Very few women's businesses actual make money. Most are side-businesses that are in the background, and I have wondered WHY? I have discovered there are several reasons, lack of capital, lack of support, not enough women mentors that provide a road map on getting to that level. We have books on breaking the glass ceiling, but not too many on not starting there from the beginning.
To have a million dollar business, you need to have a certain mindset, a new set of skills and determination. When asked 65% of entrepreneurs said that determination was the number one skill they needed to make business work. Raising capital is also something some women have a problem with. Most men are Venture Capitalist so receiving funding from men is a concern for some women entrepreneurs.
There are more women starting businesses in the last decade than any other time. But more women run out of money than men businesses do, so understanding the funding game is important. It's not that women don't understand business, its just that women normally think small or don't have support, like employees, because most women are in business alone. If they had more employees,or more funding they could invest in more marketing, hire additional staff, and focus on the big picture plan.
Raising capital is risky and men tend to take more risks in business than women. Scaling a business that can be sold for millions of dollars is something to work for. It changes lives, you can employee more people and make a difference in your community. Remember there is a difference in running a business that works, and one that works for you. Getting to a certain milestone whether its $1 Million, or $10 Million or no matter what size business, scaling and structuring your business so that you can have a personal and business life and make your business run more efficiently and effectively.