3 More Reasons Why Female-Run Businesses Are More Likely to Succeed

Starting a business can be scary. Instead of trading hours for dollars to collect a paycheck, you’re trading your energy, reputation, and vision to launch a business that may not pay off for a while. Funding options may be harder to find as you build a market for your products or services. But don’t worry, female-run businesses succeed for many reasons, including the following three.

Better Work Environment

One of the reasons women build strong businesses is that they create a great work environment for their employees. Working for someone who understands that life/work balance is key, particularly if you are raising a family or caring for a parent. The standard 8 to 5 workday isn’t actually very workable for a lot of employees, and a flexible business owner can get great results from employees who know their boss has their back when schedules get tight.

Empathy in Customer Service

Empathy is the ability to see the world through someone else’s eyes or to understand where they are starting. As a business owner, you’re probably trying to lead them somewhere else. If they’re upset, you’re trying to calm them down. If something isn’t working in their life or business, you’re trying to help them find a solution. While there is some discomfort in stepping into their shoes, you can help them find a better option. Any customer who doesn’t feel heard will find a better company to work with as soon as they can. Think of the most hated corporations in the world, such as Comcast, Farmers, or Bank of America; each of them has a reputation for treating customers like a unit of revenue rather than a human being deserving of basic dignity. Listening is essential, and so is giving the customer time to calm down.

Mentorship is Key

Both men and women are more likely to start a business if they have the support of a mentor. It should be noted that mentors are closer to coaches than they are to therapists. In addition, mentors should never be used as dumping grounds. If you want to start a business because you hate your job, take your business aspirations to your mentor, but schedule a complaint session with your best friend.

 

Women are changing the world of business by being flexible, supportive and empathetic. These very human traits make it possible to mesh the world of work with our daily living. Life doesn’t stop when you enter the factory or office.