The Characteristic of Successful Woman Entrepreneurs

Translated by: Behrouz Khorram

All around the world, women play big roles in the national economy of their countries. In the developed countries, the low birth rate, along with the aging of the population, has alarmed the governments about the necessity of the women’s participation in the economic sectors because they constitute about half of the population, and exclusion of from working and economic activities will cause serious harms to the economy. In this respect, with the revision of the labor laws and the establishment of workshops and the financing of the entrepreneurs, the governments have tried to help them enter the workforce. Characteristics of the successful woman entrepreneurs are mentioned as follows:

1) Positive attitude: A positive attitude is a major factor in turning the ideas into practical programs and putting them into action. With a positive attitude, the ground for invention and solution will be provided and that will lead to the flow of energies. Entrepreneurship is a difficult task, and if negative attitudes dominate the mind, the endeavors will come to a stop at the instance of facing the first obstacles. Keep your mind under supervision, and don’t allow for the negative thoughts to weaken your morale. Being realistic is necessary; however, observing the obstacles is far different with having a negative attitude.

2) Overcoming the obstacles: Studies show that about 70 percent of the newly established companies of the United States are dissolved within the first 3 years of their activity. However, the rate of the bankrupt companies that are founded by the women is lower than average. The women can turn the threats into opportunities for the company. The woman entrepreneurs must learn to take a lesson from every problem that shows up. Gradually, they will realize that the problems are not as big as they have imagined.

3) High self-confidence: Being powerful and self-confident do not mean being aggressive and bold. On the contrary, self-confidence and power mean creativity and moving in the right path. When the individual has a positive image from herself and is responsible she has a stronger sense of entrepreneurship, and the others will cooperate with her in a more confident and sure manner. Statistics show that among the men and women entrepreneurs, about 45 and 51 percent possess this characteristic respectively.

4) The sense of being helpful to others: Studies show that women have a higher capability to become influential on others by being helpful to them. A hopefulness to make a positive change in the lives of others is one of the most important characteristics of the entrepreneur women, and it is counted an important factor in their economic activities. Polls show that among different motives such as a high income, the demonstration of capabilities, making use of university degrees, etc. the sense of being helpful to others and making a positive change in the lives of others are the most important factors for the women entrepreneurs.

5) Honesty: For sure in order to be successful you do not need any aggression. There is no need to step on others in order to reach high. Negative sense of competitiveness is more common in men rather than women. Observing the laws and avoiding unjust measures against others are common among entrepreneur women in Asia. This factor arouses the sense of trust on others for everyone like to work with trustful and honest people.

6) Balancing between life and work: Although women are usually responsible for their private and family lives, those who can balance life and work tend to be more successful. A balanced life helps the mind for creative ideas. In the progressed member countries of the Organization for Development and Cooperation the statistics show that the entrepreneur women who have family responsibilities are more successful. This factor is the characteristic of the women because they are more influential on their families than men.

7) Goal-directedness: the goals are the dreams that are supplemented by clear practical programming. If the goals are not written down they remain dreams and wishes. The researches show that the women who have clear and detailed programs tend to be more successful. This applies for both the woman and man entrepreneurs; however, because the women have family responsibilities, having programs helps them to make a good balance between life and work.

8) Precision: The detection of vacuums in the market to be filled with entrepreneurship is a strategic task in every program. The discovery of the unfulfilled needs is the key to successful production. The women, due to their watchfulness and high precision, are more capable than men in recognizing those needs. On the other hand, the statistics show that almost in all countries women’s average of economic knowledge is higher than men’s. Therefore they have a clearer view of the needs of the markets, and their productions may meet the needs of the  market.

9) Training: Most entrepreneur women transfer their working knowledge to their successors, and a form of the transference of the experiences is visible in the company they found, that which is far greater than what takes place in the companies founded by men.  This characteristic also leads to their ability to take advantage of the experience of others, as well.

10) Long-term vision: The highest resistance often takes place before a failure. Cautiousness and forethought are among the special characteristics of the woman entrepreneurs. Because of the long-term vision of the women in facing the problems their resistance against failure is higher in them. However, cautiousness does not make obstacles for the successful women to take the next step. Although throughout the world the number of woman entrepreneurs is lower than the men’s, but all things being equal their success rate is higher.

Although in most countries the labor laws are still not suitable for the women’s presence in the work scene, and there is not sufficient confidence in their entrepreneurship; however, the amount of their growth in this field is being increased. Among the 500 most successful companies in the U.S., only 10 of their managers are women. In the small businesses and medium size companies, the presence of the women in high ranks of management and ownership is evident. 

Adapted from Sarmayeh newspaper