There is no denying that female founders often face ups and downs in the business world. They do not receive a small percentage of the unequal amount of VC funds available, but they are often discriminated against and sometimes harassed.
Nevertheless, female founders continue to improve. In fact, according to the National Association of Women Business Owners, “one in five companies with an income of $ 1 million or more is owned by a woman.”
Of course, to reach that level, you need to survive your first year in business. By being prepared for the opportunities and challenges that may come your way, you will be in a better position to make that first year a success.
1. Fighting against ‘proven patterns’
Like it or not, female founders often encounter preconceived notions about what an entrepreneur should look like, what women look like (and they aren’t capable of) and even their dedication to their business ideas.
In a blog post, Elizabeth Yin, co-founder of Launchbeat, wrote, “I went to a startup event where me and the men. And, people will think I’m the caterer or the event organizer (even I’m drinking all the beer except the food scarf). And, to put it bluntly, there is nothing wrong with being a caterer or event planner, but it strengthens me that these stereotypes about what entrepreneurs look like must exist. It’s gotten better – with more and more women starting companies, it happens to me less and less (or I go to less startup events now). That will change – it’s a work in progress. “
Yin recommends that female founders call people when they encounter stereotypical thinking, as well as being mentally prepared for old-fashioned thinking at pitch sessions, conferences, and other business events.
2. Build confidence
As a female founder, you will face a lot of doubts. But the last place you want to arouse suspicion is yourself. Unfortunately, self-doubt and lack of self-confidence can negatively affect your thinking – and ultimately prevent you from reaching your full potential as a founder.
In an interview, Jelmer CEO and President Alison Gutterman said that joining the Entrepreneurial Group, especially for women, has come a long way in helping her “build my confidence and learn to overcome my negative self-talk.” , Verifies the reality of my abilities and success and helps me grow and learn from their outlook and experience. “
3. Connect with your target audience
Your first year in business is not going to be all trouble though. Ashley Sarnovsky, co-founder of Sunny Haneez, said: “Our first year in business was very exciting, as we saw our audience and brand grow as we connected with like-minded customers interested in our products. I think a big part of it has come from being true to ourselves and letting our personalities shine through websites, social media and elsewhere. Connecting our faces with the brand creates a personal touch and a level of connection that we wouldn’t otherwise get. “
Studies have shown that women are more sympathetic than men, and this is something that female founders can use to their advantage. When marketing your new product or service, it becomes easier to make an emotional appeal because you better understand (and relate to) the pain points of your audience.
Helping your target audience understand should be a key part of your one year plan. A strong sensitive connection will keep loyal customers with you thick and thin.
4. Learning and growing
One thing you can expect in your first year of business as a female founder, is a lot of learning and personal growth. You can learn a lot more by running your own business after reading 100 articles about it.
Your first year is guaranteed endless ups and downs. You will undoubtedly face rejection and make mistakes. At the same time, you will find victory when you sell and satisfy your customers.
The important thing is not to give up when it comes to failure and setbacks – and not to be overconfident when you succeed. Take a step back so you can see the lessons that can be learned from all of your first years of business experience. Identifying and applying these lessons in the future will lead you to greater success in the future.
Accept one of the Stride in Year
The first year of business is full of challenges for a female founder – but it also provides an amazing opportunity to dig deeper and understand what your strengths really are. When you do your best and use the business skills you already have, you can lay a solid foundation for your new company, despite any obstacles that may try to push you away.
Business can be tough, but there are many other things that you have already conquered in your life. You can do it.