Why the World Needs More Women Entrepreneurs

Education

May 29

It’s time for more women entrepreneurs to set out doing what they really believe in. 

Rich Woman author and real estate investor Kim Kiyosaki has a message for all the women out there:

Rise up! The world needs more female entrepreneurs.  

“The world is better served when women start more businesses,” she says.

After all, women make up 85% of all consumer purchases (homes, cars, vacations, healthcare, food, etc.), but women-owned businesses only account for 39% of all US businesses.

Why does the world need more women entrepreneurs?

1. There’s a need to fill.

As Kim points out, women feel widely misunderstood by marketers, pointing to one survey by she-economy that found that 91% of women thought advertisers don’t understand them.

“As we know, women see the world differently than men. We are attuned to opportunities that men might not notice,” she says.

“That’s because women have unique ‘problems’ that need solving, problems that often only other women are savvy enough to solve. Plus, women know how to market their businesses and products to other women in a way that makes sense.”

Examples of women spotting a need and making an innovative solution aren’t hard to find—look at Sara Blakely, the founder of Spanx, or Kim’s friend who turned her designer handbag obsession into a profitable accessory-sharing service.

“These women are real people, who didn’t come from privileged backgrounds,” says Kim.

“They didn’t have advanced degrees, they didn’t have access to ‘the right circles’ of people to network with, and they didn’t even have business experience.”

“What they did have, however, was a dream of financial independence coupled with a brilliant idea they knew would fill a void in the marketplace.”

2. Women invest more in social causes.

According to Social Enterprise UK, 41% of social enterprises are run by women (compared to numbers for mainstream businesses that are close to half that), while 43% of non-profit businesses have female leaders.

Many of these businesses are committed to promoting gender equality, which makes them a no-brainer for female entrepreneurs. But there’s also a sense that women value how they spend their time and their energy in a way that men don’t—if they’re going to sacrifice time with their family, they want to make sure it’s worth it.

“Balancing business and family life is a struggle for any entrepreneur, regardless of their gender, but mothers often find this juggling act the most difficult,” says Kim.

Having a sense of purpose makes the balance a bit easier to find and helps tackle one of the issues women often face in the workplace: confidence.

Working towards an ideal means women aren’t claiming that confidence for themselves, but for the dream—and that’s a little easier to take.

So what are you waiting for?

“Spend some time analysing the world around you,” says Kim. “Listen to conversations with your girlfriends. Watch your social media feed. Look closely at your own life. Are there unique challenges in your life, as a woman, that you think haven’t been best solved yet?”

“There’s no reason to settle for the status quo. Think up a better solution and get scrappy. You never know where that little idea can take you.”

Want more content like this? Sign up for our weekly newsletter!