By Bizna Brand Analyst
Women have disrupted the traditional gender imbalance among entrepreneurs with the number of women-owned businesses globally increasing at a rate of 68% since 1997 according to data from the State of Women-Owned Businesses Report.
Successful women entrepreneurs are not only matching their male counterparts – in several ways, they’re even outperforming them.
As more women view entrepreneurship as a viable career path, one thing is certain: successful entrepreneurship knows no gender. It’s a rough-and-tumble world for men and women. Yet many women startup owners find they are a natural fit as an entrepreneur. Why?
The following seven traits embodied in many successful female entrepreneur make them so successful:
1. WOMEN NURTURE RELATIONSHIPS
Relationships are the currency of women and the building blocks of modern businesses. With a natural sense of social intelligence, women tend to cultivate symbiotic relationships wherever they may be, whether at a casual dinner party or an industry trade show. Women’s responsiveness and intentionality helps them strike harmonious cords with potential partners and customers.
2. WOMEN KNOW WHEN TO PHONE A FRIEND
Whether it’s asking for directions or soliciting feedback, women tend to be comfortable asking for help. Seeking guidance closes the expertise gap and leads to carefully considered decisions. Anyone starting a business meets unexpected trials, and those who manoeuvre the uncertainty with a circle of mentors find wise counsel and opportunities for organic collaboration.
4 things successful entrepreneurs have in common
3. WOMEN EMBRACE PASSION
A child’s school play, a long talk with a friend or a piece of artwork – you never know what may be an occasion to grab the tissues. A cause, an idea or talent that deeply resonates with women is many times the best fuel for building a business. Embracing emotions, instead of dismissing them, can result in resilient motivation. Those driven by a passion rather than making the next dollar have a strengthened durability when facing resistance.
4. WOMEN SHARE THE CROWN
No woman wants to be an island. Women are often quick to share credit for accomplishments, and the power of praise goes a long way in the office. Formal recognition practices boost employee morale, as do spontaneous compliments. Rejecting the lonely life on top gives an opportunity for everyone to enjoy a slice of the pie.
5. WOMEN CONTROL THEIR RISKS
High risk is inseparable from starting a business, but women generally are more calculated when it comes to taking a big leap. By doing due diligence upfront, women enter decision-making with a clear understanding of what’s on the line. Approaching business with caution adds a level of security for employees and safeguards against trivial pursuits.
6. WOMEN LEND THEIR EARS
While many women have a natural gift of gab, what generally comes with the talking is a conditioned ear to listen. The best entrepreneurs have perked ears, proactively listening to their customers’ pains and seeking to meet their needs. The result? An ongoing cycle of better products and services.