Despite facing tremendous management challenges, women entrepreneurs are determined to make it, a new study has found.
According to a survey by Vistaprint, an online provider of marketing products and services to micro businesses, 69 percent of women entrepreneurs expect more financial success for their business in the next year.
Women Business Owners Optimistic
The study found 63 percent of U.S. women say starting a business has allowed them to take control. This includes women like Tara Gentile who opted for entrepreneurship after working in a regular job. A business instructor at CreativeLive, shares with Inc, “I decided to become a business owner after I was looked over for a promotion while nine months pregnant.”
Women business owners are, in fact, so happy with their decision to follow their entrepreneurial dreams that 78 percent would recommend starting their own business to someone else.
Women entrepreneurs’ optimism can be attributed to the opportunities that are available today. Seventy-two percent of female entrepreneurs agree as they feel women they have more opportunities available to them than in previous generations.
“There are [a] lot of industries where men are just entrenched and that’s just the way things are,” Maisha Walker, president-elect of New York’s chapter of the National Association of Women Business Owners (NAWBO) told The Guardian. “That doesn’t mean they aren’t changing and that we can’t make that better. It is what it is and it’s important to recognize the environment that we are operating in.”
But Challenges Still Persist
While women entrepreneurs show a lot of confidence and resilience, there are some challenges that continue making life difficult. Managing day-to-day operations (52 percent) being the biggest difficulty.
To address this challenge, women and other business owners need to streamline operations to keep things moving. An agile workplace can make a big difference. That’s why it makes sense for businesses to understand how best they can service clients without overburdening themselves.
Another challenge for women business owners — and all entrepreneurs — is finding more networking opportunities. This can be addressed by being more active on social media. There are various forums and networking sites where likeminded business owners can connect to share ideas and learn from each other’s mistakes.
Attending trade shows is also a great idea to not just network with the industry, but to also see what’s going on in the market.
A clear understanding of what customers need and how best those needs can be fulfilled can help women entrepreneurs achieve more success.
Woman Business Owner Photo via Shutterstock