By Renee Fraser, Ph.D., CEO and Founder, Fraser Communications
After interviewing six women founders for my radio show, The Deciders, I am committed now more than ever to invest in women-run startups. Let me share with you my top four reasons you should do the same.
WOMEN GET LESS FUNDING
Women-run companies are part of a very small minority receiving venture capitalist funding. Internationally, companies with at least one woman founder received 10% while, in the US, women received an astonishing 4.4% of venture capitalist funding.
PASSIONATE ABOUT THEIR MISSION
These women believe in their companies with their heart and soul. Unlike, I see in the men founders, these women believe in their companies as a mission. They see and quickly articulate an emotional need or reward. They see themselves solving real problems, not just creating a successful company.
FOLLOW THEIR CUSTOMER NEEDS
They stay close to the customer and are agile at adapting. Women use their intuition and gut, but if you don’t follow your customers’ needs you miss opportunities. Women are connected and engaged with their customers. They deliver a product, do the sampling, ask for feedback and, most importantly, follow through. In this time of rapid change and fast adaptation, new products are needed. I bet on founders who stay glued to their customers.
Teams make the difference. You cannot scale without a great team and women leaders know this. As founders they don’t have to be super stars. Looking for their employees, they look for true passion, connection to the mission, and resilience.
I am sure there are men founders that exhibit these same qualities. But, as a psychologist and entrepreneur who has interviewed over fifty entrepreneurs in the last five years, I have to say passion, listening to customers, and team building, I find more often in women. So, that’s where I am putting my money.