Another Entrepreneurship Project of the  Whitman School of Management at Syracuse University

Million Dollar Businesses!

Not so cool fact: according to research, while the overall count of women-owned businesses is increasing, the number of those making above 1 million per year is not. What holds women from soaring in the entrepreneurship world? Well, according to Liz Elting (CEO of TransPerfect), quite a few things:

Being Risk adverse: When starting a venture, women tend to see themselves very far in the future, juggling a family, a business and all the responsibilities that come with. Elting advises a different approach: go all out and have no regrets! The more successful you get, the more options you will have.

Playing too nice: women tend to want to make everyone happy. Well, too bad: tough decisions are necessary for a business to grow, and need to be taken by someone…

Overlooking opportunities: Deals sometimes happen on the golf course, over cocktails or at other male-oriented networking events. Women entrepreneurs need to step out of their comfort zones and hone their networking skills as much as possible. They also need to mentor other women, so more successful ventures are created in the process.

Sticking to traditional business structures: Employees appreciate flexibility, and are likely to enjoy working for accommodating businesses. Catering to employees therefore makes it easier to retain talent, and in return grow the business!

For more information, please read the whole article at: http://bit.ly/yYoRia

We want to hear from you! What is YOUR opinion? Is there a specific thing female entrepreneurs must change to cross the $1 million mark? Post your comment below!

Thank you for reading, and until next week, stay WISE!

3 Comments

  1. Dorothea Schrader March 16, 2012 Reply

    We may not make a Million, but we have millions of other women supporting each other, in business and personal life. The Big Boys can’t say that.

    • wisesyracuse March 19, 2012 Reply

      Very well put, Dorothea. Women need to work on these relationships, and network with each other as much as possible to build strong and lasting partnerships.

  2. wisesyracuse March 19, 2012 Reply

    Very well put, Dorothea. Women need to work on these relationships, and network with each other as much as possible to build strong and lasting partnerships.

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