Women entrepreneurs continue to make significant progress in various industries. According to Luisa Zhou, women-owned businesses have grown by 114% in the last two decades. To sustain and accelerate this momentum even further, there are some potential strategies and advice that could help.
Collaboration and partnerships can be invaluable for women entrepreneurs. According to a study by McKinsey, companies that collaborate with partners to expand their customer base achieve an average revenue growth rate of 5.4%. By working together with other businesses or organizations, entrepreneurs can leverage each other's strengths, resources, and networks. Look for opportunities to collaborate on projects, co-create products or services, or even share resources like office space or equipment. Building strong partnerships can help access new markets, reach more customers, and grow businesses more quickly and sustainably.
Finding the right community and networking can be crucial steps in advancing one's business and career. Attending networking events, mentorship programs, and online forums can be highly beneficial. Businesswire.com reports that more than 80% of professional women at the manager level and above utilize networking to advance their careers, including joining boards (90%), breaking into the C-suite (84%), and securing new jobs with better pay (81%). Connecting with individuals who possess significant business experience, especially those who have run their own companies, is an excellent way to seek advice and support.
Research is another vital aspect in promoting the growth and success of women entrepreneurs. According to investopedia.com, 20% of startups fail due to a lack of research. Conducting thorough research to identify potential barriers, best practices, and emerging opportunities can help in making informed decisions and implementing effective strategies.
Failure is an inevitable part of an entrepreneur's journey. One can continue to grow by experimenting, trying, and failing. Failure should not be viewed as the end but as a stepping stone to success. It is important to embrace failures as valuable learning experiences and use them to inform future decisions and actions. Reflect on what went wrong, what could have been done differently, and how to apply those lessons moving forward.
As we look to sustain and accelerate the momentum of women entrepreneurs, it's essential to leverage strategies such as finding the right community and networking, conducting thorough research, fostering collaboration and partnerships, and embracing failures as learning opportunities.
We invite you to RSVP for the upcoming CEO Club event taking place on February 21, 2024. This event is an excellent chance for you to network with industry experts and find the right community to support your entrepreneurial journey. You will gain valuable insights that will help you take your business to the next level. Don't miss this opportunity to connect with like-minded professionals. To secure your spot, please click the link below to secure your spot today.
RSVP for the event online at:
https://integrobank-20681670.hs-sites.com/ceo-club-feb-21-2024
The When & Where
DATE: February 21, 2024
TIME: 5:00 PM - 7:00 PM
LOCATION: Integro Bank Headquarters
16215 N 28th Ave, Phoenix, AZ 85053