It’s often frustrating for men to hear the popular sentiment that women make better entrepreneurs than men. It’s not fashionable to argue, but the truth is that the number of female-owned businesses are only growing at a faster rate because there were relatively few to begin with. Male-owned businesses are still growing more quickly in absolute terms.
In any case, while it may not be the most fashionable opinion we’d like to present the opposing argument, so here are 7 reasons why men make great entrepreneurs.
Do Men Make Great Entrepreneurs? Read On:
1. Men are more driven to make money
Studies have shown that women tend to be motivated to start their own businesses in order to strike a better balance between work and family life. For instance, many women start businesses from home in order to take care of their children while still generating an income.
Conversely, men tend to be more motivated by financial success in their ventures. They start companies with a view to becoming financially independent and, if all goes well, obscenely wealthy. While there’s nothing wrong with either approach it seems that men have the advantage in creating thriving businesses. Male entrepreneurs are willing to work longer hours and devote more of their energy to the venture, while women tend to be satisfied with modest success.
2. Men more readily seek investors
Perhaps due to the inherent differences in the types of businesses (small and home-based vs. large and ambitious), men are more willing to seek investment to help grow their business. While it may be the case that the obligations to repay investments and dividends down the line become onerous, in the short term this willingness to seek out finance helps male-owned businesses thrive much sooner, while female-owned businesses can only grow at the rate at which profits can be reinvested.
3. Men have more experience in business
Male entrepreneurs tend to start their businesses after a lifetime of work experience, and as such can draw on that experience to help their venture succeed. Women, on the other hand, often switch focus throughout their lives to make time for a family, abandoning work for several years until their children are no longer dependent on constant care before returning to continue their career.
While it may be unfair to hold a biological necessity against them, the fact is that women on average have less business experience than men.
4. Men are more willing to delegate
Many women find it difficult to break from the habit of doing everything for themselves, and when it comes to handling aspects of their business they can easily spread themselves too thin.
Men are much more ready to delegate, and happy to hire employees who can manage certain tasks with greater competence and efficiency. Men are more willing to hire accountants to deal with money matters, and for the simple reason that professional money managers are better at finding tax deductions than the layman that puts male entrepreneurs in a stronger financial position.
5. Men tend to be risk takers
Male entrepreneurs are more prone to impulsiveness and risk taking than women. While this may be a dangerous characteristic it’s also true that risk can pay dividends in many cases. The result of this is that male-owned businesses often grow at a much faster rate than businesses run by their female counterparts.
6. Men can be more decisive than women
While this many not be true for all men, male entrepreneurs can be more decisive and confident than women. Arrogance may not be an attractive trait, but in the world of business a certain amount of confidence in your abilities (or even over-confidence) can bring positive results.
7. Men can manage money more effectively
Finally, male entrepreneurs have the (dubious) advantage of societal sexism in their favor. Men have traditionally been breadwinners in charge of the family purse, while women were reduced to homemakers. Even in this generation the cultural hangover still persists, as today’s entrepreneurs were raised with the old ways.
While this benefit will no doubt vanish as today’s youth are raised with a fairer and less confining focus on gender roles it does, at least for this generation, mean that men tend to have more experience in financial matters than women, helping them make the best decisions to grow their business.
If you haven’t already, make sure you checkout ‘The 7 Reasons Why Women Make Great Entrepreneurs‘