The One Women's Business Group That Actually Gets Down to Business

Though it will gall old-line feminists to hear this, the truth is that you cannot build a million-dollar-plus business selling just to other women. Women are half the workforce, but have not accumulated clout accordingly. You're not going to get ahead if your mentors are barely more successful than you are. You must connect, deeply and consistently, with the world of male finance, advisors and operational partner.

Here's the one exception: the few women who have hoisted their companies to $2 million or more in annual revenues. There aren't many of them - that's the threshold to join the Women President's Organization,
which has 1,400 members. By way of contrast, the Center for Women's Business Research reports that
of the 10 million woman-owned businesses in the country, only one in eight has any any employees beyond the owner.

Every organization exists to advance the common interest of its members, but I was struck by the amount of success that WPO members attribute to each other. In its latest survey of members, the WPO reported that 68% of its members do business with each other. WPO member firms have average annual revenue of $13 million, and those 32% of those women presidents pay themselves more than $300,000 a year, so this strategy clearly works. Nearly two-thirds of the members report that their companies have grown since they joined WPO; clearly, these are not lifestyle businesses.

What does the WPO do that other women's groups can't seem to achieve? I've been tracking the group's evolution for several years and here's what I observe:

• Women find true peers. Once you're over the threshold, you can join smaller groups comprised of women who lead organizations of the same size. You can learn from others who face very similar challenges. In most women's business groups, brand-new home-party direct-sales reps are rubbing shoulders with real estate agents and boutique owners. I'm sure that makes for great socializing, but it undermines the chances that they'll actually have meaningful input into eachother's business issues. The WPO's "peer mentoring" model is one that more women's business groups should emulate.
• Meetings focus on operational priorities like finances, growth challenges, and strategic hiring. These are the moving dynamics that CEO's must stay ahead of. Have you noticed that the agendas of many women's business groups are studded with inspirational speakers, self-appointed coaches, image consultants and the occasional politician? Leaders of these groups have mistaken entertainment for business content. If this sounds like the agenda of a group you help lead, your group has lost its focus.
• Professional facilitators lead WPO meetings. This keeps them on focus, on point, and keeps egos in check. Everybody gets heard and you get more accomplished in less time.

No? Then why are you wasting your time?

Image courtesy of Morguefile contributor carool.