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Entrepreneur & Innovation Exchange
Published online at EIX.org on February 18 2020
DOI: 10.32617/438-5e4bda061a20d
'Imposter Syndrome' Holds Back Entrepreneurial Women
Kimberly Eddleston (Northeastern University)
Jamie Ladge (Northeastern University)
Keimei Sugiyama
KEYWORDS: Management of Companies &
Enterprises, Entrepreneurship, Leadership, Women.
The number of businesses run by women continues to
grow – by 59% between 1997 and 2013 – and women
now run between a quarter and a third of all private
businesses worldwide. Yet their businesses often have
fewer assets, grow more slowly and are less profitable
than male-owned businesses. Most concerning is how
they underplay their achievements, as business owners,
compared to men, and their reluctance to call
themselves "entrepreneurs."
Why is this happening? Our qualitative interviews
suggest that women business owners see the term
"entrepreneur" as something beyond their reach and
only worthy of the most successful business owners.
Further, studies have shown that women business
owners struggle more than men because of
discrimination from banks, investors, potential business
allies and even family members and friends. Some
women intentionally limit the size and ambitions of their
business in order to free up time and mental space for
their relationships, and are happy with that
compromise. But others who want to grow get in their
own way because of how they see themselves. This has
been the focus of our research.
Specifically, we looked at how women business owners
were affected by the “imposter phenomenon,” which is a
tendency to doubt one’s abilities and attribute any
success to fraud or luck rather than to hard work.
Imposters feel that they are not worthy of their position
or title, and thus experience much stress because they
feel they are acting a part and are not qualified for their
position. As a result, the imposter syndrome makes it
harder for high-achieving women to internalize their
successes and see them as proof of their capabilities.
Overcoming this mindset is critical because it limits
women’s ability to grow their businesses and contribute
to their communities and society.
This article presents our research’s conclusions and
some suggestions for helping women improve the
success of their businesses; the full study can be read
here
(https://www.sciencedirect.com/science/article/pii/S000
7681319300710?via%3Dihub) (https://www.sciencedir
ect.com/science/article/pii/S0007681319300710?via%
3Dihub) .
Roots of the Imposter Syndrome
One reason why it’s easy for women entrepreneurs to
suffer from the imposter syndrome is that
“entrepreneurship” is typically depicted in masculine
terms: “captain of industry,” “trailblazer,” “pioneer” and
others. While the attributes of a successful entrepreneur
have historically focused on masculine-sounding traits
(ambitious, aggressive, risk-taking and natural born
leader), women have been socialized to be nurturing,
selfless and collaborative. And despite women’s gains
in business, society still sees the business world in
masculine terms.
For women, these internal and external definitions can
make the world of entrepreneurship and business
ownership seem alien and at odds with their very
identity. People tend to devote the most attention to the
roles that feel most at home with their strongest identity.
So even if a woman works hard and grows her
business, she may see her achievements as a stroke of
luck; achievements attained despite her lack of
masculine entrepreneurship traits. Rather than gaining
confidence from her accomplishments and going on to
pursue loftier goals for her business, she may fret that
others will soon find out that she really doesn’t have “the
right stuff.” Studies have found that successful women
suffer more from imposter fears than do successful men.
As a result, men have a self-enhancing bias and women
have a self-derogatory bias.
Three factors can make this worse: family demands,
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(Eddleston, Ladge & Sugiyama, 2020) Page 2
lack of role models and firm performance. Society
demands different things from attentive mothers and
working professionals, and women who are taking care
of both a business and their families often feel great
emotional strain and guilt. They worry that looking too
good on the job will make people assume that they lack
warmth and that family relationships must be suffering.
Compounding the problem is that few role models exist
of women who’ve excelled in both realms. Research has
shown that both men and women look to exemplars in
similar roles when they adopt their own behaviors, and
having positive role models helps them be more
successful. Without these role models, women business
owners have a skewed view of their firm’s performance:
if it does well, they see it as a lucky fluke, and if it’s
struggling, they see it as a sign that they are in over their
heads.
The Remedy: An Alternate Lens
Changing how women entrepreneurs view their roles
and strengths will take time. The business world will
likely persist in using masculine attributes to define
leadership and successful entrepreneurship. However,
studies tend to show that male and female leaders are
more similar than different in their traits, thereby
suggesting that no "gender advantage" exists in regard
to leadership. Where men and women tend to vary is in
their views of success and what it takes to attain
business goals. As such, women business owners
should carve out a new definition of entrepreneurship
and business success, one that capitalizes on women’s
potentially greatest advantages: their emphasis on
collaboration and an inspirational, transformational
leadership style. Studies have pointed out that female
leaders, more than men, have the capacity to gain
employees’ trust and inspire them. This can also give
them an edge with potential investors and customers.
While work-family conflict contributes to the imposter
syndrome – especially if the woman entrepreneur feels
she must make a dramatic shift from one role to the
other – research has shown that women who feel
successful in both realms perform better in each. Since
a woman entrepreneur can be her own boss, she can
build a structure and culture in her company that
decreases uncertainty over work-life roles, thus
promoting work-life balance among her employees that
contributes to their work performance and
organizational commitment.
Good mentors and role models can also provide women
with perspective on their own performance. Research
has shown that women who receive no feedback expect
less from themselves than men do, but women and men
who receive equal amounts of feedback have the same
confidence in themselves. A mentor’s feedback can not
only reinforce a woman’s understanding of her
competence and ability as an entrepreneur, but can also
make it easier for her to attribute her success to her
own capabilities rather than luck.
University-based business and entrepreneurship
programs can also play a role in encouraging new
definitions of the attributes of successful leaders –
definitions that give equal value to women’s strong suits:
team-building, inspirational, transformational attributes.
Classes should include case studies of women leaders
who built and managed strong businesses, using their
own way of leading and carving their own pathways to
success. Universities can also play an important role in
promoting women’s entrepreneurship by conducting
research that challenges the old myths and stereotypes
of "think entrepreneur, think male."
Additionally, women can subdue imposter syndrome
fears by knowing their strengths. A useful exercise in
developing this awareness is the “Reflected Best Self.”
(https://hbr.org/2005/01/how-to-play-to-your-strengths)
This exercise provides women with a way to identify and
understand their own strengths, while also allowing for
women to see their unique background as a strength in
understanding their target market. A powerful example
is that of the highly successful entrepreneur Bethenny
Frankl, who talks about how she uses her perspective
asawoman(https://westchestermagazine.com/life-style/
real-housewives-bethenny-frankel-talks-new-body-
positive-denim-line-disaster-relief-efforts/)totapintoher
target customers’ needs and interests.
While it won’t happen overnight, in time these efforts
can re-shape how the business world defines
successful entrepreneurs, with a new appreciation for
uniquely female strengths. More importantly, they can
help women business owners shed their imposter
syndrome fears and believe in themselves. Women
business owners need to take credit for the businesses
they have built and proudly refer to themselves as
"entrepreneurs." In turn, we can remedy their imposter
syndrome fears and inspire the next generation of
women looking to start their own businesses.
Copyright © 2020 Kimberly Eddleston, Jamie Ladge, Keimei Sugiyama, Published by
Entrepreneur & Innovation Exchange
EIX.org (2020)
DOI:
10.32617/438-5e4bda061a20d
(Eddleston, Ladge & Sugiyama, 2020) Page 3
Our full study can be read here
(https://www.sciencedirect.com/science/article/pii/S000
7681319300710?via%3Dihub)(https://www.sciencedir
ect.com/science/article/pii/S0007681319300710?via%
3Dihub) .
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Additional search terms: feminism, female founders,
women business owners, glass ceiling, sexual
discrimination, sexual harassment, bias, opportunity
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Copyright © 2020 Kimberly Eddleston, Jamie Ladge, Keimei Sugiyama, Published by
Entrepreneur & Innovation Exchange
EIX.org (2020)
DOI:
10.32617/438-5e4bda061a20d
