Entrepreneurship coach, Charlene Walters, provides the tools you need to successfully launch and grow your side hustle, start up, small business, and be a Fempreneur.
We all know what a dismal mess the business world was in 2020 and see how that situation continues to loom in 2021. There’s been a lot of uncertainty, upheaval and unrest, and, alarmingly, we saw some 1.1 million people leave the workforce in October 2020 – 80% of which were women. There were a number of reasons for this dismal trend including the facts that women were more affected by layoffs and furloughs than men, as well as the disproportionate impact of the extra responsibilities that have been placed upon women related to childcare, family obligations and homeschooling. What’s worse is that in many cases, these women are also the primary or co-breadwinners for their families (some 46% of all women).
Entrepreneurship as an option
Yet there’s hope. Entrepreneurship may be just the ticket for these displaced women. Launching a startup offers them greater control of their earnings, livelihood and lives. In addition to wanting more flexibility and control over their schedules, many women have become dissatisfied with the 9 to 5 grind where they have less say about their career direction, agenda and earnings. Starting their own businesses enables them to dictate what they do, when they’ll work and how much they’ll make. And women need this greater flexibility to juggle the multiple responsibilities they face while still having enough time for themselves and their wellbeing.
This new crop of 2021 fempreneurs will join the nearly 42% of all small business owners who are women generating more than $1.9 trillion in revenue. There are many new startup options for aspiring entrepreneurs, some even resulting from COVID-19, including businesses related to tutoring, homeschooling, safe entertainment, home décor, real estate, meal preparation, childcare, eldercare, delivery services, mask and fashion manufacturing, digital marketing, writing, videography, photography, IT, AI and more.
Embracing an entrepreneurial attitude
In order to join the entrepreneurial pack, women must change their mindset to adopt certain behaviors and specific ways of thinking to achieve business success. It all starts with taking action as jumping into entrepreneurship will require a huge leap. After they’ve done their research, formulated their plans and started their companies, these women will need to continue to keep pushing their businesses forward in a progressive way. Central to this transition, they will be honing their entrepreneurial attitude which involves building confidence, getting more comfortable with taking risks and putting themselves front and center, working on their creativity and innovation, recovering and rebounding from setbacks, and springing into growth mode while continuing to keep the ship moving forward. Business ownership has its challenges, but if women entrepreneurs tweak their mindsets, they will rise to the occasion and thrive.
The future is for fempreneurs
And it is going to be awesome to watch a brand-new group of companies run by female founders who are doing what they do best- pivoting to changing conditions while taking care of their families and themselves. Women are used to juggling and are extremely resilient so being their own bosses will suit them more in the current business landscape and I, for one, can’t wait to see what they do! Shifting the way that they think will help these women to triumph over current challenges and lead to their ultimate success as business owners. 2021 is most certainly the year of the fempreneur!