Thursday, October 4, 2007

On women starting business and what it takes to grow it...

It's revealing and insightful, reading the New York Times article on women's starting business, and what it takes to grow it pass the $1 million revenue hurdle.

I know, because my husband and I are starting one now. And I know, because it exactly accounts for the difference in mentality between how I see it, and how he deals with it.

The original business idea came from me. I see it as a candy-jar type of thing, whereby it allows me to make some money on-the-side. What he sees it as an opportunity that we can make it big. It takes a more work, and a whole new set of attitude and mentality to approach it. I have since bought into his idea. Point is, I would not have considered expounding and expanding ideas like that.

That accounts for one of the points raised in the article, that while women have twice the rate in starting their own business, they have half of the success rate in making it big when compared to men. And, it's not necessarily that the women are in lack of capital. Surely there are those who are unable to expand due to insufficient funding. But there are more of those who simply don't see it or don't want to make it big. They just want to "maintain the business", rather than "growing the business" as the men want it. I'm a basket case of this mentality.

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