Women are taking leaps and bounds when it comes to business. In fact, women own 36% of businesses according to the 2012 U.S. Census—proving a steady increase since 2007 when women owned 30% of businesses. With women running over 9 million companies in the U.S., it’s evident that women are taking major strides in the workforce.
So what exactly are women entrepreneurs doing to keep increasing their presence in the business world? For starters, women are embracing their ideas and creativity full-heartily. Take Payal Kadakia for example. After pivoting from a failed fitness clothing idea, Kadakia came up with an incredible startup with her co-founder, Mary Biggins. Together, they came up with ClassPass, a startup that allows users to pay a flat rate each month—granting access to a wide-range of fitness classes and gyms. ClassPass has blossomed in more than 30 U.S. cities and has raised $85 million from investors.
One of the keys to success as a budding entrepreneur is to keep your focus specific. Taking on too much at once will complicate things and make you appear “okay” at a few things rather than an expert at one thing. Sara Blakely, the founder of SPANX, created a wildly successful product at age 29 from her life savings of $5,000. After Nieman Marcus decided to buy the product, SPANX took off and gained major traction from celebrities like Oprah, Madonna, and Gwyneth Paltrow. SPANX started out with a simple product and after earning a secured spot in the market, expanded to include several other clothing items.
On top of embracing creativity and keeping a specific focus, women entrepreneurs are not afraid of finding funding. Stable investments are critical to support and leverage a startup during the initial phases of launching. Although the pitch process does tend to sway in men’s favor, women are beginning to earn more of a presence among investors and VC firms.
It’s very exciting to see how women empowerment in the entrepreneurial field is gaining traction. What are your thoughts on the rise of women entrepreneurs? Tweet @StarterNoise to let us know.
Derek Rundell, is a successful business leader, operator, and serial entrepreneur. Derek has founded, managed and sold businesses in the technology, media and finance industries. He sits on several boards and serves as an advisor/investor to numerous established businesses and startups. Startups are Derek’s real passion, and in addition to building his own portfolio of technology, media and financial ventures, he invests in and mentors startups and entrepreneurs. He is passionate about sharing his knowledge and helping other businesses succeed.