Important Things That All Business Women Need To Remember
The world of work has historically not been kind to women. And while that’s changing a little more every day, we still have a long way to go. There is much of the world where women are far from wage parity with their male counterparts. In fact, the World Economic Forum estimates that it could take 100 years more to close the gender pay gap. Right now, women are still subjected to targeted harassment because of their gender. They’re asked at interviews if they intend to have a baby within the next few years (not legal). They face pregnancy discrimination on a huge scale. They have to ensure an air of casual misogyny where they are underestimated, condescended to and disrespected. What’s more, the corporate landscape is generally a suppressive work environment for everyone. Especially in the US. We live in an age of wage suppression, where corporate paymasters deliberately keep our wages low, stacking the economic deck against us to inflate their profit margins. And where are most of the profits funnelled? Into the bonus packages of the upper levels of management. Which are predominantly male, and predominantly white.
Of course, there are many women out there in the corporate world, bucking the trend and effecting change from within. These bold pioneers are doing sterling work and certainly give us hope for the future. But it’s understandable why so many women would chose to go into business for themselves rather than try and climb a career ladder that seems to lead up into a glass ceiling.
If you choose the path of entrepreneurship, you may assume that your gender puts you at a disadvantage. But this is a fallacy. In fact, lots of people out there, men and women alike, want to do business with female-led companies. There are people out there who want you to succeed. Here are some tips you’ll need to keep in mind to ensure that you do them proud...
Be true to yourself and your brand… they’re inextricably linked!
As stated above, people want to see women-led businesses. And consumers and prospective employees alike understand that these businesses have certain advantages. Women-led businesses are generally more caring, and nurturing of their customers and employees alike. They tend to have a very strong ethical focus, and that’s extremely important for a growing proportion of consumers. Especially those of the millennial generation and generation Z.
Now, more than ever, people are demanding a better form of capitalism. One that is genuinely dedicated to change, and creating a more ethical and equitable society. One product at a time. Not only are a growing number of consumers vocal advocates of this approach to business, they’re happy to pay more for it, too.
So be true to yourself and your brand. Don’t be afraid to let your personality dictate your brand’s values and build your mission statement about what matters to you. By all means, be the face of your brand. And make sure everyone on your team is on board with your vision!
Embrace technology, it could give you a leading edge
Is there anything more egregious than the persistence of stereotypes in the workplace? Among one of the most stomach-churning (not to mention grossly inaccurate) of which is that women are useless with technology. While science and technology continue to be male-dominated realms in business and academia alike, by no means does this make women technologically-illiterate.
As a tech-savvy entrepreneur, you know that embracing tomorrow’s technology today is no longer a novel approach. It’s vital in giving you a leading edge over your competitors. If you want to stay ahead of the game, these technologies could give you a headstart;
Drones- Drones have a number of exciting applications for small businesses, from making deliveries to surveying to aerial photography. Take a look at DrDrone.ca to see what drones can do for your business. Businesses love drones, and so do consumers.
AI- Artificial Intelligence is no longer the preserve of science fiction. It’s already hard at work in a number of business contexts. From chatbots that take the pressure off frontline employees to machine learning algorithms that suggest new products that customers might like based on previous purchases.
AR and VR- The age of the smartphone has democratized Augmented and Virtual Reality, and made them accessible to virtually everyone. These awesome technologies can be used to create novel retail experiences for customers and gamify the process of doing business with you.
Cherish and nurture your employees
Your vision, our ethical focus and your dedication to delivering the best for your customers are all part of what makes your business awesome. But never forget it’s your employees that are out there every day working hard to make your vision a reality. And if you don’t nurture them, it’s only a matter of time until they take their talents elsewhere. And if they go to your competitors, those talents could be used against you.
Not a nice thought, huh?
So make sure you invest in training and developing your employees throughout their careers, nit just at the point of onboarding. Make sure you give them the compensation and flexibility that they need to achieve a reasonable work / life balance. Ensure that they are encouraged to achieve their career dreams with you. Acknowledge and celebrate their achievements, and make sure that your door is always open to them if they need to talk about their problems. You could even consider getting a chaplain to come in once or twice a month if you’d rather they talk to a professional that can give them some solid advice and support. At the end of the day, the more cared for your employees are, the better your business’ chances are of achieving success. And, if they feel like you’re going the extra mile for them, they won’t hesitate to pour the same effort and care into their own work every single day.
Blaze a trail for the young girls trying to make it behind you
Finally, rightly or wrongly, fairly or unfairly, the world’s eyes are on you. As a pioneering female entrepreneur, you’re blazing a trail for the young girls trying to make it behind you. So do what you can to give them a leg up. Offer mentorship programs and internships. Help them learn by your example to achieve their dreams in the world of business. In a potentially hostile commercial landscape, you can be a friend and a guide to them! And when they make it big, it’ll all be partly thanks to you!
