4 Challenges Encountered By Women Internet Entrepreneurs and How to Overcome.
People will tell you that the internet has made entrepreneurship easier for you than ever before. Ecommerce, Blogging, eBay, Internet Marketing, Affiliate Marketing; Today you are spoilt for choice.
But the reality is different. Whether your new business is a blog or an ecommerce site when that day comes that you cut the strings from the security of a 9-5 job you may feel like a child with no parents; you are totally on your own and your future in an online business can never be accurately predicted.
As a woman entrepreneur your path and the hurdles that you encounter in the online world are often different than those faced by men. Being prepared for these challenges will provide a firmer foundation for your business, and it will increase the likelihood of your survival in a turbulent environment.
- Emotions, Reality and the Feasibility Check
Every business begins with an idea and the moment an idea is born is exciting. However, not all ideas are viable no matter how ingenious the idea might appear from the outside. It is imperative that every new idea is put through the rigors of an intensive feasibility study. Many new online businesses skip this pivotal step, and the consequences result in business failure. Behind the “amazing” and “awesome” emotions of starting a new blog, and having tens of thousands of loyal subscribers, all ready to buy your new hot product, must be a reality check. The fact that other bloggers achieved great results in a certain niche, does not guarantee that you will in the exact same niche. Markets change.
A feasibility study involves the collection and assimilation of data related to a market, product and competition. Use that to evaluate the business idea, and determine whether your expectations are realistic.
- Lack of Guidance
As a new business owner you are essentially a novice. You will often find yourself in uncharted territory without a compass or map to direct you. This is where the experience and wisdom of an “old hand” can offer invaluable guidance. The need for every online entrepreneur to find and establish a relationship with a knowledgeable mentor is paramount. The counsel and knowledge that can be transferred to you from a mentor can help propel your business over the many obstacles faced, and it will equip you with a resource that will inject further impetus into your business.
- The Prejudices of Others
Unfortunately the ancient belief that a woman’s place is in the home still exists amongst certain “old school” individuals. These beliefs are harboured by many men and it results in certain discriminatory insults being hurled toward you as a woman entrepreneur. Try saying to an older male boss that you are quitting your 9-5 job in order to dedicate yourself in your blog business; He’ll tell you that you are out of your mind. Most likely, he does not even know what a blog is. When a woman entrepreneur encounters negative remarks it often leaves her feeling intimidated and inferior. You should never allow these remarks to cause you to quit, but you should rather use them as an incentive to succeed.
- Taking On More Than You Can Handle
All human beings have physical and mental limits. It is common for a new business owner to commit to tasks that are beyond their physical and mental capabilities. The exhilaration of starting a new business is the catalyst that drives you into believing you can take on the world. But this approach can lead to a loss in focus, and burn-out. As a woman you often have responsibilities beyond your business, and managing your time efficiently is imperative. You may have a family, kids, a relationship, and other commitments. The ability to delegate certain business tasks and outsource non-critical projects from the outset will lighten the burden on you.
Ignoring these challenges may have a devastating affect on the future of your business. In order for you to experience prolonged success in your business you will need to take cognizance of these potential errors and prepare yourself accordingly.