Women's Business Blog

This is an important message to all women entrepreneurs!

My more than 35 years of business experience has shown me that women's natural ability to teach as well as build relationships provides many of the characteristics needed for them to be successful in small business. Business today is becoming more about challenging the customer with new information than it is about building a relationship in order to sell him.

Every individual has a story - where they started, what they did to move forward and how they see the future playing out. We envision our lives with definite relationships and economic lifestyles. Often we talk a lot about wanting more - money, comforts, personal relationships, power. Most often we do nothing about taking the necessary steps to produce the change we say we want.

As we enter 2012, the economy doesn't show any energy for providing job opportunities for those excited about getting back to work. Historically, recessionary times are the best time to start a new business. In my experience working with entrepreneurs, particularly women entrepreneurs, the long holiday season is the time when new business ideas are imagined, shared and planned. Once the new year begins and the rest of the world goes back to their treadmill lives, the entrepreneur digs in her heals and sets out to start her new business.

As a women's business coach, I have the privilege of hearing about my client's deepest wishes and needs. I am honored that I am given the opportunity to share in the ups and downs, highs and lows of each entrepreneur's business and often their personal life. It is from this experience that I can share with you the 3 things women in business really want for Christmas.

As the year comes to an end, small businesses owners are working harder than ever - often doing more volume with smaller margins. The consumer - whether B2B or B2C - wants more for less. The business owner - and particularly the woman business owner - must find ways to deliver the goods or service with every bell and whistle with a smile knowing that the compensation is close to break-even for the bottom line. 

There is a lot of pent up demand due to almost four years of survival purchasing only. Businesses and consumers have decided to resume their past consumption needs at least through the end of the year. This small uptick in spending has entrepreneurs working harder than ever to deliver without exploding their own bottom line.

Women entrepreneurs understand best how they must show appreciation to those they must depend on to get the job done. Asking vendors to increase a credit line, asking employees to work longer hours with less and asking customers to continue their patronage, women entrepreneurs know it takes a village to be successful in business.

The question on most entrepreneurs' minds is how to appropriately thank those who participate in making their businesses work. In an economic time when money is not an option, traditional bonuses are not possible. Interestingly, studies demonstrate that money is not always what is expected or wanted as a symbol of appreciation. Time and recognition rank higher on the scale for rewards. 

The last three years for those owning a small business have been---how can I say it politely---difficult! Many small business owners have had to forego their own salaries in order to make sure they can afford staff payroll, inventory and other overhead expenses. The question is how can 2012 be any different? What can you do to ensure that you can begin to see the light at the end of the tunnel?

"America is in a recession," you say. So how can you grow your small business?

As an author of a book on women's leadership, I am asked regularly about my opinion on the difference between men and women's leadership styles.