Entrepreneurship is not about ideas. It is about making ideas happen- Scott Belsky
The word ‘entrepreneur’ is derived from the French word ‘enterprendre’ which means ‘to undertake. Anyone who undertakes the responsibility of running a business venture, giving it time, value and money is regarded as a successful entrepreneur. Being an entrepreneur is an attempt to create value through recognition of business opportunity. It is a milestone defining opportunity for who so ever chooses this path- be it a male or female. Entrepreneurship clearly defies the laws of gender and has got much more to do with how and where one utilizes the opportunity instead of a gender based label.
However, there have been the emergence of many studies and researches that were done specifically to find out the ultimate results on “who rules the business better” among men and women. As per a research conducted by Centre of Entrepreneurs- “Women entrepreneurs are more likely to work towards controlled, profitable growth with relatively little interest in merely positioning themselves for lucrative exit.”
Women have the edge in terms of taking calculated risks, if the research done by Centre of Entrepreneurship is to be believed which says 87% of women see themselves as financial risk takers as compared to 73% of men. Another finding by the same research institute says that 47% of women are keen to start a new business within next three years as compared to only 18% of men. One major reason for these attributes can be that women had to break many barriers, shatter many pre-conceived notions before acquiring this position which they hold currently in the business world. This is why women tend to take home a lot of study and home work as compared to men.
It is a fact that more than 75% of business is male-dominated worldwide but when it comes to more effective leadership, women dominate this chart as per a data analysis done by Fitsmallbusiness.com. The data analysis says that women have a larger appetite for growth and when all statistics are compared, women actually outperform their male counterparts.
Another solid measure to analyse the success of a business is the rate of job creation. Female-owned firms are way ahead in terms of creating jobs and stimulating the economy when compared to male-owned firms. A longitudinal study conducted by Dow Jones VentureSource found that the firms having three to four female executives have higher success rate compared to those having one or two female executives.
Not just by comparing various studies, if we go by the basic nature also, women have been multitasking all through their life for the kind of society we live in. They have been managing the households and basic domestic chores without the blink of an eye, and ever since women took over the business world, they started excelling in that front too. This in general makes women more well-organized and delegated. Women are also blessed with a brilliant sense of nurturing relationships, higher emotional quotient, and a dash of empathy. So, the business relationships are built on understanding, trust, and compassion which are truly long lasting, one of the keys for business success.
The Bottom Line
Labelling women as better entrepreneurs in terms of creating better brands might be proven through certain researches and statistics however the word entrepreneur cannot be labelled with the gender tag. These statistics show a bright picture of female entrepreneurs and definitely bring out the true facts but the most governing factor in terms to being a successful entrepreneur is not your gender alone, but how you grab the opportunity and make the most of it. Anyone who possesses the skillsets of initiating an idea with wider knowledge, and a willingness to take risks with adaptability and an optimistic outlook will make a successful entrepreneur, whatever the gender may be because in the end, a better leader would be the one who not only ensure his/her own growth but also of the team and the brand. Women are doing a great job though!