Across the globe, female entrepreneurs spearhead profit-making ventures, not only contributing to economic growth but also serving as inspiring role models for generations to come. In the United States, women own a substantial 40% of businesses, collectively generating an impressive $1.8 trillion annually. The World Bank’s Female Entrepreneurship Resource Point reveals that between 8 million and 10 million small and medium-sized enterprises in developing nations boast at least one female owner.
These achievements are undeniably remarkable, and as I read about such success stories, I take pride in being part of this exceptional community. However, as a seasoned entrepreneur, I am acutely aware that these triumphs represent only the visible portion of the iceberg. The profound struggles and inevitable failures that lurk beneath the surface often go unnoticed by the world at large.
But you must be thinking why I’m talking about this, right? Well, the reason is quite fitting: today marks November 19th, Women’s Entrepreneurship Day. And as a seasoned entrepreneur, I am eager to impart some valuable advice for women in business or those poised to embark on their entrepreneurial journey soon.
So, are you ready to dive into my story? Well, let’s dive straight in!
My Entrepreneurial Advice on Women’s Entrepreneurship Day
There were days when I reveled in the sensation of being on top of the world, and others when I felt like I was submerged in a sea of failure. If you’ve delved into any entrepreneurial venture, these emotional peaks and valleys probably resonate with you. Such is the tumultuous journey of an entrepreneur. And let me assure you, for women navigating the entrepreneurial universe, the path is even more challenging.
From grappling with issues like limited access to funds, resources, and networks essential for securing funding, to contending with the disheartening reality of not being taken seriously, the entrepreneurial landscape for women is strewn with formidable obstacles
As an entrepreneur, you become a master juggler, balancing multiple tasks and responsibilities while staying focused on your goals. It’s a challenging and sometimes overwhelming environment, but it’s also incredibly rewarding when you’re able to see your hard work pay off.
So, here’s the first advice. As an entrepreneur, it’s easy to get bogged down in the day-to-day details of running a business. There’s always something that needs your attention, whether it’s a minor issue with your website or a last-minute request from a client. But not everything is worth your time and energy. By learning to say “no” to things that don’t matter, you’ll be able to focus on the things that do.
Secondly, If you’re thinking about starting your own business or embarking on an entrepreneurial journey, know that it won’t be easy. But if you can learn to let go, embrace failure, say “no” to things that don’t matter, and celebrate small wins along the way, you’ll be well on your way to success.
Third, is about dealing with negative feedback. One of the biggest challenges of entrepreneurship is dealing with criticism. As an entrepreneur, you’re constantly putting yourself and your work out there, which means you’re also opening yourself up to criticism. When I started my career, I used to take every criticism as a personal attack, working hard to hold back my tears.
But as I grew professionally (and became a mom), I realized that you can’t improve if you’re never told what you did wrong. If the feedback is well-built, it can be quite helpful. As Nelson Mandela said, “I never lose. I either win or I learn.”
Even when you make a mistake, it’s important to learn, adapt, and move forward. Learning to let go of negative feedback and use it as a learning experience has been one of the most valuable lessons I’ve learned as an entrepreneur.
Failure is an inevitable part of entrepreneurship. No matter how hard you try, you’re bound to make mistakes and encounter obstacles along the way. But instead of letting failure hold you back, the key is to embrace it and use it as a stepping stone to success.
Last but not the least, stand by your fellow warriors. The realm of women entrepreneurship is at a crucial juncture. As we applaud their triumphs, it is crucial that we prioritize tackling the persistent challenges. Share your success story, and at the same time, actively support and champion other aspiring women in their pursuit of success.
In the end, entrepreneurship is about more than just achieving big goals. It’s about the journey and the small victories that make that journey worthwhile. So, celebrate those wins, no matter how small they may seem, and enjoy the process of building something great.
And if you’re embarking on an entrepreneurial journey, know that you’re not alone. As someone who has experienced the ups and downs of entrepreneurship firsthand, I’m always willing to share my experiences and insights with others, whether they’re in an up or a down.
So don’t hesitate to reach out if you need support or advice. With the right mindset and approach, you can navigate the rollercoaster ride of entrepreneurship and come out stronger on the other side.
And before I conclude, I want to extend my heartfelt wishes on this World Entrepreneurship Day to all the resilient female entrepreneurs who continue to make their mark all over the world! Happy Women’s Entrepreneurship Day!