Women continue to open businesses in the U.S. at twice the
rate of men. So why don't they have million dollar bank
accounts that reflect their hard work? According to the
Center for Women's Business Research, there are 10.4
million women-owned U.S. businesses. What people aren't
talking about is that women-owned businesses aren't doing
all that well. According to the Women Presidents'
Organization (comprised of women whose businesses annually
gross over $2 million):
* About 43% of all women-owned businesses have revenue of
$10,000 or less per year.
* Over 70% have revenue of less than $50,000.
* Only 3% have revenue of over $1 million (compared with 6%
of men-owned firms).
Today's entrepreneurial woman wants control over whom she
works for, what she does, how she spends her time, and how
much money she makes. Most of all, she wants to know that
what she is doing is making a difference in the world. So
why aren't women-owned businesses more successful? Often
the barriers to business success for women are self-imposed.
What Women Do Wrong
1. They dismiss their intuition. They dismiss their inner
knowing. They don't take their intuition seriously. That's
not hard to do when today's business culture scoffs at
women's intuition, makes fun of their intuitive knowing,
and pooh-poohs intuitive insight. Intuition is not a hunch,
a suspicion, or a guess. Intuitive knowing is deep, sure,
and trustworthy. Know this!
2. They wait for approval and permission. Women have the
hardest time with this. Instead of making a decision for
themselves, they look to others for approval and permission
before making business decisions. Wake up! You do not need
anyone's permission to do anything. Men know this much
better than women do.
3. They think something is wrong with them. When something
goes wrong in their businesses, men focus on the business
itself, looking for things they can change, correct, and
fix. For women, however, it's just the opposite. When
something goes wrong in their businesses, women look for
things they can change about themselves. 4. They think
other people know best. Often their inner voice—what
I like to call a woman's Inner Samurai—is giving them
a clear indication of what is for their highest good and
greatest well-being. Yet, because that inner voice
conflicts with the advice and information they are getting
from the outer world (often from those around them), they
discount their inner voice in favor of another's voice.
What You Can Do Right
1. Look outward for support. Look inward for guidance.
Surround yourself with those who support your business
vision and daily business activities. Go inward for
guidance. Tap into your Inner Samurai. Understand that no
one knows you as well as you know yourself. What other
people think is best for you and your business is only an
opinion—perhaps a well-informed opinion, but an
opinion, nonetheless.
2. Say yes. This is one of the hardest words for women to
say. Women like to keep their options open, check
everything out, and test the waters before taking action.
Stop hesitating. Say yes. Move ahead. You don't have to
know how something is going to turn out before saying yes.
Just say yes. You can handle whatever comes up. You can
even change your mind.
3. Stop with all the positive thoughts and affirmations.
Being positive and saying affirmations are not enough. You
have to back those positive thoughts with focused,
definitive action in the direction of what you most want to
be, do, and have in your business. Fortune favors the bold.
4. Cultivate relationships. Women are naturals at building
relationships and connecting to others. Connect, certainly,
with other businessmen. However, be intentional about
cultivating relationships with other businesswomen. Forget
what they say about women being catty. Sure, some are. Most
aren't. Those are the ones you will intuitively be drawn
to. Connect with them to build strong, mutually beneficial
business relationships.
Women have been opening businesses at twice the rate of men
for many years now. However, they have not been as
successful at bringing in the big bucks as men. That's
because they try to run their businesses the same way that
their male counterparts do — from the head down.
Women, on the other-hand, do better when they build and run
their businesses from the inside out and from the heart up,
firmly connected to their Inner Samurai. Running your
business this way means that you are in control of your
financial future, you can have the life you've always
dreamed of, and you can be in the best place of
all—making a real difference in the world.
----------------------------------------------------
Susan L. Reid, DMA, Small Business Start Up Coach &
Consultant, is the author of Discovering Your Inner
Samurai: The Entrepreneurial Woman's Journey to Business
Success. Hailed as The Secret for business, Susan is known
for taking the fear out of small business start-ups for
entrepreneurial women. For intuitive small business
solutions, powerful attraction marketing tools, inspiration
and direction, visit http://SuccessfulSmallBizOwners.com
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