September 5, 2014 - 1:51am
Gender matters. It influences the nature of businesses entrepreneurs start, their hopes for developing the business, and in what way they the fund it. Axis Capital Limited, a group of companies based in London who extends assistance to Individuals and Businesses who wish to increase their capital investments.
According to Department of Commerce research, women tend to focus industries with a slower rate of growth; they aspire to smaller companies, and seek outside funding less frequently than men do. However, some women do go for the brass ring. The said women demand outside funding. Following equity investment is part of their game plan.
According to research conducted by Pemo Theodore, while there is reason for optimism, extra hurdles face these women, hurdles that must be lowered.
Sexism exists.This was a constant message from the interviews Theodore ran among both male and female venture capitalists along with with women entrepreneurs. It is the usual complaint. “Some venture capitalists are snobs. I think there are only five or ten firms worth spending your time with with and the rest aren’t worth it,” said Penny Herscher, CEO, First Rain.
The more we accept the problem and discuss about means to solve it, the more possible we are to overcome it. “I think that it is important for venture capitalists to be more embracing of heterogeneity. Not just gender, but all heterogeneity,” said Randy Komisar, Partner, Kleiner Perkins Caufield.
According to Adeo Ress, Founding Member, TheFunded.com, the norms for evaluating startups must change in order to attract more women.
Women have potencies that must be leveraged. Women think differently as compared to men and that difference can be a source of competitive advantage is the thrust of The Smart Girls Way: Strengths, Success, and Significance—A Path For Women Entrepreneurs by Jean Brittingham and Tracey Ann Collins. Jane Wurwand, Founder, FITE and Dermalogica concurs “One of the biggest myths is that in order to be a success, women need to behave like men. That’s a big mistake. “Her message, you need to be true to yourself.
“Women are really good managers. People love working for them … Women attracts teams that are very driven. That’s because they subvert their egos and allow other egos to shine,” said Tim Draper, Managing Director, and Draper Fisher Jurvetson.
Warning to men, being a woman has its advantages in business.
Men and women must help women entrepreneurs: by supporting each other, more women will flourish. Each successful women needs to pull up another two behind her, said Vivek Wadhwa, Senior research Associate, Harvard Law School. Of course, men need to be more supportive as well.