What Does It Take to Become a Successful Woman Entrepreneur?



What Does It Take to Become a Successful Woman Entrepreneur?

Introduction

Entrepreneurship has been globally felt as a developmental & progressive idea for business world. Therefore entrepreneurship is considered as vital ingredient for not only globalization but at the same time for creating diverse opportunities for future potential performers. To exploit the human resource to their optimum potential is one of the greatest challenges faced by innumerable business organizations in the contemporary economic world, where progress is quantified and consumed as an entity. Entrepreneurship or self-employment has long been shown to be a way out of poverty, a mechanism for job creation and self-esteem, and a boost to the economy of the nation .

Entrepreneurship has also been used as a vehicle to help individuals achieve their dreams, add value to society, and enhance career opportunities(Herring). Entrepreneurship has been used as a vehicle by minorities to curb discrimination in employment, build wealth, and reduce discrimination in the economy. To obtain and sustain business success, entrepreneurs have maximized the use of internal personal attributes such as motivation and organizational and leadership skills with fundamental requirements such as capital, experience, education, and access to mentors and networks.

According to the 2002 Survey of Business Owners conducted by the U.S. Census Bureau, entrepreneurs worked overtime, were trained in various business areas, and were dependent upon individual business income for their livelihood. Entrepreneurs must be risk-takers, be motivated, and possess the energy to see the business through. Entrepreneurs must undergo self-examination to ensure they are willing to perform the necessary tasks and have the necessary skills (such as management, leadership, organization, and technical skills) or are willing to acquire the necessary skills. There is still a debate as to whether entrepreneurs' characteristics are genetically acquired or, as various scholars contend, entrepreneurship skills as tenacity, confidence, risk-taking propensity, and leadership can be learned. Regardless of the entrepreneurship characteristics of vision, passion, tenacity, and hard work, individuals become entrepreneurs for various reasons, including becoming one's own boss, building wealth, adding value to society, obtaining a sense of achievement, and fulfilling a dream.

Entrepreneurship is not just confined to any one gender now rather due to multi-faceted economic pressures women have turned up & realized that the survival of their families & their own potential lies only in working side by side with men. Education of woman have no doubt given them immense confidence & encouragement to serve & discover new business avenues. However the ground realities do differ to a great extent as far as geographical boundaries are concerned Globally women are considered as weaker gender physically and emotionally, therefore prospects open for them to develop into business professionals is an area still quite unexplored and needs attention.

Overcoming the challenges of business world are no doubt more treacherous for women than their male counterparts, therefore they undergo various impediments to achieve their business success. Fortunately due to technological advancement & means of communication the world has turned into a ...