The recent news that over 50 percent of American women are now the breadwinners in their households is exciting. Women are starting businesses faster than men. Many of these breadwinners are entrepreneurs. Yet women who have established businesses don't have a place to gather. As a small business speaker and mentor, I've worked with dozens and women who are changing the game in just about every business you can imagine.
One of these women is also the former First Lady of the State of Nevada, Dawn Gibbons. She recently told me, "I believe in the power of small business to change a woman's life. I arrived in Reno broke, driving a limousine past wedding chapels. Three years later, I owned all of them." Clearly, she achieved "breadwinner" status even before she was elected as a state legislator.
No Place For Us
For her and women like her, reaching this milestone isn't the end of the journey, it's the beginning. And many women are discovering that what matters most at this stage of the game is finding women like them to network with, in order to grow not just professionally, but personally.
Calanit Atia owner of Owner at A to Z Events: "It's very difficult to find women of your caliber. Most women's events are more geared to women in the start up phase of their business. Today, we have more stress, fewer employees, fewer dollars and more headaches -- and we need each other like never before."
But where do we find each other? Where do we find "women of our caliber?"
Men, it seems, have never had a problem with this. Businessmen have networked since the beginning of time -- why do you think they call it the Good Old Boy Network? They've long held a monopoly on those organized high-level, outside-the-office interactions that have helped them cement their dominance over the economic landscape and become the presidents and CEOs and chairmen of just about everything.
Power in Numbers
Men understand there's power in numbers. Well, we need that power too. We need a network.
And we don't just need it to inspire our businesses. We actually need it to fund them. With women owning 10.6 million businesses and creating 19.1 million jobs and over 2.5 trillion in sales, the vast majority does not get capitol. A recent article in Entrepreneur Magazine stated that 73 percent of the funding for women's businesses came from the women or their families. Forty five percent of these women owed are in the service sector and ignored by investors.
Rochele Lawson , prominent businesswoman owner of The Health, Healing and Wellness Company told me, "Finding capital has been so difficult, I testified about it on Capitol Hill. Most women just front their businesses on their credit cards and have given up looking for capital."
Any businessman will tell you, networking is the ideal way to find capital -- no AmEx required.
It's true that this is the 21st century -- and women are now usually more than welcome to join the Good Old Boys as they network with each other. But according to a recent Wall Street Journal article, this may not always be our best option. The article focused on Simmons College School of Management, an MBA program with a strict women-only policy. According to dean (and former Federal Reserve Bank of Boston Chief) Cathy E. Minehan, the school exists because in the classroom, "male leadership roles remain unchallenged, and women are left with 'play the game our way, or go home.'"
If this is the case in the classroom, is it really any different in the real world?
I don't need to tell you that we women are different. We think differently, we run our businesses differently, and we face different challenges, like balancing work and family, expressing our authority and just getting by in what still is, in many ways, a man's world. So it makes sense that we also network differently. For us, it's all about collaborating together and inspiring each other, not necessarily competing with or one-upping each other.
For us to get the most out of networking, no offense to the boys, we need an opportunity to get together without them around. We need a chance to play the game our way.
And yes, there are also plenty of women-only networking opportunities. Those events are focused to women who are just starting out in business and looking for support, encouragement and advice. They are wonderful. I support each and every organization that empowers women -- and men.
Where Can We Find Each Other?
A consistent problem remains. Women who have established businesses, and who are looking for what comes next, don't have a place to congregate. Where is a peer-to-peer networking opportunity for established women business owners? It's lonely for women small business owners.
Clients look for those events and didn't find them. We decided to invite 50 elite entrepreneurs together to solve this problem.
League of Extraordinary Women
Fifty extraordinary women from all across America to join together for a weekend at a luxurious Las Vegas resort to connect with, inspire and engage each other in new ways -- and to raise money for Women for Women (5 percent of the proceeds go to this great organization). When women come together we are catylsts for incredible good. The outpouring of support for fellow HuffPost blogger Alicia Keys article shows what we can do when we come together. So far, the response has been incredible -- we have women joining us from New York, Washington, D.C., Chicago, Orlando, Seattle, Mississippi and Canada. If you are a woman business owner looking for others to share with let us know! We want to support you.
We see the great good that emerges from amazing women (and some very smart men) getting together in one place. I'll be back in a few weeks with a report on the outcomes we created together.
Do you feel like a lone ranger as a woman business owner?
How are you accessing capitol for your business?
Where do you go for peer to peer networking?
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Eli Davidson is a nationally recognized motivational speaker and executive coach. Her book, "Funky to Fabulous: Surefire Success Stories for the Savvy, Sassy and Swamped" (Oak Grove Publishing) has won three national book awards. Check out her blog atfunkytofabulous.blogspot.com.
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You are so right about high caliber women entrepreneurs needing a place to "congregate" and do things differently than our male counterparts.
When I teach my book writing courses by the ocean in Narragansett RI, I occasionally attract a group that is exclusively women and it is interesting to see how those groups bond so deeply and interact in a very feminine way.
I look forward to hearing more about this groundbreaking event.
www.lisatener.com
Thanks so much! It was a sold out event that was so welcomed that we were asked to do another one in February.
Years later, I’ve walked that walk, and benefited from the rapidly increasing number of brilliant female entrepreneurs in my tribe.
In my first business, www.EntertainmentCareerCoaching.com, I noticed my female clients had a higher rate of irregular scheduling than men, almost always due to putting family members or other obligations ahead of themselves. As a result, their collective progress advanced at a slower pace despite their ambitions.
In my second business however, www.YourVoiceInBusiness.com, I’m seeing a new breed of Lone Ranger Women – of ALL ages – who are discovering what it means to be in integrity with their identity, and are paying it forward to help others achieve the same.
We are more than a single category of women entrepreneurs --- we are a movement creating legacy.
It was fantastic to see you shine in your brilliance! What a blessing you are!
Your participation matters because women impact the bottom line: companies who have women on their Board of Directors and in senior positions earn more revenue and have higher stock valuation. We all benefit when women communicate clearly how they add value and what they need to create that value. Thanks for being an agent for change!
Thank you to the 1 million women WIPP business owners who are taking a stand for all women entrepreneurs. Women need to come together to make our voices and needs heard by local, state and national government.
I'm just waiting for someone to use my Finish Agent software to run a program that walks people through all these stages of building a company. I could see it being useful for women, because we like to "grow" in groups, yet we need daily support for the tasks involved in business at this level.
I have learned so much from your article and all these comments. Thank you, everyone!
http://finishagent.com
http://academicwritingclub.com
My goodness! I think many women can relate (myself included) to feel like you are alone on a cliff as a woman in the ramp up stage of your business. Before you go out with your business plan and pitch deck I hope you make sure that you are well prepared to get financing. Many woman go into the venture world without the necessary preparation. That sort of preparation is not my area of expertise. It is utterly key.
Thank you so much for your wonderful support for this event. The Fabulous 50 it certainly is. The time has come for women to get the capital we need to fund our businesses. I am so looking forward to your ideas!
Warmly, Eli
I was astounded last year at the TEDxBayArea Global Women Entrepreneurs Conference to learn just how few women-founded startups are getting funded.
I started WomenLaunch because of that -- we're an organization committed to empowering women to start, lead, and grow businesses. We are especially focused on women who have some experience in the world and have chosen to start something new.
We believe that women have an awesome capability to deeply network and have used that on behalf of family, children, and causes -- what's next is to take those skills, commitment, and focus to network on behalf of our own businesses. To create a powerful interconnected web of women starting and women funding in an ecosystem that is profitable and contributes value to our lives.
I love all of the initiatives written in these comments -- thank you everyone! I invite you to join ours as well: http://www.womenlaunch.com
-Kathryn Gorges
Thank you so much for sharing about. It is shocking to see how few women get the support and funding "To create a powerful interconnected web of women starting and women funding in an ecosystem that is profitable and contributes value to our lives.". It sounds like http://www.womenlaunch.com is a very interesting place. Building the ecosystem is key for sustainable growth.
I hope everyone finds these resources helpful that we've curated and shared! Cheers! Misty Gibbs, Founder of Empower Lounge
http://www.empowerlounge.com/
http://empowerlounge.com/top-networking-groups-for-women-entrepreneurs/
http://empowerlounge.com/events/
It's fantastic to see what you are doing at http://www.empowerlounge.com. I salute your taking a stand for the women that are committed to building $1M+ businesses. It sounds like there could be some synergy with our tribes. I am so glad to see you taking a stand for women who are clearly committed to big things.
By creating an event just for us, with time to recharge and share our value with each other, you are presenting us all with a precious gift. I'm thrilled to be a part of this event and excited to share my expertise in leveraging ideas into high dollar contracts which can be sustained for years of predictable income. But most of all, I'm anxious to be a part of something that promises to be much more than networking. As women business champions, we can join together and be a force for good in the world.
It is so wonderful to hear your perspective. As a woman leader it is key for you to take the time you need and to inspire other women to share about your $1 million business. So many women are eager to hear about your formula....so they can follow in your shoes.
At last week's Make Mine a Million conference in NYC last week (another great networking venue), I spoke to advisors about why women run into obstacles getting capital and building larger enterprises. Their take: women-owned businesses tend to fall in the services sectors, which are people-intensive and more difficult to scale. AND, women don't go into business with an exit strategy. They're focused on building their "baby" and have difficulty letting go ... which makes it more difficult to let others in (like buyers and investors). So kudos to you for putting together your League of Extraordinary Women (see you at the event!), and thanks for pushing me as I create my "Cashing Out BIG" workshop to better position women business owners to build saleable million-dollar companies..
I am so glad that you will address the problem that you saw at Make Mine A Million. It is a rampant problem.
"...Women-owned businesses tend to fall in the services sectors, which are people-intensive and more difficult to scale. AND, women don't go into business with an exit strategy. They're focused on building their "baby" and have difficulty letting go ... which makes it more difficult to let others in (like buyers and investors).
It is essential that women gain the tools and strategies to create businesses to grow, scale and sell. Thank you for sharing your wisdom.
I always love hearing your perspective! Thanks again, Eli
I am one of the emerging success minded women entrepreneurs and I love to hang out with brilliant women at all stages. I think we learn from the seasoned as well as the new. I have found life long friendships and great business networking through http://new.ewomennetwork.com/. I have also found a nurturing and highly success minded mastermind group with Lisa Sasevich's organization.
We can learn from each and every person. We both adore what Lisa Sasevich and those in her mastermind are up to. Thanks for sharing!!
What business are you in?
My industry is professional organizing however I take a spiritual approach with clients and am launching online 6 week and 12 week programs to work through mental, physical and spiritual clutter challenges for people based on my book The Clutter Breakthrough. I love the Sasevich experience and continue to broaden my reach to serve a great population.
Thank you for asking! So excited about the topic you focus on.
Kelli
Ironically, it was as a featured speaker at the St Petersburg ABWA, that I learned that ABWA was founded by Hilary A. Bufton Jr., a Kansas City, Mo., businessman, who recognized the positive impact women had on the economy. On September 22, 1949, Mr. Bufton and three Kansas City businesswomen incorporated the American Business Women’s Association, and the American workforce was changed forever.
Newer to the market is Working Women of Tampa Bay, a 600+ members and 10,000 social media fans strong. Their goal is to help educate, motivate and inspire female professionals and women business owners. WWOTB has accomplished these objectives with a unique blend of contemporary and traditional networking techniques that inspire and genuinely unite their members. According to founder Jessica Rivelli, “Working Women has a solid place in the economic recovery as more women make the effort to start their own enterprises, build relationships and start strategic sponsorships. A lot of women have taken that challenge, and I believe women entrepreneurs are going to shape the new economy.”
It is wonderful to hear that these networking groups are supporting your professional and financial goals. They sound fantastic! I couldn't agree more.
Jessica Rivelli, “Working Women has a solid place in the economic recovery as more women make the effort to start their own enterprises, build relationships and start strategic sponsorships. A lot of women have taken that challenge, and I believe women entrepreneurs are going to shape the new economy.”
We women MUST take a stand to support one another. BRAVA!!!
https://www.facebook.com/projecteve1
Certainly men have known for a long time that there is power in numbers and we see the monuments to this power and to male exclusivity in the hulking temples of the Masons, the Scottish Rite, etc. that spot most urban areas.
Great piece on an important issue. Keep up the good work, Eli.
You are such an incredible blessing in our community. I am always grateful for your contribution. Thank you for your wonderful link. You are so, so right! What a keen awareness, "the hulking temples of the Masons, the Scottish Rite, etc. that spot most urban areas" are indeed monuments to the power that men held for themselves.
Warmly, Eli
Here are options for women with established businesses and groups to consider to collaborate. The National Association of Women Business Owners has around 60 chapters in U.S. including 8 to 10 in CA. Some in NAWBO with strong businesses allow for excellent networking with meetings, programs and national conference. Chapter sizes vary and the level of business owner. The national web site is www.nawbo.org and it is now based in D.C.with a strong CEO.
The other is WPO-Women Presidents' Organization with headquarters in NYC. This is specifically for women presidents of companies over $2 million in revenue or $1 million for service businesses. Marsha Firestone is the founder and CEO. WPO is a more elite than NAWBO.
Women's Leadership Exchange based in NYC http://www.womensleadershipexchange.com. This is not a membership organization. The founders are very well connected and women you will want to meet. Leslie Grossman and Andrea March.Their conferences and programs are focused on women with established businesses in a growth mode. Leslie has served on Center for Business Women's Research Board and NAWBONYC as President.
Great collaborative opportunities on a national basis. Looking forward to hearing how your Las Vegas program goes. Cheers.