8 Traits of Successful Female Business Owners
By Alayah Walls
The rate of businesses owned by women, such as NeigerDesign, is quickly growing throughout the United States and the world. Women now make up 40% of new entrepreneurs in the U.S., while global female entrepreneurship rates have also increased by 10%.
There's a reason why successful female business owners are, well, successful. They are able to overcome the many challenges facing them in order to start their own companies. But how? Of course, no two women are alike—they all have their own stories, but these are some of the common traits found among successful women who started their own businesses.
This should be no surprise. Women who start their own businesses are extremely ambitious. They go after what they want, whether it's creating a successful business or changing the world, and even if it means taking a huge risk. They always aim for the top, and are never comfortable settling for second place.
These women aren't just doing things better in order to achieve success, they're doing things differently. They're thinking of new ways to solve old problems.
Take Ellen Latham for example. She founded the fitness chain, Orangetheory Fitness, whose metabolic training tactics completely reinvented the typical workout. Now Orangetheory has 630 U.S. locations and is the nation's fastest-growing women-owned company, according to Fortune.
Success and failure go hand in hand. Women business owners know how to deal with the disappointment of failure, and still remain positive and hopeful for the future.
Women with their own businesses are passionate about what they do, largely because they tend to create businesses based on what they love.
For example, Anita Roddick was passionate about social and environmental activism, so she created The Body Shop—a pioneer in the prohibition of animal-tested products.
In business, it can be a challenge to balance confidence with cockiness. But in order to start your own company, you have to believe in yourself. Female business owners are confident enough in themselves to earn the respect and trust of their colleagues and clients.
There are many challenges of starting a business, and women-owned businesses can have additional challenges on top of those, such as not being taken seriously when raising capital from male investors. And when the business is finally created, there will be even more inevitable ups and downs.
Successful women business owners are persistent. They don't take "no" for an answer and they never give up.
Although they are business leaders and CEOs, good business owners don't claim to know it all. They are always willing to learn, improve, and adapt in ever-changing industries for the sake of the company.
These women don't take how far they've come for granted. They give credit to everyone who has helped and is still helping them along the way.
They work hard.
There's no way around this one.
Women who own businesses have worked extremely hard to start and maintain them. They say hard work is the secret to success, and these women have put in the long hours and made many sacrifices to get where they are today.