Thursday, March 24, 2011
This year I take encouragement from the fact that there were more women attending SxSW as leaders in the music, gaming and entertainment industry than ever before. I especially enjoyed the reports coming out of the workshop entitled: Breaking the Glass Ceiling -- Fearless Women Entrepreneurs. According to the event coverage from The Guardian, the event outcome hit upon a key principle that we at the SmartGirls' Way hold dear; support from other women is critical to overcoming the first hurdle of entrepreneurship -- the fear of failure.
Another hurdle that women entrepreneurs face is self-confidence in their strengths as women. A tri-University study released last week from Binghamton University, the University of Missouri and the University of Minnesota, attributes gender stereotyping as a primary barrier to women choosing entrepreneurship. The research was done to address a seemingly lack of role models among the pool of existing women entrepreneurs. Specifically, it unveiled a need to change the way entrepreneurship is discussed, portrayed and valued in dialogue with ALL genders.
And here is the Eureka moment for me. For the past few weeks, our founder has been interviewing women all over the country for the 100-100 - A SmartGirls' Way Project highlighting the success and strengths of women entrepreneurs. The issue is NOT that there aren't great role models out there confidently overcoming fears and gender barriers to build successful businesses. The issue is that not enough people know about them as a collective force, dramatically transforming the face of business in our country.
Events like the workshop at SxSW are a GREAT start to engage this collective force of role models. We want to take it to the next level by championing and celebrating the momentum and potential impact that women entrepreneurs bring to our economy.
If you know a woman entrepreneur who would be a great role model, tell us! What do you look for in a role model? What strengths do you most admire in those that have inspired you and ask yourself, what can they teach you about stepping up and launching your own type of entrepreneur?
Friday, February 18, 2011
First, Take a Deep Breath: Four Ways Women Can Build Confidence In and Support for Their Great Ideas
Founder, The SmartGirl's Way
Friday, February 11, 2011
- Bias is a natural behavior: Serial CEO Margaret Heffernan explains that corporate leaders act upon their natural biases by choosing others that are “like them” when hiring and promoting leaders.
- Gender discrimination is embedded in our cultural perceptions: A recent University of Utah study found that female-led firms with identical personal qualifications and company financials were perceived as less capable than male CEOs in those same roles.
- Behaving like men is counter-intuitive to our nature: Patricia Sellers points to the female power conundrum that happens when female CEOs try to behave and lead like men.
- To break the glass ceiling, we have to jump off the glass cliff: A study in this month’s Harvard Business Review suggests that women’s perceived leadership attributes are only embraced when a company is in crisis and needs a change of leadership.
While all of this is very interesting it makes you wonder why any woman would want to stay and fight the corporate battle. Perhaps this is why women in the U.S. are starting their own businesses at twice the rate of men. Research on women in development reveals that nearly 75% of women involved in early stage entrepreneurship are already employed. Are many of these new entrepreneurs frustrated ladder climbers?
I’m not suggesting we should abandon our efforts to support women as corporate leaders. After all that same Harvard Business Review article found that the glass cliff isn’t an issue in organizations with a history of female leaders. But it does suggest another reason that women choose a different path:
- 5. Business is NOT just business anymore. By-and-large women entrepreneurs start businesses that are aligned with both their personal and business values. Riane Eisler suggests in her latest work, The Real Wealth of Nations, that there is a strong movement – a revolution if you will -- to create a genuine caring economy—one based on balance and a respect for the intricate relationships that keep our planet and society healthy.
It is these “caring” skills that the corporate world eschews until there is a crisis. And they are the very skills that The SmartGirls Way most values. It’s about time for women to stop trying to think and behave like men and start embracing our collective women’s wisdom. I’m willing to bet that’s an idea that any enterprising woman – corporate or otherwise -- can get behind.
Tuesday, January 25, 2011
Saturday, January 15, 2011
If you are a woman running a business alongside other commitments – family or parental -- chances are you engage in a daily struggle for balance. Some call this multi-tasking, and after years of struggling to balance the tensional pull between my growing family and growing business, I’ve come to loathe this term.
A study in 2002 by John Arden found that, “multitasking decreases your memory ability.” He also claims that for every new task that you take on “you dilute your investment in each task.” Dr. David Meyer, a psychology professor at the University of Michigan, claims that multitasking can actually hinder a person’s ability to complete tasks at the optimum level because it adversely affects the brain’s short-term memory and concentration. One 2005 UK study actually found that when it comes to multi-tasking, males were superior in quiet conditions; females were superior during distracting conditions. However that same study also noted that male or female, our IQ drops 10 points when multi-tasking.
Here at the SmartGirls Way we have oft debated the upside and downside of multitasking. When I am effectively multi-tasking I feel empowered, efficient and capable – delivering a feature article in advance of a deadline, plowing through the laundry and wrapping up a new coaching contract in time to steal some precious moments on the playground with my kids. But on a bad day multi-tasking just seems to provide me multiple things to feel guilty about. Even if I have had a good session with a client --it wouldn’t be a surprise to discover I’ve forgotten the parent-teacher conference and misplaced my cell phone in the refrigerator. These are the days that I contemplate closing up shop because the fear of failure – as both a mother and a consultant – clouds my head with doubt and dread.
And I’m willing to bet I’m not alone. A 2007 Global Entrepreneurship Monitor survey found that an increased fear of failure among women in particular is why fewer people are now considering setting up a business. Is the underlying problem really a fear of failure or an impossible standard of achievement by which I measure myself?
Shelley J. Correll at the Clayman Institute at Stanford, calls this the Motherhood Penalty. When it comes to entrepreneurial ventures, men view lower levels of achievement as success, whereas women see it as confirmation that they were not up to the job. Is it the disadvantageous stereotyping of working women that is really the culprit here? I know what I tell my own clients when they’re feeling overwhelmed and guilty.
- First, identify the lesson in each situation. When I’ve consistently dropped the ball on my familial responsibilities I see it as a big sign from the universe that I need to step back and evaluate. I love the definition of insanity: doing something the same way every time and expecting a different outcome. When I start to see a pattern, then I know I’ve got to make a change. That doesn’t mean I need to stop running my business, but it may mean I need to stop working for a specific client or ask for some help from my husband to get me through a busy time.
- Second, focus on your strengths. I am a big fan of life coach Markus Buckingham’s 80/20 rule. Most of us spend our time focusing on what we perceive as weaknesses when what we really need to do is spend 80 percent of our time focusing on what we do best. That’s one of the reasons I left my corporate job to start my own business in the first place. If I’m feeling too stretched and its having a knock-on effect on my family, chances are I’ve fallen prey to something that is keeping me from focusing on what I do well.
- Third, weave together a support solution. The evidence on business ownership suggests that people who have family and friends who have started businesses are more likely to do so themselves. I truly believe that there isn’t any problem that I’m facing that some other woman has not also experienced. In all of the research I did for this essay, one common theme rose above all others: the support system I weave around myself is critical to my success. This support system allows me to share the burden of child-rearing and entrepreneurialism with my spouse, my childcare provider and my colleagues. It also allows me to focus my intuition and passion on the business activities that are at once enticing not only for their profitability, but also for their interest and beneficial impact on others. Finally, this support system allows me to meet and learn from some of the most interesting and dynamic women and men in my field.