Females are the fastest-growing demographic of business owners around the world. Despite this they still find themselves experiencing a higher failure rate than men when it comes to entrepreneurship. The reasons for this are many; less access to capital and entrenched social norms and mores that create a larger barrier to entry than for men.
Men have traditionally been the undertakers of business and commerce, leaving the women to stead the home and raise the children. It goes without saying that these views have changed considerably over the last few decades but they have not vanished entirely. Because of this women may have to do more to accomplish the same thing as their male counterparts when it comes to business. Unfortunately, many women do not know how to begin.
Here we will look at some of the most important advice from several successful women.
MICHELLE GARCIA, OWNER OF HEIRLOOM CATERING DENVER, CO: Michelles Heirloom Catering company is devoted to the slow food movement, meaning it promotes the use of local ingredients as well as geographically traditional cooking. “Michelle built the business by forging relationships with local farmers, ranchers, and growers as well as developing her own seasonal garden and aeroponics system,” writes Stephany Belle, a business writer at PhDKingdom. When asked what advice she could give to aspiring female entrepreneurs she said to not be afraid or embarrassed to ask for help or advice. “People want to see others succeed,” she says “if you need advice just ask!”.
CARRIE SPINDLER, OWNER OF GOODIE BOX BAKE SHOP CLIFFSIDE PARK, NJ: Carrie sold her first cupcake in 2009 inside a local wine shop. She soon moved on to renting out space in a small kitchen where she would bake every morning. With time word began to spread about the quality of her baked goods and GoodieBox BakeShop was born. In 2012 she suffered a setback when Hurricane Sandy destroyed her little bakeshop. Determined not to give up she opened a new location in New Jersey in 2014. The best advice she can give to new women in business is about commitment. “Define your business and brand and stay committed to it,” she writes. She continues by emphasizing the importance of consistency in one’s brand and image. Carrie ends by adding “This is especially important if one is starting a business with limited financial resources”,
Sheila Lirio Marcelo, Founder, Chairwoman, and CEO of Care.com: Sheila started care.com in Vancouver British Columbia, a city whose high cost of living has resulted in many families where both partners need to work in order to provide a quality standard of living. This, along with the low amount of childcare services in the city, provided her with the opportunity to launch care.com. Care quickly expanded beyond childcare services, providing services for this such as home and garden care, pet care, tutoring, and elderly care. “Her advice has to do with how people pursue perfection.” writes Kelsey Ramsey, a career expert at Nextcoursework and Australia2write. “Sheila found that if one cannot control the expectation of perfection they are likely to burn themselves out very quickly.” Burnout is a major issue for female entrepreneurs who are also trying to juggle business with motherhood.
Heather Hartnett, CEO and Founding Partner of Human Ventures: Humans Ventures is an investment and development firm that has a focus on how new products or services affect the human user. It was started in 2015 in part by current CEO Heather Hartnett. When asked about her best advice for up and coming female entrepreneurs she recalled how for her it was often to deal with the feeling that she could not control everything. Circumstances are bound to arise that one can no control over. Instead of fretting over what cannot be changed it is best to deal with what can do about it.
Conclusion: While it may be more difficult for women to break into the business world it is nowhere near impossible. People like Ginni Rommety, Meg Whitman, and Trisha Griffith are some prime examples of women who were able to rise to the top in their respective industries. Never in history has there been a more favorable time for women to leave their mark on the business world.
About Michael Dehoyos
Michael Dehoyos is an editor and content marketer at Academic brits. He works closely with companies and organizations to develop personalized marketing strategies to reach more clients and grow brand recognition. He is also a writer and has contributed to several publications.