8 Steps to Success for Women Entrepreneurs
What makes a woman a successful entrepreneur? What differentiates her from a struggling business owner? And what traps does she need to overcome – traps that are often specifically related to her gender? Is there something she is doing wrong?
Step One: Money is good – talk about it, borrow it, control it, embrace it.
Nice girls don’t talk about money. Nor do nice businesswomen. Most women will say they hate to talk about money, and most agree that most men are far more at ease talking about money than women. This seriously impacts the business. It can mean the focus is not on the bottom line nor on revenue.
Step Two: Find time and brain space to get digital
The digital economy increases opportunities for women. Successful women embrace new technology, work remotely and combine families with business. A high proportion of successful female entrepreneurs love their gadgets and are quick to update, knowing that new technology saves them time and gives them the flexibility and independence they crave.
Step Three: Fight discrimination and bullying
Women face a range of cultural barriers that do not exist for most men. Successful women entrepreneurs deal with this. They don’t pretend it doesn’t exist. What they don’t do is ignore bad behavior from men. As for direct gender-based discrimination, they confront it head on. Many women suffer direct gender-based discrimination when setting up their business, and they take action.
Step Five: Make the baby part of the business plan
Successful female entrepreneurs take a very strategic approach to having their families. Long-term planning is the key. Successful women entrepreneurs say the best time to have a baby is when the business is between six and ten years old and when the woman is in her 30s.
Step Six: Don’t feel guilty
Society still has high expectations that women are the primary caretakers of children. The most successful female entrepreneurs are ruthless time managers and are determined to run their own guilt-free race. Don’t listen to others. Do what feels right for you without guilt.
Step Seven: Pick businesses in high growth industries
Female entrepreneurs tend to lean towards industries that have less financial barriers, less sexism and are less technologically oriented than men.
Step Eight: Join the right networks
Women are great communicators and have extensive networks but are they the right networks? Successful female entrepreneurs rely on mentors, accountants and business people. Very few use industry groups, consultants, business coaches or government bodies. Women entrepreneurs need to monitor the resources they devote to networking so the benefits they receive exceed the costs.
Robin,
You've presented some excellent points here! Networking is key when it comes to expanding your small business, it's all about exposure! Planning ahead (even for kids) is crucial as well, and you've really touched on just about everything else. This is great advice for any starting entrepreneur, and a wonderful read! Thanks so much for posting!
Now, I'm an official Microsoft ambassador and right now we're really trying to scale up our connections with influential bloggers like yourself. I'd love to share with you some of the stuff we've been doing in the last couple months to help women entrepreneurs; we're really committed to providing all the necessary resources to help women start, grow and expand their business.
We just wrapped up a women's entrepreneurial tour across the US called “Vision To Venture;” the response and turn-out was great!
I'd really love your take on these offerings we have right now; I would have contacted you via email but I didn't know which was the best way to reach you.
Thank you so much, I hope I didn't overstep my bounds by directly contacting you. Definitely get back to me if I’ve piqued your interest-- I’d love to share more info with you.
Best,
Kimberly
Official Microsoft Ambassador
k-rosenberg@live.com
Posted by: Kimberly Rosenberg | June 06, 2008 at 03:52 PM