This International Women’s Day, CEO Insights India magazine is sharing best business ideas for women entrepreneurs from our very own featured women entrepreneurial journeys. Our top 10 women’s guide to becoming your own boss list features top women empowerment and success stories. These are inspiring business ideas for women looking to traverse their entrepreneurial route from our very collection of successful women business leaders. They are among the 50 percent who empower India’s startup ecosystem which is considered to be the third largest in the world. In that, 14 percent of women make up about 8.5 million, with 20 percent representing women-led business in MSME, according to Mass Challenge and BCG. Women play a huge part in India emerging as a powerhouse of entrepreneurial endeavors is crucial. The reason for that is the blend of opportunities like education provision, access to capital and supportive government policies, with women’s ability to drive innovation, diversity, pitch new perspectives and problem solving to the table. The product of that blend is the transformation that is turning into an attractive destination to make business ideas into a reality. Picked from the best, here are valuable tips shared by successful women from their real life business and entrepreneurial experiences.
Anuja Karlmarx, Director Human Resources, ITW India (Automotive Division)
“The role of HR has to take a turn. They should engage in developing their Talent in the New Era. At the same time whatever People were doing with great efforts and getting appreciation for that has now become simplified. Hence the challenge is to push themselves which will drain them. Hence HRs should be able to deal with all the insecurities of employees and encourage them to advance”.
Deepti Sharma, Director, ThinkerPlace
“There is a lot of scope in building habit-forming products if prodigious and intelligent minds actually start thinking about it and create activities and products that inculcate valuable habits in children. The ideation of such products is a challenge that we have to overcome for children to prosper in the future”.
“It is not solely the responsibility of educational institutes to implement such new-age concepts. Parents can also step in and introduce STEM Education to their children by getting them various STEM toys that they can build on their own at home. There are various STEM educational DIY Toys that simplify tough technical concepts for kids. STEM Education can be the future of the next generation, it has the power to transform the minds of children and will lead them toward innovation”.
Lalitha Indrakanti, CEO, Jaguar Land Rover Technology and Business Services India
“Partnerships are very important because wanting to do everything by ourselves and reinventing the wheel is not the right approach for any GCC to follow. Partnerships enable GCCs to collaborate with other companies, experiment with new ideas, and co-create innovative new-age tech solutions, which will also lower GCCs’ risk of failure and commercial impact. On the other hand, while regulatory changes will no doubt have a significant impact, they cannot be directly controlled by the GCCs”.
Rency Mathew, People Team Leader – Sabre India
“In a hybrid setting, managers have to deal with several employees, each of whom have different working styles. Every member of the team share varied work history and distinctive personalities that dictates how well they adjust with the rest of the team. Managers must create an environment to enable each team member to feel comfortable enough to share /speak with their colleagues, in an open work environment. Create a strong base of trust”.
“A new and fresh perspective can enrich the team. In turn, the team can use this moment to showcase inclusive behavior that welcomes the value of difference”.
“Time is not replaceable. Be intentional about how your team spends their time. Carefully review when your team should – Collaborate, focus on completing individual task and Recharge.Managers must take a more proactive and efficient approach, now more than ever, to foster a culture of creativity and collaboration”.
Rekha Narendra,Vice President and HR Head India, RealPage
“Our mental state is a result of several years of conditioning and sometimes the issues are more deep rooted than what you can see on the surface. Situations and incidents at work may end up aggravating these issues. As responsible employers it important to give our employees access to professional help if they require it. Employee Assistance Programs offer anonymous counseling services by trained professionals".
The right intervention at the right time can go a long way in helping the employee not only overcome his or her personal issues but also become more productive.
“Organizations must introduce activities and forums which encourage employees to bring their complete selves to work. Involvement in corporate social responsibility will give employees a sense of fulfillment and meaning”.
Sneha Gurjar, Director, CEM Engineers
“Businesses are operating in a rapidly changing environment today. New technologies are popping up frequently, markets are changing, end-to-end expectations are evolving, and business structure is also changing”.
“Balancing between short-term and longer-term objectives requires changing lenses frequently. Focus on organizational learning and innovation is maintained across projects; it's the short-term goals which demand shifts and balance along the way. Hinging decisions on long-term goals may not aid the business in the short term but would align with the core values in the long run”.
Pearl Tiwari, Director and CEO - Ambuja Cement Foundation
“Indian women face significant ‘time poverty’ due to their disproportionate burden of unpaid domestic work, second only to Kazakhstan. Gendered responsibilities like cooking, cleaning, and fetching water limit their access to education and employment”.
“Women's participation and income generation provide purpose, self-worth, and social connections. Earning instills confidence and respect, transforming family dynamics. This empowers positive change in families and communities, turning women into influential leaders. To unlock their potential, women need educational and economic opportunities”.
“Women are more than mere homemakers; they hold untapped potential. By freeing them from time constraints and societal restrictions, we unleash their full capabilities and drive progress”.
Eshleen Jolly, Founder, Learning Lingos
“Fostering women entrepreneurship in education is not just a matter of equality; it's an investment in the future of education and the empowerment of tomorrow's leaders. Women have a unique perspective to offer, and their involvement in education entrepreneurship can lead to a more diverse, innovative, and inclusive educational landscape. By addressing the challenges and promoting supportive policies, we can empower women to take the lead in education, ultimately benefiting students and society as a whole. As we work towards a more equitable and inclusive future, let us recognize the vital role that women entrepreneurs in education play in shaping tomorrow's leaders”.
Dr. Shyama Nagarajan, Managing Director, Saha Manthran
“Life is beautiful, to be cherished and protected with both hands! In this grand tapestry, believe in the harmony, and the delicate balance of the universe, and invest in building relationships. Shift focus from what you are doing, to what you are capable of the inner strength, for ‘Karmanye Vadhikaraste Maa Phaleshu Kadachana’. Cultivate your thoughts, as Thinking is the seed of Manifestation. Watch movies like ‘Lucy’ and read books like ‘Probability Theory’, ‘The Auto biography of a Yogi’ and ‘The Biology of Belief’, which have taught me some valuable lessons”.
Varsha K, Director - Business Development, Interplex
“Currently, the 2-wheeler segment is very promising and witnessing a significant demand across the nation. However, the sales of EVs have been impacted recently because of FAME incentive being partially withdrawn by government. As a result, every EV company is investing heavily in their R&D efforts to come-up with new and disruptive technologies to cut-down costs related to material &operations to maintain competitive edge on pricing and performance. Few Gigafactory organisations are working on swappable battery concepts, wherein the complete Battery, BMS & cost of establishing charging infrastructure could be scoped out of OEMs. This shall enable consumer only to pay for energy consumption/ usage”.