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A Joint Research Project by Cheskin Research Santa Clara University Center for Innovation & Entrepreneurship The Center for New Futures
Women Entrepreneurs Study
Women have become a key driving force in the growth of new business. They also have faced unique challenges and obstacles in developing new ventures and accessing the resources necessary for them to succeed. In spite of equal educational opportunities and the perception that the playing field is becoming equal for men and women, the proverbial “glass ceiling” still exists. Typically women entrepreneurs are still finding it very difficult to procure venture capital support for new ventures. In addition, moving upward through senior executive ranks in corporate America is also still a challenge. Women started business at twice the rate of men in 1997, yet they received only 2% of institutional venture capital money. VentureOne estimates that today less than 10% of venture funding goes directly to women-owned companies. The 1999 Catalyst Census of Women Board Directors of the Fortune 1000 found that women hold only 11.2 percent of board seats at the 500 largest publicly traded U.S. companies and that this year women hold only 5.1 percent of “clout” titles (Chairman, Chief Executive Officer, Vice Chairman, President, etc.).
The study was undertaken to: • Provide an understanding of the differences in the business challenges and experiences between female and male entrepreneurs by addressing the following hypotheses: • How and with whom one develops relationships is key. This differs between men and women. • Openness to opportunities and flexibility to act on these opportunities is key. This differs between women and men. • Those who fund new ventures look for specific types of experience that women are less likely to have than men. • Provide an understanding of the differences perceived by Venture Capitalists between female and male entrepreneurs. • Provide insights that will stimulate discussion and guide the future development of programs, coaching and experiences to help increase women's effectiveness within the startup arena. In addition the results of this study should benefit everyone facing typical business challenges today.
© 2000 Cheskin Research, SCU-CIE, CNF
Women Entrepreneurs Study
Highlights of the Study
1. Men and Women differ significantly in their networking skills. Men spend more time networking in order to further their business goals than do women. This doesn’t necessarily indicate that women are less social. In fact women value their ability to develop relationships. It may be that men integrate business into their social lives more than women do. 2. Women and men share the same motivations driving them in their entrepreneurial and business pursuits. However, contrary to the common belief that financial gain is the primary motivator for entrepreneurs in today’s emerging markets, more interpersonal values take precedence. For example, most valued is cultivating relationships with clients, followed closely by taking on challenges in order to learn, and next by mentoring others. One of the least important motivators is making money. 3. Traditional gender differences still exist. Successful women consider themselves nurturing, compassionate, sensitive and polite, though neither gender considers these traits essential for success in business. Men tend to consider themselves team players more than do women. Sports as a business metaphor has widely different interpretations; and while many women played team sports in school, they did not necessarily see this as an experience which was key in the development of their business skills. 4. Some respondents from the Venture Capital community feel the reasons women receive less funding have more to do with circumstances than with any intrinsic gender differences. For example, women leave the workforce to raise children, more men seek funding than women and women lack management experience. 5. Women see themselves as having a more difficult time balancing personal life and work than men do. This may be because women still carry more of the burden of raising and providing emotional support for the family. This means that women often shoulder more responsibilities overall than men and, in some cases, may force them to opt out of advancement opportunities in management. 6. Successful women and men agree on and embody a majority of attributes associated with entrepreneurs. These include persistence, a positive attitude, creativity, and vision. However women value courage, independence, strength, and fearlessness more highly than men do. These value differences are likely a reflection of the attitudes women have had to maximize in order to succeed in the business world.
© 2000 Cheskin Research, SCU-CIE, CNF
Women Entrepreneurs Study January 2000 Methodology The research consisted of three phases: interviews with experts in the field of venture capital to understand some of the core issues facing entrepreneurs and VCs. relationships (with colleagues.” Among the areas that were explored: attitudes toward entrepreneurship.Online Survey An online questionnaire was emailed to female and male business school graduates and entrepreneurs. Particular attention was paid to identifying and “fleshing out” those points that were novel and/or showed significant differences between genders.Psychographic “life view. Respondents were chosen from Santa Clara University MBA graduating classes of 1985 1993. Phase III . • Demographic profiling concluded the survey. The results of these interviews guided the development of the other portions of the study. an online quantitative survey. staff). respondents were also recruited from the Forum for Women Entrepreneurs member list.Expert Interviews Cheskin conducted a series of twenty-minute phone interviews with five experts in the fields of developing and funding new business ventures. The interviews included a discussion of the findings from Phases 1 and 2 in order to obtain insight on some of the issues raised in the findings. career). and a qualitative follow up. rigidity). values (family vs. The respondents were recruited from personal and professional contacts of Cheskin and the Sponsors. The survey took approximately 15-20 minutes for a participant to complete. CNF 4 . Output and Synthesis Cross tabulations were incorporated to synthesize the data according to the study objectives.Qualitative one-on-ones Follow up one-on-one phone interviews were conducted with nine established women entrepreneurs to help further understand some of the issues.including time spent in certain activities. ways of thinking (e. Phase II . ambitions. Phase I . SCU-CIE. Interview Content Online questionnaire The questionnaire addressed the hypotheses outlined above and included the following: • Attitudinal Profile . In addition. superiors. © 2000 Cheskin Research. interaction. flexibility vs. logic vs. • Behavioral Profile .g. intuition.
• Women don't network as effectively as men. and in so doing.Women Entrepreneurs Study January 2000 Detailed Findings Phase I -.especially in acquiring management experience. • The reason there are more men receiving venture capital funding is that there are simply more men seeking it. Thus. SCU-CIE.The View from the Venture Capital Community A variety of points of view were heard from experts in the venture capital community on gender differences as they relate to entrepreneurship including: • Venture Capitalists don't care whether you’re a woman or a man. • Women make choices to partially leave the business world to have and raise children. They care whether your business idea will make money. The pool of women seeking venture capital is smaller. CNF 5 . This tends to make women feel they have to do everything perfectly because they don't believe they'll get a second chance. men are less afraid to fail than are women because they know someone will be there to catch them if they fall. They haven't developed “old girl networks” that function as safety nets. © 2000 Cheskin Research. they limit their ability to compete with men in the business arena. • Women have to work harder than men to succeed as entrepreneurs -.
7. tend to describe themselves as “more creative than logical. SCU-CIE. Fewer women envision seeking venture capital in the next two years than do their male counterparts. motivations and experiences of successful men and women A total of 367 online surveys were completed. while women tend to take more personal risks than men. • Given a choice. such as: owning a business with more than 2 employees. Seventy-two percent were completed by women and over 78% of those taking the survey were classified as “entrepreneurs. intent to seek venture capital funding within the next two years. The attitudinal differences found included: • Men. more than women. CNF 6 . slightly more than men.Attitudes.” • Women are slightly more likely than men to seek the advice of experts when making business decisions. while for men-owned companies it is 22. • Women. women entrepreneurs own companies with fewer employees than men. © 2000 Cheskin Research.” The criteria for classification as an entrepreneur included a combination of things. women tend to feel that it’s more important to do things perfectly than to do them quickly. do things that make them happy regardless of what others think. • Men take substantially more financial risks than women. however. Men. only 18% of female entrepreneurs share this intention.Women Entrepreneurs Study January 2000 Phase II -. Attitude profiles A series of questions aimed at identifying differences based on attitudes were included in the survey. Typically.9. and the desire to grow a business. • Men tend to feel more strongly than women that compromise is warranted to achieve specific results in a start-up company. The average number of employees in women-owned businesses is 5. While 35% of male entrepreneurs intend to seek venture capital funds. tend to feel it’s more important to do things quickly.
The table below illustrates the differences as well the similarities. Independence Strength Receptivity Sense of humor Fearlessness Politeness Generosity Team player Aggressiveness *Managerial expertise Courage Qualities rated higher by women Qualities rated higher by men © 2000 Cheskin Research.Women Entrepreneurs Study January 2000 What Does it Take to Be an Entrepreneur? Respondents were asked to rate a series of personal qualities in terms of how important those qualities are to being a successful entrepreneur. please use the scale provided to rate each quality listed below (5 point scale. Q.To get a better idea about what personal qualities you feel characterize a successful entrepreneur. CNF 7 . “irrelevant” to “essential”) Qualities rated equally by both men and women Essential Persistence Vision Positive attitude Creativity Important Intuition Critical thinker Charisma Intelligence Attention to detail Less relevant Maturity Technical expertise Stubbornness Nurturing Sensitivity Easy going Physically attractive Mutable Cautious Frivolous * This quality was rated less relevant by women. SCU-CIE.
Women Entrepreneurs Study January 2000 Do I Have the Qualities Necessary to Be a Successful Entrepreneur? As a second measure. © 2000 Cheskin Research. (5 point scale. “not at all like me” to “very Qualities rated equally by both men and women High Persistence Sense of humor Creativity Critical thinker Medium Strength Courage Receptivity Qualities rated higher by women Intelligence Independence Qualities rated higher by men Positive attitude Team player Intuition Attention to detail Compassionate Generosity Nurturing Sensitivity* Politeness* Vision Managerial expertise** Maturity Low Technical Expertise Cautious Physically attractive Ambivalent Frivolous Stubbornness Easy going Fearlessness Charisma Aggressiveness Mutable * These qualities were rated low by men.To what extent do you feel that YOU possess these qualities? Please rate yourself on each of these characteristics using the scale provided. SCU-CIE. CNF 8 . The tables below illustrate the differences as well the similarities. some qualities were considered more important by each gender. ** This quality was rated low by women. respondents were asked to rate themselves on the same list of qualities. Q. While men and women agreed on many attributes.
SCU-CIE. some interesting gender differences were found in the relative importance men and women placed on qualities. Qualities considered important for entrepreneurs. While our research does not reveal the reasons behind these differences (in part. women rated all qualities higher than did men. men and women also rate themselves lower on a few qualities they consider relevant for entrepreneurs. Women rated the entrepreneurial attributes as 4% more important (i. the opposite trend: they have set their goals higher. For years.. it may be due to a difference in the way the men and women interpreted the survey instrument). but rated high in self evaluation Women Nurturing Compassionate Politeness Maturity Generosity Sensitivity Men Compassionate Maturity Response pattern differences In addition to findings about specific entrepreneurial traits. while women and men equally feel that they possess “the right stuff” to be successful entrepreneurs. but rated low in self evaluation Women Fearlessness Aggressiveness Charisma Managerial Experience Men Fearlessnes s Aggressiveness Qualities considered irrelevant for entrepreneurs.e. The women in this study appear to show. Women and men equally believe in their work and don’t mind giving up leisure time for work projects © 2000 Cheskin Research. more relevant and/or more necessary) than did men. the women evaluated themselves as 6% more effective on average on each attribute. The chart below illustrates these findings. CNF 9 . Additionally. more than men women report that they struggle to balance work and free time. they also feel they possess some qualities not deemed important for entrepreneurship. Balancing Work and Personal Life Women and men report equal levels of time spent with their families as well as having time for themselves. and interestingly. and they are achieving them better. Overall.Women Entrepreneurs Study January 2000 Thus. However. the results are important in one undeniable way. most female populations had a tendency to overestimate the importance of an ideal attribute and to underestimate their real abilities on that ideal attribute.
Least important to respondents in this study were building a career with a large company and making money.” © 2000 Cheskin Research. These factors included: • making a lot of money • having autonomy • building a career with a large company • having an impact on the world • mentoring and training others • cultivating and sustaining client relationships • taking on things you don't know how to do but feel you can learn There were no significant differences found between women and men on the above motivational factors. SCU-CIE. Career Values Percent Stating Total Cultivating and sustaining relationships with clients Taking on things I don’t know but can learn Mentoring and training others Company or product has impact on the world Having autonomy through own business Making a lot of money Building a career with a large organization 62% 61 46 36 32 11 2 Women 61% 63 47 37 30 10 2 Men 63% 56 41 35 38 13 1 Gender differences were found in analysis of the open-ended question: “Are there any other • Women tend to be motivated slightly more than men by “self-development.Women Entrepreneurs Study Motivational profiles January 2000 Respondents were asked a series of questions aimed at identifying motivational factors that drive ambition toward entrepreneurial pursuits. and then mentoring others. They most value cultivating relationships with clients.” and • Men are significantly more motivated than women by “intellectual challenge. CNF 10 . This last finding is notable in that it contradicts the common belief that financial gain is the primary motivator for entrepreneurs in today’s emerging markets. followed closely by taking on challenges in order to learn.
with the following results: • Women and men appeared to be equal in terms of having had role models in their family who inspired them to become entrepreneurs. the most striking differences emerged: • Men spend significantly more time than women making contact with new potential business prospects. and • Men were significantly more likely than women to have learned things by playing team sports that helped them in their business goals.” • Slightly fewer women’s mothers than men’s were homemakers. When networking activities were compared.Women Entrepreneurs Study Experience profiles January 2000 The types of prior experiences women and men bring to the entrepreneurial endeavor were compared. • Men spend significantly more time with subordinates developing relationships to further their business goals than do women. CNF 11 . • Men spend slightly more time with peers developing relationships to further their business goals than do women. The primary occupations of mothers and fathers were compared with the following results: • Women were more likely to have had mothers who were “specialists. • The types of primary occupations of fathers appeared to be much the same for both women and men. • Women and men appeared to be equal in terms of having had mentors who encouraged them to pursue entrepreneurial activities. SCU-CIE. and • Women and men spend about the same amount of time with superiors developing relationships to further their business goals. © 2000 Cheskin Research.
SCU-CIE. • Men are significantly more likely to have received extensive management training in their field of business.i. CNF 12 .* • Men are significantly more likely to have extensive management experience in their field of business. *Note: All men in the study were recruited through the Santa Clara University MBA list. • Men are significantly more likely to be well networked with key affiliate and professional groups in their field of business.. the extent to which they have strong network ties and bases of experience. This difference in sample source may account for the difference in management training between women and men in the study. © 2000 Cheskin Research. while women were recruited through both the MBA list and the Forum for Women Entrepreneurs. • Men are significantly more likely to have extensive experience in the operational aspects of their field of business. • Men are significantly more likely to be well networked with key people in their field of business.e.Women Entrepreneurs Study January 2000 There were also striking differences found between women and men's network and experiential assets .
This difference in sample source may account for the difference in management training between women and men in the study. while women were recruited through both the MBA list and the Forum for Women Entrepreneurs.Women Entrepreneurs Study Demographic profiles January 2000 When demographic characteristics of respondents were compared. and. Senior Executives or Partners than women. • Women were significantly more likely to have partially completed a college degree than men. © 2000 Cheskin Research. 55% respectively).* • Women were significantly more likely to have earned a masters degree in a field other than business. • Men were significantly more likely to be General Managers. *Note: All men in the study were recruited through the Santa Clara University MBA list. • Men tended slightly to have more children than women.2 vs. • Women tended slightly to work in large companies or alone compared with men who were slightly more likely to work in small companies. • Men were significantly more likely to have earned an MBA degree than women. • Men were significantly more likely to have completed college before 1980 than women. the following differences were found: • Men were significantly more likely to be married than women (78% vs. CNF 13 . • Men were significantly older than women (mean age 45. 40 years respectively). SCU-CIE.
culturally.Women Entrepreneurs Study Phase III -. and am still to some degree. Vaughan and Company Another view suggests that cultural context shapes business sensibilities. So advice-seeking tendencies may have less to do with gender and more to do with the business cultural context.What Do Women Entrepreneurs Say? January 2000 At the conclusion of the Phase II online survey. and thus. considered their input valuable. CNF 14 . President. I think the thing about women seeking advice from experts is really quite true. The researchers’ view is that these women are in a unique position to interpret the similarities and differences between women and men entrepreneurs. Jeanine Vaughan. so there really wasn’t any mentoring either at work or within the family. It is a huge benefit. we interviewed several women entrepreneurs were interviewed to gain insight into the findings. you will more likely learn to rely on your gut instincts because innovation is highly rewarded in the start-up culture. I can say that from my own experience that it has been to my detriment. I observe my husband doing it to a much greater degree very successfully. to try to seek experts in different subjects to compensate for the lack of mentors and to compensate for the feeling that I don’t know it all and that there is more to it. Genentech © 2000 Cheskin Research. It’s something I try to emulate but don’t have as much success with it as I would like. I represent at age 40 probably the first real generation of women that are in the workforce. if you find yourself in a start-up environment. SCU-CIE. Actually. Below are highlights from those interviews. This is partly because of my role at Genentech: we were a start up company eighteen years ago when I got into computing and there was opportunity to invent things. Polly Moore. in my own personal experience I probably didn’t seek as much expert advice as I could have or should have at various stages. I was susceptible very much in the beginning. I operated in many instances with kind of a gut instinct and intuition. to rely on their own instincts. A wide variety of points of view among the women were expressed. That’s just a personal quirk of mine. Why Women Tend to Seek the Advice of Experts Some women entrepreneurs express the point of view that women tend to seek the advice of experts more than men because they have not been conditioned. Executive Director of Bio Computing. For example.
Women Entrepreneurs Study January 2000 If I look at those that I have worked with. but that the collective thinking is a better way of moving through one’s career.not reality. In fact. Former President and CEO. firing people. Managing Director. Reaching out and finding out what others are doing or how they handle a situation that is the real strength of women leaders and we are not adverse to doing this. accountants. We don’t believe that it has to be just what we think. Eunice Azzani. building departments… the only way is with advice because you cannot be the world’s greatest expert on everything. a great deal of what we are doing falls into the category of things we have never done before. CNF 15 . Ethel G. I look at the women and men around me and I would say that we all tend to seek input fairly consistently. They [men] may not count that as outside advice. The minute you start hiring people. men and women. But you can’t run an enterprise by yourself unless it is a very small one-person operation. Maybe they don’t even call it advice. SCU-CIE. Korn/Ferry International © 2000 Cheskin Research. Romm. and those that I am working with now. Cheryl Vedoe President & CEO. NITON Corporation Women in the study did point to the advantages of being comfortable seeking expert advice. You can’t run a business without talking to your lawyers. it is just not perceived as such. men do seek the advice of experts as much as women. Post Communications Yet another point of view on this question revolves around the idea that it is merely a difference in perception -.
Most business negotiations involve both money (financial risk) and relationship (personal risk). they may tend to be more cautious about financial risks not because they are women. President. I would tell you just the opposite. SCU-CIE. Polly Moore Since women seem to focus more on maintaining balance between their personal and business lives. In my experience. Women may place a higher priority on the relationship side of the equation making it more about “personal” risk. Barbara Kamm. in fact. Silicon Valley Bank Another point of view holds that financial risk-taking in business has more to do with how experienced a person is -. Destra Consulting © 2000 Cheskin Research. It may be because they are newer in the business and we are an all female firm.that’s what makes it a successful deal. We brought three men into the firm and I would say that two of the three are far more cautious than the founders. once the basics are under control. The men in my firm are far more cautious around financial decisions than the women are. it is all-consuming. While Women Take Personal Risks The idea that women tend to take personal risks while men tend to take financial risks may be based in the priorities women place on relationships.Women Entrepreneurs Study January 2000 Why Men Take Financial Risks. a less experienced person will be more cautious. They are wearing many hats and when they step into an entrepreneurial role. Pam Dennis.i. But once the dollars are taken care of. Either creating or preserving or strengthening the relationship-. certainly. but because they are beginners. It is almost an irrelevant standard for many women that I know.e. Men seem to keep score by how much -.the dollars that are involved in the situation. personal risk can also be seen as the threat to upset this balance. I think perhaps what women are saying is that their risk is more inclusive of their whole lifestyle. which is not to say you are oblivious to money. while men may lean toward the financial side of the equation. Executive Vice president. whether it is the size of a deal or the size of the stock option or whatever might be the context of the situation.. CNF 16 . One could end up finding that her life is totally out of balance. what emerges as the most important thing out of the situation is the relationship context. If women generally are in an earlier stage of business maturity.
a professor at the University of Chicago business school. So it might look like perfection. or have been used to. Boys just want to beat the other guy. girls are picking their way through the path. or even close to the same. amount of compensation. the undertone is that you’re not seeing the forest for the trees. Jeanine Vaughan There is also a point of view that women may be more circumspect than are men. The New Yorker. I think that may be part of doing things perfectly. women are merely taking more things into consideration and this gets pegged as “perfectionism. SCU-CIE. This can be detrimental to women as they may be perceived as “not seeing the I hate to say this or sound sexist but I think that in the workforce women are used to. but I don’t think it is perfection. I think it’s just being thorough. Women and men tend to carry a lot of those same qualities as they get older. etc. Nancy Coleman. we have to outperform men to even get the same. as I often have been.1 The ability women have to process information comprehensively may explain this finding. Pam Dennis It’s probably because boys like to go fast regardless of what they bump into. Women feel that they have to perform better than men in order to achieve equal results and this sometimes leads them to emphasize perfection over expediency. July 28. I think we put more factors into the equation to be considered. That in fact. We take in people factors and analytical factors. and I think we take into consideration more factors. I think that choice of a word is really interesting because when you are accused of being a perfectionist. If it’s the wrong decision you just keep moving forward.” This phenomenon has also been noted and explained by Joan Meyers-Levy. I think women want to do it thoroughly. Her theory is that women integrate information while men eliminate information and look for a way to simplify the route to a conclusion. © 2000 Cheskin Research. President. go shoot something. Men are more into just go do something. Doing it Perfectly This finding did not surprise any of the women interviewed. 1997. CNF 17 . The Ideas Group 1 Listening to Khakis.Women Entrepreneurs Study January 2000 Doing it Quickly vs. When you watch kids. In my desire to become a better leader of my organization I try to move away from attempting to be perfect and make decisions. There were a variety of ideas about what lies beneath this approach. paying attention to things that they are seeing and doing. I think ‘perfectly’ is a loaded word with negative connotation.
Actually perfection is what holds us back. Eunice Azzani Well. be crappy. You get it out there and you polish it over time.” What he means by that is that in the world of the Internet. We are focused on making something so perfect that we forget that sometimes it is not the most important piece. Barbara Kamm © 2000 Cheskin Research. Women think that perfectionism will be rewarded and recognized and that they will be given opportunities as a result. like Guy Kawasaki says. they just do it and go on. All women interviewed agreed that being a perfectionist could be a barrier to progress. but if you wait to get it polished.Women Entrepreneurs Study January 2000 Women may have been taught to believe that they will be rewarded for doing things perfectly. especially in the fast-paced high-tech environment. Most respondents noted that men had a much greater ability to do things and move on. There is a lot of guilt around women feeling that they have to do the right thing all the time. And they don’t feel the guilt or the trauma. CNF 18 . it will pass you by. I do think that guys tend not to care whether they did it well or not. you’ve got to get something out there fast. “Don’t worry. SCU-CIE.
It’s like being the first black baseball player. the kind of focusing that it takes. whereas men tend to focus more on specific elements. Women balance all of the different elements that affect the outcome of a business situation. so compromise means that nobody gets exactly what they need. Pam Dennis The theory of women as information integrators and men as eliminators also comes up in this context as well. to give a lot of jobs to people. do just anything. But I think women are trying to reach more in a collaborative win/win. rather than a gender issue. although we often think all of us win a little. Then you realize your goal is something else: your goal is to have a business. I think it has to do with where you are in your life. CNF 19 . That kind of person is not going to sell out. whereas men tend to be much more dictatorial and one-way communicators. to be successful. My experience has been that we tend to want to look more for mutual interest. one’s stage of development as a negotiator may determine the way one relates to compromise. You’re a perfectionist. Eunice Azzani © 2000 Cheskin Research. to allow new thinking into the mold. What does that take? And then the word “compromise” is not a dirty word in that way. I don’t. In the constructs of conflict. Maybe men see that as compromise. I think women are less win/lose. I think that women tend to see a more holistic picture and have a larger view of business situations than men do. Rather than being less willing to compromise. as this finding may suggest. Ethel Romm Women may also be more comfortable with a model that promotes “collaboration” rather -win” solution and the latter necessitates that someone give something up. I believe that compromise might mean different things.Women Entrepreneurs Study January 2000 Why Men Tend to Compromise More Than Women As mentioned previously. Nancy Coleman This contradicts what I have seen. compromise is where each of us loses a little. When women go into business is a novel thing. You know the kind of drive that it takes. go up. I have seen women much more willing to listen to what people have to say. women may not feel compromise is necessary because they may have a greater ability to successfully incorporate more elements into a solution. SCU-CIE. you have very high standards and that is probably why you are successful.
While a guy can come home and spend time at home and with the children. women may feel a greater sense of guilt for not being able to achieve this balance. To me there is this myth of balancing your life. you’re not going anywhere. Being able to better integrate these things may be key to overcoming the struggle. There is a general rule that they still do much of the housework. Barbara Kamm I think that is true because we live in a culture that does not value children. It takes a lot more energy. You want some movement in life. a large part of the burden of child rearing still tends to fall on the woman’s shoulders. Don’t compartmentalize it. Ethel Romm Women may also find it more difficult to balance their lives because they have a greater tendency to try to separate their personal lives and their business lives. It is much more difficult as a woman to balance all of that. SCU-CIE. CNF 20 . it is usually the woman who is doing the planning. I think it’s about integration . Eunice Azzani © 2000 Cheskin Research. If you look at a seesaw. etc. if you are balanced. There is also a point of view that women handle more of the “emotional” matters of the heart that crop up in day to day life and that this may explain why they experience more struggle in finding balance between work and personal life.Women Entrepreneurs Study January 2000 Balancing Work and Personal Life There is little disagreement that the reason women struggle more than men to balance work and personal life is because women shoulder a greater burden of childcare and household obligations than men. women would not worry. who is really there when things are going wrong. what you care about. If we lived where there were wonderful daycare centers. and the people in your life with the work you do. Balance is not an achievable thing in the dynamic universe we work in. A large part of the burden of the household.integrating who you are. So the balance is a real one. wonderful kinds of nannies and things like that. no matter how egalitarian the guy is. In addition.
that growth has paralleled my business. that is.Women Entrepreneurs Study January 2000 Motivational Differences and Similarities For the most part. women and men may use different language to describe the same thing when it comes to the personal challenge that drives the pursuit of entrepreneurship. intellectually. But I think the language that men and women would use to describe it could very easily be different. Ethel Romm However.” For me personal growth does not exclude intellectual challenge. personal growth could include an intellectual challenge. That is the center of gravity within you. SCU-CIE.” There is strong agreement that both motivations are the same. emotionally. I think I always learn everyday and I know for a fact that if I would have stayed in the corporate world. They want to make their own mistakes. They want to be on their own. And if I didn’t make another cent. women and men share the same motivations for taking up entrepreneurial endeavors. I don’t think you can stop an entrepreneur from becoming an entrepreneur. Women say they seek “self-development. that would be worth it for me to have that incredible range. CNF 21 . Polly Moore © 2000 Cheskin Research. Whereas a woman would feel comfortable using the phrase “personal growth. An entrepreneur is an entrepreneur. I think that as I’ve grown personally.” while men say they seek “intellectual challenge. It’s like being an artist. that the range of what I do and what I know would just be a mere fraction of what I do and know now. Jeanine Vaughan I am wondering if part of it is semantic. and to continue to grow and to learn. it could be broader. You do that when everything is under your control. They don’t want to do things that are wrong.” most men probably would rather call it an “intellectual challenge. They want to do it. They want to do things that are better. You can’t stop someone from growing. They don’t want to make other people’s mistakes.
I am spending almost every weekend at my eight-year-old daughter’s soccer games and thinking. You don’t learn team work. I have asked many people about that. I hope. the impact of Title IX on women's success in the business world is direct and powerful. Eunice Azzani © 2000 Cheskin Research. I got to be the top dog. SCU-CIE. That one is almost easy. there is a whole generation of women who are going to have had the experience as children of doing team sports. sometimes it’s the group that wins. and of women who did not play team sports but nevertheless achieved business success-support this idea. that is a tremendous lesson. Polly Moore Team sports do not however necessarily equate with teamwork or being a team player. You don’t learn teamwork on those kinds of teams.Women Entrepreneurs Study January 2000 Team Sports as a Metaphor for Business The idea that men develop emotional and psychological skills playing team sports that help them in their business endeavors elicited several strong and varied reactions from women entrepreneurs. CNF 22 . If you ask men. That kind of thing does prepare you for the business world because that is what happens. my god. for her into other situations where she needs to call on her resources and know that she can do things. I want to be the quarterback. all of which make for a better entrepreneur. I want to be this. They learn all kinds of things. Team sports help players learn negotiation skills. That’s a lot of bologna. strategy and interdependence. and individualism. In one point of view. resiliency. You never want to lose sight of the individual contribution to the collective overall opportunity. I didn’t. Team sports may instead promote the entrepreneurial qualities of persistence. Ethel Romm Sometimes in team sports there is one person that rises above the others. She gets all kinds of parallels that are going to translate. vision. You can come from behind if you don’t give up. yes coaching is what you learned. What you learn is he got the credit. Examples--such as men who played team sports but who are not “team players” in business. this is fantastic.
One explanation may still be the separation that some women try to achieve between their business and personal lives. Polly Moore. I think there aren’t as many women out there to allow that really positive women-networking experience to happen in the same proportion. I think women are much stronger on the relationship side. women may only focus on the immediate benefits of networking. The reality of life is about negotiation and relationships. especially if you are a single women. you’re around a predominately male world all the time. it may be somewhat complicated for women because they have to be careful that their networking overtures are not misconstrued as personal overtures. It may be that networking is more natural among members of one’s own gender. I think there still is a difference in networking versus relationship-building. CNF 23 . So of course you are working with men and interacting with them and so on. You have to be careful about how you cultivate these outside relationships so that they do not turn personal because I think that there is real danger there. That kind of thing is probably the reason why women don’t network. many women interviewed noted that women had much stronger social skills and relationship-building skills than men. They just don’t necessarily use it as directly to build their business. While men may see a longer-term benefit to integrating business into their socializing outside of work. Now. Jeannine Vaughan. Eunice Azzani © 2000 Cheskin Research. We have those things and know how to do them. for all of us in the business world or anything in high tech. Additionally. SCU-CIE. It is hard for women to get across to men that they are out there for the networking and they are sick of making excuses why they don’t want to extend that into a more personal thing. But I notice a real difference when you put a group of high-powered women together and see how they network versus what happens in a mixed group. Some feel it is because women have less time.Women Entrepreneurs Study January 2000 Striking Differences in Networking Several points of view emerge concerning why men report significantly more time spent networking. and thus not integrate it into their lives outside of work. though they agreed that these skills were not always being directed toward business. I have noticed from my experience in networking that women do that much more naturally with other women then they do with men. Interestingly.
Cheryl Vedoe © 2000 Cheskin Research. Vice President. Phyllis Brock. CNF 24 . Networking is not exactly related to the goal at hand. Barbara Kamm Maybe it goes back to that original question where women look at networking as a personal investment. Nortel Men do a better job at networking for business purposes than do women. Men. so it is considered an investment of personal time and they won’t make that. My social life is really family and I try to keep that separate. I think. then they are not going to bother. it rarely spills over. as personal time that they are trying to figure out how to balance. SCU-CIE. I have heard women say that if some sort of networking event isn’t going to have an immediate impact on their business.Women Entrepreneurs Study January 2000 Men see networking more as a social context. When I am networking for business purposes. which I think is in some ways kind of odd because women tend to be more social. but I draw the line between my business life and my social life. look at the long-term perspective of what comes with those relationships.
productive and happy. Learn as much as you can and do it! You can’t do anything unless you do it. You’ll understand the customer. what do I find? It was never heard that girls can’t do this. It’s like being in a dot com company now you’re nineteen years old and running the place. such as sales. I think that most men would have just given up. So when I go out into the world.Women Entrepreneurs Study January 2000 What Did Successful Women Entrepreneurs Do Right? Persistence rated very high in the survey portion of the study and was echoed by virtually all women interviewed. but you get there one way or another. So I think it was just really courage and saying ‘no. books have been written about this theory of management. and you’ll understand the business. In other words. Other advice included starting out on a path. SCU-CIE. if you take care of them. girls can’t do that. virtually all women interviewed indicated that the ability to recognize and take advantage of opportunities and new challenges was key to their success. So there is always opportunity. Phyllis Brock Lastly. You can’t rent a car but you can run the place.just facing things that you didn’t know. it turns out. start in sales. Polly Moore Number one. I don’t want Jeannine Vaughan Other responses involved more experiential and tactical types of advice. that provides the most useful experience. there are always opportunities. Too bad I didn’t read them first. the project will happen. Instinctively early on I developed this operating model of management which said keep employees comfortable. “Steward leadership” is sort of the buzzword that gets used for this. It gives you a perspective you’ll always carry and a much better context to how things operate. I think I was just at the right place at the right time. you’ll understand the front end. I think the primary thing for beating the odds for me has just been sheer persistence and courage . Well. It was always ‘Honey. There’s nothing that replicates that experience. Their main message was to just do it and to not let fear dissuade you from your goal. I found it to be phenomenally effective. I was seventeen and my father had just died and left my mother penniless and it was the beginning of World War II. These included developing a model for management that allows one to provide “steward leadership”. Ethel Romm © 2000 Cheskin Research. am I glad ability. CNF 25 .
CNF 26 . are to be really open to possibilities. to learn new things and to apply your skills and your expertise in new ways. so to be really successful requires almost constantly reinventing yourself. Cheryl Vedoe © 2000 Cheskin Research. new excitement with everything. The businesses that exist today weren’t even envisioned three years ago.Women Entrepreneurs Study January 2000 Embrace every opportunity and take it as far as you can. and just enjoy that. especially in the professional environment today. SCU-CIE. Every opportunity has some gold in it. There’s always new learning. Phyllis Brock I really do think that the keys. No matter what the opportunity is. there’s something that’s great to be learned and experienced in it.
Women Entrepreneurs Study January 2000 Additional Charts © 2000 Cheskin Research. SCU-CIE. CNF 27 .
SCU-CIE. CNF 28 .Women Entrepreneurs Study January 2000 © 2000 Cheskin Research.
SCU-CIE. CNF 29 .Women Entrepreneurs Study What does it take to be an Entrepreneur? January 2000 Persistence Vision Positive Attitude Courage Men Creativity more relevant > < less relevant Independence Intuition Critical Thinker Aggressiveness Strength Intelligence Sense of Humor Charisma Receptivity Attention to Detail Fearlessness Managerial Expertise Maturity Team Player Generosity Technical Expertise Stubbornness Nurturing Compassionate Sensitivity Politeness Physically Attractive Easy Going Mutable Ambivalent Frivolous Cautious < less relevant more relevant > Women © 2000 Cheskin Research.
CNF 30 . SCU-CIE.Women Entrepreneurs Study Do I Have the Qualities Necessary to Be a Successful Entrepreneur? January 2000 Persistence Men Team Player more relevant > Managerial Expertise Vision Creativity Maturity Strength Courage Positive Attitude Intelligence Sense of Humor Independence Critical Thinker Intuition < less relevant Receptivity Attention to Detail Compassionate Generosity Nurturing Easy Going Sensitivity Fearlessness Charisma Politeness Technical Expertise Aggressiveness Stubbornness Mutable Ambivalent Frivolous Cautious Physically Attractive < less relevant more relevant > Women © 2000 Cheskin Research.
SCU-CIE.com Santa Clara University Center for Innovation & Entrepreneurship Responding in late fall 1998 to student and business interests. CNF 31 .cheskin.com © 2000 Cheskin Research.596. Contact Denise Klarquist. assist small companies to manage fast growth.scu. Partner lalepin@Interjacent. corporate venturing) and without companies (i. packaging and media. Contact Pat Hill Hubbard. Specializing in the consumer technology and packaged goods industries.com. branding.5755 www.edu. CNF clients use their own power to accelerate their progress into the new millenium.554.. foster innovation within (i. 650. Its primary purposes are to teach the basics of entrepreneurship and its management.6228 www.e. To compete in the rapidly evolving. Cheskin focuses on helping clients gain an intuitive understanding of their customers and using that understanding to develop relationships based on trust.4122 www. positioning. provide services that accelerate the entrepreneurial process for startup companies. entrepreneurship). uniqueness and mutual benefit. Contact Linda Alepin. 650. Director of Marketing and Design dklarquist@cheskin. SCU-CIE’s primary mission is to foster innovation and accelerate the entrepreneurial process. and thereby help sustain the economic vitality of Silicon Valley. highly competitive business landscape..Women Entrepreneurs Study Cheskin Research January 2000 Cheskin has been improving and deepening the relationships between companies and their customers for over 50 years.948.com.centerfornewfutures.edu/entrepreneur Center for New Futures The Center for New Futures is a leadership consulting firm specializing in helping organizations create breakthrough results. Santa Clara University’s Leavey School of Business launched the “Center for Innovation & Entre CIE).e. They are a leading market research and consulting firm. 408. recognized for contributing to competitive breakthroughs in new product development. companies and individuals need “out-of-the-box” thinking and action plans. Managing Director phubbard@scu. By participating in leadership programs and custom-tailored engagements.
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