While women in the upper echelons of corporate America are singing the same old tune, “Still No Progress After Years of No Progress,” female entrepreneurs have something to rejoice about.
There is room for improvement, but the U.S. ranked #1 among 17 countries on having the conditions that foster high potential female entrepreneurship, according to Gender-Global Entrepreneurship Development Index (GEDI).
Some of the 11 reasons women entrepreneurs will crack glass in 2014 are common to all women and others are unique to entrepreneurs.
1. Women have the right stuff
Women make better leaders than men, according to research conducted by Zenger Folkman. “They build better teams; they’re more liked and respected as managers; they tend to be able to combine intuitive and logical thinking more seamlessly; they’re more aware of the implications of their own and others’ actions; and they think more accurately about the resources needed to accomplish a given outcome,” said Jack Zenger and Joseph Folkman in Forbes.
Two research reports find that women deliver better company performance.
Two research reports find that women are better money managers.
3. Diversity improves performance and increases innovation
Organizations that are the most inclusive of women in top management achieve 35% higher return on equity and 34% better total return to shareholders versus their peers – and research shows gender diversity to be particularly valuable where innovation is key.
4. Untapped spending power
With 80% of consumer spending controlled by women, and women having considerable influence on spending categories that are considered the domain of men that is a whole lot of purchasing power for products and services developed by women.
5. Women use the power of their portfolios
Women and wealth trends bode well for more women investing in women-led business. Women control more than half of the investment wealth in the U.S., according to Mary Quist-Newins author.
6. Men are bullish on women
It’s not just Warren Buffett who is bullish on women. Vivek Wadhwa , academic, writer, and entrepreneur is a vocal critic of the underfunding of women-led companies by Silicon Valley and a supporter of women-led businesses.
7. Women are building a vibrant and layered ecosystem
There are tons of networking groups to choose from. Some are general in focus and have been around for a long time, others, are focused on specific types of women, such as those starting technology companies.
There are organizations that provide leadership training, access to capital, and connections to accelerate the growth of women-led companies.
8. Women are shedding their cloak of invisibility
9. Women are starting to blow out their networks
Women are beginning to get the importance of networking: The bigger and more diverse your network the more likely your business is to break revenue barriers.
10. Women never stop learning
Admitting that you don’t know everything — and never will — is key to growth. Women share,women listen, read business books and publications, and attend professional development training, etc. We are also learning to seek outside counsel from mentors, sponsors and advisors, and participate in peer advisory groups.
11. Some women use failure as a launching pad to success
Women tend to be perfectionists. But, the truth is, no one will succeed all the time. We learn more from our failures than our successes.
To read more about what people are saying about this topic go to Forbes.