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Top Three Reasons Why Women Start Their Entrepreneurial Journey

Did you know that since 1977, the number of women-owned business increased over 3,000% in the US? Or that Canadian women rank 1st in terms of involvement with newer businesses, which means we are ahead of the US and all the other countries? We’ve entered and are living in the era of women. More and more of us are taking charge not only of our personal life but especially a professional one.

So, the natural question that comes up is why so many women are turning to entrepreneurship?

There are many reasons, but a lot of them fall into three main groups.

1.     Time Flexibility

Time is really the only capital that any human being has, and the only thing he can’t afford to lose.

Thomas A. Edison

For most of us, flexibility with our time is more important than making a certain amount of money. Personally, I’m definitely in this majority. We want to spend more time with our loved ones, have the ability to lead a healthy lifestyle, and also carve out some time for us. Having a flexible schedule that we can set helps to achieve such goals.  Time is the most valuable resource all of us have in an equal amount: 365 days a year, 24 hrs each day. No wonder we want to be able to use it on our terms.

Additionally, such flexibility gives us a feeling of independence. Being our own boss puts us in charge of the schedule, which most jobs in the corporate world have a hard time providing.

And yet, despite the above, time management is one of the top three challenges facing all entrepreneurs (women and men). It’s falling right after financing and ability to find a steady stream of clients. Because it’s such an essential aspect of a balanced life, I’ll be writing more about this subject in the coming weeks.

However, if you feel like you could use some help now, click here and let’s schedule a chat. I promise, not only it will be fun but also you’ll come out of it with some great strategies to help you overcome this challenge. 😊

2.     Pursuit of Passion

Your purpose explains what you are doing with your life. Your vision explains how you are living your purpose. Your goals enable you to realize your vision.

Bob Proctor

Secondly, women start their entrepreneurial journey to do what they love. I think it’s mainly  because doing what we’re passionate about gives us a purpose. Or even the other way, our purpose drives what we love and what we want to do in our lives. And this is nothing new. As a matter of fact, the need for purpose is one of the defining characteristics of human beings. We all crave it and can suffer severe psychological consequences if we don’t have it. Purpose is one of the fundamental components of a fulfilling and happy life.

In other words, passions and drive to do things in life are tightly joined to our purpose or the search of thereof.

And that’s a fantastic thing! Because as a result, our businesses have a heart. They are mission-driven, and this way can become truly successful. I wrote more on this subject a few weeks ago. Click here to access the article if you’re interested in reading more.

3.     Financial Independence

If you want to be financially free, you need to become a different person than you are today and let go of whatever has held you back in the past.

Robert Kiyosaki

The third group of reasons why women turn to become business owners falls under finances. In here we can find main sub-reasons such as:

–       Being able to charge what we are worth. Unfortunately, the gender pay gap in the corporate world is still real, even in the most developed countries like ours. Rather than spending time and energy trying to fight that inside a corporation, why not change in by starting your own business?

–       Being in charge of the future. The corporate world is not as stable as it used to be many years ago. Many women have experienced the loss of their jobs and working for yourself means you’re in the driver seat deciding on the direction for your journey.

All in all, there are many reasons why women turn to entrepreneurship. Most of them align with those of men. However, what’s different is the weight of importance for each. 

Given the above points, I’m curious to know what your reasons to start your business were? Or if you have not started one yet and maybe just thinking about it, I’d still like to know why? Mine, in essence, fell into all three main groups.

Please share yours in the comments below or even send me a note with your story. I’d love to read it. Or better yet! Maybe you’d like to share it through a guest blog here? I love great collaborations! If you are up for it, give me a shout and let’s do it!

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