Over the past 20 years, the number of businesses owned by women has grown by more than 42%. In fact, in 2008, women-owned firms accounted for more than 1.9 trillion dollars in sales.
But while more and more women are eager to become small business owners, they’re also still facing more challenges than men. Businesses owned by women are nearly 50% less likely to reach the million dollar mark—and often produce less return on investment for hours worked.
A new study by Michele DeKinder-Smith, market research professional and founder of the website www.janeoutofthebox.com, has recently released a study that reveals five different types of female entrepreneurs. Each personality type has a different approach to business, along with different strengths and challenges.
Success can be defined in many ways and it’s clear that each of the five types have their own definition of success. Taken overall, if we consider business revenue and personal satisfaction with work/life balance, one might say that the type that is most conventionally successful is the type known as “Jane Dough”.
Why should we pay attention to Jane Dough? Comprising 18% of all female entrepreneurs, she’s five times as likely to hit the million dollar mark as the average female entrepreneur. She’s also one of the groups most satisfied with her work/life balance. So, if growing a large business while working reasonable hours is important to a business owner, she can learn from Jane Dough’s characteristics, behaviors and decisions.
Here are some of the traits that tend to make Jane Dough so successful.
1) Focus on growth
Running a business is filled with a ton of minor details, every day of every year. But Jane Dough has learned how to personally stay focused on the big picture: growing her business. This means getting past the details, the billable hours and the overdue invoices—and paying attention to the process of getting (and handling!) more business, in less time.
2) Building teams and systems
Jane Dough knows there’s only so much a woman can do by herself. Because business growth is an important goal, she’s learned how to build a team and delegate responsibility. This means using systems that create leverage and prevent her from falling victim to the ‘dollars for hours’ trap.
3) Prioritization
Along with a focus on growth and systems, Jane Dough tends to prioritize those activities that will make her the most amount of money with the least amount of personal time expended.
4) Looking ahead
How does Jane Dough stay so focused on exactly what she needs to do to grow a successful business? Well, many of these women started their companies with a big vision and/or they are intentionally building a business they can later sell or pass on to their children. These big, longer-term priorities help her stay consistently focused on the big picture.
5) Putting in the hours—but leaving work at work
Jane Dough is the type of entrepreneur who’s willing to put in the hours it takes to make her business successful. However, unlike some other types of female entrepreneurs, for whom business can be intensely personal, Jane Dough understands that work is work and that tomorrow is another day. Because she’s supported herself with systems that give her the flexibility to problem-solve when she needs to, she feels confident that she can and will be able to manage things during the hours she has designated for work. Yes, she might check her email in the evening after she’s home, but she’s not going to consistently find herself spending her personal time as a slave to demanding customers. Her ability to mentally keep work and personal life reasonably separated and her perspective and confidence that she can solve any problems tomorrow contributes to her higher-than-average work/life balance.
6) Confidence in marketing and selling
While many women in business express concerns about their ability to successfully market their business for profitability, Jane Dough is highly confident in selling both herself and her business. This confidence (which can be learned!) is a major factor in her financial success.
7) Perspective
When the going gets tough, Jane Dough stays focused, and doesn’t let doubt creep in. She tends to view challenges and setbacks objectively rather than personally, and keeps focused on her big picture goals. Jane Dough loves her business and she keeps it in perspective, as well.
Interested in learning more about the five Jane types and which Jane you are? Check out www.janeoutofthebox.com.
About the Author:
Michele DeKinder-Smith is the founder of Jane out of the Box, an online resource dedicated to the women entrepreneur community. Discover more incredibly useful information for running a small business by taking the FREE Jane Types Assessment at Jane out of the Box. Offering networking and marketing opportunities, key resources and mentorship from successful women in business, Jane Out of the Box is online at www.janeoutofthebox.com.
Month: October 2009
Categories
Privacy Tips for Small Businesses
Article Contributed by Heather Dorso from TRUSTe
You may be a small business, but chances are you collect some form of PII. Even small businesses are accountable for the safety of user PII, and thereby must take adequate measures to protect it. Lead Microsoft.com editor Monte Enbysk gathered TRUSTe’s insight to help develop 6 privacy tips for small businesses:
1. Take inventory of the personal information you collect and store.
2. Analyze how safely you use and store this data.
3. Make sure you’re complying with industry or federal laws.
4. Post a privacy policy that is clear and comprehensive.
5. Have your policy reviewed by an attorney or by a privacy seal program.
6. If you have employees, make sure their personal information is protected too.
According to Enbysk , you should seek the expert opinion of a privacy service like TRUSTe who can help ensure the accuracy and validity of your privacy statement. Not only may a third-party privacy authority ensure your privacy statement and practices are up to par, but a seal from TRUSTe can benefit your brand.
“The Web privacy seal is one of TRUSTe’s most popular products,” says TRUSTe’s VP of Communications, Carolyn Hodge. A privacy seal may be most beneficial to small e-tailers with little or no name recognition outside their hometown or region.
About TRUSTe
TRUSTe Privacy Seals help consumers click with confidence by guiding them to trustworthy Web sites. More than 2,400 Web sites rely on TRUSTe industry best practices to help them make the right decisions about privacy and protecting confidential user information. Half of the top fifty Web sites are certified including Yahoo, AOL, Microsoft, Disney, eBay, Intuit, and Facebook. Independent research shows that when a TRUSTe web seal is present, visitors are more likely to share personal information, register at higher rates and spend more money. To learn more about internet privacy services for SMBs, visit http://www.truste.com/privacy_seals_and_services/small_medium_business_privacy/index.html
Article Contributed By Eric Gruber
Getting global exposure for your website and reaching customers all over the world are two perks of Article Marketing, but what if global domination is not your thing?
One of my long-time newsletter subscribers recently emailed me and asked:
What if you own a dry cleaning business in Madison, Wisconsin?
Or you’re a real estate agent in Ontario, Canada?
Or you operate a bakery in Marrakech, Morocco?
If you own a local business and you want to attract customers who are in your neighborhood or city, can article marketing still work for you?
My answer = Yes!
Many of my article marketing clients at http://www.IWantMoreProspects.com own businesses that have local clients and customers. They use article marketing to increase their web presence, bolster their website rankings in the search engines, establish themselves as an expert in their niche, and also to generate more targeted traffic to their website.
So, although you may not be looking for national or international attention, you can still benefit from a targeted article submission campaign. Now, when I say “targeted traffic”, I mean that the people who are visiting your website are the type of prospects who might be truly interested in your business. They are not just random passers-by.
How can you get targeted traffic for your local business using article marketing?
To be sure that the traffic you receive is targeted, write about your area of expertise and in your resource box (that’s the author bio that sits below your article) specify the location of your business. This would tell the reader that you only work with people in that location.
Also, if appropriate you could write some articles that specifically deal with your industry in your location. For example, if you are a Real Estate agent in Ontario, Canada, there may be some unique aspects of buying or selling a house that are specific to Ontario.
Here’s one article idea: “10 Upcoming Neighborhoods in Ontario, Canada That You Should Consider Buying a House In”
Then the article would have to deliver on the promise that the title makes. Please resist the urge to mention your location in the title and then write an article that offers generalized info. If you mention your location in the title, you need to provide specific info about that location.
What You Must Remember When You Are Trying to Get Local Attention Using Article Marketing
The main thing to remember is that while we talk about a “global audience”, every one of us who is doing article marketing wants to attract a certain type of person–the type of person who is most likely to be interested in our business.
I don’t know of any website owner who wants every Tom, Dick and Harriet coming to his or her site.
Whether you have a local business or an Internet business that operates worldwide, you still have a target market, and you need to write your articles with that specific group in mind.
So, don’t let the “global exposure” idea intimidate or mislead you. When done correctly, article marketing generates targeted traffic.
You can get traffic that is targeted to your specific location (if that is what you’re going for).
You can get traffic that is targeted to your industry.
You can get traffic that is targeted to people with very specific needs.
You can get traffic that is targeted to people with specific interests.
About the Author
Article Marketing Expert Eric Gruber uses the power of articles to create online opportunities for small business owners who want more publicity, prospects and profits. Now, you can get his instant article writing templates that will help you write your articles in 30 minutes or less. Get 3 of his favorite article writing templates for free at: http://www.TryMyFreeArticleTemplates.com
Categories
Position Yourself as a Leader
Article Contributed by Mark Hunter
It’s been said that to be a successful salesperson, not only do your listening skills have to be great, but your closing skills have to be even better. However, I believe that while these skills are helpful, they are not essential. In my opinion, to be a top-performing sales professional, you must be a great leader. It is a fundamental character trait. Although we have all known salespeople who have had stellar years based on the luck of a few great clients, those with sustained, long-term success always exhibit great leadership skills.
What is a leader? Leaders are people who empower others to do seemingly impossible things, whether individually or as part of a group. They help people see issues and opportunities they would not normally see themselves. Most importantly, they instill a level of confidence in people that make them pro-active in dealing with situations they otherwise would be hesitant to handle.
These leadership traits are essential for top-performing salespeople to exhibit on a daily basis. By demonstrating these qualities to your prospects and clients, you are communicating your value to them. They will see that you have their best interest in mind and are not out to just “make a sale.” You will create the confidence they need to desire to do business with you. Salespeople who see themselves as leaders are far more likely to provide the client with the services necessary to help them achieve their long-term goals. For example, a salesperson who is a leader will wisely show a 25-year-old the significance of buying life insurance both as an investment tool and a “peace of mind” policy.
Top-performing salespeople understand how positioning themselves as leaders can further their success. You will increase your profits by selling more to an existing customer, so it only makes sense to display leadership to them. In addition, because the best new clients often come from referrals, your existing customers will be much more apt to confidently recommend you. In my experience, I have observed that salespeople who behave as leaders are less likely to need multiple closing techniques to make a sale. I firmly believe that the higher the degree of leadership in a sales professional, the less time spent on closing the deal. Similarly, the opposite holds true, and the result is a loss of valuable time.
Over the years, I have come to believe that “sales is leadership and leadership is sales.” The more salespeople with whom I work, the more I confirm the validity of this statement. Although it’s important to work on both your ability to listen and your closing techniques, fostering your leadership skills is far more essential. Begin today to set yourself apart from the competition by positioning yourself as a leader to your employees, your clients and your prospects.
About the Author
Mark Hunter, “The Sales Hunter,” is a sales expert who speaks to thousands each year on how to increase their sales profitability. For more information, to receive a free weekly email sales tip, or to read his Sales Motivation Blog, visit http://www.TheSalesHunter.com.
Back to school. Back to work. Back to business as usual. Well, maybe not business as usual. What worked last year in your business isn’t going to cut it today. If you really want your business to improve this fall, then you should add the power of video to your marketing mix.
Here are the top ten compelling reasons why you need video – right here, right now!
1. Google Loves Video! And not just because they own YouTube. Video puts your SEO on steroids. With video, you can dramatically improve your search engine rankings.
2. Video is Personal. You can enhance your know, like and trust factor very quickly by appearing on video. Let your customers get to know you by seeing and hearing you!
3. Video is Immediate. Got an idea or a message? Got a webcam? Then you can make a video instantly and be online in minutes. (Try the “quick capture” function on YouTube).
4. YouTube Rocks! With an audience of 85 million viewers, YouTube is the place to be seen online. Not only is YouTube now the 4th most popular website on the Internet, it’s also the 2nd biggest search engine! Want a piece of the action? Create an upload your video to YouTube!
5. Video Connects. Nothing establishes a better connection with your clients and customers than video. Video creates that immediate bond.
6. Video is (mostly) Free! With a free account on YouTube and a $40 webcam, you’re good to go with online video. In fact, you can get a free account at Animoto.com and create a free video montage using just your photos!
7. Video gives you worldwide exposure, 24/7. Having videos online increases your visibility across the globe. Let your video work for you while you sleep!
8. It’s Easier Than You Think! New gadgets like the Flip Video camera and the new iPhone 3G with Video make it easier than ever to capture and upload video. Both the Flip and the iPhone let you upload directly to YouTube.
9. Video is Here to Stay. Video is way past the trend stage and is quickly becoming a mainstream marketing tool. The sooner you get up to speed with this valuable resource, the better!
10. Video Accelerates the Sales Process! The best news of all about adding video to your marketing mix is that it greatly accelerates the sales process. People buy from someone they know, like and trust – and video can rapidly speed that process. That means more customers, more quickly, and more coin in your pocket!
As you can see, it’s high time for you to swim with the tide or be swept away by the video tidal wave! Not sure where to begin? Visit http://www.OnlineVideoBranding.com for more tips, tricks and trends!
About the Author
Lou Bortone is an award-winning writer and video producer with over 20 years experience in marketing, branding and promotion. As an online video expert, Lou helps entrepreneurs create video for the web at www.TheOnlineVideoGuy.com. In addition, Lou works as a freelance writer and professional ghostwriter, with a ghostwriting site at www.GhostwriteForYou.com and a blog at www.GhostwriteGuru.com.