While more and more women are becoming entrepreneurs and taking up leadership positions, there are still issues of concern on the kind of progress being made. Women may not be taking it head-on to find their place in the entrepreneurial world and they are allowing men to continue domineering in this economic area.
While it’s not expected that every entrepreneur woman should become a chief executive of a large corporation, there is need to pay attention to facilitate women with the means to realize their potential.
Women need to learn to be more confident because they are endowed with entrepreneurial abilities just like men.
In America, more businesses are probably being destroyed than they are created, however, despite this trend, women entrepreneurship seems to be on the rise. It is indeed great news to see that there are more women entrepreneurs being made.
Women are just as good as men in entrepreneurship
An article published in the Economist tried to explain that while women own close to 3 in every 10 firms in America, they only make up 6 percent of the workforce in the country and account for merely 4 percent of business revenues. What this implies is that women are not taking their businesses further to the next level.
According to Susan Marlow who is Professor of Entrepreneurship at Nottingham University Business School and editor of International Small Business Journal, she thinks that women do not need to act like men so that they succeed in business. This may just be a long outmoded myth that women need to untie themselves from.
The professor says that the idea that some personality traits and characters are gender-specific is just outlandish. The media has reinforced this myth giving the impression that women cannot do better than men in entrepreneurial and business undertakings.
There aren’t any differences in performance between businesses run by women and those run by men. When they do take the role of entrepreneurs, women tend be just as good as men, added Prof. Susan Marlow.
What women entrepreneurs need to do to up-skill?
- Research every obstacle
When women hit major roadblocks in their business, they need to get into research mode. Talking to experts in their field can help get on track. Let women embrace having coffee or call discussions with people who are professionals in the field they are running businesses. These people are the real game changers and can resolve some of the puzzles that seem to be an uphill battle for the women entrepreneur.
- Build a network with the right people
Women seeking to pursue entrepreneurial activities, you need to relate with like-minded females who have same aspirations. There may not be many within the local neighborhood, however, in the social media; there are entrepreneurial-minded women. Women can connect with other women entrepreneurs through social media platforms. For example, women like Sramana Mitra, can be found online in social media channels. Sramana Mitra hosts weekly meetings for entrepreneurs.
- Accept that you’ll make a mistake — you are not perfect
Women are faced with one problem — they don’t want to accept mistakes. They want to be perfect and not let anyone down. This can be quit touch for women. When you anticipate that you will make mistakes, you are better prepared to handle the challenge that comes your way.
You need to experience, learn, and grow. It will just kill your confidence if you’re going to be too hard to yourself. Women need to understand that business success is highly and directly tied to their ability to believe in themselves.
- Take your time
Whenever you become an entrepreneur or wish to start a certain business, you need to take your time and only put your feet on it when you are set. Wait until you get to a point where the situation feels more manageable, then you can pursue it. You may turn down opportunities that come your way because you have not set yourself to that level — and, there is nothing wrong with that.
- Consider a business journey as a marathon
You are running a marathon but not a sprint when you are in business. Growing a business does not have to work out like what has been witnessed in the social networks, which explode so fast only to die after a few years.
Women need to take their time; however, this does not mean they should stop moving. Constantly look for ways in which you can grow your business — but let it be on your own terms. It is better you take your time and finish a race rather than being injured and bowing out in the middle of the marathon.
- Let things settle down — don’t be emotional
There are times when things get tough and you may react too quickly or strongly. Women need to learn their emotions and step back when things seem unbearable. They need to allow themselves time until they are able to confront the situations. When you handle unexpected issues without emotions, you can make better decisions and actions.
- Don’t be held back by loss aversion
Women entrepreneurs tend to fear losing everything. Don’t just work your way to keep what you have earned or acquired, but strive to make even more success. Stop being intertwined in the business-limiting mindset and make strides in your business progress to reach new growth heights, every time.
These tips can help women entrepreneurs advance in their entrepreneurial activities without feeling that they cannot outperform their counterparts, men. Women should realize that they have the same potential as men to exploit their entrepreneurship abilities including investing in the Stock Market.
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