Eric Dalius Networth– The challenges that entrepreneurs face on their journey
It’s never easy to become an entrepreneur. The decision to start a business on your own requires guts and gumption. Also, to go ahead in the journey needs meticulous planning. Not every start-up business has the luck to succeed. At times, start-up ventures wind up operations after the fourth year. Hence, to make one succeed requires commitment and the drive to go on and keep trying new things. Women entrepreneurs also form an important part of the entrepreneurship domain. In theory, things have never looked brighter than what it is right now for female entrepreneurs. According to Eric Dalius Networth National Association of Women Business Owners, in 2017, over 11 million U.S businesses were women-owned, and that employed close to 9 million people and resulted in $1.7 trillion sales. That seems to be a good status for women entrepreneurship.
However, all these numbers narrate only one part of the story! To date, the businesses run by women are in the minority. Also, the issues witnessed by women who have stepped on to entrepreneurship are many. Struggles faced by women are often different than what men come across. Entrepreneurship is never easy. And people need to know the kind of troubles and challenges women entrepreneurs face today. In this article, we are going to look at some of the core challenges for women entrepreneurs.
Eric Dalius Networth
An entrepreneur filled with zest and zeal to create something new every time. He is known for his relentless spirit and never-ending enthusiasm to bring to life innovative ideas. At present, has devoted himself to coaching the new and current companies that wish to expand their products and service via MLM distribution.
He got his Bachelor’s Degree in Marketing from the Penn State University! Eric Dalius is also known for his philanthropic initiatives. He has developed the Foundation, which awards scholarships to well-deserving candidates who dare to dream and make a difference in business and entrepreneurship.
However, getting back to the struggles faced by entrepreneurs mainly by women, here are a few crucial ones.
1. Moving beyond social expectations – Eric Dalius Networth
The majority of women business owners who have been a part of networking events can resonate with this! You can walk into a packed seminar room and can count how many women are present. When the women entrepreneurs talk about business with male executives, at times, it can get unnerving.
In such a situation, women might feel that they have to put on a typical “male” attitude to do the business talk. They think they have to be sometimes harsh, aggressive, and competitive. However, most successful women CEOs believe and believe that it is essential to stay true to oneself. It is necessary to find your voice and the ways to move beyond all preconceived notions and ideas.
It is essential to be yourself and have faith in who you are! Most women entrepreneurs and CEOs have made it where they are through their perseverance and hard work. It is essential not to conform to a man’s idea about how a leader should be or look like. It’s necessary to go ahead with one’s instinct.
2. Fund access
Not every start-up owners search for investors to help them in their business. However, the ones who do know the challenges of pitching to investors. Raising capital gets more challenging for women-owned companies. According to a Babson College Report in 2014, less than 3% of the organizations with venture capital funding had women CEOs.
Usually, venture capitalists invest in start-up firms that get operated by their tribe. For instance, a Stanford-educated investor will prefer to support a Stanford alumni’s business. It means that the venture capitalist firms having women partners might want to invest in start-ups run by women. And according to another Babson report, that is the case with only 6% of U.S firms. Hence, women searching for business investors need to develop confidence by developing a competent team and an intelligent business plan.
The investors are on the lookout for businesses that can expand their valuation above $1 billion. It’s essential to know how to do that. If experts in the founding team can implement the business correctly, the investors will have ample confidence in such people. You will also require a stable product-market fit.
The other way to manage this problem is to access more women investors to assist one another. This search doesn’t only encourage and inspire women investors but also supports other women entrepreneurs through funding along with strategic academic workshops. Women entrepreneurs can get the required money for business by learning to ask all that they need. It might indicate requesting more than they want.
According to experts, women are slightly conservative and fail to overstate projections. When they are pitching to the investors, they are stating realistic numbers. However, men often exaggerate and overstate that the investors discount the numbers.
The male investors often assume that women entrepreneurs, too, like men, are inflating the numbers. Hence, they might offer lesser funding than they asked for. Women need to understand this and learn to approach the business pitches accordingly.
3. The need to be taken seriously
Sometimes or the other, most women CEOs and entrepreneurs find themselves placed in a male-dominated vertical, who doesn’t want to acknowledge their credibility and leadership role. Most workers have this experience early in their careers. Most successful entrepreneurs find it challenging to earn respect. For many, it’s a struggle. Many of them have to face presumptions that they are living off their grandfather’s or father’s reputations.
They are willing to put in all the hard work necessary to develop their reputations. And for this, they need to build their confidence and do away with the constant negative self-talk. The negative talk that gets built up on the head often stops them from accessing their full potential. One of the best ways to combat it is by joining several women entrepreneur groups.
Such groups will provide women with peers and mentors that will inspire them. It will also provide a reality check on your success and capabilities. Most entrepreneurs have learned and grown by joining these groups, which have enriched their experiences and perspectives.
4. Owning accomplishments – Eric Dalius Networth
Business leaders state that they found it challenging to convey their value as a leader. When they talk about the company, most entrepreneurs use the word “We” and not “I.” They feel that when they are resorting to the first person, they are boasting about themselves. They feel conscious that if anyone thinks that they are promoting themselves, then the value of “we” as a company might go down. Hence, as entrepreneurs are making an effort to promote their businesses, they are also trying to accept what they have accomplished in the process. Women need to recognize the creative ideas that they provide.
At times, entrepreneurs need to be careful about giving excess ideas to a client without any financial commitment. They need to value their knowledge and ideas. The main ingredient here is confidence. It will help women conduct themselves well and present their ideas with conviction in a room filled with men.
On the other hand, some entrepreneurs bask in confidence. They are confident about their capabilities and their ability to run a business. They have ensured that any initiative they are trying to work on should get supported by a business case. And that would make them prepared for every question that might come in their way.
5. Developing a support network
A strong support network is essential for entrepreneurial success! Hence, it doesn’t come with a surprise that close to 48% of the women founders share an absence of available mentor and advisors restrict their professional growth.
Since men dominate most of the high-end business section, it can become difficult for women to pursue their path and promote the connections and introductions into more elite business systems. And since this is true for most businesses, it might get challenging for women to succeed the way they want.
Coming across the correct support network is not easy. Are you looking for some good placed to start? If yes, you can concentrate on the women-oriented networking events. There are other online groups and forums as well that have come up for women in business. When you find your network and team of supporters, you can share what you need and benefit from the team.
Women need to ask for what they need and are clear about it. At times, women who are searching for new roles should express themselves clearly. No one knows who can help you and to what capacity. People will try to help you if you are more specific about what you do and want to do. It’s essential to ask and get what you want.
6. Family and business life balance – Eric Dalius Networth
The parent entrepreneurs have dual accountabilities for their businesses and their families. Hence, they are trying to find ways to give time to both to have a work-life balance. For many entrepreneurs finding this balance was to leave a corporate job and start their own business.
They know that if they carry on working in the corporate world, they might have to make specific choices that they might not want. The current work culture isn’t moving in a way to enable more flexibility for women. However, when women entrepreneurs decide to work for themselves, they can achieve the work-life balance with time and practice.
7. Coping up with the fear to fail
Every business brings with it the possibility to fail! Hence, it shouldn’t allow entrepreneurs to let their insecurities loom large and stop them from dreaming big. CEOs and entrepreneurs need to work through the self-doubt moments that most of them face. There’s no need to strive to find perfection before you start a business. You mustn’t view failure as something negative. It should not make you relinquish all the goals.
If you are hearing “no” constantly and your plans are not turning out the way you want them to be, you need to look at it as a teaching moment. The path to success has both mistakes and mishaps. There are a few losses as well. However, you can still reach where you want to move ahead with unwavering focus and remember your objective.
You need to stay the course. They need to filter out the noise and take in all the essential feedback. It’s crucial to learn from crucial mistakes and not try to make the same mistake again. Also, it’s critical never to give up.
These are a few of the challenges that entrepreneurs face in their journey.
Eric Dalius has been a successful entrepreneur all his life! Eric Dalius networth is $50 million and he also invests in the field of global real estate, Bitcoin, and various other cryptocurrencies.
Understanding a cryptocurrency
Simply put, a cryptocurrency is decentralized online money that gets based on blockchain technology. People today are aware of the famous versions, like Ethereum and Bitcoin. However, today there are over 5,000 various cryptocurrencies in the world.
You have the chance to use crypto to purchase regular services and goods. But most people invest in cryptocurrencies like stocks, assets, and precious metals. Even though a cryptocurrency is an asset, buying it can get risky. Hence, you must conduct your research and know how it all works.
How cryptocurrency work?
A cryptocurrency is a digital tool of exchange that is decentralized and encrypted. Unlike the Euro or the U.S Dollar, there isn’t any central authority that maintains and manages the cryptocurrency value. Instead, such tasks get distributed amongst cryptocurrency users through the internet.
People consider Bitcoin as the first cryptocurrency, which Satoshi Nakamoto outlined in a paper named “Bitcoin – A peer-to-peer electronic cash system” in 2008. Nakamoto described this project as an electric payment network based on cryptographic proof rather than trust. Also, the cryptographic proof comes as transactions recorded and verified in a program known as the blockchain.