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How Can Entrepreneurs Survive a Recession?
Handle It Like a Woman
It’s time to learn recession-management tips from entrepreneurs who take the bull by its horns and
those equipped to handle it best -- women. emerge victorious.
It’s no secret that a recession comes with many new 3. Negotiation Skills
challenges. But are women better poised to deal with
them? Women are extraordinarily good at negotiating, and
often bag the best and most lucrative deals. Unlike
Recent findings indicate that women remain unfazed their male counterparts, female entrepreneurs leave
by the impact of recession, in comparison to their their egos aside and utilize their polished and refined
male counterparts. Recession influences the business manners while negotiating. This helps them procure
practices of women entrepreneurs, who go on to the toughest deals, as (most) do not lose their cool
further develop themselves to survive in the corporate easily.
world. The impact is felt by women devising to
improve and manage effective strategies for survival in Carefully Guarded Decision-Making
a financial crisis. Women have a natural ability to remain calm and
What Can We Learn from Women Entrepreneurs? patient during the trickiest situations.
Here are five key things that we can learn from women Their decisions are not influenced by rash, impulsive
entrepreneurs. and over-ambitious behaviors. Being naturally adept
at decision-making, women entrepreneurs think twice
Dedication towards Employees before taking any sort of risk. Women follow the risk-
aversion technique and refrain from over-extending
The key to achieving success in business is build a themselves.
strong base. The workforce of any company plays
a major role in strengthening the foundation of a Improved Access to Capital
company. In general, women are greatly concerned
about their employees and build a good rapport with Many of today’s women entrepreneurs have better
them. This increases their loyalty, and employees access to finance. They have won trust of banks all
remain dedicated to their organizations even during over the world because of their cautious, well-planned
difficult times. approach towards business. Today if women have
improved access to capital and are better funded, it
2. Effective Public Relation Skills is mainly because of their cautiousness in money
matters.
Speaking from a male point of view, women are
quite adept in getting their way — for everything. Overall women have become more pragmatic
Why? Some may argue that a woman with and cautious while investing. They are
effective communication skills can passionate about their work and organize
easily influence people. thorough market research before
investing in any business, no matter
Female business-owners possess how lucrative it seems.
unparalleled public relation
skills and strong convincing “Productivity is never an
powers. This makes women accident. It is always the
adept at marketing. During result of commitment and
recession, when marketing is excellence, intelligent planning
usually sidetracked, it is these women and focused efforts.”
42 December 2019
