Female entrepreneurship is on the rise, which is great news if you’re a woman planning on growing a business. Having other women in your network can help you reach your goals more efficiently.
That said, it’s still important to create a plan for success when you launch a new venture. According to Funding Circle, it’s important for all entrepreneurs to obtain funding, including female business owners. You’re more likely to thrive if you take the time to develop a personal strategy for overcoming obstacles, which includes financial planning.
These following points will help. Whether you’re a serial entrepreneur working on your next project, or simply a mom starting a new business for the first time, be sure to keep them in mind.
Adopt a Growth Mindset
Your mindset can make or break your business. This is important to remember when starting one.
After all, odds are good you don’t have all the talents and knowledge, or even the funds to make your business an overnight success. Your growth may be slow during its initial stages.
This causes some entrepreneurs to abandon their plans. Once they begin to encounter challenges, they assume they’ll never be able to reach the heights of success they once aimed for.
Don’t fall prey to this attitude. It’s much smarter to adopt a growth mindset. Popularized by Dr. Carol Dweck, this involves believing you are capable of learning and developing the skills you may currently lack. It’s been shown that people (and entire businesses) who adapt this mindset are more likely to succeed than those who continue to believe their skills are permanently limited.
For instance, maybe you lack marketing prowess. This makes it difficult to find clients when launching a business, so instead of convincing yourself you’ll never be able to do anything about it, take advantage of the available resources (books, online courses, mentors, etc.) to build your marketing skills.
Society often encourages women to be modest from the time they are just children. While men are allowed to take pride in their accomplishments, women are made to feel that doing so is “wrong” in many cases.
This can prevent women from reaching the same degree of professional success as equally (or less) qualified men. Be aware of this problem when growing your business. Don’t let yourself believe there is something wrong with being proud of what you are doing. Running a business is hard work, and you’ll feel much more comfortable pursuing major goals if you allow yourself to feel good about doing so.
It’s no secret that female entrepreneurs face many challenges their male counterparts don’t face. This isn’t fair, and needs to be addressed.
That doesn’t mean those challenges should give you an excuse to not try. By taking full responsibility for the success of your business, you’ll be more inclined to take action, instead of letting roadblocks convince you to give up.
Think of yourself as a role model for other female entrepreneurs. What kind of example do you want to set? Do you want to be someone who lets challenges stop them, or do you want to be someone who proves challenges can be overcome?
Growing a business as a woman isn’t solely about making money. It’s also about proving female entrepreneurs can contribute just as much to their industries as male business owners. These points will help you remember that.