7 Traits of Women Entrepreneurs

Today (while sitting on the couch), I was dreaming of my future entrepreneurial aspects. I know I want to open my own business (of course, what I want to do is still to be determined). I know it’s going to take a solid financial foundation (to beable to pad any issues that may come up in the future – see ‘projected sales’ bottom of paragraph – $68K of debt to take on – ouch!).

Woman Entreprener

A financial foundation will take some time to build, but I am curious to know if I even harbor the skills to be a decently successful woman entrepreneur. What traits do these women have that make them great at what they do?

Well, I turned to an article witten by Amy Grossman, MBA. She empowers women at midlife and beyond to turn their interests, strengths and experience into a business of their own to generate an income, find meaning in their work, and live a balanced and fulfilled life (I think I will consider using her services after I am done with Karen Knowler’s Raw Professionals Online course). Sounds credible enough for me to consider these traits true. Let’s see how I fair out:

7 Traits of Women Entrepreneurs

First, here is my definition of an entrepreneur:

“An entrepreneur is someone who sees an opportunity to be in business for herself and takes it. She creates something that did not exist before and takes the risk required to do so.”

Based on my personal observation of many women who get the entrepreneurial call, women entrepreneurs have 7 traits in common. This holds whether they plan to launch a business that grows to be big, or they plan to keep it small – possibly as a solo-entrepreneur and home-based.

1) Autonomy. Entrepreneurs have a strong desire for autonomy. Women at midlife often lose patience playing by corporate rules and want to call their own shots and put their own values first. [Definitely, yes]

2) Resilience. Entrepreneurs have the ability to bounce back from setbacks. It takes resilience to get through the roadblocks that will inevitably show up. At midlife and beyond, women have learned to be resilient, as they’ve weathered life’s ups and downs. [Definitely, yes]
I have weathered many downs and always fought to get back up.

3) Initiative. Entrepreneurs are self-starters. The most successful entrepreneurs also keep the momentum going after the initial burst of energy.
[Yes] But I could still use some practice in this one. I need someone to help me keep direction with my momentum.

4) Confidence. Entrepreneurs believe in themselves and get others to believe in them too. They have the confidence to find the resources they need and the ability to ask for help and support. [No] Ouch, not good. I definitely need practice with this aspect. I need to build confidence for my company and me. Anyone know a good way to build confidence?

5) Intuitive. Entrepreneurs have good business instincts. They use left-brain rational thinking to analyze problems, but they also trust their intuition, which is often correct. Women tend to trust their intuition in business more often than men. [Yes] I do listen to my intuition. Although, sometimes I don’t catch it fast enough. I need to learn to be more intuned to my intuition.

6) Decisive. Entrepreneurs are action oriented. They make decisions and take the actions required to get them to their desired results. Midlife women have had a lifetime of experience to fine-tune their decision-making ability. [Yes] At least at work, I do what is necessary to get a job done.

7) Connects. Entrepreneurs build relationships. They build networks and thrive on seeing opportunities for connections for mutual benefit. At midlife, women have well-developed networks, which is an advantage in starting and sustaining a business. [No] I need to get out in the world and build networks. I have thought about joining the city’s womens club (and not just for the fashion show luncheons – lol)

This is not the definitive list, but I invite you to use it as a checklist. Rate yourself on each trait.

How entrepreneurial are you?

While lounging at home this weekend, I’ve learned that I need to learn to connect and build confidence. I am going to need to look at exercises and/or avenues to build these aspects. If you have any great resources, please let me know. 🙂

Amy Grossman, MBA, empowers women at midlife and beyond to turn their interests, strengths and experience into a business of their own to generate an income, find meaning in their work, and live a balanced and fulfilled life. For a FREE “Business Starter Kit” on how to create meaning and money at mid-life, visit www.BoomerBusinessLauncher.com.

6 thoughts on “7 Traits of Women Entrepreneurs

  1. Sharon

    I doubt I could ever be an entrepreneur. I failed about 3 of the areas above…resilience, autonomy and initiative. I guess I’m just plain tired…perhaps if I were 10 years younger?

    I’m looking forward to hearing about what you would like to do! This sounds like an exciting path!

    1. admin

      The good thing… least you realize entrepreneurship is not for you. So then you play on your strengths instead of your weaknesses. I have done it reverse many times… trying to strengthen an area I am not and waste a bunch of time & effort. Then again, maybe this is how i find out what I am good at. 😉

      I look forward to my journey ahead, too! And it’s not so much for the money, but for peace of mind as I gain in years. 🙂

  2. mo

    I am bad at decision making and getting others to believe in me. other than that am sailing!

    1. admin

      I am decisive only when I know all aspects of the area I need. If I don’t, I have a knack for great procrastination. lol.
      As for getting others to believe in you… I’ve been told that you should be able to define your business in one sentence. If you can do that then you have a clearly defined business. With that, you should be able to get your fellow followers. 🙂

      I think the other aspect is finding mentors or someone who can help in your areas of weakness. That is why I took on Karen Knowler’s plan. I have a hard time with keeping on course and delegating. I need someone to show me how to effectively build a business. And there are plenty of people willing to help. 🙂

  3. FB @ FabulouslyBroke.com

    Resilience is definitely #1 for me. Being an entrepreneur means you deal with everything, all the ups and downs in every department rather than being able to pass the buck somewhere else

    1. admin

      But I bet you wouldn’t trade it for anything! You’re right… you are responsible for everything. Especially if you want the money to roll in! Thank you for your input. 🙂

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