Some believe a lack of financial or technology literacy, risk-aversion or difficulty with accessing capital are the reasons women-owned companies haven’t expanded at the same rate as their male counterparts. Those aren’t traditionally gender issues — they are economic issues. Moreover, some women prefer to keep their companies small as they care for the needs of their families and/or strike work-life balance. There’s no shame in that!
For those who say “why not?” to growing their business while caring for their families and maintaining a modicum of sanity, here are 7 actions you can take to blow through the economic glass ceilings or walls of your business:
1. Build your support network. As a woman, you’re a natural networker. Use your communication skills to reach out and up to other female entrepreneurs.
2. Become a role model and mentor. The best way to grow quickly, personally and professionally, is to serve as a good example for others.
3. Collaborate with larger, more financially advanced firms. It expands your thinking.
4. Rethink your business model. A scalable business model significantly contributes to revenue generation without drastically adding time and cost.
5. Take a giant step forward — each week. Expand your comfort zone by challenging yourself to do something bigger at least once a week.
6. Refine your niche. Although it sounds counter-intuitive, the more refined your market, the greater your revenue opportunities.
7. Believe in yourself. When you trust in yourself and your abilities, you set life in motion and magnetize your dreams.
As a female entrepreneur, you have unique strengths and abilities. Why not celebrate yourself and your many accomplishments. It’s just smart economics!