In India, women entrepreneurs and their increasing emphasis are having a significant impact on the country’s socio-economic demographics. Female labor force participation has helped millions of families lift themselves out of poverty and created jobs. Known for their leadership qualities, women dominate the New Age sectors. Women’s contributions to the modern workforce have been highlighted by their positive attitude to work and outstanding entrepreneurial skills.
Increasing female labor force participation in India could add $700 billion to global GDP, according to McKinsey Global report. The survey goes on to say that companies run by women give the economy a significant boost. There are 432 million women of working age in India and 13.5-15.7 million women-owned businesses directly employ 22-27 million people. In addition, a large percentage of companies are run by women. Indian women are self-sufficient and eager to start their own businesses.
Women Entrepreneurs – Real Value Creation in the New Era
Every slight push symbolizes the beginning of a new era. At a time when women around the world are fighting for equality, work-life balance and gender parity, an industry has emerged that has put women in the spotlight. In the digital world, women are setting the bar for a new generation of entrepreneurs who add value to the company through their talent and talents.
Here are the talents and skills that inspire women entrepreneurs to run any type of business.
Successful entrepreneurs are visionaries who see opportunities. They know exactly what they want to achieve. In addition, successful entrepreneurs are able to bring this concept to life. An entrepreneur needs to run her business in addition to having a vision. She will be responsible for a large number of employees as well as dealing with customers, suppliers and investors. Another quality to cultivate is self-confidence, because believing you can do anything is half the battle!
One of the main reasons holding women back from business is the lack of market connections. Many business women miss out on fantastic opportunities due to a lack of connectivity. For women who want to start a business or already have a business, it is crucial to network with other women entrepreneurs. Networking can also help them connect with specialists such as lawyers, financial experts, and government officials. Networking is a crucial talent for entrepreneurs, and being a strong communicator is also important.
Excellent written and verbal communication skills would be a great asset. A woman entrepreneur must be able to deal with difficult situations. When it comes to running a business, arguments and awkward conversations are inevitable. As an entrepreneur, you need to spread the word about your business by speaking to people and giving presentations. Any problem can be resolved without escalation with proper communication. As a result, it is crucial in the path of an entrepreneur.
Sales and marketing skills
When it comes to starting a business, sales and marketing are the two most important skills. A business is worthless if it doesn’t have a customer base that generates revenue and profits over time. Consumer expectations are changing and the business model must change with them. Today’s consumers want to buy things from people they can trust. Companies with a strong brand can effectively communicate their goal and purpose. Businesses need to be able to promote themselves and have sales talent to attract customers.
The most important skill for every entrepreneur. Women are often excluded from important financial decisions or denied access to financial resources. Many women often complain of being taken advantage of because they don’t know the basics of accounting. The ability to manage money well is a much-needed skill that every woman should have. So spend some time with a certified public accountant and legal advisor to understand the nuances of the financial and legal implications.
time management skills
An entrepreneur’s ability to plan a day and manage time is very important. All you need to learn is how to manage your time and prioritize your tasks. However, as an entrepreneur, efficiency is key to reflect daily activities with time management. Knowing when to stop work and when to stop to focus on being a wife, mother, or daughter is part of effective time management.
Women entrepreneurs are changing the world for the future
Women entrepreneurs in business have the potential to change the world. Even if they have the right background and all the talents and skills, starting a business is never easy as there are no magic formulas to ensure business success. However, mastering basic skills will make the incorporation process a little smoother and give a better chance of seeing the company grow and thrive! There is still a long way to go before we see equality in business, but things are changing. And it’s for the better! In fact, only the biggest will be good enough! In short, skills and talents empower women entrepreneurs and give them a competitive edge for progressive growth.
(Written with input from Dr. Sunil Shukla, Director General, WeAct)