I recently attended a presentation by a private equity manager, who talked about how men and women CEOs are motivated differently.
Based on her work with hundreds of CEOs, she hypothesized that when a man decides to start a business, he wants to work for himeself and create something big, huge, mega successful.
When a woman starts a business, she often wants to work for herself, integrate work and family, have a flexible lifestyle, have alignment of values between work and play.
So, for those of you who are contemplating starting a business, what kind of business do you want to create and what goals are you trying to achieve?
If you’re looking for independence, a flexible schedule, and work-life balance, I say think twice before taking on employees, or office and equipment leases.
If you’re looking to make a lot of money, there are many ways to get there, including:
- creating a small organization that has high margins,
- running a large company with small margins, or
- becoming a highly sought after freelancer with specialized skills.
If you’ve got an idea for a product, you can either form a company and staff it, or you can outsource the production.
If you want to run an empire because you want to tackle specific projects, love managing people and customers, and dream of being hugely successful and well known, then you’ll need the big corporate office and staff.
Take my company, Matrix Group International, for example. At various times, we decided we wanted to be large, take on huge projects and clients, do giant projects for the federal government even. But then I read Small Giants by Bo Burlingham, where he profiles companies that have intentionally decided to stay small but be great at whatever their niche is.
This book made a huge impact on my thinking. Today, we’ve decided to grow organically, we are picky about who we take on as clients, and success to us means clients who come back to us year after year to help them be successful.
My point here is that being in business can take on lots of shapes and sizes. Whether it’s just you or you have the big corner office, success is what you decide it is.
So ask yourself, “what kind of organization do you want to create and what do you want to achieve for yourself and for your company?”
[Ed: Joanna’s post elaborates on the tips she shared during the July 11 #wgbiz Twitter chat on growing your business. Join us for our next Twitter chat for women entrepreneurs and those who’d like to join their ranks on Tuesday, August 8, from 12-1 pm ET.]
Image: stevendepolo via Flickr, Creative Commons
Founder/CEO and self-proclaimed Chief Troublemaker of Matrix Group International, Joanna Pineda is known for her visionary big-picture thinking and drive for excellence. Combining her broad liberal arts background and passion for technology, she started Matrix Group in 1999, today a leading interactive agency. As a trusted advisor, Joanna inspires and motivates her clients and employees alike to simply, “be better” with her mantra being: Do or Do Not. There is no try!