The State of Female Entrepreneurship in 2018

Starting any fast-growing business is difficult. Starting one while female can seem nearly impossible, although we have proof at the Women Presidents' Organization that it is doable.

To fully understand the female entrepreneurial experience in 2018, Inc. and their sister publication Fast Company asked women who have started all kinds of companies just how they do it.

Find out here.

15th Annual WPO Chicago Summit Was Insanely Great!

We thank Amy Bastuga (second from bottom photo), Senior Vice President, Human Resources, at Radio Flyer and her great team for hosting the WPO Chicago members at the 15th Annual WPO Chicago Summit on Thursday, September 13, 2018.  The pictures tell all.

Biggest takeaway from the insanely great program:  Building a great company culture is purposeful and intentional.

Are you not a WPO Chicago member yet?  Perhaps you should consider.  Visit the Women Presidents' Organization and then, if you pre-qualify, contact Laurel Delaney, ldelaney@globetrade.com.

If You Run a Multimillion-Dollar Business, Please Join Us 9/13 in Chicago

The Healing Power of Sleep

How much sleep do you get every night?  If you are like me, no two nights are ever the same.  Yet sleep is vital to leading people and managing a business.

Although the ranks of sleep advocates are no doubt growing—led by the likes of Arianna Huffington and Jeff Bezos—a significant percentage of people, and U.S. executives in particular, don’t seem to be getting the sleep they need.

Why is that?

A first step for sleep-deprived leaders is to come to terms with just how damaging your fatigue can be—not only to you but also to those who work for you.

Next, follow these steps to ensure you get better rest.

Women Start Nearly 2,000 Businesses a Day

In its eighth annual State of Women-Owned Businesses Report, American Express found that women-owned businesses now employ 9.2 million people and generate $1.8 trillion in revenue.  Further, women started new businesses at the rate of 1,821 a day between 2017 and 2018.

Businesses started by women that generated revenues of more than $1 million a year increased 46 percent in the last 11 years, compared to a 12 percent increase for all businesses, per AMEX.

Read more ...

How to Reward and Recognize Your Employees in Meaningful Ways

Are you honest with your employees when it comes to performance review time?  Here are four ways you can show your employees that you appreciate them—even if you can’t offer a raise or promotion.

1. Get candid with your direct reports
2. Ask questions
3. Recognize them in a way that resonates
4. Advocate for your employees

Read more about how to motivate your star employees here.

Success On Their Own Terms

Whether they're embracing entrepreneurship because of a grand vision or to have greater control over their lives, women business owners still face obstacles. Yet, when it comes to economic impact, women are all business.

They are the primary or sole breadwinner in 40 percent of U.S. households with children, according to the Pew Research Center.[i] And they're increasingly striking out on their own. Roughly 36 percent of all businesses are women-owned (51 percent or more), and another 9 percent are equally owned by women and men, according to U.S. Census data.

Read more about how women business owners overcame obstacles to success on their own terms.

Why Collaborative Work Looks Different Depending on a Variety of Factors

As Renee Cullinan, chief executive officer and co-founder of Stop Meeting Like This, says in the Harvard Business Review: "In any organization, people apply unspoken rules and understood norms to get collective work done — in other words, they collaborate."

The value people place on relationships is a strong influencing factor on whether and how they collaborate. Relationship-heavy cultures are marked by inclusion, personal connection, and relationship-based decision making. They tend to be friendly, warm places to work. 

Read more how in collaborative work cultures, women carry more of the weight.

Sana Amanat is Making Marvel More Diverse

More and more female and minority superheroes have found their way into Marvel’s comic books, an effort spearheaded by the company’s VP of content and character development, Sana Amanat.

Watch the video here.

Join Us: 15th Annual WPO Chicago Summit 2018

Why Women Love Female-Only Groups

Women-only networking and peer-to-peer groups are an increasingly appealing option and a growing trend. From The Wing, a high-end coworking space in New York and D.C., to the home-based Quilt in L.A., San Francisco and New York, to the NY-based Women Presidents' Organization non-profit membership organization for women presidents, female founders are finding their tribe, making authentic connections and discovering the power of #womensupportingwomen.

Find out more about the benefits to women-only networking and groups.

Are Your Strategic Plans Strategic?

In Graham Kenny's article, "Your Strategic Plans Probably Aren’t Strategic, or Even Plans," he talks exactly about that.

At the start of my public seminars on strategic planning I ask attendees, who rank from board members and CEOs to middle management, to write down an example of a strategy on a sheet of paper. They look at me quizzically at first as they realize that this is a tough assignment. I reassure them that this is indeed a hard question and they plow ahead.

Learn what he discovers on responses here and pay particular attention to the reader's comments, oftentimes more telling than the article.

How to Overcome Business Ownership Anxiety

Owning a business can be extremely stressful and exhausting. The owner's resulting anxiety can be crippling to their business.

Usually stepping back and disconnecting from big issues to calm down is helpful. Try these 6 strategies to cool your nerves.

Read more about overcoming business ownership anxiety.

Humor Builds Resiliency

So you are running a multimillion dollar business.  What can be funny about that?  Plenty.  That is, if you lighten up a bit because humor builds resiliency.  Here's what Eleanor Beaton from Inc. says:

And while you might be tempted to write off "having fun" as a performance strategy more applicable to entertainers than business leaders, a number of leadership heavyweights -- from noted psychologists to high-performing business leaders -- echo  [new comic Tiffany] Haddish's belief that having fun boosts the performance of both leaders and the companies they helm.

No kidding.  Read more here.

Storytelling for Business

When it comes to getting people engaged and willing to act, storytelling is one of the keys of success in business.

Stories engage people in various ways – not just in their minds but also in their emotions, values and imaginations.

Read more about 3 companies that excel in utilizing storytelling as their key tool of communication.

Review the infographic here.

Taking Care of Your Mental Health as an Entrepreneur

With the recent deaths of creative entrepreneur Kate Spade and celebrity chef and journalist Andy Bourdain, there is no better time then NOW to focus on maintaining a healthy lifestyle while, at the same time, driving results at your business.

For example, how can you recognize when our determination is leading you down a path towards depression?

Find out here.

2018 WPO 50 Fastest Facts

"Since 2007, the WPO launched the listing of the 50 Fastest-Growing Women-Owned/Led Companies to focus much-needed attention on the vital role that women-owned/led companies have in boosting the economy and enhancing overall job growth,” notes WPO President and Founder Dr. Marsha Firestone.

Facts about the 2018 WPO 50 Fastest:

• Average age of women-owner/leader is 51; with half of the winners in their 30’s and 40’s
• Aggregate revenue is $8.3 billion, up $1 billion from last year
• Average 2017 revenue was $165.3 million
• Average number of employees on first day: 13; projected average for 2018: 799

Funding sources at company start:

• 70% with their own funds
• 12% with funds from friends and family
• 4% with a bank loan
• 8% with a line of credit
• 4% with a credit card
• 4% with private investors/angels

Read more about the 2018 Winners of 50 Fastest Growing Women-Owned/Led Companies Announced by Women Presidents’ Organization

Moving Beyond Startup Stage

For two decades the Women Presidents' Organization has brought together women pioneers spearheading multimillion-dollar businesses to continue that journey of success.

“In 1955 there were 500 corporations on the Fortune list. Today only 61 of those companies still exist. Typically, the only time an organization changes is when it’s backed into a corner. The old adage ‘Innovate or Die’ still applies. Don’t be one of these unfortunate enterprises left by the side of the road. Disruptive thinking has revolutionised the business landscape,” said Dr Marsha Firestone, WPO President and Founder.

Learn more about the Women Presidents' Organization.

Most Powerful Women International Summit in London

The Fortune Most Powerful Women (MPW) International Summit, which is taking place in London on June 11-12, includes Lloyd's of London CEO Inga Beale on how she leads the company culture to promote inclusion, World Bank CEO Kristalina Georgieva on global economies, Bank of America vice chairman Anne Finucane on the bank's outlook on Brexit, and U.S. Ambassador to NATO Kay Bailey Hutchinson on her top priorities of military cooperation, intelligence-gathering, and combating terrorism.

The MPW International Summit is the cornerstone of the global expansion of Fortune Most Powerful Women, which started as a conference and has evolved into the preeminent community of women leaders in business and beyond.

Learn more here.

Giving Thanks to all the Mom Entrepreneurs and Presidents

With Mother’s Day yesterday, it’s a perfect time to give thanks for all that moms have done. There are plenty of moms who have made a huge mark on the business world as well.

Here are some successful mom entrepreneurs and presidents who might provide some inspiration for others the day after Mother's Day.

21 Successful Mom Entrepreneurs to Inspire You