Introduction
Every year in August we celebrate women and acknowledge the importance of the contribution they make within our society. Although the contribution of women is recognised and widely celebrated, it is concerning to witness how greatly marginalized women are in the business environment. I often ask myself; how is it that many years of educating women and efforts that have been made in integrating women in the business environment, we still have only 34% of businesses in South Africa owned by women entrepreneurs (this according to a survey conducted by Facebook in partnership with the World Bank and OECD)?
There is so much that women entrepreneurs bring to the business environment that is valuable and can benefit society as a whole. However, we still face challenges as we are not always taken seriously, particularly in industries that are male dominated.
So why do so many women battle to gain ground and grow in male-dominated industries?
- Businesses are built on having strong networks and when women enter a male-dominated industry, they generally find that the men in that industry have formed strong relationships and networks, and it is hard to break into those already established networks especially when one is new to the market.
- It is necessary for one to have the right contacts in order to navigate the requirements of an industry; so, when a woman enters into an industry, they could find it hard to infiltrate those established networks that may be key to the progress of their business.
- I believe one of biggest problems is us, because of our preconditioning when we start businesses, we automatically place barriers for ourselves by making assumptions that it will be difficult for us to grow within those industries. When we do this, it holds us back from operating at our full potential.
These are just some of the aspects that women have to deal with when operating in industries that are male dominated. However, there are characteristics that truly set us about from men and these character traits need to be embraced for us to show up authentically and to operate in our areas of excellence.
Characteristics of women entrepreneurs:
Having worked with many women throughout my career as an entrepreneur development consultant and business mentor. I have noticed very similar traits that most women entrepreneurs possess and some aspects of business that they do differently from other male business owners that I’ve interacted with.
The firstly, the nurturing nature of women plays a big role in how they do business. Women are generally nurturing; therefore, this results in them caring about more than just financial growth and profitability. The majority want to grow their businesses beyond themselves and see others grow along-side them. This could be their staff members, suppliers or even other small businesses around them. Through women entrepreneurs we can achieve greater impact on society as a whole.
Secondly, the unique ability to multitask is a trait that many women possess. We see many successful women being able to juggle building their business, raising children, building a family and still playing an active part in their communities. This makes women exceptional entrepreneurs because they do not focus on just one role, they are able to manage the responsibilities of all their roles.
During the COVID-19 pandemic, we have seen a lot of women in business having to work from home, looking after their families while still getting their businesses to stay afloat during this difficult period. I myself had a funny encounter recently, my 3-year-old son was hanging on my back while I was frantically trying to complete a report; my husband walked in the room and couldn’t understand how I could continue working unbothered whilst my son was on my back. I turned to him and said ‘’we as women find it very easy to multitask’’.
Thirdly women are resilient, despite the prejudice, barriers and challenges faced in the business and sometimes personal environment there is still a desire to grow, learn and help others around them to do the same. This resilience is not necessarily unique to women only; however, it is a trait that keeps many women going despite the inherent challenges of being a woman in business.
Although there are positive traits of women in entrepreneurship, this is sometimes accompanied by weaknesses that are not helpful to the growth of women in business. There are similar characteristics that hold back many women from achieving their full potential in business.
- Firstly, is the imposter syndrome; this is defined by the Harvard Business Review, 2008 as the collection of feelings of inadequacy that persist despite evident success. It is thoughts and feelings of doubt in one’s capability and being afraid that others will question and doubt your capabilities. This is prominent in the many women entrepreneurs that I’ve met and worked with. If you are struggling with this, I suggest you practice the following: Learn to separate facts and you're feeling. Feelings can be highly deceiving and if you had to act on what you are feeling you will struggle to achieve your goals.
- Start by reviewing your thoughts and what you are doubting about yourself, ask yourself whether it is indeed a fact or whether it is a feeling generated by your fear. For instance, you can a call from a potential client that you have been wanting to meet for months. They finally tell you they are ready to meet with you and are interested in your product. If you suffer from imposter syndrome you will start doubting yourself, feel like perhaps the potential client has made a mistake and that you are not deserving of that business. In this case, start by asking yourself if it is factual that you are not deserving of the business. Once you have answered yourself, move to another thought until you eliminate all self-doubting thoughts. Through this exercise you will realize that the majority of your thoughts are not factual and that indeed you are capable.
- Secondly, women entrepreneurs tend to be extremely modest even in situations that do not require it. Its important to be comfortable with sharing your achievements, your strengths and openly talk about what makes you great at what you do. This will enhance the possibility of gaining presence within your market.
- Thirdly, I see a lot of confident women struggle to display this confidence when they are in certain environments in business. At times, women hold back from sharing their views and insights in spaces where they feel dominated. We must learn to be confident in ourselves, what we know and what we bring to the table without doubting our abilities. This can be achieved if we stop comparing ourselves with our fellow male entrepreneurs and we focus on our unique strengths, traits, and overall contributions. Being confident is not about having everything figured out or even knowing everything about the business you are in; it's about focusing on your unique contribution and being confident in that.
For us to overcome challenges as women entrepreneurs, we should take into consideration the following:
Women need to harness their femininity and appreciate the uniqueness they bring to the business world. In some cases, women try to act like men in order to make their presence felt and stand their ground. This is not necessary; the most effective way of claiming one’s presence is by ensuring you are yourself by finding ways of making your presence felt in your own unique way that is in line with your character.
- Do not spend your time trying to prove yourself, rather spend time doing what you good at well and building your businesses’ competitive advantage. That way your work can speak for itself.
- Focus on you, your business and ensuring that your clients see the value you can deliver to them instead of focusing on the realities of your industry.
- Do not always refer to yourself negatively as a women entrepreneur, because you are setting parameters and implying that you have limitations. Your gender does not dictate what your business can achieve, and it certainly does not contribute to the value that you can create for your clients and the service you can provide.
- Find successful entrepreneurs in your industry who are willing to share advice and offer guidance, that way they can also help navigate some of the challenges and you can learn from the mistakes they might have made in the past.
- You need to have the confidence and the courage to navigate any challenges that could potentially come your way and always be open to learning.
Women entrepreneurs possess extraordinary traits that not only contribute to their success in business but extends to the nurturing of others around them. It is therefore crucial that as women in business, we appreciate our unique contribution to the world of business by fully embracing who we are. The month of August should be used for us to reflect on how far we have come, celebrate each other and to look forward to making an even bigger difference to the world of business.
