Quick Guide For Women BIZ Experiencess By Debra Phillips, Cynthia E. Griffin, Heather Page and Melissa Campanelli
With women launching businesses at nearly twice the nationalaverage, it's clear there's plenty of reason to beimpressed with the BIZ Experiencesial drive of what was once dismissedas the weaker sex. Yet now that the novelty has worn off-what, wewonder, could be more natural than a woman at the helm of her ownenterprise?-it's almost easy to gloss over the significance ofsome 8.5 million woman-owned companies in the United States.
We said almost. We're not prepared to shrug in theface of accomplishment, however. Women BIZ Experiencess are a force tobe reckoned with, now more than ever. Don't let the apparentquiet on the affirmative-action front fool you: News flourishes inthe community that is women's small business. This particularbrand of news, though, is of the personal, day-to-day variety. Youknow-the kind of story that's your own.
"That first year [in business], I'd have nights whereI'd [think], 'What have I done? I'm going to lose myhouse; I'm going to lose everything,' " saysLaurie Kahn, 44, reflecting on her initial fears about the launchof Chicago-based Media Staffing Network in 1993. "But it'sbeen a wonderful experience."
"I never thought I'd have anything to do withbusiness," echoes Heather Howitt, 30, who founded Oregon ChaiInc., a Portland-based chai tea company, five years ago. "ButI'm so glad I'm doing this now because I can make adifference."
Strength In Numbers
Since 1982, the sales generated by women-owned businesseshave increased nearly 638 percent.*
1982 - $240.8 billion
1987 - $681.4 billion
1992 - $1.6 trillion
1997 - $3.1 trillion
- adjusted for inflation
Source: SBA Office of Advocacy
A Matter of Style
Making a difference is what women BIZ Experiencess are indeed doingin today's workplace. As chronicled by the National Foundationfor Women Business Owners, flexible scheduling, employee autonomyand treating workers as part of the family are all innovationschampioned by women.
"We share the same vision," says Michelle LemmonsPoscente, 36, explaining the rationale behind her titles-free,open-book management style at Dallas-based International SpeakersBureau Inc. Just how effective is this more democratic approach?Poscente's company, which books celebrities as stellar asformer president Jimmy Carter and comedian Jay Leno, recorded salesof $6 million last year.
Others make a difference by committing to socially responsiblebusiness practices (as is the case with Howitt'smultimillion-dollar Oregon Chai) and simply forming strongconnections with fellow women BIZ Experiencess. Connecting, in fact,seems especially important for women BIZ Experiencess. "I thinkwe have a kindred spirit," says Kahn, who belongs to varioussupport and networking groups.
Agrees Lemmons, "There is a need for women to share withtheir peers."
Doing It All
So does all this sisterhood suggest women BIZ Experiencess stillfeel there are barriers left to overcome? As we examine womenentrepreneurs in this special section of BIZ Experiences, arewe celebrating-or commiserating?
Well, perhaps both. "I think it's more difficult for awoman to start a business and run it successfully than it is for aman," says Lemmons. "But I also believe it's [anindividual] mind-set. If you're going to allow it to deter you,it will."
If there's one issue of paramount importance to womenentrepreneurs in 1999, however, it could very well be this: theunquestionable quandary of balancing business demands with personalones. "It gets frustrating," acknowledges Kahn."You're trying to keep up your friendships, you'retraveling, and you're trying to make sure you have cleanclothes. Sometimes it's really crazy."
"I dream about chai," laughs Howitt. "I neverleave it at the office-but I don't want to, either. I love it.[My business] is on my mind 24 hours a day." As passion goes,we'd say that's pretty amazing.
Dream Builder
I like to say I got into this line of work by default,"laughs Phyllis A. Adams, founder of Phylway Construction Inc. inThibodaux, Louisiana. Adams got her fateful start in constructionat the age of 17, when she went to work at her father's generalcontracting business as a temporary receptionist. Three monthslater, she applied for a full-time job. "[My father] gave me ahard time," she remembers, "but he finally gave me thejob."
A diligent employee who worked hard to gain the respect ofothers, Adams moved up through the company ranks during the 16years she worked for her father. In 1992, with a keen understandingof the technical and operational aspects of the business under herbelt, she started her own highway and heavy constructioncompany.
It's perhaps an unlikely beginning for the company we'venamed the No. 1 woman-owned business of the year. But for a womanwho started with just $10,000 in savings and an old dump truck,Adams has succeeded in building the business of her dreams."We improve the living conditions of a community by connectingroads and highways or improving drainage," enthuses Adams, 39.It's so wonderful to see the positive impact of ourwork."
It was an unexpected turn of events that brought work Adams'way when she was just getting started in 1992: Hurricane Andrew.Called in to aid in the storm cleanup, she increased the size ofher crew, brought in extra equipment and worked around the clock toget the job done.
From there, the business took off-1998 sales are expected to hit$14 million-thanks to its well-earned reputation and Adams'infectious positive attitude and team-player mentality. "As acompany, we've worked on building open communication andtrust," she says. With those attributes on her side, we trustthat whatever Adams builds, success will come.
Get With The Programs
Even the most successful BIZ Experiencess need a little help nowand then. If you're seeking capital, looking to improve yourbusiness skills or still attempting to get your company off theground, investigate the following programs. They offer not onlygreat information to help you run your business but also a venue tomeet other women BIZ Experiencess with whom you can network, discussideas and build solid business relationships.
SBA Stories
The SBA's Office of Women's Business Ownership (WBO) isco-sponsoring a number of new initiatives.
On April 8, the WBO will join forces with Victoriamagazine to host a day-long seminar at the New York City Marriottin the World Trade Center. Among the activities planned arediscussions on defining a market niche and exploring its businesspotential, the challenges of creating a company, financing,technology, and sales and marketing. The cost to attend is $189,and reservations must be made in advance by calling(201) 681-7800.
Edward Jones, a full-service financial firm, and the WBOcontinue to jointly sponsor satellite conferences to provide womenentrepreneurs with the skills they need to run their businesses.For details on the next broadcast, contact one of Edward Jones'4,000 offices nationwide.
Certified Success
In 1997, the Women Business Owners Corp. (WBOC) launched theNational Certification Program for women BIZ Experiencess to help themcompete for corporate and government contracts.
This national program eliminates the need for multiplecertifications. To qualify for certification, companies must be atleast 51 percent owned and operated by a woman.
For information, call WBOC at (561) 848-5066 or fax acertification application request to (561) 881-7364. The processtakes one to three months and includes a site visit and anevaluation by private and public-sector firms, an accountant, anattorney and a woman BIZ Experiences.
High-Tech Help
The Forum for Women BIZ Experiencess (FWE) promotesentrepreneurship for women in technology and the life sciences byproviding education, access to resources, and networkingopportunities for women starting or growing their companies.
The organization has about 450 members and focuses on helpingwomen in the San Francisco area. The FWE BIZ Experiences Match.com,for example, is a networking session held quarterly that featuresan informal business-plan contest. There is also the FWE eSeriesprogram, a block of eight seminars that provides assistance to 20women in the early stages of developing their companies. Only theCEO, president or founder is eligible to participate in theprogram, which goes beyond the basics of growing a business. Twonew eSeries begin in May; the deadline to apply is April 15. Thecost is $150 per person; participants are also expected to join FWE($125 a year). To register, call (650) 470-0938.
A Day In The Life
Recognizing that BIZ Experiencess don't always have time toattend seminars to help them grow their businesses, the AmericanWoman's Economic Development Corp. has created one-dayworkshops, called "Access to Capital," that combineinformation on marketing, finance, sales and other skills into aday-long program.
The next workshop, in January or March, will target women inWestchester, New York, but is open to all women in the tri-statearea. The workshop costs $65. Advanced registration is recommended;call (212) 692-9100.
Final Frontier
Is the technology industry the one place you'll still findblatant gender discrimination in the business world? To hear manywomen tell it, the answer is yes. While many women BIZ Experiencessare starting tech businesses for obvious reasons-it'sthe hot industry with seemingly limitless opportunity forthose with the right skills and innovative ideas-others are doingso to break away from companies that aren't listening to whatthey have to say.
According to a 1997 study of more than 100 women high-techemployees by Women In Technology International (WITI), aprofessional organization in Sherman Oaks, California, many womenmiddle managers believe science and technology companies operatelike old boys' clubs. Survey respondents said their ideas hadbeen repeatedly stolen by male co-workers and they were oftenexcluded from key meetings and brainstorming sessions. Also, fewhad role models at work with whom to discuss their concerns.
A high percentage of the survey respondents had left largehigh-tech entities to start their own companies, in part because oftheir frustrations. But the study also showed that in many cases,high-tech women BIZ Experiencess founded companies simply because theyhad what they believed was a novel BIZ Experiencesial idea, and theywanted to put the idea into motion.
Unfortunately, however, many women in the study haven't goneout on their own. Perhaps the main reason is they're havingtrouble finding backers. VentureOne, a San Francisco company thattracks venture capital investments in the high-tech industry,recently found that less than 10 percent of all high-tech venturecapital goes to women BIZ Experiencess.
Will venture capitalists begin taking women-owned high-techbusinesses seriously? The recently formed Viridian Capital in SanFrancisco was created specifically to fund women-owned tech andhealth-care companies. That's good news for women-as long asthe market can support it. Without financing companies like thisand other advocates, women-owned tech businesses may feel thestrain. At this point, however, only time will tell.
Leading The Pack
Who said being a woman in a male-dominated industry is adrawback? As more women are becoming tech BIZ Experiencess,they're finding the qualities that make them strong businessowners are helping them succeed despite the odds.
Renee Courington knows what it's like to be a woman in themale-dominated technology industry. She spent many years developingsoftware at several high-tech firms before founding All BasesCovered, a Redwood City, California, computer support servicescompany, with her husband in October 1997.
As a business owner, Courington's gender works to heradvantage. "I believe part of my success has come from being awoman," says Courington. "[I] help customers solve theirproblems rather than talk techno-babble about the latestproduct." Customers obviously appreciate her strategy: Hercompany saw 1998 sales of $5 million.
Being a woman tech BIZ Experiences may help Courington'sbusiness, but it can also be isolating. That's why she joinedthe Forum for Women BIZ Experiencess, a regional group of women CEOsand business owners in high tech. The group offers her an outlet todiscuss issues she faces as a woman business owner; she also hasthe chance to speak to women having problems starting their ownhigh-tech businesses.
Her advice to them? "Understand it's going to take 10times the amount of money to start a business as you think, and 10times as much time as you think to start to see a revenue streamcoming in," she says. "And you have to be prepared forthat."
Dun & Bradstreet and BIZ Experiences's Women BIZ Experiencess Of The Year
Dun & Bradstreet (D&B), with the world's largestbusiness information database, tracks 49 million companiesworldwide, 11 million in the United States alone. Businesses useD&B's services to find new customers and evaluate theircredit-worthiness, identify potential suppliers, and collectoverdue receivables.
For more information about D&B, call (800) 234-3867 or visitthe D&B Web site at http://www.dnb.com
Find out the Top 10 Women who D&B and BIZ Experiencesconsider to be Women BIZ Experiencess of the Year.
Contact Sources
All Bases Covered, (650) 654-1980,(949) 474-4190
Media Staffing Network, (312) 944-9194, laurie@mediastaffingnetwork.com
Oregon Chai Inc., (888) 874-2424, ext. 28, http://www.oregonchai.com
Phylway Construction Inc., (504) 446-9644,phylway@phylway.com
VentureOne, (415) 357-2100, http://www.ventureone.com
Research by Victoria Neal and Meredith Russell
