Cayenne Consulting

Women are Taking the Lead as Entrepreneurs

Women are Taking the Lead as Entrepreneurs

I often get asked the age-old question (by men) of “Who are the best entrepreneurs, men or women?” Women already believe they know the answer, so they never ask. I always try the diplomatic answer of “It depends”, but that doesn’t satisfy anybody.

First, here are a few facts to set the stage. According to the Center for Women’s Business Research, only one in five firms with revenue of $1 million or more is woman-owned, but the number of female-owned firms is growing twice as fast as all businesses. Overall, female-run businesses still grow slower, so create fewer jobs.

You can find lots of research facts on this subject, with much hedging on meaning. A Small Business Association research study a while back is typical in concluding that gender is not a factor in new venture performance.

Yet this study and others identify significant differences between the sexes in the approach and rationale for running ventures:

From these few highlights, it’s obvious that men and women do speak different languages, and neither is all right or all wrong. As I contemplate the differences listed above, it seems that in fact they are complementary – yin and yang – like masculine and feminine, rather than right or wrong. Societal trends actually seem to be favoring the women these days.

The best implication is that entrepreneurs of either sex would do well to find a business partner on the other side, capitalizing on the other dimension, rather than engage in a battle of the sexes. That way we all win. Wars are no fun for either side.

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