Until recently, traditional norms had many believe that none other than a man could occupy and lead a successful business. For the longest time, such beliefs and views led women to doubt their leadership and business qualities. However, over the past few decades, with the volatility of the market, creativity and versatility have become important factors that account for successful business development. Thanks to these qualities, the number of women in leadership positions has increased significantly in companies around the globe, according to a 2020 study.
The effect of women entrepreneurs
Women entrepreneurs have a significant hand in influencing a vast number of other women to do the same. By having their own businesses, business women become role models. Many women in conservative societies have been encouraged to follow the footsteps of their role models and achieve something of a similar or even greater magnitude. So, how exactly do you become an inspiring woman entrepreneur?
Knowing your strengths
Acknowledging your strengths and weaknesses as a woman is the first step to becoming an inspiring woman entrepreneur. For example, many women have extraordinary intuition. This helps in keeping the business intact in moments where logic cannot apply. Furthermore, women are inherently more adaptive than men. A study conducted from Stanford University suggests that women are better at recognizing a situation and adapting to it easier. This can bring a lot of benefits especially as a woman leader in the ever changing world of business.
Generally speaking, men (as leaders) tend to lean towards forcing their decisions on the team. Whereas women, on the other hand, tend to delve deeper into the situation and understand it from different perspectives. Therefore, men should learn some leadership lessons from women, such as the need to empathize, not commend. Hence, a woman entrepreneur is more likely to find herself surrounded by a close-knit team of people that are like-minded and support her wholeheartedly. Research claims that the most significant factor that people appreciate in women leaders is sensitivity, something that plays a part in being liked by people. Learning from the examples of those who embarked on the same path before you and playing to your strengths is a vital key to success.
Leverage the market
Once upon a time, anything concerning emotions was considered unimaginable in business. Now, cut back to 2021, and there are entire industries thriving on the principles of workplace empathy and emotional support. If you guessed that women are in the majority amongst the contributors in these industries, you are absolutely right. They can definitely be seen as drivers of economic growth.
In areas of the market that focus on emotionality, such as modeling, tourism, education, women are ahead of men in terms of achievement precisely because they are naturally more gifted to handle them. As such, for those seeking to embark on this journey, it is better to use areas of the market suited to their natural strength.
You have to be resourceful and make use of all the opportunities around you, especially technology. If you have a business idea, start developing it and don’t postpone it for later. If you want to set up a business, you can register your company online in many countries now.
Stay up to date with the market
The world of business evolves constantly. One way to combat this constant change is to keep up to date with the ever-changing marketing trends. What exactly is the importance of trends? A simple way to emphasize this is, “if something is trending, that means the whole world is watching it.” Likewise, if you miss out on such trends, it puts your business competition a step ahead of you. Keeping yourself updated with all the latest trends in the business world, such as AI digital trends, hiring trends & PEO services, and hybrid work models with co-working spaces integrated, is important for success.
The Price of Success
Any woman who wishes to become an inspiring entrepreneur must first familiarize herself with the price that she has to pay for it. Building a business is no easy task. In fact, even if you follow all the precedents set by those who came before you, you are not 100% sure to succeed.
Furthermore, besides the risk of failure, you must also pay with your time, love, family, sleep, and even entertainment. You might have to work long, hard sleepless nights in order to ensure your success. You might have to work while your friends go out to a party, work definitely comes with a social cost. Moreover, you may even have to miss out on your children’s youth in pursuit of success.
On one hand, there is loss, but on the other, there is nothing but success. As such, to achieve success, you must first steel yourself to continue forward on your path no matter the loss that will befall you.
With the ever-changing nature of the business world, new prospects are constantly opening up for businesswomen. The world of business is no longer gender-oriented, and this provides opportunities for countless women to use their unique abilities and strengths to transform themselves into inspiring women in entrepreneurship.
Christian Kruse is an economic in marketing specialization, Strategic Consulting. With over 20 years of experience working at the intersection of marketing and technology. A transformational leader, Kruse has held a raft of executive positions throughout his career including Chief Strategy, Data, Strategic Director for Oracle Marketing Cloud, and Responsys in America.
Women entrepreneurs stock photo by Jacob Lund/Shutterstock