“It is within everyone’s grasp to be a CEO.” — Martha Stewart. Women entrepreneurs very well understand the importance of startups and are aware of what they bring to the table. They know how their EQ and empathetic attitude contribute to the rise of every venture they associate themselves with. Women have assumed leadership of huge and influential companies. More women have also been elected to high office around the world, just like Kamala Harris or Ngozi Okonjo-Iweala.
#1 Women bring a better Retention Rate
Female founders as leaders are more possible to possess a high level of knowledge around financial success than their male counterparts. A study from BCG shows that female-led businesses generate 12 % higher revenues annually, and use an average of a third less capital than male-led startups. Women founders are seen to be more likely to understand things broadly while targeting markets leading to a better retention rate.
#2 Create Network Like A Pro
If we talk about the number of women in tech or entrepreneurship, it has been low for years. The number of women founders in a deep tech startup is infinitesimally small. This makes the exchange of information and networking even more difficult. Most tech meetups are dominated by male counterparts. As compared to the West, the Indian men are more reserved which makes the situation even more challenging for the women entrepreneurs
#3 Adaptable & Dynamic
Startups always work in a dynamic environment and adaptability is a key virtue for a leader. Bain & Company, Google, and AWE Foundation had researched and had a survey of 350 women solopreneurs with small business owners in urban India. It is observed that startups led by women founders are resilient and quick to adapt. They believe in analyzing a problem and finding the solution thereon. Women are also better at multitasking than men due to conditioning, which helps them focus on multiple fronts of a business rather than one.
#4 High emotional intelligence
It has been proven that leaders with high emotional intelligence are more effective in managing teams. They lead with a transformational leadership style and have empathetic nature which nurtures a positive working environment in an organization and women entrepreneurs have often been observed leading with it, which unequivocally impacts the overall growth and environment of emerging startups.
According to Bridgelabz Survey, women participants face challenges in landing tech jobs due to a lack of hands-on experience for coding (40%) and are low on confidence (33%), while these figures stood at 38% and 31% for men. It’s high time women must groom themselves, gain confidence and be ambitious enough to do enough hard work to be able to deliver.