“Not every entrepreneur starts out with an equal chance of success… People feel like the system is rigged against them. And here is the painful part… they’re right! The system is rigged”. ~Elizabeth Warren
The odds are stacked against most entrepreneurs trying to build a successful business.
Sadly, it’s even worse for female entrepreneurs…
Why?
The reality is that women don’t have a fair shot of becoming successful entrepreneurs. We’re not competing at a level playing field.
Let’s face it…
The system is rigged… And it’s rigged against us.
But, in spite of all that…
Female entrepreneurs are incredibly resourceful and creative.
When it comes to growing a successful business in order to build a better life and a better future for our loved ones… most women seemingly have superhuman powers.
We’re tough…. We’re fighters.… We’re unstoppable.
The reality is that women don’t have a fair shot of becoming successful entrepreneurs. We’re not competing at a level playing field. The system is rigged against female entrepreneurs building a successful business. You’re in danger of getting left behind… unless you’re marketing smarter than your competition.
The Multi-Trillion Dollar Women’s Market Is the BIGGEST Marketing Opportunity In Today’s Economy
This is shocking, but it’s true…
Women are the most powerful drivers of the world economy.
Women control 85% of ALL consumer purchases. For example, we buy more cars, homes, food, computers and electronics as well as insurance and travel services. We make over 80% of healthcare decisions (Yankelovich Monitor, M2W Conference).
In the United States, women control $6.4 trillion in consumer spending. Globally, women control about $31.8 trillion in annual consumer spending (MarketPro: World Data Lab, 2020).
The growth market represented by women is bigger than China and India COMBINED, according to Harvard Business Review: The Female Economy (2009).
Awesome… right?
But, here’s the problem…
Even though women are the most powerful driving force of the global economy, men still drive most business decisions worldwide.
In the United States, 40% of businesses (12.3 million) are owned by women (Fundera, 2021). Globally, 34% of businesses are owned by women; there are 400 million female entrepreneurs worldwide (The World Bank Gender Data Portal: Enterprise Surveys).
Women occupy only 10% of top management positions in S&P 1500 companies, according to data from Pew Research Center: “Women Scarce At the Top of U.S. Business — and In the Jobs That Lead There” (2018).
Since men own 60% of businesses and they occupy 90% of top management positions in the United States… they control most of the decisions about products and services purchased by women.
This doesn’t make any sense… and this needs to change.
What can we do to make a difference?
We can’t just wait for government programs to be created for women in business…
Instead, we need to create products and services that can help them build successful businesses.
It would be foolish NOT to support female entrepreneurs…
If they continue to have a high failure rate, the resulting gender-based business gap is not just going to hurt women and their families… it’s also going to cost billions in economic growth in America and trillions world-wide.
TWO Common Barriers for Female Entrepreneurs Building a Successful Business
Building a business is not for the faint-hearted…
As a female entrepreneur, you need to be able to overcome these TWO common barriers to becoming successful.
#1. Most women are growing their businesses while juggling so many responsibilities. They’re often stressed out, time-starved and resource-challenged.
In addition to running their businesses, most women have multiple roles as a wife, girlfriend or partner taking care of their families and other relationships. Some are mothers caring for children and caring for aging parents as well as sick, disabled or troubled loved ones.
If you’re a single or divorced mom, you have an even tougher situation if you do not have a very supportive partner, ex-husband or ex-partner. You often have to deal with family issues alone… in addition to your business.
If you’re like most female entrepreneurs, you probably also have a part-time or full-time job while you’re building your business.
You’re probably super-busy and dealing with a lot of stress because you’re overloaded with so many responsibilities.
Working hard is not enough…
The big lie about working hard to grow a successful business kills a lot of businesses and ends up ruining the lives of many entrepreneurs.
Instead, you need to work smarter. If not, you’re never going to make it.
#2. Despite their enormous contribution to the economy, it’s usually hard for women to get funding for their businesses.
Companies founded by women received only 2.2% of total venture capital funding. In contrast, male founders raised about 79% of total venture capital funding, according to Kauffman Foundation’s report on “Access to Capital for Entrepreneurs: Removing Barriers” (2019).
How is this possible?
A big reason for this is the venture capital (VC) industry being dominated by white males. In 2018, 80% of VC investment partners were white, 15% were Asian, 3% were Black and 3% were Latinx. VC partners were 86% male and 14% female.
Studies have shown that investors are more likely to partner with entrepreneurs that share their race or gender.
Women entrepreneurs usually ask for and receive less business financing than men, according to Fundera’s report on the “State of Small Business Lending: Spotlight on Women Entrepreneurs” (2017).
Women are 50% less likely to get approved for a business loan (SBA Office of Advocacy).
Overcoming Barriers to Success for Female Entrepreneurs: How to Level the Playing Field and Build a Successful Business
The system is rigged. You’re in danger of getting left behind… unless you’re marketing smarter than your competition.
Step 1. Apply the 80/20 Rule for Marketing and STOP Wasting Your Time On INEFFECTIVE Marketing Strategies That Fail to Get Results. So, You Can Work Less and Make More.
By taking massive action on 20% of marketing strategies that can generate 80% of your sales and profits, you can focus on the best use of your time, money and resources. Instead of feeling overwhelmed trying to do everything, you can just focus on the most essential marketing strategies that can catapult your business to success.
By applying the 80/20 Rule or Pareto’s Principle to your business marketing, you can limit yourself to the MOST ESSENTIAL marketing strategies.
Complicated Marketing = USELESS
Why not stack the odds in favor… and increase your chances of success?
You can focus on 20% of marketing strategies that can generate 80% of your results. So, you can avoid wasting a lot of time, money and resources. Instead, you can make more and work less.
How to Apply the 80/20 Rule to Your Business Marketing
Here’s a brief background…
The 80/20 Rule is based on an observation by an Italian economist, Vilfredo Pareto (1848-1923). He made the observation that 20% of the people of Italy owned 80% of its wealth.
Since Pareto’s time, other studies have also shown that in other areas of life, 80% of results are generated by 20% of activities. The 80/20 Rule also applies to business marketing.
A huge advantage of applying the 80/20 Rule is that you can avoid wasting a lot of time and money by NOT doing 80% of the marketing activities that will only generate 20% of your results.
This makes it a lot easier for you to focus on the few essential activities that can generate the bulk of your income…
By taking massive action on 20% of marketing strategies that can generate 80% of your sales and profits, you can focus on the best use of your time, money and resources.
Instead of feeling overwhelmed trying to do everything, you can just focus on the most essential marketing strategies that can catapult your business to success.
Step 2. START Using the Power of Leverage to MAXIMIZE Your Sales and Profits
If you don’t have an effective way to generate sales and profits CONSISTENTLY, your business is doomed to failure…
The best kept secret of successful entrepreneurs is leverage. It’s the difference between a struggling and successful business.
Leverage is about focusing your time, money and resources on what can make the biggest impact on your business.
Effective marketing can offer the biggest leverage in any business…
Even a small improvement in marketing can have a MULTIPLYING effect on your sales and profits.
Effective marketing pays you. When you implement an automated marketing system working for your business, you’re putting into action a RELIABLE and REPEATABLE process that pays for itself. So, it’s FREE. It also brings in a steady stream of sales and profits day after day… month after month.
When you put into action an automated marketing system that generates sales and profits for your business, you’re applying the 80/20 Rule. This enables you to be laser-focused on 20% of marketing activities that can generate 80% of your results.
If you don’t have a way of generating revenue consistently… your business will end up running out of money and fail.
If you’re like most female entrepreneurs, you’re likely to get less venture capital funding and financing. So, it’s crucial for you to have an automated marketing system in order to build a successful business.
Automated Marketing System = Revenue Engine
Every business needs an automated marketing system. It’s a RELIABLE and REPEATABLE process for getting clients, patients or customers.
Every business needs a revenue engine. It’s a RELIABLE and REPEATABLE process for turning $1 into more dollars.
If you don’t have a revenue engine working for your business, lack of funds can mean the difference between going big and going broke.
If you have a reliable revenue engine, you can have a powerful business growth accelerator.
Did you know?
ONE profitable marketing system can transform your business…
Once you have even just a SINGLE marketing process bringing you more sales and profits every day… your business and your life can change dramatically.
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