Top 5 Struggles Women Entrepreneurs Face – and How to Fix Them

Women's Financial Learning Centre

Women entrepreneurs are struggling to succeed – and that’s a fact.

They’re struggling to start their business. They’re struggling to gain respect and credibility. They’re struggling with the ups and downs of making money. They’re struggling to create that elusive work-life balance they want so badly.

It doesn’t have to be that way.

You can start that business and make it thrive. You can get the respect and credibility you want – and be proud of the business you own. It’s entirely possible to create a work-life balance that you build according to your schedule, on your terms.

First, you have to know what you’re facing – and how to fix it. Below are some of the most common struggles that women entrepreneurs face, and easy ways you can turn each one into success.

Struggle #1: Getting Respect

It’s difficult for many women to go after the respect they deserve – and even harder for them to find the right way to stay true to themselves while getting traction in a male-dominated business world.

One often-overlooked but easy way to foster respect when talking business with others is to empower yourself with financial knowledge.  On average, women entrepreneurs have less financial knowledge than men, so by arming yourself in this area, you stand out as an equal – a smart, capable one who knows where she’s going.

You’ll also feel more confident in being yourself while talking to others. You won’t feel hesitant or unsure about discussing business, and you’ll be able to stay true to yourself every step of the way.

Struggle #2: Stress and Overwhelm

Many women start a business and dive in wholeheartedly… but they often don’t have enough skills or knowledge to do everything and be everything their business needs. This creates stress and uncertainty, which can pile up over time into overwhelm.

The solution? Learn – properly, with focused dedication. Make a commitment to take a short course or program that directly relates to something your business needs. You’ll be able to pile on knowledge and new skills that sweep away overwhelm and leave you feeling strong and capable.

You’ll also free up precious time. Your new skills will let you tackle once-difficult tasks faster, with more confidence, and you’ll be able to spend more time relaxing with friends and family.

Struggle #3:  Lack of a Game Plan

Owning a business can often make you feel like you’re running around, putting out fires as they crop up. You know you’re working hard every day, and you feel like you should be getting somewhere, but it never feels like you are… and you’re not even sure where you’re trying to get in the first place.

Then someone asks you the dreaded question: “Where do you see yourself in 5 years?”

In 5 years? You’re just trying to get through this month!

One savvy way to sort all this out is to get a game plan built on financial goals.  By determining where you truly want to be, financially, you can start making decisions in the here and now that move you forward in a much more focused way.

As an added bonus, you’ll know which fires to tackle and which to let burn.  You’ll also be able to make better decisions on which projects to work on and which to let go… and you’ll know exactly what to answer when someone asks that 5-year question.

Struggle #4: Fear of Costly Mistakes

Everyone makes mistakes. In business, though, mistakes can cost you a ton of hard-earned money… and that can hurt a lot when you’re already struggling with cash flow.

Worse, since women are hardwired to seek safety and security, they often default to hesitation or inaction versus taking business risks, fearing they might make a mistake. That hesitation can prevent growth… or worse, create a situation where your business gets smaller and smaller until it dies.

So what’s a woman to do?  Learn smart strategies and tactics that let you run business decisions through a set of guidelines, like a litmus test.  For example, the Money Map Coaching program teaches you an easy framework that helps you make financial decisions with much more confidence – and zero hesitation.

Even better, being able to test your decisions helps your business confidence grow in leaps and bounds. You’ll be able to sweep away uncertainty and quickly choose the best path for you.

Struggle #5: Feeling Alone

Many, many women entrepreneurs feel like there’s no one who understands what they’re going through or who can help when they need it – and that’s a terrible way to feel.  Negative thoughts build up in your head and discouragement sets in, preventing you from moving forward.

No one can start and run a business entirely on their own – and no one should.

Join a program, mastermind, or group that provides you with mentors and peers who can inspire you, support you, and hit you with reality checks on your capabilities when you’re feeling down.

While you may feel a little unsure about your place in the group at first, you’ll quickly get to know others and feel surrounded by supportive, encouraging people.

A tip: Look for programs or groups that focus on an area of business where you feel most unsure. You’ll be able to learn from and grow with like-minded women who understand what you’re going through and who can provide advice and guidance!

‘Bonus Struggle’: Work-life Balance

Many women go into business because they want to create a career on their terms, according to their schedule. They also want to tap into a sense of fulfillment and feel valuable, like they’re making a difference in the world while enjoying more freedom.

For many, though, it doesn’t take long before that work-life balance dream seems like an elusive joke.  They’re working so hard they barely have any time off at all, and when they do, all they think about is their business!

Work-life balance isn’t a dream. It’s entirely within your reach, and you can achieve it.

How? By taking a step back, and taking the time to create a solid financial plan that will take you from where you are now to where you want to be.

It might sound strange: What does money have to do with work-life balance?  Think about it, though: Money isn’t everything, but it sure does make life a lot easier!

By creating a smart financial plan that focuses on your goals, you can smooth out the craziness in your business.  You can even out your cash flow to create stability, free up time by planning actions that move you closer towards your goals, and exhausting yourself because you’ll know exactly what you have to do, and why you’re doing it.

The tips and strategies outlined in this article are easy to implement, and anyone can do them – yes, even you, no matter how much you’re struggling right now.

And we want to help.

That’s why we created the Money Map Coaching Program. Designed by women entrepreneurs specifically for women entrepreneurs, you’ll learn valuable knowledge that helps you ease the struggles and get back on a path to success.

It’s an interactive program that includes the Money Map guide and 4 live sessions with Karin Mizgala, founder of the Women’s Financial Learning Center. The program provides you with:

  • Mentorship, support, and encouragement that helps inspire you
  • Training on managing money so you make better business decisions
  • Valuable knowledge that creates cash-flow stability with a good game plan
  • Increased confidence that lets you talk about your business with pride
  • Learning about your relationship with money so you can do business and stay true to your values

…and so much more.

Space in the program is limited, so take a look at everything the program offers now.

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