Did you know that only 27 females are CEO's of Fortune 500 companies? Did you also know that on average, women make 79 cents for every dollar a man makes ? Although we're still far from equality in socioeconomics standing, we are advancing in other terms. According to recent statistics, women owned businesses have skyrocketed since 1997 over 115%, a report concluded by America Express (Growth Capital Corp).
My respect for women entrepreneurs started when I was a young child. I was born into a family of entrepreneurs, my grandfather started "Little Princess", the largest children's wear manufacturer in all of Canada. My father started his first business at 25 years old. My mother on the other hand, started her business at 23 years old, with $5,000 of savings and turned it into an overnight success story. I was always amazed at how my mother did it, working all day on the business, and coming home to take care of my twin sister and I. She would hardly sleep, working all day and night.
Women are multitalented so its no surprise as to why they make better entrepreneurs. They can juggle multiple things at once. Here are several reasons why I believe women make better entrepreneurs:
1. Time management skills
Becoming a mother is a great vehicle for success in business. When you're tending to children, you have limited time to waste and every minute is valuable. Therefor you learn time management skills and how to delegate to get the job done.
2. Trust their instincts
You have to trust your instincts as a mother, and know how to enforce discipline. A skill that is required in business.
3. More Prepared
You always have to prepare in advance, which is crucial in business. You have to prepare your week ahead of time which puts you ahead of others.
4. Avid risk takers
According to research, 87% of women have said to be financial risk takers, compared to 73% of men. Equally, 80% of women said that they see opportunity compared to 67% of men.
5. Building interpersonal relationships
Women are better at developing interpersonal relationships. They often value a connection and a bond with their suppliers and vendors. Throughout my 28 years watching my family own and operate multiple businesses, women simply have a different demeanour when dealing with things. They often see employees and vendors as people, before a profit. Although they can be stern and direct at times, they are open to listening to others opinions and seem to be more open minded.
Young women of the world keep climbing the corporate ladder, and keep on breaking down barriers and challenging the status quo. My advice to you ladies is to continue taking risks, keep pushing for chance because 79 cents to the dollar in 2018 is completely unacceptable.