Are women really more focused on relationships?
“Absolutely, but not in the touchy-feely way that question implies,” says Terrie Jeney Bergdorf, president of The Bergdorf Co., an Akron visual communication presentation firm. “Women take their businesses very seriously, and those they work with must be part of the overall goal of accomplishment.”
Before making a let’s-do-business decision, women entrepreneurs take time to know the person approaching them. They also consider the plausibility of a long-term relationship with that supplier.
Norma Rist, president of Norma J. Rist CEO Consulting Inc. in Akron, recalls that when she was controller and vice president/general manager of Pepsi Cola Bottlers of Akron Inc., vendors who just wanted to make a quick sale turned her off.
“Making a purchase is not just a transfer of money and goods. Usually, resources, information, service and arrangements accompany the goods. It was important that I knew the business integrity of the person who represented the firm, to have a satisfactory exchange on an ongoing basis,” Rist says.
Bruce Rosenthal, communications manager at National Foundation for Women Business Owners (NFWBO) in Silver Spring, Md., says women entrepreneurs are more likely than their male counterparts to place value on both relationships and information.
“It is important to emphasize the how and not the what of your product or service, while presenting facts, answering questions and providing details,” Rosenthal notes, adding that women will shop around for the best value, seek the opinions of others and reflect before making an important decision.
And just because women place great emphasis on relationships, that doesn’t mean they’re less sensitive to price.
“They will trust you on the price if the relationship is established, but they will not pay more than the going rate,” Bergdorf stresses.
Considering that women-owned firms generate nearly $3.1 trillion in sales, they’re hip to slick sales pitches. They don’t want pressure. They want information and time to digest it. So, when approaching a female entrepreneur with a business proposition, focus on the benefits, don’t press for a quick reply and take women business owners seriously.
Bergdorf agrees. “The minute you talk down to me, I am outta there.”
How to reach: The Bergdorf Co. (330) 644-4444; NFWBO (301) 495-4975; Norma J. Rist CEO Consulting Inc. (330) 865-5900.
