Solutions to the Challenges of the Female Economy

Of course, there are solutions to these challenges and that is, well the first problem that women are less risk-taking and get less funding. We need to talk about it way more. We need to encourage and lift each other because men probably won’t do that. So we have to be our own champions and our own sponsors and recommend and lift each other up.

And with more successful women, there will be more funding, I’m sure about that. But when it goes about female consumers, then it’s very simple. Just build a good product because that would give you a good recommendation, be authentic and provide real benefit. That shouldn’t be that difficult. As I said, it’s an unserved market. The female economy is untapped market potential, be aware that Pinkwashing, so just making pink products won’t solve the problem.

I’m as well talking a lot about the women, but actually, it’s a very diverse group. So be sure that you do your market segmentation in order to avoid stereotyping because women are looking for [the] real benefit and not for, just the label that says, for a woman by a woman.

I think we’re so much in this traditional thinking that we actually have to just talk about the untapped potential of the female economy. And actually a lot of male-led companies are going into that direction. But I really say don’t let them steal this potential. Because I really want you to understand that in this world, as a woman, every pain point that you experienced during your everyday life is a business idea. That likely will not core to any CEO who would Mark, John or James. So really, really observe your daily life, look out for the pain points and think of products that could solve that.

When you think of products for women, a lot of people directly think about fashion and beauty. But this is actually quite a mature and well-served market. So in the last years, we saw the rise of the Femtech sector, which was mostly centred around female health, topics like reproduction, periods and pregnancy. But as I said before, every pain points you experience in your everyday life is a business idea.

So I want you to think about the mundane problems you’re facing in your life. How easy is it to open the door? You know, is there a potential to build a better door? Because men usually have two hands to open a door, whereas a lot of women carry a child, a handbag, and a bag of groceries. So I think there must be better ways to open a door. Personally, I was fed up with the gender equality I was facing in my workplace. So I thought about how can we educate all those people so that I don’t have to deal with that problem anymore. Just do the same.