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Women Mean Business

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Women Mean Business

Entrepreneurship is on the rise, a 2015 survey conducted by the National Association of Business Owners in the US reported that 9 million firms are owned by women in the US and are generating over $1.5 trillion in sales. 

More and more women are embracing entrepreneurship and in a world dominated by men, it’s a lot more difficult for them to rise up above the majority. To better help you understand some of the challenges that women face in business we’d like to highlight them and help you jump over the hurdles.

 1 Defying Social Expectations

Ever walked into a crowded business seminar and counted the number of women in the room? Chances are, you’re not going to be seeing a lot of them. Talking about business with a male business counterpart can be a challenge. A lot of the times, women choose to adopt a male attitude towards business – they’re competitive, aggressive and sometimes harsh. But most successful female CEOs insist that remaining true to yourself is the key to rising above expectations.

2. Limited Access to Funding

The truth is, less than 3% of venture capitalist firms have female CEOs. That figure says a lot. Overcoming this issue is simple, women entrepreneurs need to start helping each other and letting more investors reach out to them. And sometimes, investors are only looking for businesses that will make them win, big.

3. Owning Your Accomplishments

The communal, consensus-building qualities encouraged in young girls can leave women unintentionally downplaying their own worth. Molly MacDonald, founder and CEO of The Mobile Locker Co., a startup that provides personal storage for events, said she has always found it difficult to convey her own worth as a leader.

"When I talk about the company … I always find myself saying 'we' instead of 'I,'" MacDonald said. "I know I have fallen into this pattern for two reasons: Using the first person to discuss successes feels to me as if I'm bragging, and I cannot shake the idea that if someone knows it's just me in control, the value of what we do will go down. As I grow the business, I am making an effort to own what I've accomplished."

4. Building a Support Network

If you’re a woman in business then you know how hard it is to get the backup and support that you need. But that doesn’t mean you can’t get it. Knowing where to find the right support network isn't always easy. A few good places to start include women-focused networking events — such as conferences and seminars.

5. Balance

No matter what, you’ve got to learn how to maintain a work-life balance. If you’re a mother who’s started a business, it’s important to spend time with your family and this can be a challenge when you’re running around. There are always ways to balance your time – don’t ever think that being successful means not spending time with or having children. "Mompreneurs" have dual responsibilities to their businesses and to their families, and finding ways to devote time to both is key to truly achieving that elusive work-life balance.

6. Coping with the Fear of Failure

According to Babson College's 2012 Global Entrepreneur Monitor, the fear of failure is the top concern of women who launch startups. Failure is a very real possibility in any business venture, but Delia Passi, CEO of WomenCertified and founder of the Women's Choice Award, said it shouldn't be viewed as a negative.

"You need to have massive failure to have massive success," Passi said. "You may need 100 'noes' to get one 'yes,' but that one 'yes' will make you more successful tomorrow than you were today." 

 

SOURCE: http://www.businessnewsdaily.com/5268-women-entrepreneur-challenges.html