According to the latest census numbers (2008), women make $0.77 to every man's dollar (1) and the average revenues of majority women-owned businesses were still only 27% of the average of majority men-owned businesses (2). My hope for Sparking Cinderalla is to foster a community of support for female entrepreneurs as well as provide a little juicy insight into who these women are in their everyday lives. After all, as Mama Gena says, "Women are the greatest untapped natural resource in the world."
Friday, December 17, 2010
Patricia Pao: The Pao Principle, LLC
Name: Patricia Pao
Job Description: CEO, The Pao Principle, LLC
Company info: http://www.paoprinciple.com/
We are a consulting firm that excels at increasing sales and profits for our clients. We do this by: 1) quickly identifying and solving issues which inhibit them from achieving their desired goals, 2) Profitably executing opportunities for growth and 3) Creating a roadmap to ensure continued success. Importantly, we complete all work ahead of our planned schedule. Work to date has consistently resulted in doubled sales and substantially increased profits and relevant metrics for each of our clients within six to eighteen months. Every client project we have worked on has generated a minimum 10X ROI.
WHO ARE YOU?
1. What made you decide to start your company?
I was always good at making money for companies and was always the “go to” person to fix whatever was ailing the organization I worked for at the time. I also really like working on a variety of projects and industries. My interests and skill set were much more conducive to having a consulting firm which specialized in helping companies profitably grow across a wide range of industries.
2. Where do you see your business in 5 years?
We have offices in New York and China (currently in Shanghai but moving them to Beijing). Our company is entering its sixth year in 2011. We have been fortunate to have grown every year (knock on wood). I anticipate by 2015 we will generate four times the sales we did in 2010.
3. Who was your inspiration?
My dad. He is an entrepreneur and taught me to 1) not be afraid, 2) pursue my passion, 3) to work hard and 4) invest in my education (he forced me to go to Harvard Business School when I was 20 years old).
4. What turns you on?
Interesting problems and puzzles. I like the chase…
5. What advice do you have for tomorrow’s female entrepreneurs?
Don’t be afraid of doing the “ask.” What I have noticed is that women are afraid to ask. If a man wants an introduction he will ask one of his buddies to introduce him. Women are more hesitant to make the ask.
6. Tell us a sexy secret ;-)
I adopted the artist Ronnie Cutrone’s cockatiel, Woody, who was the inspiration for his most famous art suite.