Competence vs. confidence: Which is more important for women’s success?
Women’s competence and abilities have grown more and more obvious over the last few decades. Women athletes are breaking barriers and demonstrating skill never before imagined. Women scientists are now being recognized more and more for their breakthrough research and methods. Women business leaders are “leaning in”, crushing the glass ceiling and achieving levels of success unseen of 20 years ago. Not one, but two women political candidates for President of the United States have surfaced and have been welcomed to the parties by their peers and the American public. Women entrepreneurs are starting companies at a rate that is outpacing their male counterparts. Success for women in almost every field is growing and becoming more obvious.
Why then do we see women entrepreneurs receiving less than 10% of the capital available in the market today? Why are women run start ups’ growth rates by and large, lower than male run startups? Why are women run start ups seen as having less potential than male run startups? For all the obvious competencies demonstrated by women, why is it that more are not ‘killing it’ in the early stages?
Women’s acute lack of self confidence
Self doubt is the single largest factor inhibiting women. According to an article appearing in the April 14, 2014 edition of The Atlantic, “Compared to men, women do not consider themselves ready for promotions. They predict they will do worse in tests. They generally underestimate their abilities.” As it turns out, test after test in all parts of the world consistently show that success correlates just as closely with confidence as it does with competence. Of course women’s success rates would be low when facing aggressive Venture Capitalists. Voilà. Perhaps we have discovered the biggest inhibitor and therefore the hidden secret to women’s success in early stage companies.
LaunchPad2X bolsters confidence to drive success in women led companies
The promising part of this story is that confidence can be acquired, honed and applied. Period. When women test takers are told that they will do well prior to the test, their scores dramatically increase. Just as one nudge can rattle a women’s confidence, a similar gesture can remind her that she can be highly successful.
The LaunchPad2X program applies techniques to cultivate confidence. Through a series of situational scenarios, communications and business exercises, women demonstrate an almost immediate sense of self confidence and poise. They become increasingly confident throughout the program and continue to act in a consistently confident manner.
The results confirm the training. With an average growth rate of 300% over the past 3 years, these women are setting a new benchmark for performance and reaching levels of revenue they had not dreamed of prior to the program. Recognition has come to almost every CEO that has participated. From winning business competitions to being named Business Person of the Year, these women have proven that, with a little nudge of self confidence, there are no limits to success.