By definition, the word entrepreneur refers to a person, who creates a business of his/her own by taking care of the designing, launching, running and other important aspects of business in order to make profit. Etymologically, entrepreneur is a French word that indicates only the male counterparts of this particular profession and over the years, entrepreneurship has been the demesne of men only.
But as the time is changing, the techniques and faces of business are changing too. For many years, women have proved their worth in every existing field including science, sports, academics, politics and several other professions despite facing an egregious amount of difficulty. Ergo, it is really not a surprise that women entrepreneurs will change the face of conducting independent business as well. In fact, statistically speaking, there has been an augmentation over 46% in the number of women entrepreneurs over the last two decades.
Therefore, they are inclining towards making something of their own. With the creativity and intelligence ingrained inside them, they are revolutionising the entire world of business operations.
Key Motivations for Women Business Operators:
Every person needs to have some kind of motivation to do something worthwhile and entrepreneurs are not an exception. Although, some of the motivating factors are slightly different in case of women because many of them have to face a fair share of irksome as well as inequitable obstacles. A few key areas of motivation for the women entrepreneurs are discussed below –
Entrepreneurship is a field to exhibit one’s creativity:
There are several occasions where a woman has to repress her own creative skills because of unfair gender discrimination or other social prejudices. Entrepreneurship offers people the opportunity to become a master of their own. Hence, by becoming an entrepreneur, women can exhibit their true colours by their ingenious creativity to run a successful business.
Entrepreneurs can be their own bosses:
When you are an entrepreneur, you don’t have to take orders from anyone else or to worry about your productivity and contribution to the company. For women, the inequitable difference in the pay scale with their male counterparts despite offering similar services is a major problem in many professional sectors. By becoming an entrepreneur, a woman can get rid of these problems in the blink of an eye.
Having the taste of a new venture:
Entrepreneurship offers a venture towards an ostensibly unknown destination which always accounts for excitement. It is the way of taking someone’s own fate into their own hands and manipulate it accordingly. Therefore, it involves a certain amount of risk which is the key ingredient of every adventurous venture. For years, women have repressed their ingrained inquisitiveness and desire to do something risky as well as exciting abiding by the norms of the society. This profession offers them the opportunity to taste the excitement of a perilous yet exciting venture.
It is perhaps the strongest motivation behind choosing entrepreneurship in lieu of corporate jobs, no matter how handsome the salary is. With their own business, women can transcend the problem of dissimilar pay scales ubiquitous in the corporate world. Initially, the income might be in the lower side for the first few months or years but once the business gains a certain amount of recognition in the market; it will be just a matter of time for it to become veritably lucrative.
The Reasons behind the Success of Women Entrepreneurs:
Despite facing several obstacles, the success that women entrepreneurs have achieved over the past few years, is no less than their male counterparts. The main reasons behind this meteoric rise of women entrepreneurs are –
The power of imagination:
The imaginative nature of women allows them to bring in innovative new ideas into their own business and devise strategies that are unprecedented. With proper manoeuvring of these plans, it becomes really easy for them to make their marks in the business world.
The ability to work hard:
This ability is congenital in almost every women and it is one of the most necessary ingredients to build an enterprise. With this ability, women can work indefatigably until they reach the satisfactory level through their entrepreneurship.
Women business operators have unbridled persistence which they use to achieve their goals in business. This ability allows them to work tirelessly until converting their dreams into reality.
Better communication and social skills:
Both of these skills bear a significant amount of importance in the domain of entrepreneurship. As per several statistical studies, women generally have the upper hand in both communication and social skills compared to their male counterparts. They use these abilities to build up an efficient network that eventually becomes extremely lucrative for their business.
Compassionate and friendly approach towards the employees:
Women entrepreneurs tend to treat the employees associated with their business in a fairly compassionate way. With them, the employees usually feel themselves as a part of a bigger family. As per many studies, the employees working under a woman entrepreneur tend to be more satisfied with the job because of the perks associated with their work. Furthermore, women tend to be good listeners which allow them to connect with their employees to a personal level.
The ability to learn:
Women usually don’t turn hubristic with their knowledge and ability and always try to learn something additional for the betterment of their respective businesses. This ability allows them to constantly improve and do wonders with their businesses.
Funding Options for Women Entrepreneurs:
As funding is important for every business, women entrepreneurs require proper funding too to become successful. Apart from the traditional system of taking loans from a financial organisation, nowadays some alternative means of funding are also available that can help them to achieve their goal. These alternatives include lines of credit, crowd funding, angel investors, and many more.
In this patriarchal society, many women still have to face myriads of problems in their daily life. Women entrepreneurs can be a beacon of hope to these women residing across the globe by providing the necessary impetus to get ahead in life.