Business was once a man’s world but not anymore. More and more women are embracing the entrepreneurial role and contributing to their families and the general economy. The numbers might seem promising, but it’s hard to paint the true picture of the business world with digits only. The truth is that women in business face many challenges that men might not be required to even consider. Here is what every women entrepreneur can expect to find in her way:
Battling stereotypes
Everyone knows about the stereotype that women are emotional thinkers and that makes them worse than men in business leadership. It’s true that some women have a different train of thought than men (mostly due to their upbringing and their professional and personal experiences) but that certainly isn’t a flaw. When used well, it can be a huge advantage actually. There’s also another stereotype that women struggle with making executive decisions. Again, some women tend to make their decisions harder, but that can sometimes be helpful in business because it prevents haste decisions. Thanks to their careful consideration skills and relationships with colleagues, women can enhance their leadership skills and boost the success of their businesses.
Being constantly surrounded by men
Most female entrepreneurs and leaders spend their days surrounded by men. In many business meetings, you can expect to be the only woman present. This realization can be very stressful and overwhelming. According to research, people who are “onlies” in a company (such as the only woman, only POC, only LGBTQ person, the only foreigner, only parent, etc.) need to face more discrimination, especially if they choose to stand out. Many women can’t handle the pressure and decide to back down, but with exposure to stress, it’s possible to build a thick skin and freely push against discrimination.
Struggling with low self-esteem
After watching men succeed and leave women at home, it’s hard to build strong business self-esteem for girl bosses. Many women in business struggle with finding their voice, realizing their values and separating their emotions from business. With practice and some outside encouragement through preparation, practice and clothes, it’s easy to gain a lot of confidence. And after you kill it in the meeting, don’t forget to treat yourself to a stylish cowhide handbag that will make you feel even more powerful. Even little things can make a big difference when it comes to aesthetics and confidence.
No opportunities to build a strong network
One of the main secrets to professional growth is having good mentors and advisors to guide you on your way. Why? Well, in business, it’s important to know staff, but it’s also important to know people. According to research, women entrepreneurs find it very hard to make business connections in fields dominated by men. However, women entrepreneurs still have opportunities to meet new people, collaborate on projects and build a wide web of contacts.
Harder to balance professional and private life
Here’s a tough question to both ask and digest: Can women have both a family and a business to run? The truth is that balancing personal and professional life is hard for both men and women, yet men never get asked the aforementioned question. Instead of focusing on work-life balance, women leaders can focus on work-life blend that can make the challenge of juggling work and family a little bit easier. Running a business indeed takes a lot of time and energy, but being your own boss leaves you space for flexibility and more control over your schedule, meetings, business trips, etc.
Lack of funding
Probably the biggest issue and the most unfair one that women entrepreneurs face in the business world is lack of funding. According to Harvard, from the entire venture capital fund, women receive less than 3%. Sure, there are much fewer women in business than men, but women funders and entrepreneurs are less likely to receive funding and attract investors. To find a way out of this issue, it’s best to engage in education and seek support from networks dedicated to women entrepreneurs and their businesses. Do some research on your country’s organizations like Female Founders Alliance or Astia and sign up for coaching workshops that can help you learn all about entrepreneurism and the fundraising process.
Yes, it’s possible for women to be successful business leaders and be mothers, wives and daughters. It’s important to be confident and ready to face discrimination armed with education and great ideas.
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