When I started my own business six years ago, I didn't know I was joining such an amazing group of women. Just so we're on the same page here, when it comes to leadership, females only make up 17%.
Check out the list below of some of the challenges that women face being a business owner.
Accessing funding:
The old saying, it takes money to make money. Funding is the same way. The only women that can get approved for business loans have to have excellent credit. Another concern for banks is the lack of collateral. Allowing funding for women is considered to be risky.
As a result, you can see many tech startups created by male entrepreneurs and not women as lenders think it would be too risky to approve women business owners for business funding.
Not being taken seriously:
Women are commonly misunderstood when it comes to starting a business. They are mistaken for starting the business for fun, running it out of their home, or to supplement their family's income.
This is something I faced starting my business and I still hear from time to time. Even though I am the main breadwinner of the family since my husband became disabled, I am still questioned about my business.
Building a support network:
A support network for women in business comes from everywhere; Family, friends, and other businesses. It's so important to keep your circle full of positive enforcement. There are support groups for working women to help us find like-minded people that are building their own empire.
Balancing life and family:
Balancing life and family is tricky. Even after six years, I still have trouble with it. Just like many other people, my work comes with me where I am. I have worked from the time the kids got on the bus at 6:40 am until past midnight to meet deadlines.
I feel like it's something that is hard for the family to recognize. I run an online business so I can work remotely from anywhere. I am not scrolling social media for memes and recipes, I am working on engagement, promoting the brands I work with, writing, and editing. Even though I am doing all of that, I have to stop a million times a day to handle household tasks. It is a very hard balancing routine but, determination is the key.
Coping with fear of failure:
I can relate to this one more than the others. My business is me. There are no backups or days off that someone else can do my job. There is nothing that will pay me for my downtime or reassure
If I can't do it, it doesn't get done. There is no sick days or paid compensation. Either I work or I don't, if I don't, I get behind and have to play catch up when I come back to work.
It's an everyday concern over whether or not I will stay successful. I run this amazing website. I work with brands and companies that I would have never thought possible before I started.
Coping with fear of failure:
I can relate to this one more than the others. My business is me. There are no backups or days off that someone else can do my job. There is nothing that will pay me for my downtime or reassure
If I can't do it, it doesn't get done. There is no sick days or paid compensation. Either I work or I don't, if I don't, I get behind and have to play catch up when I come back to work.
It's an everyday concern over whether or not I will stay successful. I run this amazing website. I work with brands and companies that I would have never thought possible before I started.
There are a lot of factors in being a successful businesswoman. You can do it! Make yourself proud Make your family proud! Be the person you have always wanted to be!
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