This lesson will introduce you to how you can become a successful female founder! Yes, women are born entrepreneurs and the founder of the online academy, Val Racheeva, will go through some interesting facts about female entrepreneurs and the which factors can influence your entrepreneurial success.
Transcript
Women are born entrepreneurs. And it is not only that women have natural emotional intelligence, creativity & communication skills. About these qualities, we hear a lot. But in fact, numbers confirm this.
For example, did you know that female-owned businesses achieve HIGHER REVENUES? Although women-owned businesses are underfinanced, they achieve 9% higher revenues than businesses overall. Revenues of women “millennipreneurs” are 22% higher than the average according to BNP Paribas Report.
Secondly. Female Owned businesses have LOWER RATE OF FAILURE. Yes, you heard this!
Although more women who are potentially interested to start a business hold themselves back because of that fear of failure and because of their self-perception that they might not be good enough. They fail less and consistently out-survive male-owned businesses. Female owned businesses are also very resistant to economic crises. Start-ups with 5 female executives fail 11% less according to Dow Jones report.
Thirdly, Women entrepreneurs are INNOVATIVE. Women have a 5% greater likelihood of innovativeness compared to men, according to the research of Global Entrepreneurship Monitor.
You see women are amazing entrepreneurs! We are born to be entrepreneurs. And it’s not surprising why more & more women are grabbing the chance to step up into being more powerful. In fact, the gender wage gap inspires more women to create their own paycheck & start their own businesses.
Entrepreneurship has a lot of advantages.
You can work flexible hours & organize your schedule around your needs. Especially for women with kids, it is an important factor.
You can work on something fulfilling, something you have the passion for. So not a single day will feel like work anymore.
You can learn a lot, and especially you can learn a lot about yourself. Discovering who you really are is the greatest gift of entrepreneurship.
Of course, I want to stay real here. Being an entrepreneur has not just all positive sides. While building your business you could face a lot of challenges & even struggles. But if you are willing to believe in yourself & you are willing to grow, work hard & learn from your mistakes without getting into a self-blame mode, the success will be knocking at your door very soon.
And of course. Every story is different because we all have different starting points, different resources & we are brought up in different conditions. However, through interviewing and meeting many successful female founders, I realized some common factors which contributed to their success.
And about those factors we are going to talk about in this course.
We identified 7 success factors of female entrepreneurs.
Those are:
- Building a strong network & making it work for you
- Ability to take smart risks & conquering your fear of failure
- Having a reliable co-Founder & a dedicated startup team
- Ability to think positively & believe in yourself
- Being able to follow your gut feelings
- It is also extremely important to practice self-care & take time for yourself to recharge. Because you cannot accomplish things with an empty cup.
- And the last aspect, think early enough which ways of funding you will use to start & grow your business. Be confident in your own way of doing it. Bootstrapping, crowdfunding or VC fund, It needs to feel right for you.
I’d also like to mention that you need, of course, to decide success on your terms. Don’t compare yourself to others, because it is your life & you are in charge of it. And you can build it in your own terms.
