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Woo Hoo for Women in business!!!
Here are a few interesting stats about Women Entrepreneurs in 2019 that you may not have known:
· The US has 12.3 million women-owned businesses. ...
· Women-owned businesses in the US generate $1.8 Trillion/year. ...
· 40% of US businesses are women-owned. ...
· Women started 1,821 net new businesses every day last year.
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I am excited to be counted among the list of Women Entrepreneurs and as the recently crowned Mrs. Elite U.S. Woman of Achievement, I am so honored to represent the achievements of women on this national platform.
However, we still have a long way to go ladies. Heather Havenwoon, Ms. Texas Woman of Achievement and I had this conversation over the weekend because there are still things that hold us back in business and here are 4 of them we constantly have to overcome.
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1. No Bro club for Women:
Boys are taught to play on teams together and collaborate for the greater good even if they do not like one another. Women for the most part need to learn how to collaborate more. We can rise the tide when we all find more ways to work together, even if we are in the same industry or have similar titles.
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2. The Imposter Syndrome:
That feeling that you don’t belong or you are not enough has plagued even the most gifted and talented among us. Many of us have to overcome our own lack of confidence and delete the self-talk in our minds telling us we don’t belong or soon the other shoe will drop and we will be found out to be a fraud. Instead we need to understand we are skilled enough to get the job done. Stop fearing failure – Action conquers fear!
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3. Funding Inequality: Statistically more Women fund their businesses using credit cards vs Men who seek and get equity or VC funding mainly because women do not know how to play the game or rather haven’t changed the rules of the game to benefit them. The challenge is, women provide more realistic conservative numbers when seeking funding and men over inflate the numbers. So if men are lending they will assume women are also overinflating the numbers and therefore reduce their ask and the venture isn’t as attractive. Recently Apple card & Goldman Sachs proved that there is a huge disparity in how women are being funded.
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4. Balancing Act –
Women define success differently than men. Therefore being able to have a career, family and make a difference are sometimes more important than just money. The result is that more women are starting their own business so they can balance work and family life. But it is not the easiest road to travel and we still have to make huge sacrifices to make it work which can sometimes mean less financial success of men and a more overall balanced life.
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Hope this was valuable to you, let me know some of the challenges you face as a female entrepreneur and how I can support you or collaborate to find a solution! Cheers! Much love
AliciaMrs. Elite U.S. Woman of Achievement!
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