women entrepreneurs

How To Prevent The Pandemic From Taking A Greater Toll On Women Entrepreneurs

Geri Stengel with Forbes examines trends in women business owners, what small business owners face during the coronavirus pandemic, resources helping women business owners navigate the outbreak, the importance of equal economic participation, and the economic and societal benefit of diversity in entrepreneurship.

“In this time of great need, it behooves the entire women's entrepreneurial ecosystem — policymakers, funders, supporting organizations, educators, researchers, the media, and the women themselves — to take swift bold action to expand or create policies that will address women's specific needs,” Stengel says.

Read below and click through to read the entire article.

By Geri Stengel, Forbes

Between 2007 to 2012 — the period before and after the Great Recession — the number of women-owned businesses jumped 27% while privately held businesses grew only 3.3%, according to the Survey of Business Owners by the Census. Average revenues for women's businesses decreased from $154,300 in 2007 to $143,700 in 2012 and privately held businesses revenue grew from $417,400 to $440,200 during the same period. One reason for the decline in revenue among women's businesses was a surge in startups, which had not yet achieved their full revenue potential. Another reason is that many of these businesses were necessity businesses: The entrepreneur's only viable employment option was to start a business. These entrepreneurs also tend to be sidepreneurs, working only part-time.

Like the canaries in the coal mine, women's businesses were already experiencing a downturn. Their numbers increased by 5.4% between 2018 and 2019, privately held companies only increased by 2.4%, according to the American Express 2019 State of Women-Owned Businesses.* However, after a slow but steady rise, women-owned businesses' average revenues declined from $143,100 in 2018 to $142,900 in 2019, while all privately held businesses rose from $468,000 to $474,900.

On the flip side: Women are also going for the brass ring. Between 2007 and 2012, million-dollar-plus women-owned businesses increased by 21% compared to 3.3% for all privately held businesses and between 2018 and 2019, it was 4.2% compared to 2.4%, respectively. These are the women I write about in this column.

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10 Stats That Build the Case for Investing in Women-Led Startups

Women-led startups don't just provide women entrepreneurs with opportunities—they're sound investments. From solving tech problems and fighting bias to efficiency and determination, women have had to have it all to make it in the startup scene. And from higher revenue and return on investment to performance and growth, they're making it work. Here, Forbes looks at 10 statistics that make a strong case for investing in women-led businesses.

By Allyson Kapin

The next Steve Jobs will be a woman. She understands how to solve a specific problem facing this world by leveraging tech. She knows the diverse and inclusive team it will take to build the product and implement solutions. She’s an experienced entrepreneur who knows how to operate with the leanest resources because, let’s face it, she’s had no choice considering how VCs have invested 98 percent of their capital in startups led by men. And the women-led startups that did raise capital, on average, raised 36 times less money in 2017 than those founded by men, according to PitchBook Data Inc.

But is the tide turning as more VCs diversify the startups in their portfolio? For example, Indie.vc, a fund founded by Bryce Roberts, (and currently accepting applications for their next round of investments) has been intentional about recruiting women-led startups since it launched and 50 percent of their portfolio is comprised of startups founded or cofounded by women. Golden Seeds has also focused on significantly diversifying their portfolio with women-led startups. Make no mistake though, these VC funds are not funding women-led startups as charity. They are investing in women founders because they understand the strong ROI of investing in diverse startups.

Here are 10 stats that build the case for investing in women-led startups. If you’re an investor, print this list out and post it on your wall to remind yourself to stop leaving money on the table. If you work with investment associates on your team, tape yellow sticky notes to their laptops so they never forget this money-making data.

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Image credit: Patrick T. Fallon | Bloomberg

How Female Entrepreneurship Can Become Stronger

Business 2 Community, a website connecting professionals and businesses with one another and to consumers, explores how women can become even more successful as entrepreneurs. Female entrepreneurship has increased and flourished in recent years, but there are still opportunities for growth. The author builds on previous research into women entrepreneurs, but moves beyond tips to become a successful entrepreneur—and into how to grow and flourish as a woman business leader.

Read on for tips on funding, mentoring, and research, as well as five tips to build strength as a business owner.

By Greetje den Holder

Two months ago, in 9 Tips on How to Make Female Entrepreneurship Move Forward, I stated that it is time for female entrepreneurship to move forward and gave some tips on how to do that. In addition, I listed six books on female entrepreneurship that I will list again at the end of this blog, just because I find it important that women know where to find information.

In this blog post, however, I want to show what it takes for women to acquire money from VC firms, why mentoring is important for female entrepreneurship, and how women can become strong as entrepreneurs. Writing this blog post, I have had help from recent articles by Shellie KarabellSophie Jarvis, and Eve Ashworth.

Female entrepreneurs face a big gap

Female entrepreneurs face a big gap: the kind of gap that happens when the venture capital guys (emphasis on “guys”) will not invest in you to start up or scale up your projects. Annet Aris, selected as one of Amsterdam’s Tech 50 women in 2017, feels it is not the number of female entrepreneurs that is the issue. In fact, she feels it is about creating an environment that is supportive for female entrepreneurs: “VC firms seem to find it hard to give money to a woman. VCs are mostly men and women are mostly ignored.”

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This Refugee-Turned-Entrepreneur Owns 2 IHOP Restaurants, Her Own Soul Food Restaurant, and a $250 Million Real Estate Portfolio

Business Women brings us the story of Adenah Bayoh, who immigrated to the United States at 13 from Liberia. Thriving as a refugee already showed her resilience, but Bayoh continued to grow and prosper--and extends the growth and opportunities to everyone around her. Listed as one of Ebony Magazine’s Power 100, Bayoh opened multiple restaurants, has a portfolio with more than $250 million in urban redevelopment, and has used her wealth, projects, and connections to build up the communities around her. Read below and click through to follow Bayoh's journey through investing in real estate; using her earnings to open two IHOP franchies; her newest venture in real estate development; and how she helps families, nonprofit organizations, and more.

At age 13, Adenah Bayoh escaped the civil war in her native country of Liberia, immigrated to the United States and is now one of the most successful entrepreneurs in her home state of New Jersey. She is the founder and CEO of Adenah Bayoh and Companies, which is the parent corporation that owns IHOP franchises in Newark, Paterson, and Irvington, New Jersey.

She is also the owner of a real estate development portfolio with over $250 million in urban redevelopment projects. Because of the success of her flagship IHOP in Irvington, she is the second largest employer in the Township. Recently, Adenah launched Cornbread, her signature line of fast casual, farm-to-table, soul food restaurants.

Her inspiration

Adenah began her career as an entrepreneur at an early age. After attending a public high school in Newark, New Jersey and putting herself through college, she secured a job in banking and began purchasing multifamily homes as investments. Following the financial success of these investments, she left her banking position to concentrate on building her own businesses focused on transforming and empowering disadvantaged communities.

Inspired by her grandmother, who owned a restaurant in Liberia, Adenah decided to use the profits generated from her real estate investments to open an IHOP in Irvington, New Jersey. After overcoming financial challenges and a learning curve, she cut the ribbon on her first location at age 27, making her one of the youngest IHOP franchisees in the country.

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How More Women Are Stepping Up To Fund Women Entrepreneurs In 2018

We love to see women truly investing in women, and this article from Forbes makes a case that 2018 can be a stellar year for women with capital funding women entrepreneurs. Read on to discover how a growing movement to stand up to sexism and reduced opportunities for women has been galvanized by diverse funding models, a focus on underrepresented entrepreneurs, angel investors, efforts to bridge the gap in venture capital and elsewhere, and women putting their money to work for their causes—and for other women—to truly make a difference.

By Geri Stengel, WOMEN@FORBES

Evidence has found that women business owners start and raise less capital than their male counterparts. Yet, the credit risk of women-owned firms that are six or more years old are indistinguishable from their male counterparts, according to Small Business Credit Survey Report on Women-Owned Firms. The under-capitalization of women-owned firms places significant limits on their growth.

Women’s activism to correct this injustice has been building, as evidenced by the rising tide of financing options for women entrepreneurs. Now, the #MeToo movement could bring a tidal wave of funding as women are inspired to stand up and speak out against sexism.

Whether you have $25 or $25 million, here’s how women have made it possible for you to help create a tsunami of funding for women entrepreneurs.

  1. Jessica Jackley cofounded Kiva so people could lend small amounts of money to entrepreneurs in the developing world. In 2009, Kiva brought its crowdfunding micro-lending model to the U.S. With a little help from friends, U.S. women entrepreneurs can raise up to a $10,000, interest-free loan through Kiva. Typically, five to 30 people you know can lend as little as $25. The rest comes from the Kiva lender community. It’s not just micro businesses which need small loans but scaling businesses too.
  2. Catherine Berman and Yuliya Tarasava founded CNote. It enables savers to earn 40X greater return than a saving account by investing in women- and minority-owned businesses. It’s first product provides 2.5% interest versus the 0.06% traditional banks offer. CNote invests 100% of your dollars in Community Development Financial Institutions (CDFIs). These loans range from a few thousand dollars to $500,000.
  3. Vicki Saunders created SheEO’s Radical Generosity to provide women entrepreneurs with larger interest-free loans. In the U.S., five hundred women (activators) make a tax-deductible contribution of $1,100, (including a $100 processing fee). Entrepreneurs compete to be one of five to divide the kitty. Activators not only become financiers but, similar to angel investors, share their expertise, connections and marketing support to help grow the companies they support.

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Four Full-Time Etsy Sellers Living the Entrepreneurial Dream

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By Wendy Rose Gould This article first appeared on SWAAY.

For those unacquainted, Etsy is a warm-and-fuzzy-inducing mecca of handmade goodies and vintage nostalgia items that are made available for purchase for anyone in the world with a credit card. It’s also the online destination for entrepreneurs who want to sell their products, be it original art, custom-made wedding gowns, treasures found at a dusty flea market, or luxe letterpress stationary.

With over a million stores – 86 percent of which are run by women – Etsy can be a somewhat difficult nut to crack. However, with dedication, a business development plan, and a solid product presented in a way that compels the traditional Etsy shopper to click “buy,” you can make a living by selling on the e-commerce platform. The four women featured below are some of the many who’ve found success at Etsy. We asked them about their backgrounds, merchandise, and how they ensure their business remains on a path of growth.

Barbra Salet of ILNP; Las Vegas, Nevada

PRODUCT TYPE: NAIL POLISH YEAR FOUNDED: 2012 PRODUCTS: 185 SALES: 19,823 FANS: 20,245

Tell us about the history of ILNP (I Love Nail Polish).

I started selling on Etsy in August of 2012, and if I remember correctly, I only had two or three polishes up for sale at that time. I genuinely wasn’t expecting much. My boyfriend suggested that I put some of the glitter nail polishes I was making for myself, as a hobby, on Etsy just to see if people would be interested. Since then, I’ve begun selling across multiple platforms and have grown my business to include 10 full-time employees.

What does a typical work day look like for you?

On a typical day, I wake up around 5 a.m., get ready, and arrive at the office a couple of hours before everyone else to plan my day uninterrupted. Work consists of a variety of things right now since our team is still somewhat small. This could be anything from handling customer support tickets, helping our production team with quality assurance reviews, developing new product formulas for future collections, engaging with people on social media, and so much more. There’s always something to do! I’ll typically go home around 7 p.m., and I do this seven days a week.

How did you grow your business from two nail polishes to 10 employees?

My boyfriend and partner, Jason, work together and he handles the business development side of things. We sell our products across multiple sales channels right now, and have only advertised in short bursts here and there as it’s quite difficult for us to keep up with the current demand with our current production equipment. The good news is that we have more equipment on the way and big plans for 2017! Another important aspect of finding success online is having excellent photography.

Customers don’t have the luxury of seeing your product in person, so we spare no expense on photos.

How many polishes do you sell, and what’s the average cost?

Our average product pricing ranges between $10 and $12.50. We sell quite a bit of product across multiple sales channels, including Etsy. Our profit margins are good however, right now most of our profits are re-invested right back into the business.

Which products do the best for you?

We have a lot of very popular products, but I would say one of the most popular shades we have right now is our rose gold Ultra Metallic, Juliette. It truly is an incredibly beautiful and timeless shade that is extremely classy. It’s hard not to fall in love with it!

In what ways does Etsy empower you as a female small business owner?

Looking back, I feel that Etsy was the perfect place for me to start my business. It introduced me to real people that genuinely wanted what I was making, so much so that they would pay for it! The first few sales, positive feedback, and communication from customers – not just friends and family, but people from all over the world I’d never met – gave me a sense of validation that I didn’t realize would help shape my attitude towards my own capabilities. It made me a believer in myself.

What advice do you have for women thinking about starting an Etsy business?

Do it already! Seriously, this is my number one piece of advice. Stop thinking about it and do it. Stop procrastinating and do it. Stop being a perfectionist and do it. Stop making excuses and do it. Not tomorrow, or next week, do it today. Do it. Don’t be afraid. It won’t be perfect, but you’ll learn and you’ll fix it.

Emma Barnes of Wildfawn Jewellery; London, England

PRODUCT TYPE: JEWELRY YEAR FOUNDED: 2014 PRODUCTS: 64 SALES: 4742 FANS: 6350

What does a typical work day look like for you?

I’m based in South London, which is where every piece of jewelry is made, and it’s all made by me. Every day is different, but usually starts with answering emails and then I get to making. Some days are spent wrapping and packing jewelry, and some are spent working on more admin-related tasks such as putting order addresses on envelopes or filling out customs forms.

What’s your most popular item, and why does it do so well?

My most popular product is the triple set studs. I created this setup for people who have more than one piercing on each ear – which is a lot of people – so I think it’s popular for that reason. It’s also a little bit different compared to the generic pair of earrings where both are the same. This listing allows for a bit of creativity!

In what ways does Etsy empower you as an entrepreneur?

The majority of Etsy sellers are female, and the fact that you can see so many creative and successful businesses run by so many women all in one place is empowering in and of itself. I’m also part of an amazing Etsy support network in London called “London Local Etsy Team,” which has over 1000 Etsy sellers as members. Running your own business isn’t always easy, and often means you work alone most days, but the team Facebook group is an amazing place for support if you need it.

How do you continue to grow and develop your business?

At first, I just had an Etsy shop, which was great because it introduced me to the world of e-commerce and selling directly to customers. I now have my own separate website that’s a great place to direct potential stockists. I’ve also begun to outsource some tasks that give me time to work on expanding my brand, too. An example of this is my work with a fashion agent who’s based in Germany and who contacts and manages relationships with stockists there. It’s been a great way to expand my business, as I don’t have the time or the expertise that she has in managing these relationships, but I still reap the benefits.

What advice would you offer women considering an Etsy business?

The first thing I would suggest is to join your local Etsy team, even if you haven’t listed anything yet. You can do it by scrolling to the bottom of the home page and clicking “teams” under the “Join the Community” tab. Starting a business is a steep learning curve, so being in touch with other people who have been on Etsy for longer will be helpful.

Cason and Kathryn Rainwater of WhenitRainsPaper; Atlanta, Georgia

PRODUCT TYPE: CUSTOM STATIONARY YEAR FOUNDED: 2011 PRODUCTS: 568 SALES: 17,467 FANS: 11,000

Tell us a little bit about your company.

When it Rains Paper Co is the story of two sisters who made their dreams a reality one rainy day. We specialize in paper, party, and personalization. Whether it’s planning a trip, hosting a Bachelor viewing party, or the regular girl’s night out, no detail is spared. Most people would say we go overboard. Us? This is our normal. Our lives are filled with spreadsheets and confetti, glitter and sharpies, scissors and checklists, and that was way before we started our paper business.

What are your most popular items?

There’s a real seasonal cycle, that’s for sure. From October through February, we cannot keep our calendars in stock. Beyond that, our personalized cake toppers do well, and in terms of paper goods, we’ve just launched five new designs of state-specific moving announcements. About a year ago, we added acrylic trays, and we design the paper insert for those. It’s been so fun to see where we can take the love of paper and apply it to other products.

What’s it like to work so closely with your sister?

We have always been oddly close. We run in the same friend groups and decided to get a house together when I graduated college. Basically, we are always together. Our only time away from each other was work, but then we decided to run our company full-time! Needless to say, we’ve learned the art of communication.

How do you divvy work responsibilities and continue to grow your business?

We both play different, but equally important, roles. From the beginning, we clearly defined our job descriptions to prevent any confusion. We have such similar taste and personality that we typically see eye-to-eye when it comes to designing. Cason is more business minded and can get caught up in the details, whereas it’s easier for me (Kat) to step away and see the big picture. Cason might be down because we haven’t met our daily sales goal, but then I remind her we are up 30% for the month. On the flip-side of that, Cason’s attention to detail helps us stay prepared for what’s ahead. She will be designing new Christmas products in July! As cliché as it sounds, we really are a great balance.

Maeven of MaevenVintage; Brooklyn, New York

PRODUCT TYPE: VINTAGE CLOTHING AND ACCESSORIES YEAR FOUNDED: 2008 PRODUCTS: 140 SALES: 3071 FANS: 13918

Tell us about your Etsy store.

Buying vintage was a way I’d been shopping myself for as long as I could remember. Invariably, I’d come across quality pieces that weren’t my size, but that I could envision other people wearing and treasuring. It was then that I began buying and selling as a hobby. In 2008, a friend suggested I try Etsy and after posting a few listings with immediate sales, I was hooked. I’ve been listing ever since. I run my studio from Greenpoint, Brooklyn, and I’m located in an old Art Deco style factory building that used to produce the original Eberhart Faber No. 2 pencils.

What does a typical work day look like for you?

Most mornings begin with getting orders out the door and responding to customer emails. Beyond that my days vary a lot and I wouldn’t have it any other way. One day I might be sorting through an estate and another day will be spent restoring garments. My days also consist of shooting photographs, measuring, and working on listings or having customers over to shop.

How did you grow and develop your business?

My business grew the most when I decided to believe in myself and commit to it. I was spending all my free time dreaming of vintage clothing, and it may have seemed obvious to those around me, but it wasn’t until 2012 that I took the plunge and devoted myself full-time to Maeven. Once I took my business seriously, the other steps followed and I’ve been able to grow each year. I rented a studio space and I launched an independent website and store. I began selling at markets and trade shows across the country, and I hired employees.

What types of vintage items do best for you?

As with customers’ tastes, this is constantly evolving. I have to remind myself that what worked last year might not work this year. It’s important to stay connected to your customers and understand what pieces they are responding to, and even anticipate their future interests. In terms of sourcing, I tend to do the best when I both listen to my customers and trust my gut.

How does Etsy empower you as a small business owner?

Unlike other platforms, Etsy offers an amazing community of like-minded sellers. It’s probably no coincidence that I find Etsy to be one of the most encouraging, supportive and positive selling platforms and that 86% of Etsy sellers are women.

What advice do you offer women looking to start their own business on Etsy?

Keep your day job until your business can support your salary, or at the very least you have numbers heading in that direction and you have enough set aside to make that leap. Maybe you don’t need to wait years to make the jump like I did, but the invaluable time I spent learning was was when my business was in the hobby phase.

12 Months of Entrepreneur Goals

By Lindsay Tigar

This article first appeared on SWAAY.

If you take a moment to look through those old dusty journals you kept as a child, teenager and college student, or simply scroll through long-forgotten iPhone notes, you’ll probably both recognize and be surprised by your musings. As a probably type-A personality who has always had many dreams, goals and ideas, you’ve likely set many resolutions for yourself, regardless of December 31 was knocking on your door or not. While having an idea of where you’d like to go and what type of career or company you’d like to lead is an important factor in success, many experts argue that starting small, shorter goals can actually be more impactful over time. And well, set you up for more accomplishments than a larger, overreaching resolution that could be hard to meet.

“Entrepreneurs are visionaries, first and foremost. We have a vision for how the world should be, and through our businesses we are creating that change. We are so inspired by our big vision, tough, that it can become overwhelming,” life and success coach Alionka Polanco says. “Small goals are important when you’re an entrepreneur because they keep you moving forward every single day to achieve your big vision!”

If you’re having trouble crunching those numbers and mentally prepping 12 tiny goals – whew! – don’t worry, we did the blueprinting for you. Here’s what to focus on, by the month:

January: Create a Vision Board

Even if you’re not artistic, a vision board can be easy to create with the help of magazines or printing off some influential images or words. As an entrepreneur, you likely find it pretty simple to dream, not only about what you hope for but what you know you can accomplish, if you put the right amount of gusto and grit behind it. That’s why Polanco says creating a vision board can help take those lofty ideas floating in your mind and give them grounding by being on paper and up where you can see them. “How do you want the year to go? This month is a great month to envision how you want to feel and what you want to see by January 1, 2018,” Polanco says. “ This way, you can reverse engineer that vision to set your goals.” Regardless if you choose construction paper or a bulletin board, make your collage as big or small as you like, just make sure it’s somewhere you can catch a glimpse each day.

February: Identify the person you’re helping.

You know all of the major components of running a business: your employees, your budget, your investors, your strategy… and of course, your customer. While February is often considered the month of romance and love, Polanco says it can also be about a different type of attraction in the business world. “Once you’re clear on who your favorite customer is, you can start attracting them by going where they go, speaking their language and winning with them,” she explains. So grab a box of chocolates, buy yourself a bouquet of flowers for your desk and figure out who you want to help, sell to, assist and attract. Without customers, after all, what would your company be?

March: Be fearless and get out there.

There’s a reason so many songs, literature and vacation plans start to feel more lively and positive in the springtime. It’s a season of change, and not just in terms of flowers and warmer temperatures – but because it seals off the first quarter of the year, giving a clearer perspective of what you can expect, predict and prepare for. That’s why Polanco says this is the time to be fearless and pitch your heart away without doubting yourself. “Spring is a time of immense growth both personally and professionally, so it’s a great time to start selling your products or services with gusto,” she explains. After all, the work you do this month could help make your numbers, your profits or your goals for the rest of the calendar year.

April: Nurture your audience.

While you likely have a firm grasp on the people who have already signed up for your service or have expressed interest in working with you, what about all those emails and all that info you have from people that haven’t been persuaded yet? As the second quarter begins, Polanco suggests taking time to nurture your prospective audience and engage with them in a meaningful year. “To keep your prospect line full, you’ll want to take care of your audience who hasn’t bought from you yet,” she explains. “This could mean hosting a free webinar, doing a blog series, or even getting on the phone with them for 15 minutes to learn what they’re most struggling with at the moment.”

May: Network.

When you look at your iCalendar and it’s bursting with deadlines, meetings, conferences, client desksides and well, dry cleaning slips and credit card bills to pay – you might roll your eyes at the very mention of an ‘after work happy hour for young entrepreneurs.’ As difficult as is it can be to prioritize networking with everything else you’re company is demanding, it’s often through these experiences that much success, impactful collaboration and partnerships are created. “Like the African proverb says, “’If you want to go fast go alone. If you want to go far, go together.’ Team up with other lady bosses and make magic,” Polanco says.

June: Host an event.

Even if you’re company doesn’t require face-to-face time to be successful, holding an event for your customers, possible customers, investors, employees and everything else that makes your engine run is a good idea. Why? Polanco says that summer yields itself to a more sociable atmosphere, and more people are inclined to get out and get involved when the weather is warm. The conversations and ideas sparked at these events could help shape your business model.

July: Rest and take a vacation

Repeat after us: even successful women take vacations. While the ability to completely disconnect, go offline and be present in the moment (with a margarita in your hand) doesn’t come natural to you, Polanco says it’s absolutely necessary to your own mental health, stability and happiness. Before you enter the last part of the year, it’s essential that you take the time that you need to regroup, relax and prepare for any challenges and goals ahead.

August: Strategize the last quarter.

“Now that you’re two-thirds of the way done, you can take inventory of what worked and what hasn’t and readjust your original year-long plans,” Polanco says. For most companies, what happens at in the last quarter is not only indicative of how hard you worked and how much you accomplished in the previous year, but it sets up how your first quarter will be. Since August is historically a slower time for most industries and international markets, you can take a moment, breathe, and really get serious about what you’ll be able to accomplish in the next few months.

September: Identify your daily metrics.

Now that you’ve made it through the majority of your calendar year, your business is chugging along and your employees are satisfied and growing professionally and personally, take a second to look inward. This is where you can begin to create and identify some micro-goals on a more intimate, individual level and acting on them. “Entrepreneurs build confidence by taking action, learning, while getting feedback on their actions and ideas and accomplishing micro goals,” Loral Langemeier, speaker, New York Times best-selling author, CEO and success and career coach says. “Micro goals strengthen your ‘action’ and ‘money making’ muscles. Just like the muscles in our body atrophy if we don’t use them, so do our action and money making muscles. The more you ‘do’, the easier it is to continue doing and to do more.”

October: Meet with your mentor.

Maybe it’s your very first boss who had a major impact on your life. Or someone you met in your industry that is revolutionary and ever-inspiring. Whoever your mentor is, take this month to actually get a date on the calendar and keep it. Take them to lunch, meet for after-hours drinks or try a new fitness class together. Having a melting-of-the-minds session will not only spark creativity in you, but empower you to finish the year strong and confidently. Why? Because they’re able to be real with you and give constructive criticism where needed. “Mentors provide outside feedback and insight that you might not see when you’re in it,” Langemeier says.

November: Tie up loose ends.

November often feels like a sneaky month that came out of nowhere and suddenly, you’re being fast-forwarded into all-things-holiday-and-travel. With many people out of office, a social calendar that quickly fills up and added stress, now is the time to get your affairs in order. While Polanco says to take care of your bookkeeping, update any legal documents and prep for the upcoming year, Langemeier says to have a money date with key players. And she says not just to do it in November, but each month if you can. “Sit down and review all of the initiatives, activities, etc. from the past month. Identify what worked well and what didn’t work well. Identify what made money, what cost money, what’s moving you towards your goal, what’s distracting you,” she explains. “Be honest with yourself and identify any activities that are distracting you from your bigger goal. Remove the distractions from your day to day actions and free up time to focus on the activities that will get you to where you want to go.”

December: Reflect and reward.

Chances are, you’re not where you thought you’d be at the end of the year. In some ways, you’re probably further along and more successful. In others, you perhaps fell behind your goal or targets. No matter where you are, Polanco says to take a moment to unwind, reflect and think back to the major successes you had and all that you learned, achieved and did. And while you’re at – remind your employees how thankful you are for them, too. This is a month of celebration! “Being an entrepreneur is one of the greatest gifts. You get to create our lives and income – so don’t forget that when the going gets tough, it’s 110 percent worth it,” she says.

The Top 5 Qualities Female Entrepreneurs Need to Succeed in 2017

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This article first appeared on Women 2.0, and the original can be found here.Malini Bhatia shares how persistence, courage, determination and balance can help female entrepreneurs in 2017.

For all of the gains women have made in the workforce, they are still disappointingly less likely than men to become entrepreneurs. In fact, the difference between the number of men versus women launching and running their own ventures is huge—recent research shows that men are 50 percent more likely to join the ranks of entrepreneurs than women are.

This is a problem, since when we look more generally at how women’s participation in business leadership affects the bottom line for companies, we see a high correlation between how many women are in leadership positions and how well a company does financially. For example, Fortune magazine reported that Fortune 1000 companies led by women outperformed the S&P 500 index while they were CEOs. Both payout ratios and business returns rose with women in charge.

How do we reconcile the reality that women are so much less likely than men to start new businesses today with the fact that having women in leadership positions is proven to help businesses thrive? One way is to identify characteristics shown to help women succeed in entrepreneurial roles. Here are five qualities that women can cultivate to become effective business owners:

Persistence

A recent study on women entrepreneurs from KPMG revealed the talents that female business leaders believe are most important to their success. While “working hard” topped the list, in close second was their “ability to persevere when times get tough.” This type of persistence is necessary to overcome the inevitable obstacles that every startup faces. To ultimately triumph as a leader, it’s important to keep following your vision even when others say no to your ideas. Commitment, focus, and staying the course can help you move beyond difficult moments and find innovative ways to achieve your goals.

Courage to overcome obstacles

When entrepreneurs hit roadblocks, another trait that holds them in good stead is courage. Courage involves having the confidence to take risks, which was listed as the third most significant factor for female business leaders in the KPMG report. While stereotypes of women leaders may suggest that they are more risk-averse than men, research has shown that isn’t true. In fact, women have a more nuanced view of risk-taking, according to findings from the Centre for Entrepreneurs and Barclays. Their study showed that more women than men describe themselves as financial risk takers (87 percent of women compared with 73 percent of men), as well as see opportunities where others see risks (80 percent of women compared with 67 percent of men). A high percentage of women do express concern about taking risks that they perceive as “fool-hardy,” however, showing that successful female leaders understand the difference between a courageous risk and a crazy one.

Determination

On a related note, being determined to reach your goals is as important as persisting toward them. Determination to succeed can help entrepreneurs with everything from hiring and managing good people (listed as the fourth success factor in the KPMG survey) to improving their industry expertise, having the ability to persuade and sell, and creating a strong network, all of which female business leaders identified as additional success factors.

Balance

While seemingly impossible to achieve in many circumstances, capturing the elusive work-life balance is something that appeals to many women who want to launch new companies. In fact, in the KPMG survey, the idea of balance drew the most unanimous response in the survey, with the large majority of respondents noting that work-life balance is crucial to them. While work-life blend may be more realistic than balance in 2017, women entrepreneurs need to find some way to level their scales to avoid burning out. The demands of a startup can be all-consuming, especially in an enterprise’s early stages, so women who have a handle on what helps them stay more centered have an edge over the long-term.

Positive attitude

Persistence, courage, determination, balance—these traits all add up to an approach to doing business that helps women stay optimistic in the face of adversity. When data shows that90 percent of startups fail, it takes a lot of confidence to believe that your business has what it takes to stand among the remaining 10 percent. If you can convey enthusiasm about your product or service through a relentlessly positive vision and attitude, then you can influence potential investors—and eventually customers—to take a chance on your dream. Many men have mastered the illusion of “faking it until you make it,” and successful women entrepreneurs use this trick as well. As a new business founder, you won’t know everything there is to know yet about your market and industry—you’ll need to learn it first, or hire someone else who knows it, to move forward. Your forward-thinking attitude and belief in your business can help you leap over and beyond those hurdles.

If you feel like these five traits aren’t naturally among your current talents, don’t worry. Anyone can develop these attributes if they pay attention to them. And you just might find that having a business idea that you’re truly passionate about will bring these traits into your evolving skill set without much effort.

Malini Bhatia is the Founder & CEO of Marriage.com, a community of experts that acts as your advisors by providing information & support for healthy, happy marriages. Her passion for supporting people through the journey of building and sustaining positive, healthy relationships, combined with her business acumen, inspired the creation of Marriage.com.

24 Exceptional Women-Hosted Podcasts for Entrepreneurs in 2017

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newstimes.com - Many of the most informative podcasts for entrepreneurs have a female perspective. Earlier this week, I shared my top picks for Best Podcasts for Entrepreneurs in 2017. The article received a phenomenal response from readers, gaining thousands of shares within the first couple of days of publication.

But after some thoughtful conversations on twitter, I wanted to share this list as a follow-up to provide a broader range of perspectives from female entrepreneurs and thought leaders. These 24 women-hosted podcasts were compiled through collaboration with Sarah Peck, Ally Denton, Elisa Douchette, Terra Milo, and Matt Hunckler. The list below will deliver insight, inspiration, and a diverse perspective that will give you an edge in growing your business.

Here are 24 exceptional women-hosted podcasts for entrepreneurs in 2017.

Farnoosh Torabi is the award-winning author, TV personality and host of So Money. This daily podcast was voted “Best Financial Podcast of 2015” and Inc Magazine picked the podcast as a “Top Business Podcast to Grow Your Business.”

 

Women Entrepreneurs Issue Letter to Next US President

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Even before the United States presidential election, one group of women leaders reached out to encourage support of women entrepreneurs across the United States.

"We write to you today on behalf of our nation's leading innovators, entrepreneurs and influencers regarding one of the largest untapped economic and social opportunities in our country: women entrepreneurs. If women and men participated equally in the entrepreneurial ecosystem, the United States' GDP could rise by $30 billion," the letter begins.

The letter, entitled "#WhatWeNeedToSucceed: A Letter to the Next President on Behalf of Women Entrepreneurs," spells out several opportunities to better support women entrepreneurs; leading with access to capital, as well as supporting trade agreements that foster opportunities for businesses of all sizes and making use of technology to support women entrepreneurs, from business registration to opportunities within STEM fields and combating unconscious within certain industries.

It's a "good business bet, not just a social bet," says Elizabeth Gore, entrepreneur-in-residence at Dell, where the letter was published last month.

Read about it below, and find the full letter here.

voanews.com - Actress Jessica Alba is a supporter. So is the president and CEO of Mastercard. The co-founder of AOL and the CTO of Estee Lauder are also on board. What do they all have in common? They are among the 85 American business leaders and startup founders who have signed their names to an open letter addressed to the next U.S. president.

The letter outlines policy recommendations designed to drive and foster female entrepreneurship in the U.S., including increasing access to capital, expanding entry into local and global markets, and streamlining government processes for entrepreneurs seeking to get their businesses up and running.

According to the group of signees, there is a great deal of money potentially at stake — $30 billion to be exact. The letter cites a McKinsey Global Institute study which found the United States' GDP could rise by that amount if women and men contributed equally to entrepreneurship efforts. But gender inequalities in society and the workplace have reduced women's clout and, as a result, their economic contributions.

 

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27 Inspirational Female Entrepreneurs Who Are Positively Impacting The World

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Entrepreneurship can be the ultimate investment and adventure, and there is always inspiration to be gained from the ups and downs of entrepreneurs' stories. Perhaps even more inspiring, however, is the impact businesses—and the women who lead them—can have. From authors and inspirational speakers to philanthropists and tech trailblazers, women entrepreneurs are using their businesses for good and making a difference. Read on for more from Everyday Power, learn from the impact women are having on the world, and keep investing in women—and in yourself!

everydaypowerblog.com - Female entrepreneurs are certainly a force to be reckoned with – and 2016 is their year. Today, about 37 percent of global enterprises are owned by inspiring, dedicated women. From supporting their own communities to contributing to global wealth, they prove that there’s no barrier when it comes to success.

Want to know their stories? Here are 27 of today’s amazing female entrepreneurs.

1) Julie Steines  

Inspirational Female Entrepreneurs Who Use Their Business for Good

Author, publisher, philanthropist, Mom to Norbert the Dog. 

 Julie (Freyermuth) Steines is a multiple award-winning children’s book author. She co-owns the publishing and education company, Polly Parker Press, with her mother, Dr. Virginia Freyermuth. Her beloved Norbert book series is inspired by her real-life 3 lb. registered therapy dog whose message is, “You don’t need to be big to make a BIG difference in the world.

As a registered therapy animal team for the past six years, Julie and Norbert have spent many hours volunteering at hospitals, nursing homes, schools, fundraisers, and homeless shelters to bring comfort and smiles to people of all ages. Julie’s work with Norbert has been featured on Time, People, Wired, HLN, Huffington Post, AOL, InStyle, Oprah.com, Paper Magazine, and Brides.com, among others.

Read more

Scaling Women Entrepreneurs: 'Imposter' Syndrome, Gender Insults And The Beauty Of Bragging

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Women trying to go big in business face far more dismal success rates than their male counterparts: Only 3 percent reach $1 million in annual revenue. In the first part of "Scaling Chronicles," a three-part series, Forbes contributor Jean Tang interviews five successful women entrepreneurs to get to the bottom of the challenges women face with scaling—and how they might beat them. Forbes - In my inaugural Scaling Chronicles, I mention how few women entrepreneurs reach a million dollars in annual revenue (“three percent,” according to Million Dollar Women). I heard from several female founders that this statistic was egregious, and I agree.

To figure out what gives, I convened five other women business owners one morning to discuss their particular challenges with scaling. What were some of our collective strengths? What did we perceive as weaknesses….and were our fears justified? Together, could we derive a model for scaling a female-owned business?

What follows—in a three-part series—are observations, revelations and excerpts from the lively discussion that ensued.

Visit Forbes to read the whole series, complete with observations from million-dollar CEOs and owners of service-based businesses.

Social Media Tips from 3 Wise Southern Women Entrepreneurs

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ME Marketing Services brings us an interview with three women entrepreneurs from The Southern Coterie, sharing their wisdom and tips about social media and entrepreneurship.  Women are the primary users of social media and the Internet, and with women opening businesses at unprecedented rates, it's no wonder they're leveraging social media to help their companies thrive. From the difference between various social media channels and claiming your company's name to handling feedback and the importance of supporting others, these three women entrepreneurs have some fantastic advice for anyone looking to use social media to thrive in business—or even just in life.

memarketingservices.com - Here are some stats about women entrepreneurs:

  • Women start companies at 1.5 times the average rate in the United States.
  • The absolute number of startups in Crunchbase with at least one female founder has more than quadrupled in the last five years, from 117 in 2009 to 555 in 2014.
  • Women entrepreneurs in the United States rank their happiness at nearly three times that of women who are not entrepreneurs or established business owners.
  • The U.S. ranks No. 1 among 31 countries considered by Dell on the support of women’s entrepreneurship.
  • Today, 18 percent of all startups have at least one female founder.
  • There are just over 9 million women-owned companies in the United States.
  • A net new 340,000 jobs were added by woman-owned businesses between 2007 and 2015. At the same time, men-owned businesses shed 1.2 million jobs, according to a 2015 study by Womenable and American Express.
  • Forty-six percent of the privately held companies in the U.S. are now at least half owned by women.
  • Financially, women entrepreneurs outperform everyone but blue chips over time. In the last couple decades, the growth in the number of women’s businesses (up 68 percent), employment (up 11 percent), and revenues (up 72 percent) blows past the growth rates of all but the largest publicly-traded businesses, and tops growth rates among all other privately-held businesses over this period.

Source: http://www.inc.com/lisa-calhoun/30-surprising-facts-about-female-founders.html

Being a female business owner, I’ve gotten to know others like myself from many different industries. Living in the South, there are thousands of us alone. I am a part of a group call The Southern Coterie, or more commonly referred to as the Southern C. This is a group of phenomenal Southern female entrepreneurs who come together to share their experience and knowledge to help each other. Through this group, I’ve gotten to know many of these wonderful ladies and today three of them are sharing their social media experience with us.

Read more here—including tips from Monica Lavin, founder of The Lavin Label; Alesya Opelt, CEO and founder of Alesya Bags; and Angie Tillman, owner of Phickles

WECREATE Center opens doors to Women Entrepreneurs

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The Women’s Entrepreneurial Centers of Resources, Education, Access, and Training for Economic Empowerment (WECREATE) was launched last week with US Ambassador Robert Godec, and joins a number of other centers lunched to help empower women by promoting entrepreneurship opportunities globally, tailored to provide education and tools specifically to help women. The center is one of three announced by President Obama during the Global Entrepreneurship Summit in July, 2015. Read more at the link, follow WECREATE Kenya on Twitter at @WECREATEKENYA, or visit the center online to learn more.

herbusiness.co.ke - The WECREATE center opened its doors last week, launched by the US Ambassador, Bob Godec. The centre aims to mentor and empower women entrepreneurs.

Based in Lavington, the centre is a fulfillment of one of the promises made by President Barack Obama during last year’s Global Entrepreneurship Summit held in Nairobi last year.

The WECREATE Kenya Women Entrepreneurship Center is a project of the United States Department of State and the Caterpillar Foundation.

“The center should collaborate with public institutions in enhancing the skills of businesswomen and expanding their businesses beyond the borders,” Said Sicily Kariuki, the Public Service Cabinet Secretary.

The WECREATE Center is the second one to be opened in Africa and it serves as an entrepreneurial community center for women interested in starting or expanding an existing business. The Center provides mentoring, business connections, specialized training, connections to the community, media attention, access to markets and capital along with the technical tools and resources necessary for taking any business to the next level.

Read the rest here.

 

CURLS Launches 'Girls Rule the World' Campaign to Empower Female Entrepreneurship

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The organic hair care company Curls, well known as a natural hair-care brand, is commemorating Black History Month with a program to empower women entrepreneurs. We love female entrepreneurship and we're inspired by programs like CURLS Girls Rule the World, which use the power of social media and women's stories to show other women that overcoming challenges and biases—even the intersection of racial and gender-based bias—is possible, and that resources are available to help women entrepreneurs triumph.

The featured event of the movement—the CURLS Girls Rule the World: Empowering Entrepreneurs Luncheon—will be held April 1; with celebrity expert mentors from business, media, entertainment, nonprofit and more.

We hope you'll visit Madame Noire to check out the whole story, including a list of luncheon guests.

Madame Noire - In celebration of Black History Month, CURLS has launched CURLS Girls Rule the World, a signature program dedicated to empowering female entrepreneurship, and MadameNoire has jumped on board as the official media sponsor.

To kick-off the national campaign, CURLS will host over 100 girls of color from New York City and Westchester County between the ages of 12 and 24 at its CURLS Girls Rule the World: Empowering Entrepreneurs Luncheon on April 1, 2016 at Mist-Harlem in New York City. The event will expose girls to accomplished mentors in various industries so they can begin to learn how they can make their dreams come true.

“We are so proud of our CURLS Girls Rule the World program and our upcoming ‘Empowering Entrepreneurs Luncheon’ in New York City,” CURLS CEO and Founder Mahisha Dellinger stated. “Having a mentor and being exposed to business resources to help me accomplish my dreams was something I did not have when I was a young girl. Being able to provide girls with the opportunity to meet successful women, who will stay in touch with them, is truly giving the girls a leg up in realizing that whatever they dream is possible.”

 

5 Challenges Female Entrepreneurs Face

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"As a female entrepreneur, choosing to do business with other female-led companies is one of the best ways to dissolve the patriarchy in the industry."

 

While this article underlines the struggles women in business face, particularly in male-based industries, it also offers a simple solution. Women must work together with such vigilance in order to close the gap of gender roles and stereotypes. If you are a woman with a business, no matter what it is, join in unity with other women who also have entrepreneurial aspirations. The sad truth is that oftentimes men won't bet on your business. So we as women, must bet on each other. 

- Victoria Mendoza

wearethecity.com - The issue of gender inequality has been a prominent topic throughout history, and despite women over 30 gaining the right to vote in 1918, the need for feminism is still prevalent in modern society.

In recent years, women have made great strides in the world of business, but nevertheless, there’s no doubt that female entrepreneurs are still facing a number of challenges in the workplace in comparison to their male counterparts.

Today, we’re exploring some of the challenges female entrepreneurs face, and how they can overcome these obstacles in their quest for a successful business.

1. Managing time between work and family life

Whether it’s a startup or well established business, finding that work-life balance is difficult for any entrepreneur – regardless of gender. While the notions of sharing parental leave and the decision to opt for a female breadwinner are becoming increasingly popular, traditional gender expectations often still prevail.

Starting a family can create all sort of challenges in the workplace for a woman. From finding time to fit in antenatal appointments to sharing responsibilities between their business and family, a female entrepreneurs can face far more taxing time management issues than male workers. There’s no right answer to the work-life balance either, it’s all down to personal preference and the demands of the business – meaning female entrepreneurs can often feel guilty for not fitting into the stereotypical roles and expectations.

 

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Female entrepreneurs on the rise in male-dominated Kirkuk

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Though they're still in the minority, there are thousands of women business owners in Kirkuk. From economic changes in the region to the ability to work on projects in supportive environments, Kirkuk paints a complex but encouraging picture for many ambitious women entrepreneurs. rudaw.net - KIRKUK, Kurdistan Region - When Fairouz Nasih started her own business in Kirkuk in the mid-1970s, little did she know that one day she her work would open new doors for women in the city.

Four decades later, her small sewing shop has turned into a design institute that gives complete courses in fashion, and even finds jobs for its graduates.

Nasih still remembers when she opened her very modest store in her poor neighborhood in 1974.

“I think everybody was shocked when they first heard that I ran a shop of my own,” Fairouz, now in her 60s, told Rudaw.

“I was very young, but I was extremely ambitious too, so after a while I rented a bigger place and continued from there,” said the woman, who currently owns her own fashion academy in Kirkuk.

Much has changed in the last decade with regard to women’s access to the labor market, as Iraq went through unprecedented economic growth, exclusively due to the money-spinning oil industry, which for now has declined as prices have dramatically plummeted.

Read more here.

 

Inside One Woman Investor's Plan To Get Black Female Founders Funding

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Though black women are the fastest growing group of entrepreneurs in the United States, their companies aren't being funded at the same rates as their peers--receiving only 0.2 percent of all venture funding in the past five years. Kathryn Finney set out to find out why--and to shed a light on the details. Calling black women entrepreneurs the "real unicorns of tech," #ProjectDianne was launched to show that there are viable startups founded by black women, as well as to promote the founders as part of a documentary. Finney hopes that these efforts, and the information collected through them, will help foster greater numbers of black women-led startups being funded.

Read about her efforts here and in the full article on Forbes.com.

forbes.com - Black women are the fastest-growing group of entrepreneurs in the U.S. They own 1.5 million businesses between them, up 322% since 1997. Their companies generate $44 billion a year.

So why is no one investing in their startups? Why have black women received only .2% of all venture funding in the past five years?

That was what Kathryn Finney set out to uncover when she launched Project Diane, a definitive study of the state of black women in tech entrepreneurship that took the better part of a year to complete.

“We knew it was bad, but no one was quantifying it,” said Finney, founder of Digital Undivided, a social enterprise that runs an accelerator program for startups led by black and Latina women. “It was just, ‘there are no black people, there are no black women.’ Anecdotally, we knew it to be true.”

 What she and her team found, after examining more than 60,000 startups: 88, total, led by black women. That’s 4% of the 2,200 women-led tech startups in the U.S.

Of these, only 11 have raised over $1 million in outside investment.

Read the rest here.

 

Start Me Up: Why Women Funding Women Entrepreneurs Works Best

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Take the Lead Women, an organization dedicated to gender parity in leadership, examines a new study that shows that women venture capitalists financing women's startups leads the companies to greater success--closing the gap with male entrepreneurs. 

taketheleadwomen.com - Show her the money. Please.

New research published in the Harvard Business Review reveals that female entrepreneurs are more successful when their start-ups are funded by female venture capitalists.

Sahil Raina, assistant professor of finance at the Alberta School of Business writes: ”With startups financed by all-male VCs, there is a whopping 25 percentage-point difference in the exits of female-led and male-led startups. Yet when startups are financed by VCs with female partners, that difference disappears. There is no meaningful difference in the success rates of female- and male-led startups when they’re financed by VCs with women partners.”

Raina continues, “These findings suggest that, somehow, VCs with female partners are better able to evaluate or advise female-led startups, or both, to the point that there’s no performance gap between startups led by women and those led by men. However, if female entrepreneurs get their funding from VCs solely led by men, their startups will be far less likely to be acquired or make it to an IPO.”

Gender matching can be one big factor in the improved performance of women entrepreneurs, he writes. It could also be that female VCs are better at advising women entrepreneurs or better at picking the winners. Still, “If the goal is to have more successful technology startups led by women, it may not be enough to simply encourage more women to start companies. A crucial step to helping more female entrepreneurs succeed may be to encourage more women to join venture capital firms.”

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‘You’re a girl,’ and other obstacles to becoming an entrepreneur in South Africa

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South Africa trails the rest of the country and continent in women entrepreneurship. Quartz Africa explores what makes the entrepreneur world so challenging for women--especially young women--and how to improve the business climate.

qz.com - “You’re a girl, you’re young.” Those words have followed Boitshoko Masetla at every turn on her journey as an entrepreneur.

At first it was her family, especially her male relatives, who believed she would be better suited to training for a stable and nonthreatening desk job. Then it was the potential investors who preferred to invest in her male colleagues’ untested technology rather than her already established bakery.

The worst was a potential mentor at an entrepreneurship skills incubator who thought the best path for her business would be to buy her out and giver her a job in the marketing department of his established confectionery.

“That’s where I learned the world of entrepreneurship is for men,” said the 23-year-old, who raised seed capital by selling ice-lollies. Today she runs a bakery from her home in Pretoria, supplying five schools in her neighborhood and supplying everything from cupcakes to bread for local events.

Her business, Sakatola Trading, employs six people and she is the sole owner after her three partners abandoned the business in the early years for more stable jobs. The only people willing to invest in her was her mother and a lecturer who realized her potential in her entrepreneurship college class.

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