Tag Archive for: women in business

female entrepreneurFemale entrepreneurs have been making waves in business, breaking barriers, and defying stereotypes in male-dominated industries. Despite their challenges, women are creating successful companies that are making a significant impact in their industries. In this blog, we’ll explore the strategies that female entrepreneurs can use to build a successful business in a male-dominated world.

From identifying a niche to building a solid network, developing a business plan, and embracing digital marketing, we’ll provide insights and practical tips that can help women entrepreneurs achieve their goals and overcome obstacles. Then, we’ll share some women in business statistics so you can see real-world examples of how women are currently leading the charge.

So, whether you’re a seasoned entrepreneur or just starting as a young woman in business, read on to discover how to turn your entrepreneurial dreams into a reality.

Find a niche:

When starting a business, identifying a gap in the market that you can fill is essential. This could be a product or service that’s not currently available or an area where there’s a lack of competition. Conduct market research to identify potential opportunities and validate your ideas.

Steps to building a strong network:

Networking is an essential part of entrepreneurship. Building a solid network is an integral part of entrepreneurship—especially in industries completely dominated by men. Here are some steps to help you build a strong network:

1. Identify your goals:

Before you start building your network, you must identify your goals. What do you want to achieve? Who do you need to connect with? Having a clear idea of your goals will help you focus your efforts and build meaningful relationships.

2. Attend events:

Attend networking events, conferences, and industry associations. Look for events that are relevant to your industry or interests. This will help you connect with other like-minded individuals and potential customers.

3. Join online communities:

Join relevant online communities and participate in discussions. This could be on social media, forums, or other online platforms. This will help you build relationships and gain insights from others in your industry.

4. Leverage existing relationships:

Remember your existing relationships. Reach out to former colleagues, classmates, and acquaintances. Tell them about your business and ask for introductions to potential customers or other relevant individuals.

When building relationships, it’s important to be genuine and helpful. Refrain from approaching networking with a transactional mindset. Instead, focus on building meaningful relationships with others. Offer value and help others whenever possible.

5. Follow up:

After meeting someone, be sure to follow up. Send an email or connect on LinkedIn to stay in touch. This will help you maintain relationships and keep the conversation going.

By following these steps, you can build a strong network to help you succeed as an entrepreneur. Building relationships takes time and effort, but it’s worth it in the long run. You can also nurture an inner circle of women as you network — this can help support your growth and advancement in your industry.

Develop a business plan:

A business plan is a roadmap for your business. It outlines your goals, strategies, and financial projections. A well-written business plan will help you stay focused and on track. It will also be useful when seeking funding or investment.

Embrace digital marketing:

Digital marketing is an effective and cost-efficient way to promote your business. Use social media, email marketing, and other digital channels to reach a wider audience. Develop a content marketing strategy that provides value to your audience and positions you as an expert. This is especially important in key job markets where women are underrepresented, like STEM.

Continuously learn and adapt:

Entrepreneurship is a learning process. Stay up-to-date with the latest industry trends and innovations. Attend conferences, read industry publications, and seek out mentors and advisors. Be open to feedback and adjust your strategies accordingly. Continuously improving and adapting will help you stay ahead of the competition. These statistics are a great way to learn from the past to be a force to be reckoned with in the future:

  • Currently, women wield approximately $10 trillion in financial assets within the U.S. This number is expected to surge to $30 trillion by the close of the decade. (CNBC)
  • Women-led companies generated approximately $1.9 trillion in earnings, employed 10.9 million people, and maintained an annual payroll of $432.1 billion. (Census)
  • Women-owned businesses are projected to contribute to approximately 6% of the anticipated global economic growth. (Mastercard)
  • In 2022, 45% of female-owned business loan applications were accepted. (FED Small Business)
  • 71% of women business owners feel prepared to navigate through an economic recession. (Bank of America)
  • 44% of women-owned businesses experienced an increase in annual revenue in 2022. (FED Small Business)
  • In 2022, 21% of women-owned businesses had an annual revenue between $100,001-$250,000. (FED Small Business)
  • In 2022, 60% of women-owned businesses displayed profitability. (Guidant)
  • A significant 59% of women business owners acknowledge having to exert more effort to achieve the same level of success as their male counterparts. (Bank of America)

By following these strategies, female entrepreneurs can increase their chances of building a successful business. Staying focused, working hard, and persevering through challenges is important for success. With dedication and some luck, you can turn your entrepreneurial dreams into a reality.

Women in Business Statistics

(The opinions and views of guest contributions are not necessarily those of theglasshammer.com).

Alena Brenner “I realized—and it is a powerful attitude shifter—that everyone you encounter as you navigate your career is in a stage of development,” says Alena Brenner. “While we all have things we are working on, you can still learn from everyone and every interaction.” Brenner, executive vice president, general counsel and corporate secretary at Cornerstone Building Brands, talks about how the immigrant experience influences her work, inventing her own career path to prioritize balance with longevity, networking in male-dominated industries and allowing mistakes to fuel her learning and growth trajectory.

Shaped By the Immigration Experience

When she was a girl, Brenner’s family escaped from Ukraine before the country achieved independence from the former Soviet Union, receiving asylum in the United States. While learning a new language and acclimating to a new culture, she watched her parents work multiple jobs to give their family a new start and a better life.

“The immigrant experience is core to who I am, and because it is so foundational to my identity, I have a natural tendency to put in the hard work it takes to recognize and seize opportunities to learn and grow,” says Brenner. “When my family left Ukraine to pursue a better life, I felt the benefit and burden to both live up to expectations and have gratitude for the opportunities available to me that I would not have had if my family had not immigrated to the United States.”

While she was in high school, she won a scholarship offered by her father’s union to children of union members which allowed Brenner to attend Cornell University. After college, as she considered opportunities to land in a ‘respectable’ field that would provide financial independence and allow her to pursue a variety of career options, she turned to law.

Upon graduating from Fordham University School of Law, Brenner spent nine years with a prestigious law firm, but knew she didn’t want to pursue the partner track. While Brenner was going through a divorce and raising two young children, an in-house opportunity at Anheuser-Busch InBev in New York City became available. Brenner accepted the challenge and went on to play a crucial role in helping integrate two companies after a merger to build the foundation for a new global enterprise.

Forging Her Own Career

“Everyone is on a different path. Some paths may not be linear and may depend on where you are in your life’s journey,” says Brenner. “You’re going to learn to prioritize different things at different stages in your life.”

As a global executive in a high-profile, high-stakes business, Brenner’s career was exciting. But while she loved her job and admired her boss, the pace the work required was not sustainable as she managed the challenges of being a single mother. Though still highly career-driven and ambitious, she realized she wanted to be closer to family and to have the support and balance that offered.

Brenner moved to Miami where her parents lived and accepted a position as corporate counsel with Ryder System, Inc.— a $9 billion transportation and logistics company. She was quickly promoted and eventually became Deputy General Counsel, having expanded the scope of her role significantly. Nine years later, she was tapped to lead Cornerstone Building Brands legal function, a C-Suite role she began in 2021.

Inquisitive and a planner/builder by nature, Brenner has always been interested in learning more about the “how” and “how can we make it better” in her work, which is one reason she was drawn to roles in logistics and manufacturing, including her current position with Cornerstone Building Brands, where she’s spent the last 12 months creating a more robust and effective legal, compliance and risk management team.

Additionally, Brenner knew she wanted to join an organization that believes strongly in cultivating a collaborative and inclusive culture. She found that under the leadership of President and CEO Rose Lee. “Rose has been breaking every ceiling imaginable,” says Brenner. “She strives every day to close the gender gap in our industry and to promote a workplace that is diverse and equitable. She is fostering a culture where team members are encouraged to engage in open dialogue around complex and often difficult topics. We’re also living our purpose through the company’s sustainability, ESG and DE&I mission and goals.”

Currently, Brenner is charged with laying the foundation for a new ESG team and is spearheading the development of a comprehensive, industry-leading sustainability program.

‘Everything Is My Job’

Having worked across a spectrum of male-dominated industries such as beer, tobacco, consumer packaged goods, transportation and now industrial manufacturing, Brenner’s aptitude has enabled her to build relationships with essential business partners. She has a strong track record of taking on strategic business challenges by committing to understand the issue at hand and collaborating with all those involved, at all levels, for context and understanding.

“I think people sense that I’m genuine and earnestly trying to help them be successful in their roles. I am willing to offer an honest, third-party assessment of any issue,” she says. “If you demonstrate that, people start coming to you for counsel and view you as a business partner.”

Brenner has adopted a mentor’s mantra: Everything is my job. Whether calling a manufacturer to solve a high-stakes challenge or running to FedEx to ensure a package goes out on time, anything that contributes to the company’s success is within her scope. “Everything that comes across your desk, you own it and you have a responsibility to make it better,” says Brenner. She looks for the same mindset and sense of ownership in new company hires, too.

Embracing Mistakes as Part of Growth

“I realized—and it is a powerful attitude shifter—that everyone you encounter as you navigate your career is in a stage of development,” says Brenner. “While we all have things we are working on, you can still learn from everyone and every interaction.”

Inclined toward perfectionism, Brenner received excellent advice from one boss on the importance of not being too hard on yourself: The only people who don’t make mistakes are the ones not doing anything. They’re not taking any risk or they’re delegating. Brenner says she was encouraged to make mistakes, which led her to learn more and grow confidence in her legal work and in areas outside of her field of expertise.

“Too often, people are reluctant to take on responsibilities outside of their areas of expertise or comfort zone for fear of failing or because they work in a culture that does not reasonably view mistakes as opportunities to learn, grow and innovate. As a leader, you have to be willing to support a degree of risk-taking to signal to others that making those leaps are supported and encouraged,” says Brenner.” You want to grow and develop people who have ambition and want to learn, so you act to support them and allow them to make mistakes, give the necessary feedback to avoid repeating them and move on to solutions.”

Brenner notes that if she makes a mistake, she might spend a few hours reflecting on what she would have done differently. When she wakes up the next morning, it’s a new start with a unique advantage. She is now better equipped for success because she can apply the lessons learned reflecting on her decision-making to achieve higher performance.

Finding Her Own Way

Working in industries where men tend to fill the highest ranks of leadership, Brenner has often found herself the lone woman in the room. This hasn’t come without challenges, including finding people willing to talk to her, sit next to her or include her in informal networking that is often critical to career advancement. She admits she’s over-prepared, an overachiever and works especially hard to prove her value.

Her networking strategy is to go to as many meetings as invited to, attend events regularly and visit manufacturing facilities with the intention not only to build connections, but also to learn about every aspect of the business.

Serving Others

When she’s not working, Brenner has spent her time working pro bono supporting refugees who have been victims of torture or scarred in some way on their asylum-seeking journeys. She has also helped female victims of domestic violence obtain green cards and gain independence from abusive partners. The work is life-changing for those it impacts, and though often intense, it is also immensely fulfilling.

With her children now 17 and 14, she’s focused on enjoying her time with them before they leave home to make their own mark on the world—one that she’s determined to continue to make better.

“If a certain approach isn’t working, then I know I need to pivot to achieve my goal instead of giving up on it,” says Brenner. “There are infinite ways to pursue your aspirations, so if one way doesn’t work, you can try others until you achieve your goal.”

By Aimee Hansen 

Woman-on-a-ladder-searchingBy Aimee Hansen

As we enter Asian-Pacific American Heritage month, we can say this about the bamboo ceiling: no matter the myriad of individual, cultural, and organizational factors holding it in place, it’s likely to be costing businesses.

As we look to Asian American women at the top of corporate leadership, Indra Nooyi, Chairperson and CEO of Pepsi Co (for a decade now), ranks #2 in Fortune’s 50 “Most Powerful Women in Business”and #15 in Forbes’“The World’s 100 Most Powerful Women”.

But Nooyi is the only Asian American woman represented in the Fortune ranks and joined only by Chinese-born Weili Dai, Cofounder-President of Marvell Technology Group Ltd, at #95 in Forbes list.

Catalyst data has shown that Asian women make up only 4.4% of manager and above level positions and under 2% of executive positions in S&P 500 companies and 3.7% of board seats. If you really want to know about successful Asian American women business leadership in the U.S., you have to look at a different list.

Self-Made Women Who Grow Businesses

In May, 2015 Forbes introduced a new women in business success list – “America’s Richest Self-Made Women” – which tells a different story about Asian women at the top of successful business ventures in the U.S.

Asian American women claim nine of the 50 spaces across various industries – including #4 (Jin Sook Chang – retail), #13 (Peggy Cherng – food), #14 (Thai Lee – tech), #15 (Neerja Sethi – tech), #21 (Weili Dai – semiconductors), #29 (Jane Hsiao – biotech), #30 (Jayshree Ullal – tech), #34 (Vera Wang – fashion), and #41 (Sachiko Kuno – pharma).

Nearly one in five of the richest self-made women are Asian Americans. Thai Lee’s SHI International is the largest female-owned business in the US according to Forbes and one of the largest minority-owned businesses.

The Wall Street Journal also sums up, based on a new report from the Center for Global Policy Solutions, that minority-owned businesses were “a key driver of business and job-creation”between 2007-2011, responsible for 72.3% of new jobs. The most dramatic shifts were among female entrepreneurs – and most of all, Asian Americans.

The number of Asian American women owned businesses increased by 44% and those hiring paid employees by 37.6% during that time, and these businesses also witnessed an uncommon growth in sales.

According to the center, catalyzing the share of businesses lead by minorities to mirror the minority share of the labor force would result in 1.1 million more businesses, nine million more jobs, and $300 billion in income for workers.

The under-representation of minority female leadership, and resulting missed financial opportunity, is not limited to entrepreneurship. It’s also present with the missing Asian American leaders in corporate America.

The Employee-Executive Gap

Last year, a diversity study across five companies entitled “Hidden in Plain Sight: Asian-American Leaders in Silicon Valley”by Ascend demonstrated that, as put by The Atlantic, “Asian Americans professionals aren’t being promoted”and that showed especially true for women.

The study found that while 27% of professionals across five major tech firms were Asian American, fewer than 19% of managers and less than 14% of executives were. But for Asian American women in the sample, only 1 in 285 were an executive (versus 1 per 201 for Asian Men, 1 per 123 for white women, and and 1 per 87 for white men).

The report states, “The ‘Asian effect’ is 3.7X greater than the “gender effect”as a glass ceiling factor. The Asian effect was measured at ~154% for both men and women. The gender effect was measured at ~42% for both whites and Asians.”

According to The Atlantic, “Rather than blatant discrimination, report coauthors Denise Peck and Buck Gee (and Janet Wong) say, this disparity is a result of implicit biases. They say that Asian Americans need to learn the leadership skills that corporate America values, such as adapting public speaking skills to fit their company, while the executives themselves need to learn how to best retain and promote Asian American talent.”

The Glass Hammer has previously written about the barriers of success for Asian women facing two ceilings (glass and bamboo) that add to a greater whole – barriers such as cultural differences and culturally internalized norms, cultural stereotypes and expectations, social perception and self-perception, and the imposter syndrome.

The report authors identify “three major Asian leadership gaps: a gap in awareness and expectations, a gap in role models, and a gap in behavior”and asserts that both Asian American professionals and companies need to take steps in closing these gaps that contribute to many professionals in “most successful racial group in the United States”from being promoted to leadership roles in tech businesses.

Jane Hyun, author of Breaking the Bamboo Ceiling, speaks to the misperceptions that can come from cultural factors such as holding back to show respect, as well as the importance of self-promotion. “…I realized it’s not just about working hard, but knowing how to communicate what you’re doing, having the right mentors and sponsors, and connecting with people in a way that people understand what you’re doing and the value of what you’re trying to achieve as well.”

Closing the Bamboo Gap

Forums such as The Asian American Business Roundtable, which held its inaugural summit in January, help to address the gaps. One of the specific objectives is to increase the visibility and presence of Asian Americans in the U.S. business area, and the summit included panel discussions with women trailblazers sharing insight on their success.

Where strong cultural gaps exist, the work needs to come from both sides, but one thing is clear: If nearly 1 in 5 of the most monetarily successful self-made women (read: bosses) are Asian American, then the potential for leadership in the corporate world is greater than what is being realized, and that’s a gap that could be costing businesses more than they think.

Business meetingRecently, I had the privilege of facilitating webcasts on women in leadership for the Association of Talent Development (ATD), the world’s largest professional training organization, and for the career services program for Georgetown University alumni association.

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womenladder.jpgBy Elizabeth Harrin (London)

Based on the BBC2 documentary “The Trouble with Working Women,” which ran last week in the UK, it appears that the trouble with working women is, well, men.

“Think manager, think male,” says Professor Ryan from Exeter University, as she stands in front of a board covers in statistics showing that women get a raw deal in the workplace. Only 19.3% of MPs are women. Women earn an average of 17% less than men. Thirty thousand women each year lose their jobs because they are pregnant.

Newsreader Sophie Raworth, who herself has three children under the age of five, visits a boxing club where the trainers tell her that a woman’s place is in the home. She smiles politely while looking like she wants to clock the guy. Later, a roving video both gives members of the public the chance to spill their private thoughts about women at work and I’m surprised at how easy it was for the BBC to find people willing to confess that men should be the breadwinners and women should stick to the kitchen.

Thirty years ago the feminist movement had it cracked – by now we were all supposed to be equal. Another statistic comes through the voiceover: at the rate we’re going it will take another 50 to 60 years to get near equal. The BBC is nothing if not fair, so the presenters visit a woman who runs her own small business and won’t recruit women of child-bearing age. “It’s not illegal,” she says. She doesn’t want to risk everything she’s put into the business by having to bail a woman out during maternity leave.

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