It’s clear that women have come a long way in the entrepreneurial world, year after year more women succeeded to build successful businesses that worth millions. In USA, 37% of businesses are accounted by women entrepreneurs who considered as the fastest growing segment of the small business community.
But still, there are many business challenges and few major obstacles against today’s women entrepreneurs. Here I’ve highlighted the various challenges women entrepreneurs face when starting a business and how to overcome them.
1. Emotional Connection
Women are more emotional than men, they related to their business and run it in a more personal way than men which make it difficult for them to make tough decisions. Woman get emotionally connected, and that can hold her back from making the tough decisions. Woman gets emotionally connected, and that can hold her back from making the tough decisions. Women entrepreneurs are not as fast as male entrepreneurs to make hard business decisions that can impact the life of employees or partners because they get more connected with everyone inside their business which may consider as the second home for them.
The fear of failure is the top concern of women who started a business. By nature, women have more fear of failure than men not only in business but in life in general. But you need to know that the facing some failures in business is a possibility you may face and it’s a change to later success. You need to believe in yourself, work hard and don’t self-doubt yourself over and over.
3. Work/ life Balance
It’s very challenging to combine motherhood and business, both required full energy, full attention and full-time. But, don’t take me wrong, many moms established very successful businesses and have wonderful families too. It’s a matter of planning and arranging priorities. You need to learn about how a balance between your passion of your business and your family.
4. Funding Gap
The funding raising is still a big challenge for women entrepreneurs. It’s because women are more risk averse and they always took more calculated risks than blind leaps of faith. Asking for money is a touchy subject that never feels comfortable. Women could also fear that committing to fund cycles will take time away from family. However, every entrepreneur needs capital to sustain a business. As a woman entrepreneur, don’t let these to start statistics deter you from actively seeking funding.
5. The importance of connections and advisers
One of the biggest challenges for a women entrepreneur is understanding the importance of having real connections and trusted advisors who can help her to obtain the success of her business. Build strong network that will provide you with recommendations and introduced you to real client. Also, Don’t be the smartest one in the room and listen to your advisors.
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