What’s the biggest difference?
Beth Schoenfeldt, a co-partner in the Ladies Who Launch networking group, says, “(We’ve) found that the No. 1 reason women launch a business is for lifestyle, meaning they want more freedom, flexibility and control.” That means, for example, they might not borrow a large amount of money and instead grow their businesses slowly and organically.
Her tips for aspiring entrepreneurs:
1. Don’t feel that you have to give it all up and leave your job. “With technology today, you can get started with very little capital investment and try it out before you jump all the way in,” says Schoenfeldt.
2. Overcome the initial fear by taking a step or two forward to build confidence. Example: One member of the Ladies Who Launch group worked for years on a business plan to start an upscale Hispanic network. Finally, other women encouraged her to plan an event that didn’t require a big budget: a baby step. That event sold out, led to something else, and now she has a thriving business.
3. Surround yourself with people who are launching a business. Join a group like Ladies Who Launch or network at local chamber of commerce events. “This allows you to be more successful,” Schoenfeldt says.
4. Start something you love doing. “Being an entrepreneur is hard, and starting a business is even harder work,” she says. “So if you love it, you are more likely to be a success.”