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3 Lessons Every Entrepreneur Can Learn From Women Succeeding In Male-Dominated Industries

by crypetonews
December 17, 2024
in NFT
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Opinions expressed by Entrepreneur contributors are their own.

I grew up in a 600-square-foot home with eight people — my siblings, mother and grandmother. Having just enough means to get by meant if you wanted something, you had to work for it.

One of my first jobs was working for my sister’s interior plant company, which I eventually bought at 19. However, running a business as a young woman in the patriarchal ’90s and early ’00s presented its own set of challenges.

My business at the time was deeply rooted in male-dominated sectors — alcohol, sports and automotive. Operating in such intensely male-oriented spaces brought a whole new level of difficulty. Most of my colleagues and clients were men, especially in beer, where my work involved branding and promotional items that were heavily linked to sports culture.

But, being in the minority in these niches at a time when women in business were more likely to be dismissed than encouraged taught me to be adaptive and resilient.

Today, women-owned businesses are on the rise, yet women entrepreneurs still receive less than 2% of venture capital funding. Obstacles can be particularly tough to navigate in male-dominated industries like mine.

Here are three hard-won lessons that have helped me succeed in these spaces. I believe every entrepreneur, regardless of industry or gender, can learn from them.

1. Diverse teams thrive in challenging markets

After the successful acquisition of my first company, I started an executive gifting company, but I quickly realized it wasn’t where my passion lay. I had to reconsider my direction. A chance request from a client inspired me to pivot into branded merchandise. It was a moment that highlighted the importance of saying “yes” to unexpected opportunities and figuring out the logistics later.

Beer, wine, and spirits were big markets for branded merchandise, and one of our first major clients was The Mark Anthony Group, which was known for setting market trends. At the time, the industry was heavily male-dominated, with leadership roles largely occupied by men. Even today, it’s estimated that only 2.9 percent of breweries are owned entirely by women.

Pivoting into the industry was difficult, but I was inspired by their CEO, who largely empowered women into leadership roles long before diversity, equity and inclusion efforts were a common part of corporate culture. Witnessing that kind of inclusive leadership aligned with the values of how I was raised. Both my grandmother and mother were pioneers in women leadership and reinforced how I wanted to run my company.

Research consistently shows diverse teams are better equipped to pivot, problem-solve, and remain resilient in the face of challenges. A study by Deloitte found inclusive teams outperform their peers by 80% in team-based assessments.

Diverse teams bring varied perspectives and approaches, which means they’re more adaptable and better prepared to handle disruptions and innovate on the fly. In my experience, these qualities have been critical in navigating the evolving demands of running a business.

2. Find the gaps your competitors overlook and fill them — flawlessly

When I started out, I quickly realized that to succeed in my industry, I couldn’t just match what others were doing — I had to offer something they weren’t. Working in highly competitive and male-dominated industries meant I faced not only skepticism but also a lack of resources and support that my male counterparts often took for granted.

This forced me to find my own niche, one that didn’t merely replicate what was already available but filled a void my clients needed. In our case, that meant transforming our company into a creative agency, trend consultancy, production and logistics house all in one. By doing so, we filled a critical gap in the industry, all while saving our clients the cost and hassle of hiring multiple service providers.

For any entrepreneur, this approach is a powerful one. In competitive markets, it’s not enough to keep pace — you have to know where competitors are falling short. Once you’ve identified the market void, it’s equally important to deliver impeccable results.

I’ve learned that the best way to stand out is to ensure that your offering is better designed, better built, and delivered exactly as promised. A McKinsey study shows that companies with a strong reputation for quality enjoy higher customer loyalty and better long-term success rates.

Standing out isn’t just about doing more of the same. It’s about solving problems others overlook, adding value where it’s needed most, and delivering with unwavering precision and high standards.

Related: Why Paying Women An Equal Wage Helps — Not Hurts

3. Be diligent about managing growth and cash flow

Scaling a business brings unique challenges, especially in industries like ours that demand significant upfront investments. For entrepreneurs, particularly those who receive less outside funding, financial discipline becomes not just a skill but a necessity. Managing cash flow and having a keen eye on the financials is essential to surviving and thriving, especially when the resources to fall back on are limited.

This isn’t just a lesson for women entrepreneurs — it’s something I’ve emphasized with my own sons, who’ve grown into successful entrepreneurs in their own right. Each brings his own unique strengths to his business, yet they both understand that if financial management isn’t their forte, they need to hire someone who excels at it.

Research supports that the importance of financial discipline for entrepreneurs in today’s competitive landscape. According to a recent PitchBook report, startups of all types face funding challenges, with less than half receiving venture capital support. This scarcity of funding emphasizes cash flow management and financial resilience.

Competing in male-dominated industries over the last three decades has taught me this: success comes down to the ability to rise above the inevitable obstacles that come your way. Challenges will always present themselves. When they do, you have to adjust and find new ways to meet market demands.

What inspires me most is watching entrepreneurs succeed against the odds. I’ve seen it firsthand with my sons — both achieving seven-figure success at a young age. This kind of success doesn’t come without sacrifice. My youngest has slept on his office floor to get through busy periods, and my oldest became a 30 Under 30 honoree by overcoming countless hurdles. They’re writing their own stories, and that’s what true success is about. Regardless of gender, grit and attention to detail are what set great leaders apart and drive lasting impact.



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Tags: EntrepreneurIndustrieslearnLessonsMaleDominatedsucceedingwomen
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