According to a recent article by the National Association of Women Business Owners, women who start new companies are seeking fulfillment on their own terms. There’s no such thing as the perfect “work-life balance,” and a recent survey of their members is quite enlightening.
The main reasons women start their own business are:
- Ability to Do Something they are Passionate About
- Be Their Own Boss
- Higher Earning Power and Flexibility
Web.com CEO David Brown notes “”The conventional wisdom is women want work-life balance or flexible schedules…our research shows something completely different.” It’s an interesting paradigm shift. The desire to have flexibility to care for children, or to leave them a legacy fell to the bottom of the list this year.
After decades of work experience I see another force at work. In my own business conversations and advisory meetings I am often concerned that women tend to make business (and personal) decisions based upon “security.” I often point out to my clients and their spouses that “security” is an illusion, and you don’t base business decisions on emotion, fear or security. You make business decisions based upon facts, market factors, risk and opportunity.
The survey offered encouraging insights into other business numbers as well. The number of businesses in the US grew by 47% from 1997 to 2014. The number of women owned businesses jumped over 67% during the same period, adding 274,000 jobs since 2007.
I am encouraged that optimism among women business owners is quite high. 93% of the survey’s response see a bright future for their business in 2015. 88% believe the number of women owned businesses will continue to rapidly expand this year. As a woman who is an owner of multiple businesses I share those perspectives, and want to do all I can to foster the growth and prosperity of women owned businesses.
If you are planning to start a new business in San Diego, or are a woman or business owner interested in taking your company to the next step in its growth I invite you to contact me for a free consultation at 866-631-3470. It’s an exciting time for women business owners, and for all business owners in San Diego