The Challenges and Grit of Women Entrepreneurs
Women business owners face a unique challenge, generally not faced by men.
Women entrepreneurs should be admired not only for their passion for business but also for their ability to overcome a unique challenge that is generally not faced by men: the intricate balancing act of being a wife/partner + caregiver/mother + homemaker + entrepreneur.
Between 2014 and 2019, the number of women-owned businesses in the U.S. climbed 21% to a total of nearly 13 million, employing nearly 9.4 million people and generating $1.9 trillion in sales.
These numbers can be a lot higher if she can overcome the multitasking challenge…
Every woman has a unique biome of work and personal life balance, but it is extremely rare that these factors are in perfect unision for her to succeed as an entrepreneur. It takes a conscious decision, daily, to determine which foot she needs to put in front of the other.
She may be all set to take on her most important business call for the day, but if her child needs attention, most mothers drop everything they’re doing and prioritize motherhood.
Additionally, if she is not the dominant income earner in the family, her work schedule takes a back seat to her partner’s. After all, if the business is not making money yet, she cannot put her business needs above the home and childcare routine. Unless she has the resources or support to outsource these functions, it is not practical or viable to put business time before the other functions.
Thus, it is not surprising that many women-owned businesses fail, and the work of many female entrepreneurs goes unnoticed, not only in the eyes of an investor but also in the eyes of her own family.
We often talk about women being great at multitasking. I do not see that as a skill but rather as a survival mechanism, to juggle multiple tasks while trying to grow a business.
I am not suggesting that women who have jobs, have it any easier. The subtle difference there is that their job gives them a paycheck while the same work and dedication may or may not yield any income for the initial years of a business.
True, every business is a risk and we all know that its rewards are tied to the level of risk. For a woman, the risk has to be low because she cannot bet her home and savings on something that may end up being a pipedream.
As someone who has thoroughly enjoyed being an entrepreneur for over a decade, the monetary gains have been slow and lacking.
Between the delicate act of balancing motherhood, household, and business, the business often comes last.
Especially, when my child was young or if the household duties needed attention. As much as I enjoyed the intellectual satisfaction from my work, it took the second seat to a crying child, meal preparation, school pick-up/drop-off, or any other time-sensitive family routine.
Yes, the partners do pitch in, as and when they can, but if your business is not generating worthwhile revenue, it is a no-brainer that your business time becomes a luxury.
I left a well-paying management job to start my company and while I enjoyed every minute of the entrepreneurial journey and its challenges, I have always missed the steady paycheck.
At first, the business growth excites you and keeps you going. You even get an occasional pat on the back and compliments from friends and family. However, when things slow down and you hit the proverbial growth roadblocks, a woman entrepreneur's goals for success are looked upon with suspicion, even by the ones closest to her.
This is generally the time when she decides to cave in on her dreams and resort to a different career path.
While she may thoroughly enjoy the challenges and is fully capable and committed, the cost of doing business for a woman is completely different from men.
Her success is based on maintaining the fine balance between being an effective wife/partner + mother + homemaker and then entrepreneur.
Let’s applaud all women who have succeeded despite these odds.
We need to hear more of such success stories. The inspiration that kept them going and the pivotal moment when they cracked the success code and made it through.
Until then, let’s support all women entrepreneurs by encouraging them in their admirable endeavors of balancing multiple roles while pursuing their business goals.
With every experience, you alone are painting your own canvas, thought by thought, choice by choice.” — Oprah Winfrey
