Top 5 Reasons Why Women Make Successful Entrepreneurs

by Lauren Schneidewind on January 2, 2017

The two most impressive business trends of our time are the economic empowerment of women and the rise of entrepreneurship. We’ve see an increase in the number of leaders who possess a winning set of qualities that make their company prosperous and their brand respected.

Why focus on women entrepreneurs? Because they are creating business success. According to The 2016 State of Women-owned Businesses Report, prepared by Womenable, a research, program and policy development consultancy:
There are 11.3 million women-owned businesses in the United States, employing nearly 9 million people and generating over $1.6 trillion in revenues.

The number of women-owned companies increased by 45% between 2007 and 2016, compared to only a 9% increase among all businesses.

The 10 states with the most women-owned companies: California, Florida, Georgia, Illinois, Michigan, New York, North Carolina, Ohio, Pennsylvania, and Texas.

The top metropolitan areas for women-owned companies: Atlanta, Chicago, Dallas, Detroit, Houston, Los Angeles, Miami, New York City, San Francisco, and Washington DC.
The influence of women in the U.S. and in the international business arena is increasing tremendously. There are 5 important reasons why women make successful entrepreneurs.

Women are great communicators.

A woman’s social intelligence is very high. This is a quality much appreciated by customers nowadays when connection and engagement matter. Women listen carefully and pay attention to the details while having a conversation. Additionally, they are willing to hear alternative points of view.

“Leadership is about making others better as a result of your presence and making sure that impact lasts in your absence.”
Sheryl Sandberg, COO of Facebook

Women are supportive and encouraging.

A quality of great leaders is to be humane and helpful in words and actions. In general, women are truly sensitive to other people's needs and understand what encourages and motivates them.

“If your actions create a legacy that inspires others to dream more, learn more, do more and become more, then, you are an excellent leader.”
Dolly Parton, entertainer

Women are ready to face failure and learn lessons.

Women are not afraid to open themselves up and to talk about their fears. Since they have less ego attached to failure or success in business, these concepts don’t have the power to control them or ruin their motivation. Surprisingly, in difficult moments women are practical - they are ready to address issues and acknowledge what the problem is. As a result, they are able to overcome crises relatively easily.

“Failure is so important. We speak about success all the time. It is the ability to resist failure or use failure that often leads to greater success. I've met people who don't want to try for fear of failing.”
J.K. Rowling, author

Women are creative and encourage creativity in others.

The ability to come up with ideas, even though they may sound crazy; the readiness to experiment, to learn and produce entirely new, amazing products; building a remarkable personal brand – all this is creativity. Women are naturally creative, and they know how to help others develop their creativity.

“Find a beautiful piece of art. If you fall in love with Van Gogh or Matisse or John Oliver Killens, or if you fall love with the music of Coltrane, the music of Aretha Franklin, or the music of Chopin - find some beautiful art and admire it, and realize that that was created by human beings just like you, no more human, no less.”
Maya Angelou, author

Women are great at multitasking.

It’s impressive how women are capable of juggling multiple priorities. The way they balance their multiple roles is also a distinct advantage in business. Living in the digital era is hectic, but women manage to save their company money and time thanks to their multitasking ability.

“Keeping it all together as a modern woman means multitasking, especially when you work. I think you always need to try your best, but at the same time you can only do what you can do, and you don't need to beat yourself up about it.”
Heidi Klum, actress

As reported by the Centre of Entrepreneurship, 47% of women already running a business are willing to start another one within the next three years. At the same time, only 18% of men are keen to do it again. So, in addition to their other qualities, women are also very ambitious. That makes a winning set of qualities for a successful entrepreneur!

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