Women's Entrepreneurship: Best Practices

Women face the same challenges as their male counterparts in their entrepreneurial endeavors; in addition, they often must address gender-specific issues, most notably, limited access to capital and other resources. Commonly, they also must factor into their business practices greater demands in their personal lives, as they typically shoulder most childcare and household responsibilities. In light of this, female entrepreneurs have developed a number of highly effective managerial practices to enhance their competitive effectiveness and guide their business growth.

The management foundation for female entrepreneurs is laid in self-knowledge. They are aware of what drives them to succeed; they know their core competencies, as well as areas of weakness; and they fully understand their financial expectations and their level of risk tolerance. More so than men, ...