Business People – Page 51 – TP Javeton WebNet

The she factor

I recently read an article about women entrepreneurs and their performance as it relates to their male counterparts. I must admit that what I learned, although not shockingly surprised, was in many ways very enlightening and I’d like to share some of it with you.

According to the Center For Women’s Business Research there are over 10 million women-owned businesses in the US, employing 18 million people and generating $2.32 trillion in sales. Women start businesses at two times the rate of men, and women-owned businesses account for 28 percent of all businesses in the United States and represent about 775,000 new startups per year and account for 55% of new startups at the time of this writing.

One thing that I found particularly interesting was that the top growth industries for women-owned businesses in recent years were construction, wholesale trade, transportation/communications, agribusiness and manufacturing, industries traditionally dominated by men.

Trust. Intuition. Balance.

In the past 25 years the number of women-owned firms in the US has doubled, employment has increased four-fold and their revenues have risen five-fold. Here is the question I sought particularly to answer: Do women approach business differently than men? I’ve been compared to a bull in a china shop when it comes to business. Would a female counterpart approach things differently? More gracefully, perhaps? As my lovely bride would say, “Duh.”

In her book, How to Run Your Business Like a Girl, Elizabeth Cogswell Baskin explored common female traits and how women entrepreneurs – and perhaps men, as well – can use those traits to their entrepreneurial advantage. Baskin reported that women tend to use three unique strengths more than their male counterparts: trusting their intuition, focusing on relationships, and putting more emphasis on keeping their life in balance.

Trust your gut – Women are much more likely to make a decision based on a gut feeling. Women may gather the facts and figures necessary to back up that feeling, but they generally know what they want to do based on intuition.

Build strong relationships – Men play the game of business like a sport. They are out to win and dominate. “Women,” Baskin says, “are much more interested in establishing a connection.”

Find A Balance Between Work and Life – A number of women interviewed for this book cited on quality of life as their reason for starting a business, alluding to their desire to find a way to juggle family and work. “If having more time for your family is important to you, find a way to work that into your day. It’s not so much how much work you do, but being able to decide when you’ll do it.”

Good advice

Baskin offers one more piece of advice to women in the early stages of their business:

You Don’t Have To Know Everything.

My wife would argue this point because she really does know everything, but Baskin says when it comes to business, thinking you know everything is not the key to success.

“It’s amazing how many women say they didn’t know anything when they started their business,” Baskin said.

“Don’t be afraid to ask for help – you don’t have to be perfect at everything.”

Solid business advice: for guys and gals.

Here’s to your success!

Confidence

Studies have shown that successful entrepreneurs and home business owners possess certain characteristics, the most important of which might be confidence in themselves or, simply, self confidence.

So the question many would-be entrepreneurs may have to ask themselves is, do I have self-confidence? This kind of self-confidence refers to the magical power of having confidence in yourself and in your strengths and abilities. We’re not talking about bravado or blind and reckless daring, but an unshakeable belief in yourself.

Achievement oriented

Results are gained by focused and sustained effort so if you, as an aspiring entrepreneur, concentrate on achieving a specific goal and not just accomplishing a string of unrelated tasks then you probably have an above average chance of achieving success. But here is another question you may have to contemplate during your planning. Are you a risk taker?

There is a chance of loss inherent in pursuing any goal, yet you have the confidence necessary to take calculated risks to achieve your goals. So which of these three main characteristics is the most important? Believe it or not, it is self-confidence.

Without self-confidence, nothing else is possible. If you don’t believe in your abilities, then the first challenge that arises may knock you off the path to achieving your goals. Here are a few things to keep in mind for maintaining a higher level of self-confidence.

Positive thinking

It all starts with a positive attitude! Believing that something good will happen is the first step. Negative thinking is just not allowed (so stop it right now). You must truly believe that there are no circumstances hard enough to deter you from reaching your goals.

Try the exercise created by Og Mandino, author of The Greatest Salesman In The World – every morning for 30 days repeat the reading of one chapter of your favorite motivational book. If you don’t have one go out and buy The Greatest Salesman In The World. It’ll run you about $3.50 at Amazon.com. You might be surprised at the results this simple exercise will produce!

Remember too, that positive thinking can be contagious. When positive thinking spreads, it can open doors to new ideas, customers, friends, etc.

Persistent action

All the positive thinking and believing in the world is useless if it is not applied towards a goal. You have to take action, no excuses allowed. This action must also be persistent. Trying once and then giving up is not going to be enough. Keep at it one step at a time. If you can’t get by a certain step, then find a creative way to try again or go around it.

Entrepreneurs are people who make decisions, they take action and control their own destinies. They are often motivated by a spirit of independence which leads them to believe that their success depends on raw effort and hard work, not luck.

As Ronald Regan pointed out: Entrepreneurs and their small enterprises are responsible for almost all the economic growth in the United States.

Look ahead and see yourself where you want to be, maintain a strong belief in yourself and your skills, stick with it, and never give up. If you can do that, you’re already half way there!

We’ll leave you with a couple of quotes from Sir Winston Churchill (1874 – 1965):
“Success is the ability to go from one failure to another with no loss of enthusiasm.”
“For myself I am an optimist – it does not seem to be much use being anything else.”