Evolution through Coaching
Strategy. Adapting. Change. Performance.
Women-owned businesses are often less successful than men-owned businesses
Did you know that women owned businesses are often less successful than men owned businesses? Research shows these are some of the reasons why:
- A major reason this happens is when women-owned businesses are under-resourced in the start-up and early years of the business. Resources include finance, knowledge, knowhow and a good network for advice and support.
- Many women are younger when they start their business than men. Being at an earlier stage in their career, they lack the resources from knowledge and contacts that many older men have developed through their career and use to their advantage to build a thriving business.
- Many businesses struggle to survive or close down and women-owned businesses are more volatile (more start-ups and more closures).
- Many women cite fear of failure as one of the major stumbling blocks that held them back from trying out new ideas and "being all in" to grow their business. They also cite the stress of feeling alone and having no-one to discuss their plans with - that led to sometimes poor decision making or no decision at all, which contributed to the business barely surviving.
- Curiously, fear of success is often another factor. When you own a successful business, you are much more visible, you have to put your head above the parapet. Many women feel very vulnerable doing this, so avoid it and this is a huge barrier holding back their business' growth and success.
- Women often have different motivations than men for starting their own business and different measures of success. Women more often than men start a business for lifestyle reasons, to fit around other commitments. While financial success is important at some level for all businesses, for many women-owned businesses it is not the only or most important measure.
- Women have different requirements for the type of support they want and find it makes a real difference to work in a women only group. For example, "it feels less vulnerable", "it feels safer to open up and explore your ideas in a safe environment", "men see things in a different way, they talk a different language", "women work in a more collaborative way".
Source - Professor Sara Carter, Professor of Entrepreneurship and Head of the Hunter Centre for Entrepreneurship at the University of Strathclyde Business School, speaking about the future of Women's Enterprise. AGM of the Association of Scottish Businesswomen, 16 November 2013
"More women than ever are starting their own businesses. I believe we have the potential to make a real difference to not only our own lives and the people around us, but also to the economy as a whole. We deserve to be successful in our enterprise. We have the power together to thrive and make it happen, to learn from the programme resources and each other, to build our mindset for success, to inspire each other, to celebrate our successes, to commiserate our lows, and to give ourselves the boost we need to ensure our business is successful."
Sue Mitchell, Aeona.
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Evolution: (noun) A gradual development. An exercise carried out in accordance with a procedure or plan.
Evolution through Coaching: Improved performance and desired changes achieved using a strategy to adapt people's attitudes, behaviours and actions.