To make a start-up ride on the wave of success, its founder must know the art of bootstrapping.
Maintaining cordial relations with investors or infusing confidence in a small team, to take a business forward in its formative years is something a leader needs to learn.
Where to raise funds from? How to get the attention of investors?
Some serious questions every entrepreneurs face is budgetary constraints to deal with and to achieve realistic goals without letting one’s ego come in the way.
Do such traits and abilities come naturally to women? Are they better at leading bootstrapped ventures? Well, their track record certainly vouches for that.
Let’s discuss their certain traits that truly justifies the above statement.
She is a Conversationalist
Generally, women are fine conversationalists, and when they are in the shoes of an entrepreneur, this trait greatly helps them.
This is why a woman entrepreneur is able to build a confident and respectful environment around her colleagues more often than not, which is so crucial in the early days of a start-up.
As she is a good communicator, she is able to motivate her team in a balanced manner, without overdoing or downplaying it.
Moreover, she is able to empathize better with her colleagues which creates a collaborative environment, therefore allowing everyone to nurture their skills.
Also, for a bootstrapped business it’s important to have an amicable relationship with suppliers who are willing to extend credit. Better communication skills make a woman a better negotiator as well.
She is likely to go with a win-win attitude on the negotiation table.With such an attitude, not only she succeeds but is able to keep amicable relations with her rivals.
From a business standpoint, it certainly has healthier outcomes, as her rivals don’t see her as a threatening competitor but someone with whom they can grow along.
She has Empathy
When the team size is small, trust becomes even more important to function productively. If the leader of that team is a woman, rest assured of an empathetic environment all around.
Empathy imparts fine listening skills to women, which make them likeable among team members, vendors, and stakeholders. The art of listening is a big plus in the formative years of a business when a team is being built from the scratch.
In such an environment, people express themselves without any fear of being judged. They understand that their words mean something to their leader, which leads to productive discussions.
Developing such an equation among team members while being bootstrapped, goes a long way in the growth of a business.
She is a Multi-tasker
If you want to learn how to balance your work and personal life, learn it from a woman. Managing their time and life or donning multiple hats comes naturally to a woman.
This balance brings clarity in their thoughts, and they are able to focus better on their new ventures. In a start-up environment, situations of crisis occur frequently.
As she is clearer in her head, a woman handles such situations more calmly and come up with foolproof solutions.
Therefore, as a leader, one needs to be agile and should be able to perform various roles in various capacities.
A leader who is a multi-tasker becomes a source of learning for the team members, who may be from different departments like marketing, development, or human resource.
Women are yet to tap their full potential within the sphere of entrepreneurship. Through this write-up, they might see themselves in a different light.