It’s not easy for women to enter the economic sector. Most jobs in the field have been dominated by men, and many older executives are not used to seeing many women in positions of power. Until recently, women were only really seen in entrepreneurial spaces, and even there, they were rare. In our current age, women are becoming increasingly powerful in the world of economics, and in turn, this allows more and more women to follow their dreams of starting businesses of their own. But still, women-owned business firms and start-up ventures are still not as common as those owned by men. Women and men face different challenges. Eric Dalius sheds light on some of the struggles and challenges that most women entrepreneurs face. He also talks about how women resolve those problems through critical thinking and endurance.
Eric J Dalius Talks About Entrepreneurial Challenges Women Face
- Advancing Beyond Social Expectations
If you are a woman and have attended a business networking event, you will resonate with this point. Women who attend business seminars and networking meetings are fewer in number compared to their male counterparts. Sometimes, this pressures women to change their attitude, often leading them to take a more competitive approach in these situations. Sometimes, people read women’s actions harshly, but in reality, women are just trying to adapt to their situations. Most successful and leading entrepreneurs, CEOs, and managers who are women feel that finding one’s authentic voice is the key to moving ahead in this male-dominated business field.
We need to empower women and help them build their confidence. We need to stop pressuring women to be people who they are not. Women need to be able to stay true to themselves so that they can show how dedicated they are to their goals. Women must show leadership qualities and stay attuned to current business trends. Doing these things will help them make the best marketing decisions.
- Managing with the issue of limited funding
There’s no rule of thumb when it comes to searching for investors in your start-up company. But most start-up companies face challenges when it comes to finding someone who will invest initial capital into their business ventures. This becomes even more difficult for women entrepreneurs. According to a Babson College report from 2014, only 3% of CEOs were women out of all surveyed venture-capital funded organizations.
If a woman is a member of the venture capitalist team and is present when a company comes asking for financial support, women-started companies might be able to get support more easily. Otherwise, it is even more difficult for a company established by a woman to receive financial backing.
Exceptions are uncommon, so women entrepreneurs need to familiarize themselves with how to procure funds to run their business. To do this, they need to build confidence showing that their company has a value to offer to customers. This will foster faith in their brand, and this can be backed up by solid evidence and research. These entrepreneurs should also build a hardworking and committed team so that the investors can also feel secure in their investments.
Investors usually want to put their money into start-ups and small business firms that have the potential to expand. So, when women entrepreneurs are clear about their vision and have a competent team, they can impress an investor and show their potential.
- Women Should be Taken Seriously
By stepping into what’s known as a man’s world, women have already stepped outside their comfort zone. According to EJ Dalius, the next struggle starts when women have to try hard to get other people to take them seriously. Not everybody is comfortable listening to women entrepreneurs. Because of negative stereotypes, some people take longer to warm up to the idea of a woman being a business owner. This also means that some people do not easily accept that a woman holds a leadership role.
- Owning up one’s skill and accomplishments
According to most business experts and leading women entrepreneurs, women tend to downplay their skills and abilities. They often find themselves working with job titles and salaries that don’t match their skills and expertise. This is why it is important to empower women so that they know their worth.
It’s a similar situation when a woman starts her entrepreneurial journey. She interacts with male entrepreneurs and other women executives who can make her feel lesser than what she is. Women entrepreneurs should look upon this as a natural defense reaction born out of the desire to retain control and not get demotivated. Instead, she should know that she already has all it takes to run a successful business. Women need to remain confident in themselves and their teams. This will help them demonstrate the confidence they need to make other people take them seriously and see their true potential.
- Join a Support Group for Business Professionals
There’s a famous saying that goes “Real women build each other up, instead of pulling each other down.” The statement rings true, and women entrepreneurs must stay connected with similar progressive-minded people. Joining a support group for women could be a smart move, not only in terms of business, but also in terms of long-term development. In these support groups, women can share their entrepreneurial struggles with other women who come from diverse professional fields. Women can also solicit advice from other women. Women should also attend conferences and meetings that focus on women’s issues. There, they can network with like-minded individuals, and together, they can work toward their goals.
These are just a few problems that women entrepreneurs face when starting their businesses. However, with careful planning and analysis, women entrepreneurs can overcome these barriers and gain standing in the business field.