Women are making waves in the world of entrepreneurship and aren’t slowing down anytime soon. According to the National Association of Women Business Owners, there were 11.6 million women-owned businesses as of 2017.
Even with the millions of women-owned businesses out there, there are plenty of things that females entrepreneurs have in common especially when it comes to challenges in business.
If you’re a female entrepreneur, here’s how to overcome the most common struggles you may encounter throughout your experience with entrepreneurship.
It’s safe to say we’ve all struggled with confidence at some point in our lives, whether in the workplace or in social situations. When you have a business of your own, having confidence is a common challenge, especially for women. Women are naturally less sure of themselves than men. For example, when applying for a job, men will apply if they meet at least 60% of the qualifications whereas women will are more likely to apply only if they meet 100% of the qualifications.
As a female entrepreneur, being confident in your business and yourself will prove to be a valuable attribute that can lead to many opportunities. An easy way to remain confident is to keep your purpose and mission in mind at all times. This will help you clearly communicate your business to anyone you speak to. With a refined message and a clear vision of what you’ve done and what you can do, you will instantly feel more confident going forward with your business no matter what kind of situation you’re in.
Money is never a comfortable topic to talk about, but it’s a necessary conversation to have when you run your own business. This is especially important for all of the solopreneurs out there. When you’re freelancing or offering services of any kind, it’s important to have a rate and stick to it.
Oftentimes, women may be offered a lower rate from prospective clients simply for the fact that they’re female. In this situation, it’s important to remember that you’ve based your rate on the value you provide and you should only work with people who see that value and are willing to invest in it. As they say — know your worth, then add tax!
When it comes to business, society has typically made women feel inferior to men. Because of this, women feel the need to prove themselves more which usually leads to doing too much. While being able to wear many hats is a necessary skill to have as a business owner, overextending yourself can lead to burn out, more stress, and ultimately less fulfilling work.
Save your time and energy by taking a break, saying no when opportunities aren’t right, and outsourcing tasks that aren’t your strong suite.
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