Debunking Myths and Misconceptions about Female Entrepreneurs

Female entrepreneurs have been making waves with their endeavours across industries. From the CEO of Canva, Melanie Perkins, to Mining Mogul Gina Rinehart, the list of women proving their mettle in the commercial world has become quite long. The phenomenon can be seen worldwide, with names like Mary Barra of GM and Safra Catz of Oracle becoming a force to reckon with. Women are breaking the glass ceiling and entering the domain of entrepreneurship in large numbers with the help of innovative ideas, resilience, expertise and family support.

However, they still have to deal with awkward glances and demeaning statements from their male counterparts. Gender stereotyping has been prevalent in the business domain because of the absence of women in powerful positions. With the dynamics changing in the current era, female entrepreneurs are overcoming these challenges to carve a niche. We are debunking some common misconceptions about female entrepreneurs to break the chain of typecasting women. It is vital to understand this to work with and under women without apprehensions about their abilities.

1. Women Are Only Good At Lifestyle Businesses

Fact: It is a common misconception that women are only interested in lifestyle products like cosmetics, fashion, accessories, books, jewellery, home decor, etc. This is a typical case of stereotyping because women are considered homely with an interest in beauty and homecare. The patriarchal mindset must be changed because women are now present in every industry and taking the lead to reach the top.

Female entrepreneurs can be found in industries ranging from IT, healthcare, education, and food to manufacturing and finance. Many women are taking entrepreneurship by purchasing a business for sale Sydney, operating in high-growth domains that promise success. It gives them a stable foundation to develop a venture to help them succeed and meet their goals. With 22.3% of founders in the country being women, it is imprudent to believe they are restricting themselves to fashion and lifestyle.

2. Women-Owned Businesses Often Fail

Fact: It is a misconception that stems from gender disparity in society. Since women are considered weaker, they are not given due respect. Most men in the industry do not trust female entrepreneurs to make it big. They question their credentials and abilities. However, women own many high-performing businesses, such as Harvey Norman by Katie Page, Sweat App by Kayla Itsines, Boost Juice by Janine Allis, Flamingo AI by Catriona Wallace, etc.

Women have been running highly successful businesses, such as Bobbi Brown, Kylie Cosmetics, ActOne Group, ASI Computer Technologies, etc. If women entrepreneurs become equal to male business owners, the economic opportunity will be between $71 billion and $135 billion for the economy.

3. Women Are Unable to Balance Work and Family

Fact: Most men think women cannot balance family responsibilities and leading an organisation. Women are equally dependable and prioritise work while managing family duties. They are not taking a backseat even after having children and continue to set examples for other women in the workforce.

They know how to find the perfect work-life balance and do not neglect one for the other because both hold special significance in their lives. They delegate work, schedule their work in advance, and follow timelines to manage the business effectively. They find support at home to leave the kids in good care and continue to perform brilliantly whether they acquire a business for sale in Sydney or start it from scratch.

4. Women Are Bad At Financial Management

Fact: Business owners must be good at crunching numbers because they need to understand the financial statements, invest wisely, spend judiciously and pay taxes correctly. It is a misconception that women cannot do simple math. They manage their own money and have been creating household budgets for ages. They have proven their financial acumen by serving at top positions in financial institutions, such as Lael Brainard, the Director at the National Economic Council, and Rachel Lord, the Senior Managing Director at BlackRock.

Every business also needs a bookkeeper and accountant to manage finances. Thus, women entrepreneurs can always rely on professionals and accounting tools to generate reports, identify trends, pay debts on time, increase profits, manage cash flow, and file taxes. They are excellent managers and do not waste resources that can push the business into losses.

5. Women Are Unable to Negotiate Effectively

Fact: Negotiations are an integral part of running a business. Whether it is negotiating a contract with suppliers and stakeholders signing the lease, entrepreneurs have to excel at persuasion and manipulation to sign a favourable agreement. However, men think women cannot turn things in their favour and lack diplomacy and tactfulness.

It is a complete misconception that women cannot negotiate. They are pretty good at meeting their terms because they are less aggressive and self-centred. They can handle tough situations calmly and consider all factors before making decisions. On the other hand, men get offended easily and have more chances of walking out without closing the deal.

6. Women Become Emotionally Involved

Fact: Running a business does not mean the owner must be heartless and cold-blooded. They can be emotionally connected to the venture they started from the ground up. It has nothing to do with gender. Being emotionally involved with the business ensures they are always motivated and dedicated to their goals. It gives them the resilience to stand up after falling down and never lose focus.

High emotional intelligence can help entrepreneurs become better entrepreneurs even when they have purchased a Sydney business for sale. It helps them forge strong relationships and maintain a friendly demeanour that helps to keep the employees and customers satisfied.

7. Women Entrepreneurs Are Not Risk takers

Fact: It is a myth that female entrepreneurs do not take risks. They make informed decisions and do not jump on the bandwagon without testing the waters. They ensure the future is secured and they are making the right decision. Thus, they take time and follow the path that proves successful in the long term.

They are visionaries and resourceful individuals who know how to achieve goals with minimum resources. They conduct research and take risks when they are confident about the results, which makes them better at their jobs.

Wrapping Up

Women are zealous, determined and go-getters who are not deterred by challenges. They are confident and smart workers who can lead a team without problems. Thus, females planning to buy a Sydney business for sale or launch a start-up should not feel discouraged and focus on their goals.