DOES GENDER DEFINE THE SUCCESS OF BUSINESS FOR YOU?

Even when women rule every genre known to the world, why still it is hard for them to play the cards by their terms?

“The question isn’t who is going to let me; it is who is going to stop me?” – Ayn Rand, Author & Philosopher

When a woman steps into the world of entrepreneurship, she faces challenges that a man never faces in the business world. In the US, 40% of businesses are owned by women. “The number of companies owned by women increased almost 31-fold between 1972 and 2018 from 4,02,000 to 12.3 million,” according to the 2018 state of women-owned businesses report. Despite the increasing numbers, women face challenges that are totally different from men. Their “gender’ describes the ability to classify as a working lady to the world.

The first and foremost challenge women face is:

Limited Funding:

In the male dominating business world, it is difficult for women to raise money to fund their businesses. “The investors are more likely to ask female entrepreneurs prevention questions, whereas male entrepreneurs are asked promotion questions,” according to the Academy of Management report. This clearly indicates that investors are more concerned about losses when a business is run by a woman. However, on the contrary, they want the men to explain their ambition action plan and how they plan to grow their business. And sadly, entrepreneurs who are asked promotion question receive easy funding.

According to The Hiscox American Courage Index, “38.7% of women entrepreneurs are focused on paying off debts, compared to 25.5% of men.” Still, surprisingly, women CEOs face the funding challenge as compared to their male counterpart.

The Creative Ordeal:

The fact is not hidden from the world that women tend to invest their time and energy into a business which is creative as compared to men. According to research, 21.6% of women CEOs stated their business being on the creative edge as compared with 6.6% of men making the same statement.

Another challenge faced by women in the male-dominated business society is keeping the numbers rolling by giving the business the creativity it needs the most. Investors do not like to invest in businesses that solely depend upon the creative crunch of the owner. Rather, they would happily invest in manufacturing companies – goods that are high in demand.

Maintaining The Work-Life Balance:

Well, this challenge is usually a woman’s problem because they are obligated to look after their family regardless of what role they play in the business world. From taking care of the children to looking after her husband – all is a woman’s job. It is the women who need to make sacrifices for their family. Also, business means a lot of traveling and when a woman is a glue to the wellness of her house and family members, it becomes difficult for them to travel without any challenge.

Confronting Social Expectations:

Networking is the soul of any enterprises and women when attending any business seminar or workshop know how hard it is to talk business with the opposite sex. Women feel more comfortable talking about the business with the same sex, however, unfortunately, a handful of women will be available to talk with, in a room filled with male entrepreneurs.

To be heard, usually, you need to act like a male: harsh, arrogant, and aggressive. But, successful women CEOs suggest the other way. “Be yourself and the world will respect you sooner or later. You always have a choice; fitting yourself as the males define you or letting the hard-work and consistency speak for you.”