| There is a higher failure rate for women-owned small businesses than their men counterparts. The purpose of this phenomenological study was to explore the perceived differences among successful and unsuccessful women-owned small businesses in a New England state. The conceptual framework was based on Dodge and Robbins's organizational life cycle which describes the stages a company goes through and skills needed as a business becomes successful. The research questions focused on the management, marketing, sales, and cashflow analysis skills that have, or have not, been implemented by successful or unsuccessful women-small business owners within the first 5 years of operation. Ten women who own small businesses who succeeded beyond 5 years were interviewed, as well as 9 women who owned small businesses who did not survive the 5 year period. Data were collected by conducting interviews and coded with the assistance of a faculty member who was familiar with small businesses. Results showed successful women-owned small businesses were strategic in the operations of running a business while the unsuccessful women-owned small businesses were more day-to-day focused. Prospective and existing women-owned businesses and organizations that serve them, such as Small Business Administration, Small Business Development Center, Service Core of Retired Executives, and Women's Business Center will benefit from these results by helping women-small business owners to be successful. The results contribute to positive social change by encouraging women-owned small businesses to manage strategically, use social media, and use financial projections to run their small business. This will contribute positively to economic growth, innovation, and employment opportunities. |
