5 Female Entrepreneur Musts in the New World of Funding and Financing
Recently, I was introduced to the dynamic female millennial founders of VCNetwork.co, Jenny Ta and Shinta Dhanuwardoyo! They built a platform that connects over 300 venture capital organizations with entrepreneurs globally. How cool is that?
The best part is that founder and millionnaire Jenny has vowed to personally fund up to 500K per year to startups who submit their business plans through the platform! That’s huge!
Before you go and submit your business plan to VCNetworks.co, read through Jenny’s and Shinta’s five female entrepreneurs musts in the new world of funding and financing.
- Think Globally: The Internet and social media have changed everything about the way we connect with people, significantly accelerating the pace of traditional “word-of-mouth” marketing. Today’s female entrepreneurs should fully embrace this modern approach for conducting their businesses, using it to spread their influence globally. The only way any business can fulfill its greatest potential in the modern marketplace is to think globally.The world is getting smaller and smaller thanks to modern communication methods, making it easier to connect and conduct business. This accessibility is also making the modern world of funding and financing new businesses grow larger and larger. Instead of the traditional method where, for example, a female entrepreneur setting up a local business in Los Angeles, CA, would be confined to seeking funding and financing locally — or at most within North America — by thinking globally, she can easily tap into a much larger pool of wealth. According to the World Wealth Report, by the end of 2015 North America ‘s total wealth stood at $16.23 trillion, whereas global wealth had hit $56.4 trillion, a value that is expected to rise to $70.5 trillion by 2017.
- Conviction: A female entrepreneur must inherently have conviction on how her idea serves a greater purpose. This drives her forward, faster than any other entrepreneurs who second-guess their own moves. A female entrepreneur with this drive will attract interest from those with a similar way of thinking and living. Additionally, with the borderless digital world, support now has no boundaries. Female entrepreneurs can be connected to global funding faster than ever before.
- Overcome Cultural Barriers: One of the most important factors for any female entrepreneur to consider when seeking investors to fund or finance her business is that while building relationships is key, the nature of this strategy has changed. In the new world of global funding and financing, relationships are no longer built on that simple handshake or in-person meeting at a local restaurant. Today, it would more likely be that first phone call to a potential investor in another country with a completely different culture. Female entrepreneurs should not only be open-minded when it comes to cultural differences, but they should do their best to overcome cultural barriers by increasing adaptability, embracing diversity, and becoming comfortable with a variety of viewpoints. Diversity involves not only the way people perceive themselves, but also the way they perceive others of a different culture or race. By recognizing the benefits of overcoming cultural barriers, female entrepreneurs can make it easier to build vital relationships with investors around the world.
- Sincerity: Rome wasn’t built in a day, and neither will be the next great venture from any female entrepreneur. It is an accumulation of small success or failure that evolves into a great venture over time. Savvy female entrepreneurs should embrace this journey with sincerity and full awareness that her road to success is not all gold.Crafting a brand story will enable the new world of funding to better understand the entrepreneur’s motivations, development, and progress. A sincere story creates dialog and participation that matters in the globally-connected-world, where noise and novelties often drown out greater business ideas.
- Be Tech Savvy: Being tech-savvy means much more than booting up a computer or sending a text message by cell phone. It involves thinking about storing data in the Cloud to make it accessible to anyone, at anytime, from anywhere. According to one e-mail statistics report, by 2017, 2.3 million people will access e-mail using their mobile device. Currently 68 percent of U.K. smartphone owners use their mobile devices to check e-mails, while in the U.S. the number stands at 75 percent. To be successful globally, it is imperative that female entrepreneurs in search of funding or financing embrace technology by consistently utilizing mobile devices to communicate and maintain their relationship with international investors. The global financing trend will not slow down anytime soon, and female entrepreneurs who fail to take advantage of the latest technological advancements will only limit their own ability to move toward global growth.
About Author: Lolita is a wife and a millennial who loves food, travel and tech. She is a sales tech intrapreneur by trade and a social entrepreneur by nature. Lolita produces, speaks, and writes, at times. She lives in sunny San Diego with her husband.
Follow Lolita Taub on Twitter: www.twitter.com/LolitaTaub
Originally published at www.huffingtonpost.com.