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As the male dominated single income household is quickly diminishing, women are impacting the business world in record numbers. Women are building their own business empires and rising up the executive ranks with vengeance. In 2010 women became the majority of the workforce for the first time in history. Women have emerged as key drivers in new business creation.
According to the U.S. Chamber of Commerce, over the last 17 years, women-owned businesses have increased dramatically. According to the State-Owned Business Report, commissioned by American Express, the rate of increase is a staggering 68% since 1997, with more than 9.1 million women-owned businesses operating in 2014, up from 8.6 million in 2013. This surging-growth pace, which has doubled in three years, has helped to generate nearly $1.5 trillion in revenues for women-owned businesses.
The American Express State of Women-Owned Businesses Report, shows that women are starting 1,200 businesses a day.
Did you know that businesses with women entrepreneurs perform as well as or better than those led by men. According to Babson, businesses with a woman on the executive team are more likely to have higher valuations at both first and last funding (64 percent higher and 49 percent higher, respectively).
And did you also know that women are partners in 45.7% of businesses, and women-owned firms account for nearly 30% of all new businesses.
Guardian Life projects that female owned businesses could create 5 million to 5.5 million new jobs across the United States by 2018 and that women account for half of all new businesses, generating 1/3 of the new jobs created according to the Bureau of Labor Statistics.
Dig into Women Owned Businesses — Carving a New American Business Landscape — chock full of female entrepreneur facts & figures, resources, etc.
The Anatomy of a Successful Female Entrepreneur
According to the Kauffman Foundation "Women are increasingly integral to entrepreneurship and innovation — the lynchpins of individual economic independence and dynamic economic growth. The future of American growth is in the hands of women."
So what are the primary financial & psychological factors motivating women to become entrepreneurs? Drivers have been things like childhood experiences that encouraged entrepreneurship, as well as the desire to pursue an idea, the potential for greater financial gain & independence, a strong desire to live on one’s own terms, and to navigate business success.
A successful female entrepreneur:
Is passionate about what she does
Knows her strengths & weaknesses
Steps outside of her comfort zone
Sets high goals
Is financially savvy; sets budgets & a long term capital strategy for the business
Treats time and energy as scarce resources
Is Humble and willing to learn
Is able to handle criticism
Creates a culture of success; build an infrastructure that reflects your values
Networks; joins more networks and a greater variety of networks
Has a great personal support network
Is an active listener
Is an extraordinary communicator
Has a strong sense of purpose
Differentiates herself from the pack
Won’t compromise integrity for money
Defines success on her own terms
Effectively balances family and business responsibilities
Invests both money and time in her intellectual, physical, and spiritual well-being
Channel the Energy, Socialize, Read, Follow…CONNECT
Knowledge is wisdom. Finding the right resources is key. Networking is paramount. Supporting, Promoting, Contributing to Women is crucial. We can never have too many channels to promote our business, right? Well, we've collected a few of our favorites that encompass all of these key qualities.
The Next Women — The Next Women is a community of Investors, Entrepreneurs & Advisers who build formats to support the growth of female entrepreneurs; from startups to companies making millions
Forbes Women — Highlights Women in the News, Successes, Tips
Women 2.0 — is the world’s largest community-driven media brand designed for the next generation of technology leaders. Women 2.0 creates content, community & events for aspiring ¤t innovators in technology
With 94.5 million Twitter followers She Owns It provides an incredible channel to promote your business through editorial contribution
Women's Leadership Exchange — is a social entrepreneurship organization founded by and for successful businesswomen
Great Advice — 14 Ways to be a Great Start-Up CEO
Proof that #WomenWOW
If there’s a need in everyday tasks, the world or life, a woman will seek to discover a unique answer to that need, and fill the hole the market never knew existed.
"Great companies start because the founders want to change the world... not make a fast buck" ~ Guy Kawasaki ~
Women know NO boundaries, even when it comes to saving a major environment.
#WomenWOW at any age! Read the entire article at Fortune Magazine
December 3rd is the Official Launch of #WomenWOW
Join the Kenneth Cole, Mariska Hargitay& Michael Stars in celebrating & supporting #WomenWOW — Support Women Wednesday — A Movement to Celebrate, Empower & Support Women-Owned Businesses and Causes.
To Celebrate the Kick-Off of #WomenWOW, Techwuli is offering an exclusive "Get Started" Promotion for F'entrepreneurs.
The bottom line: If you have the anatomy of a successful female entrepreneur; the facts are pointing you to a whole wide world that is ready, willing and able to embrace your business venture.
Techwuli is here to help you get started with your business, marketing & technology needs!
Contact Techwuli Today for a Free Consultation!