Survival Tips for Women Business Owners
April 9, 2013
Paula Tompkins, ChannelNet founder. (Photo: Paula Tompkins/ChannelNet)
Nearly three decades after founding
ChannelNet, tech entrepreneur Paula Tompkins still finds that she is frequently
the only woman in the room. The room is friendlier now than it first was when
she was the only woman working in General Electric's marketing and sales
Yet the tech executive still typically finds herself in the
minority. Studies show that while 50 percent of small businesses are female
owned, the percent of female-founded technology companies remains in the single
Privately held ChannelNet, based in Dearborn, Mich., provides Web-based multichannel
marketing solutions for the home improvement, automotive, retail and financial
--- Related: 2013 Woman of the Year:
Tompkins holds two technology patents and is celebrating 28 years of tech
entrepreneurship and her eighth recertification by the Women's Business
Enterprise National Council (WBENC). Her advice to women today is first and foremost: Be yourself.
"Panty hose and
pants go on the same way," she said in a release. "Business is
uncomfortable and women shouldn't let themselves be intimidated. But they do
need to carefully speak their mind. Whether you are a man or woman, customers
typically don't respond well if you are too direct."
Her second recommendation is to create an advisory board. "It's important to
surround yourself with executive-level talent that you can trust. They should
have real-world experience in a number of key areas such as finance, operations,
and small business."
Tompkins is taking her advice to the bank. She has survived several harsh
economic downturns, and in 2013 ChannelNet is experiencing a 25 percent growth rate.
--- Related: In the Elite Company of
2013 WOY Finalists
"Owning a small business is a different
ballgame than working in a big corporation," she said. "You have to make sacrifices and you
can't have it all. You need to make decisions quickly and understand you won't
necessarily be popular."
While some decisions may not be popular, small-business owners typically are
happier. According to a TD Bank Small Business survey, 69 percent of small-business owners describe themselves as very happy. After 28 years of business,
Tompkins whole-heartedly agrees.
In addition to its Dearborn headquarters, ChannelNet has a location in Sausalito, Calif.
Founded in 1997, WBENC, a national 501(c)(3) nonprofit, is the largest third-party
certifier of businesses owned, controlled and operated by women in the U.S.
Business Wire contributed to this report.
It's not too late to submit your company for the 2013 HispanicBusiness 500! Just visit https://www.surveymonkey.com/s/NSYJKM7.
Source: HispanicBusiness.com (c) 2013. All rights reserved.