Female Entrepreneurship: How we do business differently
The female brain is inherently different from that of the male. It’s true that while we are equal, we are different in our biological makeup. This can lead us to assess challenges and approach solutions differently, which applies also in a professional sphere. Centuries of social conditioning and set ‘gender roles’ have affected the way women are perceived in a business setting. While gender diversity in the workplace is on the rise, we believe it’s important to explore the differences in how we do business compared to our male counterparts.
Let’s start by considering the word ‘entrepreneur’. It originates from the French word ‘entreprendre’, meaning to undertake. Soon after the words’ conception, the French described an entrepreneur as an individual who possessed particular personality traits that allowed them to produce more. An entrepreneur’s personality and being are in part what allows them to identify opportunities and capitalize on them.
A part of every being is their gender, or how they define their gender. Naturally, this would encourage the way we undertake situations and the way we behave like an entrepreneur. While there are commonalities between the two, we understand that women do business differently. Research has shown the most varied behavior in the areas of financing, motivations, decision-making, risk tolerance, and management styles.
One study resulted in these conclusions:
Decision Making Easy
Difficulty in Making Decisions
Business focused on Economy and Cost
Business focused on Making Social Contribution and Quality
Willing to take Financial Risk
More Conservative when it comes to Financial Risk
Task Orientated Managers
Focus on Good Relationships with Employees
Business Manufacturing and Construction
Business Small Retail and Service Orientiation
Biological and social differences allow each gender to display a slightly varied set of skills. In running a business, men seem to be logical thinkers and women are perhaps more in tune with their themselves and their surrounding, they often speak of following a ‘gut feeling’, resulting in the female sex to be more intuitive thinkers. A woman’s instinct lends itself to a more communicative and empathetic approach to business. A woman exemplifies more expressive communication skills, allowing them to better understand the needs of their employees. They also are more cautious about taking risks. Men often take a more aggressive approach to growth and expansion and are more willing to follow with finances.
As women, we assume so many responsibilities in our lives. Whether we are homemakers, professionals, both or something in between. This means we often have to juggle multiple roles all at once.
At Vitality, we understand that all these seemingly separate parts of you when brought together, are YOU. We truly believe that in order for a business to reach its optimum, the woman leading that business must be unapologetically themselves and play to their strengths. Our goal is to help female-led businesses achieve their fullest potential and maximize long-term success.
That’s the reason Vitality has come to life. We are the region’s first and only female-focused business accelerator. We strive to provide an open and innovative framework that facilitates the success of women in the business community.