Business Women's Day: Why Women Naturally Do it Better

September 22nd is Business Women's Day. Hail to all the female entrepreneurs who are rockin' it in business today. Today it's all about you.

 

The Facts Don't Lie.

Women in business are highly successful in business, and the facts don't lie. The number of women-owned businesses and startups have almost doubled the last decade alone. Women have proven to become better managers, accountants, networkers and sales representatives, and even crowd funding entrepreneurs better than men. Recent studies have also detected some some pretty interesting differences between female and male entrepreneurs. 

• More than half of female entrepreneurs consider multitasking, creativity, and empathy to be major strengths compared to men. 
• Men consider confidence as their biggest strength.
• Women are more likely to sacrifice their personal time and social lives for the success of their businesses. 
• Men are more likely to sacrifice time with their spouse and children. 
• Women are also more likely to hire their own children to work with them in their businesses than men.

Personality and Passion. 

It's all about personality that separates one business from another. Women who run successful businesses embrace change, are empathetic with customers and team members, are willing to trust others, and are reliable. Some of these personality traits may be difficult to acquire when running a business, particularly being open to and embracing change. After a length of time, women or female entrepreneurs can become very attached to their routines and "set in their ways". While there's nothing really wrong with this, it can make adapting to change a little difficult. Each woman's individual personality, however, plays a huge role in this. A female entrepreneur who open, empathetic, are willing to trust, and are reliable will have an easier time dealing with change and will run successful businesses.

So this begs the question...Is entrepreneurialship inborn? Or is it learned and based on gender?

In this blog and many others, we've talked a lot about personality and how it is a key component in leadership and being an entrepreneur. So this begs the question...is entrepreneurialship inborn, or can it be learned? In addition to the top five key personality traits that are necessary to running a successful business, we dive into a little bit more detail here and look at what most entrepreneurs have in common...both male and female. Most entrepreneurs have a high level of intellect, have good instincts, are passionate and energized, have an exceptional drive like no other, are excellent communicators, leaders, and motivators, and are fearless. Does this sound like anyone you know?

So which comes first...the chicken or the egg? Are these characteristics that an entrepreneur learns? Or is are these innate personality traits that an entrepreneur is born with? You be the judge...

Show Us the Money, Ladies. 

In addition to the above, women are also believed to naturally be better money managers, which is obviously a crucial area of business. In fact, women have proven to be pretty successful crowd funders. According to a report released by Bank of America earlier this spring, about 40 percent of women began startup businesses within the last five years. Furthermore, 70 percent of those successful female entrepreneurs expect their revenue to increase over last year, which is more than the percentage of male-owned businesses. This is likely due to women's success with crowd funding.

While studies have shown that businesses and startups owned and operated by men receive more venture capital, traditional funding, and sponsors than women, women have proven to be more successful with crowd funding websites. This even goes for female-owned small businesses that are technical in nature or provide a tech-based service.

So we've covered quite a bit here. But what is the reason for all this? Why are more women killing it in business and becoming entrepreneurs? Is it because we are finally entering a more equal society? Are women taking charge and closing the pay gap? Is it because the economy has forced more women to take on second and third jobs? Does technology make it easier to operate a business for stay-at-home moms? Maybe all of these are legit reasons. But maybe the shortest answer is because women do it better...

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