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The Power of Women

One of the most positive aspects of startingcompanies with the lowest women's
my new business has been to explore therepresentation
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 asthe  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 endearoutnumbered men in higher paying, white
yourself to these women, what are you waitingcollar managerial and professional
for? If you do not hire a great deal ofoccupations according to the Bureau of Labor
women...start now. Take a look at the listStatistics(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 butin 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 South2004
Dakota
- Privately held, 50% or more women-owned
- Women are responsible for 83% of allfirms generate $2.46 trillion in sales and
consumer purchases and account for 88% ofemploy  19.1  million  people
retail  customers  in  the  US
- Privately held, 50% or more women-owned
- Women are involved in 89% of all consumerfirms grew by 28.1% from 1997 to 2004, three
electronics purchase decisions (an industrytimes 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 infrom 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 healthcareof the third quarter of 2004(Economic Policy
spendingInstitute,  2004)
- Single women made up 21% of home buyingI personally make my purchasing and business
transactions in early 2003, accounting fordecisions based on supporting those in my
the second largest segment of home buyersnetworking 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 apparelhighly competitive field of office supplies,
dollars and control 60% of all money spent ontake a look at the Office Depot website and
men's  clothingsee how much they do to support women in
business. I have met several key senior
- Mothers spend an average of 16 hours and 52management women from Office Depot at
minutes online per week, around four hoursconferences and the company authentically
and 35 minutes more than American teenagersgives 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 highestto  my  office.
representation of women on their top
management teams experienced better financialAs a group, we can really make a difference
performance than the group of companies withand exert our power if we are aware and put
the lowers women's representation. Thisour money where it is truly valued.
finding holds for both financial measuresConversely, in your business, make some
analyzed, Return on Equity (ROE), which ischanges that will affect women in a positive
35.1 % higher and Total Return toway. 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 performancetheir  hard  earned  money  with  you?
was also analyzed by industry, and in each of
the five industries analyzed, the group ofUnless otherwise noted, all statistics come
companies with the highest women'sfrom the Business Women's Network/Diversity
representation on their top management teamsBest Practices 2005 WOW! Quick Facts Women.
experienced a higher ROE than the group of



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