Entrepreneurship was once exclusive to men but not anymore. With each passing year we have more and more women stepping in the ring and competing fiercely with their competitors. What we have now are not just ladies running their small businesses but women who are inspiring and can take up the leadership role as men do. Despite this change, these business-savvy leaders still face roadblocks and challenges day in and out – Things men would never come across (ok, no more comparisons!).
It’s time to debunk some of the myths, or you may say challenges, faced by women before starting a business…
You Need to Act Like Men
This is particularly related to women who work in a male dominated industry. Imagine when you enter a packed conference hall and there is hardly anyone of your kind to be spotted. Certain women believe that in order to succeed in such an environment they have to behave like men. This is where you lose your originality but not before you lose the confidence.
This is what Sharon Rolands, CEO of ReachLocal has to say about “being yourself.”
Solution: Just be confident!
Women-owned Businesses Attract Less Funding
According to a report by Babson College, venture capitalists are less likely to invest in businesses owned and run by a woman. While I’m still trying to figure out why they do that, take a little time-out and think if you really need an investor? If you don’t – move on! In case you do you should understand the investor psyche. They are mostly interested in returns. If you have a solid business plan and can convince them with your attitude, there is no way they are not going to invest.
Solution: Have a solid business plan and again – “be confident!”
Help & Support of Other Women Business Owners
Now this is true and not very pleasing to hear. Women business leaders need to create a culture of help and support where new entrants can learn from their experience and excel.
Solution: Take it as it is but learn to give!
Fear of Failure
According to a recent research, women business owners fear failure and this has become a top concern for women looking to start a new business. Failure is indeed a real possibility but it should not be taken as negative.
Solution: Learn how to defeat that inner, negative voice that prevents you from taking action!
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Would you like to add something to the list? Share it in comments below!