Leadership and confidence are the two characteristics female entrepreneurs believe they need to do well according to a new study. Specifically 83 percent of the female entrepreneurs and business owners surveyed believe leadership is the most critical mannerism for a business creator or CEO to possess while 82 percent think its confidence.
The other key attributes they deem important are:
Building a company and maintaining its attainment takes confidence strength of mind and the ability to take risks organization partner of KPMG LLP’s New Orleans office and leader of the Houston Business Unit Private Markets Group said in a statement. Women entrepreneurs who are able to take these traits and join them with a strategic vision for their business will not only take benefit of on today’s type of weather of disruption but they will be the disruptors themselves.
In addition, women also believe they have to work hard persist through tough times be able to create stylish hires and have helpful family and friends in order to create a successful business. Building a flourishing business is not without some growing pains. The biggest challenges the women surveyed said they faced when building their companies were:
- Hiring the right people
- Time management
- Managing cash flow through bend times and to fund extra growth
- Developing sales forecasts and hitting those targets
- Creating the right technology infrastructure
- Access to cash/credit/funding
- Deciding whether a alter of direction is needed
- Attracting customers and building market share
- Dealing with licensing, regulatory and other technical requirements
- Developing a plan and executing it successfully
Building a company is a multifaceted tackle that is not for the pale of spirit the study’s authors wrote. No, speculate they say hard work persistence and a willingness to take risks matter most to their success. When starting businesspersons should not be hesitant to turn to others chiefly other women for advice. The study revealed that 95 percent of female entrepreneurs also who launched their own startup company grasp a management position in a establish company believe that having a relaxed consultant or adviser was a key subject to their achievement.
The key is to recognize the right person and get bigger an open and truthful conversation concerning what you both expect to get out of the friendship Hughes said. By building a rapport and having customary cadence with a mentor, entrepreneurs can teach precious in order and recommendation so as to will assist them on their paths to success.