by Hanan Ouali
Did you know that women today have more options than ever before? From stay-at-home parent to SHEEO of big companies to small-business owner and everything in between. And yes, you were born to make history, Giiiirl – sooo let’s write a damn bestseller!
According to the Women Business Enterprise National Council, female entrepreneurs own 40% of all businesses in the U.S. and that number seems to be steadily climbing – the number of women-owned businesses has increased by an enormous 114% since 2000. Female entrepreneurs may hold the key to the future (oh yes, they do and you tooooo!) of our economy. So if starting your own business is your dream, there’s never been a better time – never ever! Youuu can be the next successful Delia from Westwing.
Delia Lachance started her career as a lifestyle editor, but always wanted to start her own business. All that was missing was the brilliant idea. At some point the great inspiration finally came. Today she is one of the most successful German entrepreneurs. With Westwing, she launched an online furniture shop that makes interior design hearts beat faster. Their unique selling point: a kind of online magazine that directly invites you to buy more.
“When you welcome opportunity, it tends to lead to new, better and exciting things that result in even more opportunities.” – Amanda Greenberg (repeat reading this over and over again and let it just sink!)
So babe, in this spirit, here are some very positive facts about female entrepreneurs that may surprise and inspire you at the same time (I’m pretty sure they will):
Women create more productive teams
An American study shows that women are better at motivating their employees and are more committed to a company themselves. In addition, women maintain a more constructive feedback culture, praise their employees more often and recognize their performance.
All of this has a very positive effect on the productivity of a team – which in turn can lead to success in a company. Because if we work with more motivation, we perform better, are more innovative, are less likely to be absent from work, make fewer mistakes and stay with the company much longer. And this is ESSENTIAL because the success of a company depends on its employees. It’s about more than just a fair salary. The motto is employee motivation and should be one of the core skills of every manager.
The truth that women outperform men even in this area would be sheer tragedy for the supposedly stronger sex. Let’s establish a minute’s silence for the men. Just kidding, 20 seconds is enough.
Woman think sustainably
Sustainable entrepreneurship is more important to women than men. According to a study called “Shattering Stereotypes”, women generally want to build a long-term business, while men are more interested in quick business success. Women are less interested in exit strategies and more interested in sustainable profit – and that is why they are better at anticipating obstacles, minimizing risks and generally making more cautious decisions. Boss babe, are you still surprised by the statement after you know your power? Not me anymore!
Female entrepreneurs are making strides in healthcare
Healthcare is a booming field and female entrepreneurs are dominating it. Over the past ten years, the number of female entrepreneur-owned healthcare companies has almost TRIPLED. In addition, these companies are growing at an impressive rate – 54.9 percent across all healthcare and social assistance firms, and nearly 183 percent for firms with over $10 million in revenue.
As the baby boomer generation continues to age, the need for more and better healthcare and services is only going to grow. And female entrepreneurs are well-placed to take advantage of that opportunity. Sooo, where are my Grey’s Anatomy fans at? We even can confirm the success of Meredith Grey at Grey-Sloan-Memorial Hospital by an actual study – oh yes! Let’s rewatch all 18 seasons!
Woman underestimate
This stereotypical female trait has been proven to be true: women tend to underestimate while men tend to overestimate. In the “Shattering Stereotypes”, study, 42% of women and 62% of men described their company’s business as thriving – although in fact companies owned by women were more successful than those managed by men. There is also a good side to this female insecurity: women are more likely to seek help from experts than men, and female entrepreneurs are even more likely to work with research institutions. This definitely pays off. As you need experts in certain areas. So, when women seek for help in an area they are not well knowledged in, they try to become an expert themselves. Someone who, rather he or she, has developed a deep understanding of a subject. This expertise consists of theoretical as well as practical knowledge and skills. This leads to exceptional problem-solving skills. Just another point that confirms that women drive the economy forward
Being a female entrepreneur leads to higher life satisfaction
States score their satisfaction nearly three times higher than women who are not entrepreneurs or established company owners.That’s an impressive fact! Running your own business may be the key to happiness – who knew? Plus, it’s a great way to create financial stability – and financial worries are one of the top causes of stress!
A Forbes article called “Promoting Employee Happiness Benefits Everyone” quotes author Patrick Lencioni, who defines happiness at work as: “feeling meaningful (you want people to know your name), that what you do, have an impact (that you are involved in relevant work) and that you are making progress (that your work has an impact and moves you and your organization forward).”Job satisfaction is something we should all strive for as work plays a crucial role in our overall happiness and well-being.
HAPPY WIFE (woman, girl, mother, grandmother…), HAPPY LIFE!
Ready to become an entrepreneur yourself?
We can say that female entrepreneurs seem to be more successful than male entrepreneurs – no matter how big or small the company they run, and regardless of the sector in which the company is based. On average, small businesses and sole proprietorships generate more profits when run by women than by men. So far so good.
But from the woman who manages family and small business at the same time, to the SHEEO of a huge company, they all have one thing in common: female entrepreneurs tend to be in the minority. And mostly they earn less than their male colleagues. But there are signs of change.
Although women are (statistically) better bosses, just 20% of Americans surveyed would rather work for a woman, while 33% prefer male bosses. The good news: the majority of 46% have no preference – it doesn’t matter whether the leader is a man or a woman and that’s what I call true equality.
Starting your own business is challenging, rewarding, and exciting. It can also be a little intimidating and you’re going to have to pick up a lot of new skills very quickly. Fortunately, there are a ton of amazing, talented female entrepreneurs that have been where you are – starting from scratch. One of the best things you can do for your new business is finding an experienced mentor to help show you the ropes, give you advice, and support you as you get your project off the ground. They’ve helped to clear the way for your success, so take advantage of their knowledge!
Let’s become the strong and lucky boss babes who confirm and maybe even surpass the stated facts so much. Let’s take the world a little further in the right direction. Let’s start now, because we’ve waited far tooooooooooo long!
