Female network marketers (and entrepreneurs) have made a significant impact on the economy. An older stat, but one we still find relevant, is that, as of 2017, there were 11.6 million women-owned businesses.
This means employing nearly 9 million people and generating more than $1.7 trillion in revenue.
Women are starting businesses 2.5X faster than the national average. And, there are 114% more women-owned businesses in the United States than 20 years ago.
So, we thought this was a perfect topic to run with and share our thoughts on what are the things that female entrepreneurs need to know.
LET’S START WITH SOME FACTS …
Females are more likely to be operating home-based businesses (68% vs. 48% of men). Although females still hold the majority here, this is a definite shift over the past decade.
But … male and female entrepreneurs do share some commonalities, for example;
- Experience the same levels of guilt about spending time with their businesses
- Spend “less time with friends” and typically the most significant sacrifice to owning a business
- Both male and female network marketers say; that a ‘Hard Work Ethic’ and ‘Confidence ‘are the top skills needed to succeed.
- Believe charisma and intelligence are the most overrated traits for success.
- ‘Not asking for help ‘is the biggest mistake they’ve made.
- Same monster fears: Finding new customers and getting out of their comfort zone
Additionally, male and female business owners have the same top 3 motivations for starting a business;
- A passion for or expertise in chosen field/industry
- Freedom and a flexible schedule
- I always wanted to be an entrepreneur
Where do you fall? (we’d love your thoughts in the comments)
There are also some interesting financial facts about male vs. female businesses. And we don’t want to spend too much time there today, but if you have interest in things like loan differences, success rates, hiring and firing … let us know!
6 THINGS FEMALE NETWORK MARKETERS NEED TO KNOW
Whether you are new to network marketing, still hitting the ground … we think these few things will help you. First, we realized that although we have come a long way in gender, there are still these differences. And that’s OK … because the more female entrepreneurs come onto the scene, the more powerful we all become!
YOUR BUSINESS WILL FOLLOW YOUR LEAD
In other words, you can do whatever you want to do. But, you have a business idea, big or small, right? So, write out a list of you think you need to get started and GET STARTED!
Today, like right this moment.
There’s so much you don’t know, so much you couldn’t know, and that’s how life goes.
Use the ideas, experience, education and opportunities you currently have to build what you need. Of course, you will make mistakes, and you might cry them out in the shower or have your closet temper tantrums or feel sorry for yourself, but celebrate small victories because they WILL become more prominent, and then do it all again.
LEARN TO ASK FOR THINGS YOU NEED
As you navigate your business, you will come across resources that you need to be successful. Figure out what you need at each stage and ask everyone. It is often the most unlikely people that will give you the insight you are looking for. Ask people you meet in person, ask in Facebook Groups, your network, etc.
We often read about minimal support, but the magic happens when you plug into the right spots. Our Networkers Hangout on Facebook may be the spot you’re looking for!
CIRCLE GETS SMALLER. VISION GETS BIGGER
You will meet a lot of naysayers and people who do not get or understand your vision. Avoid these people or any conversation with people that do not inspire you to move forward.
We can’t help how they feel, right?
We are people who crave emotional connections. First, however, we need to make sure we’re feeding the right emotions.
BECOME A LIFETIME STUDENT
The key to consistently growing through innovation and success is knowledge. Every successful entrepreneur we know is a committed learner. The average CEO reads up to 60 books a year.
If you don’t like reading books, lose the excuses and try …
- online classes
The more you know, the more you can influence and impact others.
QUIT WORRYING ABOUT FAILING
Listen, it is normal to be nervous, scared, anxious – whatever, but put a lid on it. Instead, tell yourself you are worthy, you deserve this, you need and want this. Those are the things your inside voice should be saying.
Because hey, you will stumble along the way.
There may be days that you feel like an absolute failure — but you’re not. The only failure is when you don’t learn from what happened. So take the lessons that life will throw at you, adjust, pivot and keep it moving.
PEOPLE ARE GOING TO BE NOSEY
Female entrepreneurs should probably get ready for all aspects of their life to be picked apart. This will be everything – from what you wear to your relationships. Female network marketers receive unwarranted criticism for pushing through gender stereotypes.
[From a Forbes Article] Aimee Kandrac, founder and CEO of WhatFriendsDo, acknowledges that female founders are often asked to note their various personal roles before describing their roles as business leaders. She writes, “I am a wife. I am a mom. I love those roles. I am also a business owner and founder of a company.”
Personal lives almost begin to intertwine with personal in direct sales and home-based businesses. And, this happens far more often than we’d like to admit.
Overall, female network marketers are CRUSHING IT! and rightfully so.
We hope that these few things were helpful for you, and we can’t wait to learn more about your journey!