Taking the Female Lead
In an era where gender and diversity have never been more prominently featured in mainstream media, it could surprise you to learn that many existing leadership stereotypes are still predominantly masculine. With over 30% of Australian businesses owned by women, is now the time to revolutionise our thinking and consider what women have to teach us about the business world?
What female business owners bring to the table
Running a successful company takes filling many important seats with the right people. Perhaps unsurprisingly, the skills that business women bring to the table are often worth more than their under-fed salaries.
The female skillset
Compared to their male counterparts, women bring an average of almost 10% additional skillsets to a board of directors, as found in a study by professors at the University of Texas. The study also indicated that risk management, human resources, sustainability and emotional intelligence are areas of talent that women bring to the c-suite of some of the world's largest companies.
Profitability
A profitable organisation requires a multitude of intelligence sets that complement the other; women in business potentially have more to offer than they realise! As far back as 2016, a study by the Peterson Institute for International Economics found that in almost 22,000 publicly traded companies across 91 countries, a more significant presence of female leaders in the highest positions of management correlated with increased profitability.
The emotional intelligence of female entrepreneurs leverages a successful business venture
Many scholars have commented fervently on how the latest generation of female entrepreneurs and executives is changing how people work. Women tend to be at the helm of innovation; they spark disruption, birth revolutionary strategies and create unique products.
Underpinning the success of women entrepreneurs is their more significant level of emotional intelligence, which is one of the hottest business topics discussed in business currently. Backed by neuroscience, women entrepreneurs are shown to use their innate emotional intelligence to manage followers' emotions better and thus influence growth. Women entrepreneurs' personality characteristics and positive emotions promote their ability to transform their past experiences into present solutions.
Emotional intelligence, perhaps unsurprisingly, is also what helps a female entrepreneur overcome the high levels of stress and challenges that women entrepreneurs face.
At Bradley & Bray, we take the female lead
As a boutique legal practice, we are proud to take the female lead, with women comprising three-quarters of our incredible team. Our Practice Manager and Senior Paralegal, Debbie Davis, has brought her unique and invaluable skillset to our leadership team for over 45 years.
Our passion for supporting women in business doesn't end there — at only 24 years old, Bridie Edwards, our Commercial Law Associate Solicitor, is the youngest Councillor of the Queensland Law Society in history! Her involvement in five committees brings a fresh perspective to the council. In turn, she helps to build the momentum of the shifting paradigm that young lawyers, especially female lawyers, inspire to drive.
The traditional approach to operating legal firms is being revolutionised through the remarkable intellect, investment and involvement of some extraordinary women in our business. As a firm, we strive to provide an environment for all lawyers to further their skillsets and certifications and provide every opportunity possible for our female cohort to thrive.
Support for women in business & women entrepreneurs
Whether you are a business owner who runs your own business or are diving into the world of entrepreneurship, business success is often not attainable without utilising a support system. Building a support network is one of the most crucial steps in overcoming the challenges of running companies and starting businesses. Similar to how a personal trainer helps to guide, coach, lead and inspire us physically — so too can having a coach to help spur your professional growth and reach your full potential.
Accessing a community of like-minded women, defying social expectations of what it is to be a woman in business and forming a solid business plan are some of the fundamental building blocks to help achieve career success.
At Bradley and Bray, we understand the importance of your business, which is why we're proud to support women in businesses of all shapes and sizes. From small business owners to an entrepreneur or CEO, our team of succession, business and commercial lawyers have your back so that you can lead from the front.
This article is general in nature and does not constitute legal advice. If you require legal advice in relation to your personal circumstances, you must formally engage our firm, or another firm to provide legal advice in relation to your matter. Bradley & Bray lawyers takes no responsibility for any use of the information provided in this article.
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