By Erin Chambers

Although they weren't quite sitting around a campfire singing Kumbaya, those who attended the award ceremony for the top 100 women-led businesses in Massachusetts had a certain girl-scout sense of camaraderie. The event, held at Boston's Ritz-Carlton on Dec. 6, brought together a group of female chief executives and entrepreneurs whose outfits represent between them more than $7 billion in annual revenue, 25,000 employees, and some of the Bay State's biggest success stories.

"That's what I call performance," said keynote speaker Nan Langowitz, director of the Center for Women's Leadership at Babson College. The biennial top 100 list is compiled by the Center for Women's Leadership and the non-profit Commonwealth Institute, which both hosted the reception.

WORKING THE ROOM.  To be considered for the list, a company must be either privately held or a legal subsidiary of a corporation headquartered in the state. Medical, law, banking, and nonprofit firms weren't included.

It was a diverse, high-powered bunch. During the introductory cocktail hour, one attendee worked the room in cowboy boots with a fringed leather bag, while others donned tailored, Boston-proper tweed suits. Nancy Connolly, CEO of document solutions consultancy Lasertone (No. 45 on the list), grabbed a salmon-cucumber roll as she explained her company's ongoing legal battle with a bigger competitor. Across the room, Julia Greenstein, president and CEO of biotech Immerge (No. 55), and one of more than a few PhDs present, reminisced about her time spent "on the bench" as a lowly lab tech.

After an hour of mingling, Langowitz began her 15-minute address with congratulations to the movers and shakers in the room. Women are often portrayed as "opting out" of the halls of power, the Harvard grad and longtime Babson professor said, "but everyone in this room is opting in." The audience collectively nodded in agreement, but Langowitz sought more enthusiasm. "Yes, it's OK, you can applaud," she encouraged, extending her arms to the audience.

WHEELING AND DEALING.  The room full of CEOs indeed applauded, but they were not a group all that concerned with patting each other on the back. Despite the dangling crystal chandeliers and silver platters of delicate crab cakes, the night had a utilitarian feel. It was about sharing experiences, giving advice -- and networking.

Women comprise the fastest-growing segment of small-business owners (see BW Online, "Women Lead the Startup Stats") and these decision makers were seeking to strengthen their coalition. Even Stephen Spinelli, Babson's vice-provost for entrepreneurship and one of the few men in the room, said he could "feel all the deals being made." Amid a sea of stylish handbags and glasses of chardonnay, business cards exchanged hands.

Karen Bressler, one of five CEOs to take the speaker's podium, talked about the work-life balance that has historically been the biggest hurdle for women in business. "Running a business is like being a kindergarten teacher sometimes," said Bressler, who runs Agar Supply, a $350 million food service outfit (No. 4). She advised her peers to take advantage of all facets of their personalities -- both the nurturing side and the tough side. Each of those qualities, "gives us an incredible edge." In a room where the few men present were either offering finger food on silver platters or quietly supporting a spouse or colleague, "us" was a common buzzword throughout the night.

EYES ON THE STARS.  Like most celebratory events, the speeches went on a little too long, and what began as a standing-room-only affair had shrunk to a half-filled ballroom by evening's end. In their final strolls past the two large boards at the front of the room displaying the top-100 list, the CEOs were obviously pleased to see their names, and their company names, in lights. But few were satisfied by mere attention -- the same attitude that got many of them there in the first place.

"I want to be up around Cumberland Farms," said Valerie Wrenn, CEO of Engineering Management Solutions (No. 69), referring to the top-listed outfit. Thus is the bar moved higher.

Chambers is a reporter for BusinessWeek Online in New York