Bring R. Shawn McBride’s The Advantages of Women in Business Partnerships to your next event!
WOMAN'S ADVANGE IN BUSINESS RELATIONSHIPS
McBride For Business | November 2016
We are all different. Are genders are different and handle things different. Sometimes, a difference can highlight an advantage. For some – an advantage is not crucial but for business owners, an advantage can be the difference between going out of business or thriving.
Women are different than men. Today, women business owners represent a fast growing segment of the US economy. The woman’s advantage in business partnerships is something that can be capitalized on.
The research supports, women-run partnerships are different than men-run partnerships. The purpose of this presentation is to highlight how women partnerships can use their advantages.
This presentation is not about stereotypes and generalizations. But, the research does tell us that women often act differently than men in social and business situations.
As an attorney, business strategist and consultant I have been able to collect important information about people and the way they conduct business. I spend a lot of my time working with business partners. I help people put together all kinds of partnerships:
Men – Men partnerships – 2 or more men working together to build a business;
Men – Women partnerships – a combination of men and women working together; and
Women – Women partnerships – 2 or more women working together.
My work lead to me realizing that women had certain advantages in business partnerships. Then I started to look at research to see what advantages existed.
WOMEN – WOMEN PARTNERSHIPS
The research clearly shows that women-only partnerships should outperform others. The business world is catching on and finding that many of the characteristics that come naturally to women in social settings and in our communities are beneficial in business partnerships.
WOMEN ARE LEADERS
Women are leaders. In many cases, women are known to be the head decision-makers in a family. Women know a great deal about market demands because they make up 80% of consumer buying decisions. Women are used to making important decisions and when you are running a business you have a make a lot of decisions. In fact, one of the biggest struggles for many owners of a new business is making decisions…and here women are often more prepared than men.
It is has been supported that women-run business partnerships achieve a higher level of job satisfaction than their counterparts.
THE 3 C’S
The advantages of women in business lie in the balancing act of employing three characteristics: cooperation/ collaboration, communication and compromise – we will call these characteristics the 3 C’s. It just so happens that these 3 C’s are features that help business partnerships work well whether men or women are involved in the partnership.
Cooperation is the process of working together to achieve the same end. Collaboration is when two or more people contribute to the accomplishment of certain a common goal.
The difference between the two is nuanced. For our purposes, we consider them to be interconnected. Women tend to adopt business environments that exhibit cooperation rather than competition. This suggests women prefer to cooperate with each other. Women seek out social interaction and in the process form cooperative groups.
According to a Forbes article, the top 3 qualities of a successful business partnership are: (1) a team that is (2) cooperative and has (3) shared goals! Women want to create environments of cooperation – women are more likely to have the tools to be better at cooperation!
For women, a collaborative working style results in increased job satisfaction and a higher quality outcome. Men have been known to adopt directive-oriented and competitive working styles.
In the business world, this translates into women working with their community by collaborating rather than being part of a competitive team. When women focus on collaboration and “win/win” outcomes it creates strong long-term business alliances.
The Second Key Factor is: Communication. Communication is the imparting or exchanging of information or news, particularly between people or places. Analysis of gender differences between men and women in the workplace have stereotyped women as having different communication styles than men. And it turns out research shows men and women view the purpose of communication a bit differently.
Women use communication as a tool to enhance social connections and interaction. Women have been found to indeed be better communicators than men because women put a higher value on communication.
Yet, women often report feeling anxiety or uneasiness in the negotiation process. And all negotiations are is controlled communications. For women business owners to get the most value out of the negotiation process, women must be aware that there is an actual gender bias – women are viewed to be weaker in negotiations and fold easier. When women were reminded about and told to focus on impression, they claimed more value in the negotiation process. This is interesting in that, if women are reminded before a negotiation they will act more assertive and authoritative because they are cognizant of the bias.
Compromising is to settle a dispute by mutual concession. Compromise almost always occurs among two decision makers when a woman is involved in the process yet hardly ever when the pair are men. This research is especially important for women business owners and managers who are the decision makers in a business. Women will choose to compromise on an issue by using the ‘Goldilocks Effect’; finding the option that is just right for both decision makers. Why is this so important? It keeps the business moving forward. Many businesses get caught in a stalemate where no one wins which results in no growth to the business.
MAKING A DIFFERENCE
What if women felt more empowered, more liberated or more able to follow their dreams? What if women used these advantages to collaborate and to do more? How might the world be changed? Women could lead even more. Women could be in more powerful roles. Women could shape businesses and employment to work well for both genders. Women have advantages. Use them!
firstname.lastname@example.org | (214) 418-0258 | www.mcbrideforbusiness.com
R. Shawn McBride’s signature keynote is The 3 Laws of Empowerment
McBride For Business, LLC offers speeches, training and consulting, including on women in business. Call us for a consultation.