Advantages of Being a Female Entrepreneur
One thing is for certain – in a corporate environment, being a female entrepreneur has its advantages right now, more than ever. The Australian Bureau of Statistics has revealed that women own 34% of businesses in the country. In the US, the numbers are very encouraging, with more than 9.4 million firms in the country bei
ng owned by women according to a 2015 NAWBO stat. These women are also creating more jobs than their male counterparts. Here is a look at the some of the reasons that make them superior to their male counterparts:
They are more likely to seek guidance or guide someone
Since women are always at the crux of managing their homes and families, while also building their careers, it becomes important for them to learn from examples. Gen Y women entrepreneurs are 34% more likely to seek mentors, compared to Baby Boomers because they understand how mentoring empowers and boosts long-term growth. Budding female entrepreneurs need to align their personal and business goals, and female mentors enable this learning and growth by offering support, filling skill gaps and by leading by example. The good news is that Gen Y entrepreneurs have more mentors than ever before! When the time is right, they will mentor the next generation of budding female business owners. Through this cycle, every subsequent generation of women entrepreneurs will have more and more women will access to mentorship to guide new and upcoming entrepreneurs in their area of expertise.
They like to collaborate and create long-term partnerships in need
Women are more likely to look into building strategic relationships and partnerships, even with the competition. This allows companies to grow by sharing resources and division of labour. The prevalent attitude is that there is enough business to go around, and therefore it is smarter to work with each other rather than against each other! This way, female entrepreneurs have a network to fall back upon and grow with rather than compete with them. Studies find that female entrepreneurs are more likely to work well together towards the collective common good.
They encourage a family friendly company culture
Female bosses are far more encouraging of employees who want to balance family and work. This is inclusive of the flexible option of working from home, which reduces onsite presence without compromising on productivity. The shift has been especially beneficial to female business owners who get the space to grow professionally, while keeping the work-life balance intact.
They possess a superior emotional quotient
Emotional quotient is the ability to understand, process and perceive emotions – either their own, or those of others’. This is the core quality required for a good leader, to be empathetic towards the feelings of others, listening with the intent to understand and help employees efficiently and effectively tackle their problems at work. Therefore, this gives women an edge over male bosses as it makes them better at leading their team and creating feelings of loyalty.
Studies have proven that women who have started companies on their own have a far greater sense of work satisfaction than their male counterparts. With their ability to multitask, women handle multiple responsibilities at the same time, while working their own hours and making full use of their strengths and capabilities. When they feel like they are using their complete potential, they are much happier than their male counterparts, giving them immense job satisfaction.