Take a look at these statistics:
- Of all U.S. enterprises that exist, over 40% are women-owned
- The United States Census Bureau predicts that by the year 2025, the percentage of women-owned business will increase to over 55%.
- Studies show that successful women entrepreneurs start their businesses as a second or even third profession.
And, according to www.inc.com:
1. Women start companies at 1.5 times the average rate in the United States.
2. The absolute number of startups in Crunchbase with at least one female founder has more than quadrupled in the last five years, from 117 in 2009 to 555 in 2014.
3. Women entrepreneurs in the United States rank their happiness at nearly three times that of women who are not entrepreneurs or established business owners.
4. The U.S. ranks No. 1 among 31 countries considered by Dell on the support of women's entrepreneurship.
5. Today, 18 percent of all startups have at least one female founder.
6. There are just over 9 million women-owned companies in the United States.
This makes me so proud and happy to be a woman and especially a female entrepreneur. These are strong numbers and prove women are successful owners in the business world. Also, these numbers have a lot of room for growth.
So this got me thinking…what makes women good at business ownership and what holds us back? And are they related?
My three reasons why women make excellent entrepreneurs and creators (and what holds us back):
1Yay! We want to help people.
We are overwhelmingly motivated by the desire to help others. This passion for service is the top reason we are successful. We truly care about and love who we are serving. Whether it’s in a product-based business, a service industry or more corporate structure, we want to see everybody win. We’re not just in it for our own gain. We are born creators, nurturers and leaders. It's where we shine.
1Nay. We want to help people — so much so that in can get in the way of the actual making money part of owning and running a business. We’ll do anything for anyone just to make ourselves be seen and raise our hands when anybody needs anything. We want to please everyone so much and our desire to be liked can be so strong, that we run our business into the ground before it even becomes a viable business. There are many women running expensive hobbies. There's nothing wrong with this. Unless you need to make money and want a profitable business.
2Yay! We are able to juggle.
We are built to multi-task. The famous image of the woman in the business suit, holding a baby, phone tucked between her shoulder and ear, cooking something on the stove. We CAN do all the things. And we can do them well. We have infinite capabilities and talents. We can allow many things to exist at once and hold them all together. Sometimes with grace and sometimes with a thread, but together nonetheless.
2Nay. Just because we are ABLE to juggle, doesn’t mean it’s the right thing to do. Just because we can do all the pieces necessary in our business, doesn’t mean that’s the most lucrative or efficient way to run the business. At some point, we need to let go of some control and get support. Maybe in the business, or at home, or both. This can be hiring help or asking for support from friends and family. Having the capacity to hold so many things at once can also lead to massive overwhelm, burnout, frustration, stress and a lack of focus.
3Yay! We are passionate about our cause/effort/product/idea/service.
When a woman is truly holding her passion and expressing it in the world, and the world is taking notice…watch out. If we say, hey I’ve got this idea or I’m doing this thing, and we get a positive response, we will move heaven and earth to help and serve more people. Our passion is one of our greatest gifts. When we are ignited, we thrive. And this will give us focus.
3Nay. We get so passionate we will give it all away. And then we don’t have a business. We say we don’t like selling and asking for money. And making money is, like it or not, how businesses stay afloat and how our culture currently operates. We need money to do things. To buy food. To live somewhere. And sales is what makes any business successful. Every business is a sales business. If we want to be successful and make money to take care of our families and take care of ourselves, we have to sell our passion.
And when our ignited passion is in alignment with our desire to help and our ability to juggle, and we turn our Nays into Yays, there's no stopping us.