by Gina Blitstein

Just when you thought you were in a minority as a woman business owner, along comes the fact in a publication by the Center for Women's Business Research that one in eleven adult women in the U.S. now owns a business. Female entrepreneurship has been growing at twice the national average for over a decade, currently accounting for 30% of all U.S. businesses. So how do the roughly 10.1 million firms owned by women fare in the entrepreneurial arena?

They are tremendously successful. Collectively, women-owned businesses generate $1.9 trillion in sales while employing 13 million workers. In addition to their substantial fiscal contribution, women-owned businesses offer some significant benefits to their employees. Overall, women-owned businesses employ a more gender-balanced workforce of 52% women/48% men than their men-owned counterparts at 38% women/62% men. They are also more likely to offer such perks as flex-time, tuition reimbursement and profit sharing to their employees.

Women-owned businesses are pulling ahead in the big leagues with firms employing 100 or more increasing by 44% as opposed to 26% growth among all other businesses. This research also shows that these high revenue women-owned businesses account for 67% of the total revenue and 59% of total employment of all women-owned firms in the United States. In fact, according to a report released in December, 2008, by the Center for Women’s Business Research, women own 20% of the firms with revenues exceeding $1 million.

Let's examine how these women-owned businesses are reaching the big leagues. What factors contribute to a million-dollar business success story?

The research for this report, underwritten by American Express OPEN? and The Jana Matthews Group, sheds light on the common personality traits of these successful businesswomen that may contribute to their success.

“This research reinforces what many involved in women’s advocacy efforts have known all along: that women business owners create jobs and generate revenue from which we all benefit,” said Amy Fitzgibbons, senior manager of American Express OPEN. “Identifying and sharing best practices of successful women business owners is the key to helping even more women entrepreneurs achieve that same level of success.”

The findings identify several vital differences in overall management style that distinguish those who grow million-dollar businesses and those who don't. Apparently it is important to make a transition from working "in" the business to working "on" the business.

By delegating the day to day operations to others, these women can concentrate their efforts on cultivating beneficial relationships within networks and the financial community. They have stepped up to their responsibility, making the distinction between the mindset of employee and that of CEO.

Other findings show that women business owners who exceed the million-dollar revenue mark typically share these traits:

• Are “gutsy,” action-oriented women.
• Have a solutions orientation.
• Believe that a larger business is provides more freedom.
• Are energized by the “business of growing a business.”
• Create their own rules.
• Focus on internal business culture.
• Are life-long learners.

“This research is ground-breaking and provides new insights about successful women business owners,” said Jana Matthews, founder and CEO of The Jana Matthews Group. “The fact that many women have managed to grow a company to $1 million or more is great news. Now that we have ‘cracked the code,’ we should be able to help more women grow more successful companies with revenues in excess of $1 million.”

How are you exercising your "million-dollar strategy?"

by Gina Blitstein

Smaller business owners their and employees often wear many hats. Due to budget constraints or a certain sense of personal ownership, hiring someone to take on even routine functions is often not an option. But should it be?

Let's face it...as much as you want to be a business superhero, no one person can do it all. Some jobs are too technical, some are outside your knowledge base and others are simply too time-consuming.The question you must reconcile is, "How much is my time worth?"

Let's consider the option of outsourcing certain jobs as a savings tool rather than an expense - even for the smaller business.

According to Sandra Roos, owner of a virtual assistant company, Shadow Executive Services, hiring a virtual assistant can free up a professional's time to do what he or she is best at - utilizing talent and abilities to the fullest.

Sandra recounts the story of an entrepreneur who was doing everything herself when she began her business. While her greatest strength was selling, she was spending too much time doing data entry and little tasks that were really more administrative in nature. Although the client was capable of doing those jobs, that time could have been more productively spent networking and developing relationships, which is the key to getting business.

Through her administrative partnership with this client, Sandra has gained her trust. As a result, she delegates more and more functions to her virtual assistant's capable hands.

Sandra says that there are several ways a virtual assistant can help you make the most of your valuable professional time. A virtual assistant can help you clear more time to do what you do by fulfilling the following functions for you:

• Word Processing/Secretarial Services. Includes transcription, answering phones, tracking schedules and making appointments
• Bookkeeping. Includes invoicing, reconciling accounts and writing checks
• Database Management. Includes keeping track of client information, leads and communications
• Desktop Publishing. Includes creation of marketing materials, price lists and newsletters
• Mail and Email Services. Includes sorting of mail, keeping up with routine correspondence and sending outgoing mail
• Internet Services. Includes editing and maintaining current web site information as well as creating and sending email newsletters

Many virtual assistants have specialized fields, such as real estate or are adept at skills such as copywriting, graphic art or website development. Sandra says a new and powerful offering from virtual assistants is the mastery of social networking. "I've seen VAs who are starting to be LinkedIn/Facebook/Twitter experts. A lot of entrepreneurs hear about these things but they don't understand how they work, how important it is to keep it up to date, etc." In that sense, a virtual assistant can even function as a marketing resource for your business.

So how do you justify hiring a virtual assistant? Keep in mind, your time is valuable, so you should use it effectively. Don't bog yourself down in tasks that are not the most efficient use of your time and abilities. Determine which tasks you spend time doing for your business that aren't strictly within your job description.

Organizations like The International Virtual Assistants Association provide a database to help in your selection of the virtual assistant that's the right fit for you. Although delegating responsibilities to an outside entity can be emotionally difficult and there is cost involved in hiring someone, you're actually buying yourself more time to practice your business.

Sandra asks her clients, "Do you think Oprah does everything herself?" Give your business the benefit of more of your expertise in action - it's the most valuable investment you can make.

What do you delegate to others? What do you still hold onto that you should let go?

by Gina Blitstein

Sure, you know how to use your computer - when you know how to use your computer! But what about when something goes wrong, you need it to do something new or you need to learn something new? You may not feel so good about the relationship between you and your computer then.

You could call the so-called "computer doctors" to drive to your location but you don't want to wait for a house call. You could ask for advice at a computer store, but again, you're talking about a lot of lost time, lost productivity and lost patience.

Where can your business turn to get the computer help, advice and information you need quickly and within your budget?

Did you know that the computer support you need is actually closer than you think? As long as your computer has a working internet connection, remote desktop support is a way for an expert to access your computer from another location - that is, remotely. By using remote desktop or screen sharing software, an expert can "see" your machine from theirs from any location. They can guide you through changes or even, with your permission, take control of your computer.

There are many types of assistance available through remote desktop support, including:

1. Solve computer problem. Technicians troubleshoot when your computer is running slow, or you have viruses, you cannot install/uninstall a program, computer won’t boot up, a program is crashing,  you need to set up a network, or you have Windows issues.

2. Training/Tutorial.  Receive coaching on how to set up and use software programs and gadgets. Learn the ins and outs of using PhotoShop, Illustrator, your wireless router, firewall, your blog/website, Windows. The IT experts can teach you.

3. Just get a tip. Know about products before you buy them or download them for free. Ask about Linux, Mac, Windows or even iPhone. If you want an expert opinion about a new software you are considering, the best blog platform, a free tool for a specific function, or any question about your computer, you can get your questions answered.

CrossLoop is one company which developed software to enable the "miracle" of remote desktop support. Mrinal Desai, co-founder and VP of Sales and Business Development of CrossLoop says it's easy to establish remote access:

1. Download the program from CrossLoop.

2. Install the CrossLoop application on both of their machines.

3. Launch the software, give your special access code to person helping you and click connect.

That's all there is to it. Next, go to the CrossLoop Marketplace to find a specific technician to help you with the repair, advice or training you need.

You may wonder if it is safe to have someone else controlling your computer.

"Absolutely!" Desai says.

CrossLoop requires a person to be at both computers, and requires agreement from both users to share their desktop screens. A connection cannot be established with CrossLoop unless a user is present at both computers. Once the access code (randomly generated each time the application is run) is shared with the trusted party, the user  'sharing' their computer must also click on the "Allow" or "Deny" button of a confirmation screen before control is given.

The CrossLoop experts are independent contractors, so prices vary from technician to technician. The hourly rate ranges from $25 to $65. Most give free estimates. You can pay by PayPay or Credit Card

It is clear the benefits to remote desktop support are many, including:

• Immediate access to assistance, advice and training 24/7, worldwide
• Cheaper than hiring a full-time IT staff
  
• Relationship-driven, so you can work with the same technician from session to session who will be familiar with your computer and its history

When looking for immediate, cost-effective, expert computer support and information for your business, you're now able to get what you need without leaving your desk.

by Gina Blitstein

So you've decided that your business is ready to go for a bigger share of the market. Where do you locate the big contracts you need to turn that aspiration into reality?

According to the College of DuPage Business and Professional Institute web site, the U.S. government purchased more than $300 billion worth of goods and services last year. These purchases covered a broad base of products including machined parts, processed food, engineering services and printed materials. Those are some impressive figures!

So how do you go about reaping a portion of that financial bounty? Let's explore the process of doing business with the U.S. Government.

Throughout the country, there are cooperative government programs to assist your firm in becoming a government supplier. One such program is the Procurement Technical Assistance Center (PTAC). There are ninety PTAC centers nationally with a mission is to help businesses expand through government contracting at all levels - local, state and federal. PTACs are grant-funded so the majority of their services are offered free or for a nominal fee.

According to Rita Haake, Manager of PTAC, Center for Entrepreneurship, College of DuPage in the state of Illinois, here's specifically what the program can provide:

• Customized, computerized bid matching. Clients supply keywords that describe their product/service, and PTAC puts them into their system searching over 400 sites per day identifying opportunities at the local, state and federal level. The system begins with FedBizOpps then searches any other known government procurement sites. Clients ideally receive one email per day with opportunities.

Certification as a Women-owned Business Enterprise (WBE) is one way to align your business for consideration for some government contracts. As a certified WBE, you will be eligible to compete for contracts from agencies seeking to do business with women-owned firms. Both government agencies and large corporations often have goals to contract with minority businesses, such as those owned by women.

While there is no women-owned certification at the federal level, Haake says, "The federal government does have a 5% goal, but it is primarily executed by major corporations. When they win an award of $550,000.00 or more, they must subcontract out 5% of those dollars to a women-owned small business."

The fact that the U.S. Government funds these cooperative programs demonstrates a willingness to provide opportunities for growing your business to the next level. With the knowledgable assistance and experience of a program like PTAC, the process need not be overwhelming. Regardless of your location throughout the country, resources are available in the private sector, the government as well as the world of education to assist you in finding - and securing - these lucrative opportunities.

by Gina Blitstein

Everyone feels stress from time to time. Whether it stems from your work, your family, finances or personal issues, stress can drag you down, making even the simplest things more difficult. When you are stressed, the quality of your life, relationships and work suffers. What can you do to calm yourself so you can deal more effectively when you feel overwhelmed?

• Mind traffic. The more you have going on in your own mind, the more stress you may feel. Having a lot on your mind stresses a person to the point where she feels she is dealing with too much - like when driving in heavy traffic. A less overwhelmed person is better-equipped to avoid that feeling of "sensory overload." Although it's not often possible to keep your mind traffic light, awareness that a busy mental "street" is more difficult to navigate may lead to some personal insight.