Wednesday, September 17, 2008

Wait a Minute - Where are the Women Going?

After growing in number for a few years the number of female CEOs in the Bay Area is declining. Why is this?
Fewer women received venture capital funding in 2007, and there are fewer women in CEO positions, only 13 in the bay areas largest 400 companies/Fortune 500 companies. The article published in the San Francisco Business Times, by Lindsay Riddell. They quote Wendy Beecham as saying more women are opting out than there were 10 years ago. They also quote that percentage of female CEOs receiving venture capitalist funding was at 3% for 2007. Why don't more women receive funding?
Two issues come up - first, when asking venture capitalists who do they lend money too - they say people they know - because women have smaller networks that automatically reduces the number of women who are going to get an opportunity to get funding. A second issue is also how big a game you talk. Women are more likely to be conservative with their success estimates, thus putting them in a less strong position when negotiating and trying to win funding.
So the numbers for 2007 map to a story we have heard before: we need to get out and network with all that will be useful to us, not just women, AND next time up our success capability.

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