Do Women Hold and Advantage in Business?

rontowns25 — Fri, 11 Jul 2008 17:58:39 GMT

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In 1988, Linda Hollander was anything but wealthy. "Worse than broke" is how
she puts it. She was deep in debt, working at a dead-end job with people she
didn't like, and "always getting off at the jerk exit" of a highway filled with
abusive men. Her self-esteem was so low that she believed she was only getting
what she deserved. Fortunately, she had an epiphany and decided to make her
life count for something.

With no formal business training, Linda and her lifelong best friend started
a successful packaging company called the Bag Ladies. Linda also started the
Women's Small Business Expo in Los
Angeles and wrote the #1 Amazon best seller Bags to
Riches: 7 Success Secrets for Women in Business. On our call, she shared the
seven secrets of success she used to create her prosperous small business and
build lifetime wealth.

1. You've already got what it takes.
Linda believes the seeds of greatness are already inside you. You were born to
manifest greatness, live your purpose, and live your mission, she says. If
something stops you (and it's usually fear), face it head-on. Surround yourself
with a success team who support your vision.

Linda also believes that only one thing separates successful people from
those who merely dream about it: action. Knowledge is not power, she says;
taking action on knowledge is power. If you want to be successful, start with
an idea, get knowledge, and then take action.

2. Your business is a lifetime self-improvement course.
"School is never out for the pros," Linda believes. If you want to be
successful, practice lifetime learning. Go through life with the wide-eyed
innocence of a child who's willing to learn new things. If somebody talks about
a subject that you know a lot about, don't tune them out. You can always learn
something new. If you stop learning and growing--if you're not on top of your
industry--your competitors will fill in the gaps you're missing and take away
your business.

As an employee, Linda learned a lot from her bosses--especially the bad
ones. "My bosses just did not treat people well," she recalls. "I made a vow
that . . . when I had my small business, I would treat people well, and treat
them with respect, and really treat them like family." Make your business a
lifetime self-improvement course for yourself and your employees. To give them
the best work experience they could ever have, answer their questions, never
lose your temper, and give them a sterling recommendation when they move on.

3. A woman's yardstick is different than a man's.
Linda strongly suggests that you pay attention to the opposite sex, because we
can all learn from each other.

Women define success as living on their own terms and reaping internal
rewards, such as being able to spend time with the family, being able to do
what they want, and not having to worry about money. Women focus on connection
and relationships; that's their strength in business. By following their
example, you can learn to be more nurturing. Hone your business relationships,
be responsive, give your staff the power to handle complaints immediately, and
you'll develop lifetime customers.

Men define success more externally: getting the nice house, the nice car,
the toys, the gadgets. Men invest in themselves regularly and without apology.
Follow their lead and attend the high-priced seminars, hire the consultants,
and do what it takes to raise your skill sets and learn new things.

4. Wealth only corrupts the corruptible.
Wealth doesn't corrupt you, it only exposes what you already are. Wealthy
people who are giving and benevolent were probably generous before they had
money; now that they have it, they can do even more. Watch out for media
messages-they'll try to convince you that wealthy people are greedy and
corrupt, but they rarely report the good things wealth can contribute.

5. Selling is nurturing.
Fast-pitched sales presentations and scripts are a thing of the past. Today,
selling is about asking questions, listening more than you talk, hearing your
customer's pain, and providing brilliant solutions. If you don't feel
comfortable as a salesperson, give yourself a different title. Think of
yourself as a consultant, a nurturer, or a problem solver.

6. The octopus is mightier than the elephant.
Most companies do what Linda calls "elephant marketing": a one-pronged approach
that mainly consists of waiting for the phone to ring and relying on referrals.
She recommends something quite different. "Octopus marketing," as Linda calls
it, is an elegant, streamlined, multi-pronged approach. Instead of waiting for
the phone to ring, try a variety of marketing methods, such as direct mailing,
e-mail blasts, and placing ads in many different vehicles (directories, the
Yellow Pages, print, radio, cable TV).

7. The heart weighs more than the wallet.
Linda's last success secret may be the most important. She says, "The people in
your life that you love are not interruptions on your success journey. If you
have to go to a play for your kid, if your husband or wife wants you to go away
for the weekend, this is what life's all about. Work is not what life is all
about. So just remember those people in your life that are your touchstones and
please don't miss your children growing up. Please don't miss time with your
friends and your family that you will never get back again."

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Do Women Hold and Advantage in Business?