• MIDAS

Myths around Women Entrepreneurship

Updated: Mar 4

By Coach - Pooja Shah, Personal Mastery ( Transcend )




Running an enterprise is a demanding job that requires extreme persistence and solidarity to drive forward, disregarding the gazillion challenges. However, in a world that has been traditionally dominated by men and patriarchal ideas, it has become even more critical for women to break the boundaries and the gender stereotypes be able to create an impact on global markets. Having a business empowers women to be financially independent and in today’s changing time you can continue to run the business anywhere at any time and even if you are married, which may not be the case if you are working as an employee.


WOMEN ARE NOT STRONG LEADERS

Why are women across generations still subject to the same old stereotypes? We must remember, women are born NATURAL LEADERS! Today the world has started appreciating empathy as the key personality trait for a successful entrepreneur and my years of experience as a business coach made me realize how the higher emotional quotient in women is their actual strength as a leader and an innovator. Demonstrating leadership skills and making effective decisions is more about the quality of work rather than the quantity of time you spend at the office. Today, companies need family-friendly policies to attract better talent, which helps spur productivity for the entire company. Women are people with conviction. They have the convincing skills of a professional (let’s not forget the extra dhaniya she gets from the vegetable vendor) and if they can seamlessly bind the entire family together, how does the question of not being a great leader even arise?


WOMEN ARE NOT NATURAL ENTREPRENEURS

This is the most common misconception that women aren't made to be entrepreneurs. In my experience, all these management theories that we learned are from the kitchen or the army. And we are people who know how to manage our things. We can whip an entire exotic dish with just a few leftovers from the previous night’s dinner within minutes, for the surprise visitors. Thus, my only advice to struggling entrepreneurs would be not to let any gendered notion of the world bind you. The only requirement for success is a strong understanding of the industry, along with professional skills. Women entrepreneurs like Falguni Nayar – Founder of Nykaa, Kiran Mazumdar Shaw – Founder of Biocon Limited have busted this myth, and you can too.


LACK OF SUPPORT FROM THEIR ECOSYSTEM

“Women are not supportive of other women” I would completely disagree, especially if I take my example because the one person who continually encourages me is my mother. It was decades ago when this kind of a myth even prevailed, but it’s no more a reality now. Even at MIDAS, I witnessed that we have so many women on our team because I feel they are very particular and organized. Especially in an industry like mine, which is education. If women are mentored and trained today to take up challenging roles in the business, they will eventually open doors for more women in the business.


THINGS ARE CHANGING FOR WOMEN ENTREPRENEURS

They say that things are changing, while women are already at par with men, they are also catching up with men in business, but are they? Women being independent financially is making a lot of difference. But I do not believe that things are changing at the pace that they should. So let's stand up for each other, encourage each other to create our businesses.



FAMILY BUSINESS IS NOT A PLACE FOR WOMEN ENTREPRENEURS TO THRIVE

On the contrary, research has shown that the participation of women in the family business is increasing in India. Today business families are welcoming their daughters-in-law to play pioneering roles in their family business. Focused approach, business acumen, eye for quality, and the drive to prove themselves against the socio-cultural biases have led them to contribute successfully to the family business. When a family encourages women to be independent, it creates a happy and more evolved life for everyone at home. At MIDAS, we have successfully inducted several women entrepreneurs in their family business where they can play on their strengths and contribute to the growth of their business. As the number of women entrepreneurs increases albeit the challenges, they face our ecosystem needs to focus on giving them the right mentoring and support to ensure not just the success of the women-owned business, but the future of business entirely.


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