Slowly overcoming gender based prejudices, women entrepreneurs are conquering the world with strong management skills and unshaken confidence, taking various industries by storm. While this is the start, we need thousands more female entrepreneur to be near close to the number of male entrepreneurs. Women entrepreneurs face various problems, following are a few common issues that need to be dealt with.
Competition
With the fierce competition between upcoming and established businesses, female entrepreneurs might have to struggle more to achieve success in a male dominated start-up industry. While many start-ups compete at various levels like financial aid, marketing & promotions substantially slowing the process making multiple contenders opt out of the entrepreneurial journey, start-up incubators or accelerators can provide aid through presales, sales channels & investor programs.
Focus on your goals and aggressively chase them, muster positivity and stay dedicated to your process.
Lack of relevant knowledge
One of the most common causes of slow growth among female entrepreneurs and businesses is having a thorough knowledge of your industry and market. It will not only take you a long way but also keep your business stronger than ever.
Awareness about technological disruptions, rising or falling markets and industry trends will help a lot with the start-up process. Lack of relevant knowledge and adequate exposure to business can be overcome through networking, reading and staying well versed in the current market trends through the media.
Personal – professional life balance
Maintaining a work life balance might sometimes be difficult for women, specially married women with children as they have added responsibilities. Devoting equal amount of time to the start-up and managing everything can be overwhelming. However, this becomes fairly simple with external help like that of incubators and accelerators.
Focus on your goal, create short term goals and take out time from your tight schedule to achieve these goals. This will help you to stay dedicated to the start-up and help achieve success.
Male dominated industry
While women have started making news with managing brilliant businesses solely, many lack dedication and vigour to complete the journey with or without help. Investors, sales and financial aid comes very easily to male entrepreneurs globally. The key is to be confident, assertive and a master of your work and idea. Staying positive and networking will help you stay ahead in the game.
Lower risk taking ability
One of the high ranking problems among women entrepreneurs, females are low-risk takers and prefer everything to be in control. Many leading sheltered lives may sometimes not be financially independent to take decisions or not confident enough. Also, the fear of failures, judgement & seeking validation might be other reasons female entrepreneurs rarely take risks.
However, we have seen a stark difference in this behaviour, women are changing with adequate support managing businesses and taking risks at various stages.
Support network
A professional network, an effective team or mentors must guide you through your entrepreneurial journey making the overall process easier and help you build stronger connections. Attending networking entrepreneurial events across various industries, participating in forums or simply LinkedIn can prove to be highly advantageous.
Validation and confirmation
Realize you are enough and stay confident about the entire start-up process. Stop seeking constant validation or replicating someone else’s personality or business. Every business is unique and will take you further when you stay true, dedicated and disciplined to your idea.
With external help like start-up accelerators and incubators, start-up journeys are easier and fail-proof. With correct guidance and strategies, achieve entrepreneurial success.