The National Women’s Business Council annual report on the status of women business owners was quite revealing. The report shows that women are starting businesses in record numbers and that women have different challenges than men owned businesses. In part this has to do with public policies and gender biases that continue though many of the struggles are our own.
NAWBO Survey
How women view money is different from men and this can get in our way. An annual survey by the National Association of Women Business Owners showed that many women avoid debt, which is an impediment to business growth.
NWBC Report
The NWBC report shows that more women use their own money (credit cards, personal savings) to fund their start-up. At a recent meeting of the NWBC Shaderose Charania, CEO & Founder of Women 2.0 stated that women have to change their mind-set about being a small business owner versus an entrepreneur. With that comes getting more comfortable asking for money to fund business growth.
We Get In Our Own Way
Working with women business owners for 20+ years I have observed that we get in our own way. We do not think big enough and believe we have to do it all on our own. Sharon Vosmek, CEO Astia, stated that business owners cannot create great companies on their own. Her advice was for women is to network with men and women who can help them succeed, to find collaborators, partners, advisers, mentors, etc.
Thinking Small
Women tend to be fiercely independent and even when we do take on a partner we are still thinking small. The change in our success starts within. What is our vision of success? How big is that vision? Most women own very small businesses. Is that because it is what we want or all that we can imagine? Are we so programmed to play small?
Entrepreneur vs. Small Business Owner
I met two young entrepreneurs at a dinner sponsored by The Atlantic magazine and Bank of America. These young women clearly differentiate themselves as entrepreneurs NOT small business owners though the businesses they own are small in comparison. They differentiate themselves because they have a bigger vision and are willing to work to that level of success.
Change Our Thinking
Women are making great strides and we have a long way to go. It begins within. If we allow ourselves to think outside our comfort zone, get out of our routines, be willing to take risks and unset the apple cart then we will make a difference. Can you imagine asking someone to invest in your business vision? Can you do this boldly, with confidence and certainty?
Not Imagining Big Enough
Research shows that most businesses that make less than $100,000 per year do not survive. Research also shows that women are most comfortable with companies of 1-4 employees then fall off with over 100 employees. Similarly women business owners can create businesses up to 1 mil. then the numbers fall off sharply. What can we have? What size company can you imagine having? Women for the most part do not have a vision that includes running a large company. Is that our truth or what we have been programmed to expect?
Meditate
I urge you to meditate on the limits that control your space. Being conscious and aware of what is behind what you think and what you do will make all the difference. Are you creating your grandest vision for yourself? If not, write all the thoughts in your head about WHY NOT then clear your thinking and take a bold step forward – one foot at a time if you need to.
Best wishes on your success,
Kay Robinson
Check out retreat “Dream Bigger” November 2013