10 Pieces of Entrepreneurial Advice For Women, From Women

Introduction

The future of entrepreneurship is female. Women-owned businesses represent 42% of all companies in the U.S., generate $1.9 trillion in revenue, and employ 9.4 million people. And we‘re just getting started.

However, the road to startup success is still riddled with gender-specific roadblocks. According to The Hustle‘s survey of over 100 female founders:

• 64% cited lack of access to capital and funding as their biggest challenge
• 54% struggle with establishing credibility in a male-dominated industry
• 49% find it difficult to balance entrepreneurship and family obligations
• 45% feel held back by entrenched social and gender norms
• 39% battle persistent feelings of self-doubt and imposter syndrome

In honor of Women‘s History Month, we asked some of today‘s top female entrepreneurs to share the most transformative lessons they‘ve learned in the trenches. Their collective wisdom serves as a roadmap for the next generation of women founders striving to beat the odds and build the future they want to see.

1. Reframe failure as a stepping stone to success

Many women are conditioned from a young age to avoid risk and fear failure. Entrepreneurship requires the exact opposite mindset. Every single successful founder has fallen down more times than she can count—the key is learning to get back up stronger.

As Spanx founder Sara Blakely famously said, "Embrace failure. It‘s one of the secrets to success that no one talks about. The difference between people who achieve their dreams and those who don‘t is the ability to respond to failure."

Some tactical tips to retrain your brain:

• Keep a "failure resume" to track rejections and setbacks alongside key lessons
• Share and celebrate failures with teammates to normalize calculated risk-taking
• Reflect on past failures that felt devastating in the moment but led to better opportunities
• Set "failure goals" outside your comfort zone and aim to rack them up

The most accomplished founders don‘t just tolerate failure—they actively seek it out as the fastest path to growth. Failure is never the end of your entrepreneurial story; it‘s the prelude to your epic comeback.

2. Build a tribe of mentors, champions, and peers

Entrepreneurship can be a lonely, draining journey, especially for women carving their own paths. Having the right supportive relationships can make all the difference.

"Actively cultivating a strong personal network has been one of my secret weapons," shares Christina Stembel, founder of Farmgirl Flowers. "You need people in your corner who deeply understand your experience, push you outside your comfort zone, and remind you that you‘re not alone on the crazy days."

Some tips for building your support system:

• Join online communities and attend events for women entrepreneurs to connect with potential mentors
• Ask for warm intros to experts in areas where you need guidance—people are often happy to pay it forward
• Offer your unique skills and connections to others; generosity begets generosity
• Set up a regular peer mastermind group to troubleshoot challenges in a safe space
• Schedule check-ins with "believing mirrors"—friends and family who reflect your strengths back to you

Data shows that 93% of women who have access to a mentor feel more empowered. Investing in authentic relationships isn‘t a nice-to-have; it‘s mission critical for your personal and professional growth.

3. Harness the power of your unique strengths and perspective

While the startup world is still largely a boys‘ club, that doesn‘t mean women need to change who they are to fit in. In fact, research suggests traits like empathy, collaboration, and vulnerability that are often labeled as feminine can be powerful leadership advantages.

"I‘ve learned to stop apologizing for being a heart-centered leader," says Majo Molfino, author of Break the Good Girl Myth. "My sensitivity, creativity, and resilience aren‘t flaws to fix—they‘re the secret sauce behind my success."

Here are some ways to cultivate your competitive edge:

• Write down three strengths that come naturally to you and brainstorm how to apply them to your venture
• Tell your unique founder story and infuse your authentic personality into your brand
• Build a values-driven culture that prioritizes EQ alongside IQ and promotes inclusion
• Gather feedback from diverse customers and adapt your solutions to meet their needs
• Trust your intuition, even (and especially) when it goes against the grain

According to a Boston Consulting Group study, startups founded and co-founded by women generated 10% more revenue over a five-year period. Bringing more of YOU to your business isn‘t just good for the soul—it‘s good for the bottom line.

4. Delegate like your success depends on it (because it does)

Women entrepreneurs have a particularly hard time asking for help. Whether it‘s a desire for control, a reluctance to spend money, or stubborn self-reliance, trying to do everything yourself is a one-way ticket to burnout.

Suneera Madhani, founder of Stax, admits learning to delegate was one of her biggest challenges. "As women, we feel like we have to wear all the hats and spin all the plates. But that‘s a recipe for running yourself into the ground. Trusting others to lead alongside you frees up your energy for the highest value activities."

Tips for mastering the art of delegation:

• Make a list of low-impact tasks you can hand off to others and start small
• Hire for attitude and train for skill—you can teach logistics but not a growth mindset
• Set clear expectations around deliverables, deadlines, and communication channels
• Recognize and reward team members who consistently follow through
• Learn to discern between fires you need to fight and ones you can let others handle

Scaling a thriving business takes a village. A study by The Alternative Board found that women entrepreneurs who strategically delegated grew their revenues nearly 3 times as fast. Empower others to step up so you can level up.

5. Prioritize profitability over growth at all costs

In Silicon Valley startup culture, hypergrowth reigns supreme. But a relentless focus on vanity metrics and unsustainable scaling can backfire, especially in volatile economic times. Women founders are flipping the script by building businesses for long-term viability.

"In my first venture, I bought into the ‘go big or go home‘ mentality," recalls Jaclyn Johnson, founder of Create & Cultivate. "With my second company, profitability has been my North Star from day one. Controlling my own destiny and staying true to my vision is worth more than any inflated valuation."

Strategies for driving sustainable growth:

• Set concrete revenue and margin targets to reach break-even and stay there
• Regularly review expenses and cut excess costs that aren‘t moving the needle
• Pursue diverse income streams like partnerships, licensing, and product expansion
• Incentivize your team for efficiency and resourcefulness alongside top-line metrics
• Consider alternative funding models like revenue-based financing and equity crowdfunding

Only 40% of women-owned businesses are profitable, compared to 60% of those owned by men. Rejecting growth for growth‘s sake and playing the long game pays dividends.

6. Get creative about funding your dreams

Raising venture capital is notoriously challenging for women founders. Last year, women-led startups received just 2.2% of all VC funding. While systemic bias is very real, it doesn‘t have to dictate your destiny.

"Early on, I got rejected by every single VC I pitched," shares Kara Goldin, founder and CEO of Hint. "Instead of letting that stop me, I got scrappy and raised money through savings, credit cards, and friends and family. I kept the faith until I found investors who believed in my vision."

Alternative funding ideas to explore:

• Angel syndicates and micro-VCs that focus on backing underrepresented founders
• Accelerators and incubators that provide seed funding and mentorship
• Crowdfunding platforms like iFundWomen and Kickstarter
• Small business grants, pitch competitions, and government programs
• Factoring, equipment financing, and other types of debt lending

While only 0.2% of women-owned businesses ever reach $1 million in revenue, 88% of those do so without any VC money. Don‘t let a few (or even a hundred) nos from funders dictate your company‘s potential.

7. Amplify other women and fight for change

The path to gender equity in entrepreneurship isn‘t a solo endeavor. Closing the gap requires women founders to lift each other up and collectively push for progress. When women support women, incredible things happen.

As women‘s health pioneer and founder of The Pill Club Liz Meyerdirk says, "Some of my biggest opportunities have come from female investors and entrepreneurs opening doors for me. I‘m committed to paying that forward to pave the way for even more women to follow in my footsteps."

Ways to be an ally and advocate:

• Go out of your way to make introductions and connections for fellow female founders
• Recommend talented women for speaking opportunities, awards, and media coverage
• Invest in women-led startups as an angel and fund underrepresented founders
• Mentor and sponsor up-and-coming women entrepreneurs in your industry
• Use your platform to call out bias and discrimination and demand better

A recent survey found that female founders who have a tight-knit circle of other women entrepreneurs are twice as likely to forecast revenue growth. A rising tide lifts all boats.

8. Practice money confidence to charge what you‘re worth

Women-owned businesses earn just 37 cents for every dollar earned by male-owned businesses. A big reason? Women tend to undervalue their products and services. Owning your worth isn‘t always easy in a world that constantly undermines it.

"In my early days, I charged a fraction of what my services were worth because I was afraid to lose clients," admits Devon Fata, CEO of Pixilated. "When I finally mustered the courage to double my prices, I was shocked that nobody batted an eye. That was a turning point in claiming my value."

Tips for conquering money blocks:

• Track your time diligently and quantify your results to combat underearning
• Practice discussing numbers and negotiating regularly to build confidence
• Research market benchmarks and lean on objective data to anchor your prices
• Reframe your offerings in terms of the solutions you provide instead of the tasks you do
• Address limiting beliefs about being "too much" with a trusted friend or coach

Studies show that self-doubt drives women to ask for $7,000 less on average in salary up front. Leaving money on the table adds up to serious cash over your lifetime. Bet on yourself and others will follow suit.

9. Embrace humility and a commitment to lifelong learning

In today‘s fast-paced world, what catapulted you to success yesterday won‘t necessarily sustain you tomorrow. The most successful entrepreneurs adopt a beginner‘s mindset and never stop seeking opportunities to level up their game.

Mariam Naficy, founder and CEO of Minted, swears by the power of "confident humility." As she puts it, "I‘m clear on my unique talents but equally clear that I always have more to learn. Hiring people smarter than me and admitting when I‘m wrong has taken me further than my ego ever could."

Ways to keep growing and evolving:

• Block out time to work on your business, not just in your business
• Attend conferences and workshops to sharpen your skills and stay on the cutting edge
• Curate a diverse bookshelf and set a goal to read one business book a month
• Ask your team, customers, and peers for brutally honest feedback
• Build learning goals into your annual plan and invest in your ongoing education

Deloitte research shows that organizations with inclusive leaders who display humility are 6 times more likely to be innovative. Embracing the discomfort of not knowing—and having the courage to admit it—is where true growth and genius happen.

10. Define success on your own terms and enjoy the journey

In the hustle-obsessed startup culture, it‘s easy to constantly move the goal post and delay your happiness. But no matter how many zeroes are in your bank account or what the press says about you, true success is living life on your own terms.

As S‘well founder Sarah Kauss shares, "When I first started out, I thought I‘d finally be happy when I hit X revenue or Y distribution milestone. But I‘ve realized that fulfillment comes from enjoying the day-to-day journey as much as the destination. There‘s no point in climbing the mountain if you don‘t savor the view along the way."

Prompts for creating your own definition of success:

• List your non-negotiable personal values and audit how you‘re embodying them now
• Reflect on how you want to be remembered by others and what legacy you want to leave behind
• Write your own obituary and use it to help prioritize what really matters
• Schedule regular off-grid time to rest, recharge, and connect with loved ones
• Practice gratitude for how far you‘ve come and celebrate small wins along the way

A landmark Harvard study found that entrepreneurs with greater work-life balance grow their companies just as fast as those who sacrifice it all. You can have a thriving business and a life well-lived. It all starts with you.

Conclusion

For women entrepreneurs blazing trails in uncharted territory, this advice from those who have gone before is invaluable. While there‘s no magic wand to make the challenges of growing a business disappear, applying these hard-won lessons can help you avoid common pitfalls and fuel your progress.

The road ahead is long but bright. Today, 40% of all U.S. businesses are women-owned, a jump of 58% from 2007. And Gen Z shows the most promise yet, with 62% of female high school graduates saying they want to start a company.

To the current and aspiring women founders reading this: the world needs your ingenuity, grit, and vision now more than ever. You may feel underestimated, but know that you‘re never alone. When you harness your unique strengths, invest in your community, and define success on your own terms, there‘s no limit to the impact you can make.

In the words of Bumble founder Whitney Wolfe Herd, "Undervalued is our greatest asset." Let‘s show the world what women entrepreneurs are truly made of.