Business Tips For Female Founders From 2021 – New PitchBook Report Gives Hope

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Being a female business owner has always been a rough ride, not for the faint of heart, yet over 12 million Women-owned businesses in America. Embracing the Entrepreneurial Journey, Inspired by Maybe 26 Self-Made Women Billionaires.

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While courageous, talented and innovative women continue to turn enthusiastic about women’s roles, power, and impact in the workplace – leading to more and more women occupying top positions in companies, universities and governments – women entrepreneurs in 2021 Still held to different standards.

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“Men are supposed to be competent and have done their homework … (and) inquired about ability … women … (on the other hand, get) challenging questions, such as ‘Why are you qualified?’ ” Shelly Porges Explained on my Electric Ladies podcast. She is the cofounder and managing partner of Beyond the Billion, an organization that catalyzes investment in women founders, and is a former senior executive at Bank of America and the US State Department.

In 2020, during the pandemic, venture capital (VC) funding in the US increased 16% overall, but fell 3% for companies actually founded by women. it is according to one new report By Pitchbook, in association with Porges Beyond the Billion and sponsored by JPMorgan. In other words, the already small piece of the VC funding pie that women founders received shrank even further.

What makes this even more surprising is the fact that women-owned businesses make a decent amount of money. 63% Higher return on investment than male-only established firms, according to Porges and First Round Capital.

Light at the end of the tunnel?

Maybe in 2021 investors are starting to wake up to opportunities for funding women. “Female-founded companies raised $40.4 billion in 2,661 deals during the first three quarters of 2021, breaking the previous annual deal value record of $23.7 billion in 2019,” the Pitchbook report’s press release said.

To help women business owners capitalize on this optimism for increased access to capital in the new year, here’s practical advice from female investors, mentors, and successful entrepreneurs from both family-owned companies and startups. They were all in favor of mission-led businesses, and all were guests. Electric Ladies Podcast,

1. “Make sure your own financial base is in good shape…(and) take advantage of the opportunities presented to you…be open…stop doing what you can now” Stop using what you know in new ways. Shelly Porges, beyond a billion

2. Learn how to raise money: “Learn that skill of raising money. I think this is the biggest problem that happens when women start their own business, that they started on shoestring… a lot of businesses need some upfront money to invest in things so that Make sure it’s a healthy, successful business before you can actually start to be profitable.” jenny kasani, Jenny Kason Consulting, Advocate and Fundraising Consultant for Entrepreneurs

3. Make sure you have a client: “Often people have a great idea but don’t understand that maybe it is too expensive for someone to buy it… you should be sure without any doubt that you have a customer.” Connie Stacy, founder and CEO of Growing Greener Innovation (renewable energy technologies) and winner of the US Department of Defense Award

4. make it useful: “One important thing that separates just random, mind-wandering, day-dreaming from true creativity or innovation is that the new idea … must also be useful.” Angela Duckworth, author of the best-selling book, “Grit: The Power of Passion and Perseverance,” a TED Talk star, founder and CEO of The Character Lab, and professor of psychology at the University of Pennsylvania.

5. learn room: “Listening, observing a room, learning the room, learning where your biggest obstacle may be, knowing who is involved in something you need to understand … the audience and the pitfalls in advance Try… I’m bringing stuff out from under the table before I do.” Cindy BigelowCEO of the Bigelow Tea Company, founded by her grandmother in the 1940s.

6. Diversity in many dimensions: “Diversity matters. Creating diverse boards, building diverse suites, making sure you have diversity. And I mean in a broad sense, it’s not just gender, it’s every aspect. It’s the experience of life “It’s geographic, it’s age.” Bonnie Wines, Vice Chair, Hedrick & Struggles Executive Search Firm and Co-Managing Partner of Global CEO and Board Practice

7. Grow and take advantage of your network: “Your network is important, because they are the people who know and support you and can open doors on a regular basis … and you have to be willing to take risks … I wrote about myself in the startup process Learned more than ever working in another company and in defined roles.” Laura Pagliarulo, Founding Member and President of Solarite

8. ,Understand What Your Risk Fingerprint Is…This, in turn… will help you make the choices you need to get through very, very uncertain times. That risk fingerprint is like your North Star and your anchor.” Michelle Walker, author, “You Are What You Risk: The New Science and Art of Navigating an Uncertain World.”

And, Colleen Biggs, founder and CEO of Leadup for Women, consulting and membership organization (and former corporate executive), reminds us:

,believe in yourself”, “We only have one life and you only have one chance to be… Live the life of your dreams… Find something you’re passionate about… (and) believe in yourself.”

Hear the full interview with all these women — and more — on the Electric Ladies Podcast Here, or wherever you like to listen to podcasts.

Click Here Also for timeless career advice for women at any stage from 2021 onwards.

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