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Gender Bender: The Real Deal on Female Entrepreneurs
April 10, 2008
"Are You Smarter than a 5th Grader?"
By Kelly McCormick
That T.V. show's title had been in my head for days, ever since I surveyed a group of female entrepreneurs. Women between the ages of 29 and 79 were asked, "What should vendors know when selling to you?" Brace yourself for their candid and eye-opening comments. These "solo-preneurs" held nothing back.
You'll find out exactly what you need to do—and what you must quit doing—in order to earn her business. You'll also discover that her buying knowledge rivals anything those Einstein-like 5th graders dish out to unsuspecting game-show contestants. Don't be surprised if "…Smarter than a 5th gGrader" starts to play in your own head.
• She uses her brainpower. Women put their brainpower to work. Unfortunately, there are sellers out there who will still talk down to a woman buyer. They don't relate to her as a highly skilled businessperson. Instead, she's seen as the "girl next door." This is crazy. Business isn't new to women. Females have been outpacing men in business start-ups for years. It's now commonplace for a woman to purchase products and services that will support her operations.
The women I surveyed made their points in different ways, but they all agreed: Sellers need to know that "Women business owners tend to be educated consumers"; "Female business owners are smart"; "We know what we want. We also know what we really don't want. We expect to be treated as intelligent and thoughtful buyers." There are many examples of how to achieve this, and the women were eager to point them out.
• She expects you to know her industry. Female entrepreneurs notice the seller who has knowledge of her industry. There are big differences between the needs of a graphic designer and that of an accountant or a realtor. Each requires specific product and service solutions. The vendor who niche-markets and/or learns about a woman's business is often rewarded with endless referrals.
However, one woman stressed, "Don't pretend that you know me like the back of your hand, then presume to tell me what you think I need. Instead, listen to what I want." Many women take this same position.
• She wants you to ask questions. If you don't know about a woman's industry, she welcomes you to "ask relevant questions to find out where [she's] coming from." (The word "relevant" was mentioned repeatedly.)
Women don't have time to waste. A solo-preneur's day can quickly become one endless to-do list. She needs your questions to be purposeful. If you're selling her a new computer, don't ask about her garden—unless you're standing in it! Focus on finding out how she runs her business. Then you'll both know exactly which features she'll need.
• She wishes that you'd LISTEN. The word "listen" came up in every survey response. Women voiced everything from "listen to me and quit talking so much" to "the worst thing that a seller can do is not listen to me." They also asked sellers to "listen to what you're asking me." In addition, the women urged sellers to "not take other calls when you are in a deal or discussion with us." You've been warned. Turn your cell phone off.
When you do tune in, she wants to be "listened to with respect and not have you lay any assumptions upon us."
By far, the most telling comment was, "Listen and wait until we are finished before answering. Don't just listen to the first part, concoct an answer and then wait patiently until we are finished to give your answer. You will probably miss the really important detail—the one we slipped in about two thirds of the way through."
• She must trust you. Women opened up about how important trust is for a sale. Get ready for a couple of big "A-ha!" moments: "The deal for a woman is personal"; "Women won't buy or deal with people they don't like or trust."
When you're building that buying trust, she insists, "Don't act like our new best friend." "Don't send us gifts to make a deal. That's overkill." That's also what happened to one entrepreneur when she was in the hospital, having a baby!
Sellers must balance "being professional with being personal and themselves." A simple, yet overlooked, technique to strike that balance is to "look us in the eye" during the sales conversation. Keep in mind that there are exceptions to this request. It's important to research the protocol of your market. In some cultures and religions, making direct eye contact can be taboo.
Last, but not least, the businesswomen asks that you smile: "The process needs to be a pleasant experience."
Final Thoughts
Smarter than a 5th grader? Yes, a woman puts her brainpower to work. It's how she runs all aspects of her business, including making purchases.
When she's ready to buy, a woman will seek out the seller who respects her as an intelligent and well-informed buyer. If you learn about her industry, ask relevant questions and listen well, she'll work with you to make the sale.
Stay tuned … "Part 2: Female Entrepreneurs Keep Speaking Out" will be published in my "Gender Bender" column in June.
©2008 Kelly McCormick. All rights reserved.
Kelly McCormick, from OutSell Yourself, is a sales expert. She writes an online monthly column on women and sales for Sales & Marketing Management. Get Kelly's Communication E-tips, information on her "Sell to Women" and "Sell to All Buyers" sessions and keynote talks at www.OutSellYourself.com. Her book, OutSell Yourself: How to Sell Without Selling, is soon to be released. Kelly can be contacted by calling 800-889-9637 (PST).
Sales & Marketing Management Magazine
This article is brought to you by Sales & Marketing Management, the leading authority for executives in the sales and marketing field.
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