Oct 16, 2015
From the Global Enterprise Institute
It’s true that it takes a certain kind of person to start a business and become a successful entrepreneur. What’s more, to become a successful female entrepreneur there are specific qualities that one must embody to lead and propel companies to their highest levels.
So what exactly are those traits?
In a recent KPMG survey of 200 women entrepreneurs on the Inc. 5000 list we take a look at the traits and explore the key factors that female entrepreneurs cite as core to their success.
Why do some women seek entrepreneurial endeavors, rather than more traditional areas?
50% of the women entrepreneurs wanted to control their own professional destiny. In fact, according to our survey, two key factors motivate women to launch companies: a desire to control their careers, and the opportunity to leverage their expertise to create something new.
Check out the full whitepaper to learn more about what motivates women entrepreneurs.
What are some of the top challenges that women entrepreneurs face?
Women entrepreneurs said some of the top challenges they face in building their businesses include hiring the right people, time management, and managing cash flow through lean times or funding growth. Here are the top five biggest challenges women face in building their companies:
Top five biggest challenges sorted from most challenging to the least challenging.
- Hiring the right people
- Time management
- Managing cash flow through lean times and/or fund additional growth
- Developing sales forecasts and hitting those targets
- Creating the right technology infrastructure