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7 Reasons Why Women Make Great Entrepreneurs

By: Andrew Deen

 

The Difficult Path for Women Millennial Entrepreneurs

Women have been making waves in the business world successfully launching impactful startups and running fortune 500 companies. Though women have historically been discriminated against in the workplace and faced barriers such as the glass ceiling, they have continued to bring their robust business talents and innovations to life despite these challenges.

Today, inspirational women in business and tech are inspiring thousands of others to pursue their dreams regardless of traditional gender norms.

Understanding the reasons that women are finding success in the workplace can provide one with a more nuanced perspective about the ways in which business is evolving in today’s modern age. Here are seven reasons why women are great entrepreneurs.

Resilience

Unfortunately, being faced with obstacles, barriers, and challenges have been hallmarks of the experience of women for hundreds of years. When it comes to business, this is no different, and women have had to overcome many hurdles that their male counterparts have not. Over the last decades, women have fought for the ability to step into important positions in a variety of industries such as engineering and tech.

As a result of having to face a number of hindrances, women are forced to develop resilience in the face of adversity. Resilience is arguably one of the most important qualities that an entrepreneur can possess, as being an entrepreneur requires being able to overcome a number of obstacles and stressful days in order to reach success.

This being the case, women may have an edge over their male counterparts when it comes to being able to weather bad times and make it to the good ones.

Interpersonal Sensitivity

Polls have shown that women are typically far better at displaying interpersonal sensitivity than men. When it comes to business, being able to collaborate and understand others deeply and effectively. For entrepreneurs starting their own businesses, interpersonal sensitivity can be a game-changing skill.

By being able to understand others more effectively, women have an advantage when it comes to building teams and business relationships. When it comes to entrepreneurship, knowing the right people can often come in handy. As such, women and their more advanced skills of interpersonal sensitivity are ripe for tackling the process of growing a business as an entrepreneur.

Bringing a New Perspective

Studies have found that, on average, Fortune 500 companies that hire three or more women in positions of leadership see an increase of over 60% in ROI. Likely, this is due to the fresh perspectives that women in business are able to bring to the table.

When it comes to entrepreneurship, the fresh perspectives and unique insights that women have may offer them an advantage when it comes to creating and growing new businesses. By being able to see things from new perspectives, women are able to become great, successful, and innovative entrepreneurs.

Inspiring Others

Many of those who find the most business success are those who are able to inspire others. In entrepreneurship, one’s idea won’t go anywhere if one isn’t able to inspire others and make them believe in one’s vision.

Women in business are able to inspire others by breaking down barriers and reaching success in a way that is much harder for them. This being the case, the accomplishments of women in business and entrepreneurship are able to inspire others and instill others with belief in their vision. The ability to inspire is a quality that makes women amazing entrepreneurs who are able to bring people together to make ideas come to life.

Willingness to Experiment

To be a successful entrepreneur, one will have to be willing to experiment and take risks, even when others don’t believe in one. Studies have shown that women are more likely to experiment and risk failure when in leadership positions in businesses, making them ideal entrepreneurs.

Women have a leg up on men when it comes to the willingness to experiment, which can make them more effective entrepreneurs. Entrepreneurs often have to pivot and change courses many times over to find success, and women’s willingness to experiment makes them especially able to adapt and thrive in these scenarios.

Maintaining a Good Balance Between Work and Family

When it comes to male entrepreneurs, there are countless stories of them working long hours seven days a week for years. Maintaining this schedule, it’s likely that they weren’t able to spend time with their families and keep their home life running smoothly.

Women typically place a greater emphasis on family life and are far less likely than men to let their families suffer as a result of their work. This skill is one that is less talked about in conversations about entrepreneurship even though it is incredibly important. As such, their ability to maintain a good work-family balance makes women great entrepreneurs.

Less Likely to be Frivolous with Spending

In business and entrepreneurship, being able to spend one’s funds wisely can radically affect the trajectory of an operation. As such, those who are less likely to be frivolous with their funds are in a better position to move their business in the right direction.

Women have typically been shown to be less impulsive and frivolous in their spending in business leadership positions than men. This being the case, women are at an advantage when it comes to spending their business’s money wisely. When it comes to start-ups with lean funds, women can be incredibly adept at spending money in wise and useful ways to grow businesses sustainably.

Women are Making Waves in Business

Though there are still changes that can be made to make business more equitable between men and women, women have been making seismic waves in business over the last few decades. Through the hard work of many inspirational businesswomen and female entrepreneurs, the face of business is changing to better reflect the women who are making their mark and utilizing their innate qualities to find success in the field.

Published: September 9, 2022
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Andrew Deen

Andrew Deen has been a consultant for startups in almost every industry from retail to medical devices and everything in between. He implements lean methodology and is currently writing a book about scaling up business. Twitter @AndrewDeen14.

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