Common Links in the Backgrounds of Successful Entrepreneurs

A new study done by the Kauffman Foundation looked at the backgrounds of 549 successful entrepreneurs to find what common links they share. Entrepreneurs fuel our economy, especially during tough times, and the following are some interesting findings from this study:

>most of the company founders are experienced, well-educated and married with children, from middle-to upper-lower class backgrounds.

>The average and median age of the respondents when they started their business is 40.

>The average birth order of respondents in their family was 2.2.

>60.3% of respondents said that working for others did not appeal to them.

To read the complete study from the Kauffman Foundation, click here.

Happy Canada Day!

Today is Canada's 142nd birthday! To celebrate, the WPO would like to share some fun facts about our Canadian chapters:

The WPO has several chapters across Canada, with two in Vancouver, two in Toronto, one in Montreal, and one coming in September of this year in Calgary.

There are currently 91 Canadian WPO members.

The average number of employees in our Canadian members' businesses is 116, with an aggregate of 9,552!

The average revenues of our Canadian members' businesses is $11 million, with an aggregate of $903 million!

Click here to take a quiz about Canada in celebration of Canada Day!

Advice for Business Owners to Sleep Through the Night During Tough Times

When the economy is struggling, business owners may find it harder to get a good night's rest. Thoughts and ideas with how to deal with tough times can keep you stirring. WPO Facilitator Laurel Delaney recently interviewed 20 presidents of small businesses to find out what allows them to sleep through the night. The following are some tips that they shared:

>Put in a good day's work. Being productive at work will make you feel like you have accomplished what you set out for each morning. Stay focused and committed to growing the business, so others are confident in you as a leader.

>Connect with upbeat, enthusiastic, high-energy people. Surround yourself with people who have similar business views and can offer solutions to problems. It can help your mood and productivity to be around happy, smiling people.

>Communicate with the executive team and employees as often as possible. Let them know what is going on, and steps you are taking to keep the company strong. Seek input from all employees, you never know who may come up with a new idea.

Click here to read more of Laurel's article from OPEN Forum by American Express OPEN.

Three WPO Members Listed on Inner City 100 Ranking

The Initiative for a Competitive Inner City (ICIC) has released the 11th Annual Inner City 100 Rankings. The Inner City 100 is a ranking of the fastest-growing inner city companies in the country, and the ICIC works to promote economic growth in these inner cities. To qualify for this year's list, a company must be located in an inner city, must have had at least $200,000 in revenues in 2003, must have at least $1 million in revenues in 2007, and must employ at least 10 people full-time. This year, three WPO members have made the list! Congratulations to:

Madeline Slay, President, Madeline Anz Slay Architecture, PLLC, WPO Central Texas Chapter
Kathleen McCarron, CEO/Founder, Academic Network, LLC, WPO Portland II Chapter
Kim Cooper, President, Desert Fleet-Serv, Inc., WPO Phoenix Chapter

To see the complete list of the Inner City 100, click here, and to read more about the ICIC's Inner City 100 on BusinessWeek, click here.

Boost Business with a Blog

Blogging is a great way to market your business for free. With sites such as blogger.com, you can create your own business blog in just a few minutes. Once you have established your blog, you need to be sure to use it correctly to promote business. Update the blog at least once a week, let people know about your new blog and what it offers, and share interesting and useful information. Here are a few helpful tips from Entrepreneur magazine on how to use a blog to boost business:

>Create friend-sumers: Make your blog a place where visitors give feedback and comments. It is a way to interact and gain insight straight from the consumers.

>Gain more exposure: Post on other blogs as well, and form relationships with other bloggers, this will help get your name and your company's name more exposure.

Click here to read more on how blogging can boost your business from Entrepreneur magazine.

WPO Members on the Cover of Minnesota Business Magazine

The June edition of Minnesota Business Magazine has just hit stands and WPO members from the Minneapolis I chapter are featured in the cover story! Jennifer Smith, Rose McKinney, Marie Bak, Deborah Callahan, Nancy Rosenberg, Terri Krivosha, and Ruth Murman are featured in the article, "Peer Power," answering questions about starting their business, the changes they have seen, advantages to being a woman entrepreneur, advice for other women, and how their involvement with the WPO has impacted their business.

Click here to read more.

Tips for Getting Your E-mail Inbox Under Control

Is your inbox overflowing with e-mails? Do you have 15 folders to file e-mails in, and when the time comes to find an e-mail, you are left searching in all 15 folders? When things pile up in your inbox, it can become stressful and unorganized. Here are some tips for organizing and controlling your inbox from BusinessWeek:

1. Read, take action, and delete or save. When receiving an e-mail, decide what to do with it as soon as it is read. As time goes by, and the day gets busier, there is more of a chance of the e-mail being pushed to the bottom and forgotten.

2. One email per topic. Keep only the newest e-mail if there is a chain e-mail on a topic. It will contain all of the previous e-mails, and create more room in your inbox.

3. Have very few file folders. Too many folders causes confusion, and wastes time when you need to find something. Keep folders simple and easy to understand.

To read more tips for controlling your inbox from Harvard Business Blogger David Silverman on BusinessWeek, click here.

Women Presidents' Organization Holds Miami Reception for Multimillion Dollar Business Owners

The Miami Chapter of The Women Presidents’ Organization (WPO) will hold kickoff reception for new members on Thursday, May 14.

“The extraordinary success of the WPO is a reflection of the growth and success of women led businesses across the country,” said Marsha Firestone, President and Founder of the WPO. “Women led companies own 41% of all privately held businesses in the United States, 3% of those generate more than a million dollars in revenue. WPO members generate an aggregate of $14.5 billion in revenues and employ 106,000 people.”*

Through the WPO, a diverse group of women presidents are able to tap into the collective wisdom of their peers and advance their business and personal success. Local WPO chapters are coordinated by a professional facilitator and meet monthly to share business expertise and experience in a confidential and collaborative setting.

“Since the Miami chapter officially began in January 2005, we have maintained a core group of members who are dedicated to keeping the Greater Miami Chapter successful. Our businesses thrive in the only major urban area in the United States that is truly bilingual and, of course, multicultural with a huge Caribbean influence. Our membership reflects the diversity within our location and the passion of our relatively young metropolis,” said WPO Miami Chapter Chair, Rita Poyo.

The event will be sponsored by Coconut Grove Gallery & Interiors and held at 2884 Bird Avenue, Coconut Grove, FL, from 6-8 pm. For more information, contact the Miami Chapter Chair, Rita Poyo at 786.553.0888 or poyomia@gmail.com.

* Statistics from the Center for Women’s Business Research www.cfwbr.org