Now that we're in the 21st century, people may be expecting that women, or at least most of them, are now being paid as high as men. While the wage gap between the two sexes is indeed progressively decreasing, the difference remains crystal clear. The U.S. Census Bureau reported that women's median annual earnings are nearly $10,000 less than men's.
The pandemic has made it even worse, since women make up a substantial percentage of workers in the most affected industries, like restaurant chains. 70% of restaurant servers are women, who earn 79% of what men do.
Therefore, a growing number of women are being encouraged to become entrepreneurs, instead. 1,072 women-founded companies are started day by day, overall making 38% of businesses in the country owned by women.
That said, how should you do business as an empowered woman who aims to influence other women to be as empowered?
Find Your Passion
While your chosen product or service is highly important, it is your passion that will largely determine the success of your startup. You can offer any product or service essential for women, but if you're not passionate about running the business, your efforts will hardly bear fruit. Starting a business is by no means an easy feat, and you'll face a lot of setbacks. But if you love what you do, all the blood, sweat, and tears you've poured out for your business will be worth it, and your consumers will feel it in every product or service they receive from you.
Build a Brand With a Story
Some consumers may assume that your success is achieved overnight. Be transparent with your fellow women, and share your brand's story with them, highlighting the ups and downs. Communicate the inspiration behind the brand, which is to inspire other women to be stronger and feel more confident. Your brand's story can also encourage other aspiring women entrepreneurs to finally breathe life to their business ideas.
Show Off Your Talent
If fashion designing is your talent, go for it, and reach out to a niche in the market who will most likely be interested in your designs. If cooking or baking is your passion, let people experience your recipes, and prove that women who thrive in the kitchen aren't powerless at all.
For the more introverted types who yearn to express themselves more boldly, you may have a talent in content development, such as blogging, photography, graphic design, or animation. Build your website through the help of reputable web developers like Interactive Blend and many others. With high-quality content and an ever-improving portfolio, your freelance gigs will turn into a prosperous business in no time.
Women social media influencers are also on the rise, so if you have a flair for public speaking, entertaining, showcasing your talents, or sharing motivational stories, you will definitely gain a huge following, and lots of other women and girls will look up to you.
Another great business idea is conducting hobby classes, where you can teach children and adults arts and crafts like pottery, jewelry making, cake decorating, makeup, and so on. When young girls see you enthusiastic about teaching, they'll be more driven to be better at their chosen craft, gaining more confidence.
The increasing emergence of female entrepreneurs, a.k.a girl bosses, show that women are perfectly capable of out-earning men, and being just as vital to the society as them. With the gender pay gap persisting and is not seen to close until 2059, there's no better time to invest in a business than today.