| One of the most positive aspects of starting my | | | | women's representation |
| new business has been to explore the amazing | | | | - In the same study, in four out of the five |
| power of women. In my research, networking | | | | industries analyzed, the group of companies with |
| and my work with clients, I have discovered that | | | | the highest women's representation on their top |
| women are supportive, smart, funny, confident, | | | | management teams experienced a higher TRS |
| powerful, honest, successful and great to work | | | | than the group of companies with the lowest |
| with. | | | | women's representation |
| In addition to being so important to me as clients | | | | - For the first time in 20 years, women |
| and friends, women are an amazingly powerful | | | | outnumbered men in higher paying, white collar |
| market segment. If your business does not do | | | | managerial and professional occupations according |
| something special to endear yourself to these | | | | to the Bureau of Labor Statistics(The Washington |
| women, what are you waiting for? If you do not | | | | Post, 2003) |
| hire a great deal of women...start now. Take a | | | | - There are an estimated 10.6 million privately held |
| look at the list of statistics and you'll truly | | | | 50% or more women-owned firms in the US, |
| understand the power of women. | | | | accounting for 47.7% of all privately held firms in |
| - Women are more likely to vote in all but seven | | | | the country, as of 2004 |
| states: Hawaii, Kentucky, Pennsylvania, New | | | | - Privately held, 50% or more women-owned |
| Jersey, North Dakota, Oklahoma and South | | | | firms generate $2.46 trillion in sales and employ |
| Dakota | | | | 19.1 million people |
| - Women are responsible for 83% of all consumer | | | | - Privately held, 50% or more women-owned |
| purchases and account for 88% of retail | | | | firms grew by 28.1% from 1997 to 2004, three |
| customers in the US | | | | times the growth rate of all U.S. privately held |
| - Women are involved in 89% of all consumer | | | | employer firms (9.1%) |
| electronics purchase decisions (an industry that | | | | - Women owned small businesses grew by 30% |
| considers its target customer male) | | | | from 1997 to 2004, compared to 10% growth |
| - Radio Shack's customers have changed from | | | | for all firms over the same time period |
| 20% female seven years ago to 40% female in | | | | - Women made about 81% of what men earned |
| 2004 (CNN.com) | | | | as of the third quarter of 2004(Economic Policy |
| - Women make 80% of all healthcare decisions | | | | Institute, 2004) |
| and control over 67% of all healthcare spending | | | | I personally make my purchasing and business |
| - Single women made up 21% of home buying | | | | decisions based on supporting those in my |
| transactions in early 2003, accounting for the | | | | networking groups, supporting friends in business |
| second largest segment of home buyers (Realty | | | | and shopping at stores that promote women in |
| Times, 2003) | | | | business. For example, in the highly competitive |
| - Women spend 80% of all sports apparel dollars | | | | field of office supplies, take a look at the Office |
| and control 60% of all money spent on men's | | | | Depot website and see how much they do to |
| clothing | | | | support women in business. I have met several |
| - Mothers spend an average of 16 hours and 52 | | | | key senior management women from Office |
| minutes online per week, around four hours and | | | | Depot at conferences and the company |
| 35 minutes more than American teenagers (Nua | | | | authentically gives time and money to support |
| Internet Surveys, 2002) | | | | women's causes and hires women in key |
| In a study of 353 Fortune 500 corporations, | | | | positions. There are two Staples stores and an |
| Catalyst research found the following: | | | | Office Max that I PASS on my way to shop at |
| - The group of companies with the highest | | | | Office Depot. Or, alternatively I shop online at |
| representation of women on their top | | | | their website and have everything delivered to |
| management teams experienced better financial | | | | my office. |
| performance than the group of companies with | | | | As a group, we can really make a difference and |
| the lowers women's representation. This finding | | | | exert our power if we are aware and put our |
| holds for both financial measures analyzed, Return | | | | money where it is truly valued. Conversely, in |
| on Equity (ROE), which is 35.1 % higher and Total | | | | your business, make some changes that will |
| Return to Shareholders (TRS), which is 34% | | | | affect women in a positive way. Hire women in |
| higher. | | | | key positions. Think of the women you know |
| - In the same study, financial performance was | | | | when you craft marketing strategies...what will |
| also analyzed by industry, and in each of the five | | | | cause them to spend their hard earned money |
| industries analyzed, the group of companies with | | | | with you? |
| the highest women's representation on their top | | | | Unless otherwise noted, all statistics come from |
| management teams experienced a higher ROE | | | | the Business Women's Network/Diversity Best |
| than the group of companies with the lowest | | | | Practices 2005 WOW! Quick Facts Women. |