Do women need more courage?
Do women need more courage?
I’ve been thinking about the word ‘courage’ and women and reflecting upon the courageous women in business that I know. Knowing their ‘back stories’ makes me love and honour their journeys and lives even more.
The tendency is that we look at someones success and say “lucky for them!”, but in reality their walk of success has been one of sheer hard work and the overcoming of so many barriers and discouragement.
What I have also noticed is that successful women have the guts to take a long hard look at themselves and whatever the situation is they find their ‘inner strength’ to say to themselves “if it’s going to be then it’s up to me!”.
That saying “easy-come-easy-go!” is so true, what comes easy can be let go so easy. But what has been tough to get through and to develop is cherished and protected more.
Managing cash to get past year 4 is a critical goal. By then you know what works and what doesn’t work. You get a feel for what you are good at that generates cash and what you are not so good at and need help to do.
By year 4 you have developed a tribe, a product and worked out your most profitable route to market. By year 4 you have started to take a reality check, you’ve moved from the hobby mentality to this is hard work and I need consistent discipline to make your business work. By year 4 your numbers start to make more sense, you stop hiding from the reality that your numbers ‘have’ to work or you need to give up and get a job.
Here are some interesting numbers and facts for you:
– More than 50 percent of small businesses fail in the first four years
– 82 percent of businesses that fail do so because of cash flow problems
– 27 percent of businesses claimed that they weren’t able to receive the funding they needed.
– 51 percent of owners of small businesses are 50-88 years old
– 33 percent are 35-49
– Only 16 percent are 35 years old and under.
– The leading causes of small business failure: incompetence: 46 percent; lack of managerial experience: 30 percent; neglect: 13 percent; and lack of experiences in line of goods or services: 11 percent.
– 82 percent of business startup funds came from the entrepreneur himself or herself, or family and friends.
– 77 percent of small businesses rely on personal savings for their initial funds
– Only 40 percent of small businesses are profitable, 30 percent break even and 30 percent are continually losing money.
– Having two founders, rather than one, significantly increases your odds of success as you’ll raise 30 percent more money, achieve 3X the user growth, and 19 percent less likely to scale prematurely.
In I AM WOMAN we recognise that making your business work for you and making you work for your business is essential. What’s more we help, support and guide you to equip you with what you need, we kick arse, we introduce you to courageous women who can offer you that chink of light you might be looking for to get you over your obstacles and to win in those times when you think all is lost.
I just love some of the women who are super courageous doing what they do in business and get so excited when we bring them together to celebrate their success, after all we know it’s not been a sparkly glossy journey, but one where they have had to put wellies on sometimes and dealt with some pretty mucky and uphill situations.
If you would like to join us we would just love to come along and celebrate with us 6pm Tuesday November 27th 2018 with some of the Top 100 Business Women in Wales 2018. Come and network, come and connect, come and witness the courage, the inspiration, motivation and sheer determination that took women with an idea into becoming some of best and most awesome entrepreneurs in Wales.
Here is the booking link: https://www.iamwoman.biz/top-100-business-women-in-wales-awards-2018/