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Traditionally, entrepreneurship has been a male-dominated chase however several of today's most impressive and rousing entrepreneurs are women. Women have broken down the glass ceiling of the traditional thought long prevailing in world and have emerged as successful entrepreneurs. Many factors like urbanization, technical progress, women education, etc., have profoundly changed these traditional conditions even in a developing country like, India. These days India has been the depiction of women in the top echelons of banking and financial services and many more sectors and even has emerged as powerful entrepreneurs. Women in India have already started to follow the direction that the women of the western world took more than eighty years ago. Women are increasingly becoming conscious of their existence, their rights & their work situations
Women entrepreneurs are defined by Government of India as an enterprise owned and controlled by a woman having a minimum financial interest of 51% of the capital and giving at least 51% of employment generated in the enterprise to women. An estimation made by a daily newspaper revealed the fact that women entrepreneurs presently comprise about 10% of the total number of entrepreneurs in India, with the percentage increasing every year. If the current trends persist, it is possible that in another five years, women will comprise 20% of the entrepreneurial force.
The educated women do not want to limit their lives in the four walls of the house. They demand equal respect from their partners. However, Indian women have to go a long way to achieve equal rights and position because traditions are deep rooted in Indian society where the sociological set up has been a male dominated one. Women are considered as weaker sex and always made to depend on men folk in their family and outside, throughout their life. The Indian culture made them only subordinates and executors of the decisions made by other male members, in the basic family structure. While at least half the brainpower on earth belongs to women, women remain perhaps the world's most underutilized resource. Despite all the social hurdles, India is brimming with the success stories of women. They stand tall from the rest of the crowd and are applauded for their
achievements in their respective field. The transformation of social fabric of the Indian society, in terms of increased educational status of women and varied aspirations for better living, necessitated a change in the life style of Indian women. She has competed with man and successfully stood up with him in every walk of life and business is no exception for this. These women leaders are assertive, persuasive and willing to take risks. They managed to survive and succeed in this cut throat competition with their hard work, diligence and perseverance. Ability to learn quickly from her abilities, her persuasiveness, open style of problem solving, willingness to take risks and chances, ability to motivate people, knowing how to win and lose gracefully are the strengths of the Indian women entrepreneurs.
Women Entrepreneurs may be defined as the women or a group of women who initiate, organize and operate a business enterprise. The Government of India has defined women entrepreneurs as â€•an enterprise owned and controlled by women having a minimum financial interest of 51 per cent of the capital and giving at least 51 per cent of the employment generated in the enterprise to womenâ€-. Women entrepreneurs engaged in business due to push and pull factors which encourage women to have an independent occupation and stands on their own legs. A sense towards independent decision-making on their life and career is the motivational factor behind this urge. Saddled with household chores and domestic responsibilities women want to get independence. Under the influence of these factors the women entrepreneurs choose a profession as a challenge and as an urge to do something new. Such a situation is described as pull factors. While in push factors women engaged in business activities due to family compulsion and the responsibility is thrust upon them.
REASONS FOR WOMEN BECOMING ENTREPRENEURS
The glass ceilings are shattered and women are found indulged in every line of business. The entry of women into business in India is traced out as an extension of their kitchen activities, mainly 3P's, Pickle, Powder and Pappad. But with the spread of education and passage of time women started shifting from 3P's to modern 3E's i.e., Energy, Electronics and Engineering. Skill, knowledge and adaptability in business are the main reasons for women to emerge into business ventures. Women Entrepreneur' is a person who accepts challenging role to meet her personal needs and become economically independent. A strong desire to do something positive is an inbuilt quality of entrepreneurial women, who is capable of contributing values in both family and social life. With the advent of media, women are aware of their own traits, rights and also the work situations. The challenges and opportunities provided to the women of digital era are growing rapidly that the job seekers are turning into job creators. Many women start a business due to some traumatic event, such as divorce, discrimination due to pregnancy or the corporate glass ceiling, the health of a family member, or economic reasons such as a layoff. But a new talent pool of women entrepreneurs is forming today, as more women opt to leave corporate world to chart their own destinies. They are flourishing as designers, interior decorators, exporters, publishers, garment manufacturers and still exploring new avenues of economic participation
Counting Women-Owned Business
In 2010-2011, 10.1 million firms were 50% or more owned by women:
These firms employed over 13 million people.
Over $1.9 trillion in sales were generated from these firms.
3% of all women-owned firms have revenues of $1 million or more, while 6% of men-owned firms have revenue with $1 million or more
Three-quarters of all women-owned businesses are majority-owned (in which women own 51% or more).
Women-owned firms have grown at two times the rate of all firms for the past two decades.
40% of all privately held firms were owned by women.
Women of Color
In 2008-2009, women of color were the majority owners of 1.9 million firms.
These firms generated $165 billion in revenue.
1.2 million people were employed by these women of color- owned firms.
As of 2008, there were an estimated 650,309 majority-owned, privately-held firms owned by African-American women in the U.S., and they generated almost $26 billion in sales.
34.2% of minority-women-owned firms were owned by African- American women.
As of 2008, there were an estimated 642,458 majority-owned, privately-held firms owned by Latinas in the U.S., and they generated $45 billion in sales.
33.8% of minority-women-owned firms were owned by Latinas.
As of 2008, there were an estimated 496,413 majority-owned, privately-held firms owned by Asian-American women in the U.S., and they generated over $86 billion in sales.
26.1% of minority-women-owned firms were owned by Asian-American women.
Native American and Alaska Native women:
As of 2008, there were an estimated 100,453 majority-owned, privately-held firms owned by Native American and Alaska Native women in the U.S., and they generated $6.6 billion in sales.
5.3% of minority-women-owned firms were owned by Native American and Alaska Native women.
Native Hawaiian and Pacific Islander Women:
As of 2008, there were an estimated 12,922 majority-owned, privately-held firms owned by Native Hawaiian and Pacific Islander women in the U.S., and they generated $9.9 million in sales.
0.7% of minority-women-owned firms were owned by Native Hawaiian and Pacific Islander women.
In 2009, about 11% of U.S. firms with venture-capital backing had current or former female CEOs or female founders.
Women represented 11% of overall venture capital investors in 2011.
Women represented 18% of VC investors in life science and clean technology industries, 12% in business-to-business information technology, and 11% in consumer IT.
KIRAN MAZUMDAR SHAW
Kiran Mazumdar Shaw founded Biocon India in collaboration with Biocon Biochemicals Limited, with a capital of Rs.10000. She initially faced many problems regarding funds for her business. Banks were hesitant to give loan to her as biotechnology was a totally new field at that point of time and she was a woman entrepreneur, which was a rare phenomenon. This bio-tech entrepreneur learnt the importance of self-reliance and personal re-invention at an early age. That philosophy has held her in good stead through her life.
The challenges have evolved along with the evolutionary growth of Biocon. Initially, she faced credibility challenges: her youthful age, gender and the nature of the unfamiliar business model posed enormous obstacles. Funding was not easy to come by either. No bank wanted to lend to her, no professional wanted to work for her, and it was tough to even do business because women were considered "high risk" in the business world. Once she overcame these, she had to face technological challenges of trying to build a Biotech business in a country where the infrastructure was too primitive to support a high tech industry like Biotechnology that was so dependent on uninterrupted, high quality power, high quality water, sterile labs, imported research equipment, advanced scientific
skills etc. Today, our challenges address those posed by new medical wisdom: addressing unmet medical needs, researching new drugs, new drug delivery systems and new therapies. Overcoming each of these phases has been a rich learning experience that has helped them to develop world-class expertise in Biotechnology. Currently her challenges are about growth and managing a large company and managing investor expectations like any other CEO."
She regularly features in world's top power lists and then makes it to the best philanthropists' lists as well. Kiran Mazumdar Shaw takes that lightly- she has after all, a USD1 billion dollar company to take care of, apart from collecting exclusive art works, addressing global entrepreneurs, researching for newer drugs and at the same time going out for dinner with husband John Shaw, her partner in Biocon International- India's first biotechnology company.
"My journey has been challenging. But I am satisfied that I have achieved a lot of objectives. There are many more milestones to cross before I can truly say that I feel completely satisfied, though. I faced the challenge of incredibility when I began- I was a young woman when I started out. People did not even know what Biotechnology was, let alone realize its potential. I faced problems of financing as no institution was ready to back my venture in 1970s. I had to start from my garage with only Rs 10,000 as an investment.
I wanted to be a coffee brew master, but I was rejected as I was a woman and women had not entered the field yet. That led me to think of my own business. But I couldn't even recruit people as I was a risky proposition because of my gender and age. There were just so many challenges, but it is the spirit of winning over them that kept me going. I rejected the idea that women couldn't do tough business.
For me power is not personal. It is about being able to speak your mind and bring about a change. When you have that opportunity, then you should interact with stakeholders like policy makers, policy beneficiaries, academics, scientists (as in my field) etc. and encourage them to bring about new ideas. Power is about empowering others.
Kiran on women's stage
In India it is the society which plays a crucial role in deciding a woman's career. Whether she will work after marriage or not, whether she will be encouraged to utilize her education fully or not. But this is a global problem- women face glass ceilings everywhere. Family support, determination and a confidence in abilities will help remove this inequity. Look at me!
Knowledge does not have a gender divide - women scientists, women engineers, women writers have enormous opportunities to excel and succeed.
The problems that we face in any business are gender neutral. Same goes for business leadership. I think a lot depends on the individual entrepreneur. Both men and women face equally daunting tasks and each person deals with them in their own way.
Whether it is women or men, balancing work-life is a challenge that all of us in business face. It is difficult no doubt for me to spare enough time for my family because there are just so many things to do related to my work. My husband and family give me a lot of support and it couldn't have been possible without that. It is tougher for women no doubt as they have a particular role in the Indian family- they are the home makers. But women have this natural ability to balance and manage things deftly.
It is very important to remember that you have it in you to do it! Do not think too much about work-life balance; just go with the flow. You need also to accept a few things in life for mental peace as that will help you focus on that which matters.
Don't be preferential in your approach. Acknowledge that you are smarter and good at managing things and just do exactly that.
Principles in Life
â€¢ Do not make judgment on things, people, and issues with half information
â€¢ Listen to the little drummer in you who keeps saying break free, become large, build something memorable.
"I am a people person. I inspire confidence. I have respect for other people. I have honesty of purpose. I am a very good friend. I care deeply about friends. Sometimes people form opinion of others with partial information. They see them as good and bad, heroes and villains. Likeable and otherwise. Through my father, I have learnt to see issues, things, people and their being in their totality."
Secret of success
"Success is about pursuing a vision with a sense of purpose and a spirit of challenge. There are no short cuts to success and there is no substitute for hard work. I also believe success is about doing things in a differentiated way - dare to be different so that you stand out. Biocon's byline is 'The difference lies in our DNA' and we all believe in it. We don't imitate other companies but have chartered our own business destiny."
What wealth means to her
"I believe I have created intellectual wealth from very frugal resources and that is what I am acknowledged for. I do hope I can inspire ordinary people to build enterprises from very little monetary resources but a rich mind to succeed. I am proud of having created a valuable organization and that is the wealth I am proud of. Biocon is really about building intellectual wealth and not about creating material wealth. It is the opportunity that the company has provided to hundreds of scientists that matters to me."
Advise to budding entrepreneurs:
"If you have a vision, a plan and the conviction, you should follow it and success will come to you"
Success in any enterprise is about a team effort, and I think that's what it has been.
Don't be preferential in your approach.
Should not be de-motivated with failure but learn from one's mistakes
Dare to be different so that you stand out. The difference lies in our DNA.
Like every Indian girl Indra also had the same aspect of life, but nobody knew that this average student will achieve insurmountable hierarchy.
Indra Krishnamurthy Nooyi is the full name of Indra Nooyi; she is of Indian origin but settled in United States of America and is also famous as Indian-born American business executive. Indra has worked with numerous brands; she started her career from ABB and then Johnsons & Johnsons in Mumbai. In her second company she was closely associated with the launch of sanitary napkins for females. Currently she is working as the Chairman and Chief Executive Officer of PepsiCo, is the second largest food and beverage business in the world. She contributed in this company by introducing health drinks in the beverage industry. Indra Nooyi is the Alma Mater of Indian Institute of Management, Kolkata and Yale School of Management. When Indra Nooyi became the Chairman and Chief Executive officer of PepsiCo, it was very shocking for every one as she replaced Steve Reinemund, the Chief Executive Officer of the PepsiCo. It was a triumph for Indra Nooyi as she faced some problems such as she was a female, immigrant and complexion but she did not sway away her dedication and hard work. Read further to know about the achievements of Indra Nooyi.
Indra Nooyi was born and brought up in Chennai, Tamil Nadu, India. She celebrates her birthday on 28th October every year and has recently completed happy fifty-six years of her life. Her father
was an employee in State Bank Of Hyderabad in Chennai whereas her grandfather was a district judge.
Indra went to Holy Angels AIHSS, Chennai and there she completed her schooling. After completing her schooling she acquired her Bachelors degree in Physics, Chemistry and Mathematics from Madras Christian College in 1974. Being a science student she obtained a Post Graduate Diploma in Management (MBA) from Indian Institute of Management Kolkata in 1976. Nooyi was an average student at school and college, in fact her teacher's were shocked when they came to know Indra Nooyi is the Chairman and CEO of the PepsiCo, second largest food and beverage business in the world Later in 1978, she took admission in Yale School of Management and completed her Master's in Public and Private Management and completed her summer internship with Booz & Company.
After taking a diploma from Indian Institute Of Management Indra began her career in India as a product manager positions at Johnson & Johnson and textile firm Mettur Beardsell. In between she took admission in Yale School Of Management and finished her Masters in Public and Private Management. After accomplishing her Master's degree Nooyi joined the Boston Consulting Group (BCG), and then held strategy positions at Motorola and Asea Brown Boveri. Year 1994, is marked as the turning point in the life of Indra Nooyi as she joined PepsiCo. After her seeing her dedication and consistency towards her work she very soon became the President and the Chief Finance Officer, this was a small achievement in the life of this mediocre student at school, as she knew her horizon of success.
Indra Nooyi has been working for the company's global strategy and reformed PepsiCo reformation. Nooyi has taken company to its heights with her innovative ideas and perception of the market. She shook hands with restaurants chains like Pizza Hut, KFC and Taco Bell into Tricon, now acknowledged as Yum! Brands. In 1998, Nooyi was the woman behind the acquisition of Tropicana and also unified with Quaker Oats Company, which brought Gatorade to PepsiCo. All this hard work brought good results in her pocket as she became the fifth Chief Executive Officer in history of forty-four years of PepsiCo. Her spirit of dedication and hard work made her etch her name with golden letters in the history of food and beverage industry.
According to the Business Week survey, it was observed that the company's annual revenue has risen to 72% whereas the net profit has just doubled to $ 5.6 billion in a span of five, when she was promoted as a President and Chief Finance Officer in 2001. Nooyi was listed among 100 Most Influential People in The World in 2007 and 2008 by Times. Forbes magazine has ranked Nooyi fourth on the 2008 and 2009. From past five years that is 2005 onwards Fortune magazine has named Nooyi number one on its annual ranking of Most Powerful Women in business In 2008, Nooyi was named one of America's Best Leaders by U.S. News & World Report and in the same year she was elected to the Fellowship of the American Academy of Arts and Sciences.
In January 2008, Nooyi has been elected as the Chairwoman of the US-India Business Council (USIBC), US-India Business Council Board of Directors is headed by Nooyi, it is an assembly of more than 60 senior executives representing a cross-section of American industry.
Indra Nooyi has been named 2009 CEO of the Year by Global Supply Chain Leaders Group and was considered as one of "The Top Gun CEOs" by Brendan Wood International, an advisory agency. In 2010 she was named #1 on Fortune's list of the "50 Most Powerful Women" and #6 on Forbes' list of the "World's 100 Most Powerful Women". Recently her top place has been taken by Kraft's Chief Executive Officer, Irene Rosenfeld as she has been on top from past five years. In 2008, 2009, 2010 and 2011, Nooyi was named to Institutional Investor's Best CEOs list in the All-America Executive Team Survey.
Indra on women's stage
It is very hard. It's not easy to juggle all of this because each one of these things is a full time job. The first thing I'd say to women is put aside the guilt. I think we're all genetically programmed to feel guilty for not giving total effort at the job. If we do, we worry that we're not giving it all at home to the kids or to our spouse. If you give up the guilt, that's a huge load off your shoulders. Second, do everything to the best of your ability. That's as far as you can go because at any point in time you're making trade-offs. For example, I was supposed to go on vacation this week, but instead of going away, I decided to do a 'staycation' so that I can be home with my kids before they go off to school very soon. My kids are 18- and 20-years-old, but I can see how they thrive when I'm at home. At the same time, my mind is itching to get back to work. Women go through these conflicts all the time. It's not easy - everyone wants a piece of you! Unfortunately, none of us have stay-at-home wives and so we are both the stay-at-home wives and the go-to-work moms.
Like male counterparts, women entrepreneurs have to overcome poor access to finance, sub standard infrastructure and regulations that create administrative burdens and costs. However, in addition to this, women have to contend with negative prevailing socio-cultural attitudes and gender discrimination. They also have lower credibility when it comes to dealing with suppliers banking institutions and clients. Women are also more likely than men to lack belief in themselves - over 50% do not believe they have the skills and mindset to become entrepreneurs - and have lower levels of education.
The prevailing attitude is that women should take care of their family on a social level and therefore don't have enough time left for business development. The same phenomenon could also be prescribed to the low educational levels of women which in turn could explain why so few women are involved in higher level, job creating activities.
REASONS FOR SLOW PROGRESS OF WOMEN ENTREPRENEURS IN INDIA
The problems and constraints experienced by women entrepreneurs have resulted in restricting the expansion of women entrepreneurship.
The major barriers encountered by women entrepreneurs are:
ï‚§ The greatest deterrent to women entrepreneurs is that they are women. A kind of patriarchal- male dominant social order is the building block to them in their way towards business success. Male members think it a big risk financing the ventures run by women
ï‚§ Male chauvinism is still prevalent in many parts of the country yet. Women are looked upon as â€•ablaâ€- i.e. weak in all respects. In a male dominated society, women are not treated equal to men that act as a barrier to woman's entry into business.
ï‚§ Women entrepreneurs have to face a stiff competition with the men entrepreneurs who easily involve in the promotion and development area and carry out easy marketing of their products with both the organized sector and their male counterparts. Such a competition ultimately results in the liquidation of women entrepreneurs.
ï‚§ Lack of self-confidence, will-power, strong mental outlook and optimistic attitude amongst women creates a fear from committing mistakes while doing their piece o f work. The family members and the society are reluctant to stand beside their entrepreneurial growth.
ï‚§ Women in India lead a protected life. They are even less educated, economically not stable nor self-dependent which reduce their ability to bear risks and uncertainties involved in a business unit,
ï‚§ The old and outdated social outlook to stop women from entering in the field of entrepreneurship is one of the reasons for their failure. They are under a social pressure which restrains them to prosper and achieve success in the field of entrepreneurship
ï‚§ Unlike men, women mobility in India is highly limited due to many reasons. A single women asking for room is still looked with suspicion. Cumbersome exercise involved in starting with an enterprise coupled wit h officials humiliating attitude towards women compels them to give up their spirit of surviving in enterprise altogether.
ï‚§ Women's family obligations also bar them from becoming successful entrepreneurs in both developed and developing nations. The financial institutions discourage women entrepreneurs on the belief that they can at any time leave their business and become housewives again.
ï‚§ Indian women give more emphasis to family ties and relationships. Married women have to make a fine balance between business and family. The business success also depends on the support the family members extended to women in the business process and management
ï‚§ Women's family and personal obligations are sometimes a great barrier for succeeding in business career. Only few women are able to manage both home and business efficiently, devoting enough time to perform all their responsibilities in priority.
ï‚§ The educational level and family background of husbands also influences women participation in the field of enterprise.
ï‚§ Absence of proper support, cooperation and back-up for women by their own family members and the outside world people force them to drop the idea of excelling in the enterprise field. They are always making many pessimistic feelings to be aroused in their minds and making them feel that family and not business is a place meant for them
Apart from the above discussed problems there may occur other series of serious problems faced by women entrepreneurs as improper infrastructural facilities, high cost of production, attitude of people of society towards the women modern business outlook, low needs of enterprise. Women also tend to start business about ten years later than men, on average. Motherhood, lack of management experience, and traditional socialization has all been cited as reasons for delayed entry into entrepreneurial careers.
ADVANTAGES OF FEMALE ENTREPRENEUR
1. Â Social Networking.Â Let's face it-women are natural networkers. They love to talk, mingle, and rub elbows. This is the very reason why husbands rarely ever manage the social calendar. In today's business environment, mastering social media is mandatory, and the ladies absolutely have a leg up!
2. Â Intuition.Â They call it "women's intuition" for a reason.Â Women in general can size up another person much faster than her male counterpart. In today's ultra-fast paced business environment, you need the ability to quickly identify the allies and the enemies. Regardless if you are a male or female, you need to trust your gut.
3. Â Pain Tolerance.Â Okay, initially I would have said this is irrelevant. But after watching my children be born, there is no question that my wife can handleÂ a lotÂ more pain than I can. And I am not just talking physical pain, I mean emotional, too (have you seen how tough children can be on their mothers?). In business, there are a lot of painful moments. A lot. Women definitely have an advantage in this area.
4. Â Multi-tasking.Â Women are known for juggling many tasks at the same time and still being able to produce excellent results. Conversely, the guys are masters at focusing on one thing. Still, the advantage in today's distracting environment goes to women.
5. Â Patience.Â Women inherently seem to have more patience. And in today's business environment, patience is key! Aggressive business strategies are not paying off like they once did. Slow and steady wins the race in this category.
6. Â Listening.Â A friend of mine went to buy a new bed at a small bedding store owned by a husband and wife team. The female owner approaches my friend and asked all kinds of questions about why they needed a new bed, if they could fix their old bed, what else they were considering, etc. She asked questions and listened closely. She clearly showed that she cared about helping to meet their needs. My friend was moments away from buying any bed that she recommended. But just then, the frustrated husband on the sales
team ran up and said "let me handle this." Then he just tried to hard close the sale. He was pushy, telling them what he recommended and what they had to have. Guess what? The sale was lost the second he began speaking! They walked out. I am sure he blamed her, but it was him. The key is to ask questions and really listen. Quite frankly, any great sales person knows this, man or woman, it just seems that the ladies are naturally better at doing it.
While female entrepreneurs only represent a small portion of the overall number of businesses in the country right now, make no mistake, that percentage will continue to climb. The research shows that the growth of female owned businesses is growing at twice the rate of male owned ones. The more women take the leap and open their business, the more others will follow in line. And because of these advantages, among others, they should have a pretty good chance of succeeding!Â
CHALLENGES FACED BY FEMALE ENTREPRENEUR
All entrepreneurs continuallyÂ face challenges.Â However, women entrepreneurs tend to face a unique set of challenges that their male counterparts can generally avoid.Â Here are the top 4 challenges they face in 2012.
1. Gender Discrimination
Women entrepreneurs need to understand that it has always been and still is a man's business world and that the male of the species is not going to make it easier for females to get a foothold.Â Interestingly enough, studies show that men may be the dominant force in society not because they want to, but that their sympathy for the suffering endured by their mothers as they struggle to nurture and raise the brood brings out the male's protective instincts and this ultimately translates into men dominating and subjugating women.
Mothers need to coach their offspring to understand that the true value that the mother brings to the brood is much more than just nurturing the brood. They also need to understand that nurturing the family without the direct help and support of the male counterpart is as complex an achievement as starting and successfully running a small company in the business world.
Women entrepreneurs need to push that concept even further along and fight to be taken seriously by their male counterparts.Â They need to be more assertive and also to be prepared to deal with explosive situations which women tend to want to avoid unlike their male counterparts. They need to understand that when explosive situations are managed correctly, the results are no different than managing the set of explosions that comprise a good fireworks display
2. Balancing Work and Family
Women entrepreneurs need to balance the mix of work and family. This is nothing more than proper time management. Society has deemed that because the woman spends 9 months gestating the fetus and then because she also lactates, she is expected to provide nurture and care for the brood while the father can take a hike and hunt or farm for food
which she still has to prepare so that the brood can have sustenance.Â I hate to say it, and some of my male counterparts and my "born again Christian" friends will get on my case, but if God had been a woman, she would have balanced the responsibility for nurturing and caring for the brood across both male and female by making him lactate and suffer the same emotional and hormonal changes that accompany the close bonding between a suckling infant and a lactating parent.Â Then and only then would the male admit to how truly powerful it is to be a mother and at the same time aspire to perform tasks outside the nest.
The woman entrepreneur needs to make the male understand and accept the joint responsibility for everyday care of the brood. . She needs to strike a balance between caring for the family and working outside the nest.
3. Â Â Self Confidence
Women entrepreneurs need to believe in themselves and have confidence in the viability of the business ideas they bring to the table. They need to understand that it is not the idea that is great, but rather the execution of the business model behind the idea that leads to success and bring value to the business proposition.Â Women plan and execute as well as men and because they have less to prove themselves in a "Jockless Culture" they tend to be more productive more quickly.
Our male dominated culture is driven by our captivation with sports and combat and since most sports were invented to satisfy the yearnings of the males in society we have a tendency to believe that only males can be the quarterbacks or the gladiators. Women entrepreneurs need to make the men understand that if they give the women the weapons and step out of the way, they'll see combat that they never thought possible
4.Â Network Building
Lastly, women entrepreneurs need to spend time paving the way for the next generation of female entrepreneurs. Their male counterparts have been able until now to build their networks and "good old boys" clubs with no competition from the females. The woman entrepreneur needs to understand that she'll continue to get minimal if any help from her male counterpart. She need to grab for the next rung on the ladder and pull herself up while leaving a map that her younger counterparts can easily follow. Today the woman entrepreneur is still a pioneer and she needs to come to grips with this.
Women entrepreneurs bring a different set of perspectives into decision making in the 21st century.Â They are an underutilized talent pool in an increasingly talent-constrained business environment and it is time they go after what they should have had from the very beginning.
It can be said that today we are in a better position wherein women participation in the field of entrepreneurship is increasing at a considerable rate. Efforts are being taken at the economy as brought promise of equality of opportunity in all spheres to the Indian women and laws guaranteed equal rights of participation in political process and equal opportunities and rights in education and employment were enacted. But unfortunately, the government sponsored development activities have benefited only a small section of women i.e. the urban middle class women. Women sector occupies nearly 45% of the Indian population. At this juncture, effective steps are needed to provide entrepreneurial awareness, orientation and skill development programs to women. The role of Women entrepreneur in economic development is also being recognized and steps are being taken to promote women entrepreneurship. Resurgence of entrepreneurship is the need of the hour emphasizing on educating women strata of population, spreading awareness and consciousness amongst women to outshine in the enterprise field, making them realize their strengths, and important position in the society and the great contribution they can make for their industry as well as the entire economy. Wo men entrepreneurship must be moulded properly with entrepreneurial traits and skills to meet the changes in trends, challenges global markets and also be competent enough to sustain and strive for excellence in the entrepreneurial arena. If every citizen works with such an attitude towards respecting the important position occupied by women in society and understanding their vital role in the modern business field too, then very soon we can pre-estimate our chances of out beating our own conservative and rigid thought process which is the biggest barrier in our country's development process.
We always viewed that a smart woman can pick up a job any day, but if she becomes an entrepreneur she can provide a livelihood to 10 more women at least..!! Highly educated, technically sound and professionally qualified women should be encouraged for managing their own business, rather than dependent on wage employment outlets. The unexplored talents of young women can be identified, trained and used for various types of industries to increase the productivity .