By Lakeisha B McKnight Submitted On April 06, 2015
Marjorie Alfus, one of the leading advocates of women in business once said that women business owners are growing and there don’t seem to be any signs that it is slowing down. For several years, she has funded lots of charities and offered lots of grants just so women could make it in the business world. The good news is that her help and the help of all other advocates are now bearing fruit.
Over the past 10 years, the growth of businesses run by women has doubled up. Further studies show that, more or less, the market share is equally divided. Likewise, the same trend is seen worldwide. Women becoming entrepreneurs or “womentrepreneurs” are now becoming widely celebrated because of the jobs they bring and the added value they bring to the economy. How exactly was this accomplished though? Here are some takeaways.
Added Competition
While there has always been competition in the market, the influx of more competitors, both male and female, is a cause for improvements in the various industries. Providers that used to dominate would think of more cost-effective packages in order to retain their customers. Likewise, they would also provide a better range of services given that others would soon compete with their basic offerings.
Better and More Attractive Service
Women have always been better at relationships and the customer-provider relationship is no exemption. Women know what customers want and are quick to realize their needs. That’s why women CEOs are able to package and market services better than their male counterparts. Women leaders are also known to communicate well with their clients.
Vision
The end-goal for entering business is usually money but women are able to see past that. They care about tons of things aside from just positive revenue. Some of these include their employee happiness, other ventures, designing the workplace, collaboration mediums and many more. This heightened corporate vision also enables these women to be well-rounded. Such traits are crucial when managing businesses as they are able to place themselves well in any situation.
Practicality
Yes, women are quite practical. When packaging services to offer, sometimes men tend to fluff it all up with value-added services that they overlook practicality in the long run. Sometimes, understanding the basic and authentic needs of the customer is all that is needed to make a business successful.
The rampant growth of “womentrepreneurs” has clearly made a huge impact on the business world. With more bright minds entering the industry, the world will definitely benefit from it and will bring us an awesome future.
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