A women entrepreneur is a person who chooses to accept a challenging role to meet her personal need and become economically independent. There are several factors that pushing women into entrepreneurship. Some of these are economic, social, religious, cultural and other factors existing in the society. The term Women entrepreneur refers equally to someone who has started a one women business to someone who is a principal in a family business, a partnership or a shareholder in a public company which she runs. As a woman taking on entrepreneurship, however, you may face some challenges which can develop into strengths differing from what a man may experience during his entrepreneurial career. It’s important to identify these possible issues so that you may use them to your advantage. To become a successful businesswoman you need to learn how to overcome the disadvantages that may hold you back.
The Disadvantages of Being a Woman Entrepreneur
Female entrepreneurs are more likely to encounter difficulty because they are less likely to be given an opportunity to be associated with networks of people who can help them launch and sustain businesses. These “Networks” include people who provide mentorship, referrals, help and valuable information to entrepreneurs. Currently, Men entrepreneurs tend to dominate the highest levels of corporate leadership. This, therefore, means that there are fewer women available to provide valuable advice to female entrepreneurs. Women also face “customer/supplier” discrimination, which occurs when customers or suppliers discriminate against women-owned firms. In response, some women business leaders can create their own networks to cultivate the success of female entrepreneurs. However, these networks should include men who can also be helpful to fund-raising, business strategy or other critical areas. Due to the tendency of the highest levels of corporate leadership to be mostly occupied by men, it is difficult for female entrepreneurs to find a woman in a high occupational seat to seek advice from.
The other challenge women entrepreneurs’ face is that of balancing business and family. Women naturally are the backbone of many families; they lay the building blocks on which the family foundation is built. Often times, women entrepreneurs usually find themselves torn between commitment to the family and business.
So, how do you handle such challenge? The answer lies in proper time management and delegation. These two keys are essential to balancing your act and building a successful business alongside a happy family. It is important to schedule your work life with your family duties in mind. As an entrepreneur, you are the boss and therefore you set the hours needed for your business to grow.
Lack of Confidence
Generally, Women tend to lack confidence in their strength and competence, especially in the marketplace. Women are very strong and resilient individuals as long as they can tap into their inner strengths. The family members and the society are usually reluctant to stand beside their women’s entrepreneurial growth. The ball is in the court of the women entrepreneur to gather her inner resources and show the world that she can do it.
The Advantages Being a Woman Entrepreneur
Strength in Emotional Intelligence (EQ)
Leadership studies reveal that having high emotional intelligence may prove to be an advantage in business. Having a high emotional intelligence quotient is an important factor in leadership and studies have found that women, on average, have an edge over men when it comes to this.
People with high emotional intelligent quotients understand their own emotions as well as the emotions of their peers and use the information to help guide how to think and react to the situation.
Good at Multi-tasking
Women are known for juggling many tasks at the same time and still being able to produce excellent results. Conversely, the guys are masters at focusing on one thing. Therefore this advantage in today’s distracting environment goes to women. Women are more likely to get more work done per time than their male counterparts.
An accurate intuition is a great resource for all entrepreneurs. They call it “women’s intuition” for a reason. Women, in general, can size up another person much faster than her male counterpart. In today’s ultra-fast paced business environment, you need the ability to quickly identify the allies and the enemies. Regardless of whether you are a male or female, you need to trust your gut.
Women generally tend love to group up and work together. They naturally gravitate towards creating relationships and partnerships. Women like to do things in groups; they like to involve people in what they’re doing. Working with others and building long-lasting relationships is a strong trait among many women and may aid in the success of a new business. Creating new partnerships among businesses like your own opens a world of opportunities for your business to grow with your competitors, rather than compete against them. When it comes down to it, the best way to ensure success as an entrepreneur is, to be honest, and work hard to achieve your goals. Hopefully, doing so will lead to more advantages and fewer disadvantages.
In conclusion, we would like to thank you for making it this far. Most likely you are a woman and we encourage you to stick it out until your success is permanent. You can do it and you will do it.