Women Entrepreneurs account for over 30% startups in the US today, which is a significant number for any economy for its expansion. In India too, the number of businesses with women being the head are increasing each passing year. “It is very intimidating for a woman to enter the startup pitching room, for mostly all the VCs and investors are male and even the bidding candidature is male dominated.” says Priya, founder of a delhi based educational startup.
The existing glass ceiling in the startup funding zone, is bound to disappear as more and more successful businesses with women as Founders and Co-founder flourish and gain acceptance with the larger audience. Venture Capitalists are now coming out and revealing the fact that Women Entrepreneurs bring with them more pragmatic, well researched and fact based proposals with a higher possibility of success than their male counterparts.
VC’s believe that this is the golden age for Women Entrepreneurs to grow and flourish. The world has set the stage to put the bias behind and grow together for the benefit of everybody.
But, the fundamental question still remains unanswered: What should a female entrepreneur do get funded?
Mentioned below are top three investor hacks for women entrepreneurs:
Present before investors a well drafted, thoroughly researched business proposal backed by consumer data analysis
The biggest barrier to get funded is the inability of startup founders to communicate their idea strongly enough to convince about its viability. More than 60% of entrepreneurs fail the basic screening. They come unprepared, they haven’t evaluated their business model and are asking for money. Always remember, that even investors invest in businesses to make more money and benefit the society.
Conduct A Proper Pilot Before Approaching A VC
“Oh! So you are unsure of your target base yet? Just because your competitor is doing well, doesn’t mean you’ll flourish as well… what is unique to your proposition?” says a VC… With women the main problem is lack of confidence. They can be very easily swayed away from their idea… Which is the biggest turnoff!
Women founders on the other hand raise an important concern to counter this argument, ‘We do not have sufficient role models. Still to succeed we need a mentor, a guide, and whosoever believes in us initially, we tend to be influenced by them.’ says Saloni, founder of a wedding planning company.
Strategize For the Future
History has proved it time and again that only those businesses are successful in the long run which can foresee the future. Approach a VC with a roadmap of next five years. That way you are sure to take lead. Show them that the future of your business is bright and they will be happy to work with you.
Roar like a lioness, let the world’s perceptions not bother you, you are lucky to be a lady, for the lesser have achieved what you have set out for: Release! You are more free!, a subtle message hidden behind all the VC talk for Women Entrepreneurs.