For many of us, it should come as no surprise that female entrepreneurs make up the fastest-growing segment of business owners, not only in the U.S. but around the world. As the Global Entrepreneurship Monitor Women’s Entrepreneurship 2016/2017 Report states, "Female entrepreneurship continues on an upward trend globally. Latest research shows that women’s entrepreneurial activity is up 10%, closing the gender gap by 5% since 2014. In the past year, 163 million women were starting businesses across 74 economies worldwide, while 111 million were running established businesses." Moreover, women now control over $20 trillion in annual global consumer spending, and that number is expected to rise by an additional $10 trillion in the next several years.

Yet, for all their contributions and innovations, women still do not receive the recognition they deserve. This is especially true when it comes to the accounting and legal professions, both traditionally male-dominated.

Changing, but not fast enough: gender inequality in law and finance leadership

Did you know that women entrepreneurs represent the fastest-growing segment of business owners in most countries of the developed world, including the U.S.? In fact, according to the Women’s Entrepreneurship Report, 63 of the 74 featured economies have experienced a 10% increase in overall female total entrepreneurial activity. Women control over $20 trillion in annual consumer spending across the world, and that figure is expected to rise by another $10 trillion in the coming years.

Yet in spite of this substantial worldwide growth, women do not get the necessary recognition they deserve. Below, I showcase three women entrepreneurs who went from zero to hero and in the process, made a name for themselves in the male-dominated world of business. Their stories highlight how woman-powered leadership can lead to highly innovative solutions that benefit everyone in the company, as well as their customers. 

Read how they are doing things for others, leveraging their ideas and creating big solutions to serious problems.

Finally, "female CEO" is not an oxymoron. 

Yes, women entrepreneurs have come a long way over the past several decades, but it wasn't so long ago that they had little to no influence in the business sector. Scores of women have changed all that but one who stands out as one of the first is Brownie Wise, a single mom who helped build a plastic food-storage empire known as Tupperware. Talk about a Blue Ocean strategic thinker!

Have you heard of the “third billion?” Even if you haven't, you're definitely going to feel their impact. “Third billion” describes a billion women from emerging markets who are going to join the global economy as entrepreneurs, employers and employees over the next decade. From Turkey to India, women entrepreneurs are taking leading roles in this global shift, transforming their local economies and their communities. Oh and in the process, changing the world.

Case in point: The Global Entrepreneurship Monitor study looked at 59 economies around the world and found that women are creating businesses at a higher and faster rate than men in three economies, and at a nearly equal rate in four others. Specifically, the startup rates by gender are comparable in Brazil, Ecuador, Switzerland and Uganda, and in Nigeria, Ghana and Thailand, the rate of new women entrepreneurs is higher than that of men. In the remaining 52 economies, the proportions of men startups are higher than women, in some cases, up to six times higher.

This is excellent news on a global scale as it signals a growing positive trend. After decades of legislative, policy and socio-cultural changes that have empowered women by supporting and training them, the world is finally placing women in leading business roles.

Not only transforming economies but communities too

Did you know that firms led by women are more profitable? And that the number of women-owned businesses grew 45% from 2007 to 2016, compared to only 9% growth in overall businesses? Clearly, as women have taken on greater leadership roles in the business world, it’s paying off for both them and business, as I explain in my recent article for smallbizdaily (which you can read here).

As a corporate anthropologist, what interests me about the rise of female business leaders is their ability to restructure company cultures in order for women to thrive in the workplace. But then, what type of culture do women really want and is it all that different from what men want, too?

Recent research conducted by my firm, Simon Associates Management Consultants, revealed that in many ways, men and women want similar things in the workplace. Both prefer a strong clan culture that emphasizes collaboration, teamwork and a focus on people.

What kind of workplace cultures should women in leadership positions create?

Here are three ways women leaders can make the workplace more attentive to the needs of both men and women:

Are women good for business? You better believe it.

As women have taken on leadership roles, it’s paid off for both them and business

As I cite in a recent article in WE magazine for women, a study by the Peterson Institute for International Economics found that firms with women in the C-suite were more profitable. (Read the article here.) This should come as no surprise, given that the number of women-owned businesses grew 45 percent from 2007 to 2016, compared to just a 9 percent growth in the number of businesses overall.

For me, as a corporate anthropologist and culture change expert, this begs the question: With all these women in leadership roles, will they change workplace culture to make it more female-friendly? (Uber, Fox News and The Weinstein Company, take note.) Furthermore, what type of culture do women really want and is it that different from what men want, too?

To answer this and other gender-workplace issues, we at SAMC did some research. As it turns out, in many ways men and women want similar things at work. Both prefer a strong clan culture that emphasizes collaboration, teamwork and a focus on people.

Important lessons for women who head up or start their own businesses

I have recently been interviewing women entrepreneurs who have built successful companies. Some transformed start-ups into multi-million dollar businesses, often selling them for huge returns. Others were Blue Ocean Strategists®, saw an unmet need and determined how to solve it, adding value in innovative ways. Many are taking old family firms and turning them around. Throughout our conversations, one theme that has emerged again and again is the importance of culture.

As well as good ideas and committed employees, culture is what has powered these women's success

As Lisa Tomasi writes in PositivityDaily, these women seem to have a “secret sauce” for staying positive and spreading it around their organizations. In my opinion, that "secret sauce" is their ability to intentionally create a workplace culture that's collaborative and empowering, yet still focused on results. I elaborate further on these observations in a recent article on Forbes.com. You can read it here.

When women create companies, they don't just mimic men. They have their own style of building better businesses, better teams and better results.

5 principles for building businesses where employees work well together and innovative ideas thrive

What I am finding throughout my interviews is that a combination of these five tenets is often their recipe for success:

I recently had the wonderful opportunity to be interviewed by Jodi Flynn for her podcast Women Taking the Lead. When I learned that the goal of her organization is to inspire women to overcome self-doubt so they can lead with confidence, integrity and a sense of humor, I leapt at it. Right up my alley!

Over the course of our conversation, Jodi asked some very interesting questions which allowed me to discusst what I'm passionate about, such as corporate anthropology, culture change,  women CEOs and especially inbound marketing. This question really made me think: What would I say to my younger self? My answer: Be an adventurer, stay curious. Don't worry about failing. Pivot and just keep tinkering and trying stuff and sooner or later, you'll hit upon your a-ha moment.

To get ideas for helping your company adapt to change in this fast-changing world, I invite you to take a listen.

To listen to the podcast, click here:

A few days ago I had the pleasure of being interviewed by Eric Dye, professional blogger and founder of EPN (Entrepreneur Podcast Network). He wanted my perspective on a wide range of topics, from corporate anthropology to Blue Ocean Strategy® to culture change to the rise of women CEOs. He was also very interested in my book, "On the Brink: A Fresh Lens to Take Your Business to New Heights" and its stories of companies that have achieved meaningful breakthroughs and growth by applying corporate anthropology to their businesses.

What exactly is corporate anthropology?

During the course of our conversation, Eric asked me the following very interesting questions about how anthropoloy applies to the business world:

• Influential companies like Microsoft and Intel are hiring corporate anthropologists, believing that understanding and molding corporate culture is a worthwhile investment. Your research and career is dedicated to this field. Why do you think anthropology is important to a company?
• How can smaller companies put these concepts to use?
• What is one of the guiding principles of your work?
• What are you working on now?
• If you were to give a business owner only one piece of advice, what would it be?

To listen to the podcast, click here:

Clearly, this is an important time to rethink women’s role in the work force. And, women entrepreneurs are really soaring!