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Interview Patty

6 Challenges Women Entrepreneurs Face

Small Business Consulting in Houston

Entrepreneurship was once considered a man's territory, but each year, more and more women set out on the journey to launch and lead their own companies.

These business-savvy ladies inspire other women with dreams of founding startups, but many female business owners face still face significant obstacles because of their gender. Female CEOs shared a few of the biggest challenges women entrepreneurs face today, and how to overcome them.

Women entrepreneurs think they need to act like men. - Most female business owners who have attended networking events can relate to this scenario: You walk into a crowded seminar and can count the number of women there on one hand. When women entrepreneurs have to talk business with primarily male executives, it can be intimidating.

To compensate and protect themselves, women often feel as though they need to adopt a stereotypically "male" attitude toward business: competitive, aggressive and sometimes overly harsh. 

"Be yourself, and have confidence in who you are," Hilary Genga said. "Don't try to be a man. You made it to where you are through hard work and perseverance, but most importantly, you're there. Don't conform yourself to a man's idea of what a leader should look like."

Women-owned startups receive significantly less investor funding. - Venture capitalists tend to invest in startups run by people of their own "tribe" — for instance, a Stanford-educated investor will want to back a Stanford alumnus business. This means that VC firms with female partners are more likely to invest in women-run startups, it's advice, building confidence through a great team and business plan.

Emotions and nurturing skills can affect women's businesses. - Though trying to act like a man doesn't guarantee success for a female entrepreneur, allowing her "feminine" qualities to stand in the way of getting things done isn't necessarily recommended, either. By nature, women are more emotional and nurturing, which can sometimes be a hindrance to running a business.

Women often lack the support of other female business leaders. - Despite the quickly growing number of female executives and business owners, finding fellow women entrepreneurs to connect with isn't always easy. Women-focused networking events are good places to start, as well as online forums and groups specifically created for women in business.

Many women have to balance raising families with running their businesses. - Work-life balance is often a goal of entrepreneurs across the board, but mothers who start businesses have to simultaneously run their families and their companies.

Women entrepreneurs are afraid of failure. - The fear of failure is the top concern of women who launch startups. Failure is a very real possibility in any business venture, but Passi said it shouldn't be viewed as negative.

You need to have massive failure to have massive success, you may need 100 'no's' to get one 'yes,' but that one 'yes' will make you more successful tomorrow than you were today.

Work hard at ignoring that inner voice that may discourage taking action, speaking up or getting outside your comfort zone.

Source: BusinessNewDaily

Patty Block, President and Founder of The Block Group, established her company to advocate for women-owned businesses, helping them position their companies for strategic growth. Charting the course for impactful, sustainable, profitable businesses, the beacon is control: of your strategic direction, your money, your time, your staffing, and your ability to bring in business. The Block Group brings together the people, resources and ideas that build results.

 

Small Business Consulting in Houston.

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