In the rapidly evolving landscape of entrepreneurship, women have emerged as powerful agents of change, yet when it comes to money they seem to still have a long way to go. As women navigate the realm of business, they bring unique perspectives and experiences to the table. However their relationship with money is often a complex one, making it more challenging for them to create a thriving business.
In this blog post, I will explore how in my experience female entrepreneurs feel about money, touching upon their sense of accomplishment, awareness, comfort with asking for money, and selling services. In addition, I will give some suggestions to create a more powerful money mindset.
Sense of Accomplishment For female entrepreneurs, achieving financial success goes beyond monetary gains. It signifies a profound sense of accomplishment and empowerment. Breaking through societal barriers, they celebrate each milestone as a testament to their resilience and determination. Financial independence becomes a symbol of their unwavering commitment to their vision, inspiring them to push boundaries and reach new heights. The sense of accomplishment derived from financial success fuels their motivation, opening doors for themselves and other aspiring female entrepreneurs. This is all wonderful and feels aligned with doing good for the greater community on the long haul.
Awareness and Financial Literacy Female entrepreneurs recognize the importance of financial awareness and strive to cultivate robust financial literacy. Although this is typically not part of their upbringing, if they want to succeed in their business and pass beyond the hobby phase, they must develop these skills fast. They understand the significance of managing cash flow, tracking expenses, and making informed investment decisions. Many actively seek opportunities to enhance their financial knowledge, attending workshops, joining communities, and looking for the support of business coaches. This awareness empowers them to make sound financial choices and build sustainable businesses, ensuring long-term growth and stability. Interestingly enough, once women dive into these topics, they become masters at them and do much better than men. If you feel financially illiterate, start small now: read an article, seek for professional help. It will pay off fast!
Asking for Money One challenge that female entrepreneurs often face is asking for money. Cultural norms and societal expectations can create huge hurdles, leading to hesitancy in negotiating and setting fair prices for their products or services. However, as the entrepreneurial landscape evolves, more women are embracing the art of self-advocacy. They recognize their worth, articulate more confidently the value they bring, and negotiate on prices graciously. This is not easy to master, but by overcoming the discomfort surrounding asking for money, female entrepreneurs are starting to reshape the narrative and are creating opportunities for themselves and future generations. I am hopeful that with a little bit of help, women will become more confident in asking for money, especially women entrepreneurs.
Selling Services and Value Female entrepreneurs are very aware that selling services is not just about making money. It's about providing value. They prioritize building genuine connections with their clients, listening carefully, understanding their needs, and crafting tailored solutions. By delivering exceptional service and exceeding expectations, they establish trust and loyalty on the long run. This customer-centric approach not only drives business growth but also reinforces their belief in the transformative power of their offerings. This is the key to feeling at ease selling their services.
It’s not just about providing value for their costumers, but also about providing cash flow to their loved ones. Because as women, we don’t feel comfortable asking money for ourselves, but we are masters in asking for money for a bigger cause. Let that bigger cause be your company, both your business and the people that surround you in your private life. It’s really okay to be rewarded in monetary form for your work, even when you do it out of passion. Or let me rephrase that: it’s okay to be well rewarded for your efforts, especially when you do it out of passion for the highest good!
The journey of female entrepreneurs and their relationship with money is one of perseverance, empowerment, and growth. It’s important to celebrate each financial milestone as a testament to your resilience and determination, while actively pursuing financial literacy to make informed decisions. By overcoming the hesitancy to ask for money, we are reshaping societal norms and advocating for fair compensation. Through prioritizing value and building strong relationships, we are creating sustainable businesses while inspiring a new generation of women to embrace entrepreneurship.
How is your relationship with money? Is there something about it blocking you in your business success?