Women comprise about 30 percent of corporate senior management positions, which is notably higher than the global average (24 percent). New research reveals that women entrepeneurs are less like to fail when setting up a business than men.
Women are more ambitious in business, with 50 per cent of women keen to start another business in the next three years, compared to less than 20 per cent of men.
So why are women doing better in business than their male counterparts? Here are reasons that answers this question,
1. Women are better calculated risk takers
87% Women entrepreneurs see themselves as financial risk takers, compared to 73% of men, while 80% of women say they are likely to see opportunities where others see risk, compared to 67% of men. Moreover, while these female entrepreneurs are embracing risk, they’re also more likely to be tempering their business approach with a realistic assessment of the dangers ahead.
2. Women tend to be more honest about the business
Women open up, they talk about their fears, they are not afraid of sharing their failings because they have less ego attached to the success or failure of the business and they want to address issues not ignore them. In short women are more open and honest about what is going on–and that makes it easier for others to help.
3. Women are more likely to take the long-term view
Men and women have different views about the type of growth they should go for – the research suggests women are more likely to reinvest business profit in order to generate steady and profitable growth, while men are more likely to look for faster growth, possibly fuelled by equity investment, and a quicker exit.
4. Women are less prone to over-confidence
Fewer women go into business with dreams of building an empire. Women consider their business a success if they can be their own boss and replace their former job income.But they never get into over confidence .
5. Startups with more female executives, there is a higher success-to-failure rate
Companies with 1-2 female executives have close to a 50/50 failure/success rate, with failures exceeding successes by 5-10 percent. But in the smaller samples of companies with 4-5 female executives, the succeeding companies outnumber failing companies by between 20 and 50 percent.
6. Women appreciate the value of creativity
We live in a world where creativity is a very important commodity. We need to be creative in every aspect of running a business and I think that any business that has a creativity shortage will find it very hard to survive in the coming years. Women tend to be more open minded, in touch with the creative aspects of life and they see value in creativity.
7. Indian women value relationships and well being more than the business
Generally women will always put the health and well being of their spouse and family as their main priority. If they have to choose between the business and the family, the family will always win. For many men for a very long time, the idea is to put the business first and build something that would support the family down the line. Sadly, all too often, by the time the business is financially successful the family have moved on because they got sick of being ignored.