In India women entrepreneurs and their increasing emphasis have had a significant impact on the nation’s socio – economic demography. Women’s participation in the workforce has assisted millions of families in escaping poverty and has resulted in job creation. Women are noted for their leadership abilities, and as a result, they dominate new-age sectors. Women’s contributions to the modern workforce have been highlighted by their positive attitude toward work and outstanding business abilities.

According to McKinsey Global report, increasing women’s involvement in the workforce in India might add US$ 700 billion to global GDP. The survey further states that women-led firms deliver a significant boost to the economy. In India, there are 432 million working-age women, and 13.5–15.7 million women-owned businesses directly employ 22–27 million people. In addition, a large percentage of firms are run by women. Indian women are self-sufficient and driven to build their own businesses.

Women Entrepreneur- Adding Real Value in the new era

Every slight push symbolizes the beginning of a new era. An industry has evolved that has put women in the spotlight at a time when women all around the world are battling for equality, work-life balance, and gender parity. Women are setting the bar in the digital world for a new generation of entrepreneurs who add value to the company via their talent and talents.

Here are talents and skills that give wings to women entrepreneurs to run any kind of business.

Vision

Entrepreneurs who succeed are visionaries who recognise opportunities. They know exactly what they aim to accomplish. Furthermore, successful entrepreneurs are capable of bringing that concept to life. A woman entrepreneur must manage her business in addition to having vision. She will be in charge of a large number of personnel as well as dealing with clients, suppliers, and investors. Another quality to cultivate is self-confidence, since if you believe you can do anything, half the battle is won!

Networking

One of the main factors holding women back in business is a lack of market connections. Many business women miss out on fantastic possibilities due to a lack of networking. It is critical for women who wish to start or currently have a business to network with other entrepreneurs. Networking may also help them connect with specialists such as lawyers, financial experts, and government officials. Networking is a crucial talent for entrepreneurs to have, and it is also important to be a strong communicator.

Communication Skill

Excellent writing and oral communication abilities would be tremendously beneficial. A woman entrepreneur must be able to deal with difficult situations. When it comes to running a business, disputes and uncomfortable conversations are inevitable. As an entrepreneur, you must spread the word about your company by talking to people and giving presentations. Any issue may be resolved without escalation with proper communication. As a result, it is crucial in an entrepreneur’s path.

Sale and Marketing Skill

When it comes to starting a business, the two most vital abilities are sales and marketing. A company is worthless unless it has a customer base that generates income and profits over time. Consumer expectations are shifting, and with them, the business model must shift as well. Today’s consumers want to buy things from people they can trust. Businesses with a strong brand may effectively communicate their aim and purpose. Businesses must be able to advertise themselves and have sales skills in order to attract clients.

Financial Literacy

The most important skill for every entrepreneur. Women are often left out of important financial decisions or are not given access to financial resources. Many women often complain of having been taken advantage of because they don’t know the basics of accounting. The ability to handle money well is a much needed skill that every woman should have. So, spend some time with a Chartered Accountant and legal consultant, to understand the nuances of financial and legal implications.

Time Management Skills

A woman entrepreneur’s ability to plan a day and manage the time is very vital. All you have to learn is how to manage your time and prioritize your responsibilities. Though, as an entrepreneur, efficiency is critical in reflecting day-to-day activities with time management. Knowing when to stop and when to quit work to focus on your role as a wife, mother, or daughter is part of having effective time management skills.

Women Entrepreneurs altering the world for future

Women entrepreneurs in business have the potential to alter the world. Even if they have the right background and all the talents and skills, starting a business is never easy, because there is no sure-fire technique to secure business success. However, mastering fundamental skills will make the startup process slightly smoother, giving a better chance of seeing the firm grow and succeed! There is still a long way to go before we see equality in the business sector, but things are changing. And it’s for the better! In fact, only the greatest will do! In the nutshell, skills and talents give women entrepreneurs wings in a competitive edge for progressive growth.

(Drafted with inputs from Dr. Sunil Shukla, Director General, WeAct)