Female entrepreneurs have distinct needs

If men are from Mars and women are from Venus, it stands to reason that their thoughts on running a business would be just as different, right?

Norma Rist certainly thinks so.

The president of CEO Consulting Inc. has made it her mission to figure out what makes female entrepreneurs tick.

The former Pepsi-Cola executive shows hundreds of people – men and women – how to start, grow and manage a venture. And on top of her day job, Rist also runs workshops for women business owners.

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"I’m no wise guru," said the co-author of "Small Business Savvy: A Woman’s Guide to Building a Business." "I just have the experience of working with 200 to 300 women personally."

What she has found is that many women have a list of hang-ups that undermine their ability to start, and more importantly, grow a company. Her theories obviously don’t apply to all women but do describe many who are in charge of small businesses.

In order to succeed, women need to first be aware of the pitfalls that are specific to them, said Rist. Then they can solve those problems in their own way.

Success also takes drive.

"Sometimes you have to fight like hell," said Rita Shisler, who owns Shisler’s Cheese House in Orrville, Ohio. "You have to prove yourself – as a woman and as a business person."

Women want it all – and they want it all equally.

They want independence, they want a flexible schedule so they can take care of their families, they want empowerment, they want to be a role model, they want to make money, they want respect, they want to make a difference. … The list goes on and on.

"They think it’s a magic solution to all of their needs," Rist explained.

But it can’t be.

Women have to accept that their business can’t be everything to everybody. They have to make choices about what’s important to them, and set priorities based on those choices. The way to do that is to focus on your immediate needs, whether it’s getting financing or raising your children.

Shisler turned the cheese house into a nursery of sorts when her father-in-law gave it up 35 years ago. She tied both sons’ walkers to the store’s floor so she could stay close to them while she worked.

"Women look at it as part of our lifestyle," she said of businesses. "Men look as it as ‘This is my job.’ "

Shisler also chose to focus on customer service, giving the business what she calls "a woman’s touch."

Repeat customers expect her to ask about their grandchildren and be behind the counter seven days a week. It’s a personal relationship that Shisler relishes and fears will be lost if the $1-million-a-year business expands any further.

"You have to select a business or fashion a business to meet your priorities," said Janice H. Robinson, executive director of Women’s Organization for Mentoring Entrepreneurship & Networking. "Men are successful in business because they have wives at home to do all that other stuff."

Women’s Organization for Mentoring Entrepreneurship & Networking, or WOMEN, brings old-boys-club type resources to women. The Akron agency offers mentoring, financing and training, sometimes for a fee and sometimes for free.

Robinson calls it a "full-service salon" – and the pun is intended.

Generally speaking, men have an easier time setting priorities when it comes to business, often because their list is smaller to begin with. Rist said men want wealth, power and security above all else.

Why?

Because men typically start a business for economic reasons. Women, on the other hand, choose self-employment for autonomy and recognition based on the relationships in their lives, said Lilli-ann Buffin, a social worker who specializes in human development.

"The business world developed around a male perspective, but women were always a presence," said Buffin, who owns New Developments Life Enrichment Services in Wooster, Ohio. "While men were ‘getting the job done,’ women were in the background attending to the details, shaping appearances and smoothing over relationships."

Women aren’t used to breaking the rules, Buffin said. And even though the number of women-owned businesses topped 10.6 million in 2004, finding a woman in charge is noteworthy for some people.

"By the time children enter the first grade, they are well aware of which things are considered important for boys and which for girls," she said. "Boys are concerned with how things work and what they can do. Girls are socialized to be concerned about appearances and obeying the rules."

So, starting a business is a risk.

Women worry about everything from how that business will reflect on them, to being around for their children, to what will happen if they make more money than their husband, to being snubbed by other women for being too businesslike, to being ridiculed by men for appearing too weak, Buffin said.

"Not too many men worry about ‘Gee, do I look just perfect?’ or ‘Did the kids eat breakfast this morning?’ " Shisler said.

What it boils down to, Rist said, is men are valued for what they do and women are valued for what they do for others. That makes risk a very big problem, because women feel their whole world is at stake.

"Say if a women has two employees and can grow to six," Rist said, "she will hesitate, because if she fails the two employees could lose their jobs."

Risk should be assessed. Entrepreneurs should ask themselves:
• What am I risking?

• How will this risk affect my family and business?

• How can I control this risk?

• What will happen if things go wrong?

• What will happen if things go better than I expect?

• Is it worth it?

Hopefully once those questions are answered, Jones said, taking a chance won’t seem like an unthinkable leap of faith.

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