Tag Archives: women-owned business

woman business owners

Are Women Better Business Owners? Here are 5 Reasons Why…

Do women make better business owners and managers? If you’re a woman thinking about starting a business and are afraid to take the first step, or if you’re a man contemplating about asking a woman to be your business partner here is some food for thought.

Here are 5 reasons why women are successful in business:

  • Research and due diligence: According to the SBA, “U.S. women have far less business failures than men,” and “The longevity of their businesses surpasses that of men’s.”
    One reason for this is that before taking the plunge into anything women are known to do their research, get all the facts together, investigate and not cut corners. This in one sense allows women to make better business decisions leading to higher business success.
  • Questions, questions, questions:  You may not like it but often women are known to ask lots of questions to get to the bottom of things. Questions help to clear doubt, remove confusion, and zero in on what really needs to be done. Clearing things up on the get-go before any business involvement, can go a long way in doing business transactions, which make women excellent business partners.
  • They listen: This might not come as a surprise but women can often be much better listeners. Although women may ask questions first, they are also careful to listen to the answers they get back. This allows a woman to quickly understand the pain points of her customers and empowers her with the information required to provide the products and services that the customer actually needs.
  • Relationships are key: This is by far one of the biggest strengths a woman has – her ability to form and develop relationships. Business relationships and networking with the right people can often form the backbone of a woman-owned businesses. Strong relationships also fuel lasting loyalty which is why women continue to be successful and profitable and are able to main long-lasting relationships with business partners, customers and employees.
  • Empathy: Some may think that being compassionate can be seen as a sign of weakness, but for many women, it’s the reason for being so successful. Having empathy allows women to build deeper relationships with employees, for example, who stay loyal and will go out of the way to help her succeed. Empathizing with customers shows them that she cares about their problems, which helps to not only build client trust but also helps her to possibly find a better solution to their problems.

    Are you a woman business owner? Which points most struck a chord with you? Let us know in the comments below!

Want to be a Successful WBE? Learn How Mentorship can Propel Your Business to New Heights

If you’re a successful business woman you understand the important role a mentor can play in your success. Many people take advice from family and friends and although that is fine, usually what ends up happening is most people will tell you what they think you want to hear, and not what you should hear.

Receiving candid feedback from a third person is key to achieving business success and growth. Getting mentored from someone who’s been where you are now can go a long way in avoiding costly mistakes and making better decisions to achieve your business goals and professional aspirations.

If you’re new to business and lack experience or perhaps you don’t have the knowledge about a certain area of your business like procuring contracts for example, you can leverage the skills and knowledge of a mentor to guide you in the right direction and deter your inexperience from ending up as a liability.

Introducing the WBEC-West CEO Ambassador Program!

The Ambassador Program is a One-2-One, CEO-2-CEO Business Connection program created to empower certified WBEs with one-on-one coaching and mentorship from a seasoned WBE who has been successful in leveraging both their WBENC certification and resources available through WBEC-West and WBENC.

The CEO Ambassador Program is unique to WBEC-West, and Ambassadors are located throughout the WBEC-West territory which spans across Arizona, Southern California, Colorado, Hawaii, Nevada, Utah, Wyoming and Guam. If you are a certified WBE in one of the above States you may apply either as an Ambassador or wanting to be assigned an Ambassador.

At WBEC-West our incentive for creating this program is that we believe that our own individual growth is fueled by coming together, collaborating and supporting one another’s growth. Through programs like these, we can build the ideal platform for individual and collective success.

To participate or learn more about the Ambassador Program go to: http://wbec-west.com/ambassador-program/

Top 3 Questions You Need to Answer Before Applying for WBENC Certification

You may have heard of WBEs or WBENC certification, but are not sure what exactly it means to be certified and how certification will help you. This post aims to clear some doubts and will help you determine if you are eligible to apply or qualify to be certified as a WBE.

 

Q1 – Do I qualify as a WBE?

A1 – A Women’s Business Enterprise, or in short a WBE, is an independent business that is at least 51% owned and controlled by one or more women who are U.S. citizens or Legal Resident Aliens; whose business formation and principal place of business are in the U.S. or its territories; and whose management and daily operation is controlled by a woman with industry expertise.  If you said yes to all of the above, you are eligible to apply for certification.  Also note that a WBE is the business, not the individual.

 

Q2 – What is the purpose of getting WBENC certification?

A2 – WBENC certification offered specifically to women-owned businesses is one of the most broadly recognized and esteemed certifications in the US. The certification is accepted by hundreds of corporations nationwide including  a number of federal, state, and local government agencies.

Often there are procurement opportunities reserved for WBE’s and getting certified means you get a chance to apply to these contracts not available to you if you were not a WBE.

Also by getting certified you can display a badge of certification on your website making it an important marketing tool for expanding your company’s visibility among decision makers in corporate supply chain diversity and procurement organizations.  Getting certified also gives you access to other WBE’s to do business with or partner with for joint ventures.

 

Q3 – Do I apply to WBEC-West directly and what are the fees?

A3 – If your business is registered in Arizona, Southern California, Colorado, Hawaii, Nevada, Utah, Wyoming or Guam you can contact us directly to start the certification process. For other States click here to see which territory you fall under and contact that RPO directly.

Fees are determined individually by each RPO so if you fall under the WBEC-West territory please contact us directly for fee details or any other questions you might have about the certification process at: http://wbec-west.com/contact-us/

Benefits of WBE Certification for Business Growth

Although women-owned businesses are growing in numbers nationwide, they still lag behind their male-owned counterparts in terms of revenue and business growth.

In a recent article in The Business Journal it stated that:

According to a report released last year by the National Women’s Business Council, the number of women-owned firms jumped 26 percent between 2007 and 2012. The 2012 numbers are the most recent available and showed more than 9.8 million women-owned businesses in the U.S. that year.

The overwhelming majority of the studied firms — 89.5 percent — employed no individuals other than the female owner, however, and reported total receipts of just over $182.2 billion.

There are several organizations established to specifically address the trend of slow growth and help WBEs grow their business footprint. Two Federal entities include the Small Business Administration’s (SBA) Women Owned Small Business (WOSB) and Economically Disadvantaged Women Owned Small Business (EDWOSB) certifications.

The programs require businesses to demonstrate a minimum of 51 percent ownership by one or more woman and that she be actively involved in the company’s management.

Especially when it comes to EDWOSB the criteria is as follows:

To qualify for the EDWOSB certification, businesses must demonstrate that the owner’s net worth is less than $750,000, her adjusted gross yearly income average from the three years prior to applying did not exceed $350,000 and the fair market value of all her assets does not exceed $6 million.

Stating the importance of WBEs getting certified, Dawn Golik, deputy director and public affairs officer with the SBA’s Fresno District Office stated that, ““It gives them a competitive edge and opens the door to new contracts that might otherwise have been out of reach.”

Benefits of WBENC Certification through WBEC-WEST

Once you are certified through WBEC-West you become a member of the WBEC-West Community, which allows you the ability to communicate with  other certified WBE to share best practices and to grow WBE to WBE connections and corporate relationships.

You will also be able to attend WBEC-West hosted corporate workshops including the coveted Platinum, Supplier Program, watch  videos, broadcasts and podcast that provide insider information on how to  successfully engage corporations and increase your exposure and opportunities.