Being able to effectively negotiate is a must-have skill for any entrepreneur. In part, women do not reach positions of responsibility because they do not get enough experience for those positions because, in turn, they are never in the plans of those who run the company. Managers tend to choose their successors from colleagues who look like them. One man is more likely to promote another man. However, over time, this has changed and more women are now taking leading roles, thanks to their proven ability to effectively and efficiently manage businesses. Ann Marie Puig, an entrepreneur and philanthropist from Costa Rica, explains why women make better negotiators.
According to the results of a report conducted with high-end entrepreneurs from 18 countries, women entrepreneurs achieve, in several respects, better results than their male counterparts. The report also states that companies led by women recorded revenues 13% higher than those led by men. 90% of women entrepreneurs expect their companies’ gross profits to grow or at least remain stable.
One reason is because of the ability to take calculated risks. While men and women are just as willing to take risks, studies by the Center for Entrepreneurship concluded that, compared to their male counterparts, women take calculated risks. “87% of women take smart financial risks (those where the assessment of the situation is more complete and realistic), compared to 73% of men,” asserts Puig.
Perseverance and long-term projection also help. Businesswomen are used to obstacles: unfair remuneration relative to their co-workers, double standards comparisons, and others. So. women have higher levels of tolerance and, therefore, perseverance. Adds Puig, “In general, women have a long-term view of the projects. Long-term positive impacts are more important to them than immediate benefits.” Men, on the other hand, focus on the immediate things and ignore the long-term impact. This is why women are more likely to perform better in the long run, as their investment alternatives follow an evaluated and safe direction.
The ability to separate ego from the success or failure of the company is a must-have trait. According to a study, men are more likely to overestimate their success and financial growth, because they see it as an extension of their personality. While women have a more realistic view of the situation, because they manage to separate their self-respect from the results obtained by their company.
A great sense of collaboration also gives female leaders an edge. While men dominate many industries, women dominate three industries in particular: health and social care, personal and cultural services, and education. This relationship occurs in both the real and virtual worlds. One likely reason is that women tend to empathize rather than systematize: by dominating sectors that require large personal interactions, women can capitalize on their collaborative abilities.? This is an important skill because companies are built by large collaborative teams.
Collaborative and empathy skills help women become better leaders and better teammates. As a result, they tend to be more attentive to the needs, aspirations and personal lives of their employees, leading to lower turnover rates, higher job satisfaction and increased employee productivity. In addition, compared to men, women are also more likely to seek help when needed, especially to analyze situations or assess potential risks, and to provide selfless help to their peers.
The maternal spirit inherent in female biology leads women to build businesses that offer value for all stakeholders: employees, customers, investors, suppliers. The well-being of the person is always above his obligations as an employee. That’s why companies led by women suffer lower turnover rates than those led by men: employees generally feel more cared for and valued personally. This inherent empathy for women also makes them fair negotiators, as they tend to approach negotiations in a win-win way.
