So, you’re a woman in business or a woman who wants to enter the ring? We’re sure you’ve gotten lots of advice – some downright disheartening and some pretty encouraging. Just know; there has never been a better time for women to close deals in the world of business than now.
photo credit: Alexander Suhorucov / Pexels
It makes sense: women are well-suited for entrepreneurship. Just think – even though society still has a long way to go before reaching gender equality, women are prospering as entrepreneurs.
In light of the aforementioned, more female business owners are cropping up. Most of them have experienced the type of success you’ll want to follow. Even more, the statistics are optimistic, as there are over 8.3 million women-owned companies in the United States currently. In simpler words, the “better half” is now becoming a competent leader.
So without further delay, here are the five perks female entrepreneurs bring to the table.
1. Emotional intelligence
In recent years, leadership studies have discovered that having a higher level of emotional intelligence quotient is the key to success. Studies have also concluded that women, on average, carry a slight edge over men when it comes to EQ.
Emotional intelligence is the ability to understand and perceive both your own emotions and that of others and act accordingly. Then, EQ is about the ability to acknowledge and work with your feelings. When it comes to leadership, EQ means, among other things, having empathy and self-awareness, as well as the ability to listen. And that’s the primary reason women are fit for most positions and business models that rely heavily on customer interactions and feedback.
Women can even go back to school just to build their businesses. For instance, if you, as a woman, want to learn about auditing, tax planning, and other forms of finance, an online masters in accounting would help. That way, you can have a better grip on the subject and apply your learnings to your business.
2. A productive approach to risk-taking/management
For years and years, the orthodox wisdom was that males take more risk than females. Since risk-taking is usually an integral feature of entrepreneurship, the theory was that men would typically outpace women.
We now have firm evidence that this is based on flawed conventions and probably a large dollop of confirmation bias. According to 2017 research, women are no less risk-averse than men. However, they may take different kinds of risks compared to their male counterparts.
While it’s way too early to make any hard and fast assumptions regarding who can claim the prize as the more adventurous gender, we still have a theory. While females are, say, statically less likely to flutter large sums of money on a horse race, they are more likely to consider risks, such as investing In social decisions. This boldness may be a significantly desirable trait for business turfs involving complex social relationships, such as customer relations or community management.
3. Neuro-circuitry inclined toward creative decision-making
It’s important to point out here that there’s no single “man” or “woman” brain blueprint. As a matter of fact, recent research suggests that almost 94% of humans have bits of intelligence that possess a mix of feminine and masculine features.
Nevertheless, we’re learning that females tend to have more links between the left and right brain hemispheres. This may offer an edge in pulling together conflicting information from a series of sources.
And, joining the dots, there’s a firm belief that being a successful entrepreneur requires precisely this “out of the box” approach. As Albert Einstein believed, “Logic will move you from A to B, whereas imagination will take you everywhere.”
4. Parenting experience has entrepreneurial gains
When it comes to balancing work with parenting and life, people tend to think of the obstacles. After all, we’ve all heard or experienced the tales of the recalcitrant teenager or the screaming toddler. But, as every parent knows, you can learn a lot along the road.
When you are open to it, any experience can turn into a lesson, and parenting, in particular, is full of lessons. Each of these experiences and learnings can benefit the entrepreneur.
Multitasking is yet another strong point of female entrepreneurs. Many mothers have become skilled at managing various aspects of their lives simultaneously – habitually out of need rather than any wish to be a multitasking sorceress. This ability to manage competing responsibilities is also essential for the entrepreneur, who often discovers herself wearing many different hats simultaneously.
5. Women make powerful leaders
In today’s world, more and more companies recognize the value women bring to the role of “leadership.” Employees today desire a leader who can balance “hard power traits” with “soft power traits.” There are three soft power traits: flexibility, patience, and communication. These are all mannerisms in which many women excel.
Additionally, employees are searching for authentic and transparent leaders who can see their own weaknesses. Here, again, female entrepreneurs have an advantage. The bottom line here is that women often make exceptional leaders. This is something that the working field is coming to appreciate and recognize.
Men, step aside; women are onboarding!
Times are different now. A woman is her own boss. She does not need to rely on any other person’s security or income to lead her life. Also, women are tougher than we think. They pour their hearts and souls into what they create. Soon, we’ll begin to witness more women-led businesses.
These are some of the best perks of being a female entrepreneur. If you, as a woman, ever hesitate to break the stereotype, remember that there are many successful female entrepreneurs out there – kicking ass without hesitation or apology.