No Glass Ceiling: Why Entrepreneurship is the Answer for Women
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Presentation I gave at the Federal Way Womens' Summit in April 2016
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No Glass Ceiling: Why Entrepreneurship is the Answer for Women
- 1. No Glass Ceiling Why Entrepreneurship is the Answer for Women Jennifer Dye, SBDC BusinessAdvisor
- 2. Today we will be discussing: • The state of the marketplace for women • Qualifications that women possess that make them leaders • Benefits of entrepreneurship • How to begin!
- 3. The statistics tell the sad truth… • Women hold 52% of all professional level jobs, yet only • 14.6% are Executive Officers • 8.1% are Top Earners • 4.6% are Fortune 500 CEOs
- 4. According to Inc. Magazine, Women make Better Business Owners than Men Women are better at leading their teams • They see employees as whole people, not just “worker bees”. • They develop them with an intentional career path Women are more willing to implement systems and controls in their companies • They are more capable of enlisting team support • They are 1.7 times more productive than male-owned firms Women are better at building relationships • They are more customer-centric • This trend plays out with suppliers and vendors too
- 5. Further evidence… • Women are better listeners and therefore better communicators • Women are better community builders • Women have stronger business ethics • Women are more patient • Women are better at activating passion
- 6. Compare this with theTraits that all Successful Entrepreneurs Share Entrepreneur Magazine’s Five Key Characteristics 1. Passion 2. Perseverance 3. Resourcefulness 4. Open-Mindedness 5. Sponge-like nature Women have always been able to “Do it All”
- 7. Top 10 Reasons to be an Entrepreneur 1. Stick it to “The Man” 2. WorkYour Own Schedule 3. Work WhereYou Like 4. Work With PeopleYou Like 5. CreateYour Own Opportunities & Destiny 6. Develop and Sell Products & ServicesYou Love 7. Solve Problems and Make a Difference in the Process 8. Be the Boss 9. Stand Up forWhatYou Believe In 10. Affect Change in People’sThoughts & Actions
- 8. “I want to start my own business, where do I begin?”
- 9. No-cost Resources for Entrepreneurs • Small Business Development Center • SCORE • Startup Seattle • Local Colleges • Meet-up Groups • Business Incubators • Business Accelerators • Local Economic Development • Conferences
- 10. Business Readiness Checklist Is there a market for my product/service? What type of entity should I form? LLC, S-Corp? How can I obtain funding? Can you help me write a business plan? How do I forecast my sales for a loan? Can I afford to hire someone to help me? How do I find quality employees? How do I KEEP quality employees? How do I develop a marketing plan? Can you help me negotiate a lease? Can you help me find an attorney/accountant/bookkeeper/etc. Can you help me understand my financial statements? What taxes and licenses am I responsible for? Can you help me when I’m ready to grow? Can you help me when I’m ready to retire/sell?
Notas do Editor
- Hi, my name is Jennifer Dye and I am a Business Advisor for the Small Business Development Center at Highline College.
- Read slide
- Although the number of women seeking business degrees is increasing, and women in the workforce overall make up 52% of professional jobs, we still are not equally represented in top leadership positions. Although progress is being made, the glass ceiling is still very much a reality in corporate America.
- This is odd, because statistics show that women actually possess more of the skills that make a business successful.
- In a study conducted by Zeneger Folkman, a company that studies leadership, found that women rated higher on 12 of 16 attributes tested. After analyzing 7,280 of their clients’ performance evaluations, they found two traits where women outscored men significantly: taking initiative and driving results. Here are five additional ways that women are more effective bosses than men. Women are more discussion oriented Women are “beta managers” and build more cooperative relationships Women acknowledge and consider the rights of others Women are less likely to jump to an immediate conclusion or take action too soon According to Jay Forte, author of Fire Up! Your Employees and Smoke your Competition, women are more astute about knowing how to activate passion in their employees. Passion builds loyalty. The photographs shown here are those of women who have become global phenomena in the realm of Women in Business: Mary Kay Ash, Indra Nooyi, Oprah Winfrey, Martha Stewart, and Tyra Banks to name just a few.
- These women exhibit many of the traits thought to be vital to success. Of course, women have been holding down jobs while raising families, attending school, and volunteering in their communities so we are the queens of multi-tasking. Women have drive and are creative problem-solvers.
- Source: Chris Ducker, Virtual CEO
- So, maybe you are thinking it is time to stop working for “the man” and go into business for yourself. Where should you start?
- There are many free resources available to women who are considering opening their own business.
- Your SBDC or SCORE advisor can help you with everything from inception to expansion to succession planning