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Interview two women entrepreneurs & find out whether they believe the tasks of being an entrepreneur any different for them than for their male counterparts. What are the disadvantage & advantage of female entrepreneur? Are these different substantial or minor?

DEFINITION OF ENTREPRENEUR TODAY

The concept of an entrepreneur is further refined when principles and terms from a business, managerial, and personal perspective are considered. In particular, the concept of entrepreneurship from a personal perspective has been thoroughly explored in this century. Third exploration is reflected in the following three definitions of an entrepreneur: In almost all of the definitions of entrepreneurship, there is agreement that we are talking about a kind of behavior that includes: (1) initiative taking, (2) the organizing and reorganizing of social and economic mechanisms to turn resources and situations to practical account

(3) the acceptance of risk or failure. To an economist, an entrepreneur is one who brings resources, labor, materials, and other assets into combinations that make their value greater than before, and also one who introduces changes, innovations, and a new order. To a psychologist, such a person is typically driven by certain forces the needs to obtain or attain something, to experiment, to accomplish, or perhaps to escape the authority of others. To one businessman, an entrepreneur appears as a threat, an aggressive competitor, whereas to another businessman the same entrepreneur may be an ally, a source of supply, a customer, or someone who creates wealth for others, as well as finds better ways to utilize resources, reduce waste, and produce jobs others are glad to get. Entrepreneurship is the dynamic process of creating incremental wealth. The wealth is created by individuals who assume the major risks in terms of equity, time and/or career commitment or provide value for some product or service. The product or service may or may not be new or unique, but value must somehow be infused by the entrepreneur by receiving and locating the necessary skills and resources. Although each of these definitions views entrepreneurs from a slightly different perspective, they all contain similar notions, such as newness, organizing, creating, wealth, and risk taking. Yet each definition is somewhat restrictive, since entrepreneurs are found in all professionseducation, medicine, research, law, architecture, engineering, social work, distribution and government. Entrepreneurship is the process of creating something new with value by devoting the necessary time and effort, assuming the accompanying financial, psychic, and social risks, and receiving the resulting rewards of monetary and personal satisfaction and independence.

This definition stresses four basic aspects of being an entrepreneur regardless of the field. First, entrepreneurship involves the creation processcreating something new of value. The creation has to have value to the entrepreneur and value to the audience for which it is developed. This audience can be

(1) the market of organizational buyers for business innovation, (2) the hospitals administration for a new admitting procedure and software,

(3) prospective students for a new course or even college of entrepreneurship, or (4) the constituency for a new service provided by a nonprofit agency.

Second, entrepreneurship requires the devotion of the necessary time and effort. Only those going through the entrepreneurial process appreciate the significant amount of time and effort it takes to create something new and make it operational. As one new entrepreneur so succinctly stated, While I may have worked as many hours in the office while I was in industry, as an entrepreneur I never stop thinking about the business. Assuming the necessary risks is the third aspect of entrepreneurship. These risks take a variety of forms, depending on the field of effort of the entrepreneur, but usually center around financial, psychological, and social areas. The final part of the definition involves the rewards of being an entrepreneur. The most important of these rewards is independence, followed by personal satisfaction. For profit entrepreneurs, money becomes the indicator of the degree of success. For the person who actually starts his or her own business, the experience is filled with enthusiasm, frustration, anxiety, and hard work. There is a high failure rate due to such things as poor sales, intense competition, lack of capital, or lack of managerial ability. The financial and emotional risk can also be very high. What, then, causes a person to make this difficult decision? The question can be best explored by looking at the decision process involved in becoming an Entrepreneur Who can become an entrepreneur?

There is no one definitive profile. Successful entrepreneurs come in various ages, income levels, gender, and race. They differ in education and experience. But research indicates that most successful entrepreneurs share certain personal attributes, including: creativity, dedication, determination, flexibility, leadership, passion, self-confidence, and smarts. Creativity is the spark that drives the development of new products or services or ways to do business. It is the push for innovation and improvement. It is continuous learning,questioning, and thinking outside of prescribed formulas.

 Dedication is what motivates the entrepreneur to work hard, 12 hours a day or more, even seven days a week, especially in the beginning, to get the endeavor off the ground. Planningand ideas must be joined by hard work to succeed. Dedication makes it happen. Determination is the extremely strong desire to achieve success. It includes persistence and the ability to bounce back after rough times. It persuades the entrepreneur to make the 10th phone call, after nine have yielded nothing. For the true entrepreneur, money is not the motivation. Success is the motivator; money is the reward. Flexibility is the ability to move quickly in response to changing market needs. It is being true to a dream while also being mindful of market realities. A story is told about an entrepreneur who started a fancy shop selling only French pastries. But customers wanted to buy muffins as well. Rather than risking he loss of these customers, the entrepreneur modified her vision to accommodate these needs. Leadership is the ability to create rules and to set goals. It is the capacity to follow through to see that rules are followed and goals are accomplished. Passion is what gets entrepreneurs started and keeps them there. It gives entrepreneurs the ability to convince others to believe in their vision. It cant substitute for planning, but it will help them to stay focused and to get others to look at their plans. Self-confidence comes from thorough planning, which reduces uncertainty and the level of risk. It also comes from expertise. Self-confidence gives the entrepreneur the ability to listen without being easily swayed or intimidated. Smarts consists of common sense joined with knowledge or experience in a related business or endeavor. The former gives a person good instincts, the latter, expertise. Many people have smarts they dont recognize. A person who successfully keeps a household on a budget has organizational and financial skills. Employment, education, and life experiences all contribute to smarts. . Every entrepreneur has these qualities in different degrees. But what if a person lacks one or more? Many skills can be learned. Or, someone can be hired who has strengths that the entrepreneur lacks. The most important strategy is to be aware of strengths and to build on them.

We interviewed 2 female entrepreneur and differences they feel between male and female entrepreneur are: Men VS Women Entrepreneurs: Here Are The Facts
1. Women

start companies to better balance their work and family lives.

Wealth is not their primary focus, so most remain smaller.But there are exceptions, like Martha Stewart (Omnimedia), Ruth Furtel (Ruth's Chris Steakhouse), and Lillian Vernon, which make big money.

2. Male owners are more likely to start a business to make money They also spend more time on their new ventures, have higher expectations for their business, and do more research to identify business opportunities.Sometimes this works, and sometimes it doesnt.

3.Female-owned companies tend to offer family-friendly benefits

These include such perks as job sharing, parental leave and telecommuting.They argue that their more worker-friendly policies boost morale and lead to less turnover, less absenteeism and higher productivity.

4. Male entrepreneurs seek investors much more often than women

Many feel this is due to a male affinity for technologically intensive businesses, and businesses that have a broad geographical customer base. Female entrepreneurs and their advocates say some women want financing, but can't readily get it because of discrimination by banks and venture capitalists.

5.Female owners are more likely to have positive revenues.

They prefer lower risk opportunities, and are willing to settle for lower returns. Some women feel that pushing profits is not polite. More women entrepreneurs are single person businesses, while men tend to have more employees.

6. Men have more business experience prior to opening the business.

For most male entrepreneurs, business is their whole life, and has been since adolescence. Women often change their focus from business to marriage and family, then to entrepreneurship. Managing a family may have more synergy to a new business than a corporate role.

7. Women have more difficulty delegating tasks.

hey are used to doing everything themselves and thus sometimes will spread themselves too thin trying to keep up their business and do their housework at the same time. A man might hire a housekeeper without guilt. Guilt seems to be a woman's nemesis!

Here are the six advantages that female entrepreneurs have: 1. Social Networking. Lets face itwomen are natural networkers. They love to talk, mingle, and rub elbows. This is the very reason why husbands rarely ever manage the social calendar. In todays business environment, mastering social media is mandatory, and the ladies absolutely have a leg up!

2. Intuition. They call it womens intuition for a reason. Women in general can size up another person much faster than her male counterpart. In todays ultra-fast paced business

environment, you need the ability to quickly identify the allies and the enemies. Regardless if you are a male or female, you need to trust your gut.

3. Pain Tolerance. Okay, initially I would have said this is irrelevant. But after watching my children be born, there is no question that my wife can handle a lot more pain than I can. And I am not just talking physical pain, I mean emotional, too (have you seen how tough children can be on their mothers?). In business, there are a lot of painful moments. A lot. Women definitely have an advantage in this area.

4. Multi-tasking. Women are known for juggling many tasks at the same time and still being able to produce excellent results. Conversely, the guys are masters at focusing on one thing. Still, the advantage in todays distracting environment goes to women. 5. Patience. Women inherently seem to have more patience. And in todays business environment, patience is key! Aggressive business strategies are not paying off like they once did. Slow and steady wins the race in this category.

6. Listening. A friend of mine went to buy a new bed at a small bedding store owned by a husband and wife team. The female owner approaches my friend and asked all kinds of questions about why they needed a new bed, if they could fix their old bed, what else they were considering, etc. She asked questions and listened closely. She clearly showed that she cared about helping to meet their needs. My friend was moments away from buying any bed that she recommended. But just then, the frustrated husband on the sales team ran up and said let me handle this. Then he just tried to hard close the sale. He was pushy, telling them what he recommended and what they had to have. Guess what? The sale was lost the second he began speaking! They walked out. I am sure he blamed her, but it was him. The key is to ask questions and really listen. Quite frankly, any great sales person knows this, man or woman, it just seems that the ladies are naturally better at doing it.

While female entrepreneurs only represent a small portion of the overall number of businesses in the country right now, make no mistake, that percentage will continue to climb. The research

shows that the growth of female owned businesses is growing at twice the rate of male owned ones. The more women take the leap and open their business, the more others will follow in line. And because of these advantages, among others, they should have a pretty good chance of succeeding!

1. Financial Barrier
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One of the most significant barriers to female entrepreneurship is the capital financing barrier. When starting a business, entrepreneurs need to line up capital to get the business "off of the ground." According to Mai Nguyen, female entrepreneurs often get their initial funding from family loans, savings, credit cards and home equity loans. However, women can obtain capital from government startup programs, self-funding and venture capitalists, among other sources. When women have promising business ideas, it is less difficult for them to obtain startup capital. Therefore, having solid business plans with persuasive product or service ideas helps reduce the finance barrier for women.

Lack of Networks
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Female entrepreneurs are more likely to encounter difficulty because they are less likely to be associated with networks of people who can help them launch and sustain businesses. "Networks" include people who provide mentorship, referrals, help and valuable information to entrepreneurs. Men tend to dominate the highest levels of corporate leadership. Therefore, there are less women available to provide valuable advice to female entrepreneurs. Women also face "customer/supplier" discrimination, which occurs when customers or suppliers discriminate against women-owned firms. In response, women business leaders can create their own networks to cultivate the success of female entrepreneurs. However, these networks should include men who can also be helpful to fundraising, business strategy or other critical areas.

Family Considerations
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In the United States, women are more likely to shoulder a greater share of childrearing duties. Children may demand their mothers' undivided attention, which can be a challenge for female entrepreneurs to deal with. Building and running a new business requires a great deal of time, which may conflict with one's family obligations. Women in this situation must balance their family life with their duties as entrepreneurs. For example, parents can communicate about the need to devote some time during the day solely on business, while other times can be devoted to family matters.

Confidence
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Although both men and women can face issues of self-doubt, or lack confidence to compete in the business market, men do not suffer from the same degree of "prejudgment" as do women entrepreneurs. For example, male business leaders may not believe that their female counterparts can compete or innovate to the degree that men can. The basis of these views are stereotypes about women. Having female mentors and confidants can help instill self confidence in your abilities as a female entrepreneur.

Some other disadvantages are:

Female entrepreneurs have a tendency to

Think multi-tasking is normal and pride ourselves at being good at it. Have an Ill do-it-myself attitude". Not even consider hiring a team of helpers like housekeepers, personal assistants, accountants, virtual assistants and business coaches until its absolutely necessary.

Have a problem receiving. So we either charge less than our male competitors or forget to put ourselves on the payroll.

Focus almost completely on the day-to-day tasks and are reluctant to set goals or make business plans.

Want our work to be perfect more than we want it to be profitable. Not really know what our business dreams are. Believe the act of self-care to recharge ourselves is selfish.

So which gender really makes the best entrepreneur?

From these few highlights, its obvious that men and women do speak different languages, and neither is all right or all wrong. By current numbers its still a mans world, but women entrepreneurs are lining up at double the male rate. Thus, in the longer run, I wouldnt count the women out of this race.