The number of women aiming to become successful business owners and leaders of their respective companies is growing each year. And even though these brave and determined businesswomen are an inspiration to many business-savvy women around the world, female entrepreneurs still face a number of difficult obstacles in this male-dominated field.
Here are some of the most common obstacles female business owners still face today, as well as some helpful tips for overcoming them:
In certain business sectors, especially those that tend to be traditionally male-dominated, such as construction, finance and software development, women are at an unfair disadvantage, having a lack of equal opportunities compared to their male counterparts. And when good opportunities do arise, women are generally paid and valued less. What’s more, when it comes to venture-backed businesses, women make up only 10% of leaders, as there is still a wide gap in investment funding for female entrepreneurs due to gender perception issues.
Unfortunately, women won’t be considered equal to men in this aspect until a systematic change in our society occurs. However, female business owners can still achieve success, even in these sectors, with enough willpower, perseverance, and a fight for their rightful place.
Having a good mentor is an essential aspect of professional development, as not only can they offer extensive knowledge and proper support, but they can also help with expanding networks and finding business partners, all of which can be incredibly valuable assets to a female entrepreneur. However, a large percentage of women have never had a mentor, quite possibly due to the lack of exposure of women business owners and executives.
While more platforms need to be created for female leaders, women can still connect with other female entrepreneurs through online forums and groups created for women in business or even local female-based business associations and affinity groups.
Women are known as being good multitaskers, most likely due to higher expectations throughout their lives that forced them to learn how to manage several tasks at once. And even though this type of skill might be particularly useful in a professional setting, it can also hider women’s ability to complete all required tasks in a timely manner.
To combat this common obstacle and do their work more productively, female business owners often decide to pay special attention to organization in the company. For instance, they’ll invest in handy electronic gadgets for their office, such as a quality 10000 mah power bank, that will not only allow them to stay charged and connected throughout the day, but also ensure they’ll be able to multitask more efficiently, and complete all their work on time.
When given a certain target, women have a tendency to overextend their efforts, quite possibly in order to prove to their male counterparts that they have what it takes to achieve success, while remaining professional and in control. Female business owners are often focused only on one final goal – to beat their competition and rise to the top. By the time they achieve their goal, however, they are too exhausted and unmotivated to continue leading.
If a woman is set out to build a successful and thriving business, she simply needs to learn how to delegate. She needs to know where her priorities lie and which aspects aren’t a necessity, and she needs to learn how to manage her time and resources in the most efficient way possible.
Whether it’s due to a low number of female entrepreneurs or simply because failure is a reasonable possibility in any business, the fear of failure is one of the top concerns for many women who want to start their own companies, making it the number one reason why businesswomen choose to give up before they even begin.
The only way to combat this issue is to work through those moments of self-doubt, and work hard at ignoring the negative and discouraging inner voice. At the end of the day, even if you do fail, all you need to do is pick yourself up, start again, and prove your worth.
Although it can be especially difficult for female entrepreneurs to make a name for themselves in the world of business, the challenges they face will ultimately build their character, allowing them to be better, stronger and more successful, while paving the way for new generations of businesswomen who will change the world.