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Women's entrepreneurial spirit
Sarah Thomsen
Women's entrepreneurial spirit is the driving force behind ALL the successful woman you come across.
It is High time we give women the recognition they truly deserve in the business world. So often, we see stories of men who have "made it" and are deemed as heroes, while women who have equal or greater successes are simply seen as exceptions to the rule. This has to change. We must begin to see women not as tokens in the business world but as the powerful and influential leaders that they are.
In order to effect this change, we must first understand what makes a woman an entrepreneurial leader. What is it that drives them to be successful? What is a Women's entrepreneurial spirit?
According to a report by the Global Entrepreneurship Monitor, women are starting businesses at 1.5 times the rate of men in developed economies and 2.7 times the rate of men in developing economies. This clearly shows that women are a force to be reckoned with in the business world. If only these hardworking women were given the same opportunities and resources as their male counterparts, there is no doubt that they would be able to achieve even greater success.
Famous author and motivational speaker Sheryl Sandberg once said, "In the future, there will be no female leaders. There will just be leaders." This is a powerful statement that shows just how far we have to go in terms of equality for women in the business world. But with more and more women taking on leadership roles and starting their own businesses, it is only a matter of time until this goal is achieved.
In this blog post, we will be throwing light on everything regarding women's entrepreneurial spirit, how it can be kept alive, and how it can help women to continue growing as entrepreneurs. And lastly, what are some common challenges that women face when establishing their business.
As a woman, I believe we all have this striving spirit within us. It is just a matter of harnessing it and using it to our advantage. With the proper support and help, women leaders can make a name for themselves in whatever we set our eyes to. Women's entrepreneurial spirit is not something women are born with, rather it is cultivated.
If you are starting out as an entrepreneur, initially, you may have no idea what you are doing, and every day may feel like a struggle. You may want to give up so many times, but that spark you have inside you that keeps pushing you forward is your entrepreneurial spirit.
As per a study by American Express called "2019 State of Women-Owned Businesses", In contrast to the 9 % development in businesses generally, the proportion of women-owned firms increased by 21% between 2014 and 2019. Another positive statistic is that during the same time frame, businesses run by women of colour expanded by 43%.
According to a survey by American Express OPEN, the number one quality that makes a successful woman entrepreneur is passion. This is followed by determination, risk-taking, confidence, and flexibility. Around 82% of respondents said that they are constantly thinking about their business, even when they are not working. This shows that a successful woman entrepreneur is not afraid to put in the extra hours to make her business a success.
Related: Need some motivation? See how these women of color got started with their business.
Passion is clearly an important quality for any entrepreneur, but what else makes a woman successful in business? One popular theory is the idea of the "glass ceiling." This is the notion that there are invisible barriers in place that prevent women from achieving top positions in their fields. While this may be true in some cases, it is not necessarily indicative of all businesses. In fact, many women have been able to break through the glass ceiling and become top leaders in their fields. These women's entrepreneurial spirit kept them pushing forward.
Gwyneth Paltrow, the founder of the lifestyle website Goop, is another example of a successful woman entrepreneur. She has built her company into a multimillion-dollar business by following her passions and using her platform to inspire other women. Her brand is now worth an estimated $250 million. In an interview with the CEO magazine, she attributed her success to her willingness to take risks and her dedication to her work. Her work attitude is one that all women entrepreneurs can learn from.
Whatever you build, you need to have a passion for it to make it successful. It should be what you want, it should make you happy, and it should inspire you every day. You cannot build something you have no passion or strive for. So if you're looking to start your own business, don't be afraid to follow your dreams. You never know where they might lead you. And always remember, the most important quality of any successful entrepreneur is passion. Without it, no matter how great your product or service is, your business is likely to fail. You need to listen to your heart for this one.
Natalie MacNeil is the founder and CEO of SHE TAKES ON THE WORLD, a global venture fund and media platform dedicated to supporting women entrepreneurs. She's also the author of the best-selling book The Conquer Kit: A Creative Business Planner for Women Entrepreneurs. Natalie knows a thing or two about what it takes to be a successful woman entrepreneur. Here's her advice for other women who are thinking about starting their own businesses:
"The most important quality that any woman entrepreneur can have is resilience. There will be times when you'll want to give up, but if you're resilient, you'll find a way to keep going. You need to be able to pick yourself up after a setback and keep going."
Related: 9 Women Founders & Tech Entrepreneurs To Watch in 2022
Okay, but there has to be a way to move forward? There have to be ways to become more independent and develop an attitude that is conducive to growth as a businesswoman. Do not fret. We have some good research points that will help you focus on your business goals and never let anyone or anything stand in your way of achieving them. Remember that you are the only one who can control your destiny, so never give up on yourself or your dreams. When we talk about women's entrepreneurial spirit, we really have to look into what makes or builds this spirit.
So what is it that makes a woman an entrepreneurial leader?
like we said before, women's entrepreneurial spirit is something you have to work on, but don't fret, we know just the right features that makes women's entrepreneurial spirit go wooosh!
Below are some key characteristics:
- A willingness to take risks: Women are often risk-takers by nature. They are not afraid to venture into uncharted territory and explore new opportunities. This allows them to create something new and innovative, which can lead to new ideas and new prospects. Pat Mitchell, the famous media mogul and author, hilariously puts it this way:
"Falling on your face at the very least is a forward movement."
- They have a clear vision: As with any successful entrepreneur, having a clear and concise vision is essential. Women who are able to see the big picture and know exactly what they want to achieve are more likely to be successful than those who do not have a clear vision. Did you know that studies have shown that women are better at multitasking than men? This ability to juggle multiple tasks and still maintain focus on the end goal is a key characteristic of successful women entrepreneurs.
- They build strong relationships: We just cannot stress this enough, but the future of building brands and business is through networking! This is at the heart of women's entrepreneurial spirit, and female entrepreneurs need to pay special attention to this. They thrive on collaboration and networking. They know that they cannot do everything alone and that they need to build a support network of other like-minded individuals. This allows them to create a strong foundation for their business.
- According to a survey conducted by SCORE, women are more likely than men to seek advice from others when starting a business and are as successful as their male counterparts. Building networking relationships is key to the success of any business, but it is especially important for women entrepreneurs. And especially when women help each other. The result is a win-win for everyone.
- Confidence: You probably see this trait in every string of women. Women who are successful entrepreneurs have confidence in themselves and their abilities. They believe in their vision and are not afraid to pursue it. This self-confidence is often contagious, which can inspire others to support them in their endeavors. A fact regarding women's confidence: A study recently showed that 60% of people would rather do business with a confident woman than a man. women's entrepreneurial spirit cannot be cultivated without cultivating confidence first.
Related: If you are someone planning to start her own business, see how these organizations in the USA can help you.
Challenges :
Building a successful business empire, establishing women's entrepreneurial spirit or starting a new small startup doesn't come without its own set of challenges. Especially if you are a woman. While passion and determination are essential qualities for any entrepreneur, there are also some specific challenges that women face in business. One of these is the "motherhood penalty." This is the tendency for working mothers to be judged more harshly than their male counterparts.
They are often seen as less committed to their work and more likely to put their family first. This can make it difficult for women to advance in their careers and be taken seriously as business leaders. Another challenge that women face is the "gender pay gap." This is the difference between what men and women are paid for doing the same job. In the United States, women earn an average of 79 cents for every dollar earned by a man.
What do the future hold for entrepreneurial women?
For Female entrepreneurs, the future looks bright. Kauffman's report shows that the number of women starting businesses is on the rise, and Dell's study found that female entrepreneurs are confident they will be successful. It seems that more and more women are realizing their potential and taking the leap into entrepreneurship. So what does this mean for the future?
It means that we can expect to see more innovative products and services, more women-owned businesses, and more women achieving their dreams. It also means that society is slowly but surely changing its perception of what a successful business owner looks like. We no longer have to fit into a man's world; we can create our own world where we thrive.
So go out there and make your mark on the world!
To read more on women and female empowerment, click here.
