The Emotional Toolkit
The seminar was chaired by Leslie Lundin, managing partner of LBG Realty Advisors LLC, and co-chaired by Sonia Ransom, partner of Allen Matkins. Lundin explained that she came up with this concept of a women's entrepreneurial spirit when looking at opportunities during the recession. "I worked in the corporate world for 19 years and I always wanted to get out on my own and be an owner and operator," she said. "When the world crashed and burned in September 2008, I looked around and said 'this is the time'." Lundin explained that the groups that are formed right now are the ones that will last through the next cycle. Her overall message? "Ignite your passion."
The seminar also featured Barbara Champoux, partner at Crowell & Moring LLP, and past chair of CREW Network's Industry Research Committee, who presented the results of the CREW White Paper: Glass Ceiling or Sticky Floor. Champoux pointed out that women should be proactive in seeking solutions to hurdles of advancements. "Although women have been increasing in the work force, senior level promotions have remained stagnant," she said. "Whether you start your own company, or start your own business, you need to overcome misperceptions," she said. "It is about the quality of work, not the quantity of work."
Champoux also pointed out that it is clear that women-owned businesses are a major player in the economy, but that one of the issues they are faced with is not necessarily starting it, but growing it. There isn't a lot of guidance of formal programs available on how to grow it and take it to the next level, she said. "In order to effectively crash through the glass ceiling, you have to be proactive by creating and maximizing your own opportunities … leverage a bad economy into a good experience for yourself."
In one session, women entrepreneurs who started their own businesses discussed their experiences, why they took the step, and what unique challenges they have faced and continue to face. They also talked about how they overcame those challenges, how they structured and funded their companies, what worked and what would they do differently. In another session, panelists discussed the opportunities that exist in the investment community and through government programs for women-owned businesses.
The author of The Emotional Toolkit, Dr. Darlene Mininni, focused her presentation on the emotional and logical side of making a decision to become an entrepreneur. Mininni pointed out three important questions to ask yourself when looking into starting your own business. The first question is: "Is entrepreneurship a good idea for me?" She pointed out that that particular question forces you to look inward and figure out what you value and forces you to ask what you want to be.
The second question, she said, is "How can I better use my strengths in my business?" She explained that people that use their strength in their business make more money, are more successful and feel more energized.
The third question, she said, is "How can I find my risk sweet spot?" She pointed out that the "risk sweet spot" is a place where you aren't playing it so safe that your life is boring or predictable, but safe enough that it isn't too risky. "We are prewired on how much risk we like to take," she said. In order to find that spot, she said, you have to go to that place in your mind that takes you to the worst place, the "what if I fail" place, and ask yourself if you could actually handle it. If you could, then you might want to consider taking that risk, Mininni advised.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
