Why Women Don’t Start Business?

According to the Global Entrepreneurship Monitor (GEM) report, only seven women start businesses for every ten men. There is a big “confidence gap” between male and female entrepreneurs.

Here are the main reasons why women hesitate to start their own businesses:

  • Women are less confident

    About three-quarters of both male and female entrepreneurs start businesses to pursue an opportunity, but men show more positive perceptions about opportunities and their own capabilities, as well as lower fear of failure. Women are inclined to take fewer risks.

  • Women use their savings, men get loans

    On an average, women start their businesses with a median amount of $8,000; men had $30,000. Women were also more likely to use their own cash or borrow from family members, while men got bank loans. With fewer funds to start a business, women have little or no scope for taking necessary steps.

  • Men are more likely to know other entrepreneurs

    It seems contrary to the general norm of women as social connectors and men as isolated individualists, but men are more likely to have robust professional networks when starting their businesses. They were also more likely to already know someone who had branched out on his own, providing them with a valuable source of information.

  • Content with life

    Women are content to live their lives peacefully, calmly without any stress brought about by starting a business.  For most of the women, money is not a motivator. And if it is, they feel that they can get it from their jobs working within an organization, instead of starting a new venture.

  • Responsibility of managing family

    Women always have to struggle to balance career and families. Starting a business involves a lot of dedication. Women feel they cannot devote that much time while handling household responsibilities.

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Start-up Advice for Women Entrepreneurs

women-entrepreneurs

More and more women are starting their own businesses and getting aware of the opportunities available outside their 9-to-6 jobs. But, for women it is challenging to focus on their new mission, as they have to struggle to strike work-life balance.

Here are the few tips that may help them to start a new business:

  • Find your passion – You are going to spend long hours working for your business, so pick an industry that you don’t just like, but are passionate about. When you are passionate, it shows, and your enthusiasm and belief in what you are doing translates to your customers, sparking their enthusiasm about what you are offering.
  • Keep your home and work life separate – It is important to set aside time for both personal and work lives, in order to give each the attention it deserves. Set specific office hours and unless there is an emergency, stick to them. Train yourself to work during office hours and do not accept calls or check emails after hours. Your customers and clients will also conform to your schedule as long as you stick to it.
  • Don’t pay attention to any disadvantages – Don’t put any energy into wondering if you have different challenges than any other leader or business owner because you are a female. If you are good at what you do, that’s all that matters.
  • Be positive, flexible and patient – It takes a good amount of time to build a business. Continue to have a positive outlook and don’t stop believing in yourself. There has never been a successful business owner that hasn’t run into some challenges!
  • Don’t let the lack of confidence or fear hold you back – Women are generally more afraid of failure than their male counterparts. Moreover, cultural traditions also discourage women from taking leadership positions. Women are less confident than men in starting businesses. Don’t let the fear of failure stop you from being an entrepreneur.
  • Believe in yourself – Actually, women have better communication and consulting skills, are more caring and loyal towards their organisation and peers and, compared to men, are less competitive, confrontational and aggressive, and less driven by money. They are far more dynamic and capable than previously believed. So, believe in yourself and be a leader!
  • Get the right support – Seek out networking groups, coaches and mentors that will not only cheer you on, but challenge you to take your business to the next level. Network with other businesswomen in your field that can give you an eagle’s view of what’s working and what’s not.

If you are dreaming of setting up your own business, log on to TheGongzuo.com. We will help you in launching your start-up.

Top 6 Challenges Women Entrepreneurs Face

Entrepreneurship was once considered a man’s domain, but numbers are now changing. According to 2015 data from the National Association of Women Business Owners, more than 9 million U.S. firms are now owned by women and they generate total $1.5 trillion in sales.

Although more women are becoming entrepreneurs, they often face a set of challenges not typically shared by their male counterparts. Female CEOs have stated some of the key challenges that they face –

  • Confronting social expectations – When women entrepreneurs have to talk business with primarily male executives, it can be unnerving. They may feel as though they need to adopt a stereotypically “male” attitude toward business: competitive, aggressive and sometimes overly harsh. But successful female CEOs believe that remaining true to yourself and finding your own voice are the keys to rising above preconceived expectations. Women need not adapt themselves to a man’s idea of what a leader should look like.
  • Limited funding – The hardest part of starting a business is raising capital. It gets all the more difficult for women-owned firms. Venture capitalists tend to invest in start-ups run by people of their own “tribe” meaning, venture capital firms with female partners are more likely to invest in women-run start-ups. But, that accounts for only 6% U.S. firms. Women looking for business investors should build confidence through a great team and business plan.
  • Own your accomplishments – Women tend to downplay their own worth. When they talk about their company or achievements, they tend to use the word “we” instead of “I”.  Using the first person to discuss successes feels, as if they are bragging. They need to have confidence in running a business. It’s important especially when their ideas receive more scrutiny than their male colleagues.
  • Building support network – With the majority of the high-level business world still being dominated by men, it can be hard for women to create their own path. Lack of advisor and mentors is one of the major blocks that limits professional growth. They could start networking with other women through groups and forums created specifically for women in business.
  • Balancing business and family – Work-life balance is a goal of many entrepreneurs regardless of their gender, but mothers who start businesses have to simultaneously run their families and their companies. And in this area, traditional gender expectations often still prevail. “Mompreneurs” have dual responsibilities to their businesses and to their families, and finding ways to devote time to both is key to truly achieving that elusive work-life balance.
  • Coping with a fear of failure – Women need to stop worrying if people will treat them differently in business because of their gender and they also need to stop comparing themselves to others, including men. The bottom line is, if you’re successful, no one cares whether you are man or a woman.

12 Tech Startups With Women Founders

Women population in tech world is low, but a positive sign is that they are taking action! Many aren’t waiting for companies to give them leadership roles; instead they are launching their own businesses.

Here is the list of tech start-ups owned by females:

  • AdmitSee – This start-up seeks to bring transparency to the college and grad school application process. It makes easier for students to get admitted to college. Students can find the profiles of other students, see where others have applied and got accepted, strategize their own applications and can even get access to successful college essays. AdmitSee transforms an overwhelming, time-consuming grad-school admission process.
  • Dot Laboratories – Dot offers diagnostic tests for endometriosis. Dot is creaking a path for early awareness; their technology will arm women everywhere with the knowledge they need to make critical health decisions.
  • FINDMINE – FINDMINE runs product catalogues and retailer looks against user data. They then match your goods to shoppers’ tastes. This means shoppers see their perfect outfit on the website, in ads, in emails, etc. It leverages the power of data! Retailers use data to cater to customers and personalize marketing.
  • Give InKind – A platform dedicated to providing comfort for those who need it, from organizing meal delivery to products to advice articles. Taking the hassle out of providing care for loved ones is a great concept.
  • Indian Moms Connect – This is an online community for Indian moms. They share stories, tips, recipes, you name it. It’s all user-generated content, which creates an immediate sense of community. Plus, they have great product suggestions embedded within their content.
  • Pace Match – Pace Match helps you find a running partner who lives near you, and whose speed matches yours. This was the result of a developer using her spare time to play with a runner’s API—and she realized that speed was the ultimate data point.
  • ResultCare – An app dedicated to evidence-based medicine. It factors in cost so that clinicians can make smarter decisions. Healthcare is begging for innovation and the fact that this app takes costs into account is the key.
  • Stilla – The smallest security system that fits into your hand. It can link to anything—a door, a bag, a laptop—and it will alert you if the object moves. The ease-of-use aspect here is fascinating. You can use the system for the objects you need, when you need it.
  • Vidcode – A JavaScript coding platform targeted to teens. Platforms like this, that teach code in a fun, respectful manner, are in high demand.
  • Hitlist – Hitlist lets you build wish lists of places you want to travel to. When there are fare deals for those places, Hitlist will send you an alert so you can buy tickets cheap.
  • Control – Control helps businesses manage the payments they receive online from customers. Businesses can manage multiple accounts with Control on different devices (mobile on iOS or Android, or with the desktop web app).
  • Shippo – Shippo wants to shake up the shipping industry by making it cheaper and easier for online marketplaces and merchants to send you your stuff. Shippo’s software lets e-commerce companies connect with different shipping providers to get better rates and labels at a low cost.

If you are one of those women, who dream of starting your own business, but hold back due to certain reasons, get inspired by these women. We at TheGongzuo.com will help you launch your dream. Register at our website for free and let’s get started!

Women Who Rock The Tech World

The tech world is fast-moving, highly competitive and male-dominated. But some of the most prestigious and best-remunerated roles are held by females.  These women are steering in a new era of female tech leadership.Below are the most powerful women in tech from around the world in 2016.

  • Sheryl Sandberg – COO, Facebook – In June 2012, Sheryl Sandberg became the first woman to serve on Facebook’s board of directors. That same year, she made Time’s 100 Most Influential People list. She supporting continued growth at Facebook and has also promoted initiatives to address the gender gap within the tech industry and is on the board of Women for Women International.
  • Susan Wojcicki – CEO, Youtube – In 1999, she joined Google as their first marketing manager and worked her way up to senior vice president of Advertising and Commerce. After overseeing Google Video for some time, Susan proposed that the company acquire Youtube (which at the time was a small start-up). She later handled two of Google’s largest acquisitions: the $1.65 billion purchase of YouTube in 2006 and the $3.1 billion purchase of DoubleClick in 2007. In February 2014, Susan was appointed CEO of YouTube.
  • Ginni Rometty – CEO, IBM – Ginni heads IBM, serving in the capacities of Chairman, President, and CEO. She is the first woman to do so. Since 1991, she has held various important roles at the company and was appointed CEO and President in October of 2011.
  • Meg Whitman – CEO, Hewlett-Packard – Meg Whitman has a long and varied career, serving as an executive for numerous high-profile companies. During the 1980s, she was vice president of strategic planning at The Walt Disney Company. In the 1990s, she worked for DreamWorks, Procter & Gamble, and Hasbro. Then, from 1998 to 2008, she served as president and chief executive officer of eBay.
  • Marissa Mayer – CEO, Yahoo – Marissa has been the current president and CEO of Yahoo! since 2012. Prior to her employment with Yahoo!, she worked at Google as an executive and spokesperson for over a decade.
  • Safra Catz – Co-CEO, Oracle – Safra has been with Oracle Corporation since April 1999. In October 2001, she joined the company’s Board of Directors and was named President of Oracle Corporation in early 2004. From November 2005 to September 2008, and from April 2011 to the present, she also served as the company’s CFO. In September of 2014, she became co-CEO, along with colleague Mark Hurd.
  • Angela Ahrendts – SVP, Retail, Apple – Angela is new to the tech industry, but not new to leadership positions. She served as the CEO of Burberry from 2006 to 2014, before leaving to join Apple as the Senior Vice President of Retail and Online Stores. In 2014, she was Apple’s highest-paid executive, earning over $70 million.
  • Ursula Burns – Chair-CEO, Xerox – In July 2009, Burns became the first African-American woman CEO to head a Fortune 500 company. She had worked for Xerox since 1980, beginning as an intern and climbing through the ranks for the next three decades. President Obama appointed her vice chair of the President’s Export Council in 2010
  • Ruth Porat – CFO, Google – After working with Morgan Stanley for decades, serving as their Chief Financial Officer and Executive Vice President from January 2010 to May 2015, Ruth Porat became CFO of Google on May 26, 2015.
  • Renee James – President, Intel – Renee James has worked at Intel for over 25 years, serving in a variety of roles. She became President of Intel Corporation in May 2013. Renee is one of Silicon Valley’s most prominent female executives and Intel’s highest-ranking woman ever.

Technology still has a reputation for being a male-dominated field, but these women and many others are proving that gender is no barrier to success.

Why Do You Need Career Counselling?

Every day different careers and professional opportunities are emerging. No matter how much interest you have in more than one field, you will have to prioritize and choose the best option for you depending upon your strengths, weaknesses, interests, personality and aspirations.

Whether you are in the process of choosing a career, deciding whether or not you should change careers or jobs, re-entering the workforce, job hunting, or recovering from a job loss, you may realize that this is an overwhelming process and you need some help.

Reasons to meet with a career counsellor:

  • You have no idea what you want to major in
  • You have a major but do not know what you want to do with it
  • You want to take an assessment to explore possible careers to help with career decisions
  • You need to start your job search but you are not sure what you are looking for
  • You completed an internship and discovered that your chosen career is not a good fit for you
  • You want to discuss your future with someone other than your friends or family

How will a counsellor help you?
A good career development professional can help you explore career options, can inform you of labour market trends, and can assess your skills, interests, and work related values. A career development professional can help you sharpen your job search skills, and can help you learn how to move up the corporate ladder.

A counsellor helps students discover their true potential and interest in various subjects in order to help them choose the right career. Several institutes including schools and colleges, offer career counselling through a series of aptitude and IQ tests. The advice and counselling provided is based on three deciding factors — personality, aptitude and interest.

Before hiring counsellor or coach, do your homework. Explore free or low cost online and community resources. Join job clubs and career workshops. Learn about jobs and market situation in your area. This will tell you what positions are in demand. Check out salary information websites.

A word of caution
Career counselling and coaching are unregulated fields, meaning anyone can claim himself/herself to be a counsellor. So, be sure to check the credentials and experience of your prospective consultants. The bottom line: Success in landing a good job of your interest is up to you.

When you find your niche area, register on TheGongzuo.com to search the perfect job you are dreaming of!

8 Things That Makes Your Resume “Unprofessional”

You have the right skills and experience and now you are eager to move ahead with your career. But, if your resume fails to convince your prospective employer, you will have a hard time getting a new job. Resumes need to be used as a personal marketing tool. You need to focus on its style as well as contents. Prioritizing your accomplishments in the right order is very crucial.

Here are the issues which could hurt your resume and make it look ‘unprofessional’.
  • Formatting – If your resume ends at the middle of the page or above, leaving more than half of blank page creates wrong impression on employer’s mind. He/she may infer that this candidate does not have much to say about his education or experience. This doesn’t mean you have to stuff your resume with fluff. Describe more about what you have done, what you know, and how you can contribute to this job. Fill that white space with meaningful information that can set you apart.
  • Fonts – Your prospective employer should notice the actual text or words in your resume and not the font! No Comic Sans font for resumes. Do not use colors, curly-cue fonts, and clip art. Keep your total font styles—including different points/sizes, bold text, and italics—limited to four.
  • Keep personal life out of your resume – Try to keep references to your children, marital status, age, lifestyle, and religion out of your resume. If you have worked for any religious organization etc., let only its name talk about it. Don’t add additional details on your own.
  • Grammatical errors and spelling mistakes – All grammatical errors and spelling mistakes are a problem in a resume, but some may cause a proportionally higher level of damage than others.
  • Negative statements – Watch out for negative tone of the resume and edit it immediately. For example, statements like “I was not happy with my last job profile” sound negative. Instead, you can write “I learned a lot during my last job and now ready to move on”.
  • Sending unprofessional photo – If a photo isn’t specifically asked for in the job application process, don’t send one.  If it is asked for, make sure that it portrays you as professional and personable.  Send a photo where you are dressed nicely and smiling.  Use your judgment.
  • Sending blank email with resume attachment – In your email, you should type a simple greeting, explanation of who you are and what you are sending. Sending blank email is not at all professional.
  • Sending resume to multiple employers in the same email – If you do this, your email will most likely get deleted!

Avoiding these mistakes is as easy as stepping back for a minute, proofreading, and engaging your common sense.

Invest enough time in writing your resume and when you are ready to apply for a job, register on TheGongzuo.com for free. Top IT companies are eager to hire professional employees. They will call you for an interview only if your resume reveals your professionalism!