Article of Interest: What Are the Reasons For Gender Disparity?

Is there a gap between what men make versus what women make when running a business?  According to a 2014 report by Ernst & Young, there sure is.

Male-run businesses are 3.5 times more likely to surpass $1 million in sales than their female-run counterparts and only 2% of women-owned companies ever break the million-dollar mark, according to a 2014 report by Ernst & Young. "Women start businesses at nearly twice the rate of men, but far fewer of them actually scale," says Kerrie MacPherson, a partner principal at Ernst & Young.

What are the reasons for gender disparity?

Read:  Why More Women-Run Businesses Aren't Making Millions

Screenshot courtesy:  EY

Video of Interest: What is the Women Presidents' Organization?

In this video, learn about the Women Presidents' Organization, the WPO Annual Conference and top women-owned businesses in the world.

News of Interest: Women of Color Achievement Awards 2014 (St. Louis)

100 Black Men of Metropolitan St. Louis, in partnership with the Women Presidents’ Organization, announce the recipients of this year’s Women of Color Achievement Awards.

A total of 11 women from the St. Louis area will be honored at the 2014 Women of Color Achievement Awards reception, sponsored by IBM and UPS. The event will take place on November 13th from 6:00 – 8:00 p.m. at the Norwood Hills Country Club.  All award recipients were identified by the 100 in conjunction with local chapters of the WPO.

To learn more and to find out the 11 women who will be honored, visit:

100 BLACK MEN OF METROPOLITAN ST. LOUIS PARTNER WITH IBM, UPS AND THE WOMEN PRESIDENTS’ ORGANIZATION TO HONOR LOCAL ENTREPRENEURS AND BUSINESS LEADERS 

Congrats to all the award winners!

Screenshots courtesy:  100 Black Men  St. Louis and Women Presidents' Organization

Article of Interest: More Women Starting Businesses

According to American Express OPEN’s 2014 State of Women-Owned Businesses Report, nearly 9.1 million women-owned businesses currently operate in the United States, generating over $1.4 trillion in revenues and employing nearly 7.9 million people.  Women are launching 1,200 new businesses a day.

The report also found that between 1997 and 2014, the number of women-owned businesses increased by 68 percent, 1½ times the national average rate of 47 percent.

Learn more:  Upward trend in women-owned small businesses

Screenshot courtesy: American Express OPEN Forum

Article of Interest: 4 Essential Shark Tools for Success

Stacey Alcorn, author and entrepreneur, chats with New York real estate mogul turned Shark Tank television personality Barbara Corcoran about what it takes to build a multimillion-dollar empire. The interview appeared in Entrepreneur.

Barbara Corcoran's Essential Shark Tools for Success

Article of Interest: Women Business Owners Are Turning to Technology To Improve Their Companies

According to a new survey, released by PNC Financial Services Group:

68 percent of women business owners are likely to focus on ways to improve cash flow, 48 percent plan to start or continue to upgrade technology to improve efficiency and 44 percent will add technology to improve customer experiences.

Beth Marcello, director of women's business development at PNC says, "These women owners are prepared to leverage technology and focus on efficiency until they see more growth in the economy and their sales."

Read the article:  Women Business Owners Focused on Technology, Improving Cash Flow

Visit:  PNC Insights

Note:  PNC is a national sponsor to WPO and we so appreciate their support.

Screenshot courtesy:  PNC Insights

News of Interest: Women Presidents' Organization 2014 Business Outlook Survey

A study released recently by the Women Presidents' Organization - 2014 Business Outlook Survey (sponsored by KeyBank's Key4Women Program - showed that 33% of women reported using their own money to start their businesses, with less than 1% saying they received venture capital or angel investing.

"The networks that are established by their male counterparts don't always include the opportunity for women to participate," said Dr. Marsha Firestone, founder of the WPO. "I don't say that in terms of being critical of men. That's just the way the networks work."

Other key findings from the study include:

• The economic downturn has loosened its grip on women business owners.  Just eight percent of WPO members said they believe economic conditions are the biggest threat to their bottom-line growth, a dramatic drop from last year’s findings, when half of the respondents cited the economic downturn as their biggest worry.
• Women-led businesses grew three times faster than the national average, a growth rate of 25% or more, compared to 5.4% average U.S. business growth.

Learn more:  Women at the top struggle for funding (CNN Money)

Article of Interest: Meet the New CEO of Life

Image source @STEMwomen

Imagine a life where every girl has an opportunity.  She speaks clearly and confidently.  She skillfully negotiates anything she wants.  She stands up to social pressures.  She builds a global network of mentors and sponsors.  Sounds like WPO members but in this case, meet the official Miss CEO, a website.

A little background:

In August 2014, Stanford professor of mathematics Maryam Mirzakhani became the first woman to win the Fields Medal, often described as the Nobel Prize of mathematics.

As the Stanford community celebrates Mirzakhani’s achievement, its members are also working to bring more young women into non-traditional fields like Science, Technology, Engineering, and Mathematics (STEM). In July and August this year, an organization called Miss CEO held a series of workshops sponsored by Stanford’s Department of Bioengineering, intended to equip young women with the skills necessary to thrive academically and professionally, particularly in STEM fields.

Now we get it.

Read the entire article:  Young women take the lead in STEM - The Clayman Institute for Gender Research

Article of Interest: Women Investors Fuel Women-Run Companies

Source:  Businessweek (9/10/14)

According to Karen E. Klein for Businessweek, "Women made up 23 percent of all entrepreneurs seeking angel capital in 2013, up from 9 percent in 2005. There were fewer than 20,000 female angel investors in 2005, but that number increased to nearly 58,000 by last year."

Read the entire article:  Angel Investing:  Rise of Female Investors Fuels Women-Run Companies

Related paper:  The Angel Investor Market in 2013:  A Return to Seed Investing

Screenshot:  Businessweek

News of Interest: Vickie Rock Wins the "Ready, Set, Grow Pitch Contest" 2014

Our very own WPO Chicago member Vickie Rock, President of Victoria Legal and Corporate Services, wins the "Ready, Set, Grow Pitch Contest" at the WBDC Conference 2014.

Watch the video here.

Congratulations to Vickie!  We are very proud of you.

Screenshot courtesy of:  Video

News of Interest: Best Ever WPO Chicago Summit 2014

©2014 Laurel J. Delaney.  All rights reserved.

©2014 Laurel J. Delaney.  All rights reserved.

Our 11th Annual WPO Chicago Summit held September 11, 2014 at Google Chicago was a huge success largely due to our Steering Committee members  - Mary Bahr, Cheri McEssy, Susan Rossie and Lynn Sutton - who worked very hard to make our Summit the best ever.  A huge thank you to them and an even bigger shout-out of gratefulness to Julie Krueger, Hillary Renderman, Lisa Landsman and Matt Butler from Google for sharing their expertise with us.

Related post:  11th Annual WPO Chicago Summit (For Members Only) Hosted at Google

News of Interest: Existing and Prospective WPO Members

Here are a few creative existing or prospective WPO members with revenues ranging from $1 million to $25 million:

GoldieBlox

STORY

Peek

Triggit

Camp Bow Wow

interTrend Communications

Photo Credit: Kevin Dooley - representing creativity

Video of Interest: Second Line in New Orleans 2014

The video shows the Women Presidents' Organization Second Line in New Orleans 2014.  We know how to work hard and have fun! Related Posts:

• News of Interest:  WPO 17th Annual Conference in New Orleans Was Insanely Great
• News of Interest:  Eriksen Translations
• News of Interest:  WPO 17th Annual Conference

Article of Interest: Start Noticing Successful Women Entrepreneurs

Successful entrepreneur Dr. Marsha Firestone

I am a big fan of Candida Brush, chair of entrepreneurship and research director of the Arthur M. Blank Center for Entrepreneurship at Babson College.  In the article below she homes in on the single most important thing she notices when she teaches:  the majority of her students are much less aware of successful women entrepreneurs.

She starts the classroom dialog like this:

How would you answer the question: “Name a successful entrepreneur?” Did you say Bill Gates? Mark Zuckerberg? Steve Jobs?  Richard Branson?  Or maybe you said Larry Page or Howard Schultz if you like coffee?

According to Professor Brush, she says it takes about eight names before a woman is named.

What needs to be done to correct the situation?

In order to change perceptions about who is a successful entrepreneur, we have to work a little harder to intentionally include the names of successful women. 

Read the entire article:  Candida Brush: Include More Women as Textbook Examples of Success

Photo Credit: Women Impacting Public Policy - Marsha Firestone, Ph.D., President and Founder of the Women Presidents' Organization

Article of Interest: Inspiring More Young Women in STEM

How do we help more women break through the glass ceiling that holds them back?  Encourage them to start businesses and get young women interested at the outset in science, technology, engineering and mathematics (STEM).

Stephanie Vozza, for Fast Company, talks about how young girls need inspiration to become equal players among the next generation of innovators and technology leaders.

Read:  Introducing The Next Generation of Female Tech Role Models

Photo Credit: gcoldironjr2003

News of Interest: Where WPO Chicago Member Shea Soucie Dines to Make a Statement

WPO Chicago member Shea Soucie (pictured) is co-owner of two Chicago-based companies:  Soucie Horner Ltd., an interior design studio and SHIIR, a fine artisanal rug company.  She says:

“Everything I do is very visual, so where I choose to eat says something about me from a visual standpoint. We are about quality, not volume.”

Click here for where she dines to make a statement.

Report of Interest: Forget the Glass Ceiling: Build Your Business Without One

In Geri Stengel's "Forget the Glass Ceiling: Grow Your Business Without One (PDF file)," 10 women provide practical advice on how to start and grow companies, really BIG companies - all are or have the potential to be $100 million plus companies.

Screenshot above from "Forget the Glass Ceiling:  Grow Your Business Without One"

Article of Interest: Meet the 12 Most Powerful Black Women 2014

First Lady Michelle Obama

Forbes assembled the world's 100 most powerful women in 2014.  Of the 100 women featured, 12 are black - from CEOs to entrepreneurs to musicians.  Check out who they are:

The World's Most Powerful Black Women 2014

Photo Credit: AlexJohnson

News of Interest: Manilow Suites Wins TripAdvisor Certificate of Excellence 2014!

Manilow Suites, a short-term corporate housing company of 35 years, announced that it has received a TripAdvisor® Certificate of Excellence award 2014. The accolade, which honors hospitality excellence, is given only to establishments that consistently achieve outstanding traveller reviews on TripAdvisor, and is extended to qualifying businesses worldwide.  Establishments awarded the Certificate of Excellence are located all over the world and represent the upper echelon of businesses listed on the website.

Read the entire news release:  Manilow Suites Wins Trip Advisor Certificate of Excellence!

Congratulations to long time WPO member Francine Manilow, President and Founder of Manilow Suites, for earning this prestigious honor.  We are very proud of you and all your successes!

Screenshot courtesy of Manilow Suites

Event of Interest: 11th Annual WPO Chicago Summit (For Members Only) Hosted at Google

Invitation courtesy:  MAB Advertising Inc.