The Tech Panda asked several successful businesswomen to share their valuable learning with young aspiring women in business.
A nation with a formidable female workforce and an ecosystem replete with diversity will not only result in success at a grander level but also ensure its sustainability in the future.
Read more: Women in business: Expectations from 2022
As per the International Monetary Fund’s estimate, if India were to manage to ensure equal participation of women in the labor market, then the country’s GDP would increase by 27% (Ebert, 2021). A figure worth pondering.
As India’s women business entrepreneurs march ahead forging their way through obstacles and challenges, they gather a treasure trove of valuable learning that will serve generations of businesswomen to come.
The Tech Panda asked several successful businesswomen to share their valuable learning with young aspiring women in business.
“There is no substitute for hard work. Practice, discipline, and hard work are imperative to growth. Also, with these, we continue to get better and better every day. Also, that success is not about that 100th time we delivered a knock-out performance, but all the 99 times we tried and tried without giving up.
Success is not about that 100th time we delivered a knock-out performance, but all the 99 times we tried and tried without giving up
“As they say, the stone cutter keeps hammering her rock a hundred times without even a crack showing on it, but on the 101st blow, it splits into two. It is not the last blow but all the 100 blows before.”
“I have learnt to accept that stereotypes and biases against women, especially in predominantly male-dominated sectors are very strong. I used to worry about it earlier, but over the years I have realised that there are just as many people out there who will fight for you and help you win.
Setting a good example helps break many stereotypes. A lot of the time people are not aware of their biases. Calling out biased behaviours is a good way of addressing it and creating awareness
“My advice to other women is to not be bogged down by such behaviours you find in the workplace and society at large. It helps to continue to believe in yourself and do what you believe in. Setting a good example helps break many stereotypes. A lot of the time people are not aware of their biases. Calling out biased behaviours is a good way of addressing it and creating awareness.
“Building a network of mentors (both men and women) who believe in you and wish you well is also a great way to navigate a lot of the difficult issues one faces while trying to build a business. As women, a lot of the time, we tend to ignore our own selves. It’s important to be kind to oneself and focus on our own personal well-being and health. Most importantly, while we are prepared to fight it out at every stage, sometimes it’s important to just breathe and hang in there knowing this too shall pass.”
“Make sure you are part of some incubators which help get access easily, example of how we are being incubated at WE Hub. Save on some money in case you will need to bootstrap the business for longer than expected. Data says that very few women-led businesses are able to raise seed rounds.
Do not pay much attention to you being a woman or man, the end customer only cares about your product
“Lastly, do not pay much attention to you being a woman or man, the end customer only cares about your product. Focus on product-market fit, create pull towards your business.”
“Connecting to the right mentors (as mentors play vital role in developing the business) roadmap generation, market segmentation, or market analysis like putting the right Minimum Viable Product in the market and understanding Value Proposition of the product in industry , building a strong and committed team are few of the parameters to look for while running a business.
I believe real women empowerment is women supporting women
“Empathy, presence of mind, right priorities, and a watch on future. I believe real women empowerment is women supporting women. Do not give up on your passion, do not be ashamed of asking for support, do not hesitate or hold back. I believe shattering the glass ceiling is the key.
“One piece of advice I would like to give to any entrepreneur not generalizing it to be a male or female entrepreneur is to be more confident about your idea and don’t shy away from hearing criticism as I believe it’s criticism that leads the way to success.
Be confident, set out to build your vision, have faith, do not shy away from asking for help, and most importantly – define what success and happiness mean for you
“Be confident, set out to build your vision, have faith, do not shy away from asking for help, and most importantly – define what success and happiness mean for you.”
“In my opinion, the lesson or learning that we can share with each other is to not think of ourselves as ‘women entrepreneurs’. We are people who have taken the very big decision to take on a risky bet with our careers. For anyone, starting a business on their own is daunting enough without the added pressure of being told that somehow this would be more difficult given that you are a woman.
I believe that the biggest favor we can do to ourselves is to simply stop bringing our gender into the conversation
“I believe that the biggest favor we can do to ourselves is to simply stop bringing our gender into the conversation. Everyone, be it a man or a woman, faces challenges that are unique to their surroundings, personal circumstances, and their personality. So, all we should aim for is to handle those challenges as best as possible, remain calm in the face of unforeseen problems and just take each day as it comes.”
“Over the past few years, we have realised that blockchain technology can effectively transform our finance system and this led to the creation of Oddz Finance. Additionally, we are firm believers that those building this system must represent the diversity of our population. According to Deloitte’s report, the aggregate share of women in leadership roles within financial services was 24%, projected to grow to 28% by 2030, which is still below parity. This gives us an insight into the scale we need to work and improve upon.
Continue their journey towards innovation and creativity with the aim of improving the existing systems of society
“As a woman entrepreneur, my advice to budding women entrepreneurs would be to continue their journey towards innovation and creativity with the aim of improving the existing systems of society. As web3 sector is dedicated towards inclusivity, it is our duty to ensure continued growth and elevation of the sector at a global scale.”
“Women entrepreneurs come from a place of understanding and detail. They naturally gravitate to working towards causes that level the playing field for budding women entrepreneurs. This can mean creating a network, community, and ecosystem which is women-led and women-oriented.
“I know starting up can feel daunting as there are so many ifs and hows associated with it. The challenge becomes bigger when women decide to startup. Women entrepreneurs have come a long way, but we are still struggling to give women their rightful place in the workplace.
We need to be kind and allow ourselves the freedom to make mistakes
“Having started up almost a decade ago, my top advice to all budding women entrepreneurs is to believe in themselves. We need to be kind and allow ourselves the freedom to make mistakes. Perhaps, starting up is more about grit and mental strength than it is about anything else. If you have an idea, believe in it, find the confidence and capability to execute it. Also, women tend to overlook finances and this is another aspect that more women should start to acknowledge. Building your own bank account and owning finances. Get better at pitching yourself and your product. Don’t let that inertia set in, go and get your first client, no matter big or small.”
“As an entrepreneur I have, over the years, learnt to be more self-aware. Not just of my inherent abilities but also understanding and honing skills which are critical to me as a leader, some of which are stereotypically seen as a strong hold of men – finance and budgeting for instance.
Embrace the challenges, keep believing in yourself, convey your opinions with assertion even if it means going against the expected
“This is also an advice I always give to women who want to start or have started leading their own ventures. Also, self-confidence is so important, not least in an environment or a sector which is stereotypically ‘male-dominated’. Sometimes, especially as young women, we often pull back when we really need to lean in and stand our ground. It is important to stay true to yourself, no matter what. We must remember that the narrative we tell ourselves is one that plays out in real life a well. So, embrace the challenges, keep believing in yourself, convey your opinions with assertion even if it means going against the expected.”
“Women are particularly adept at understanding consumer insights. Perhaps because of the way they are wired. Women leaders should take it upon themselves to address issues like diversity, equity, and inclusion in the workplace. Strength and agility are the two key lessons that I have learnt during my entrepreneurial journey. What I also happen to learn alongside is how to be happy with oneself and this thought process has helped me a lot.
Women leaders should take it upon themselves to address issues like diversity, equity, and inclusion in the workplace
“Increasing the share of women in entrepreneurial ventures and business leadership positions has tangible rewards that benefit not just individual women but the businesses they run. Being an entrepreneur has its own fair share of challenges, and women in business are well-equipped to meet those challenges head-on. They need to trust their decisions and not underestimate their capability. Women need to be firm, persevering, and strong to attain the success they desire. They need to be more determined to achieve their goals, professionally and personally.”
“Building Woovly has been an immense learning experience. The ever-changing needs of our customers has kept us on our toes, and we are constantly evolving and growing. Our initial hypothesis that customers would discover new brands and products online through video content than just offline has been proven several times over. Content, community, and commerce on a unified platform are here to rule.
We need more women business leaders as we bring not just our intelligence and capacity for innovation, but the spirit of cooperation, partnership, and empathy too – the key ingredients to success in the startup world today
“Women entrepreneurs have never had it easy but the opportunities getting created now haven’t existed before either. I would encourage women to take the plunge and bring their startup ideas to reality right now. We need more women business leaders as we bring not just our intelligence and capacity for innovation, but the spirit of cooperation, partnership, and empathy too – the key ingredients to success in the startup world today.”
Read more: Women in tech: Pushing against the glass ceiling
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