Tips for Female Entrepreneurs: Overcoming Obstacles to Achieve Success

Discover Essential Strategies for Women Entrepreneurs to Overcome Challenges and Succeed in Business

It's amazing to hear that there are over 11 million women-owned businesses in the US, generating a whopping $1.7 trillion in sales. But let's not forget the reality of the situation - women entrepreneurs face some major hurdles that can impact their success. That's why, on this International Women's Day, we want to raise awareness of these obstacles and offer some helpful tips on how to overcome them.

As a women-owned business ourselves, we know these challenges all too well. And that's why we're speaking out about it - to make a real change. Because let's face it, we can't do it alone. We need to work towards a larger systemic change, and one of the first steps is to have an open dialogue about these issues.

1 . Defining Social Expectations:

Let's start with the big one: defying social expectations. It can be daunting for us ladies, to attend networking events where we are surrounded by men who seem to have adopted a stereotypically "male" approach to business, one that values competitiveness and aggression.

I'm not one to adopt such a confrontational attitude, and I find it intimidating to be surrounded by people who are. Negotiating with potential clients can be particularly challenging when it seems like everyone else is playing hardball.

But here's the good news: many successful female entrepreneurs have found that staying true to themselves and finding their voice is the key to rising above those preconceived expectations. After all, standing out from the crowd is what sets you apart from the pack.

2 . Access Funding to Grow your Business.

Let's talk about accessing funding, which can be an uphill battle for us, women entrepreneurs. Shockingly, a recent report by Babson College revealed that less than 3% of companies with venture capital funding had female CEOs. That's a staggering gender gap! But don't lose hope, there are ways to achieve your funding goals. One of the best ways is to find support from other women entrepreneurs who can offer guidance and mentorship, as well as build confidence through a great team and business plan. 

Another solution is to attract more female investors to the table, who can better understand the unique challenges that women face in business. To help navigate these challenges, many co-working spaces offer valuable educational resources on funding your business, specifically tailored for women-owned businesses. Do your research and take advantage of these resources to help grow your business.

3 . Having to Constantly Prove Yourself.

Working in a male-dominated industry where your leadership role may not be acknowledged, it can be tough to believe in yourself when others expect you to constantly prove your worth. But don't worry, you can overcome this. Building your confidence and surrounding yourself with a supportive group of people is key. 

Daily positive affirmations, meditation, and a strong personal support group can help you push past negative self-talk and achieve your goals. 

Additionally, joining women entrepreneur groups can provide valuable mentors and peers who can inspire you and offer outside perspectives and experiences. Don't let anyone hold you back from being the boss you were meant to be!

4 . Owning your Accomplishments.

It can be tough to recognize your success when you feel like you always have to prove yourself. But here's the thing, you are an amazing leader, and you've accomplished so much already. Don't be afraid to acknowledge your worth and take credit for your hard work. It's okay to say "I" instead of "we" when talking about your goals because you are the driving force behind your team's success. So go ahead and celebrate yourself! Take a moment to appreciate all that you've achieved, and remember, you deserve all the credit for your accomplishments.

5 . Balancing Work, Family & Time for Yourself.

Let's talk about balancing work, family, and time for yourself, something that affects a lot of women entrepreneurs out there. 

Whether you're a single mom doing it all on your own or feeling the weight of societal expectations to manage the household and care for loved ones, it's no easy feat. 

But here's the thing, you deserve to take care of yourself too! Setting boundaries and making time for yourself is crucial. Don't be afraid to prioritize what's most important and delegate tasks to others. And let's not forget the power of a support system - finding people you can rely on can make all the difference. So, take a deep breath and remember, you've got this!

6 . Coping with the Fear of Failure.

Ladies, let's talk about the fear of failure. It's a natural part of any business venture, but don't let it hold you back from pursuing your dreams. Take it from Kristi Piehl, founder, and CEO of Media Minefield, who encourages us to push through self-doubt and not wait for perfection before diving into a new venture or taking on a big promotion.

It's important to remember that failure isn't the end-all-be-all. As Jennifer Swartz reminds us, setbacks can be valuable teaching moments. When things don't go as planned, use it as an opportunity to learn and grow. Don't be discouraged by "no's" or costly decisions.

Sure, the road to success may be bumpy and there may be a few detours along the way. But as long as you keep your eye on the prize and stay determined, you can still reach your ultimate destination. So keep going, filter out the negative voices, and take in constructive feedback. Learn from your mistakes and keep pushing forward. 

In conclusion, we all know that being a woman entrepreneur is not easy. We face countless challenges every day, and many of them are due to the flawed system we live in. But don't lose heart! Overcoming these challenges requires a combination of confidence, determination, and support from our fellow female entrepreneurs.

By coming together and advocating for gender equality, we can create a more level playing field in the business world. And let's not forget that many women entrepreneurs still aren't getting the pay and recognition they deserve. It's time for us to rise and show the world what we're made of.

So let's spread the word and support one another. Like and share this article to raise awareness and empower more women to pursue their dreams. Together, we can break down barriers and create a brighter future for all women entrepreneurs.

Source: Uzialko, A. (2023, February 21). Challenges Faced by Women Entrepreneurs and Some of the Most Successful Women to Follow. Business News Daily. https://www.businessnewsdaily.com/5268-women-entrepreneur-challenges.html