Why Women Entrepreneurs Need To Create A Supporting Network?

2/21/2019 John Evans 0 Comments

Entrepreneurs are known risk takers, with risk mitigation and management being a crucial component of a business plan. One way entrepreneurs can manage risk is by creating a supporting network that provides feedback and guidance whenever needed.
Networking is essential for entrepreneurs, especially for women entrepreneurs starting out in the game. It helps them elevate their aspirations as they are new to the business world. And as far as we know, neither successful women or male entrepreneurs singlehandedly handle every aspect of their company.

Find an appropriate role model

Often, women look up to other women as role models. For instance, it can be Mia Hamm inspiring girls to play soccer or Sheryl Sandberg encouraging women to lean in. Even fictional role models play a significant part in influencing women entrepreneurs. There are women featured as lawyers and doctors in TV shows such as ‘LA Law’ and ‘ER’, inspiring a bunch of women entering those respective fields.

Some Sources of Inspiration

· Bizwomen – They feature stories of successful and professional women entrepreneurs in 43 markets that The Business Journals are in.
· Broadmic – They highlight some unique accomplishments of women entrepreneurs, investors and leaders which may inspire the future generations of female leaders.
· Broadsheet from Fortune – They post daily stories about strong and successful female role models from different backgrounds.
· Female Entrepreneurs – They have information and advice from female founders and investors.
· [email protected] – Featuring stories about women starting a new venture, switching careers and sharing their success and failure stories with everyone.
· Lioness – It is an online magazine covering stories of women-led new ventures in marketing, capital, tech and more.
· Women 2.0 – They share stories about successful women in technological fields, regardless of whether they work in a corporate setting or have their own venture.
· Women Entrepreneurs – It’s a women’s business channel from

Establish Better Connectivity

Businesses with a larger and more diverse network grow faster and bigger. Although most women entrepreneurs possess communication and collaboration skills, excelling at building powerful networks that could help fuel their endeavours is a skill that many entrepreneurs struggle with.
For instance, despite the fact that alternative finance companies would easily agree giving out small business loans to female-led companies, women entrepreneurs tend to stick to traditional ways of securing funds. If you are confused about the kind of services these alternative finance companies offer, you can find out more about them by getting in touch with a suitable lender.
To stumble upon a big opportunity, women entrepreneurs need to build a wider network. You can join business associations, but choose ones that possess these four characteristics:
1. People with resources, information and expertise. Also the ones who are willing to share them.
2. Strong and influential people
3. Professionals in communication and member interaction
4. Have substantive support for your business challenges

Get Social

As we all know, many women dominate social media platforms for personal use. But both female and male entrepreneurs need to become omnipresent on social media for business purposes as well. In today’s era, social media platforms are a great way to reach out to a huge audience and connect with like-minded individuals, eventually helping build a stronger network.
One of the most popular and business-centric social media sites is LinkedIn. It helps people connect with like-minded individuals and can help women find other women entrepreneurs in the industry. Join groups (local or global) sharing similar interests and visions like that of yours. You can also look for general and niche groups and join the ones applicable to you.
You will come across other women entrepreneurs who have the same issues and are facing similar challenges, and thus help one another overcome them. A casual networking channel can lead to something more formal in-person connections in the near future.

Don’t Exclude Men

As you are working towards building a strong female support network, don’t forget about the men who have achieved the same. Whilst times are changing and women are well on their way to catching up, it is often said that the business world is a male dominated field.
Hence, they can provide you with some valuable and alternative perceptions. They play a crucial role in helping women grow their networks, earn profits, have more vendors and employees - eventually helping them grow their business.