Thursday, April 24, 2014
Women start almost 50% of Maine businesses, but it’s men who sustain their businesses and grow a larger bottom line. Why is this so?
It may have to do with different mindsets that limit or expand their opportunities from the start.
I’ve found that women entrepreneurs tend to focus on earning “enough” instead of embracing a “sky’s the limit” attitude that is more typical of men.
A case in point is how men vs women respond to the question I frequently ask my business-owner clients: “what’s important to you in your new business venture?”
“Well, I don’t need to be rich" is a response I commonly get from women, while men typically have a list of criteria that includes economic growth and the prospect of being acquired one day.
It does not seem far-fetched that the differing motivations and expectations between men and women ultimately impact their financial success and the flow of income into their businesses.
If you are thinking about starting a business, be aware of your expectations and how they might influence what you earn. Recognize that it is okay to think big--beyond what you need to survive.
If you find yourself thinking small, you may want to consult a business coach to help you shift from limiting beliefs to a more expansive view of what’s possible.
I’d recommend Coastal Enterprises, that has a women’s business development program offering free consultations for women at any stage of a new business. It would be a wise place to start.
Barbara Babkirk is a Master Career Counselor and founder of Heart At Work Associates, a career counseling and outplacement firm in Portland.
With a focused and intuitive approach, Barbara makes a difference in people’s lives by helping them design a new life chapter. She has a successful record guiding career transitions for professionals ranging from executives and artists to attorneys and entrepreneurs.
An expert in her field, Barbara is a public speaker on work-related topics writes a solutions-oriented column about work for the Portland Sunday Telegram.
Scott Woodard is a career coach with Heart At Work Associates, a career counseling and outplacement business in Portland, Maine.
Scott works with clients to identify and articulate their value and their personal brand. He helps clients develop clear, concise and crisp messaging to convey their particular difference, their achievements and their approach.
Scott coaches clients to market their brand through social media platforms, especially LinkedIn. He offers monthly workshops on how to make the most of LinkedIn for businesses or job seekers.