Female entrepreneurs have long been underrepresented, but that pattern is changing. According to the 2019 census, the number of women entrepreneurs in the US has risen over 40 percent since 2016, making up 36 percent of all firms.
According to the Global Entrepreneurship Monitor (GEM), which tracks 40 economies from around the world, entrepreneurship rates among women globally rose by 13 percent versus 5 percent for men.
In addition, it has been projected that global GDP could increase by $28 trillion by 2025 if there was more gender diversity in entrepreneurship and women started businesses at the same rate as men.
The gender gap amongst entrepreneurs is even greater than that of role models for aspiring female entrepreneurs. The opportunity to access a female role model with private experience is a major challenge in a business world dominated by males.
1. Succesful Female Entrepreneurs Live Outside their Comfort Zone
Outside of your comfort zone, you have to pass. Resumes that contain mistakes are excellent evidence that during your journey you have taken the requisite risks. Females are often more influenced by failure and let it impact their faith. Don’t make that. Failure is an unavoidable element of success, from which we learn.
2. Established Female Entrepreneurs Love Feedback
To validate your business, feedback is crucial. Competitive analysis will help you to understand what clients want, as well. You would need to go beyond studying the websites of your rival. Read feedback, locate posts and interview their customers about them. Pay careful attention to adverse feedback and ask individuals directly what they expect from your competition to get out of the product or service they are using.
Doing this in-depth study will help you assess where the strengths and weaknesses of your competition are. You should manipulate them once you discover their vulnerabilities by ensuring that your product or service fills that void for customers.
If you are in a company that makes a product, then it can be a perfect way to easily validate the concept with crowdfunding. Even though there are many platforms for crowdfunding, iFundWomen is a new forum for entrepreneurs and small businesses led by women and provides free coaching for crowdfunding.
3. Keep learning
Awareness is the key to growth, creativity and success. An ardent learner is any successful entrepreneur I have met. In reality, up to 60 books a year are read by the average CEO. Try audio books, online courses, masterminds, and/or continuing education classes at a nearby university if you do not like reading.
By picking out the best business and leadership books and delivering summaries and webinars on each book, Mentorbox is a great resource that supports busy entrepreneurs so that you can consume the data in the way that suits your learning style.
Want to read more tips for Female entrepreneurs: Women Entrepreneurs 101- Killer Tips for Female Entrepreneurs
4. Become an expert
The market has changed, but authenticity and experience are still respected by people. Via chatting, public relations and/or even blogging, you can showcase your expertise. In order to make a wish list of places that range from TV to YouTube and podcasts, you want to be as visible as possible. Another excellent way of gaining visibility is guest blogging.
5. Ask for what you need
You will come across resources that you need, from capital to expertise, as you navigate through your business. At – level, find out what you need and ask everyone. The most unexpected individuals are also the ones who can give you the insight you are looking for. Ask people you know in person, ask in groups on Facebook and LinkedIn, and ask for your private network.
6. Minimizing people who are negative
You are going to face a lot of doubters and people who do not get your vision or appreciate it. Try to stop these individuals or at least any conversation at work with individuals who do not allow you to move forward.
7. It’s all about Network
You can not do it alone if you want to create a large and profitable company. As it is your job, you need to get over your fear of rejection and network. The amount of cooperation and relationships that a large but close network can gain is invaluable.
8. Have Wonderful plans
Female entrepreneurs sometimes underestimate their own potential and don’t have enough dreams. The inner reason behind your company is crucial to tap into and really think about the legacy you want to leave behind.
By learning from the achievements and mistakes of others, female entrepreneurs will shorten the road to success. To make sure you do not get lost in your own head or the sheer amount of data on the web, it is important to have both mentorship and accountability.
10. Be assertive
Believe that you can do it and you are there most of the way. Entrepreneurship does not follow any projection of ‘hockey stick-like’ and at best looks more like a staircase. Maintaining faith and believing that the rough path is worth it is key because the world needs your impact.
Women who start companies are generally companies that help make the world a better place. We will see an ambitious business environment that is diverse, inclusive, and looking to change the world once we empower women with the correct resources and knowledge.
11.Empower those who are around you
Women entrepreneurs can attract the best of the best – the best staff, the best mentors, the best consumers, etc. by not always needing credit, by creating an incentive for others – by inspiring others – Listen, be supportive, be motivating – be empowering in your efforts as an entrepreneur.