How to strive, thrive and survive in a male-dominated industry
Running up a business is incredibly stressful for anyone.
By Christine Telyan for Thrive Global
You work long hours, you need to retain oversight and whatever happens, the buck stops with you.
It’s no surprise that entrepreneurs are 50% more likely to experience burnout. However, these challenges are often exacerbated for women.
Whilst more of us than ever are running companies (45% of US businesses are women-owned, according to recent reports), the story doesn’t end there.
Whether it’s the additional physical and emotional toll of running a household, or the extra effort that goes into being taken seriously in the workplace, it’s hard to ignore the added pressures many of us shoulder compared to our male peers.
There’s the chronic under-funding of women’s businesses (average loans given to female-owned companies is 31% smaller than those afforded to male ones).
And growth unarguably continues to a challenge for women’s businesses – they own only 32.6% of businesses with four employees or more.
It’s not conjecture to suggest that having overcome some initial obstacles, many women drop out at an earlier stage of the process than their male counterparts. This is likely down in no small part to the mental burdens we face in running a business.
So, what’s to be done about it?
Building a network
Creating effective support networks for myself in and out of the office has been one of the keys to helping me maintain the mental equilibrium to run a growing company.
It’s important to cultivate connections with people in your industry, especially with female mentors who have faced similar challenges and are well-placed to understand where you’re coming from on an emotional as well as practical level.
A problem shared is a problem halved. This is exponentially true in business: the more people you can turn to in times of trouble, the more specific you can be in seeking advice.
It’s undoubtedly true that women entrepreneurs will find a noticeably smaller pool of potential female mentors, recruits, business partners – but even in the most male-dominated industries, they do exist. Find them and leverage what they’ve learned.
If you’re struggling, look to the growing number of co-work spaces, business groups, and events aimed at women. Consider reaching out to female leaders on social media, via email, and at industry conferences.
Naturally, it helps to have your house in order too. In your domestic and personal life, it’s vital to surround yourself with people who understand, nurture and support your ambition.
I’m lucky enough to have a true partner in my co-founder, who listens and tries to understand the specific challenges I face.
