Small business week in America is truly something for us to celebrate.
There are nearly 13 million women-owned small businesses in the U.S., generating $1.9 trillion in revenue for the U.S. economy.
But small businesses in America are also facing a crisis. Since the beginning of 2019, over a third of small businesses in America considered themselves nonoperational.
Not to mention the challenges women owned small businesses already face – limited funding, balancing responsibilities, general gender inequality and gate-kept knowledge.
Here are some resources you can leverage to challenge yourself and grow your small business this small business week:
It’s hard to build anything without a strong foundation. And without current mission and purpose statements, you’re traveling with no direction.
Your purpose should fit the lifelong journey of the enterprise. If you’re already in business, revisit that and give yourself a way to gauge whether you are on track. From the moment you are clear on your Purpose, you can determine whether your activities are in line with it.
Whether you’re just getting started or you’re ready to grow, what are the things that are standing in your way?
Know your strengths and weaknesses. Continue to grow where you are strong, and notice the places where you need support or knowledge. The more specific you are, the easier it will be to develop actionable goals.
Building your knowledge will always help you grow- whether it’s somewhere you need support, or somewhere you’re already excelling.
A part of building your knowledge is building your network, which we will touch on in the next step. Its a method of pooling knowledge for collective growth- and as women business owners, we have to support each other.
A common issue that women in business face is an inadequate support system. Women tend to face greater challenges getting support than male counterparts, seemingly lacking the relevant connections, financial access, or support in facing challenges.
Finding a network of support is imperative to growing a business. A small business community provides you with instant connections and emotional support. Additionally, you can work together to problem solve in real time. Any question you have, someone can provide a suggestion!
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There are so many reasons to consider business coaching. Firstly and most importantly, everyone needs support. And coaches can provide interpersonal, financial, problem solving and philosophical advice.
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