Three Key Characteristics of Entrepreneurial Women

Three Key Characteristics of Entrepreneurial Women
In my earlier article, I explored the rise of
entrepreneurship among women, and what the definition means
to employed women and business owners alike. Drawing on my
coaching experience with women entrepreneurs I'd like to
follow on with the three key characteristics I frequently
see amongst this enterprising group.

Three Key Characteristics of Entrepreneurial Women

In my experience working with dozens of entrepreneurial
women, the characteristics that set them apart are a
willingness to take risks, a high value on flexibility and
resolute tenacity. Risk- taking is an element of any
working woman's life, the degree of those risks is what
sets entrepreneurial women apart. Deciding to leave paid
employment is the first of many risks, and one too great
for many women.

Statistically, women's businesses grow at a slower pace and
start with smaller amounts of capital than businesses
started by men. Women tend to be more risk-averse and will
often use savings or loans secured against their homes to
finance a business rather than go to bank or venture
capital investors. Starting small is not as problematic for
many women who start in consultancy or the service sector,
which accounts for nearly half of all businesses in the UK
started by women. However, is can be problematic for those
in manufacturing or other industries that are capital-
intensive. Entrepreneurial women research their options,
but still take calculated risks.

Interestingly, the main factor that motivates women
business owners is not financial gain, as many would
assume, but independence. In my experience this often
translates into not just doing things your own way, but
also on your own time scale. Most women who start their own
businesses know they will work longer hours, but it will be
on their schedule. This is vital for working mothers in
particular, and is borne out by the evidence that the key
years for women to create businesses are in their late 30's
- often childbearing years. Women I work with often cite
being able to pick up sick children from school, attend
sports days as well as take time off during school
holidays. One business woman I know with a 7-figure
turnover works relentlessly for her clients throughout the
year but takes each and every term break off as well as the
entire month of August to be with her children.

Lastly, entrepreneurial women are tenacious. Ignoring
naysayers is an early challenge as not everyone will be
encouraging. Pessimism, often in the guise of well-meaning
advice, can kill a business in its early stages and
ignoring this when things are rough is one of the first
lessons any successful entrepreneur learns. They show a
willingness to keep trying, tweaking products or services
until they fit the market perfectly. Tenacity does not mean
blind optimism; it means a willingness to change a product
or presentations until it is right using both guidance as
well as intuition.

Thinking about Entrepreneurship?

1. What do you think are the key characteristics of women
who set up their own businesses?

2. Which characteristics do you have?

3. What would you love to do with your life if you could
not fail?

----------------------------------------------------
To find out more and add your comments, please visit
http://www.doylemorris.com