Eight Reasons Why Women Make Stellar Entrepreneurs and Leaders in Tech
It’s no surprise that female CEOs in tech are underrepresented; however, this statistic is changing rapidly. In a recent American Express OPEN State of Women-Owned Businesses report found that between 1997
and 2011, the number of businesses in the US increased by 34%, but the number of women-owned firms increased by 50%; Compared to a growth rate of just 25% for male-owned firms and has allowed businesses owned by females to reach 49% of US firms.
Women posses many of the skills crucial to launching, managing and growing a successful start-up. While living and working in Silicon Valley, I met some of these stellar leaders (some of whom have become my mentors) and along with a deep-rooted moral compass, I noticed that each woman followed some or all of the following eight traits, which has helped them build a successful culture and business.
- Women possess strong communication skills
Prioritizing communications channels within a start-up is very important. Women are not only managing, delegating and communicating various operational aspects of the business, they are also managing many different types of personalities. Women make great managers because they are able to communicate corporate objectives effectively while balancing and nurturing relationships and people through consistent contact, effective communication and training. Also, “communications” is important when serving as the face of a company. It is crucial for a leader to articulately and effectively convey the message of her product or service in order to brand it appropriately.
- Women are “Super Connectors”
Women understand that cultivating a solid rolodex is key to running a successful company and career. It is important to take time to nurture relationships to help with recruitment, sales and business development efforts. Also, it’s also beneficial to pay it forward and share resources, because those contacts may have someone to connect you to later down the road.
- Women believe in mentorship
Mentorship is a key asset that leaders often times forget about. If a leader takes the time to teach and advise more junior employees on the various moving parts of building a business, then employees will feel that they are valuable assets to the company and will believe that the leadership is committed and invested to watching them grow within the company and in turn the mentor learns more about their employees – their intentions, interests and skills, which they will bring to the company.
- Women are strong multitaskers
From the beginning of time, women have had to learn how to multitask activities. From gathering food, to bearing children, to building a home, women are responsible for managing the business of “family”. Now, women are building successful businesses and leading high-profile executive jobs so they not only have to manage the business of building a family, they are also juggling their professional lives. The roles and responsibilities have grown significantly, however, women have found a way to do it and do it successfully through detailed management systems, delegating, empowerment and prioritization.
- Women understand that success comes from blood, sweat and tears
Women are used to living in the stereotypical “man’s world” and have had to deal with confronting the glass ceiling in the workplace. They are used to working twice as hard for less pay, and some times a decreased amount of respect. Women understand that it’s important to role up your sleeves and dive into building something big – without distractions and a lot of blood, sweat and tears.
- Women appreciate “Ying Yang”
Employers as well as employees are happier and more productive people when there is a work culture that supports a balanced lifestyle. This trait is commonplace in female-owned companies. Women are used to juggling activities within their personal and professional lives; as such can appreciate that their employees enjoy achieving this balance. Additionally, women feel that idea generation and creativity often times comes out of social discovery and partaking in extracurricular activities and living a flexible life.
- Women check their egos at the door
Women tend to check their egos at the door. They aren’t too proud to ask questions of colleagues, board members or their peers. Women are collaborators and like to bring on a team of experts because it is understood that one person cannot know everything about launching a successful company. Also, the majority of female leaders or executives tend to have a “personal advisory board,” which, essentially is a group of trusted professionals who can help with issues or questions revolving around fundraising, recruiting, corporate strategy, etc.
- Female-owned companies tend to offer superior benefit packages
Typically, there is a very low turnover rate in female-owned companies, because they focus on a work culture that promotes work/life balance, flexible schedules for working parents and women on maternity leave. There is also a significant emphasis on employee benefits such as health and dental care, flextime, and telecommuting. When the employees and their families come first, they are usually happier and more productive in the workplace. This nurturing quality is something that women excel at and continue to leverage as part of building a successful business.
This article was originally published in Chinnovate. Chinnovate is the number one online magazine for Chinese business, news and innovation.
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