Celeste Friend, CFP(r)

5 Keys to Making the Most of Being A Woman Owned Business
by Janet W. Christy
based on her book CAPITALIZING ON BEING WOMAN OWNED

In working with women business owners individually and in workshops for the last four years, Janet W Christy developed a practical guide titled Capitalizing On Being Woman Owned to help Women Business Owners use their status to their advantage. Here are five key points from that book.  It’s all about the angles - Finding the best angle for the situation and using it effectively is vital. Woman Owned Businesses have a built-in angle, which is the fact that they are woman owned. This angle can be used very effectively if a business understands how to leverage it with existing and potential clients/customers. A woman business owner must clarify her business (products, services, territory, prospects) in order to use this or any other marketing angle successfully.
 Buyers need Woman Owned Businesses - Government agencies, education institutions and businesses of all types and sizes have determined that there are real benefits to using Woman Owned companies. Each type of customer/client has its own requirements and methods when it comes to purchasing diversity. Some set goals; some require their subcontractors to use Woman Owned Businesses and many require woman owned certification.
 You can never know too much about your customers/clients - Knowing their existing and potential customers/clients will help woman business owners understand their needs and perceptions and how those relate to the service and/or product provided. This knowledge will assist the owner in knowing how to use the woman-owned status to advantage.
 Navigating the maze of resources and opportunities can be frustrating - Because the Woman-Owned issue has become so important there are programs and guides and classes and certifications and workshops and websites presented by state governments, municipalities, economic development organizations, colleges, chambers of commerce, non-profit organizations and the list goes on. It is much like a person fresh off a diet in a bakery that also serves ice cream; everything looks great, but how do you choose – you will likely end up with a headache from the stress of choosing or a stomach ache from choosing too much, maybe both. This abundance of help points back to two things – owners must clarify their business and know their customers/clients (existing and potential) in order to take advantage of the appropriate assistance.
 There are no magic marketing formulas - Unfortunately woman business owners cannot wave a magic wand – or a marketing plan – over the phone and make prospects call. It takes work to market a business. Having a plan and implementing that plan are essential to the success of a business. However, the plan must be customized for an individual business and its prospects and include ways to leverage the best angle or angles, particularly that of being woman-owned.
About the Author - Janet Christy has spent the majority of her professional career in marketing, sales and public relations positions. Today she uses that experience to help Small, Woman and Minority Owned Businesses maximize and profit from their opportunities. She also works with government agencies on development programs and services for entrepreneurs. In 2003 Janet formed Leverage & Development, LLC, a consulting firm focused on helping Small and Woman/Minority Owned businesses and government/education entities. The firm has several service offerings including marketing research and planning, certification assistance and sales guidance.
www.leverageanddevelopment.com
www.janetchristy.com
janet@leverageanddevelopment.com