Category Archives: General Concept

Bridging the Gender Gap in Entrepreneurship: How to Support Women-Owned Small Businesses

3 Replies

As a woman, International Women’s Day holds a special place in my heart. It’s a day to celebrate the incredible achievements of women and to recognize the unique challenges that we face. One way to celebrate Women’s Day is by supporting women-owned small businesses.

As a female entrepreneur myself, I know firsthand the obstacles that women face when starting and growing a business. Funding, mentorship, and networking opportunities are often harder to come by for women entrepreneurs. Despite these challenges, women-owned businesses are on the rise, and they are making a significant impact on the economy.

According to a study by American Express, there are now over 12 million women-owned businesses in the United States, generating over $1.8 trillion in revenue and employing over 9 million people. Women entrepreneurs bring a unique perspective and approach to business, often driven by a desire to create positive change and make a difference in their communities. They also tend to prioritize work-life balance and build businesses that align with their values.

So, how can we support women-owned small businesses? As a consumer, one way to show support is by shopping at women-owned businesses and promoting them on social media. By buying from women-owned businesses, we can help to grow their customer base and provide them with the resources they need to succeed. As a fellow entrepreneur, I believe that mentorship and support are also key to helping women entrepreneurs succeed. By sharing our knowledge and experience, we can help bridge the gender gap in entrepreneurship.

Finally, we can advocate for policies that support women-owned businesses, such as increased funding for small business loans and grants and increased access to resources and support. As a woman, I believe it’s our responsibility to work together to create a more equitable and inclusive economy that benefits everyone.

Here are a few links to resources and organizations that support women-owned small businesses:

  1. National Association of Women Business Owners (NAWBO): NAWBO is a membership organization that provides resources and support to women entrepreneurs. They offer networking opportunities, mentorship programs, and advocacy for policies that support women-owned businesses.
  2. Women’s Business Enterprise National Council (WBENC): WBENC is a certification organization that helps women-owned businesses gain access to contracts and opportunities with corporations and government agencies. They offer a range of certification programs and resources to help women entrepreneurs grow their businesses.
  3. Women’s Business Centers (WBCs): The U.S. Small Business Administration (SBA) sponsors a network of Women’s Business Centers across the country that provide training, counseling, and resources to women entrepreneurs. They offer workshops and one-on-one coaching to help women-owned businesses start and grow.
  4. American Express Shop Small Map: American Express has a Shop Small Map that allows consumers to search for and find small businesses in their area, including women-owned businesses. This is a great resource for finding and supporting local women entrepreneurs.
  5. Women Entrepreneurs Finance Initiative (We-Fi): We-Fi is a global partnership that provides funding and support to women-owned small and medium-sized enterprises (SMEs) in developing countries. They offer a range of financing and technical assistance programs to help women entrepreneurs access the resources they need to succeed.
Advertisement

Small Business, Big Dreams: How to Make Your Vision a Reality

Leave a reply

OVERCOME FEARS

For many individuals, starting a small business is a dream that’s often held back by the fear of competition and rejection. Over the years, I’ve encountered numerous friends and acquaintances with excellent business ideas, but they were hesitant to take the leap. The fear of failure is a significant factor that prevents many from pursuing their entrepreneurial aspirations. In particular, many people worry that their idea may not be unique or that there is too much competition in the market. However, it’s essential to remember that every successful business today has been built on an idea that has already existed in some form. The key is to identify a gap in the market and offer a unique approach to solving a problem or fulfilling a need. A new business doesn’t have to be completely novel; it can simply provide a different spin on an existing concept.

To overcome the fear of competition, one must conduct thorough research on the industry and its competitors. This involves identifying the key players in the market and analyzing their strengths and weaknesses. This research will help to identify what makes the business unique and how it can stand out from the competition.

One must also consider the target audience and their needs. Understanding the customer’s pain points and creating a product or service that caters to those needs is crucial. Once a unique value proposition is identified, the business can focus on marketing its product or service to attract the right customers.

Another fear that often holds people back from starting their own business is the fear of rejection. This fear stems from the belief that people may not want to buy from them or that they may not be able to convince people of the value of their product or service. This fear can be overcome by building confidence and developing strong communication skills.

Networking is a crucial aspect of developing a thriving business. Attending industry events, participating in online communities, and meeting with potential customers can bolster confidence and offer valuable feedback on business ideas. Practicing presenting the business concept to friends and family members can help refine the pitch and make it more effective. While rejection is an inevitable aspect of the business world, it’s critical to stay optimistic and persevere. It’s normal for not everyone to be interested in the product or service, and that’s okay. It’s important to remember that failure is a natural part of the entrepreneurial journey, and it’s through setbacks that we learn and grow.

Another factor that often holds people back from starting their small businesses is the risk of losing money and time. Starting a business requires a significant investment of both time and resources, and the possibility of failure can be daunting. However, it’s important to remember that taking calculated risks is a necessary part of entrepreneurship. While there are no guarantees of success, conducting thorough research and developing a solid business plan can help mitigate some of the risks involved. It’s also important to have a realistic understanding of the financial and time commitments required to start and grow a business.

Some might say that small businesses cannot succeed because gigantic companies eat them alive; it is true that in the past, large corporations have been able to use their size and resources to dominate smaller businesses. However, the rise of digital technology and the internet has leveled the playing field to a certain extent. Small businesses can now compete with larger corporations by leveraging online marketing and social media platforms. Moreover, there is a growing consumer demand for authentic and unique products and services that cannot be easily replicated by larger corporations. This has created opportunities for small businesses to thrive and cater to niche markets.

Finally, I would like to emphasize the importance of AI in today’s business world. AI provides small businesses with the ability to leverage technology and enhance their services to compete with larger companies. By using AI, small businesses can streamline their operations, automate repetitive tasks, and make more informed business decisions through data analysis. For instance, chatbots powered by AI can enable small businesses to provide 24/7 customer service and support without requiring additional human resources. AI can also help small businesses analyze customer data to understand their preferences and needs and offer personalized recommendations and promotions.

AI can help small businesses optimize their marketing campaigns and reach new customers through targeted advertising and predictive analytics. This can help small businesses increase their visibility and compete with larger companies in the market.

In a nutshell, starting a small business can be daunting, and factors like the fear of wasting money and time or competing with large corporations can be overwhelming. However, with some calculated risks, a tech-savvy approach, and a unique value proposition, anyone can overcome these hurdles. Remember, you don’t have to do it alone; there are support networks, resources, and mentors available to guide you through the journey. With the right mindset, approach, and a sprinkle of determination, you can turn your small business idea into a flourishing venture.

The Sorrows of Broadway: A Walk Through a Pandemic-Stricken Street

Leave a reply

I was walking down the street from my workplace to Grand Central Market to grab a coffee when suddenly I felt how sad Broadway Street was. Broadway is a major street in downtown Los Angeles, California. It runs from the eastern edge of downtown, near the Los Angeles River, to the city’s west side. It is one of the oldest streets in the city and was once the city’s main commercial thoroughfare.

It’s possible that the current circumstances surrounding the COVID-19 pandemic have affected the atmosphere of Broadway, leading to a decrease in foot traffic and overall activity. Many businesses along the street may have closed or reduced their hours of operation due to the pandemic, which can contribute to a less vibrant atmosphere. Additionally, the economic downturn caused by the pandemic may have led to job losses and financial struggles for many people, which can also contribute to a more somber mood.

Broadway Street

I almost cried as I waited for the light to turn green to cross 4th and Broadway. A little further on the sidewalk, there was a homeless man sitting right in front of the Grand Central Market, begging for food, and a few people were in line to order their egg sandwiches. No one seemed happy.

Financial situations can have a major impact on people’s emotions and overall well-being. Moreover, I think financial stress can cause feelings of anxiety, worry, and depression, which can be further exacerbated by an economic downturn like the one caused by the COVID-19 pandemic. Job losses and financial struggles can lead to uncertainty and insecurity about the future, which can have a significant impact on mental and emotional health. Additionally, financial difficulties can also lead to practical problems such as difficulty paying bills and maintaining housing, which can add to the stress and negative feelings. With the ongoing pandemic and the financial struggles of many people, it is not uncommon for some people to feel sadness, uncertainty, and insecurity about the future.

I was thinking about the ways I could be somehow useful to my community. Maybe I could:

  • Volunteer my time or skills. Many organizations need volunteers to help with various tasks, such as providing meals, running errands, or providing counseling services.
  • Support small businesses. Consider shopping at small, locally-owned businesses instead of large corporations.
  • Help spread awareness. Share information about resources and assistance programs with friends, family, and community members who may be struggling.
  • Be kind and compassionate. Showing kindness and understanding to those around you who may be going through a difficult time can make a big difference in their lives.
  • Participate in community activities, such as cleaning up a park or organizing a community meal, that can bring people together and build a sense of community.

These activities are good but not good enough to overcome the current economic situation and financial difficulties we all face. The government should provide financial assistance to small businesses in the form of loans, grants, and tax breaks. Non-profit organizations should work hard to cover more small entities and support them financially or provide them with business improvement advisory services.

Small businesses also need to be proactive and take responsibility for their businesses in different ways such as:

  • Take advantage of digital marketing strategies such as social media, email marketing, and search engine optimization to reach more customers.
  • Form partnerships with other businesses or organizations to share resources and customers.
  • Reduce their costs by implementing cost-saving measures such as reducing inventory, negotiating better deals with suppliers, and cutting back on unnecessary expenses.
  • Diversify their products and services to adapt to changing market conditions and reach new customers.
  • Develop new and innovative products or services to stay ahead of the competition.
  • Learn to be flexible and adaptable to changing market conditions and customer needs.
  • Always seek advice and counseling from experts in the field or from business development centers to help them navigate the current economic situation.

Low Cost Advertising – Online Tutoring Part 5

Leave a reply

Have you set up your tutoring business with Google Business? If yes I should say you are on the right path of advertising for your service without a cost. The concept of online advertising is for you to be seen and for people to find your service when they conduct a targeted search. In Part two of this series, I explained how you can set up your Google Business account. Here I introduce more online and offline advertising tools.

Offline Advertising Still Useful

When you offer a service like tutoring, it doesn’t matter if it is completely online, you still can offer it by advertising in your local grocery or gas station. The only difference is that instead of printing out a phone number, you might consider using your website or email address on the advertisement. I also suggest you print out a colorful image that emphasizes the online aspect of your service in this case tutoring.

Craigslist is another easy and low-cost advertising method. You just need to go to your local craigslist and sign up. The cost is $5 per each advertisement per month. That put your Ad on top of the list for the first few days but if you want to keep it there your need to repost it which means $5 each time you repost it. When creating your first post you need to be specific. Make it clear for people that searching for your tutoring offer. Use keywords like 10th-grade math, Algebra 1 and 2 for 9th and 10th grade, Spanish as a second language for elementary… I suggest you search for the same service as yours on craigslist to find out about other people Ads. Follow their steps, pick the relative information, and omit the others. Improve your text by adding your specific service or experiences. Make it personal by introducing yourself, and your teaching life. Don’t forget to select a meaningful title for your Ad.

Social Media Marketing

It doesn’t need to be a very professional, all integrated social media marketing. You just need to be you. A Facebook page, an Instagram account, or even a group chat in Telegram would help you to promote your service. There are many good resources including blog posts and videos about social media marketing but the one that I prefer is “How to use social media marketing for small business” that explains 21 steps of a successful social media marketing.

Paid Online Advertising

Paid advertising in the world of internet marketing refers to any type of online advertisement that you pay either for people interactions, or for purchasing your service or products. You need to prepare and post your advertisement on some platforms like google ad or Facebook ad. there different payment strategies for your advertising campaign, including PPC (Pay-Per-Click) and PPI (Pay-Per-impression).
for more details in this type of advertising, I refer you to my future post “How to Run a Successful Google Advertising Campaign?”