How Are Female Entrepreneurs Different From Male?

To be an entrepreneur, there are personality traits that one must possess. You must have vision and confidence to realize your goals and see them through. You must have a passion for your idea, whether it’s a new concept or an improvement on an existing one. Confucius was right to declare choosing a job you love means never having to work a day in your life. Another trait possessed by entrepreneurs is tenacity and the ability to bounce back from failure. Obstacles will always be there, and they need to be faced and overcome. A strong work ethic and flexibility also separate entrepreneurs from status-quo seekers. 

More entrepreneurs are male, but America has come a long way towards bridging that gap. There are currently over 12 million female-led small businesses in the U.S. since Congress passed the Women’s Business Ownership Act. in the 1980s. H.R. 5050 was created with the National Association of Women Business Owners (NAWBO) to provide women additional resources and to eliminate discrimination concerning lending. 

Prior to the Act being passed, there were women already making history. The first female entrepreneur lived in the early 1900s as a daughter to former slaves. Orphaned at age seven, she sought to find a solution to her dramatic hair loss, caused by a scalp ailment. She invented her conditioning and healing formula called Madam Walker’s Wonderful Hair Grower. Within a year, she had opened her factory and beauty school. Within two years, her company was making multi-million dollar profits by today’s standards. Seven years later, Madam Walker held one of the first-ever national businesswomen meetings, called the Madam C.J. Walker Hair Culturists Union of America convention.

The top 10 list of influential female entrepreneurs includes household names such as Oprah Winfrey and Sheryl Sandberg, but not all of them are in the public eye. 

Male and female entrepreneurs have differing views about crucial character traits, with more women than men considering multitasking, empathy, and creativity to be strengths. Men listed confidence as the most valued trait. Studies show they differentiate from their male counterparts in how they structure their businesses and work-life balance. Women are more likely to hire from within the family, as opposed to men. In addition, while both men and women make personal sacrifices for their businesses, women tend to limit self-care and social life. Men limit family time with their spouses and children. 

There are also plenty of similarities, with the top regret being not enough time spent with loved ones and listing the most significant accomplishments as the ability to support their families, doing what they love, and being their own boss. 

This article was originally published on https://FerneKornfeld.com/

Published by Ferne Kornfeld

Based in Palm Beach, Florida, Ferne Kornfeld is a Principal and Commercial Finance Consultant at Value Capital Funding. Throughout her extensive career, Ferne has over 20 years of experience in the financial services industry. Even more, Ferne possesses thorough and comprehensive knowledge of corporate finance. Ferne, as well as her business partner and husband, Barry Kornfeld, believe in always doing what is best for the client. This philosophy is very hard to find in the world of finance, but they make it their mission. After working within the finance industry for years, Ferne and Barry began to realize there was a gap in the market’s offerings. Companies and businesses, most of them being small businesses, were incredibly over-leveraged but seeking solutions that often led to even more loans & debt that they were trying to alleviate in the 1st place. These small businesses’ applications were often declined due to the amount of money such companies already borrowed. Ferne and Barry soon realized that what these businesses were truly seeking was a way to restructure their debt, not accrue more. Ferne Kornfeld and her husband have decades worth of combined experience, which gave them the thorough background they needed to begin speaking to investors and lenders, creating a niche and revolutionary approach to financing and funding for businesses. With such an incredible niche specialty, and when attending association meetings, they found that no one else offers what they do. Unlike their competitors, Ferne and Barry don’t aim to only lend money. They have gravitated away from pure lending and work almost exclusively to restructure loans so that their clients can manage their debt without taking on more debt.

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