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Do Women Make Great Entrepreneurs?

Posted by Andries Van Tonder on October 20, 2019 - 11:08pm Edited 10/20 at 11:10pm

1. Women possess strong communication skills and social intelligence. The digital economy requires these skills, and women enjoy a slight edge over their male counterparts (according to numerous studies). A stronger network means they will be better resourced throughout the life of the venture. By leveraging their connections, they will have to reinvent the wheel less and learn fewer lessons the hard way.

 

2. Female-owned companies tend to offer family & friendly benefits. These include such perks as job sharing, parental leave and telecommuting. They argue that their more worker-friendly policies boost morale and lead to less turnover, less absenteeism and higher productivity.

 

3. Women also make good listeners. One study found that the collective intelligence of a group rose if the group included more women. They have open minds. They’re not autocratic.”

 

4. Women start companies to better balance their work and family lives. Wealth is not their primary focus, so most remain smaller. But there are exceptions, like Martha Stewart (Omnimedia), Ruth Furtel (Ruth’s Chris Steakhouse), and Lillian Vernon, which make big money.

 

5. Women collaborate. Women have worked well together since the earliest female enterprises, whether dividing grains in the village or working in quilting bees. Even some of today’s cultural stereotypes have legs, for instance, women’s joint trips to the restroom!

 

6. Female owners are more likely to have positive revenues. They prefer lower risk opportunities, and are willing to settle for lower returns. Some women feel that pushing profits is “not polite.” More women entrepreneurs are single person businesses, while men tend to have more employees. Researchers have begun focusing on the relationship between testosterone and excessive risk, thus evaluating whether groups of men spur each other toward reckless decisions.

 

7. Females aren’t afraid to ask for help. Many men (not all) have difficulty asking for help when it comes to something like their very own business. Pride can sometimes get in the way. But most women don’t have a problem admitting that they’re not sure how to accomplish a certain task or what needs to be done next in the building-a-business game. This can sometimes provide an advantage in a well-spring of knowledge from sources that help ground their business more quickly.

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Andries Van Tonder Thank you Charles.
October 22, 2019 at 1:23am
Charles Phillips There is no doubt that women bring great qualities to businesses. What I like about this post is the way many of those qualities are itemized and highlighted. Excellent article Andries.
October 21, 2019 at 12:17pm
Andries Van Tonder Thank you Kevin for your input.
October 21, 2019 at 6:58am
Simon Keighley I think the defining difference is that most women can multi-task Andries and this can be a huge advantage - I'm hopeless at multi-tasking - ha! You are right, there are many great women entrepreneurs. Great post.
October 21, 2019 at 6:57am
Andries Van Tonder There is some great women entrepreneurs , we could learn a lot from them as well.
October 21, 2019 at 5:40am
Kevin Jacobson Sounds like we should start an army of women entrepreneurs.
October 21, 2019 at 4:56am
Andries Van Tonder Thank you for your comment Marian, appreciated.
October 21, 2019 at 12:04am