Women Entrepreneurs

Jill Blashack Strahan, 48, is founder of Tastefully Simple, a wildly successful company that sells gourmet foods via in-home tasting parties. Strahan, however, is quick to admit: “For a long time the company just eked by. I was always thinking, ‘What are you doing? You can’t even make the house payments! Get a real job!’”

It’s a good thing she didn’t. Today, Tastefully Simple generates $120 million in revenues.

Strahan is one of the millions today who defy the myths about entrepreneurs, particularly those of the female variety. In the U.S., women are dominating in new business startups. In fact, the Center for Women’s Business Research found the number of women-owned companies is growing at almost twice the rate of all others.

Still, stereotypes exist about it being harder for women entrepreneurs to succeed. To be sure, many of today’s best known successes are men, and many of them started young: Bill Gates of Microsoft; Google’s Sergey Brin and Larry Page; and Jack Dorsey, founder of Twitter. But women of all ages, levels of expertise, and financial means are making big business moves, too.

If you’re planning to start a business, don’t buy into the old hype. For inspiration, consider the three greatest myths about women entering business – noting how today’s women entrepreneurs are defying those limiting fairy tales.

Myth #1: Women Entrepreneurs Have to Be Young

Not so. While it’s true that younger people are more apt for take risks, more mature entrepreneurs are likely to endure the challenges. Note: 43 is the average age of entrepreneurial leaders on the Inc. 500 list of the fastest-growing private companies in America. Clearly, the experience and confidence that come with age have their merits.

Myth #2: Women Entrepreneurs Need a Load of Startup Cash

So untrue … Women who transition come from a corporate position often start a business with advantages: a fat bank account and plenty of connections. However, the vast majority of women venturing into entrepreneurship start with little more than the Five No’s: no money, no merchandise, no clientele, no help, and no facility.

Most women have a knack for being resourceful. When life’s given them lemons, many have opened entire lemonade stands, turning an unlikely venture successful. Start small, donate your goods/service to establish a following, get a partner — these are a few ways that women start from scratch and wind up with a winner.

Myth #3: Women Entrepreneurs Need to Be Uber-Experts

Not necessarily. When Eileen Fisher launched what’s become a $225 million clothing business, her family thought she was nuts. She couldn’t even cut a pattern, and financial intelligence wasn’t her forte.

What Fisher did have, though, were good instincts. She knew the fashion industry was failing to deliver professional women less complicated but wholly stylish apparel. Common sense and her own unfulfilled needs told her all she needed to know: A line of designer work apparel for legions of women like herself would make someone a fortune!

Like Fisher, every aspiring business person will have some knowledge gaps. So the goals is to leverage your personal strengths, and put good people in place to help handle the rest.

Fact is, women entrepreneurs are pouring trillions of dollars into the U.S. economy; they create over seven million jobs each year. So, bringing on board good help is the way it works best. This is how women who may have fewer resources defy the odds every day.

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