Women are taking the lead in industries once dominated by men and are just as, if not more, successful. Owning their own business, managing high-profile projects, and taking on the role of an innovator, women bring something new to the table. Instead of being hesitant as we were for many years, women are thriving as entrepreneurs.
While there are without a doubt still many obstacles and challenges for female entrepreneurs, there are also great opportunities and benefits specifically for women who pursue an entrepreneurship career.
There Are More Female Entrepreneurs Than Ever
Becoming a female entrepreneur has never been more popular than it is today. A 2018 American Express report found that there were only 402,000 women-owned businesses in 1972 compared to the 12.3 million women-owned businesses in 2018. This is exceptional growth in the last few decades that shows women are being taken much more seriously. Women are starting their own business and one thing is very clear: they are good at it.
Becoming a Mentor to Other Women
Another great advantage of taking the plunge and being your own boss as a woman is the role model you become. When women see other women becoming successful and running their own business, they’re far more inclined to believe they can do it themselves. Men have always had an abundance of role models and successful entrepreneurs to look up to, but now women can have the same. Female entrepreneurs show other women that it can be done and it is indeed possible for them to run a successful business.
Leading in Emotional Intelligence
One major advantage that female entrepreneurs have over their male counterparts is that they are more likely to lead with emotional intelligence. Emotional intelligence, which is the ability to know and understand your own and other’s emotions, is a competitive advantage that is a major factor in leadership success. Studies have found that women score higher than men in nearly all capabilities of emotional intelligence. Women are better able to recognize emotions and then use the information to guide their thoughts and actions in their business ventures.
When leading with emotional intelligence, women are more likely than men to be self-aware, empathetic, and stronger listeners. These advantages make women very capable leaders.