New York”™s first lady, Silda Wall Spitzer, visited the Hudson Valley recently to take part in the Key Bank”™s Women in Business forum at Dutchess County”™s Poughkeepsie Grand Hotel.
It was her first visit to mid-Hudson since her husband, Eliot Spitzer, became governor, and she said she was thrilled to be a panelist at the April 19 event, talking to peers about the challenges women face as business owners.
Although a lawyer by profession (as is her husband), Spitzer is also an entrepreneur. She started Children for Children (www.childrenforchildren.org) in 1996, an organization dedicated to getting children involved in their communities.
Like many women business owners, Spitzer had to juggle career and family. And although she admits it was hard to let go, she finally decided to turn over her executive director reins to someone else.
There is a demarcation point for everyone, she said. “It is difficult to turn your ”˜baby”™ over to someone else; send your business ”˜off to college,”™ so to speak, just as I am getting ready to send my children off to school.”
Her first choice, unfortunately, did not work out. “You take a risk,” Spitzer told listeners. “When you are in a position where you have to choose to replace someone, it can be a tough decision, but that”™s part of the challenge of the business owner ”¦ we now have a wonderful executive director, and it”™s worked out really well.”
Spitzer counseled women not to look at poor choices as mistakes. “”˜Mistake”™ is not in my vocabulary; rather, I like to view those choices as an education, try to learn from them and move forward with more wisdom.
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“No rational woman goes into business on her own,” continued Spitzer, eliciting laughter from the audience. “Don”™t fear to fail ”“ fear holds you back and keeps you isolated.”
She narrowed down three challenges women face in business, “First, maintaining the balance between family and work; secondly, staying focused and ”¦ (keeping) your eye on the end goal. Lastly, you must take risks. I know that may sound strange coming from me ”“ I”™m a lawyer by background and it”™s my immediate forte ”“ but as a business owner, I have to push myself to the edge and hope there”™s a ledge to stop my fall.”
Health insurance for small businesses, whether profit or not-for-profit, is a concern for all, and Spitzer”™s children”™s organization is no exception. “You want to provide the best for your employees, make sure they have affordable coverage available that includes what they need, not just medical but dental coverage. In my own business we are still struggling to come up with a full package that meets the needs we all face and will continue facing for some time.”
Citing the growth of women-owned business both in New York state and nationally, Spitzer said she sees a paradigm shift. While they”™ve made a crack in the glass ceiling, with many women now sitting in boardrooms, the lure of owning a business is not just about money, but freedom of flexible hours. “It”™s more efficient to go out and start your own business. There”™s more freedom built in to plan your schedule as a result.”
When asked how a new business owner can promote herself, she said, “The Web is a great way to market yourself. It is also a lot about networking, especially the face-to-face aspect ”“ I can”™t overemphasize that meeting people and making that first contact, and then following up, are essential.”
Spitzer clearly enjoyed being a panelist and talking with audience members after the forum. “The room was filled with people brave enough to take an idea and start a business. Take a look at our American economy ”“ how many of our industries began with a single person? It is more difficult for women. Women have more juggling to do.”
Now as first lady, Spitzer plans to take an active role in her husband”™s administration. Participating in the panel for women business owners is just the start. “I”™m just ”˜founding”™ chair of Children for Children now. I am in the process of defining what my role will be to see how best I can contribute.”
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