These women are majority owners in nearly one in three firms in the U.S. It’s estimated that, as of 2014, there are nearly 9.1 million women-owned enterprises, employing nearly 7.9 million workers and generating over $1.4 trillion in revenues.
There’s more to this than the sheer volume, as these midsized businesses are highly successful. The study finds that women-owned firms are the growth leaders in eight out of the 13 top industries, including financial management (Morning Star Financial Services in Minnesota), workforce solutions (Pinnacle Technical Resources in Dallas) and much more. These successes convert readily into dollars and jobs, as in 2014, the 50 Fastest growing firms generated a combined revenue of $4.4 billion and employed more than 31,000 people.
What’s contributing to the growing success of women-owned businesses? In a PayPal study of women entrepreneurs, women say their top 5 reasons to start a new business are to follow a passion, the belief they can be successful, to seek independence, to make more money and to have control over their life. Their top five hopes for the business are to have a work-life balance, have control of their future, take pride in themselves, be financially successful, and the notion that work doesn’t feel like work anymore.
What success secrets do women leaders appear to have in common? The Pew Research Center study on Women and Leadership finds that women are believed to be more honest and ethical than men, as 31% of respondents say women are stronger at this versus 3% that say men are more honest and ethical. In addition, 30% say women are better at providing fair pay and benefits, while 5% say men are.
Also, there are shared character traits which help to set successful women business leaders apart. Rosa Alfonso-McGoldrick, VP at American Express Global Corporate payments, says, “They are very good at creating advisory boards and [cultivating others’] expertise to help them grow. They want to have advisors.”
Chief Executive Group exists to improve the performance of U.S. CEOs, senior executives and public-company directors, helping you grow your companies, build your communities and strengthen society. Learn more at chiefexecutivegroup.com.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
