Just for the Ladies: Reasons Women Are More Successful Business Owners Than Men
Between the years of 2008 and 2011, women accounted for a huge 80% of the increase in self-employment. Today’s modern women are clearly more business-oriented than ever before, with some even suggesting they make better business owners than men.
Generally, if you own a business with employees, you have to implement some form of leadership skill. Research has consistently shown leadership differences among men and women, with some showing more favor toward the feminine style. To discover why women are often considered more successful business owners than men, read on!Just for the Ladies: Reasons Women Are More Successful Business Owners Than Men Click To Tweet
More care and control
In the world of business, men typically race ahead in order to help their business grow as quickly as possible. This often requires taking risks and, if these risks don’t pay off, could cause more harm than good for the business in the long-run.
For example, when starting up the majority of entrepreneurs will need some sort of funding to get their business off the ground. Men may jump in and spend too much money too soon, leaving them in an extremely difficult position if they aren’t yet making substantial profits. Whilst there are plenty of easy and legitimate methods to apply for a small business loan, being sensible is still key.
However, women tend to be more calculated and controlled when it comes to business growth, funding and risk taking. This may mean their businesses grow slightly slower, but are likely to be much more stable and successful.
Not too over-confident
There’s a fine line between confidence and arrogance, and women tend to get the balance just right. Men often over-estimate their expectations for financial success and profits, which can sometimes give a negative impression to both their employees and clients. Being realistic about what you predict to achieve yet still being confident in your business’s abilities is something women seem to implement much more than men.
Take a long-term view
Considering where your business is going to be in a year’s time is essential for predicting growth and establishing the most appropriate strategy to get there. Women often take a long-term view and therefore tend to achieve this very well, whereas men generally just focus on immediate things and completely neglect future prospects.
This can then leave male entrepreneurs with little plan or strategy for the future, which can be hugely detrimental to business growth. It’s the female tendency of forward-thinking that often gives them the edge in terms of running a business.
Whilst it’s undeniable that there are plenty of successful male business owners out there, female entrepreneurs seem to be finally getting the recognition they deserve as being just as, if not more, successful than men. Leadership strategies will differ among everyone, and there are certain men who implement female-type traits and vice versa, but generally speaking the female methods of leading tend to be more successful for business growth, first impressions, employee satisfaction and long-term success.
Harriet Garner started her own business several years ago after taking a redundancy as a sign that now was the time! She attends women’s business conferences and is happy to share her knowledge with other wannabe women business owners.