Benefits Of Female Entrepreneurship: Why Women are Great At Business
Great News! As a woman, you possess natural skills that can make you an excellent business owner.
From providing insightful perspectives to innately knowing how to read and inspire others, women are a vital force that is no longer being overlooked. Before I get too many comments on this statement, let me say that men can have these qualities too. But these important characteristics are more natural in women.
Whether it’s a result of nurture or nature or something else, we can use these traits to our advantage to succeed in business.
Today we’ll explore the power of being a female entrepreneur, including …
- The benefits of female entrepreneurship
- Tips to help you become a stronger entrepreneur
Why Women Are Great At Business
Did you know that female-led businesses tend to outperform their male-led counterparts when it comes to profitability and growth? Likely it’s because female entrepreneurs tend to take a long-term approach to business, focusing on the big picture instead of short-term gains.
But that’s only one way women are natural entrepreneurs! Here are a few more.
High Emotional Intelligence.
In years past, this was considered detrimental. You would hear statements like, “Emotions have no place at the office.” While true to some degree, having emotional intelligence gives us the ability to “read the room” or anticipate responses on a deeper level. In a business setting, this allows us to more easily connect with customers, build deep relationships, and ultimately improve customer loyalty.
Dynamic and Adaptable.
Being dynamic and adaptable means we can quickly pivot in the face of changes or challenges. This is key to staying relevant in a continually changing market and helps you stay ahead of the competition.
Experience Facing Tough Obstacles.
Women in business are still sometimes faced with limited access to resources or encounter gender bias. As we work to break down the walls, we are strengthened by what these obstacles have taught us. Resourcefulness, problem-solving, strategic decision-making, and managing difficult relationships are valuable skills that can serve us well as we advance in business.
Empathetic, Communicative, and Value Employees.
As entrepreneurs, women are more likely to have an empathetic approach to their employees and customers. Our go-to style is less domineering and more collaborative. This translates into stronger and more respectful relationships with both customers and employees.
Less Ego-Driven.
Women entrepreneurs overall are less ego-driven than their male counterparts. This allows us to make decisions objectively and prioritize business success over personal gains.
Value Well-being and Life Outside Work.
Women business owners are more likely to have a “work/life balance” mindset. Prioritizing well-being creates a positive, productive working environment that results in higher job satisfaction and employee retention. The positive vibe of the business naturally flows through to interactions with customers too.
Collaborators.
Women are open to collaborating and sharing resources with others. “A rising tide lifts all boats” is a theory accepted and practiced by many women. The result is mutual growth and greater achievements overall.
Frugal.
Entrepreneurial women tend to be more frugal than men when it comes to spending. A money-savvy approach gives you the dollars you need to invest in and grow your business.
Well Educated.
More women are graduating from college than ever before. We have access to structured learning that can teach us how to succeed as entrepreneurs. Those of us who don’t go to college can still seek out training to help pursue our goals. We’re lucky today that a higher level degree isn’t a barrier for an entrepreneur and access to quality information is all around as technology continues to advance.
Value Business Longevity.
Women prioritize building a profitable business that will stand the test of time versus one with only short-term gain. We take pride in creating a business that can supplement or fully support a family or even be passed on to other family members in the future.
Value Creativity.
Women tend to be creative problem-solvers. We search for innovative solutions to our problems and aren’t quick to throw in the towel. This determination and flexibility in finding solutions can keep us going when others give up. If there’s one thing I’ve learned in business, it’s that there is never a day when my ‘Issues to Address’ list is empty!
As you can see, there’s a lot to celebrate when it comes to your potential as a female entrepreneur!
Tips to Become a Strong Entrepreneur
There’s nothing better than learning from others just like you. When you hear from a maker who has faced fears, obstacles, and situations you can relate to, you gain renewed belief in what is possible.
Towards that end, take a listen to the podcasts below where female handmade product makers open up about how they’ve addressed and overcome challenging times in their business.
Create your own identity.
Don’t let others define who you are and what you’re capable of achieving. Instead, take control of your narrative and create an image for yourself that accurately reflects your values and ambition. In this episode, Ximena talks about this and how she’s stayed true to her upscale handwoven garment brand. There’s a valuable discussion on pricing here too.
Take risks.
As an entrepreneur, you need to be prepared to take risks and make decisions that may or may not have a positive result. While it can be scary, taking calculated risks is the only way to grow your business. I know one of the biggest concerns is presenting yourself as the face of your business in order to attract an audience and get sales. Ana of Limbo Imports shares how she does this. You can use her guidance as a model for your business.
Don’t be afraid to ask for help.
It can be difficult to admit that you need some assistance, but surrounding yourself with a team of experts is essential to make sure your business succeeds.
Believe in yourself!
As a female entrepreneur, it can be overwhelming. All the additional pressures and expectations placed on you – many times of your own doing. But remember, you have the power to create something amazing and make a real difference. I love Jenny’s story because it is full of challenges, risks and amazing results. She will definitely motivate you!
Conclusion
Hopefully, you now see what a powerful and capable force you can be in the business world. With the right combination of dedication, ambition, and skill, any woman can become a successful entrepreneur.
Keep these tips in mind as you continue on your entrepreneurial journey.
You’ve got this!
About the author, Sue
With over 30 years of business development and marketing experience, I've been fortunate to work with hundreds of companies of all sizes. Their needs range from start-up guidelines to advanced business building strategies. As current founder and owner of The Ribbon Print Company, we continue to recognize the need for these services ... not just for our customers but for the gifting industry as a whole. That's where the inspiration began for the Gift Biz Unwrapped Podcast and Blog.