5 Ways Women Entrepreneurs Can Overcome the Funding Gap
Business Consulting for Women Entrepreneurs in Houston
Here are five tips for getting the funding you need to succeed:
1. Broaden your funding horizons. - Raising capital doesn’t always have to be in the form of venture capital or equity financing. There are many wonderful options out there, including bank loans, crowdfunding, lines of credit and Small Business Administration loans. Educate yourself on the variety of available funding sources to find out which one suits your needs best.
2. Network with others. - Entrepreneurs who build a strong network have a greater amount of resources and insight into funding opportunities. There are many women networking organizations, such as Elevate, that support business growth, provide financial advice and offer mentorship opportunities. Make a concerted effort to connect with powerful businesswomen, and if you’re in a position to mentor somebody else, step up and do it.
3. Get involved. - You can (and should) be an advocate for the change you want to see in the business landscape. As you search for funding opportunities, support other women and any initiatives that advocate women in business.
4. Seek corporate and government support. - Don’t let large corporations intimidate you. Big-name players, such as American Express, are now creating support programs for women entrepreneurs by providing useful content, forums and even boot camps. The government also sets aside contracts and funds for minority-owned, veteran-owned and women-owned businesses. There are countless opportunities: You just need to take the plunge.
5. Don’t hold yourself back. - Women leaders often get in their own way by underestimating their abilities and goals. Being cautious can pay off in some areas of business, but when it comes to raising capital, you need to approach funding sources with a winning attitude.
Source: Entrepreneur
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.
Business Consulting for Women Entrepreneurs in Houston.
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