Female entrepreneurs encounter innumerable challenges. These challenges range from accessing funds to the psychological barriers present in the business world. Study shows that despite these challenges, the number of women in entrepreneurship has tremendously grown.
While female entrepreneurs are driven towards results, the issue of timidity still holds most back. The shyness and fear to embrace entrepreneurship and all that entails the business world have stopped many female entrepreneurs from achieving their goals. So, what causes timidity in entrepreneurship?
- Limited Knowledge
When you, as a woman, are inadequately empowered with knowledge, you will shy away from business opportunities. Times are changing, and so is information. Whatever was deemed a profitable venture may not be viewed as such in a couple of days.
Unfortunately, not all women have access to business information and emerging trends in the corporate world. Thus, inadequate knowledge translates into a high level of timidity.
- Unfavorable Business Environment for Women
Entrepreneurship has remained a field for men for many years, and they own most businesses. Women hence find themselves facing harder conditions in setting and running their ventures. For example, funding for women-led businesses tends to be harder than for those led by men.
This is because of the conditions set by lenders, such as collateral. Such issues largely contribute to timidity amongst female entrepreneurs for fear that their projects may not be taken seriously and that they may lack the funds needed.
- Past Failures in Business
This largely undermines the confidence of any entrepreneur. Becoming a successful entrepreneur is often filled with numerous potholes and unseen detours. This demoralizes many female entrepreneurs for fear that any business deal they commit to may turn out like the previous one. As long as entrepreneurs still have past failure glued in them, they will remain timid in carrying out their operations.
How to overcome timidity
Above are the major reasons that bring about timidity in female entrepreneurs. How can you overcome them and become successful in your business?
- Set Clear Goals- Setting clear goals calls you to be realistic with yourself. Moreover, there is something about structuring down your goals that keeps you moving. The need to accomplish your goals and dreams will keep you fueled up. Knowing what you want to accomplish is already a great way to conquer timidity.
- Network More- Networking is a great way to reduce shyness and timidity, not to mention, build confidence. Surround yourself with people who can help you by attending business events and forums more often. Also, it would be helpful if you sought fellow women in business. Having a female in entrepreneurship as a mentor will go a long way in enabling you to conquer your fears. Smart women inspire other women, thus making it easier to climb the corporate ladder.
- Learn From Your Mistakes and Accomplishments- Your past failures should not be a reason for unfulfilled goals. Do not be so hard on yourself that you only look at yourself as a failure. Acknowledge that you are human hence prone to mistakes. Most female entrepreneurs end up downplaying their achievements instead of embracing them. By acknowledging your successes, you give people a chance to know the milestones you have made. Additionally, it will increase your confidence and remind you of the obstacles and challenges you encounter.
Don’t let timidity stop you from venturing into business
Accomplishing your dream and claiming your place in the corporate world requires confidence. Cultivate it by owning your accomplishments and letting them motivate you. It is also essential that you take lessons from your past failures. Set clear goals and take steps towards their achievement.
Sources: frontiersin, frontiersin, allresearchjournal, entrepreneur, news24, deccanherald