According to the Global Entrepreneurship Monitor (GEM), more than 126 million women entrepreneurs were either starting or were running their own businesses, found in a study from 67 world economies back in 2012. Similarly, it has also been found that the rate of self-employed women has been rising steeply so far.
Women are most likely to mention family reasons for choosing to be self-employed because entrepreneurship offers women the ease and flexibility of timings and working at their own pace. Entrepreneurship, thus, offers women a chance to explore her potential, work out towards her passion and have women empowerment. If you are fed up of working at an organization that does not offer you flexibility then being your own boss is the best solution to your problem.
Following are some useful tips that women entrepreneurs can embrace in order to have financial freedom and consequently and gain power:
- If you have detailed business plan, do not rush towards investing. Gain experience in a similar field because money does not come easy.
- Throw away your fear of failure. If you do not build your dream today, someone else will. Fear of debt, fear of failure, fear of competitors will merely debilitate what you have not yet built.
- Do not pop up with a business unless you have taken entrepreneurship training, business coaching or business management sessions from reputable and professional gurus of your field.
- Do not invest every single penny you have all at once, nor should you save all that you earn. Keep a justified proportion for retained earnings and investment.
- An entrepreneur does not take uncalculated risk. Therefore, do not jump in the well unless you know how deep the well is.
- Do not just focus on building your business but also focus on personal development. Work on public speaking, negotiation skills, leadership qualities, and management skills.