October is National Women’s Small Business Month – and a great time to focus on the success of female entrepreneurs. Did you know? Woman-owned businesses comprise nearly 39 percent of small businesses in the U.S., support nearly 9 million jobs and generate $1.6 trillion in annual revenues, according to SCORE.
Further, 41.8 percent of retail businesses are women-owned, which hits close to home here at Levin Management. Every day we see our growing roster of female shopping center tenants infusing creativity and a “women’s touch” to create quality, inviting experiences for their customers, while making notable economic contributions in their communities.
That’s not to say that male entrepreneurs aren’t doing things right as well, but since October carries a decidedly female designation, let’s look at just a few of the qualities that – scientifically speaking – make women entrepreneurs so great.
• Women are better at multi-tasking, making them well-suited for juggling the many aspects of running a successful business.
• Women rate higher than men in many leadership qualities, including taking initiative and driving for results.
• Women’s intuition is a real thing, enabling them to pick up on subtle cues that help them make the best decisions.
The list goes on, but the proof is in the day-to-day achievements of women who start and grow their own ventures. In fact, three of the newest tenants at Bradford Plaza in West Chester – where LMC serves as leasing and managing agent – are female business owners.
We caught up with them recently to talk about their experiences and perspectives. Here’s what they had to say about finding success.
“I try really hard to provide a great environment for my employees and customers. Maybe it’s not so much a woman’s touch but being maternal. We have mostly younger people working in the shop, and I want them to be happy – just as I do my kids at home. They are encouraged to work hard, have a positive attitude and feel good about being here. That reflects directly on the customer experience.” – Brandy Bell-Truskey, Fractured Prune Doughnuts
“In our society, women tend to make their household healthcare decisions, and I do believe we have different perspectives and motivations than men when it comes to shopping for eye care and products, and higher expectations for customer service. As a woman, I understand this and have been able to shape my business accordingly. In that sense, being female is an advantage in earning satisfied customers – both male and female.” – Olayemi Swindell, New Vision Family Eye Care
“Becoming a full-time studio owner (after being a part-time yoga teacher) is a complete life change. But right from the time I started teaching I knew I wanted to do this – and if not now, when? It is such a luxury to be here and, especially, to be able to give back. From hosting donation classes that benefit charities to workshops that introduce people to new things – this is all deeply gratifying.” – Jaki Reynolds, Inspire of West Chester yoga studio
Need we say more?