Ninety-five percent of female entrepreneurs who either launched their own startup company, or hold a leadership position in a startup company, feel that having an informal advisor or mentor was a key factor to their success, according to KPMG LLP’s 2015 Women Entrepreneurs Survey. In addition, nearly 80 percent of female entrepreneurs feel that having another woman as their advisor or mentor made a significant impact on their career.
“Having a mentor can be a game-changer for an entrepreneur,” said Brian Hughes, National Leader of KPMG LLP’s Private Markets Group. “The key is to identify the right person and develop an open and honest dialogue about what you both hope to get out of the relationship. By building a rapport and having regular cadence with a mentor, entrepreneurs can learn valuable information and advice that will help them on their paths to success.”
The survey, led by KPMG LLP, the U.S. audit, tax and advisory firm, was conducted in mid-September, and polled more than 200 women business leaders from the 2015 Inc. 5000 list, an annual ranking of the country’s top 5000 fastest-growing private companies. The results of the survey, published in a report titled “Women Entrepreneurs: Passion, Purpose and Perseverance” by KPMG LLP’s Private Markets Group, comes on the heels of the firm’s participation as one of the sponsors of the 2015 Inc. 5000 Conference and Gala.
To read the full report, visit http://www.kpmg.com/us/impact50.
When asked to identify the traits that are critical for a successful CEO or founder to possess, female entrepreneurs most frequently cited leadership (83 percent), confidence (80 percent), good communicator (70 percent), determination (66 percent) and risk-taker (57 percent). When asked to identify the traits that they personally possess and that have helped lead to their success, female entrepreneurs cited determination (82 percent), confidence (72 percent), competitiveness (69 percent), leadership (68 percent) and passion (61 percent).
“Building a company – and maintaining its success – takes confidence, determination and the ability to take risks,” said Lee Anne Sciambra, Managing Partner of KPMG LLP’s New Orleans office and Leader of the Houston Business Unit Private Markets Group. “Women entrepreneurs who are able to take these traits and combine them with a strategic vision for their business will not only capitalize on today’s climate of disruption, but they will be the disruptors themselves.”
According to the survey, female entrepreneurs believe that having a strong work-life balance is also critical to success. In order to achieve this balance, they utilize flexibility to