The playing field isn’t fair, so it shouldn’t come as a shock that women find it harder in the corporate world than men. The key isn’t to let the outrage overcome you, as it rightly does, but to focus on the barriers standing in your way. Then, with research and a positive attitude, you can increase the odds of launching a startup and transforming it into a successful brand.
Okay, it sounds easy written down, when really it’s a tough slog. However, knowledge is one of the great equalizers as it lets you learn from your, and other people’s, mistakes. Here are four more ways to propel yourself as a femalepreneur.
If you take the UK as an example, the funding gap is clear. Only 9% of the funding that comes into Britain goes to female-led businesses, which is shocking. So, if you are lucky enough to secure grants and bursaries, the trick is to spend the money wisely on features such as SEO services and recruitment. You shouldn’t be scared to splash the cash – you need to speculate to accumulate – yet you must be wary of frivolous spending. After all, startups with women in charge won’t get too many more opportunities from a financial viewpoint.
Lack of Mentors
Women don’t need people to tell them what to do and what decisions to make. Like all humans, women work better when they have people to bounce ideas off. You can call it a mentor or contacts or whatever, but the stark reality is that there are fewer of these resources for the ladies. It makes sense if there aren’t as many female entrepreneurs in the game. Thankfully, business networking strategies exist, and they work effectively. By nurturing connections, you can lean on friends and peers when the industry is inevitably rough on you.
Some women want a career, others want children, and some want to mix challenging job with a family. Obviously, women find it tough to strike a balance between running a business and juggling a partner and kids, which is one of the biggest hurdles in any femalepreneur’s way. Childcare is the number one option if it’s available. However, it’s costly, which is why relying on family, such as your parents, could be the difference between success and failure. Something to remember is that women with children give back more to the corporate world in their forties, so it might be worth being patient and waiting for your shot.
Fear Of Failure
Compared to men, women are almost 10% more likely to be scared of failing. Two-thirds of female bosses admit that they find it challenging to bounce back from rejection, compared to 55% of men. If you fall into this category, you should understand that failing isn’t a bad thing. Sure, it feels horrible when it happens, especially if you’re in charge and feel you could do more, yet it’s a learning curve.
The true test isn’t being successful from the outset – it’s figuring out what went wrong and why and creating solutions.