18 Oct Women CEO’s: Are they really on the decline?
In the Headlines:
In June 2016, Fortune Magazine headline reads, “The Percentage of Female CEOs in the Fortune 500 Drops to 4%.” In April 2016, a study published by American Express, states “The number and economic contributions of women owned firms continue to rise at rates higher than the national average – with even stronger business formation rates seen since the recession.”
These are only two comparative studies, therefore if women are measuring success by “being the CEO of a large fortune 500 work place and rising to the top as their success criteria” then women should be worried. On the other hand, if women place their worth and values on flexibility, ownership, focusing on niche markets, and adding value to the US economic health one could say the second study is more relevant to measuring their success. Both perspectives are relevant to defining what is important to you as you define your success criteria for the future.
To Provoke You:
Are women giving up on being CEO of a corporation? Are women paving their way to the futures they want? Women owned businesses employ 9M people, generate over $1.6 trillion in revenues, and are now the majority owners of 38% of the country’s businesses. The growth (35%) is primarily in the small and mighty firms with 50-99 employees!
Are women learning from their corporate colleagues and applying all of this knowledge to the businesses they run? Do they build businesses focused on employee motivation & health, diversity of talent and a company culture of intrapreneurship and innovation where employees feel valued and trusted to make decisions? Women owned businesses are investing in the diversity of skills, cultures and learning styles to make their firms stronger by providing their employees a family and culture rich working environment. There has been a large increase in women of color owned businesses with Latinas leading the way in growth in number of firms.
- African American women owned firms (1.9M), employing 377k workers, and generating $51.4B in revenues.
- There are 922K Asian American women owned firms employing 965K workers and generating $170.4B in revenues
- Latina owned firms (just under 1.9M), comprise 46% of all Latino owned firms, employing 550k workers and generating $97B in revenues.
Entrepreneurship can exist within the walls of corporate America and with independent business owners. We can continually learn from each other and unlock the boundaries holding us back. We can leverage our diverse talents, back grounds, educations, and cultures to build improved and new business concepts and products.
Sheryl Sandberg gave women five confidence building exercises in a recent article from Forbes Magazine: 1) Write down 3 things you do well everyday; 2) Put yourself in uncomfortable situations; 3) Speak up. And STOP saying you’re sorry; 4) Get a pep talk from your peers; 5) Try something…fail…& do it again. Perhaps all women have to do is have the confidence, the guts, and the determination to build the type of business they want to own?
When women use these 5 confidence building steps they begin learn more about themselves. They begin to develop more confident in who they are and what motivates them. According to AMEX, “Women owned firms can be found in every single sector of the economy.”
Women have more opportunities than ever to excel. Opportunistically speaking, the areas of construction, transportation & warehousing, wholesale trade, and finance & insurance have not been a focus for women owned businesses. These areas are ripe for the picking ladies!
The Future CEO:
You are the CEO of your future. Don’t defer it to others. Do you have the confidence to break barriers, build futures, and be the CEO of YOU, Inc.?
Don’t know where to start? Give us a call 860-930-6521. We are here to help you uncover the hidden confidence and potential in you. Attend one of our workshops or schedule a customized session for your team. www.LeadingtoUnlock.com