``Who You Know'' Often a Key to Success for Small Business Owners; Small Business Exchange Web Site Helps Women Entrepreneurs Sharpen Networking Skills.

NEW YORK--(BUSINESS WIRE)--Oct. 4, 1999--

Women small business owners are much more likely to network than men, according to a recent study of entrepreneurs commissioned by American Express and the New York City Chapter of the National Association of Women Business Owners (NAWBO-NYC).

In fact, nearly twice as many female owners attend trade shows and participate in trade organizations to help grow their businesses than their male counterparts (43% vs. 23%).

This finding comes as no surprise to Dr. Helen Fisher, an anthropologist and author of "The First Sex: The Natural Talents of Women and How They Are Changing the World."

"Women don't have to learn how to network -- they're born with the ability," noted Dr. Fisher. "In a playground, it's the little girls who form groups and work to build harmony within their tight circles."

"Despite this natural talent, many women owners consider networking a low priority because it takes time and energy away from running the business," said Leslie Grossman, NAWBO-NYC President. "My advice is to make the time -- in today's competitive environment, networking is an invaluable tool that no small business can live without."

Grossman is the October guest author of an article, "Tips On Effective Networking," on the American Express Small Business Exchange Web site (www.americanexpress.com/smallbusiness). Here are some of Grossman's suggestions:

Join a professional association or organization. They provide a variety of networking opportunities, including educational seminars and special themed events. You'll get to meet women entrepreneurs in many industries and at different stages of growing a business. To learn more about your options, search the Internet, contact the SBA or call your industry's trade publication.

Write a one-sentence description of your business. You typically have only 30 seconds to grab a person's attention and have them understand what it is you do. If you ramble on, you'll lose their attention and your potential for doing business.

Don't discount "word of mouth." Carry your business card with you to the grocery store, shopping mall, gym ... everywhere. You never know where your next client or customer will come from. And don't rule out your friends and relatives as possible contacts. Your Aunt Sadie may have a friend who has a daughter who needs exactly what your company has to offer.

Use the Internet. The American Express/NAWBO survey found that only a very small percentage of women and men entrepreneurs take advantage of the Internet to network. It's an invaluable way to reach potential customers and clients here and abroad; connect with other entrepreneurs; find employees and learn more about your industry. Be sure to Bookmark the Small Business Exchange and other Web sites dedicated solely to small business owners and/or to women, including ivillage.com and womenconnect.com.

Give referrals, get referrals. In a networking situation, learn about the other person's business and offer to call a contact on their behalf. Don't be shy -- ask then to do the same for you. Remember, sometimes it appears one-sided, but in the world of networking, "What goes around, comes around."

Talk to "the enemy." Don't give away trade secrets, but don't be afraid to strike up a conversation with the competition either. Rely on "women's intuition" to know whether or not to share information. You can learn a lot from others who do what you do -- especially those who have been on their own longer than you have. Many remember what it was like starting out and are happy to share their wisdom.

Mentor and be mentored. As you network, you'll form contacts who will prove extremely beneficial to you and your company. Some will send new business your way; others will share the lessons they've learned so that you don't have to make the same mistakes they did. Don't ever take this support for granted. These relationships will benefit you both professionally and personally.

In order to find the article, go to the "Information and Resources" section on the site's home page and click on "Day to Day Management." American Express is NAWBO-NYC's premier corporate sponsor. In 1999, the company was honored as both the "Corporate Sponsor of the Year" by the New York City Chapter and "Chapter Corporate Sponsor of the Year" by the NAWBO national organization.

The American Express Small Business Exchange is an online community for small business owners. It was created in 1996 to meet the most pressing issues facing entrepreneurs looking for new business opportunities, advice and information. Throughout the year, NAWBO-NYC members will contribute articles to the Exchange addressing issues significant to women business owners. The next installment will focus on women and finance.

To interview Ms. Grossman and to receive hard copies of the article or survey, contact either Richard D'Ambrosio at 212/640-4868 or Sheree Wichard at 908/608-1925.