What Female Entrepreneurs Should Know
“A woman with a voice is by definition a strong woman
but the search to find that voice can be remarkably difficult.”
– Melinda Gates
Beginning a business can be both an exciting and difficult experience. According to the Kauffman Foundation, the number of new female entrepreneurs is expanding twice as quickly as their male counterparts. But, what obstacles do women encounter while launching a business?
Truly, a significant portion of the obstacles female entrepreneurs confront stem from themselves.
According to studies conducted by the US Small Business Administration, 21% of female entrepreneurs are less enthusiastic regarding sales and business growth. Similar research has indicated that women in business are more inclined to question their judgments and criticize themselves.
In addition, female entrepreneurs are less likely to seek finance throughout the life of their firm. And when they do, they want around $35,000 less than males do.
However, research indicates that female entrepreneurs in the United States rate their happiness three times greater than non-entrepreneurial women.
Therefore, female entrepreneurs are more inclined to question their own company judgments, but they are three times as likely to be happy.
Are you an aspiring female entrepreneur? Here is some pertinent information.
Consider the following before launching a business:
- Follow your gut instinct. Female entrepreneurs are more prone to develop self-doubt. Learn to overcome self-doubt and place your confidence in your intuition.
- Recognize that self-doubt and self-criticism are normal responses when beginning a business.
- Enhance your financial thinking. Asking for money is more difficult for women than for males. To maximize your potential as a female entrepreneur, you must improve your relationship with money.
- You have difficulty obtaining money, requesting money, and boosting your pricing. Why?
- How do you feel about business investment? How do you feel about routinely paying yourself from your business?
- Find a support system. Even if you are launching a firm, you do not have to go on your own. There will be bridges you must cross while beginning a business. Try to:
- Join or create a mastermind group.
- Participate actively in a business community.
- Attend professional conferences and activities.
- Be persistent. As you launch your business, you may face unforeseen obstacles and complications.
- Be prepared to show up even through challenging times and obstacles. If you find yourself desiring to quit up, there is an underlying cause at play. Learn how to persist when you want to give up.
- You must refuse to accept “no” for an answer.
- Features tell, advantages sell. Understanding that customers purchase benefits rather than things is one of the most essential business principles.
- How will your business affect the lives of someone else?
- What benefits do people derive from your business?
- What impact will your product or service have on a person’s life?
Starting a business may be an enriching experience that challenges your present views and allows you to evolve. The most essential thing is to not let self-doubt or self-criticism prevent you from beginning.
Today we own multiple businesses that do over 6 and 7 figures on their own. The first place I needed to start was on was me and the rest was easy.
There is no need to launch a million-dollar business overnight. Start by committing to showing up every day.
Contact us if you require assistance in starting a business or making it grow even faster. We can also help you not let self-doubt and self-criticism get in the way of getting started.