Is The X Chromosome The X Factor For Business Leadership?

Why companies led by women are outpacing the market

- Liz Bolshaw

Women CEOs’ growth ambitions significantly outpace those of male leaders, despite their ongoing challenges in accessing capital. Almost one in three (30 per cent) female-led companies are targeting growth rates of more than 15 per cent in the next 12 months, compared with just 5 per cent of male-led firms, even though more than half the women-led companies (52 per cent) say they have no access to external funding.

CUSTOMER FOCUS AN ENGINE FOR GROWTH

According to an independent study of 2,766 middle-market company leaders, female-run businesses are more focused on increasing market share to become leaders in their respective industries compared with male-led companies. This strategy is underpinned by a keen motivation to understand customers’ needs and improve their overall experience. Twenty-five percent of women CEOs say improving the customer experience is the most important objective of their technology investment (in line with male leaders, at 26 per cent). Meanwhile, more than twice as many female CEOs as male cite customer demand as the biggest driver for innovation (34 per cent versus 16 per cent). “When it comes to growth, customer experience is the first and most important because existing clients will always be the prime source for growth,” says Julia Beardwood, Founding Partner of Beardwood & Co., a NY-based creative agency focused on brand building. “Knowing their priorities and how to bring them outstanding experiences is foundational.”