When It Comes To The Talent Of Women In Business, The Glass Is More Than Half-Full

In The Center For Women's Leadership

While corporations worry about how to keep women in their leadership pipelines, they might do well to take a cue from the women who are running businesses for answers. 

The 2003 Woman-Led Businesses in Massachusetts survey -- conducted by The Center for Women's Leadership at Babson College and The Commonwealth Institute -- of more than 250 women chief executives found a rich pool of leadership role models.  These women CEOs lead firms generating more than $7.5 billion in revenues across an array of industries; from high tech to apparel, from construction to office products, from professional services to manufacturing. 

A couple of highlights from the survey:

• Woman-led companies are growth oriented.
 
• Further, the focus on growth takes a long-term view. 
 
• To support that growth focus, woman-led businesses have built organizations that look a bit different. 
 
• The talent pipelines at these firms are full and succeed in advancing women.

• Women CEOs have been highly successful in weaving together their business careers and private lives.

√ Note: Companies questioning how to enhance the pool of women managers ready to take on senior management positions might do well to take a cue from women chief executives. A few suggestions are clear.  Focus on building collaborative value, seek consistent growth through customer focus, and be sure there are at least a few senior executives to model the ways in which women successfully lead.

A taste of freedom

In Arizona Republic Online

This article on 15 Afghan women visiting the Valley to study business makes you really appreciate the freedom we have here in the United States to pursue just about anything, including entrepreneurship.

A New Class of Global Entrepreneurs: Americans Under 50!

In Forbes.com

My goodness ... are we contradicting ourselves? Today, Forbes reported in an article, "Home Grown Seed Money," that most entrepreneurial activity is carried out by people aged 25-34! The Global Entrepreneurship Monitor released a survey that was conducted by Babson College and the London School of Business. The survey concludes:

• Most entrepreneurial activity is carried out by people aged 25-34 regardless of the income level of their home country. Low-income countries have the most entrepreneurial activity across all age groups, followed by high-income countries. Most people launching a business are already employed.

If you are thinking about starting a business, you might want to check out the article. It finishes up by stating that self-funding and informal investment fuels development of 99.9% of new businesses.

A New Breed of Entrepreneurs: Americans Over 50

In USAToday.com (1/18/05) and WSJ (3/18/04)

Interesting how it took USA Today ten months to catch up to the WSJ's article, "Over-50 Set Minds Its Own Business." In that article (link unavailable -- I am referring to a clip I saved), it claims that the over-50 set are switching the word retirement for entrepreneurship. What I mean by that is instead of retiring, people over 50 are hell-bent on starting their own businesses. Hurray! It goes on further to support that claim with research conducted for AARP, a Washington-based membership group of people age 50 and older, by Rand Corp., a think tank in Santa Monica, CA.

What's the upshot: People are "doing this (practicing and then engaging in entrepreneurship) as a transition to retirement, or they tend to be working longer than those who are in wage-and-salary jobs," said Lynn Karoly, a senior economist with Rand and co-author of the study.

Now USA Today indicates older workers are coming to entrepreneurship's rescue, chasing self-employment because of:

• Corporate layoffs. Boomers want the security of being their own bosses when corporations are slashing payrolls, tossing fiftysomethings into a dicey labor market.

• Shifting values. Older workers want more flexible schedules to spend time with aging parents or on hobbies while easing into retirement.

• Aging Americans. The number of Americans age 50 and up will soar by 31 million by 2020, to 118 million, the Census Bureau predicts.

• Innovative technology. Many start-ups by older entrepreneurs are one-person ventures in home offices with a dizzying array of technology that didn't exist or was too pricey 20 years ago.

• Business savvy. Many corporate workers, entering their 50s, leverage management skills and retirement benefits to invest in start-ups.

Stereotypical "Old White Guys" Still Serve On Most Corporate Boards

In The Idaho Statesman

An interesting article entitled, Albertsons leads the way for women, explains why there are not more women serving on corporate boards. Here are a couple of snippets from it:

• Larry Johnston, chairman, president and CEO at the grocery chain Albertsons, said putting more women in charge of large companies makes economic sense.

• "Women have insight into our customers that no man -- no matter how bright, no matter how hard working -- can match," said Larry Johnston, chairman, president and CEO at Albertsons. "That's important when 85 percent of all consumer buying decisions made in our stores are made by women. As we pursue a customer-focused approach to growth, the insight, knowledge and expertise of women is invaluable -- at every level in the organization."

• "It was a bunch of old white guys making erroneous assumptions and erroneous conclusions about women and the multi-cultural consumers that make up the majority of Albertson's customers," Flickinger said.

• "Companies must broaden their requirements for board directors," she said. "The number of women ENTREPRENEURS has skyrocketed — over 44 percent of the privately-owned firms are now owned by women. The problem is that current board directors aren't in the networks where women business achievers gravitate."

• There also continues to be a "glass ceiling" in corporate America where women can only progress so far in a company and many aren't given the opportunity to reach the executive ranks (... which brings us back to the reason for this blog!).

When you read the article, be sure to check out the right sidebar which highlights the top 5 largest companies and what percentage of women they have on the company's board as well as the snapshot at the impact women have on business.

More Women (and People of Color) Are Occupying the Top Seats At Big Companies?

In Computerworld

Interesting ...

"What's more, the few minority executives who are ready to step into top-level roles have other choices. Early retirement or entrepreneurship often is more appealing than joining the senior ranks of a corporation that's trying to diversify. "Why work twice as hard to get half as far?" is a common refrain among many highly paid minority managers in their 40s and 50s. "

To read the entire article, visit: Recruiters scout minority talent to help their clients diversify

A Simple Year-End Tribute To Women Entrepreneurs Who Have Escaped From Corporate America With Much Success

In The Salem News

Anyone NEVER had a desire to own a business? Then I am surprised you are reading this blog but since you are, let me reassure you that some day, you just might become an entrepreneur. Particularly after you read this short but "sweet" story about a woman who promised herself never to own her own company because her parents did (must have been a struggle). Fast-forward twenty-five years and this same woman runs a $3 million chocolate candy company!

Find out how longtime women entrepreneurs built their businesses to success and overcame obstacles in the process: Working women: Longtime entrepreneurs reflect on their experiences

Celebrating Women's Achievements and Possibilities

In Knowledge at Wharton (K@W)

Wharton Women in Business celebrated its 25th anniversary in November with a conference that focused on "Celebrating Achievements and Possibilities." While a keynote presentation by Andrea Jung, chairman and CEO of Avon Products, confirmed the (alleged) success that women are having in corporate America, panels entitled "Walking the Leadership Tightrope" and "Navigating through Interpersonal Conflict" suggested the challenges women still face in today's tough business environment. In this special section, K@W covers Jung's speech, the "Leadership Tightrope" panel and a second panel on "Building a Brand and Making Your Mark in the Luxury and Retail Sectors." In addition, they include coverage of a talk on leadership given earlier this fall by Sarah Nash, vice chairman of investment banking at J.P. Morgan Chase & Co.

To read the special report, visit:
Women in Business: Report from the Trenches

A Warm Reception For Female Execs

In BusinessWeek online

An excerpt from this fabulous article:

Karen Bressler, one of five CEOs to take the speaker's podium, talked about the work-life balance that has historically been the biggest hurdle for women in business. "Running a business is like being a kindergarten teacher sometimes," said Bressler, who runs Agar Supply, a $350 million food service outfit (No. 4). She advised her peers to take advantage of all facets of their personalities -- both the nurturing side and the tough side. Each of those qualities, "gives us an incredible edge."

To read the entire article, visit:
A Warm Reception for Female Execs

How To Duck The Three Most Common Entrepreneurial Hiring Traps

In Wisconsin Technology Network

Great article! Be sure to read: How To Duck The Three Most Common Entrepreneurial Hiring Traps

They Have A Dream: To Own Their Own Business

In Wisconsin's Business News Source

Who is Henry Ford? Why do they call it Disneyland? What did Mary Kay do? Virtually everyone knows that these dreamers turned their ideas into realities through good, old-fashioned entrepreneurship.

To find out more, visit:
Entrepreneurship: More than Fame and Money

"Pursuit of Passionate Purpose" and it begins with starting a company ...

Posted in Jack Covert Selects, 800-CEO-READ.com

"Pursuit of Passionate Purpose: Success Strategies for a Rewarding Personal and Business Life" by Theresa M. Szczurek, John Wiley & Sons, 304 Pages, $24.95 Hardcover, December 2004, ISBN 0471703249.

According to a December 2002 USA Today Poll, 30-million people are dissatisfied with their careers. This means that all those millions are not only unhappy but aren't reaching their full potential. The author found HERSELF in the same boat a few decades ago; after climbing the CORPORATE LADDER at a ferocious pace, she learned that her boss was sent to announce a new product that she (the author) had worked on for three years. She was conflicted. In her own words:

My head, the rational thinker had dominated decisions to this point. Now my heart, the creative feeler, cried out: What you really want is balance in life -- deep connection with people and meaningful work in an environment where people can contribute and be rewarded to the fullest. Make changes. Follow your heart, in harmony with your head. Pursue passionate purpose.

But she doesn't just use her own experiences as the premise for her book. She has interviewed 80 people and her findings are extraordinary. This is more than just a self-help book. This book has proven steps for successfully pursuing passionate purpose:

The ongoing process has four stages of development that are called:

1. Know and Nurture the Person (exploring who I am and what I value).
2. Find Passionate Purpose (determining what I want and do not want).
3. Pursue Purpose (establishing how I get it).
4. Assess Progress (evaluating how things are going and what is next).

She also has six success strategies that are applied throughout the above-mentioned process namely:

1. Polarity (integrating different parts of the self and the outside world).
2. Attraction (visualizing attainment of goals and taking action to reach goals).
3. Persistence (dividing and conquering big goals piece by piece).
4. Allowing (surrendering to the process).
5. Connection (establish a support system).
6. Pack (attending to the energizers and reducing impact of discouraging factors).

It obviously worked for her. The author started her own communications company that increased the efficiency of telephone computer transactions. She has since sold that company for $40 million. All this in just six years. The strategies in this book are tried and tested. See for yourself.

[Laurel here ... sounds like she got the entrepreneurial bug beyond belief! Has anyone else read this yet?]

My-oh-my: Watch Us Women Entrepreneurs Grow, Kissing Corporate America Bye-bye!

In BusinessWeek

A new study finds a boom in female entrepreneurship -- and a particularly healthy gains for minority women. According to the article, let's examine five key reasons why:

1. Women who want to start a business are seeing others who are doing it, and they think, 'Wow, I can do this too.'

2. The steady proliferation of capital and institutional resources has also helped make entrepreneurship a more viable option for women, allowing them more control from a professional -- and personal –- standpoint.

3. Because entrepreneurship is a direct path toward economic independence. "You're not waiting for someone to bring you out of poverty, and you're not waiting for someone else to give you a living wage or benefits."

4. Increased awareness of societal support –- including institutions like the Small Business Administration's Small Business Development Centers, local and regional chambers of commerce, and entrepreneurship incubators -- as other factors are driving the trend.

5. More women are becoming educated and developing stronger skill sets in the corporate world, adding to a pool of would-be entrepreneurs eager to branch out on their own.

Sure looks like women entrepreneurs are growing like mad and playing a vital role in fueling economic growth.

To read the awakening article, visit:
Women Lead the Startup Stats

Note: If you post this on your blog, please credit Escape From Corporate America! for bringing it to your attention -- thanks!

"I was tired of the large corporate atmosphere."

As published in the Chicago Tribune (11/28/04)

Diane Swonk, former chief economist for Chicago-based Bank One, was named chief economist for Mesirow Financial, a Chicago-based investment management firm.

Swonk, 42, said she took the job largely because of the firm's chief executive officer, James Tyree. "We just clicked," she said. "I was tired of the large corporate atmosphere. This gave me a lot of flexibility. One of my big issues was not only staying in Chicago but also finding a firm that is civic-oriented."

Swonk was at Bank One and its predecessors for 19 years. Bank One was acquired this year by J.P. Morgan Chase & Co.

"She's going to be providing economic information and forecasts to our clients," Tyree said. "We're now in 17 or 18 cities and are looking to expand our presence in each of them and I think she will help us do that."

Transformational Leadership Fits Entrepreneurship, Not Always Corporate Culture!

In Onrec.com (Online Recruitment, U.K.)

Transformational leadership begins with different beliefs about oneself and others. The first changing belief is that leadership isn’t a job but a way of being. The second is that, whereas in the past leadership meant power and control over others, today leadership beliefs begin with a desire to enable others to realize their own power and leadership potential. Thirdly, leadership in the past was based on believing it made people do things that you wanted done whereas, today, leadership is about a mutual relationship where each can transcend to a worthy purpose and behave with moral fibre, courage, integrity and trust.

In 1990 Judy Rosener published an article that showed how her research had found that women tended to be more transformational than men who tended to be more transactional. She argued that women encouraged participation in power and information and sought to enhance the status of employees. If we look at women entrepreneurs, such as Steve Shirley of F1 and Anita Roddick of Body Shop, a different leadership does emerge from that of many men.

Other interesting findings in this article published in the U.K.:

• It was found that women, on average, were more effective and satisfying to work for as well as more likely to generate ‘extra effort’ from their people.

• Women measured higher on all of the four elements of the transformational leadership tool, but the difference was closest on intellectual stimulation (men were better at intervening to correct followers’ mistakes).

• Women were more likely to be trusted and respected and show greater concern for individual needs.

• Women tend to be more nurturing, caring and sensitive than men and that these characteristics are more aligned with transformational leadership.

• Other studies since have found no significant differences in transformational leadership and gender in managers in equivalent positions. Is this because women are now being promoted by taking on male attributes or that men today are changing?

*** HERE IS THE CRUX OF THIS ARTICLE: ***

... What I have found is that when gender and transformational leadership is studied there is a remarkable difference when the women in the study are entrepreneurs rather than corporate women. ***Women entrepreneurs were much more likely to be transformational. With many women choosing to leave corporate life for self-employment, it is clear that transformational leadership doesn’t always fit the corporate culture.***

This excellent article goes on further to provide four ways in which women can bring their transformational leadership skills into the forefront whether it be through corporate work, entrepreneurship or using it on boards of companies and in public appointments.

To read the entire thought-provoking piece, visit: The Role of Gender in Transformational Leadership

Happy Thanksgiving and more!

Thank you to all of you for your readership, enthusiasm and comments. Your energy keeps me going on this passionate subject. Have a safe and enjoyable Thanksgiving. Now, on to our regular focus and this feature is a great one to share just before the holiday.

What I find ironic is that the following article was published in the "StatesMAN Journal.com." It's about how more Hispanic women own firms nationwide and are growing at six times the rate of all U.S. businesses! Here's a clip from the article describing one woman's struggle to make a success out of her business:

-> A framed copy of her first business contract hangs prominently in Josefina Anguiano's home office. She smiles at the reminder of sleepless nights and mounting bills that defined the first two years of running her own business. "When you first begin, all the doors are closed," Anguiano said. "And, there's no profit." This year, Anguiano, 36, expects to reach the $500,000 mark in contracts for her company, AFC Windows & Roofing Inc., which offers home-remodeling work, window and roof installation and gutter and chimney repair. Anguiano hardly is alone.

Adds Myra Hart, a Harvard Business School professor and chairwoman of the Center for Women's Business Research, "This is a positive sign for the entire country. At this crucial time for the economy, we're seeing that greater participation in entrepreneurship among women from a variety of backgrounds is playing an important role in facilitating economic growth."

To read the powerful account of how Josefina grew her business one step at a time, visit:
More Hispanic women own firms nationwide

Feel Successful ... Here's a Glimpse At How It's Done

According to a recent survey conducted by Gallup and Wells Fargo, 95 percent of women small business owners feel successful. Not only that, but 85 percent said they would start another business given the chance.

For anyone over the Thanksgiving holiday who is contemplating leaving corporate America to start a business, let the survey results propel you to just do it.

To read the article, visit: Survey says 95 percent of women small business owners feel successfull

Where Are The Women?

In Fast Company

Late this spring in Fast Company, "Where Are the Women? " (February) leaped from the page to the stage. Readers and members of Women in Technology International's New York chapter gathered at Sony Labs for an event to explore some of the issues affecting women in the workplace. Senior writer Linda Tischler, who wrote the article, and Mary Lou Quinlan, founder of strategic marketing consultancy Just Ask a Woman, led the discussion. Quinlan, who stepped down as CEO of the advertising firm N.W. Ayer in the late 1990s, shared three key reasons (outlined briefly below) for her career change -- and offered advice and ideas.

1. Keep track of quality time.
2. Take a (clean) break.
3. Plot your priorities.

Her most poignant remarks that relate to the purpose of this blog:

"I came back in and quit. I started a company. Now I'm doing my passion. Women will find their own way. They need to live a conscious career, not an unconscious one. Ask yourself: Am I happy? You have the right to ask that question -- and then do something about it."

To read the entire piece, visit: Women on "Women"

Nothing To Lose, A Lot To Gain

Posted by Anita Sharpe in Worthwhile's blog:

Who's the latest symbol of rugged American individualism? Hispanic women, who are starting their own businesses at a rate much greater than the U.S. average.

It's a no-brainer. While women in general earn 77 cents for every dollar a man makes, Hispanic women earn only 53 cents. According to a story in today's New York Times, Tina Cordova, who now owns a multi-million dollar construction company, could only find work as a waitress at a Sizzler -- despite having a master's degree in biology.

What's the secret of Cordova's entrepreneurial success? A flair for business, a very big stubborn streak and lots of flexibility. "If I had listened to everybody who told me we wouldn't make it, of course we wouldn't be here today," she told the Times. "I wish I could say I had this business plan, we followed it and everything just fell into place. This is not true."

To read the entry (and by the way, I am a subscriber to this great new magazine!), visit: Nothing To Lose, A Lot To Gain

Women Becoming Entrepreneurs: No Glass Ceiling Here

In Informit.com

This introduction to the book "Clearing Hurdles: Women Building High-Growth Businesses," provides an overview of the history of women in business leadership, and outlines a plan for women to succeed in entrepreneurial positions.

This is a fabulous book and if you haven't already read it, I suggest you do. If you have read it, let's hear from you! But in the meantime, it is a book for and about women entrepreneurs -- women who desire to become their own bosses, gain personal control, grow their business, and create independent wealth.

To read the intro and learn more about the powerful impact "Clearing Hurdles: Women Building High-Growth Businesses" will have on corporate America, visit: Women Becoming Entrepreneurs