Women entrepreneurs’ problems are somewhat dissimilar from their male counterparts. If they are trying to launch/manage a business entirely on their own, then they face multiple problems which can be difficult for the female gender to cope up with. October is women’s small business month and that’s why I am writing this blog to spread the awareness about it.
Starting a venture can be pretty difficult for a woman as there are lots of strings attached that can be troublesome for her. As a woman, if you really want to make a mark, you need to come up with an idea that is viable. Then you need to make a perfect business plan which can be instrumental for you to get the coveted capital or financial assistance. After that, getting the help from a professional website design agencies to develop an e-commerce-ready website is the next logical step.
Managing a Business is not for the Faint-Hearted
But starting a full-fledged business is not for everyone. As mentioned above, the problems faced by men are different as for women. There are many ways through which women earn that extra income without getting into the nitty-gritty of business. But their effectiveness is a big question. Let me discuss with you 2 such aspects and its consequences:
- Doing Part-Time Jobs
Driving for Uber, doing small designing jobs on Fiverr and renting out rooms on Airbnb are some of the ways that women can do to get some extra money. But when you will look deeper and do the math about what you have actually earned at the end of the day, you will be surprised. For example, renting out a room for Airbnb will get you some bucks but you will have to take into account the amount you will have to pay for getting the room painted and cleaned after some months. Will that amount be more than you actually earned after a 3 month of renting your room? Think again.
- Multilevel or Network Marketing (MLM)
You can call it direct marketing too or referral marketing. It typically involves a pyramid and you need to create your network for making some income. It is often advertised that the amount of income you can earn is up to you but many studies have found out that not even 1% of the people involved in MLM earn something substantial enough. That’s why you should refrain from investing in such networks that only favor the top 1 % people who have started the chain.
Starting a Business is Not Easy
Although the above mentioned two aspects would make you think that these small jobs or referral networks won’t get you the extra income you are looking for and starting a business is the only way out. But as I have mentioned above, there are certain steps in this process which takes much time and effort. That’s why you need expert advice from a professional in this regard. A friend of yours who is running a business successfully can also come to your rescue in this regard.
A great logo is also an important factor in making a business tick. Just like the famous logos of Nike and McDonald’s are remembered by people all around the world, a logo design Auckland company can help you get a great logo that can be a catalyst in making your business tick. The following are the two main factors that you should keep in mind and can be termed as the major problems that can hinder a venture’s progress.
- The Profitability Factor
While you can get some advice in starting a business after some effort, in the end, what really matters is how much profit you are earning. If after all the hard work and burning the midnight oil, if you are earning just a few hundred dollars as profit in a month, that you can do by doing small gigs that I have mentioned at the start of this blog. So why so much hassle? You need to take a look at the following aspects in calculating actually how much amount you are earning a profit from your business.
- After Tax Amount
You may be earning thousands of dollars by selling your product, but the rate of tax and other deductions vary greatly from state to state and country to country. If your after-tax income comes down to few hundred dollars, do you still think that managing a business is good for you? You need to keep track of all expenses throughout the month or year and find a city or state where you can save a higher amount than your current city. In this way, you can get a lot of after-tax income.