The New Power Girls: Business Women Who Know Their Company's Value -- And How to Stand On It

The founder sitting across from me is deadpan as she talks about revenue on the project she just pitched to another company that morning. She doesn't blink an eye as she names the high six-figure amount she'll request, following it quickly with the reasons why her services are worth the number. Half way across the country, the same type of discussion takes place frequently via phone with good friend and fellow entrepreneur, Paulina Glater, as we talk about business. Glater's stance is so solid when it comes to earning what she deserves, I often refer to her as "the money girl."

If there is one trait I admire most about the women entrepreneurs I have met and know, it's their inherent ability to not just recognize the value of their companies, but also, their refusal to be shaken from it.

Power Girls know what they're worth, and they're not afraid to stand on it.

It's a chorus heard among countless numbers of today's successful women. From shopping experts and media consultants to internet start-up founders and retail store owners, the new era of women in business know what their companies have to offer -- and they champion for it.

"Determining value is all about having faith in your own ability to execute," said entrepreneur Meghan Cleary, of Miss Meghan Media. As America's go-to expert for footwear insight, she's frequently courted for speaking engagements and appearances throughout the country and tapped for her insight as a business consultant, often requiring intense business negotiation.

"Never partner with people who don't understand your value!" she adds.

For Echoage.com co-founder Debbie Zinman, it's a matter of others grasping why she'd invest time and money in concept that benefits others. Blurb.com's Karen Hartline, a highly sought after event planner in the internet business, has learned over time to recognize and stand on her worth -- even if it means letting go of a partnership where the other party is difficult.

"I have to realize that my time and expertise is valuable for what I do," she shared over email.

It can be a tricky balance. As the founder of my consulting and content production company, 9 Group, I often have to set a competitive price for services, demonstrate to prospective clients that it's worth it, and adhere to it as we continue negotiations. Fees are created with market prices and the recession in mind -- and often highly reasonable. Yet, once while in talks with a company, the owner continuously badgered me to reduce 9's fee, despite that it was already below market price as a favor to the friend who introduced us. Each time I tried to reorganize his service plan to fit his budget, he'd balk and demand that he be given all of the service he wanted at the price he could afford.

In the end, I walked away from the table. After exhausting every avenue to try to adjust our work to his budget, I felt the time spent on the project would have been better allocated to other clients and new business development. To this day, my company still thrives.

It's a characteristic every person should have, regardless of gender. Today's modern women entrepreneurs know their worth -- and they earn it.

Comments

[americaforme]

Women either are, like the "view" or "Caspers Milk Toast" Women are now "used by men" to be the publics whipping boys. CNN is a major good example, women are tossed out to deep horrible rebutal, and told to hold the line. Beauty is used as a buffet, to keep the wolves at bay. We the American women see the happenings, and laugh, and then cry for our gender. Scrooge doesn't love women he uses them.

[jewels5]

"Today's modern women entrepreneurs know their worth -- and they earn it." Well said. I have met an incredible modern woman entrepreneur -- and she's 74! This year, she launched http://www.silverplanet.com, a website for those 55+ --to inform, inspire, and interact. This is the 3rd major business she has started. She was one of the first women brokers in Philadelphia area, and she still owns her FINRA firm (one of the few women-owned in the US). She has also developed a great deal of real estate properties including many that are historically certified. To read more about this 74-year-old woman entrepreneur see http://www.silverplanet.com/meet-our-founder.

[Patricia Handschiegel - Huffpost Blogger]

That is just awesome!

[mdh6604]

I completely agree and I'm about to be put to the test with a meeting this week with a potential buyer for my business. It has been on the market for several months, and with the downturn in the economy, I'm sure the buyer will be looking to buy it at a bargain. I've got a business broker, and I've already told him in no uncertain terms that I'm not letting it go for anything less than what I think it's worth, despite the recent revenue declines that have hurt the profitability picture.

The potential buyer is another woman and I hope she'll come to the party in good faith. It's a restaurant, and she should know that she cannot build a place on her own that's as distinctive and upscale for what I'm selling it for. I've also spent a tremendous amount of time, money, and energy building the customer base and establishing the brand, and that "goodwill" is worth a lot.

[Patricia Handschiegel - Huffpost Blogger]

It totally is. What you're talking about is totally so hard to build, and not everybody has the ability to do it. Good luck on the project - my email's in my profile. I'd love to hear how it goes.

[mdh6604]

I had that "nagging feeling" that something wasn't right. She went out of her way to be friendly and understanding about the challenges of a restaurant. I gave her the benefit of the doubt, however. I figured this experienced restaurant owner would present a reasonable offer.

I'm asking for nearly $200K, way below my investment to date and the outstanding debt. The construction project alone was nearly $200K. She offered $11,000 with a two-year plan to pay me five percent of gross sales to get all rights to the brand, recipes, and a non-compete condition. I asked my broker if there was a “1” and/or “0” missing, and when he said no, I nearly came through the phone. For that money, I could keep it, take all the tax write-offs, and liquidate it when my lease expires in a year.

Understandably, we've been on a slow climb toward profitability, and 2008 was a really tough year. Had it not been for the economy, we would have been profitable. Most restaurants take at least three years to break even, and with her so-called 30+ years of experience, she insulted me with this offer.

She, and the broker for that matter, completely sidestepped my investment and brand equity. She cannot build out a space, regardless of its potential profitability, for what I’m selling it for. I told my broker to tell "sister girl" to make a serious offer of at least $150K before I'll even consider it.

[Sarah Hurty]

I agree completely. I learned this the hard way. I'm just now having to let go of a year long partnership because the original deal is not being honored, and the partner just does not see the value of what I bring.

Fortunately I've been forging enough new relationships and clients that I'm more than compensated for the loss.

Definitely stand for what you are worth. It doesn't mean you can't give someone a gift as you choose -- but that's the operative word -- choose. I give often, and love it. But when you stand for what you are worth, your whole business goes better. And, incidentally, you can give more freely and healthfully too.