On today’s success call with Dr Randy Horning, he shared some great insight on Women and Business. I wanted to share the notes with you here. Let’s empower and appreciate the women in our lives so that they can achieve greater success and contribute more to society!

The Value and Focus of Women

One explanation has to do with the fact that while women in the United States start their own businesses at roughly twice the rate of men, they are still playing catch-up in most parts of the world. “Women are still at the beginning of their journey to entrepreneurship or higher levels of entrepreneurship,” says Sharon Hadary, the former and founding executive director of the Center for Women’s Business Research. According to that group, only 20 percent of all businesses over $1 million are women-owned enterprises.

Then there are more fundamental issues related to personal goals. It seems that men more often define success in monetary terms while women focus on vision and mission. “Men tend to start businesses to grow them to be large and to be the boss while women start them to do something meaningful and to make a difference,” notes Hadary, who now consults on women’s leadership through her firm Sharon Hadary & Co.

Becoming a billionaire isn’t their objective,” she adds, “As women, many are less likely to have a goal of generating personal wealth, though we are starting to see more and more of that motivation among the younger generation.” Instead they are typically more focused on building companies that reflect their values, provide employment opportunities, do what’s important to them and have the opportunity to fulfill family goals.

Teresa Nelson, McCandless Chair in Entrepreneurship at the Simmons School of Management concurs: “Research shows that women are drawn to organizations that provide values beyond wealth.”

Forbes, June 23, 2010
There is a millionaire in everyone. It just needs to be tapped and released.