It’s high time we updated our notion of what an entrepreneur looks like. While the popular image still skews toward the risk-taking male, it’s actually women who are more likely to start businesses these days.

Over the past two decades, the number of female-owned companies grew at nearly twice the rate of all businesses (42 per cent versus 24 per cent), according to the Centre for Women’s Business Research.

Of the 497 billionaires on the Forbes’s list of the ‘World’s Richest People’ this year, 35 of them or 7 per cent were women.

While this figure may be insignificant on the outset, for some people this figure is impressive since it’s only about 20 years since women were awarded equal opportunity with men.

Who are these women on the famous Forbes magazine list? 

On the list are women like Doris Fisher who opened the first Gap store which manufactures a wide range of clothes, TV presenter Oprah Winfrey, and author Barbara Cox.

One peculiar thing about these women is that they are their "own bosses” or entrepreneurs who are self made and owners of businesses.

To be an entrepreneur simply means developing your own business ideas that are capable of generating income. Becoming an entrepreneur is not an easy task!

Below are some of the entrepreneurships qualities that you have to seriously consider before you set out to begin a business:

Common Sense

Studies show that most successful businesspeople consider common sense the foundation of their success. Common sense allows you to understand complex issues in simpler terms and get into the core of a problem.

Specialised knowledge

To start a successful business you need a deep knowledge of the business field that you decide to pursue. About half of all home-based start-ups are launched by people who decide to use the knowledge, which they gained from their previous work experience of a particular niche area.

Confidence

Self confidence is a key entrepreneurial skill for success. It is easy to become demoralised, frustrated and resentful if you lack self-confidence. Believe in your abilities, explore, take risks and difficult decisions.

Ability to get things done

Successful entrepreneurs are persistent and hardworking. They master self-discipline.

Creativity

Creativity is the ability to use your insights and come up with new solutions to old problems, get things done in a different way or find a totally different approach for conventional things to work together.

Ability to lead

Successful entrepreneurs are capable of leading people. They use a combination of various methods - effective motivation, planning, coaching and evaluation - to lead people.

Self reliance

Successful entrepreneurs try to take full responsibility for
their actions. They know that what they are today, and what they are going to be tomorrow, depend solely on themselves, as it is the outcome of their own choices and decisions. So, ladies, it’s time to launch your dream.

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