This article shows data to support what isn’t surprising: The good ole US of A is the FRIENDLIEST country for women entrepreneurs. It further details that female entrepreneurship is on the rise and that women represent around 1/3 of all the self-employed people in the world. CLICK HERE FOR THE ARTICLE.
GO TEAM WOMAN! But it further details that there are (still) challenges facing women entrepreneurs… Of course, there are challenges facing ALL entrepreneurs, but this article specifically sites FUNDING and FORMALITY as challenges that lead to LESS INCOME for female entrepreneurs.
They mention that only 3% of female owned businesses have received venture capital. They state this as a BAD thing… and while I acknowledge that bootstrapping a business CAN present challenges, it also DEMANDS that your business start selling, EARLY. It demands that even your newbie, fledgling little business EARN ITS KEEP through sales. So, if you WANT venture capital, get it. If 3% can, YOU can.
But question whether you really NEED it or not.
Sometimes an infusion of cash delays you REQUIRING your business to perform… you know, as a business. And sometimes, giving up ownership by taking on partners can create a mess, muddy your vision and dilute your passion. So, fair warning there.
The article also mentions that women owned businesses are LESS FORMAL than our testosterone -heavy counterparts. This is because — of course — we PREFER informal. Many women entrepreneurs WANT to work from home, without a slew of employees and set hours. I am ONE of these women… but that should NOT (and DOES NOT) have to mean slow or less impressive growth.
If you WANT wild success, but DONT want to create another “corporate machine,” consider finding women who are making 6- and 7- figures a year who are doing it ENTIRELY location free. Look to them (to me) for inspiration that it IS possible, to create WILD success ON YOUR OWN TERMS, without compromise.
Either way, it’s a great read. Now let’s get to work breaking the stats that say only 5% of women in business even earn $100K per year.
