Back in 2012, women started more businesses than by men. However, just a couple years later, in 2014, male business startups dwarfed those of women. Unfortunately, out of the few startups by women entrepreneurs, many of them failed.
Women are actually uniquely qualified to begin start up businesses. Why? Studies show that when women start businesses, those businesses are usually more diverse than the startups of their male counterparts. Women are often more aware of the specific topics that must be addressed and the issues that need to be overcome to start a business.
Many women appreciate the flexibility that comes with being a female entrepreneur, especially those looking for a way to balance their work life and home life. A new start up also offers the opportunity to dig deeper into a passion.
If you’re interested in starting your own business, here’s a look at some important ideas to consider as you prepare to start a new business.
Start Building Your Network
Before you even begin to build your new business, you need to start building a network. You shouldn’t wait until you quit your job, no matter your professional role at the moment, to start working on the new business. Build relationships with potential clients, investors, and partners by continually networking. Those contacts could be helpful in the future.
Think About the “Why”
Why do you want to start a business of your own? It’s important to consider the “why” and make sure that you’re really passionate about it. It’s tough to begin a start up from scratch. If you simply become a female entrepreneur because you don’t feel you have other options, it will be difficult to make it through the challenges of a new business. However, if you really have a passion to deliver a new service or product or to solve a problem in a new way, you’ll work even harder through the tough times.
Overcome Your Fear of Failing
Many female entrepreneurs fear failure more than their male counterparts, but when you start a new business, there’s always the potential for failure. Leave your fear behind, have confidence in your abilities, and move forward with confidence. Don’t be afraid to ask for help and fight to keep your new start up on a tight budget. Failure is always possible, but you have to move beyond that fear if you want to enjoy success.