5 Tips for Women Looking to Succeed and Lead in Business
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Did you know women-owned businesses in the United States generate more than $1.4 trillion in revenue each year? Florida is ranked fourth in the nation for the number of women-owned businesses, with more than 596,000. Female entrepreneurs are not only abundant, they’re a driving force in today’s economy.
The Commonwealth Institute (TCI) hosted it’s Tenth Annual Awards Ceremony and Luncheon Honoring the Top Women-Led Businesses in Florida on Thursday, April 2, 2015, to recognize, support and honor those women whose hard work paves the way for the next generation.
The event recognized the Top 50 Women-Led For-Profit and the Top 10 Women-Led Not-For-Profit Businesses in Florida, based on the 2015 Women-Led Business Survey that TCI distributed to roughly 5,000 women in the state earlier this year.
A panel of female business leaders, moderated by Janet Altman of Kaufman Rossin, discussed how women in a variety of industries make leadership decisions, encounter and overcome obstacles and encourage the next generation of ambitious young women. The panelists were:
- Alexandra Villoch, President and Publisher of the Miami Herald
- Ginger Martin, President and CEO of American National Bank
- Kuky Salazar, President of Latin America, Europe and Asia for Private Jet Services
- Gillian Thomas, President and CEO of the Patricia and Phillip Frost Museum of Science
The panelists identified tips for young women looking to succeed – and lead – in business.
1. Be your authentic self. Ginger Martin spoke about her experience in the male-dominated banking industry. She advised that women avoid trying to force acceptance of their male peers. “I’m glad that I took the time to prove myself,” said Martin. She added that women shouldn’t feel pressure to change their personalities to fit-in.
“Don’t emulate someone else’s leadership style,” added Alex Villoch. Finding your way in business and maintaining success requires you to stay true to yourself, your values and your goals.
2. Don’t let discrimination discourage you. Villoch recalled a time earlier in her career when she was asked to get coffee for a meeting with her male coworkers. She was so frustrated by the request that she accidentally spilled the coffee all over them. “They never asked me to get coffee again,” she joked.
Rather than be discouraged, the panelists suggested facing discrimination head-on. “Don’t be afraid to speak up,” said Gillian Thomas. “You have a right to be in the room.”
3. Know what you want and ask for it. Whether you’re asking for a promotion, seeking a mentor or just looking for feedback, all of the panelists agreed that women shouldn’t be afraid to go after what they want.
“Be specific when asking for what you want,” said Kuky Salazar. “I’m happy to help women who ask me to mentor them or ask for my advice, but I can’t help them if they don’t tell me what they want.”
4. Utilize your connections. Martin recently returned from Freedom Climb, where she scaled Mount Kilimanjaro to raise awareness for the plight of human trafficking victims. Climbers were able to raise approximately $800,000, with $320,000 coming from South Florida. According to Martin, they were able to raise that money by leveraging their personal networks.
In fact, 65% of the women who responded to the 2015 Women Led-Business Survey identified their personal networks as a factor that contributed to their success. Building a network and leveraging it can open doors for young women looking to find success in business.
“Organizations like TCI are a great resource for developing a personal network of intelligent and influential women,” said Altman.
5. Find more than a mentor. Survey respondents overwhelmingly agreed with the statement that “women have mentors who offer advice; men have sponsors who offer opportunities.”
Mentors are a valuable resource, but it’s up to women in leadership roles to offer more than advice to up-and-coming female professionals. According to the panelists, young women seeking this type of mentorship should be willing to:
- Be proactive in selecting a mentor
- Ask – and listen to – their opinions
- Trust your sponsor
- Consider different advisors for different needs
The panelists agreed that women face choices and obstacles in business that men typically don’t. Support from mentors and professional networks, staying true to themselves and speaking up can help them to succeed.
“The doors are open,” said Thomas. “We just have to push them and walk in.”
It was our privilege to be involved in this event, and to meet many of the powerful women who drive Florida businesses!
The luncheon was very well done. The panel discussion was very interesting and informative and we got to celebrate a number of the Top 50 Women at the luncheon. Bravo TCI and K&R – great job.
I thought the panel was excellent and interesting! I came from the electronics manufacturing field starting in the mid-1980’s. I was able to relate to much of what the panel discussed at the luncheon, such as: I didn’t have any specific mentors, there were few women in the field, and I always tried to be myself throughout my career. I enjoyed the upfront answers!