Starting your own business, big or small, can be challenging. Putting it up and managing it demands a lot of work. According to Ben Horowitz, author of The Hard Thing About Hard Things, the two hardest things about being an entrepreneur are managing your own psychology and knowing what to do next.
Female entrepreneurs want to prove that they can hang in there along with men, but what do they need to push them? Knowing where to start and what you signed up for is a must.
During the process of starting your own startup or passion project, our internal chatter and psychology can be our greatest barriers. We need to remember that it’s very normal not to know what is next and it is very normal to feel like it's just some time’s a little hard!
Marc Orchard, Director of Startup for BDO Australia, joined our recent podcast. He discussed how women can grow and succeed as entrepreneurs. Here are some of the things he shared.
According to Marc, female entrepreneurs struggle in advocating for their own business. That’s why they need the people in their inner circle to advocate for them. They also need to hear from the people around them what they’re doing right as well as what they’re doing wrong. An honest opinion from a trusted tribe supporter, friend or a relative helps a lot.
When females start businesses, we know they are passionate for the cause. Female founders have personal reasons why they start their business. Some are passionate about the products that they sell. They want to share their experience with their target market. Others are driven by a purpose, these are women who started a business to support a cause. It could be to help fund a loved one’s medication, promote awareness, support a social movement, etc.
Being treated as a legitimate entrepreneur is very important. It boosts the self-esteem of female founders. Plus, it validates all the hard work they did to put up a business. Raising questions for self-assessment without feeling vulnerable is important too. Validation should come from themselves and people they care about.
Female entrepreneurs tend to be critical of themselves. Listening to believers and acknowledging opportunities helps. Also, maintaining a work-life balance is useful to boost confidence. It gives them the assurance that they can do good both as entrepreneurs and matriarchs.
Tips for women who are thinking of putting up their own business:
Taking a risk is easier said than done. But you have to trust your gut and have faith in your skill set. Get the support system you need to muster up the courage as well. Possessing a positive mindset also helps you to move forward.
Don’t forget to catch the full episode of our podcast available on Spotify and iTunes!
Spend less time caught up in the clutter and more focusing on what is truly important.