Techblog
Top five leadership tips for today’s female entrepreneurs
By defying social norms, today's female CEOs and business leaders are showing that it's possible to break new ground in the business world. Here are five leadership tips that female founders can leverage to take their companies to the top.
Because today’s fiercely competitive business world calls for an exceptional breed of leaders (of either gender), the boundaries of traditional gender roles have been pushed, and women across the ASEAN region are making rapid strides as business leaders and founders.
There is of course no fixed formula for success, but there are lessons that female leaders can embrace from the likes of Tan Hooi Ling (co-founder of GrabTaxi, Singapore) and Maria Ressa (co-founder and CEO of social news organisation Rappler, Philippines).
Have empathy and encourage open communications
Research by management consulting firm Caliper found that women are more empathetic and flexible, and also offer stronger interpersonal skills than their male counterparts. When these qualities are transferred to the professional arena, the outcomes often prove favourable.
Being able to understand and manage the problems and needs of a team leads to better productivity and loyalty. Empathetic women leaders with the ability to focus on issues and interests rather than being confrontational or taking sides can bring a unique set of negotiation skills to the table. This can help their businesses build open, lasting relationships with clients and suppliers.
Owning your success
Whether male or female, a strong leader should always be confident in his or her dealings with investors and clients.
Conventionally, women have apologised for their success, or downplayed their achievements to avoid sounding arrogant. While this sort of humility is admirable in its own right, as a female leader, it is also crucial to impart a sense of accomplishment to the team in order to reaffirm confidence in one’s leadership capabilities.
Stop the fear of failure
Results from a recent survey published by Kleinwort Benson found that female entrepreneurs fear failure significantly more than men, perhaps because they see it as a reflection of their abilities and a result of their actions, rather than something to learn from and build upon.
As an entrepreneur, at least some form of failure is almost unavoidable. A business idea may not gain traction with investors or a product may not take off as well as expected – something could invariably go wrong in any business venture.
According to veteran entrepreneur and corporate leader Judy Robinett, most successful entrepreneurial ventures typically fail three times before hitting success. If it doesn’t stop men, then it shouldn’t stop women.
Embrace parenting skills, and bring them to your business
In most countries around the world, women generally continue to take on the role of the primary caregiver in the family environment. In today’s world, however, more women are using the opportunity to build their work lives around their responsibilities at home.
More women are turning to entrepreneurship after becoming parents for a number of reasons – working flexibility, keeping busy and extra income being just a few of them. By putting the skills that motherhood instils in a woman to use in business, working mothers may actually find it easier to function under continuous pressure, make decisions quicker and work with minimal resources.
Learn the power of networking
No business can survive as an island. An entrepreneur needs connections and business relationships. Interestingly, while women are known to be more social in their personal lives, they still face issues with business networking.
Across all industries, many job openings are filled through word-of-mouth referrals or personal introductions. Although networking is often associated with job hunting, relationships through networking can help land clients, boost confidence and lead to new business deals.
Embodying an authentic leadership style is a process that needs constant improvement, but it can certainly send a powerful statement that commands respect in the workplace. With the right mindset and some confidence in the mix, any female entrepreneur can give the guys a run for their money.