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Common Traits of Female Entrepreneurs

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What do successful female Entrepreneurs have in common? This is neither a trick question nor the beginning of a joke.

Being a successful female entrepreneur doesn’t come down to luck, though a business coach may say, ‘you create your own luck,’ so in a way, luck has played a role. So was it their upbringing? We take a look at some well-known female entrepreneurs to find out.

Here are some of the characteristics of female entrepreneurs, and for inspiration, we turn to the juggernaut, Oprah Winfrey. While getting to the top took a lot of hard work, perseverance, a thick skin, and staying power, Elite Daily also suggests the following traits were very much part of Oprah’s attributes. So what can we learn from them? Let’s find out.

Love What You Do

What do most successful people say when asked what got them to the top? Loving what they do. Dedication, commitment, resilience, and staying power to the top are only possible when you genuinely love what you do.

Women in business have to work harder for recognition, but the female entrepreneurs who do it anyway because they love what they do are more likely to reap the rewards, but reaching the top takes a lot more than just loving what you do.

Let’s move on to the need to stay relevant with your audience.

Relevance

Oprah has remained relevant throughout the decades. All businesses and Entrepreneurs need to be relevant to attract and retain a community and customers.

Oprah is a social media star, so ignore social media at your peril. Social media has more than half the global population as users.

Facebook and its other sites, including WhatsApp, Instagram, and Facebook Messenger, have the lion’s share with 2.79 billion active monthly users.

You can not become a successful entrepreneur as a party of one. You need an active social media community to remain relevant.

Be Yourself

How often have you heard a mentor or coach say to you – just be yourself? As a rising star, it becomes much harder to be yourself in anything. So what does it mean to be yourself?

  • Stay true to what you believe in
  • Be genuine and consistent in your communication

Back Yourself

If you don’t back yourself, no one else will have your back. Putting yourself out there and taking risks is what life is all about. Oprah backed herself, and yes, she made many mistakes, but she never gave up.

Taking risks is backing yourself even when you fail at something. If you’re afraid of failing, you will never reach the top.

Embrace your failures and learn from them. Other women who have first failed before making it include these women entrepreneurs:

  • Natalie Ellis – Founder of Boss Babe
  • Anna David – Founder of Light Hustle Publishing
  • Sarah Pendrick – Founder of GirlTalk Network

Plus, these women realized they needed the confidence to break their business partnerships and go out on their own they are also all social media stars. This reminds us of the need for relevance and an all-important community of followers.

Take Risks

Another sign that you are backing yourself is your willingness to take risks. The downside of risk is you will fail, but the upside is a chance you will succeed.

Part of risk-taking is the willingness to do what other people fear doing. This action is known as pushing the envelope.

So what does pushing the envelope mean? You’re going beyond what is deemed normal or usual. You’re taking a risk, or you’re being radical, says the definition on merrian-webster.

Pushing the envelope is make or break, but it has no real success.

Take Ownership

Knowing you’re responsible and claiming it to be so are not the same.

Taking responsibility for failures and what happens in your life, irrespective of your beginnings is an attribute that will take you far – maybe as far as some of the leading female entrepreneurs.

The list of characteristics of Oprah and other successful women also includes:

  • Instincts or gut-feel
  • Positive and motivational

Plus, the high and low points to becoming a business leader or social media star is a lot more palatable with excellent and reliable friends.

So do you have what it takes to be a female entrepreneur? You may wonder if you need to work on traits typically associated with female entrepreneurs to succeed or if you ditch that approach and become more like male entrepreneurs with assertiveness, taking more risks, etc.

Generalizations

What you are about to read is a generalization. There is no right or wrong way to develop your entrepreneurial skills.

Research has suggested that female entrepreneurs may require and definitely use different traits and skills than their male counterparts due to a variety of factors such as gender bias, social and cultural expectations, and access to resources.

Some studies have found that female entrepreneurs have more vital interpersonal skills like empathy and relationship-building than male entrepreneurs. They also tend to be more risk-averse and cautious in their decision-making, which may be beneficial in some contexts. Additionally, female entrepreneurs may be more likely to prioritize social responsibility and focus more on work-life balance.

On the other hand, male entrepreneurs may have strengths in areas such as networking, negotiating, and strategic planning. They may also find accessing finance easier and more comfortable taking risks and making bold decisions.

It is important to note that these are generalizations, and there are always exceptions to these trends. Ultimately, the traits and skills required for success in entrepreneurship depend on various factors, including the industry, the business model, the target market, and the individual entrepreneur’s strengths and weaknesses.