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Over the last decade, the Indian economy has been on a steady rise, with a parallel surge in the number of new start-ups and businesses in the country. The foundation of majority of these enterprises was laid by men. Currently, there are a total of 58.5 million entrepreneurs in India out of which 8.05 million are women, making up for only 14 per cent of the total number of entrepreneurs in the Indian business ecosystem.
While numerous Indian women nurture entrepreneurial ambitions, it is more often difficult for them to succeed in their endeavours as compared to men. Nevertheless, women are still striving hard to overcome the existing patriarchal norms and mindsets of the Indian society to carve a niche for themselves. Moreover, these modern-age businesswomen are self-made, with only a handful hailing from influential business families originally.
The rise of women entrepreneurship
Despite all the roadblocks, the number of women entrepreneurs is still surging. Women have entered into various maledominated industries and are also exceeding the executive positions, as they go about securing senior designations. Simultaneously, many women are also setting up their own ventures, officially foraying into the business world, traditionally monopolized by men. The last decade saw the femalerun businesses grow by 45 percent, reshaping the whole business industry merely by their existence in it. Hence, this proves that female entrepreneurial mindset, if boosted, can catapult the business world to new heights.
Female leadership shapes an avenue for diversified ideologies and brings in a fresh perspective to how a business should be run. Here’s a roundup of the skills that females bring into the start-up ecosystem:
Clarity of thought & firm drive
Every woman entrepreneur is inherently a person of mettle as well as metal. They possess a strong intent and are more often than not decisive about their purpose of establishing a business as being finicky doesn’t work in this sphere. Right from identifying the specific goals and their execution to the ultimate objective, women are very clear in their thoughts. They know how to cut out a definite roadmap – whether the project is purely passion-driven or there’s a business angle to it. Whether it is intended as a boutique business or arrangements need to be made for its expansion – women have it all figured out before taking the plunge.
Masters in the art of communication
Women ace the art of communication as they are gifted with the ability to express and convey their thoughts succinctly and effectively. One’s success as an entrepreneur is largely determined by how well they can communicate. One could be exceptional at what they do, but if they cannot communicate clearly with clients, employees, and other stakeholders of the industry, then one stands to lose out on various opportunities.
“Female leadership shapes an avenue for diversified ideologies and brings in a fresh perspective to how a business should be run”
Adept At Multi-Tasking
Around 58 percent of women entrepreneurs claim multi-tasking to be their strength. Women are much faster, efficient and more organized at switching swiftly between different tasks and perform well under pressure. Females can multitask, have a calmer and more poised approach to problems and issues at work, are highly committed to a cause, and have a much less distracted mind with higher attention spans. The women are known to juggle work, family, relationships, and everything that comes in between, trying to make the best of the finite time and resources available to them. They nevertheless manage to do it all with panache.
Women are creative
Present day companies operate within an increasingly competitive global environment that thrives on creativity and innovation, as mundane ways of doing things do not work anymore. Creativity is what fuels novel ideas, broadens the mental horizons of employees and opens doors to new business opportunities. Creativity ranks first when there are talks of future business success, factoring much high above integrity, management discipline, and even being visionary. Women entrepreneurs have creativity ingrained in them. They can turn big ideas into fruitful business opportunity by constantly adapting to the current atmosphere and being able to gauge future possibilities. Compared to their male counterparts, women entrepreneurs can easily spot gaps in the market and seize opportunities.
Intuition and sensitivity
Women are blessed with the power to interpret unspoken cues and comprehend non-verbal communication, much more effectively than men. Power of intuition balanced in right contrast with passionate knowledge arms women entrepreneurs with empathy empowering them to uphold a well-balanced workforce. Females make the best bosses, co-founders, managers, team leaders and colleagues as they are highly intrinsic to success – they know well how to promote commitment, stability, consistency and involvement from all at various levels of the organization.
We are living in the 21st century and it’s time that we finally broke new grounds in terms of bridging the gender gap that exists between men and women in entrepreneurship. By giving chance to female entrepreneurs to prove their calibre and talent in the world of business and by investing in them, the Indian start-up ecosystem can secure a presence on the global stage.