At a recent sales and marketing techniques meeting, I noticed a growing frustration on the part of both salesmen and saleswomen in dealing with companies owned or operated by women. The question most heard at the after-session meetings was a plaintive (and sometimes whiny), “What do they want?” Well, I don’t have the answer, but I know who does, Vanessa Freytag and Sharon Hadary. More about these women later.

FIRMS OWNED OR RUN BY WOMEN ARE INCREASING
The National Foundation for Women Business Owners estimates there are 9.1 million women-owned businesses in the U.S., employing over 27.5 million people and generating over 3.6 trillion in sales. This totals to 38% of all U.S. firms! In addition, women-owned firms are increasing in number at an unprecedented rate: 103% since 1987. That’s a lot of power folks, and we’d better learn how to deal with it!

The marketing men and women on the front line for their firm’s growth over the years have learned how to deal with the typical male businessman. I’m a guy, and I don’t like to think I can be stereotyped, but deep inside, I know that I can. Successful salespeople have developed techniques that ferret out the ego-building reasons some of us men do things, and have learned how to deal with the macho-man syndrome that others of us in power seem to either have or develop over years of doing business. Now, I’m not putting down the male power complex or saying any of this is wrong. I understand what I’m saying, and most people have to agree --- those who have had to sell themselves, their company, and their products to men in power. At the same time, if women in business are a factor to be reckoned with, and if women in business are different, we front-liners had better understand what motivates them. Right?

ONE ANSWER
Now back to Vanessa Freytag. Vanessa, Director of Bank One Woman Entrepreneur Initiative, along with Sharon G. Hadary, Executive Director of the National Foundation for Women Business Owners, has written a book titled: Wise Women: Success Strategies for Women Entrepreneurs. If you don’t have it, get it. As most of you know, I don’t usually pat banks on the back for their actions, but in this case I give an ‘attaboy’ to Chicago’s Bank One for making it possible for anyone to obtain the book Wise Women absolutely free. Order it online at www.bankone.com/women.

HOW TO UNDERSTAND WOMEN
Did you know that 42% of all women entrepreneurs regularly speak with and share experiences with other entrepreneurs; 30% speak, and listen to financial advisors; and 24% speak and take advice from their legal advisors? An amazing 78% of women are personally active in community volunteerism; 54% provide flextime/job sharing for their employees; 39% provide employee profit-sharing programs; and 10% extend child/elder care programs.

I’m sure you, as do I, do not have a full understanding of what these statistics can mean to your bottom line, but we all, men and women, need to know how to deal with this new breed of business owner.

An example of what I mean by differences is how Vanessa defines Social Responsibility: “Social responsibility is about consequences. How will the decisions we make today affect our employees, families, communities, the environment --- and our human spirit --- in the long term?” My question to you is: Do you understand how to apply your firm’s structure, product, service, and image to meet these goals?”

WHAT TO EXPECT IN THE FUTURE
I fully expect a series of co-ed instructional courses to spring up where the differences in approaches to business outlined by Vanessa are explored, taken apart, analyzed, reassembled and implemented. Whether all this is to the benefit of everyone is a moot point --- it’s here, and it needs to be dealt with.