36% of American businesses are women-owned, and 99.9% of them are considered small businesses. Based on these statistics, there's a very good chance you're a woman who owns a small company.
As a woman (and especially if you're a woman of color), it can be difficult to get your business off the ground. To help you out, here are 4 key tips for networking women.
1. Attend Gender-Specific Events
When you attend conferences geared towards women, you'll find that networking is a lot easier to do, especially if you're in a male-dominated field. When women get together, they tend to band together to support one another.
When you feel comfortable in a space, you tend to feel more confident. This can motivate you to make more connections that you would've had you attended a mixed-gender event.
2. Join Co-Working Spaces
Co-working spaces are great places to link up with other entrepreneurs. Whether they're also struggling in the road to success, or they own hugely profitable companies, you're sure to find a mixed bag of like-minded people.
Mingling with entrepreneurs you meet in co-working spaces serves two purposes:
- You can put your heads together with those who have just started out and help each other bring in business,
- You can get some mentoring from those who are more experienced.
3. Be Assertive
Being assertive can do wonders; not just for yourself, but for your networking efforts as well. When people sense that you know what you want, and you know how to get it, they'll be more open to discussions with you.
People are also at events for the same reason as you: to network. So don't dance around what you're trying to achieve.
Instead, make the most of everyone's time by directing the conversation toward a shared business interest. They'll certainly welcome a mutually beneficial subject.
4. Always Follow Up
You may have spent hours at an event painstakingly gathering information on people you've met. But what's the point of doing so if you don't do anything with that info afterward?
The most important thing about networking is following up. A few days after the conference, you'll want to go through your contacts list and get in touch with everyone.
Make sure to thank them for their time and mention your conversation briefly to remind them of who you are. They'll appreciate the personal touch, and you open the doors to a meaningful and long-lasting relationship.
Becoming a Part of Networking Women to Succeed
When you join the ranks of networking women, you're sure to see your business succeed. While it may not be the ideal thing you want to do with your time, think of networking as an investment.
Every time you attend an event, you're building your web of contacts a little more. In time, you'll have a reliable network of people you can rely on to help grow your business.
If your company needs funding and you'd like to make a pitch to us, apply now!
More and more startups are entering the business scene every day. Accelerators are also popping up to support those startups.
In fact, between 2008 and 2014, accelerator programs in the U.S. increased at an average rate of 50%.
Participating in an accelerator program can be immensely helpful in the early stages of getting a company off the ground. This goes right along with finding investors to support your company.
Of course, you have to find the right accelerator for your business. We've made a list of some of the best accelerators focused on supporting and investing in minority businesses.
Keep reading to find the right minority business accelerator for you and your startup!
What Accelerator Programs Really Do
Accelerator programs for entrepreneurs help support startups in the early stages of their business.
These programs do not necessarily provide early startups with financial funding. However, some accelerator programs do invest in the companies.
Accelerator programs mainly support startups in the form of mentoring and advising entrepreneurs.
The sessions are short. They are usually just a few weeks to a few months time. However, they are designed to jam-pack helpful information into this short period of time.
Accelerators are all about literally "accelerating" your startup's rise to the top.
You can find accelerators that focus on many different niches within the startup world. Here, we've looked for the best startup accelerators that are focused on investing in underrepresented entrepreneurs (i.e., women and people of color).
Here are 5 of them.
5 of the Best Accelerators for Minority Businesses
This business accelerator fund is focused on investing in startup founders identifying as women, people of color, or members of the LGTBQ++ community.
Backstage Accelerator does provide financial funding, in the form of 100K USD capital in exchange for 5% equity in the company. This 3-month program also provides several educational opportunities. You'll hear from experienced entrepreneurs, investors, and many other experts in the business world.
They promise free city co-work space during the program. They also offer support in building a community within the entrepreneurial world.
NewMe offers one-week accelerator programs in several cities around the U.S. Locations include Cincinnati, Columbus, Chicago, Indianapolis, and Miami.
They promise small cohorts with no more than 8 founders in each group. This ensures more individualized attention during your participation in the accelerator program.
Dreamit Ventures offers 3 different accelerator programs for entrepreneurs. It just depends on your company's niche. The three programs are HealthTech, UrbanTech, and SecureTech.
HealthTech focuses on startups in the healthcare industry. The UrbanTech program supports environment startups working in urban development. Finally, SecureTech works with startups that are in the security niche.
They promise to provide ample networking opportunities within your industries. Dreamit can also help connect your startup to some of the best potential customers.
Located in Austin, Texas, DivInc stands out from other enterprise accelerators because of their focus on women and people of color. To apply for their cohort, the founder or co-founder of the company must be a woman and/or person of color.
The company also must be a for-profit enterprise in tech, or be tech-enabled.
DivInc's program lasts for 12 weeks. The program offers many promising benefits. Some of the perks include one-on-one coaching, weekly workshops, weekly mentor meetings, and free co-working space for 6 months.
You might have already guessed it from the Spanish name. Manos Accelerator is a minority business accelerator that focuses solely on Latino entrepreneurs. They work with entrepreneurs from both the United States and from Latin American countries.
Manos Accelerator currently offers a 3-month virtual accelerator. This program provides one-on-one mentorship via video conferencing. This is an excellent option for Latino entrepreneurs in other countries. You may not have the funds or resources to attend a program in a specific U.S. city.
Manos also offers a one-week intensive scale-up program in Silicon Valley.
We want to help you find the best accelerators, investors, and other opportunities to help your business thrive! Pitch us today to see how we can support you and your business.
Sometimes you hit a wall on what you can accomplish on your own. We are not finance experts, and we're not going to give you financial advice, but we can point you towards some resources. One of those resources may be a loan.
There are many types of small business loans out there, and you need to know which one works best for your business. This post will give you some options.
Keep reading to learn about four small business loans you can apply for so you can push your company forward.
1. Business Line of Credit
If you are looking for flexibility, then a line of credit may be right up your alley.
It works similar to a cash advance on a credit card. It's a revolving loan.
The maximum amount of money you can withdraw will be based on your credit limit. Instead of receiving a lump sum of money, you draw down the amount you need.
After you get your money, you pay the borrowed amount down based on the repayment terms of your credit agreement.
2. Term Loan
A term loan is the conventional business loan you would expect from lenders. They offer you an upfront lump sum, and you pay it off over time, with interest.
If you have good credit and need a lot of funding, term loans are an excellent choice. You can borrow a lot and get reasonable terms with good credit and collateral.
3. SBA Loan
SBA loans are similar to term loans, but there are several differences you should know.
Like a term loan, you can borrow a large amount of cash and get it in a lump sum. But unlike term loans, SBA loans are backed by the government.
If you can't get a term loan, then an SBA loan may be possible for you.
The terms you get for your loan will depend on how you need to use the money. You can expect more extended repayment periods too.
4. Angel Investors
If you are looking for more than just money, then an angel investor might be for you.
Angel investing doesn't work like traditional loans.
The first difference is that you are taking money from an individual who is providing their own funds. You aren't receiving money from banks or firms.
These individuals typically require equity in your company for the investment. For this, you get the money you need and an advisor who is invested in the success of your company.
Angel investors usually have experience in the industry they are investing in. The contacts and knowledge they have can help you make your company a success.
Types of Small Business Loans: Final Thoughts
There are more types of small business loans out there, so don't stop here. You need to make the right choice, so you get the loan you need to help move your business to the next level.
You don't have to stick with the typical small business loans. If you have an idea, then reach out to an angel investment firm to pitch them your idea.
Click here to see what we have to offer and see if your team is a good fit for us!
Today, more than 1.4 million latinas own a small business in the US. That's nearly a 90% growth in the past decade.
But, despite these figures growing every year, how do these fiery women get their foot through the door to entrepreneurship?
Read this article to get some must-have advice from today's most successful Latina entrepreneurs.
Don't Shy Away From You Heritage
Sofia Boyer, CEO, and founder of Magnolia Creative Studio tells Latina women they should be proud of their roots.
Aside from the fact that being Latina makes her bilingual, it also inspires others with similar backgrounds. Many see Latina women as strong-minded, passionate, and family-orientated. Sticking to your roots sets an example for other passionate women wanting to start their business ventures.
But, it's not just about being Latina. It's also about being a woman. Some of the best reasons you should market yourself as a female-owned business include:
- Inspiring others
- Setting yourself apart from the crowd
- Qualifying for unique business opportunities
Every year, there are various events for female entrepreneurs. These allow them to showcase achievements and receive awards. Marketing yourself as a female-owned business will put you on the radar for these awards.
Stick to Your Office Hours
Sofia also says that you should set expectations with your clients. It's important that you turn off your work devices at the end of each day. If you don't, you may find yourself answering business emails and calls at all hours of the night.
By sticking to your office hours from the get-go, clients and customers won't expect you to be at their beck and call.
Treat Your Venture Like a Job
Angela Dominguez, a children's book author and illustrator believes in treating your new venture like a job.
It's easy to become absorbed in the creative side of an entrepreneurial idea. But, you must continue to study, learn, and research your market to make it a profitable business.
Be Open to Feedback
Angela also reminds us to be open to feedback. It doesn't matter whether you receive positive or negative comments, both are valuable.
While you must keep your business mind active, there is also always space for creative play. Keep doing new work and developing new ideas to understand your target audience better.
Take Time to Unplug
Mercedez Sanchez, the founder of BeChicMag.com, believes that all Latina businesswomen need to take time to unwind.
While your new business venture may also be a passion, it shouldn't consume you. You must find time away from your business. Time off will help you stay grounded. It will also allow you to maintain relationships away from your work.
Get More Tips From Latina Entrepreneurs by Joining Our Network at Score 3 Angels
Latina entrepreneurs in the US do more than start businesses. They offer new opportunities to people in the country. They also elevate minority business issues to build awareness.
If you're an entrepreneur looking for tips to get your business idea off the ground, visit Score 3 Angel today.
We have a network of angel investors, partners, and industry experts that can support you from early stage to exit.
You have the drive and passion, but do you have the planning needed to create a business that's set to succeed?
You may think so, but you need to be sure -- especially in a world where 70% of small businesses fail.
Don't become another statistic. Check out this guide on how to build a business capable of dominating your market.
1. Establish Clear Values And Goals
Starting a business from scratch begins with a quick assessment. In short, to understand your market, you must first have a clear understanding of yourself.
As you begin to create your business plan, ask yourself these questions:
- Why is your business a fit for this particular market?
- What do you value as a brand?
- What makes right now the best time to launch your new business?
- What purpose, aside from seeking profit, does your business service?
- How will you get capital, and what types of capital do you value the most?
Take the time to think about your answers to these questions. It's crucial that each aspect of your business is well thought out and intentional.
2. Focus on Branding
Coming up with a straightforward, effective branding strategy is one of the best ways to kick off your new career. With that said, branding doesn't happen overnight. The sooner you plan, the better.
Today's companies need to be so much more than a faceless corporation. You can use branding to give your company personality.
First, come up with a great logo if you haven't already. If you've yet to come up with a logo, research color psychology to see how you can pair the right look with the right feel. If it's in the budget, a good graphic designer can help you develop a strong brand.
Then, focus on the tone of your marketing. Your tone is often dictated by your company's market. For instance, if you sell to other businesses, a more formal tone is typically more appropriate. For a B2C business, though, a conversational tone often works best.
3. Market From a Customer-Centric Perspective
Speaking of customers, don't forget to put them first in everything you do. Making tons of cash is fantastic, but that's impossible to do if your company isn't serving your market.
As you and your team come up with marketing strategies, put yourself in your customer's shoes. How can you use your marketing to better serve your customer?
Content marketing is a great way to educate, for instance, while social media is a great way to interact.
4. Network With Other Entrepreneurs
It's true that you're going to face some stiff competition, no matter what industry you're in. Even so, networking -- even with those who may be direct competitors -- can be a great tool.
Attend as many local networking events as you can so you can meet and learn from the best and brightest. You never know who may be able to help your company out.
5. Learn From Your Mistakes
You're going to make mistakes; it's a fact of life. How you treat those mistakes will dictate your future as a company.
Always do your best to learn from any past errors and focus on how you can improve. Treating mistakes as chances to learn takes the sting out of failure and can help you grow as a person and brand.
Build a Business Ready To Succeed
Those looking to build a business should understand that it's going to take quite a bit of time and effort. With that said, if you've put in the work and followed this guide, you'll do great.
Do you have a fantastic business idea that needs funding? Are you struggling to get the attention of investors? If so, we'd love to chat with you.
Get in touch to see how we can work with your business to create exciting, innovative new solutions!
The percentage of businesses owned by women entrepreneurs has risen significantly over the past few years.
According to Forbes Magazine, over 36 percent of businesses that are now owned by women. That's an increase of 30 percent since 2007.
This statistic may be just the encouragement you need to get started with your business. But sometimes you need real-life examples of famous female entrepreneurs to inspire you to move forward.
Keep reading to find out more about the 10 top successful female entrepreneurs. Let's go!
1. Judy Faulkner
She's the founder and chief Exec of Epic Systems, a healthcare software company. Faulkner built up the company from a with a starting investment of only $6,000, which came mostly from her parents. She's now worth $2.4 billion.
2. Marian Ilitch
Along with her late husband, Marian Ilitch is the co-founder of Little Caesars Pizza. The pizza restaurant chain is the third biggest in the United States after Dominos and Pizza Hut.
Bloomberg described her as one of the seven wealthiest self-made women in the world. She's worth over $5 billion.
3. Judy Love
Judy Love and her husband started off with a loan of $5,000 in 1964. They have since developed an empire of travel shops and country stores across the United States. Love's worth is almost $3 billion.
4. Diane Hendricks
Hendricks and her husband established ABC Supply, a wholesale company selling everything from roofing, windows, and gutters. She's now estimated to be worth almost $5 billion. Hendricks has also become a film producer and notable political donor.
5. Oprah Winfrey
Known as the Queen of Talk, the philanthropist is one of the few people in the world who is known by their first names alone - 'Oprah.' A member of Hollywood royalty, Winfrey is worth almost $3 billion.
6. Johnelle Hunt
As the co-founder of the J.B Hunt Transport Services, Hunt has a net worth of $2.4 billion.
7. Doris Fisher
Named one of the 100 most powerful women by Forbes Magazine, Fisher is the co-founder of the clothing chain the Gap. She's worth $2.8 billion.
8. Ariana Huffington
The Greek-American businesswoman and writer is the co-founder and former editor-in-chief of The Huffington Post. Her company has been sold to AOL. She was listed as the 12th most influential women in media by Forbes Magazine.
Even though her net worth is only $50 million, she's an incredible inspiration to young women interested in the media industry.
9. Lynda Resnick
Described as a "marketing force" by the New Yorker, Resnick is the founder of the Wonderful Company. The company owns brands including Pom Wonderful, Wonderful Pistachios and Fiji water. She's worth $2 billion.
10. J.K. Rowling
Any aspiring female entrepreneurs who fancy a writing a novel have to look no further than the British author, J.K. Rowling.
Rowling inspired an entire generation of children. She has a net worth of over $600 million.
You Could Become One of Our Famous Female Entrepreneurs
You can find inspiration in these 10 stories of famous female entrepreneurs. Too many people associate entrepreneurial spirit with men.
When in fact, with our examples of successful women entrepreneurs, it's clear that women can thrive in the business world too.
Do you want to find out more about how to become an entrepreneur? Check out our website for more advice and information today.