Opportunities and challenges confront us all. This is true for both men as it is for women as well. But women who venture into the world of business as entrepreneurs often face some challenges that men in similar situations never face. However, in spite of these different challenges faced by women over time many of them have become successful and can hold their own in the business world. Now here are four common challenges that female entrepreneurs face and the opportunities for success they become.
1 Gender discrimination or stereotyping
It is taken for granted that men perform better in certain fields than women. This might be true with most women, but is certainly not always the case with every woman. It is for this reason that if a female entrepreneur for instance decides to start a civil engineering business she will most likely not be taken seriously. That is even when she has proved herself working in the civil engineering industry for years.
2 Lack of confidence by investors
This second challenge is also based on a bias. It is much easier for men going into business to raise capital for their business ventures than women who attempt to do the same thing. The simple reason for this is that bankers or investors prefer to risk their capital with men than with female entrepreneurs.
3 The business and family-life balance
Another challenge that rears its ugly head regarding women going into business is how they are able to manage their home front with their business venture. Now being able to balance business with family-life can be very tough indeed. Women naturally are their family’s backbone; as they play a critical role in the lives of their children et al. Consequently, female entrepreneurs are often faced with the challenge of commitment to the family or to the business.
4 The absence of equal opportunities
In spite of the recent development of more and more women getting into traditionally male-dominated fields, women still face the challenge of not being taken seriously when it comes starting a business.
Even with these formidable challenges that women are facing there are several ways many of them have been able to weather the storm. Below are four ways and in some cases opportunities that the above-mentioned challenges have created for women. They include:
1 Creating a strong network plus finding a mentor
One of the strongest ways women have used to overcome the different challenges they face in starting and running a business is that of connected to a network of women in similar situations. In addition, many of them have found encouragement and assistance from other women that have won this battle.
2 Government grants, assistance and resources for women
In many countries of the world assistance is being provided in the form of grants and what have you in order to help women in their entrepreneurial pursuit. This has provided a layer of support for female entrepreneurs. Therefore, this has given them the opportunity to succeed.
3 Multitasking and balancing work and life
It is no wonder that managing the home front has made women good at multitasking. So finding the right mix between work and family-life has been what a lot of successful female entrepreneurs have been able to achieve. They have been able to do this through time management as well as through delegation.
One quality that successful female entrepreneurs share is that they are determined. This was the case with Debbie Fields, who was able to start her cookies’ business in spite of the fact that her husband felt she would not succeed. Determination is also reflected in the story of the well-respected businesswoman Madam C.J. Walker and many others too numerous to mention.
Author Bio: The article is posted by Jason Phillips. He works with a multinational firm as a customer relationship manager. He knows how to retain the customer lifetime value.