Tips for Selling to Women Business Owners

Gerry Myers, President of the Myers Group, a consulting firm specializing in women owned businesses, led a discussion in this week's AccountingWEB Workshop on tips for selling to women owned businesses.

Some interesting ideas and trends that she provided about selling to women should be reviewed carefully:

  • 90% of all women will be responsible for managing their own finances at some point in their lives.
  • Given their traditional investing and savings patterns, women retiring in the next 20 years will have less than one-third the income they need to live comfortably.
  • Only 6% of women are confident they will live their golden years in comfort.
  • Women do more research on financial matters than men and generally handle the day-to-day household finances, while men buy investments more impulsively and generally do the family taxes.
  • Men view money as status, a game, and a way to keep score. Women see money as security for their future
  • As investors, men assume they know more than they do; women assume they know less. When successful in their financial endeavors, men credit their own cleverness; women attribute it to smart advisor or luck.
  • When they lose money, men blame the incompetence of their advisors, women blame themselves.
  • Women share much more information with many more people than men do.
  • Women value extraordinary treatment and professional service. They want a relationship with the people they do business with. They want someone with integrity and product knowledge that they can trust.
  • It is important to realize that little things matter to women. How they are treated, if you take them seriously, if you value them as a client and let them know, etc.
  • Women are interested in learning more and working with knowledgeable professionals, and in general are more loyal and provide more referrals than men.

Gerry offered a number of ways to market to female owned businesses, and what is important when soliciting their business. For more information and details on selling to women-owned businesses, go to the transcripts now.

You may like these other stories...

Individuals interested in reviewing the proposed 2015 US Generally Accepted Accounting Principles (GAAP) taxonomy from the Financial Accounting Standards Board (FASB) have until October 31 to submit their written comments....
Ernst & Young 2013 audit deficiency rate 49%, regulators sayMichael Rapoport of the Wall Street Journal reported on Thursday that the Public Company Accounting Oversight Board (PCAOB) found deficiencies in 28 of the...
PwC must face $1 billion lawsuit over MF Global adviceA federal judge on Wednesday ordered PricewaterhouseCoopers (PwC) to face a $1 billion lawsuit claiming that its bad accounting advice was a substantial cause of the...

Already a member? log in here.

Upcoming CPE Webinars

Sep 9
In this session we'll discuss the types of technologies and their uses in a small accounting firm office.
Sep 10
Transfer your knowledge and experience to prepare your team for the challenges and opportunities of an accounting career.
Sep 11
This webcast will include discussions of commonly-applicable Clarified Auditing Standards for audits of non-public, non-governmental entities.
Sep 24
In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards. A dashboard condenses large amounts of data into a compact space, yet enables the end user to easily drill down into details when warranted.