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Challenges A Woman Entrepreneur Has To Encounter

Owning your accomplishments 

The communal, consensus-building qualities encouraged in young girls can leave women unintentionally downplaying their own worth. Molly MacDonald, founder and CEO of The Mobile Locker Co., a startup that provides personal storage for events, said she has always found it difficult to convey her own value as a leader.   


"When I talk about the company … I always find myself saying 'we' instead of 'I,'" MacDonald said. "Using the first person to discuss successes feels to me as if I'm bragging, and I cannot shake the idea that if someone knows it's just me in control, the value of what we do will go down. As I grow the business, I am making an effort to own what I've accomplished." 


Similarly, Shilonda Downing, founder of Virtual Work Team, advises women to recognize the value of their creative ideas.  


"I've had to catch myself on occasion when I noticed that I'm giving away too much without a financial commitment from a potential client," Downing said. "[I] recommend other women value their knowledge as well."  


Sharon Rowlands, CEO of Web.com Group and ReachLocal, agreed that confidence is the key to success, even when you're up against a boardroom full of men.  


"I had confidence in my abilities to run the business," said Rowlands. "I just made sure that any initiative I was trying to move forward was backed up by a solid business case. I was never unprepared for the questions I knew would come."  


5. Building a support network 

A robust support network is essential for entrepreneurial success, so it's no surprise that 48% of female founders report that a lack of available advisors and mentors limits their professional growth, according to Inc.  


"With the majority of the high-level business world still being dominated by men, it can be hard to blaze your own path and facilitate the introductions and connections into some of the more elite business networks," said Hanson. "As most of business today still rings true with the philosophy that 'it's not what you know; it's who you know,' this can be a huge factor in your ultimate success."  


Finding the right support network isn't always easy. Some good places to start are women-focused networking events – such as WIN Conference, eWomenNetwork and Bizwomen events – as well as online forums and groups created specifically for women in business, like Ellevate Network. 


Once you find your network of supporters, don't be afraid to ask for what you really need from them.  


"Ask often and ... be clear about what you need," said Addie Swartz, CEO of reacHIRE, which connects companies to women who are returning to work after a break or looking for new roles and advancement. "You never know who has the capacity to help. People are more likely to jump in if you are specific about what you need them to do. If you don't ask, you won't get."   


Balancing business and family life 

Parent entrepreneurs have dual responsibilities to their businesses and to their families; finding ways to devote time to both is key to achieving that elusive work-life balance, said Genga. 


For Michelle Garrett of Garrett Public Relations, finding this balance meant leaving a corporate job and starting her own consulting business before her first child was born.  


"I knew that if I had continued working in the corporate world … I would have had to make a lot of choices I didn't want to make," said Garrett. "I do think the culture of work is shifting to allow women more flexibility, which is a good thing. But working for yourself will probably always allow more freedom than working for someone else."   


Coping with fear of failure 

Failure is a very real possibility in any business venture, but Kristi Piehl, founder and CEO of Media Minefield, advises women not to let their insecurities keep them from dreaming big. She encourages women to work through the moments of self-doubt that every business owner faces and not wait for perfection before starting their business or taking a big promotion. 


Failure should not be viewed as a negative or an excuse for relinquishing your goals, according to Swartz.  


"When you hear 'no' again and again, when your plans don't turn out, or if you make a costly decision ... see that as a teaching moment," she added.  


The road to success is paved with losses, mishaps and mistakes, but it can still take you where you want to go as long as you don't lose sight of your ultimate destination. 


"Stay the course," Swartz said. "Take in all the feedback; filter out the noise and the naysayers; learn from your mistakes and try not to make them again. But whatever you do, do not give up."  

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