Exec Wranglers is proud to be a women-owned business with an all-female executive board. While this setup is becoming more common, there was a time it would’ve been considered pretty radical. Even still, the number of women in leadership positions pales in comparison to their male counterparts. According to a publication from the Stanford Look Closer Series, only 25% of Fortune 100 company C-suites are led by women, and thanks to the fact sheet published by Judith Warner and Danielle Corley, we know that women in finance, law, medicine, and academia, hold notably less high-ranking positions. Unfortunately, these industries are greatly missing out, because women make great business owners!
Women tend to be less ego-driven. In a study from the Center for Entrepreneurship, it was found that women described their success in terms of their company’s performance, whereas men described their success in regard to their personal performance. Ironically, the study found that those same women were excelling individually. A leader who demonstrates higher levels of personal reflection, coupled with the willingness to be franker about their concerns and failures, creates a culture of growth and enterprise within the organization.
Women are not afraid to ask for assistance. Because maintaining a particular image is not their primary priority, women are more likely to ask for guidance if they’re unsure of something. You’ll find women leaders bringing on advisors who can help make the best choice for the company. Stephanie Fritts, Exec Wranglers’ CEO, for example, has a whole team of female entrepreneurs who share their advice and expertise. We are firm believers in the power of delegation and collaboration – because it produces measurable results!
Because women often have a “we before me” attitude, they make their employees feel valued! They’re not afraid to share credit for a job well done, which in turn makes employees more invested in the work they’re doing. And since their input and feedback are actually considered, employees are more open to collaboration and input. Empathetic leadership means that women business owners are more likely to view their employees as humans as opposed to cogs in a machine, creating a healthier work environment for all.
Some may wonder if the above actually makes a difference on the bottom line, and according to the Harvard Business Review, it does. Women-owned companies have a “35% higher ROI than companies managed by men. When it’s venture-backed, the number further increases by 12%.” This finding means that women-owned companies perform better, and they are a safer bet for investors. While they can’t yet scientifically say why this phenomenon exists, one might consider that women are responsible for 80% of consumer spending, and therefore perhaps the ultimate authority on what products or services are missing in the market.
Exec Wranglers are privileged to support multiple women-owned businesses, getting to witness their excellence daily. How is that helpful to you? If you’re a women-led business, we are already speaking the same language, and if you’re not, perhaps some of the above reasons are enough motivation to enlist our team as we’re prepared to contribute to your success!
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