5 Challenges Every Minority And Women Owned Business Must Hurdle
Posted on September 9, 2016 by Lioness Staff
According to the U.S. Census Bureau, the number of minority- and women-owned businesses is on the rise. There are now nearly 10 million women-owned firms in the country, which is a two million firm increase in the last five years. With minority-owned businesses also on the rise, they now make up over eight percent of the firms in the country. What many people don’t realize is that for a minority and women-owned business to succeed, they have to overcome some common challenges.
“Savvy Travelers is proud to be a certified minority-women owned enterprise,” explained Margarita Floris, co-founder and president of Savvy Travelers. “We have certainly overcome many challenges along the way, but we have learned from them, grown, and we are determined to let that work to our advantage, rather than for it to ever hold us back.”
While there are many challenges that minority and women-owned businesses must overcome, here are five of the most common ones:
- Being stereotyped. Many people think that all minority- or women-owned businesses are all the same. Always think outside the box and show that you are not the same as everyone else. Break the stereotype and put forth the business image you want to put out there, despite how others may want to stereotype you and put you into one little box.
- Overlooking self-promotion. It is common that a lot of women and minorities don’t feel comfortable self-promoting. This can seriously hold their business back from growing and getting noticed. Move past being uncomfortable about self-promotion and start focusing on how it can help your business grow.
- Learning to balance. Women are notorious for taking on too much. Between work life and professional duties, women can become bogged down and stressed out by trying to do too much. It’s important to learn how to say no, delegate tasks, and to find a good balance. Also, be sure to include ways to regularly reduce stress into your life, such as doing yoga, meditation, or engaging in another creative outlet.
- Proving they belong there. Women and minorities often have to prove that they belong there. If that’s the case, don’t shy away. Prove that you belong there and impress them with what your business can do for them and your professionalism.
- Being taken seriously. Many female entrepreneurs find that men are a little intimidated by them in the professional world. This is often because they don’t take the women seriously as professionals and they feel they are being replaced. Always stick to doing things that will showcase that you are a professional. As time goes on, the men will realize you are wanting to join them at the table, not necessarily replace them.
“The most important thing that minority-women owned firms need to remember is that they can make it past these hurdles, and they will love it on the other side,” added Tina Aldatz, co-founder and chief executive officer of Savvy Travelers. “The hard work is worth it, so don’t ever give up. The country needs more of us, so stand strong and carry on!”
Savvy Travelers is a certified minority-women business owner, certified through the supplier clearinghouse through the California Public Utilities Commission. The Savvy Travelers collection of designer beauty wipes are curated for the sophisticated on-the-go travelista. Savvy Travelers keep ladies fresh and fabulous from head to toe, one swipe at a time, offering monthly subscriptions, products in convenient kits and single-use packets that are disposable, eco-friendly and made in California! No Water? No Problem! www.SavvyTravelers.com/wipes.