For women starting a business, the question often arises: Are there dedicated women’s business coach tailored to address women’s unique challenges and aspirations in the corporate world? What are the potential impacts and how can they play a pivotal role in empowering female entrepreneurs?
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According to the Global Entrepreneurship Monitor, women entrepreneurs face greater challenges related to family commitments compared to men. In a survey across 49 countries, 18% of women left their businesses due to personal and family reasons, while only 12.6% of men did. The pandemic in 2020 was cited by 20% of female founders for business closures, compared to 16.4% of men. Notably, women, often owning smaller businesses, were more affected and family-related reasons led to higher exit rates for women, particularly in North America, Asia-Pacific, and Latin America. Income levels also influenced the impact, with pandemic-related exits being lowest in high-income brackets. Common reasons for both genders included profitability and financing issues. Men were more likely to exit for another opportunity, especially in middle and high-income countries.
How can we help female entrepreneurs?
Supporting female business owners involves addressing specific challenges they may face and creating an environment conducive to their success. Here are some ways to help female entrepreneurs:
Access to Funding and Resources:
- Facilitate easier access to funding and investment opportunities for women-led businesses.
- Establish mentorship programs connecting experienced female entrepreneurs with those just starting.
- Foster networking events and communities specifically for women in business.
- Encourage participation in industry conferences and seminars to expand their professional connections.
Education and Training:
- Provide educational programs and workshops tailored to the needs of female entrepreneurs, covering business management, finance, and leadership skills.
- Support initiatives that promote continuous learning and skill development.
Flexible Work Arrangements:
- Advocate for flexible work arrangements to accommodate the unique challenges women may face, especially those related to family commitments.
- Promote a culture of work-life balance within the business community.
Promoting Visibility and Recognition:
- Celebrate the achievements of female entrepreneurs through awards and recognition programs.
- Encourage media coverage that highlights success stories of women in business.
Addressing Gender Bias:
- Raise awareness about gender bias in the business world and work towards eliminating stereotypes.
- Encourage fair and unbiased treatment in all aspects of business, from hiring to promotions.
Providing Childcare Support:
- Offer childcare support services or facilities to help alleviate the challenges faced by women balancing business and family responsibilities.
- Advocate for policies that promote gender equality in the business sector, including support for women-owned businesses in government procurement.
- Encourage policies that address maternity leave and family-friendly work environments.
Technology and Innovation:
- Encourage the integration of technology to streamline processes and make it easier for women to manage their businesses efficiently.
- Establish a supportive community where female entrepreneurs can share experiences, seek advice, and collaborate.
By addressing these aspects, we can create an environment that empowers female business owners, allowing them to thrive and contribute significantly to the business world.
We have listed below some companies that offer business coaching for women entrepreneurs.
TENFOLD BUSINESS COACHING
Coaching with Tenfold supports female business leaders by addressing a common challenge – businesses often heavily depend on their owners. The success of a business is seen as a multiplier, benefiting not only the owner but also those around them. Research in Australia indicates that companies with a female CEO experience a 5% increase in market value. Tenfold’s coaching helps business owners codify their unique knowledge and vision, creating systems and processes that can be replicated across the team. This approach allows for the effective transfer of knowledge to the team, contributing to consistent adherence to company standards and overall success.
BEHIND CLOSED DOORS
Behind Closed Doors is a national leadership and professional development, peer coaching, and mentoring company, with a focused presence in Melbourne. Dedicated to empowering women in business, the organization connects businesswomen and female entrepreneurs in Melbourne with a broader national network. Joining Behind Closed Doors means becoming part of a community that shares a common agenda – to support and witness each member’s achievements and success. The organization ensures a safe and confidential environment for female members, providing impactful learning opportunities to encourage reflection, and empowerment, and drive meaningful change within their respective organizations.
Embrace success as a businesswoman with personalized 1:1 business coaching. If you’re grappling with revenue growth, messaging, time management, or self-worth, seek guidance to propel your business in the direction of your dreams. As a dedicated women’s business coach, she offers tailored strategies to help you achieve your goals.
In her coaching, the key elements are Clarity, Commitment, and Confidence, leading to tangible results. Working with a limited number of clients, she is committed to elevating businesses to the next level. Her coaching focus is on ensuring women not only succeed professionally but also experience fulfilment, excitement, and engagement in their working lives, knowing that this positively influences their broader life experiences.
Success goes beyond conventional business strategies. It involves a holistic approach that integrates personal fulfilment with professional achievements. Climbing the entrepreneurial ladder should enrich your overall quality of life, not just your business. Drawing from direct experience with thousands of women in business, Angela Henderson has crafted a proven 4-pillar framework. This simple yet effective framework ensures consistent and incremental improvements in both your personal life and business, allowing you to grow your business while finding joy in every day. Because true business thriving requires a holistic perspective, recognizing that personal and professional aspects are interconnected.
Say goodbye to compromising family time, burnout, and financial worries. Learn how to build and grow a business that secures a prosperous future for you and your family without overworking.
Coach Mi brings 15 years of experience in the financial services industry, reaching the pinnacle as CEO of a super fund at the age of 34. Her success is rooted in a philosophy of accountability, continuous innovation, and a keen ability to recognize potential in people and ideas. Having achieved her own career goals, she transitioned to a business coaching practice, driven by a natural affinity for coaching and a deep desire to share her business skills.
Working across various industries, from services to retail and professionals, Coach Mi is guided by core values of authenticity, integrity, and commitment. Her coaching approach, grounded in advocacy for her clients, consistently delivers optimal results. Mi holds qualifications in Commerce and Law, a Graduate Diploma in Applied Finance and Investments, and is a certified NLP practitioner. She is also accredited in the Myers-Briggs Type Indicator.
Beyond her professional accomplishments, Mi is a dedicated mother of two, navigating the delicate balance of work and family life. An avid reader, science fiction enthusiast, coffee lover, and appreciator of good food and red wine, she finds joy in playing the piano and exploring photography in her spare time. As a passionate business coach, Mi is committed to helping women in business turn their dreams into reality.
Some final thoughts
Women entrepreneurs encounter distinctive challenges in the business world, necessitating the support of a specialized business coach attuned to their unique needs. Balancing work and family responsibilities is a common struggle, and a coach for women can provide strategies for achieving a harmonious work-life balance. Overcoming gender bias and stereotypes is another challenge, and a coach specializing in women’s needs can offer guidance on navigating and conquering biases in professional settings. Confidence-building and assertiveness are crucial areas where women may seek support, and a coach for women can provide tailored strategies to enhance self-confidence. Facilitating networking and mentorship opportunities specific to women is vital for success, and a coach in this domain can connect women entrepreneurs, fostering a supportive community and offering valuable mentorship. Moreover, a coach for women understands the unique challenges women face in their businesses, offering targeted advice and strategies for effective navigation. With personalized guidance, addressing confidence gaps, and recognizing individual aspirations, a coach for women creates an environment where female entrepreneurs can thrive, overcome obstacles, and achieve their business goals with confidence and success.