Women's Business Blog

3 Reasons Women Win At Small Business

Posted by Vicki Donlan on Mon, Jun 18, 2012 @ 07:06 AM

Men and women start businesses and buy small businesses. But, most often, the reasons that get into business in the first place is completely different.

First, women tend to launch businesses doing something that they love where men start because they believe they have found something they can make money at. All small businesses require exhaustive hours of thankless and no monetary return work long before customers are ready to buy, so loving what you do helps women win the race.

women win at businessSecond, women have been told so often that they don't know what they are doing they are more likely to start a business doing something they have received praise for over and over again. Some examples of this are: all types of food businesses (including retaurants, homemade foods etc.), crafts and homemade goods, websites and media focused on family needs, hair and nail salons, flower shops, child care and interior design. Yes, being told they rule at doing something provides many women the confidence they need to start a small business and begin getting paid for what they would have done for free.

Third, women are more likely to put a reasonable business plan in place and continue with their full time job until enough money is coming in to replace their needed income. Of course, working a full time job and starting a part time business on the side is not easy, but women already know that getting what they want is never easy. Starting slow and building gradually is not disenchanting for most women.

I have worked with women who have built a small business over time, depositing anywhere from $10,000 to $100,000 a year into their savings account, while continuing in their full time jobs. Some may see this behavior and say it demonstrates women are risk averse - in other words, wanting to avoid the risk of small business unless adequately compensated for it - but, in my experience, many women do this because they have a brilliant understanding of how hard it is to grow a small business and they won't put their families at risk until the business succeeds.

So if you have been told over and over again how good you are at doing something and you love doing it - ask yourself if there is a small business model waiting for you. And, if you need help getting started email me vicki@vickidonlan.com

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Topics: entrepreneur, small business, woman ceo entrepreneur