Female entrepreneurs have made great strides over the past two decades. Female managers have also become successful in leading big companies. Women leadership positions are indeed on the rise and are making a huge impact on the world economy. However, being a successful business woman or female manager is no easy feat. Creating, managing, and maintaining a successful business requires countless hours of hard work, dedication, and passion. Moreover, despite the modernization of the world, women entrepreneurship still faces unique challenges.
Some women still face gender discrimination in the traditional workplace. While other women are having a hard time balancing work and childrearing. These challenges are some of the most common reasons why women start a business. Recent statistics show that women are making a lot of progress both in the US and around the world. But it’s no accident why many famous female entrepreneurs like Gina Rinehart, Oprah Winfrey, Ariana Huffington, Beyoncé, et al. are making inroads in business. Throughout this article we will discuss the common challenges as well as useful techniques to become a great female leader.
Let’s look at the stats first. A study conducted by American Express reveals that the rise of female entrepreneur numbers increased by 114% for the past 20 years. This is a stunning rate of 2.5 times higher compared to the national average rate. This translates to a net result of 11.6 million women-owned businesses in the US alone. These enterprises approximately employed 9 million people and generated around $1.7 trillion in annual revenue. Further down this article, you will learn techniques on how to be the best leader and successful woman you can be.
Value Your Time
Great women leaders know how to value their time. As a leader, you may be constantly bombarded with work, with plenty of to-do lists, constant meetings, and training. It’s crucial then, to master—at a high level—the art of time management. One great way to achieve this is to use time and attendance software to track both yours and your employee’s time. Another way to effectively manage your time is to plan for the whole week. Scheduling your whole week in advance can help you stay on top while reducing the feeling of being overwhelmed. Powerful women also set clear boundaries. These successful women know that creating boundaries is important for success and wellbeing. Entrepreneur women should also learn to say no to other people’s agendas to focus their attention on their priorities.
Set deadlines – Practicing smart time management also includes setting deadlines. Women leaders know full well that deadlines are vital in achieving both large and small business goals. Strategic deadlines set you up for success.
Prioritize – You must also learn how to prioritize your time. You should prioritize what’s important so that you’re working on tasks that move you closer to achieving your goals. Prioritization allows you to focus on your core activities instead of drifting on unimportant tasks.
Constant Development
Strong female leaders strive for constant development. Ginni Rometty, the CEO of IBM suggests that growth and comfort do not coexist. So female leaders should see development as another stepping stone to success.
Women should invest in professional growth – How women think in a leadership position differs from men’s point of view. As women tend to look for opportunities to help their subordinates grow. This may be due to higher oxytocin levels in women. Neuroscientists conclude that since women have a higher level of this hormone, it becomes innate for them to care about their subordinate’s well-being and connect on a personal level. Consequently, you should not forget to grow professionally too. As a businesswoman, investing in yourself is a clear indication of your intense desire to value growing.
Coach your team – Great women managers invest time in coaching their teams. They care about their personal and professional development too. They coach them by emphasizing teamwork, effective communication, inspiring and motivating them in accomplishing goals.
Be a role model – Great leaders seek to be role models who inspire their subordinates and those around them. Research shows that women are strong transformational leaders. They aim to enhance the morale, motivation, and performance of their team by identifying what needs to be changed, and by guiding them all the way.
Communication
Women in leadership roles are more inclined to establish connections with their teams through effective communication. A woman’s power to verbally communicate effectively is another key to foster trust. Constantly developing yourself to be a great communicator can significantly help you to achieve success in your field.
Do not be bossy – The most powerful women banished the word “bossy” in their vocabulary. To be a successful entrepreneurial woman, you should know how to speak up and take charge without being arrogant and too assertive.
Try mindful listening – One of the key aspects of effective communication is mindful listening. But what is mindful listening? It involves being present in the conversation, letting go of any preconceived notions or judgments, and most importantly, actively listening to what the other party is saying. By attuning to what is being said through careful observation of verbal and nonverbal cues, we are able to understand what the speaker is conveying more completely and make sure that we feel heard. For female managers especially, it can help foster trust and encourage collaboration within their teams for greater efficiency in managing issues and projects.
Assign tasks according to strength – Successful women know how to delegate effectively. They know that assigning tasks according to their people’s strengths not only boosts productivity but also keeps them engaged.
Planning
Every successful woman knows the importance of proper planning in whatever venture. A good plan helps women in leadership roles to concentrate on their goals, it helps keep track of their progress, helps create contingency strategies, and so forth. They curate SMART (Specific, Measurable, Attainable, Relevant, Time-bound) plans to stay strategic and competitive.
Have a morning routine – Daily morning routines are a powerful way to kick-off your day. Instead of worrying about your to-dos, checking your email or social media first thing in the morning—start your day with something empowering. Successful morning routines are those that add value to your overall well being like meditating, reading, or just pleasurably having breakfast.
Define your goals – Setting business goals is another key to being successful in your entrepreneurial venture. A concrete set of goals helps you to focus your time, energy, resources, and effort. Defining your personal and professional goals helps you to stick to your plan for the long-term.
Keep a Diary – Journaling your thoughts—especially important decisions you’ve made, new ideas, and lessons—is a powerful way to stay on track. The act of writing something down can even help you to come up with useful business ideas for women.
Develop your business mindset
Women of power became who they are because they have adopted the right mindset. Your internal messages can make or break you, so make sure to be aware and refuse negative self-talk. Successful women entrepreneurs know how to leverage their strengths and improve their weaknesses. They appreciate their uniqueness and don’t second-guess their abilities.
Women support women – Women business leaders and women world leaders know that it is vital to be surrounded by people who support their vision and professional growth. The most influential women out there support and motivate other women to be successful as well. In your journey, find like-minded people and useful connections who will support you in the present and your future endeavors.
Focus on success – To become a powerful woman, you need to believe in yourself and focus on success. An enthusiastic attitude will help you stay firm while navigating the complex world of business. Women business owners should know how to embrace failures and keep moving forward.
Final Thoughts
There are a myriad of ways to become an influential woman. Ultimately, it starts by following a disciplined routine, healthy habits, and a good work ethic. Famous females didn’t achieve success overnight. To be a source of inspiration women look up to, requires intentional learning and careful cultivation of daily habits and useful techniques. Anne Sweeney, the former Co-chair of Disney Media, suggests women define success on their own terms. To achieve it by their own rules, and then build a life they’re proud to live.