May 7, 2010
Why Can't A Woman Be More Like An Entrepreneur?
Why Can't A Woman Be More Like An Entrepreneur? By Cliff Ennico www.creators.com "I'm a big fan of your column, but you don't say much about the special problems women face when they start their own businesses. Do you have any suggestions or tips on how a woman can succeed in what has traditionally been a 'man's game'?" I'll do a lot better than that. It's no secret that women are launching businesses at twice the rate of men. In fact, women-owned businesses are the fastest growing segment of the U.S. economy. But here's the rub: fewer than three percent (3%) of the country's women-owned businesses gross a million dollars or more in revenue. To address this imbalance, I can do no better than to refer you to my good friend Susan Wilson Solovic, the CEO and Chairman of SBTV.com, the first video news and information destination site for America's small businesses, and the author of a new book, "The Girls' Guide to Building a Million Dollar Business" (AMACOM, $21.95). [Full disclosure: I am not an impartial observer when it comes to Susan's work. I am currently the Legal Editor of SBTV.com, as well as the co-host with Susan of an Internet radio show on VoiceAmerica.com. But just because someone's my friend doesn't mean I can't applaud when she does something really, really good. Besides, I can give you my personal assurance she has "walked the walk" more than the vast majority of business book authors ever have.] Susan's book is an essential read for anyone -- male or female - who wants to grow their business beyond the "Mom and Pop" stage. And it's unique. Most people writing "women in business" books have a "Scylla and Charybdis" problem (for those who have forgotten their Greek mythology, go to ( www.2020site.org/ulysses/scylla.html for a quick refresher before you read further) - steer your boat too far one way, and you fall into the trap of saying that "women must act more like men to succeed in the business world"; steer too far in the other direction, and you find yourself falling into the opposite trap by saying that "women can find success by embracing their femininity and rejecting a male paradigm for their businesses." Building on the success of her previous book, "The Girls' Guide to Power and Success," Susan avoids both "traps" by highlighting those things that all entrepreneurs - male or female - must do to grow their businesses, in a way that doesn't make those things seem particularly "masculine". Some of Susan's key points: Developing the right team - Susan rightly points out that "an owner of a small company can be one of the gang; as you grow your business, however, you need to act, look, think like and BE the CEO - the leader, the boss." Creating a unique market strategy through "branding" - don't try to do everything for everybody, but focus on what it is you really do best and build a name for doing it better than anyone else. Securing the essential funding - in Susan's words, an entrepreneur must "take full advantage of commercial loans and lines of credit. Get comfortable using other people's money. Dare to venture into venture capital." You don't need testosterone or a Y-chromosome to do any of this, folks. In her book Susan gives some amazing examples of successful female entrepreneurs like Gayle Martz, CEO of Sherpa, innovator in pet travel bags; Dany Levy, founder of DailyCandy.com; Maggie Laughlin, who started her own specialty advertising services firm at age 23; and Rebecca Boenigk and Jaye Congleton, the mother-daughter team behind a booming ergonomic chair manufacturer. "There's nothing wrong with being ambitious and making money," Solovic stresses, urging every woman to believe in one powerful statement: I DESERVE TO BE SUCCESSFUL. "It's your time and your turn," she assures her readers. "Be among the ranks of women who are living the lives they so justly deserve. This book will give you the tools, the insight and the resources you need. The rest is up to you." Amen. And guys, don't be afraid to pick this book up. You might learn something. Cliff Ennico ( cennico@legalcareer.com ) is a syndicated columnist, author and host of the PBS television series 'Money Hunt'. His latest books are 'Small Business Survival Guide' (Adams Media, $12.95) and 'The eBay Seller's Tax and Legal Answer Book' (AMACOM, $19.95). This column is no substitute for legal, tax or financial advice, which can be furnished only by a qualified professional licensed in your state. To find out more about Cliff Ennico and other Creators Syndicate writers and cartoonists, visit our Web page at www.creators.com . COPYRIGHT 2007 CLIFFORD R. ENNICO. DISTRIBUTED BY CREATORS SYNDICATE, INC. Permission granted for use on DrLaura.com.

Posted by Staff at 1:50 AM