While coaching male and female entrepreneurs over the past 17 years, one question has kept bugging me.
How come women entrepreneurs, while having a higher rate at succeeding in business, earn less than their male counterparts?
Is it that men are more effective or productive? Certainly not. The answer is actually quite simple. Most men are motivated by making money when starting a business, while women are interested in more flexibility, a better work-life balance, fulfillment and the freedom to stay home with their kids.
In short, men and women go into business for different reasons.
This doesn’t mean that women can’t improve their money making powers – and stay true to their priorities. I have found that in business women can benefit greatly from adapting some of the male principles to emphasize their own skills and talents. This includes speaking clearly, “learning to toot your own horn” and expecting great results.
Below I have listed 8 things that you can pick up from men in business. Take a look:
1. Just Do It. One of the big advantages men have in business is that they love taking risks. It’s all right to be cautious and considerate when it comes to your business. Yet, nothing will happen until you take action. If this is hard for you, find a partner who has your back and who encourages you to take the first steps.
2. Apply Strategy. Did you ever notice that men think very linear? They focus on finding solutions to problems, setting and reaching goals, developing plans and executing tasks. In business this is essential. If you learn to apply strategy, have clear goals and make sure you follow through on your plan, you will reach your destination.
3. Stay Focused. For many women it’s easy to get distracted. We love diversity and exploring the many options available to us and often lose track of where we are going. Stay focused on your goals despite all the distractions. This is where having a strategy comes in handy. Stick with your plan.
4. Keep Your Word. Keeping you word is essential in business. People can’t trust you if you don’t follow through and they won’t do business with you. Only promise what you are able to keep. If you tend to change your mind often, learn to follow through on small projects at first. This will help you to build perseverance.
5. Brag. Most men are good at talking up their own game. Watch and learn, then do the same. Point out what’s great about your business. Be proud of what you do and tell people about it. While this may be uncomfortable in the beginning, you’ll soon learn to enjoy it.
6. Making Money is OK. Are you shy when it comes to asking for money? Sales is an integral part of business. Without it, you won’t be able to survive. Learn to enjoy sales and marketing. If people love your services they want to pay you. It’s an exchange of value and respect.
7. Expect Big Outcomes. A surefire way of making more money in business is by expecting big results. Challenge yourself to think beyond your comfort zone. Most people don’t reach their goals because they are setting them too low. Set big goals and expect big outcomes.
8. When the Going Gets Tough, Keep Going. There will be days when you want to throw in the towel. That’s all right. Take breaks when you need to, take a day off, but don’t quit. Endurance is key. A midwife once told me that during labor every woman wants to quit just moments before the baby is born. I remember this often. Feel like quitting? Maybe you are just moments away from succeeding.
Business is a game and it’s essential that you adapt it to your own needs and abilities. Design it so it works for you. Take the time and the breaks you need, enjoy the journey and most of all, take care of yourself.
As always, thank you for reading.
Karin
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Photo Source: Marcelo Gerpe via stock.xchng
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