May 2, 2015
Being a successful woman entrepreneur – Do you have it in you?
There are innumerable personality assessments and checklists available that can supposedly assist you in determining whether or not you have what it takes to become a successful businesswoman. They can be thought-provoking, fun and also interesting but even if you have failed the “do you have what it takes” tests that you find online, simply ignore the results and have faith in yourself. Most of such online tests will ask you some of the clichéd questions like “are you a great leader?”, “are you an optimist?”, “are you creative?”, “can you work well within a team?” and all such questions must be immediately disregarded.
Why should all the clichéd questions be applied to the women entrepreneurs?
No human being can be an optimist all the time and it is also true at the same time that being overly optimistic at a time when you should think otherwise can lead to making poor and harmful business decisions. A successful business woman will most often require being a team player but she always doesn’t have to take the lead. Having an open mind is far more vital than being a creative person or a team person. In fact, a more realistic question that you might ask yourself is whether or not you can work with a husband who may challenge each and every business decision that you make? Statistically, it has been seen that very few husband and wife partnerships remain in business together and this happens for obvious reasons.
Steps to achieve success for the women entrepreneurs
After reading various kinds of books on female entrepreneurs and their psychology, it can be deduced that the female businesswomen tend to show more self-doubt than their male counterparts. How should a woman battle this self-doubt and emerge successful? Here are some steps that you can take.
- Have a clear access with experts: If you can have a clear access with experts when you start off your job, you can share their experience of how they’ve run their business and looked for funding options. Through conversations, you may find ways that would otherwise not occur in your mind. In such situations, the right mentors and experts can recognize such issues and help you move on with your company.
- Measure advice against your business goals: You may receive lots of great suggestions but you have to put them into the frame and context in accordance with your business and audience in order to measure the right amount of weight that you have to put on to each advice. Advice from the experts might be great but that doesn’t mean that all of them will be perfect for you at the particular moment.
- Follow your guts: When you start having self-doubt, realize that it is only you who has the best interests of the company in your heart. You have developed the business because you sensed the need in the marketplace. If anyone tries to push you in a direction that you don’t feel is right, don’t move towards it.
- Change direction when something’s not working: No decision can be considered as final and even so when it comes to marketing, it is always right to try out different approaches. Set a time to recognize success which is based on a particular plan and don’t fret while changing directions when things don’t work well.
Tough challenges faced by women entrepreneurs
Since entrepreneurship was once considered as a man’s territory, women still face a lot of challenges as compared to men. Here are some that you should be aware of.
- Women think they need to act like men: Most female business owners who have attended events might have faced this situation. When women entrepreneurs have to talk about business with their male executives, it can sometimes be intimidating. To compensate, they think that they should act like men but this is not always the right approach that women should adopt.
- Women entrepreneurs receive less funding: Although there is SBA or the Small Business Administration that can help men and women alike with business loans, yet there is a problem with private investors. When they see a start-up being owned by a woman, they hesitate to give funding.
- Emotions can affect the business of a woman: Allowing your feminine qualities to stand in the way of achieving things can become a big problem for your business. Women are more emotional and nurturing by nature and this can become a hindrance towards running your business.
If, in spite of being a woman, you don’t want debts to mar the growth of your business and leave you wondering ‘what is the best debt consolidation company’, you should be tough with your financial decisions. Always be in touch with some experts who can constantly guide you through the right path.