Monday, March 30, 2009

Entrepreneurship Across the Generations

Make Mine a Million $ Business (M3) conducted a survey to examine what makes women tick and to explore attitudes on business and personal issues by examining stress factors and motivations, providing breakouts across generations, ethnicity, and revealing data on the changing dynamic of running a successful business during the various stages of motherhood.

The M3 Program is a community of more than 55,000 women entrepreneurs spread across the nation. The program was created by Count Me In for Women’s Economic Independence and American Express OPEN® in response to the fact that less than 3% of the 10.4 million women-owned businesses in the U.S. generate $1 million or more in revenues annually.

All entrepreneurs need to juggle both business and family responsibilities. But even with conflicting work and family demands, most M3 members feel they have achieved balance in their lives. One-third says they have a high degree of balance. Most importantly, achieving balance has NOT had a negative impact on level of business accomplishment. Attaining balance and business growth can thus go hand in hand.

What gives women business owner’s balance?

It’s not who she is but what she does that’s the difference. M3 women who have achieved a higher level of work-life balance are more likely to outsource household tasks, proactively book personal and family time into their schedules, and look out for themselves.

Thursday, March 26, 2009

A Little Puddle On the Floor

Don't you adore stories like this? It makes you want to go out and start a business, no matter how risky or scary it feels.
"There were a whole bunch of good old boys sitting around the table," she recalled. "And they looked at me and said, 'Honey ...' That was their first mistake. They said 'Honey, this exercise thing for women. We just don't know if that's gonna work.

"I was the little exercise girl," she said. "It wasn't that I was smart or that I had built a business. It was just, 'You're someone who can get up there and dance, and hoop and holler, and you look so cute in your outfit.

"Well, today they are out of business and I did $93 million (in sales) last year."
Read the entire article here.

And her final comment:
So amid a global economic collapse, the little exercise girl dances on: "I'm going to keep doing this until I'm a little puddle on the floor."
Note: Judi Sheppard, pictured in the center, is founder of Jazzercise.


Tuesday, March 24, 2009

Recession-busting Women Entrepreneurs

Research carried out by Continental on behalf of independent invoice financier Bibby Financial Services, showed that 79% of small business owners are taking positive, practical steps to get through the recession.

And in the process, it's a new breed of entrepreneur who is rising to the top: women aged 45-64 and living in the S.E. (not sure if this is in the U.K. or applies worldwide).

Read more here.

Resources:

Bibby Financial Services
Continental Research

Hat tip to: Twitter.com/TUPPIES. And, by the way, Twitter me at twitter.com/Laurel Delaney.

Saturday, March 21, 2009

The Imagination of Entrepreneurs

Obama is right when he says that what our nation needs is the "imagination of our entrepreneurs." He understands that linking bold ideas with timely action is the way to take the country forward.
Read more of "Obama as Entrepreneur-in-chief" by Messrs. Craig Benson and Leonard Schlesinger here.

Note: Pictured above is Marie Curie who discovered the mysterious element radium. It opened the door to deep changes in the way scientists think about matter and energy. She also led the way to a brave new era for medicine and the treatment of diseases.

Wednesday, March 18, 2009

Opt-in To Entrepreneurship

If you’re thinking about starting a business, don’t give up just because the economy looks bleak. That's what Jacalyn Barnes says over at the Women Entrepreneur | SCORE blog.

She offers six tips on what you should be doing now to ensure your business launch is a success. Plus, she shares a link to famous people who started a business during an economic slump.

More here.

And separately but related, have you seen this? Deadline to apply is approaching.

Saturday, March 14, 2009

Manage Your Time and Get Paid For Your Work

One of the first lessons you learn when you become an entrepreneur is that you need customers to get started.

Here are some useful tips and resources to help you better manage your time and ensure -- lesson #2 -- you get paid for your work!

Wednesday, March 11, 2009

Introducing La-Z-Girl Furniture

Wait until the corporate folks at La-Z-Boy find out about my new idea: To launch a line of furniture for hard working women (like us) called La-Z-Girl! Okay, clarification. I am not going to launch it. Merely, I want La-Z-Boy to run with it but we will help them develop the concept (and take any finder's fee we can get for this brilliant idea). Plus, we will turn to all of you as a focus group on this project -- what fun!

I have been thinking about this for about two years now wondering why La-Z-Boy hasn't done it, especially with the current economic downturn. It's a perfect time to introduce disruptive products that will generate additional revenue streams for a company.

La-Z-Boy furniture folks are missing out on a whole new market for women entrepreneurs! After all, their slogan is: Comfort. It's what we do. How about a new one: Pamper. It's what we also do.

What do you think? Good idea or not? Let's hear from you.

Friday, March 06, 2009

Will Barbie Ever Become An Entrepreneur?

Since 1959, Barbie has held more than 108 jobs over the course of her 50 year career -- from Olympian to astronaut -- but has Barbie ever been an entrepreneur? Don't you think it's time?

She's considered the ultimate career woman but when is Mattel going to wake up and let Barbie create her own destiny?

Read more here.

And you gotta see this!

Tuesday, March 03, 2009

To Get More Out of Life, Sometimes You Have To Walk Away

For Alison Greenberg who was 12 years into a successful career with a leading New Jersey law firm when starting out on her own, it was a small price to pay.
“I walked away from a lot,” she says. “I was a partner. I had a good salary and opportunities for bonuses, but I wanted to be more of a community-based lawyer and to reinvent the practice of law for myself. I also lived in Manhattan so I wanted to work where I live and get more involved with community issues and politics.”
She started her own business litigation and employment law practice in New York six months ago and hasn’t looked back since.
“I had two clients when I left and there was a lot of initial uncertainty of where the business was going to come from,” she says. “But I was always weighing the pros and cons of being part of a large firm and felt that to be true to myself and be able to represent more individuals and small business owners it would be better to go out on my own. It’s different now, and I’m living on a different budget but it’s very rewarding.”
Read more about Alison's soul-searching journey and others like her -- here.

Friday, February 27, 2009

Women Hold The Purse Strings

We just love this new, powerful site for women called WOMEN-omics -- the first website focused on the theme of promoting women as an economic opportunity. The site is the brainchild of Avivah Wittenberg-Cox, a consultant, executive coach, author, entrepreneur and publisher of WOMEN-omics.

Great quote:
Men like to believe they run the world. They are not ... read the balance of it here.
Take a moment to explore, learn, grow and engage at WOMEN-omics where they claim women worldwide hold the purse strings.

Tuesday, February 24, 2009

Time To Go Independent

Oppenheimer & Co. banking analyst Meredith Whitney (pictured above) -- known as the woman who moves markets -- is leaving to start her own business.

Now the question I have to ask is this: Did she leave because of a financial meltdown -- in spite of it -- or, neither?

Quote from Meredith:

"I don't want to work for anyone else anymore, and I want to broaden what I do."

Other interesting parts to the article, "Meredith Whitney: A league of her own," published in Fortune's CNN Money.com:
The firm that bears her name will be grounded in her research (her "true passion"). But it won't be just about issuing notes to clients. She eventually intends to advise companies as well. And in March, she will be on a steering committee to advise the G20 on how to respond to the credit crisis.

As head of her new firm, Whitney, who currently hosts gatherings in her home where professional women can swap ideas and hear thought leaders, plans to host a "salon series" in her offices with writers, government officials, regulators, and business luminaries. It could be a big value-add for clients who want access to bold-face names and original ideas.
Based on her good looks and obvious talent, I vote she takes her business immediately to television. Check out her new firm: Meredith Whitney Advisory Group LLC.

And let's applaud Meredith for having the courage get going with her own business!

Friday, February 20, 2009

Shattering Barriers For Women

If you can't beat'em, break'em, that's what I recommend. Let's give a big welcome to Nicki Gilmour, founder, The Glass Hammer, who is helping women break through glass ceilings.

The Glass Hammer is an online community designed for women executives in financial services, law and business. You can discover issues that matter, share experiences, network, get career advice and plan your life. And, as you dig around her new community, grab yourself a new job (that is, if entrepreneurship is not your thing :-).

Visit The Glass Hammer here.

Wednesday, February 18, 2009

An Educational Program of Our Own

Whether you run a business or head up a multi-million dollar division of a Fortune 500 company, lifelong learning is vital to ensure personal and professional growth. And business schools are here to help by offering programs specifically tailored to women.

The programs deal with everything from attaining leadership positions to entrepreneurship to issues of work-life balance. Here's a sample of programs that came out of the article, "A Female Face on Executive M.B.A.s," published in the WSJ on January 21, 2009:

Executive Program for Women Leaders
Where: Stanford University Graduate School of Business
Cost $9,200

Moving From Managing to Leading: The Women's Program at Babson
Where: Babson Executive Education
Cost: $5,950

Women's Director Development Program
Where: Northwestern University's Kellogg School of Management
Cost: $5,500

Strategic Leadership for Women
Where: IMD in Switzerland
Cost: $8,972

Global Leaders Program for Women
Where: Smith College/Dartmouth College's Tuck School of Business
Cost: $8,200

A New Path
Where: Harvard Business School
Cost: $5,000

Friday, February 13, 2009

Captains Of The Universe

Captains of the universe, I mean, chief executives at eight banks and securities firms that have received U.S. $165 billion in federal aid have been barraged by U.S. lawmakers. Who's missing in the photo?

O women entrepreneur where art thou?

Pictured left to right and seated in alphabetical order at a long table: Lloyd Blankfein of Goldman Sachs, James Dimon of J.P. Morgan Chase, Robert Kelly of Bank of New York Mellon, Kenneth Lewis of Bank of America, Ronald Logue of State Street, John Mack of Morgan Stanley, Vikram Pandit of Citigroup and John Stumpf of Wells Fargo

[Added 2/20/09: ABC News Video: Should Women Rule the World? You gotta watch.]

Wednesday, February 11, 2009

Best Time To Start a Business? When You Are Good and Ready!

You can analyze things to death but really, the best time to start a business is when you are good and ready.

Read what two women went through before a light bulb glowed: "Do your own thing!"

And we covered a similar piece here on January 16, 2009 under the headline: Frightened About Your Corporate Job? Become An Entrepreneur.

Monday, February 09, 2009

Keep on Trucking Women Entrepreneurs

This is such an inspiring story of how a woman, Cheryl Womack (pictured), goes from being a mom to running a business (at the same time of course), to making the business a huge success, to selling it, and eventually ... starting a nonprofit called The Leading Women Entrepreneurs of the World. She's an amazing woman and a role model for us all.

Quick snapshot:
One of 11 children born to Panamanian immigrants, Womack first made her mark with VCW, which sells insurance to independent truckers. That company, which she started with just $17,000 in 1983, was worth more than $100 million when she sold it in 2002. Currently, she manages a nonprofit called the Leading Women Entrepreneurs of the World, helping others on their way up. Married and the mother of two, Womack recently pledged $2 million to build a women's softball field at her alma mater, the University of Kansas.
Read the full spread (including viewing the slideshow) over at Oprah.

We need to get Cheryl to contribute over at Women Entrepreneurs GROW Global (WEGG)!

Thursday, February 05, 2009

Monday, February 02, 2009

Women Entrepreneurs Growing in Numbers

Is there a good, better or best time to start a business? Probably not. When you are ready, you're ready and nothing is going to get in your way -- even if times are tough.

Nancy Michaels authored this piece (not sure how old it is but it appears to still be relevant) published in U.S. News & World Report, special advertising section. She offers some good tips.

DON'T UNDERVALUE YOURSELF. Women tend to give away too much and charge too little, Learned says, especially those in service-based businesses. Learned suggests women in the service industry adopt value-based fees, rather than hourly. This involves pinning a dollar amount to your knowledge and services, and charging per project, not per hour.

REMEMBER WHY YOU STARTED YOUR OWN COMPANY. Women can quickly lose site of their desire to have a balanced life in the face of a demanding new business. Gilmore says she regularly has to stop and weigh the value of the task at the moment against her personal needs.

NETWORK, BUT IN A WAY YOU FEEL COMFORTABLE WITH. Many people who go into business for themselves flock to networking groups because they believe it's the smart thing to do. This is true for men as well as women. But depending on your personality and preferences, these groups may not be the best forum for networking.

DON'T FORGET YOU ARE RUNNING A BUSINESS. Piling on the work/life benefits won't do anyone any good if doing so cuts too deeply into the company's bottom line. "One of the biggest lessons I've learned is how to create a culture that is attentive to the individual and allows you to still make it as a business," says Gilmore.

DON'T BE AFRAID TO PROMOTE YOURSELF.
"If your business is to thrive," says Glaser, "you must market yourself and take credit for your achievements. If you don't market your business, no one will know what you have to offer."

Thursday, January 29, 2009

10 Women To Watch In Technology

Mass High Tech honors women who excel in technological innovation, entrepreneurship and community involvement for their work as leaders in their field through the 6th Annual “Women to Watch” Awards, announced recently by Mass High Tech: The Journal of New England Technology.

It's obvious that these women bring technology out of the closet and into the public domain where we all benefit.

The 10 very happening women to watch in 2009 can be found here.

Wednesday, January 28, 2009

Intuit Gets It

Intuit has announced a small business “stimulus package” that will provide the 27 million small businesses around the country with a monetary boost totaling $1,000 per small business and more than $350,000 in grants and donations.

They are doing their part to give us entrepreneurs and small business owners the support we need.

Read more about Intuit's offerings here.