It’s no secret that men and women are very often motivated to act for different reasons. This is pretty much a universal truism that applies equally to personal lives as well as business lives.
BizBuySell.com recently issued the results of a demographic study of individuals pursuing the buying or selling of a business. The survey, which encompassed over 2,000 buyers and sellers, revealed a number of trends that are shaping today’s market and confirmed that even in this area, men and women act for different reasons. But, not surprisingly the survey also revealed a number of areas where men and women were motivated almost equally by the same factors.
Here is a summary of some of the insights garnered by the survey:
1. The desire to be their own boss was cited by 55% of the women surveyed as the primary reason for purchasing a business. On the other hand, men only cited this reason 48% of the time.
2. Desire to earn higher income came in second place for both men and women who desired to purchase a business.
3. Achieving a better lifestyle resulted in another tie, being the third most popular motivator for both men and women to pursue the purchase of a business.
4. 15% of men cited dissatisfaction with their current job as a motivating factor while only 10% of the women cited this reason as a motivating factor for their pursuit of business ownership.
5. Turning our attention to the sell side of the equation, men and women run neck- to-neck as far as retirement being the primary reason to sell their business. That is 39% of men and 40% of women cited this reason.
6. Again on the sell side, the survey found a 10% gap between men and women citing the desire to own a larger business (men 16% and women 6%).
7. Burn-out also scored relatively high as a reason to sell with 22% of women citing that reason and 13% of the men.
The above was abstracted from a February 27, 2014 article by Curtis Kroeker, Partner Contributor and Group General Manager for BizBuySell.com and BizQuest.
For additional statistics and insights click here for the entire article.