Great things may come from anyone, regardless of gender.
Each year, more and more women launch and lead their own businesses. The advancements made by female entrepreneurs often reach enormous heights and make male business owners scratch their heads. However, the path of women in business is not always smooth and hassle-free. It requires a set of skills and qualities for them to feel at ease:
They should be particularly aware of the challenges and risks that might be following them on the road towards desired business growth. Some successful female CEO’s have gladly shared some advice to help overcome the most common obstacles:
1) Female business leaders often act like men
To feel more confident in a business environment, women often prefer to choose a “male” approach towards business management – aggression and competitiveness often take a lead when it comes to the choice of a strategy. But successful CEO’s claim this is the wrong way to manage a business.
Just be who you are and be confident in what you do without trying to “be a man”. Confidence and persistence are your major keys to success. When you feel like your ideas receive less acknowledgement than those of men, do not let it discourage you. When you run any business, make sure every decision is supported with a strategic business plan.
Experts claim that women tend to have extraordinary intuitive sense and they can focus on people in a special way. These features are extremely useful for business management and they set women apart as strong leaders.
2) Female businesses often receive less recognition and funding
As a rule, startups look for investors to help get their businesses to grow. However, capital raising is much more difficult for women-run businesses. Experts agree that investors tend to give money to those of the same gender.
For women looking for funding opportunities, it is advisable to create a solid business plan and bring together a reliable team. It will raise confidence in your startup. Make sure your products fit the market well to look attractive enough for investors.
3) Emotions and other female qualities affect business management
We previously mentioned that acting like men is not a good option for women who run a business. At the same time, allowing your feminine qualities to take over will make your business too vulnerable. It’s in a woman’s nature to be too nurturing and emotional, which only affects business decisions. Running a business often requires tough decisions from the leader, which is why an emotional connection with other team members or customers won’t be an advantage.
When dealing with money matters and business arrangements, female entrepreneurs need to be quick and decisive. It is also very important to be direct in expressing opinions and even criticizing.
4) A lot of women cannot find a balance between their families and businesses
Wives and mothers frequently set up their own startups and then struggle to run their companies and families at the same time, as it is very challenging to run a business while being a mother. In addition, they always live with the thought that they could manage their businesses more effectively if they didn’t have kids.
“Momtrepreneurs” should find a way to devote time and efforts to their businesses and families and thus achieve true work-life balance. Successful female business owners learn to avoid any judgement related to either business or family. They understand that missing a school trip is not a crime.
5) Female entrepreneurs feel the fear of failure
Experts say that women are more inclined to be afraid of failure than men. It is actually one of their main concerns when they are considering launching a business and that is often preventing them from doing so.
Failure is quite common for both startups and even established businesses. But it shouldn’t be considered as something negative. Women should learn to be ready to face a massive failure if they wish to achieve massive success. Successful female entrepreneurs recommend to keep pushing despite the discouraging inner voice. It can sometimes be very hard and you will have to struggle with yourself but this is what female CEO’s usually go through.
The number of women-owned businesses keeps rising. Technology, present-day market changes and other factors contribute significantly to female entrepreneurship. So when it comes to business, many women have managed to catch up with men and show really good results. Hopefully, you will take the above mentioned tips into consideration to overcome your fears, concerns and obstacles.
Just believe in what you are doing and always remember that it’s absolutely possible for you to achieve great things. At the same time, be ready to take risks, even if they go with tough decisions.
Having questions or concerns regarding your future or existing enterprise? Join us in the comments to start a discussion and learn more.
About the author:
Beata Green is Director of HeadChannel Ltd.
London based bespoke software development company. She is responsible for overall strategic direction and overseeing the company’s continuing growth, building closer client relationships and maintaining best working practices. She enjoys brisk country walks with her red fox labrador and then relaxing in front of a TV crime drama with a glass of red wine.