Men tend to look at money as an
element of power.
This is why they'll brag about how
much money they spend.
For example, look at what happens
when a man buys a new truck. Heíll park it in front of the house
so that all his neighbors can see it, leave the window sticker
on for months, and actually brag about how expensive it was.
It becomes a Freudian ďMineís
bigger than yoursĒ kind of thing.
But women tend to look at money as an
element of security. They see it as a means to an end, not the
Women donít brag to each other
about how much they spend; they brag about how much they
Compliment a woman on her new
outfit, and she'll brag about how she got it at 50% off.
We see these gender differences
in handling money with business owners as well.
Ask any CPA how many times theyíve
had to explain to clients who own small businesses that itís not
the top line (gross revenue) that counts; itís the bottom line
(profit and loss).
Itís better to have a business
that grosses one million a year with a 20% net profit, than one
that grosses ten million a year with 1% net profit.
But most men would rather brag about
owning a company that does ten million a year - even if itís in the
red - than one that does a million a year and makes a killing.
A woman who attended my seminar at
Sacred Heart University in Fairfield, Connecticut, owned a copy
machine company with her husband.
He liked to brag to his friends that
one of the largest law firms in New York City was their
customer. But as she pointed out, that might have been because
all of their competitors were smart enough not to take that
firmís business because they always took so long to pay.
He also bragged about how many
people he employed, and neglected the fact that their labor
costs were killing them.
He lacked clarity of purpose.
The purpose of business is not to
impress people or create more jobs. Itís to make money, plain
Fortunately for the copy machine dealer in
Connecticut, his wife understood this better than he did.
To Your Success,
P.S. For those victim-minded folks who plan to email about how they're "offended"
by this, quit looking for a way to be wounded. Research done at
Stanford, the University of Richmond, and the London Business
School has found that these gender differences affect everything
from hedge fund performance to management styles. Click
here for proof.
Click on this button to