywhere at any time.
Give her the gift of self-confidence and security knowing that the first impression she makes is right for the business she is in, and for the people she is dealing with. It's a gift that lasts a lifetime.
Subscribe to:
Posts (Atom)