I recently hosted a panel at the Small Business Banking conference in Miami focusing on women business owners. Judging from the crowd and the feedback, there is A LOT of interest in working with women business owners. And rightly so.
During the past 17 years, women-owned businesses have steadily increased their influence on the U.S. economy. Since 1997 women-owned firms have:
increased in number by 68%
grown revenues by 72%, and
added 11% more jobs.
Banks, credit unions and other alternative lenders are looking for strategies to attract and connect with women business owners. The question is, how?
The two top questions attendees wanted answered were:
What’s the difference between men and women business owners?
What do women business owners want? What matters to them when choosing a bank or banker?
Here are our favorite marketing to women ads for 2014. Some are obviously targeting women, some are doing it in a more subtle way. But all do a terrific job of connecting with women. Drum roll please…….
Subaru – Flat Tire
You will notice a theme here that I’ve been promoting for a long time – if you want to connect with women, show great dads. I think dads and daughters are an especially powerful combination. Continue reading →
When I speak to women’s groups, the concept of “Work Life Balance” is a popular discussion point. Every time I have been asked to give a presentation on that subject, my answer is, “no.” I have nothing to say since I do not believe there is such a thing as “Work Life Balance.”
But then I found this video. It hilariously addresses this question. The answer will, sadly, resonate with almost everyone.
Some call it Socially Responsible Investing. Some call it Sustainable Investing. Some call it Responsible or Green Investing. Some call it Impact Investing. No matter what you call it, this type of investing focuses on companies who have a positive impact on society or the planet.
Many in the financial industry have shied away from this type of investing. Why? Because their focus has been on making money. And there is a popular belief that you cannot be socially responsible AND focus on making as much money as possible.
One financial advisor I read about went so far as to say he would fire any client that came to him wanting to do “socially responsible” investing.
But is that belief true? Venture capital firm, DBL Investors, in San Francisco would disagree. DBL stands for “double bottom line,” which refers to focusing on the bottom line of making money and the bottom line of making a difference. The fund’s managing director is Nancy Pfund. Continue reading →
“Although women are not as likely as men to try new technology first, they hold the key to mass adoption,” said Mark Schwanhausser, Director of Omnichannel Financial Services for Javelin Strategy & Research. “Banks need to incorporate online and mobile features that bolster women’s desire for simplicity and to avoid slipping into debt.”
Notice that very important point – women are the key to mass adoption. If you create tech women love and use, everyone else is likely to follow. Continue reading →
As financial advisors and financial planners look to the future, they are asking some key questions:
What are women looking for? Is there a difference in how I work with male and female clients? What needs to change in my practice, my meetings, my prospecting and marketing in order to attract and retain more female clients? (Whether they are single or part of a couple.)
If the majority of my clients are older, what happens to their money when they die? Will it stay with me or will their heirs take it somewhere else? What can I do to connect with those heirs now?
What about Gen X and Gen Y? People in their 30’s and 40’s. What are they looking for? What kind of financial planning and advice do they want and who do they want to work with?
And how do I attract younger talent to my firm? How can I develop the next generation of great financial advisors? I need to start thinking about a succession plan.
You will find answers to all of these questions in Investment New’s article about the Top 40 Under 40.
Meet the future of the financial advice industry. The Investment News editorial staff presents a list of 40 outstanding young people taking the financial advice industry into the next era. Meet the future of advice, and get ready to be inspired by their unique stories.
Why do we need to see women in leadership roles? Why should it matter if a leader is male or female? Shouldn’t we simply be inspired by the person and their accomplishments? So what if that person is a man or a woman.
It does matter. Here’s why.
It is very difficult to be something you don’t see.
We can all be inspired by great leaders. But there is a difference between being inspired by a leader and wanting to “be” a leader.
There is a phenomenon I speak of often. I call it The “I want to be her” Effect. And this is where Barbara Walters comes in. She was a pioneer, creating so many “firsts” for women in the news business. For the first time women who wanted to be involved in network news had someone about whom they could say, “I want to be her.”
What affect did that have? What is Barbara Walters’ legacy? This video tells the powerful story of the affect of, “I want to be her.”
(apologies for the annoying commercial at the beginning -wait it out, it’s worth it)
As Barbara Walters said, “This is my legacy.” Congratulations to Barbara on a historic career. Thank you for not just reporting on the world, but changing it.