Why Women Entrepreneurs are the New Face for Small Business by Angela Jia Kim
By: Angela Jia Kim of Om Aroma Skincare
Founder: Savor The Success A boutique social network for Female Entrepreneurs
Did you know? 10.1 million firms are owned by women. That’s more than 50% of businesses in the U.S.
How about this? Women entrepreneurs are employing more than 13 million people.
And check out this impressive statistic: Their businesses are generating $1.9 trillion in sales as of 2008.
Why is it that it seems that women entrepreneurs are rocking the world with entrepreneurialism?
1.The Internet
The online world has revolutionized the way people do business. It has evened out the playing field for big and small business, and women entrepreneurs are stepping up to the plate.
They have SEO-friendly websites, submit product samples for blog reviews, and many of them are social media animals. This is a recipe for success when more than 50 million people now rely on the internet to make their shopping decisions.
2.Collaboration vs. Competition
Cat fights are out, scratching each other’s backs is in. Despite what we see on America’s Top Model, women actually do enjoy helping one another in mutually beneficial ways. Even though at first glance it may seem that certain businesses should be competitors, women are finding strategic ways to partner.
At savorthesuccess.com, women entrepreneurs form cafes according to their interests. The sharing of advice and knowledge is a wealth of information that everyone can benefit from.
Savor’s beta 7-Figure Club is a pod of 6 women who meet via teleconference twice a month to help one another reach the $1 million or more mark. Each member shares her current goals and struggles, and the other women give their advice, contacts, and know-how.
It’s a win-win situation proving scratching each other’s backs is not only nice, you get ahead more quickly, too.
3.Creativity not Capital
Think you need lots of dough to launch a business? Think again. These days, you can find anything that you want online for cheap. If you search long enough, you can find marketing materials, PR tools, and help for your business using cost-effective and efficient methods.
While it is always easier to have up front capital, it is no longer necessary. You can accomplish anything you want if you have creativity.
4.Bartering
You need this and I need that? Let’s put our minds together and trade! Bartering is coming back in a big way, and women are jumping on the bandwagon using this creative method to get exactly what they need to reach their goals. Just make sure you put it into writing or you just may get burned!
5.Family First
Many professional women first decide that they are going to make the leap of faith into the entrepreneurial world when they have a baby and can’t stand the thought of not being with their child. Starting a small business can be the perfect solution if there is a well-thought out plan.
Moms who are staying home with their children can now work via the internet. They are able to start a blog or set up shop with a website. It no longer takes huge capital to start business… just a lot of creativity, which women have in spades.
Are you ready to rock your world? Have a dream that you want to make a reality? Ready to take your business to the next step?
Join us on May 6th for the Women Entrepreneurs Rock the World event in New York City. This all-day event is jam-packed with inspiring speakers, power networking, and break-out sessions to begin applying the powerful lessons. The first 100 people to RSVP get goodie bags. Don’t miss out! RSVP here: www.SavorTheSuccess.com/rock-the-world.
A big thanks to Angela Jia Kim from Mike Michalowicz, Author of The Toilet Paper Entrepreneur
April 3rd, 2009
Make us proud women!! ; )
April 3rd, 2009
Where did you get those statistics at the beginning of your article from?
April 3rd, 2009
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April 3rd, 2009
You hit it right on, those are great points.
I mean women in general think different then men and when applied to business, they think more long term potential.
The mom at home with kids and running a business is well known and makes sense. I personally hate when parents go to work and ship the kid off to daycare.
I mean why did you get a child if ur going to pay someone to take care of it for you.
April 4th, 2009
I couldn’t agree more – the networks of women I have gotten involved with have served my business more than anything else. I am a proud member of Savor the Success, the women that are part of the network are phenomenal, generous, smart and just plain incredible.
April 4th, 2009
I love this article because almost everything confirms what i have always believed about why women can succeed not just in business but also in life. Way to go!
April 4th, 2009
I am glad this article showed stats because I think many women do not often realize the potential or influence we provide not just as “shoppers or consumers” but more importantly how we effect/contribute to the economy as business owners.
I think once you have your own business you learn a lot about yourself and your skill set.
In particular, I think forming strategic partnerships is something that definitely should be a part of any successful business plan.
April 4th, 2009
About a decade ago, there was a stereotype about the women manager who was affectionately known as the Queen B (with the B standing for a word I will not type here). Such women were particularly nasty to other women.
I’m so glad times have changed. I wholeheartedly agree with everything you have here. Not to sound sexiest here, but I think we women small business owners also have a business sense that is different. We didn’t have an old boys network to pull us up or train us and we have no sense of entitlement. Many of us have done it all with street smarts and downright persistence. And because we’ve struggled, we’re more likely to help other women we see in the same position. I know I am. I’m grateful to the women who have helped me, too.
I can’t wait to check out the Rock the World event. It sounds awesome and I expect to learn a lot.
April 4th, 2009
I just ? it when women work to create ¸.•* ¸.•*¸.•* magic *•.¸*•.¸*•.¸ together. There is strength is our female energy that can’t be matched and is sure to move mountains. We can do ANYTHING we put our minds to. Go Girl Power!
April 5th, 2009
I’m doing some research for a client on the subject of corporate support for post-secondary education, and on the way ran into this from a speech to The Economic Club of Toronto in June 2006, by Barbara G. Stymiest Chief Operating Officer of RBC Financial Group.
“Much of the momentum within this new dynamic is coming from women. If you didn’t see it in the Globe a few weeks ago let me recall for you the conclusions reached in an article written by Heather Scofield and Tavia Grant: women are making the economy “go around”.
58 percent of all women of working age in Canada now have jobs. In the United States women are responsible for 100 percent of the growth in real household income between 1970 and 2004.48 percent of stock market investors are women. In developed markets around the world, women control or influence more than 75 percent of discretionary spending.
In the April 12th edition of the Economist magazine it is suggested that “…women are more likely to provide sound advice on investing their parents’ nest egg: surveys show that women consistently achieve higher financial returns than men do.”
Cool. Pay attention.
April 5th, 2009
It feels great to see so many women have the chance to own their own business and express themselves. Internet busineses keep women from ‘just’ being at home with ankle-biters. I know power and the hope of women-run, internet home businesses have kept many a woman from driving off a cliff at 3am!
April 5th, 2009
Angela, thanks so much for writing such an inspiring article. Go girls, go girls… and go one guy, go one guy (that’s me).
- Mike
April 5th, 2009
Great article and I can’t wait to pass it along and let EVERYONE read it.
I remember before I started my own business thinking to myself “Can I really do this?”. I was scared to death because I didn’t know the first thing about running a business. All I knew was that I wanted to be home with our girls and that I NEEDED to find some way to help financially, so #5 was a big reason I began this journey.
Thanks to the support of friends, family and the belief in myself I have been very succesful.
The best part is I am now helping other ‘WOMEN’ learn that they too can be successful business owners. The feeling you get when you help others is like NO OTHER!!!
Great to see so many Successful Women doing what they are passionate about!
Chill
April 5th, 2009
Angela hits the nail on the head and is inspiring so many women to take themselves and their dreams seriously. We do have the power, and need to lead our lives as if we know it! It’s vital that we support other women as we make our own way, stay true to who we are, and figure out what works for us as individuals. And, don’t forget to have fun!
April 5th, 2009
This article is wonderful and inspiring! As a business owner, I’ve been a member of many women’s organizations over the years and have to say that Savor the Success is unparalleled in what they provide women business owners. It’s the ONE place where I can absolutely say I learn something new every day. I love that passionate women are stepping up and putting their talents to work!!! Women Entrepreneurs Rock!
April 5th, 2009
Great post! Go ladies!!!!
April 5th, 2009
Savor the Success is an extraordinary social network for women entrepreneurs! Angela’s dedication through STS to empowering and equipping women, is brilliant! Two thumbs up!
April 6th, 2009
Hi! Thank you everyone for your comments.
Melanie, to answer your question, those stats were taken from the Center for Women Business Research. Thanks for reminding me that I should state where we got those numbers.
As for “Queen B” as Alisa comments, yes, times have changed!! I do wonder, however, if women entrepreneurs are the ones who are living their dreams and therefore have more in them to give to others. Sometimes those managers just hate their jobs and are completely disconnected from their source. This makes one much less apt to be a generous spirit.
Go, ladies (and the men who share in our spirit, aka Mike)! See you at the Rock the World event. We have women flying in from all over the nation and we can’t wait to meet you all.
April 6th, 2009
We, at My Stone Company, are so proud to be a part of Angela’s Savor The Success and have found it to be not only fun, but so helpful. Thank you Angela!
-Jill and The Friendship Stone Team
April 13th, 2009
Great post! Women entrepreneurs do rock!
Hazel Grace
@socialbees
April 16th, 2009
I love this article, esp. the part about competing vs. collaborating. I think we realize there are a lot of customers, and helping each other is only going to make both of us stronger.
The group you are talking about, Savor the Success, sounds awesome.
Thanks for the great article.
Jamie Bird
MiniMeBabyGear
April 26th, 2009
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