Women reach at least two, probably more, transformation points when they decide to become business leaders. The first is when we decide to own our economic future by starting a business. Right then, we make a choice not to be an “employee,” but to become a business owner. The problem is that we often still think like an employee and spend a lot of time–too much time–waiting for someone to tell us what to do. We either become perpetual students or find a business consultant that insists that we adhere to their way of doing things. (Hint: Good business consultants and coaches don’t insist on you following their “method.”)

At some point, one of two things happen: either the woman goes out of business or she undergoes the personal transformation necessary to become the business owner.

A second point happens when the woman has a few employees. We like being “friends” with our employees. We want to suggest, to console, to teach. We are rarely trained to develop the leadership muscle and we don’t have a lot of role models that demonstrate women’s business leadership for us. Fortunately, that is starting to change with women political leaders like Angela Merkel and Hillary Clinton, and business leaders such as Anita Roddick (founder of The Body Shop).

Like profoundly good male leaders, women leaders often go through a cauldron of fire, testing their resolve and helping them reach within themselves for personal transformation. While it’s not necessary to go through the gates of Hell to become leaders, it does take some effort and inner soul-searching to define your values, and personal characteristics. What makes you unique, burnished to a high degree, is what makes you a leader.

How does personal transformation occur? How do you develop business leadership?

It begins with the truth. In order to develop leadership qualities, you need to uncover and examine the good and the not so good of your life and who you are. Polish your strengths and acknowledge the stuff you don’t do so well. Try new methods and be willing to fail. Expect resistance, from others and from yourself.  No one likes change.

We are the change we have been looking for, we just need to uncover it and bring a strong female flavor to business leadership.

Trends Showing Opportunities for Entrepreneurs

The Economy

Let’s face it. The economy is still a problem. People are still going to be looking for opportunities to save money–the perfect option for a woman entrepreneur!  We’re good at saving money and running small organizations (otherwise known as families) on a shoestring. How can you help people save money, make more money or have more luxury and time for less money? If you already have a business, how can you make your products and services more affordable without affecting your core, potentially high-end business.

As an example, one of my clients has a business that focuses on one-on-one coaching. This is a very high-end service. While she’s been able to maintain her clients from 2008 through discounts and sales, she hasn’t been able to bring in more clients. As a result, her revenues are down. People may want and need her service, but they don’t feel that they can afford it. What’s the opportunity for this entrepreneur? Develop a low-cost, low-time-consuming product for her clients. Find a way to expand her busienss to the Internet, by selling more pre-packaged programs to people who cannot afford or attend her in-person coaching services.

Health Care/Aging Population

The area of health and senior care is a significant opportunity for women entrepreneurs willing to stay on top of the latest trends and legislation. The Health Care Legislation, whether or not it’s final form, will have a huge impact on how health is handled in this country–if only the impact of total confusion. The astute woman business owner will pay attention to what is happening in this space and look for business opportunities, looking beyond how it affects her to the impact on her target market.

One of my clients owns a transportation company. An opportunity for this woman entrepreneur means thinking beyond prom nights and business travel. A significant trend is the “medical vacation,” with people going to areas outside of their home state or country to get the best care at an affordable price. These people will need transportation. If she can offer a complete “medical transporation” package, complete with limo service at both ends of the person’s trip, as well as making airline arrangements, that would be of value to a harried and often hurting person with a lot on her or his plate already.

The Planet

The green business opportunity for entrepreneurs is enormous. Globally, money is being poured into solutions to slow down or stop global warming.  Water is becoming the new oil, while savvy entrepreneurs are investing their talent and time into the alternative fuel opportunity. Even in the battered financial sector, economic prowess will be required to understand and set up systems to support cap and trade initiatives that can deal with currency fluctuations.

For example, one of my clients handles customer research for in the SMB space. Before investing in a “green” opportunity, a company might want to gain an understanding of the impact on its customers.  Will it matter to the customers? If the initiative requires adjustment on the customer’s part, will they handle it in a positive way? What’s the return on investment for the company? By answering these questions for her clients, this woman entrepreneur can take advantage of a very significant trend and business opportunity.

Entrepreneur Opportunities Abound

All you have to do is look at the world around you–sometimes difficult for the woman entrepreneur who is mired in details! Take some time during this week, a quiet one unless you’re in retail, and read widely. See if you can figure out any other significant global trends. Take a walk and bring along your imagination to uncover your own small business opportunities!