4 Reasons Why Women CEOs Are the Future of Business
Doing a business is not easy. It requires commitment, focus, tremendous amounts of patience and an unambiguous long-term plan. Most businesses make the mistake of devising short-term plans and business goals.
The real rewards and revenues of business only start surfacing after 7 to 8 years of its existence. This brings me back to where we begun, that business is no child’s play. A majority of the businesses in the world are owned or led by men. But we do see a large number of women entering the start-up arena, leading multinationals and doing exceptionally well. There are clear reasons behind this. You may be surprised to know that few researches have indicated that women actually take to business, like a moth to a flame and do better than men when it comes to running or leading a business.
In this post we talk about the role of the woman in business and why they are the future of all successful businesses.
1. Excellent Communication Skills
Most women attribute a lot of importance to words and body language. This automatically makes them powerful communicators. Communication today is the building block for any successful business or enterprise. This innate love of communicating and sharing in contrast to men’s tendencies of not sharing or not communication puts them in a better position as leaders.
Women also are better listeners. This helps them understand both their employees as well as their clients better. Consequently, they are able to deliver better what each group needs, anticipate problems and nip them at the bud.
They are conversation oriented and discuss issues thoroughly before coming to a conclusion. This supports the business positively as everybody’s opinion is heard, an attempt is made to reach a favorable consensus and then it is followed by action. Another great aspect about communication skills of a woman is her innate ability to take initiative, and drive projects through to the end while constantly engaging in positive communication.
2. Highly Result Driven
A wise man once said that if you don’t have any competition in your business, after two to three years, it is time to take a good hard look at it. Women are like this wise man. They thrive on competition and results. If not others, they are competing against themselves, trying to better and outrun their last accomplishment.
This is good news for the business. This what makes them powerful and infallible leaders. They do not give up easily, they fight hard, compete with a purpose and constantly work hard, and push others too, to achieve the desired results. What also facilitates their result-driven attitude is their patience.
Women take calculated risks and often believe in the policy of growing slowly but steadily. They give time to the business to reach its break-even point and yield. When it comes to loans too they pick the ones that will not thwart the business, will be easy to pay back, and help sustain the business profitably. Whether it is line-of-credit loans, installment loans or interim loans, women entrepreneurs think consciously and effectively before applying for a loan.
This is also the reason why we see financial firms process bankruptcy personal loans more easily to women. With logical thinking prowess and being highly result driven, they too understand that in spite of a company or individual bankruptcy, a motivated woman with good leadership skills can start from scratch and build a strong business.
3. Elevated Emotional Capacity
Women are more intuitive, and possess more empathy than men. Because of their elevated emotional capacities, they often become mentors and leaders with a lot of support and following. A woman usually does not make an alpha leader (aggressive and authoritarian), who just gives orders and directs action.
She has a more connected and empathetic form of leadership. When the subordinates see these qualities and relevant actions in a leader, the loyalty increases manifold, and the team becomes stronger. This further helps the business.
As they have high emotional understanding, they also understand the importance of fairness and justice. Women CEO’s and business owners often put themselves in their employees’ shoes and perceive the situation. This also gives them high grounds of morality. Both clients and employees restore faith in such a person and prefer to work with a person with ethics.
The greatest advantage that women CEOs enjoy, due to their emotional understanding and powerful communication skills is the ability to invoke passion in the employees and motivate them to perform better.
4. Logical Thinking and Decision Making
Long-term planning is important for any business. Women by nature are long-term planners. This is especially favorable for a business. The biggest mistake a business owner or CEO can make is to think short term. When women CEOs or business owners draft their long term plans, they also anticipate the problems that may crop up, weigh every choice and alternative before them thoroughly before deciding on one, and always keep up a back-up or cushion element to fall back on in case something goes wrong.
Well some naysayers may say that women have no risk appetite. But that is hardly true. They do take calculated risks, that leads to long term growth of the business and does not shake the foundation of the business. Women owners and CEOs also tend to have a more holistic approach to the business. They remain informed about most aspects of business, and can multitask seamlessly. This knowledge enables them to think clearly and rationally and take logical decisions regarding the business.
So as we stated in the beginning, when a woman talks business, she really means it. They have definitely made their foray into the business world, and are making strong impressions. The coming years will only see them more entrenched in the business world and inspiring and leading from the front.
Ann Neal is a writer with a keen in finance, fashion and lifestyle topics. She is passionate about music and loves to play guitar in her free time. She also enjoys spending time with her family and friends.
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