# Tips for Women Interested in Owning Their Own Business

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## Article #1

Women Often Make Better Franchisees
By Lance Winslow

Smart franchisors come to realize very quickly that some the best franchisees in their system are women. Women make very good business owners and without trying to stereotype here, let me just say there are often inherent differences between men and women and those differences often give women the upper hand in success ratios in franchise organizations.

In our franchise system we always had successful women franchisees. Our company the Car Wash Guys is a mobile car wash and fleet truck washing business. In our case we had both Car Wash Guys and Car Wash Gals. Thus there are Carwash Gals in our organization in some areas and car wash guys in other cities. The Car Wash Gas tend to make similar if not greater revenue than the franchises owned by men. I believe this is generally because Men customers would rather have a woman wash their car (even if you don’t like that answer, it is the truth).

Also women customers enjoy the more meticulousness of a woman who washes their car. So Car Wash Gals get the best of both worlds, more car washes from both women and men customers. I believe the cars do come out a tad bit better from women car washers, as they do a better job on windows (people may call that sexist, but it’s the truth).

Women also have also often tended to have a knack for dealing with the crews, and better understanding the needs and desires of their customers. At least that has been my observation. We have had several woman franchisees and actually had run a special program for women and a discount on franchise fees.

If you are a franchisor, you may wish to consider this when doing your franchise sales and work hard to concentrate of recruiting the best women franchisees you can; the more the better. Better for them and your brand name and ultimately the customer, which brings us full circle as to why franchises are such a great business model. Think on this in 2006.

## Article #2

Six Essential Principles for Marketing to Women Business Owners
By Lois Carter Fay

Marketing to women entrepreneurs is not difficult. You just have to follow six easy, but essential, principles.

As of 2004, there are an estimated 10.6 million privately-held firms in the U.S. that are 50% or more women-owned, accounting for nearly half (48%) of all privately-held firms. These firms generate 2.46 trillion in sales and employ 19.1 million people nationwide according to the April 2004 biennial update on women-owned businesses by the Center for Women’s Business Research. The report was based on U.S. Census Bureau data.

I’m sure it comes as no surprise to you to learn that selling goods and products to women (especially women business owners) is different than selling to men. If you’d like to do business with this huge segment of the business world, what do you need to know?

In my business as a marketing consultant for women entrepreneurs, I've discovered six easy, but essential, principles for doing business with women business owners. They are:

- Start small.

- Look at the big picture.

- Sweat the small stuff.

- Less is more, as long as it’s quality.

- Build relationships through education.

- Stay visible and involved.

Now let's look at these principles a little more closely.

Start small.

Women business owners (WBOs) tend to be very cautious. They make very careful decisions that are well-thought-out. Because of this, WBOs will generally purchase something small or hire a consultant to complete one project before committing to an ongoing relationship and a huge investment. Although this isn’t always cost-effective, it gives them the opportunity to try the product or service before they invest significant dollars.

Sally Falkow, branding strategist with Falkow, Inc. in Pasadena, Calif., agrees. “Women business owners have a tendency to 'stick their toes in the water.' Many of the women business owners I deal with are eager to learn about how the Internet can expand their business. But they do it on a gradient. This way they can cope with the new technologies and get one aspect under their belt at a time."

Look at the big picture.

Studies show that women-owned businesses have a better success rate than those owned by men. Their businesses generally grow slowly and steadily, and they don’t spend money carelessly.

For instance, when Jo DeMars, president of DeMars & Associates, Ltd., a dispute resolution firm in Waukesha, Wis., began her business, she borrowed office space, purchased used furniture, and only spent money if she absolutely had to do so. She always paid her bills on time and was very careful about who she hired.

“When I got client work, I wouldn’t hire for the position until I had the contract signed,” says DeMars. She now has 27 employees and contracts with Ford Motor Company and Daimler Chrysler in Calif., among others. Looking at the big picture helped her stay on track.

Sweat the small stuff.

If you get the little stuff right, women will be less concerned about the big stuff. That’s because women are into details. They want to know everything about a product or service before they buy it—-not only how it works and what it costs, but also what kind of support can be expected and how long it will last.

Gathering information is an ongoing process for women. How are you dressed? Did you shine your shoes? Were you genuine and honest? Have you done what you said you would do? Do you send professional follow-up notes? Does your office run smooth as silk? All this makes a difference for women.

“As a woman business owner, I not only look for this in my vendors, but at Rowena’s we only hire people who are detail minded. In a retail and wholesale foods business like ours, focusing on details is absolutely essential,” says Rowena Fullinwider, president of Rowena’s, a gourmet cake and foods company in Norfolk, Va.

Less is more, as long as it’s quality. Women business owners often have an overflowing plate. They usually work many long hours building their businesses, while also taking care of children, a husband, parents and pets; volunteering for charities; and managing the family’s social calendar. So they don’t have time to spend lots of time researching and analyzing everything they buy.

As a business owner who sells mostly to women, Sandra Weaver of Fragrant Expressions at Dayton Farmer’s Market in Dayton, Va., agrees wholeheartedly with this idea. “This is true not just for women business owners but for all women. I have spent a lot of time researching what women need so I can help them feel they can give themselves permission to nurture and express themselves in healthy and appropriate ways,” she says. “Women don’t have a lot of time to shop. They want good buys, convenient shopping, and also honesty. So in my shop, if you’re not happy with it for any reason, you bring it back.”

Because women are so busy, offering a smaller selection of quality products and services will appeal to WBOs. They want to make the right choice without having to wade through all of the wrong ones. The way to a woman’s heart and purse strings is through trust.

Build relationships through education. A consultative sales style works well for women. It’s important for them to have an equal relationship with vendors and service providers who help the WBO learn what she needs to know. If you can educate, advise and service her business without patronizing her, you'll be a star.

"I've learned through life and business that preparation avoids unnecessary risks," says Krystyna Bublick, owner of Loveabye.com and Krystyna Virginia Beach Jewelry Creations in Virginia Beach, Va. "Making careful decisions raises my comfort level of success. I'm not afraid of risk, thoughtful risk. Knowledge and expert advice is critical. I know I can not be an expert in all fields, so I build in security by consulting people who are. This minimizes my financial outlay in the long run."

Stay visible and involved.

Women are loyal creatures. Once you are successful at selling to a woman business owner, you are very likely to keep selling to her for years to come. Of course, this means it often takes a long time to make your first sale.

She will need to know that you are always there, but not always there to sell. So get involved with business organizations to which she belongs, like the Chamber of Commerce, National Association of Women Business Owners, BNI, and the Working Women’s Forum or your local women’s group. Be an active member and prove that you do what you say you will do. She’ll begin to trust you and look to you for her buying needs. And once you win her over, you can keep putting those checks in the bank.

Lois Carter Fay, APR, is a 30-year veteran in the P.R. and marketing field. She now produces three marketing ezines, Brainy Tidbits, Brainy Flash, and Success Secrets of Women Entrepreneurs. All are free. She's also the co-author with Jim Wilson of "Sales Success! Strategies for Women," a quick-to-read ebook containing 52 easy-to-implement sales tips. The ezines and ebook are available through her websites.

Visit http://www.MarketingIdeaShop.com or http://www.WomenMarketing.com to learn more sales and marketing ideas and subscribe. Claim your free special report when you subscribe.

## Article #3

Developing the Experience Required to Run a Successful Woman-Owned Business
By Roxanne Batson

The fact is that nearly anyone can open a business, regardless of experience or expertise. The trick, then, is knowing what you need to know to run a successful woman-owned business. To make it more complicated, the level of experience required can vary greatly from one woman to the next. Different personality types approach business decisions differently, and some women are simply more inclined toward the entrepreneurial spirit.

Does this mean that, if you don't see yourself as a "go getter" that you can't run a successful business? Absolutely not! If you are clear about your goals and what you want to accomplish, it's then a matter of learning a few things. And there's no one better to learn from than successful entrepreneurs!

Why "Real World" Experience Can Help
Before you head out to open your business, consider working a job in a similar (or the same) industry in a position that will allow you to experience the inner workings of the business. For example, if you are interested in developing a business that will offer some type of product, learning the entire process of product development can be extremely useful. From the inside, you can see how a company develops, markets, and sells a product, as well as how it works with contractors (if applicable) and the financial workings of the company.

This type of experience is invaluable. Not only do you learn the business from the inside out, you can also witness what works and what does not, and make plans for your own business accordingly. The basic fact is that it's simply easier to open a business if you have some experience in the industry, or a similar business. It's not impossible to run a successful business without this, but it's extremely helpful.

Another bonus of working in the industry prior to branching out on your own is that you make connections! As a woman in business, you know the importance of networking and making the essential connections with others in the business world. Having a network of people to call upon as you start out is irreplaceable in value, and it's much easier to develop from the inside rather than trying to break in from the outside.

Find a Mentor
When you're actively involved in the business world, it's much easier to find a mentor to work with you who can share her experiences and knowledge with you. In a positive mentor relationship, you can learn an enormous amount of information in a much shorter amount of time. Your mentor can be someone within the company or someone who has also branched out on her own.

How do you find a mentor? Maintain open communication in the workplace and develop positive working relationships with your seniors (a good idea regardless of whether or not you're actively seeking a mentor). As you feel comfortable, simply ask. Inform her that you are thinking of starting your own business and that you're impressed with her success. While it can feel intimidating to seek a mentor, she'll likely feel honored by your request.

Seek out organizations that serve businesswomen as well. Many professional organizations have mentoring and other similar programs in place to help members help each other. If you're not a member of an organization that is either geared toward women in business and/or that is directly related to your business, join now! You will likely be pleasantly surprised at the giving nature of the other members. Gone are the "cutthroat" days of years gone by. Business people, and particularly businesswomen, understand the benefits of supporting others in business--even if it's the same business!

Know Your Business and Find Your Niche
Some of the old standbys still apply. If you know your business well, you're much more likely to be successful. Your knowledge will help you with basic business functions and will help you earn trust with your customers. After all, everyone is more comfortable shopping with someone who knows their stuff, whether it is a product or service.

Real world experience offers you a chance to learn all aspects of a business, and as an added bonus, you'll be paid in the process! This can also help you understand what you can do that is even better. Determining and developing your specialty is more complicated than offering a better product or service, but that's the basic starting point.

The bottom line is that real world experience is not a requirement for running a successful woman-owned business, but there are a number of benefits. You don't need to put your dreams on hold, but you can use your job as a great starting point to creating the best business that you can.

For more ideas and information go to WomenCorp. You can also get great ideas and inspiration from the free newsletter. To begin receiving it, sign up here.

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CONTACT INFORMATION:
Brian Kirk
(205) 835-8167
http://www.WomenCorp.org

Roxanne Batson is Managing Partner of WomenCorp.