The Kauffman Foundation just published a study which shows that most companies led by women create 12 percent more revenue than those led by men. That women-led companies are proven to be more resilient to financial and market crises.
The reasons are obvious; Raising a family might be more similar to running a startup than most people would realize. If you think about it, the list of skills that transfer from “parenthood” into “startup” life is longer than you might have expected.
Mom entrepreneurs (mothers) have to learn how to delegate with multiple responsibilities on their plates as they often act as CEOs and COOs of their families.
Delegation is one of the most important survival entrepreneurial skills for moms and startup founders alike.
While a young single founder might still be able to scrape by without a team by putting in crazy work hours, mom entrepreneurs run a team. Delegating house chores to a family member is similar to delegating the design of a startup logo to a freelancer or designer.
Moreso, having a family forces you to think practically and prioritize the right things, a major need for entrepreneurs.
Google partner Juan Felipe Campos noted that “most young entrepreneurs have a problem with practicality and intention on how they spend their time; the difficulty in knowing when to work on a new product, spend time behind a spreadsheet or working on sales/marketing plans”.
Mothers like entrepreneurs have to multitask serving kids, husband and having chores done on DAILY basis.
Again, they have a stronger sense of vision and know when it’s time to pivot. Having kids sets completely new priorities in your life. Your “why” suddenly becomes clear and strong: You want to create the best life possible for your family and this is same with building a company which is extremely hard.
The most fascinating things about mothers is the ability to inspire and motivate a team. Mothers and CEOs have this trait in common: They are always in SALES mode. Both are under constant pressure to inspire, motivate and recast visions to their team, investors and clients.
Mothers are true masters of negotiation and sales. Now let’s think about it, Which is harder?
“Selling” an idea to a rebellious kid on the fact that cleaning up his room or bathing daily is actually a fun game, or selling an enterprise idea to a client on signing a contract with your company?
This gives mothers, just like entrepreneurs the ability to have experience on productivity, conflict management, human resource, time management and leadership qualities which are the exact traits of successful entrepreneurs.
For this reason, the Afrikpreneur Awards initiated the category of “Entrepreneurial Woman Of The Year” to celebrate these women who have transformed domestic ideas and qualities from home to business, creating impact and adding value to their various sectors.
Nomination open tomorrow after the release of 30 categories into the Afrikpreneur Awards 2019.
#ARREYB #BFF #Afrikpreneur2019