Women Entrepreneurs Better At Seeking Advice
- May 15, 2015
- Women in Business
Women small business owners are more realistic about their situation, and reach out for advice and help to grow, sooner than men in the same position.
2014 data on business startups and people becoming self-employed show men are 63% of new small business owners, while women account for 37%. Historically, men have started businesses in higher percentage than women after being fired or laid off.
Women and men see equal number of opportunities, but a survey by the Global Entrepreneurship Monitor showed 34% of women are scared of failure before starting, compared to 25.6% of men surveyed. Women are more realistic about their own abilities, which turns out to be a great asset in a start-up setting.
Start-up success is not tied to the business idea, but the ability of a team to execute the idea. It is not a single heroic journey, but a group effort with a continually growing leader.
Once new business is started, women are more likely to ask for expert advice on areas of business that might be new to someone previously employed by a company.
Women are better at recognizing what they know and don’t know in business, then go on to learn all the skills needed to be successful. This may include hiring experts to advise and coach them on current and future business issues.