Women-owned businesses are on the rise and they are increasingly becoming a major contributor to the economy. Women entrepreneurs are becoming more visible and successful in the business world, but there are still some distinctions between the way women and men approach business ownership. This article will explore five of the top differences between women and men entrepreneurs, in order to offer insight into how they approach business.
What Is the Difference in Career Ambition?
When it comes to career ambition, women and men often have different approaches. A survey of female entrepreneurs uncovered three main differences in career ambition. First, women tend to be less driven by ambition and more focused on how owning a business can serve their family needs and make a difference in the world. Second, female entrepreneurs are more likely to measure career success by how much meaning it brings, rather than how much money it brings. Finally, women are less likely to take risks and more likely to seek guidance from experts and mentors.
What Is the Difference in Entrepreneurial Attitude?
Female entrepreneurs often bring a different attitude to their entrepreneurial pursuits than male entrepreneurs. Women tend to be more open to using help from other approaches, such as networks of business owners, mentors, and coaches. They are often more collaborative and have a greater interest in relationships.
On the other hand, male entrepreneurs tend to be more assertive in their entrepreneurial pursuits and focus on the task at hand and their end goal. They are typically more competitive and focus less on the relationships they can build and more on the business they can build.
What Is the Difference in Networking?
When it comes to networking and professional relationships, female and male Entrepreneurs adopt opposite strategies. Male entrepreneurs tend to be more vocal about the need for networking, having a strong expectation for reciprocity and often times calling on a quid-pro-quo approach.
Female entrepreneurs, however, are often more focused on building authentic relationships and a sense of community. They are more concerned with building meaningful and lasting relationships than trying to maximize the strength of their network.
Are There Differences in Business Implementation?
Male and female entrepreneurs can have different approaches when it comes to how they implement their business. A survey of female business owners found that women tend to be more creative in problem solving, experiment more, and take a more holistic approach to entrepreneurship.
Female entrepreneurs tend to be less aggressive in business and focus more on building relationships and making sure the business can have a positive impact. They are often patient and thoughtful when it comes to decisions and often focus more on long-term rather than short-term goals.
What Is the Difference in Mentorship?
Women often have different criteria for choosing mentors than male entrepreneurs. Female entrepreneurs are often more focused on mentorship as a way to help them build meaningful relationships and learn something new. They are more likely to pick mentors based on values and shared experiences.
Male entrepreneurs, on the other hand, are more likely to seek out mentors based on their industry expertise and knowledge, with the goal of having a mentor who can help them scale their business.
The way entrepreneurs approach business ownership can differ significantly depending on gender. Women and men can have different approaches to career ambition, entrepreneurial attitude, networking, business implementation, and mentorship. Women are more likely to be focused on building relationships and making a positive impact, while men are more likely to be focused on scaling the business and taking risks.
This article provided insight into five of the top differences between women and men entrepreneurs, and hopefully it will provide entrepreneurs with information that can help them become successful in business.
