Women Entrepreneurs Share Their Struggles: Entrepreneurship is not an easy path to take. Business owners must face a number of challenges, such as saving for retirement, in order to flourish, including issues with cash flow and marketing. Despite the fact that women own an increasing percentage of enterprises in America, these difficulties are particularly notable for women.
We’ll look at some statistics on women-owned firms in the US and offer advice on how successful female entrepreneurs have handled their particular difficulties.
How many companies in America are run by women?
There were 1.1 million companies run by women as of 2019. According to this statistic, women own 1 in 5 enterprises. These companies generated $1.8 trillion in revenue while employing 10.1 million people. The SBA also points out that from 2014 to 2016, the growth rate of firms owned by women was twice that of enterprises owned by men.
What difficulties do female business owners encounter?
The female company owners we spoke with discussed a variety of obstacles that women confront as well as the standard hazards of entrepreneurship. Finding funding, creating a support system, overcoming feelings of inadequacy, and overcoming the fear of failure are some of these difficulties. Disrupting societal norms, being heard and seen, and achieving a healthy work-life balance are additional difficulties.
Being alone
The main issue I underestimated was how lonely being a solopreneur would make me feel in my professional life after leaving an office of 30 people and a job where it was my responsibility to foster community. Even though I was meeting with clients and conducting one-on-one sessions, I was unable to share my worries, uncertainties, and doubts with current or potential customers.
The answer: “I began by contacting people I had met in the neighborhood through the neighborhood Chamber of Commerce Women in Business group, then went online to start looking for more women in business-focused events, meetings, conferences, book clubs, etc.
Establishing a strong first impression
Making a trustworthy first impression is one of the main difficulties that women business owners confront. We frequently face prejudices based on our looks, making it difficult for people to identify us as serious businesspeople.
Answer: “To get past this obstacle, I began announcing my name and company whenever I shook hands. ‘Hello. From Sarah Theresa Communications, I’m Sarah Pendley. This establishes authority and immediately dispels any ambiguity regarding my position. As the conversations went on, I observed that I was treated more seriously as an entrepreneur.
Balance between work and life
Finding balance is my biggest problem as a female entrepreneur because I am a mother of two and the owner of three enterprises. Your time and heart could feel like they are being pulled in a gazillion different places at once.
However, establishing timetables and routines has been one thing that has enabled me to reach the balance I’ve been yearning for.
Receiving uninvited counsel
Everyone wants to tell you what to do, especially guys and others who are not even remotely connected. I’ve endured mockery, lack of respect, and belittling.
Answer: “The kindest way I’ve discovered to get through this is to keep my composure and repeat in my brain, silently, ‘I’m not here to prove anything to anyone. I chose not to respond to comments and instead let the concept linger with me. People will come along who will appreciate and comprehend you. I also grin and keep working because I only have so much energy, and I have to be here every day.
Eliminating self-doubt
I think the largest obstacle women entrepreneurs confront is self-doubt brought on by past bad relationships or experiences. Some people can overcome insecurity, but it can also cause the women’s community to support women less. Women may, however, overcome their self-doubts, take chances, and have complete confidence in their new undertakings when they support one another.
Answer: “Identifying the root of any insecurity is the first step in conquering any difficulty, which requires going deep. Why do you have self-doubt? We cannot overcome these obstacles to our achievement until they are acknowledged, confirmed, and let go.
