With a quest to forego male domination and the wage gap in workplaces, women are now entering the world of entrepreneurship and leadership with their strong business acumen
Rising above gender disparity in workplaces has been an evident struggle to overcome, but the last two decades have proved that women are not only steadfast, but determined to accomplish what they set their minds up against.
There has been a 114% increase in women leading the workplace with their tactical leadership skills, creativity, and aspiration. In 2018, approximately 11 million businesses in the US were owned by women alone, with the number threatening to surpass male-dominated enterprises along with the national average as well.
Mogul founder and CEO, Tiffany Pham, has given women a platform to come together, discuss, share, and emerge as an individual. If gender parity continues to thrive, especially in the world of entrepreneurship and leadership, then by 2025, women-led businesses might challenge that of men with an estimated GDP of $28 trillion.
With more and more women entering the world of entrepreneurship with their determination and true grit, striving past gender disparity, male domination, finances, and restrictions has been an arduous struggle.
In order to inspire budding female entrepreneurs, we have mentioned 7 tips that might help women in the business arena.
1. Start Prioritizing From Today
Your top priority should be achieving the satisfaction of your consumers. Oprah Winfrey, philanthropist, and business mogul, known for ‘The Oprah Winfrey Show’, is one of the world’s most avidly known personalities today.
Oprah Winfrey has not only served as a role model for women of colour, but also for female entrepreneurs by believing in her one true motto of helping and understanding those in need. The Oprah Winfrey Show enjoyed a screen time of around 25 years, with over 37,000 interviews with people from all over the world.
According to Winfrey, she not only wanted to serve her audience, but also wanted to serve as an inspirational role model through her compassion, activism, and perseverance. She encouraged people to strive for hope, just as she did. Oprah not only made her show - her business venture - a priority in her life, but also her audience, who served as true motivation for her determination and grit.
2. Stay Confident At All Times
Do you have what it takes to be an entrepreneur? The world of entrepreneurship opens a myriad of opportunities, ideas, and opinions that might be similar yet slightly different from others.
At times, you feel undermined by the level of competition in your niche industry. This decreases your confidence and diminishes your curiosity, hope, and ambition for moving ahead.
Spanx, a pantyhose company, was founded by 27-year old Sara Blakely at a time when she only had $5,000 in her pocket for funding, patenting, developing, and marketing her business. The idea struck her when she realized the need of a new undergarment - the pantyhose - for women like her, who’d prefer wearing the pair under their clothes for creating a flattering and an effortless look.
The idea resonated with her strongly that she - despite the lack of funds - strived to build a company with the help of other professionals.
Her confidence, determination, and commitment to her ideology and vision not only helped Spanx claim a name of virtue amongst leading businesses today, but also helped Sara believe in her ingenuity, struggle, and most importantly, herself.
3. Don’t Let the Fear of Failure Upset You
Failure is at times, considered a poignant breakthrough – it can at times diminish your attributes or encourage you to look ahead by keeping your past behind. Yet, entrepreneurs today, encourage women to believe in their instincts to surpass challenges and failures in their business.
Don’t let your education or degree define you. Let your aspirations and dreams run wild. According to Sara Blakely, the idea for Spanx resonated with her for two entire years until she finally had the courage to show up as a budding entrepreneur with a product that would go on to make her one of the youngest celebrated entrepreneurs of the world.
4. Get Hold of Your Passion
The main reason why you’re busy entitling yourself as an entrepreneur is primarily because you wish to cater to a spark that not only ignites your passion, but also your ambition towards achieving greatness with success.
According to the founder and CEO of Nasty Gal, Sophia Amoruso, getting ahold of your passion is not only important for striving towards success, but also for creating an empire from scratch. From stringing herself with various uninspiring, short-lived jobs to establishing her $280 million online enterprise, Amoruso redefined online retail in her own unique style.
Define your goals in order to align your success with your aspirations. If you believe that your idea has merit, it can help you achieve the stairway of success even if you have a dime to your name. There are plenty of independent investors who fund Small Business Loans for Women, primarily because they believe that every dream starts with a robust idea, allowing it to grasp the power for achieving greatness.
Fueled by mindfulness and true passion, your vision can help create a business that you’ve always strived for and would love to be a part of. There is no point in pursuing the niche that doesn’t encourage you to work hard, or cross the paths of failures.
5. Every Adversity Is an Opportunity
Understand what’s better for running your business towards success. In order to move ahead of your status quo, you have to believe that your idea is not only exemplary, but also important as the rest in the industry. You have to believe that none of your failures will undermine your struggle towards the achievement of your dreams
According to the Executive Vice President of Callidus Software, Roxanne Oulman, true craftsmen exhibit their passion for achieving success in business by the form and motive taken for handling adversity at all times.
One time or the other, adversity hits you like a falling star from the sky. It is your unduly job to take that falling star and mold it into something constructive, like lightning.
6. Eliminate Organizational Barriers
As an entrepreneur, it is important for you to rise against the cultural norms by eliminating organizational barriers and probing into the technical side of your career. Today, women are met by hurdles that prevent them from proving their worth.
From the highest position of CEO to the level or an intern, your job as an entrepreneur is to bridge the gap created by gender disparity and male domination to create a more inclusive environment for women, and for yourself.
Bucking the cultural norm is not only important to empower those worthy of recognition, but also for the achievement of success and emergence in any field.
If you’re just starting out, then look into your career and understand the complexities of it. If you’re into web development, try learning about coding and web languages from the experts. Try to elevate yourself and your team by mentoring those in need, so that you can emerge as a collective and prove every naysayer wrong.
7. Managerial Diplomacy
Women are known for their emotional intelligence and increasing level of disparity and diplomacy amongst personal and professional relationships. They are prime specimens for exhibiting managerial qualities and attributes, allowing them to take care of each situation with better social and emotional understanding.
This allows women to tame every situation in the workplace environment - whether it requires a more firm hand or a flexible touch, women are exemplary role models for exhibiting qualitative managerial diplomacy.
Tap into your social and emotional intelligence and learn how to handle and manage your relationships at work. Multitask when needed. Whether it is an email you need to send or attend a boring conference that requires your presence, you - a budding female entrepreneur - can handle any situation once you put your heart and soul into it.