Women’s Competitive Edge Over Their Male Counterparts
There are a variety of factors that have led to the rise of women entrepreneurs: some societal, some technological, some the result of women’s natural tendencies.
All these contributing factors have converged in a period of time that has created opportunity for women like no other point in history.
The Changing Face of the Family
“Sometimes you can gradually improve things. But sometimes, they don’t work, and you’ve just got to just say: Let’s grind this baby to a halt.” — Abigail Johnson, Fidelity Investments
The face of the family is undergoing changes on several levels.
Recent economic upheavals have resulted in what some experts have termed a ‘man-cession’, putting men out of work in large numbers across all socio-economic boundaries. As a result, women who may have previously left the workforce to care for growing families are being forced to find ways to supplement (or supplant) the family income.
Additionally, women within the workplace are becoming frustrated with corporate policies that have been less than family friendly. Women are searching for avenues of work that allow them to meet their needs for childcare and scheduling flexibility. A failure to find these opportunities has ushered in an era of female leaders who are entering the world of entrepreneurship.
Tired of trying to work within the system, women have come to realize that they no longer need to wait for someone else to create opportunities; they can take the reins and change the course of their lives on the strength of their own ambition and initiative.
The Growing Reliance on Technology
“Good leaders organize and align people around what the team needs to do. Great leaders motivate and inspire people with why they’re doing it. That’s purpose. And that’s the key to achieving something truly transformational.” — Marillyn Hewson, Lockheed Martin
Increasing dependence on technology has created a digital age that gives women business owners opportunities previously not available. Cloud-based programs, mobile technology, virtual networking and other technological advances have provided the leverage women need to take control of both their schedule and their workplace.
Harnessing the power of the internet not only gives women the tools they need to become entrepreneurs, it gives them the tools to equip the people within their organization to accomplish the company’s goals.
The Essential Skills Women Possess
“Presenting leadership as a list of carefully defined qualities no longer holds. Instead, true leadership stems from individuality that is honestly and sometimes imperfectly expressed… Leaders should strive for authenticity over perfection.” — Sheryl Sandberg, COO Facebook
Women have a unique collection of skills and capabilities that help to create female leaders that move beyond the status quo of leadership.
Without feeling the need to portray a business-esque persona, women business owners can be their authentic selves and establish their company based on their own ideals and standards.
Social Intelligence
“We treat our people like royalty. If you honor and serve the people who work for you, they will honor and serve you.” — Mary Kay Ash, Mary Kay
Men and women relate differently. While this is no secret, it may be a surprise that, because of the differences in how men and women communicate, female business leaders are actually more effective in the areas of social intelligence.
The ability read people’s faces, gauge their reaction and feelings to situations and then base their communication on these signals is a skill-set where women thrive.
Relationship Building
“What I have learned is that people become motivated when you guide them to the source of their own power and when you make heroes out of employees who personify what you want to see in the organization.” — Anita Roddick
There are no ‘secret skills’ that women business leaders possess that give them an edge over men in the area of entrepreneurship. The difference, however, is the tendency that women have to be more relational in their interpersonal dealings. This characteristic consistently gives women more success than men in creating prosperous companies.
What does relationship building look like under the leading of a female business leader?
- Teams within the company are more like family than co-workers.
- Clients, vendors and suppliers are cultivated through relationship building, forming stronger loyalty ties.
- Women owned businesses are more involved in community building and social activities.
- Communication is easier and more frequent.
Business Savvy
“A leader takes people where they want to go. A great leader takes people where they don’t necessarily want to go, but ought to be.” — Rosalynn Carter, former First Lady
Women business owners are more likely to collaborate well with others within their business structure. The process of creating and working within a team is vital to the success of any business, and women intuitively seem to do this better than their male counterparts. As a result, companies led by women tend to be more customer-centric than male led companies.
When it comes to implementing system controls, women are much more open to the needs of the company. Rather than disdaining the use of outside sources, women are quicker to utilize controls and systems within their company.
Running a business requires a balance of personal and professional responsibilities. Maintaining that balance is another area where women shine. Women thrive in complexity – they are highly motivated to succeed and can find ways to balance the many aspects of their lives.
Motivational Strength
“Well-behaved women seldom make history.” – Laurel Thatcher Ulrich
Through their ability to collaborate well and establish relationships with their customers, women are experts in activating passion in those around them. This not only works to drive customer engagement, it builds loyalty in both employees and customers.
For the woman entrepreneur, there has never been a better time to start a business. The use of technology, natural skill set, and business opportunities have created a perfect environment to step out into the world of leadership. Women have historically risen to the challenges presented, and taking on the role of female business leader is no exception.
Quotes sources: Entrepreneur and Quote Investigator
