The work place is becoming increasingly more diverse. Today, it’s filled with female entrepreneurs following their dreams and taking charge of their own paychecks. A study done by American Express reported that, in 2017, there were around 11.6 million female-owned businesses, generating more than $1.7 trillion in annual revenue.
The women who fought so hard for gender equality all those years ago would be so proud to see how far we’ve come, ladies. And WE should be proud!
However, there are still many challenges that female entrepreneurs uniquely face. The three listed below are the most common—but have no fear, we CAN overcome them:
1. Being taken seriously and included by male-counterparts. In a male-dominated culture where most CEOs are male, women have to fight to be taken more seriously as leaders. Women have been taught to not be too outspoken at the risk of being labeled “emotional,” or “bossy” or other choice adjectives. Part of overcoming this obstacle is simply putting yourself out there—learning to communicate well and speaking up for yourself. Treat yourself and others equally and with respect, and, in time, others will start treating you the same way.
2. Having like-minded peers. To build a solid company, you need to build a solid team and successful network of peers and colleagues. It is important for female entrepreneurs to have other female entrepreneurs by their sides for support and guidance. Start-ups are confusing for many entrepreneurs (gender set aside), and having resources and people you can count on is oftentimes the key to growing a business. To find these peers, you may look into your local small business bureau, or attend networking events. Do some research on other women-owned businesses in your area. You can also get help from your peers on marketing strategies, legal or financial advice, or just establishing connections in the field—all of this will help you grow your company!
3. Maintaining a good work-life balance. Being an entrepreneur, male or female, means you need to have a good sense of time management. When starting a business, you must budget your time the same way you budget your finances. It is common for female entrepreneurs, however, to put aside certain needs in order to tend to family or business, which makes it difficult to establish work-life balance. However, striking a good balance means you’ll be a happier business owner and less likely to burnout. The bottom line is this: take time out for yourself and your health. Schedule time for self-care and do something fun! Make sure you are getting enough sleep, eating well, and exercising at least a few days a week—all huge steps in making sure you remain healthy for your company.
Being a female entrepreneur means a lot of new challenges and obstacles will be in your future, but it can all be managed by building a strong network of supporters, learning to communicate well, and balancing your time well. It will also make a huge difference to meet other female entrepreneurs like yourself, and—eventually—to help others the same way you were helped! That was a game changer for me, personally!
Do you feel overwhelmed by the magnitude of the challenges blocking you from succeeding in business or life? Join the club! Female entrepreneurs are especially prone to mental blocks that keep us stuck wherever we are. If it’s not impostor syndrome, it’s limiting beliefs, a screaming inner critic, self-sabotage…you name it.
But there is a solution. And it starts by scheduling your FREE 30-Minute Talk with Teri! Let me be part of your rock star support team…click the button below to schedule your free call now!
Schedule Your FREE 30-Minute Talk with Teri
I help female entrepreneurs all around the country to overcome their biggest obstacles, get out of their own way, and build the life they’ve always imagined—personally and professionally. Schedule a free 30-minute Talk with Teri and discover the possibilities that are available to you!