Why Women are Defining Successful Entrepreneurship
Being an entrepreneur is no mean feat for either man or woman. It requires supreme dedication and sacrifices to set up a company, along with tremendous grit and hard work. Over the years, it has been observed that several women have become entrepreneurs and are mighty successful at it too. How does this happen, despite the fact that a woman has to manage the household as well? Let us take a look.
The 2016 BNP Paribas Global Entrepreneur Report states that women entrepreneurs are not just competing with the males, but are also outperforming them. 2600 high and ultra high net worth entrepreneurs were surveyed by Scorpio Partnership Consultancy for this report. As per findings, 61% of them expect their profits to go up, instead of an average 58% among all entrepreneurs.
Revenue data from the above report also states that companies led by women have shown 13% greater revenues than those by men. They have also remained 9% above all average entrepreneurs. The report stated that more and more 20-34 year olds are starting their own companies, and they are called as ‘millenipreneurs’. The younger generation is clearly more ambitious and rising fast.
Is it in the Woman’s Character?
Yes, it can be said that many aspects of the woman’s character help her understand companies better. For example, a woman always has this calming effect on employees under her. They know that there is someone who cares and understand their problems, for enabling a harmonious relationship. Again, it is not being said that the man lacks in these areas, but these traits are certainly stronger in a woman.
The world is all about equality between man and woman. It is natural that a woman will try to achieve every dream of hers, one of them being setting up a company. Yes, she is bound down by household and other maternal responsibilities, but then she also learns along the way. She learns how to multi-task effectively. It is fair to say that somehow women are able to multi-task a million times better than men.
Other than everything else mentioned above, who can forget sheer determination and grit? Yes, it is the determination and the courage to fight out in a predominantly male-dominated world that spurs a woman towards her goals. Initially she may be doubted for her capabilities, but these are invariably put to rest within a few weeks. This resilience is intrinsically part of every ambitious woman’s character.
The Nature of a Woman
Here is another reason that may have led to the success of the woman entrepreneur. This woman generally looks to make businesses and person lives work in close harmony, and usually does not attempt to raise funds from outside or pursue investors to catapult growth. Such an approach is increasingly being termed as that of a ‘lifestyle business’. More and more women learn to grow the business in a manner such that it allows them to pursue life outside the office as well.
Mental strength is one big factor that has helped women entrepreneurs leap forward. It is this mental strength that has helped them cope with the difficulties and stresses associated with entrepreneurship.
Clearly there are many factors that have helped women move ahead in entrepreneurship. But their motivations to get to this point have been quite similar. Both men and women have had similar levels of education. It remains to be seen how well one can establish himself or herself.