Women, like men, enjoy the idea of being in control and the ability to take risks that enable them to earn more profits. As it has been more difficult for women to move up the corporate ladder, owning a business is a natural option. A large percentage of businesses are owned by women. Through a combination of societal and political change, women are now entering the workforce in record numbers; and legislation aimed at curbing discrimination on the basis of race and sex has enabled women to move ahead in many fields which once were traditional male domains. Most women will work outside the home until retirement. A large percentage of married and single women choose to pursue a career, and the high divorce rate forces more women to be self-supporting or heads of households. Whether married or single, most women still assume to role of homemaker, keeping the home running smoothly, working around the children’s schedules, and making sure everyone has what they need. More men, however, share this responsibility today than several years ago. There are many reasons women choose to own their own businesses, but being able to work around their children’s schedules and allowing for more quality family life are definitely important ones.
So how does a woman owner differ from a man? Just as men owners are different from each other and women owners are different from each other, so are men and women owners different from each other. The knowledge, education, skills and ability could be the same; but personality and type of management are usually what we see as the difference. Men tend to be more assertive than women and never look back after making a decision, while too often women second guess their own decisions. Women are naturally more nurturing than men, and that is a great quality that can be used in business. Getting to know employees and contacts on a personal level is typical of women, whether dealing with men or women; but men tend to stick strictly to business, which works well for them. Because of that nurturing quality, women owners are usually more likely to understand work scheduling because of children’s activities or illness.
Some men offer resistance to working for a woman boss based on preconceived attitudes or stereotypes when qualities admired in men are seen in women as threatening. This is another advantage for a woman owning a business rather than being a manager in the corporate world. As a business owner, she is regarded as ‘the ultimate’ boss, which she is, and sometimes receives more respect. Women do not have to ‘act like a man’ to be successful. While it is always important to be assertive and not aggressive, it is probably more important for women.
Most things about owning a business are the same for men and women. A good knowledge of the product or service being sold is crucial, as is a working knowledge of every part of the business. Although a good manager can transfer the principals of management to other businesses, each business is unique. Good planning and organization skills and a good business plan are equally important for men and women.
One disadvantage for women is lack of physical strength. Most men are just naturally stronger than women, but it is easy to have someone stronger to handle some things. It is a stereotype that all men are physically strong and can fix anything, and we know that isn’t true. It was probably true in past days when most men did more physical work, but today many men hire others to do their physical work, just as women.
In conclusion, women can be as successful as business owners as men. They actually have an advantage if they use their nurturing instincts to their benefit. We see more and more women business owners. Women buyers should have no fear of buying a business. Just remember that no one can know everything; you just need to know where to go for help.
