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