Over the last few decades, it has emerged as conventional wisdom that women are more entrepreneurial than men.
The list of reasons behind this phenomenon is long. Faced with glass ceilings in many large organizations, some females see less risk in walking away from a secure job because the brass ring appears out of reach.
Entrepreneurs enjoy more flexibility. If a business owner wants to structure her job so she can spend quality time with her children or other family members, she doesn’t need to get her boss’s permission.
Just take a walk through a drugstore or supermarket and look at who is the primary customer. Estimates are that females represent more than 60% of the shoppers at most mass market retail outlets. Sophisticated consumers are often female. Many are more likely to spend serious time shopping and perceive needs for new products than men who are stopping in and out of stores quickly to pick up shaving cream, six packs and baloney sandwiches.
Beyond questions and stereotypes, perhaps the most interesting question is what are the common traits of successful female entrepreneurs. This was the topic of a presentation given by Kevin O’Leary of the hit TV show Shark Tank at last month’s Invest In Women conference in Dallas.
Half of the portfolio companies O’Leary has invested in are run by women, yet they account for virtually all his positive returns. Before these ventures got off the ground, they had to get financing.