Tag Archives: Female Entrepreneur

I procrastinated on this article for too long but today is the day where I need to write it. Why? Because I almost fell into the trap, the trap of self-exploitation, self-damage and nearly ruined myself in the process. I was wondering for a while why many female entrepreneurs and freelancers allow themselves to work for little money or even free. I came across seven reasons that I want to share with you. I’m hoping for a discussion on how we can avoid exploiting ourselves as female entrepreneurs

If you are the partner or husband of a female entrepreneur maybe you also want to know how you can support her.

Here are seven reasons why you are not making enough money

1) Your basic needs are met

Guess what, if you are having a roof above your head and food on the table you are privileged. If you can openly express your concerns you live in a great country. Still, how will you pay for your old-age pension? What if something happens to your partner and your savings are eaten up too quickly?

2) You are wealthy

You were born with a silver spoon or your parents already gave you an inheritance that won’t make you worry about your bank account anymore. You can actually work for free and volunteer for good causes because you are a princess. Well, congratulations! Maybe you could consider helping other women get their business off the ground.

3) Imposture Syndrome

You think deep down inside that you do not deserve to be paid adequately for your work and that everything you have achieved so far happened by luck or by an alignment of the stars. You are worried that one day you will be called out an imposture.

4) Fear of Competition

You keep your prices low, because you feel that there are hundreds of other women in the canton of Zurich or around the globe with a similar skill set and with similar profiles. You are working in a space where competition is high because you have not found your niche. Your brand is not recognizable and you are not even proud of yourself.

5) You are not clear about your potential clients

You have not defined your client group narrow enough and you think you can work for everyone and with everyone. Potential clients don’t feel that they are in the right place because they are not sure you can cater to their specific issues.

6) You lack tech skills

You don’t understand digital and social media marketing and you are worried about putting yourself out there because it could create actual work for you. You are afraid of using the Internet, your name and photo because of scammers, stalkers and robots.

7) You don’t have a network

You rely too much on tech, digital and social media marketing and potential clients are used to freebies and free-everything. You cannot get out of a place where everything is thrown at potential clients for free into a space where clients are prepared to pay for your products and services. You lack a good offline network and former clients who are willing to give a reference for you.

How can you solve this issue for yourself? As a first step, I would suggest to have a chat with me so we can discuss what is really blocking you from success.

Cheers

Angie Weinberger


In a continuous effort to counter-balance my fear of failure, I like the experience of “lack”. I’ve been a solopreneur for more than four years now and slowly slowly I see signs that the business is out of the nappies and has become a kindergarten child, ready to stay on it’s own with her other small business friends during the day. When I come home all she needs is a bit of checking on (bank balance), a bit of nurturing (invoices and business development) and a bedtime story.

I “practice poverty” by letting essentials such as coffee run out, living with an empty fridge, not having printing paper, wearing old shoes and asking the hairdresser for an extension of payment terms.

I would not say that my company is “successful” or broke even yet. Compared to others our growth is slow and this year I took on a job to cover my living expenses. Still, we send out invoices every month and we have a number of regular clients. The client base is becoming bigger and to my amusement former clients send us their wives and husbands.

I love to be the “family coach”. As a career woman I believe that the interests of the career-driving and the caretaker role need to be more balanced in most marriages. I also believe in long-term relationships and I know that with most of you I will be contact for a lifetime. Still, there are days when I feel like a failure or when I am concerned about ending up under a bridge.

Running a business requires that you confront your fear of failure every day.

When you “practice poverty” you watch all your resources better. In the first-world we are used to luxury and constant access of resources. Switzerland is highly productive because of stability, access to resources and a highly skilled workforce. Here, we cannot imagine a life where you cannot afford to buy anything, not even a cup of coffee. My aunt thought I was kidding her when I told her I did not have money to buy coffee last month. She saw that I was paying easily for our holiday in Italy but she could not see how I live without a certain standard.

I invest in having a cleaning person so I can use my time for the business, my loved ones and myself. I have months where I cannot pay the rent or run out of money to buy coffee. I admit, I was never good with saving money. I always had enough since I went to high school. In order to improve my business cash flow I had to learn to manage my finances better. Maybe you are in a similar situation and profit from my advice below.

I have summarized my learning in “seven cash flow habits for solopreneurs”.

1) Budget vendor expenses and pay in advance

I tend to create a lot of work around myself. In corporations usually my team would be happy to be involved in several projects but in my own business my supporting freelancers can be overwhelmed with the amount of work I ask them to do. About two years ago I started to pay them in advance either on a quarterly or yearly basis. We sometimes stop to work before the end of the year as we are out of money. I had to abandon projects due to a lack of budget.

2) Invest in your Business Priorities

Once you have clarity about what your clients need and how you can help them be more successful you will also know where your priorities for investment should be. Invest in those and abandon the rest.

3) Pay for Survival Tasks

You have survival tasks in every business such as invoices, accounting, making appointments, following up on conversations with prospects, digital media marketing and web-design. Not all of these tasks are your business purpose so you should pay someone to do them for you.

4) Maintain a Wish Book

To avoid impulse purchases I am writing all my wishes into a wish book. I used to buy a lot of books and many haven’t read yet. I don’t do that anymore. I used to have clothes that I did not wear. Not anymore. And I had a lot more shoes.

5) Date a Cook

In Switzerland dining out is very expensive and one of my good decisions was to date a man who loves to cook. Even though my cooking skills have lessened we enjoy a good home-made dinner almost every night. I am thankful for this.

6) Nurture your Spirit, Body and Soul

When we feel fulfilled either through our work or our contribution to the world or through little acts of kindness every day our spirit, body and soul are nurtured. When we feel full of love we do not need consumption to comfort ourselves.

7) Abandon Credit Cards

It’s almost impossible to live without a credit card in our society but I only have a business credit card now so I need to justify my expenses to my accountant. My bank does not give me credit either. So I cannot overspend. It helps.

 

I am moving out of my comfort zone with this post showing you one of my biggest weaknesses and how I handle it. Let me know if it helped you and if you have any questions.

 

Nine budgeting ideas for the start-up entrepreneur

Powerbreakfast #1

In March I had the honor to talk to a group of highly motivated female entrepreneurs at the #Powerbreakfast of the Powerhouse Zurich (Follow @Powerhouse_ZRH).

A key quote they selected was “Your Mood defines your Business”.  I know that mood can be influenced and as an intercultural executive coach I help you to reach a state of “relaxed attention” from where you can follow through your plans while at the same time keeping your energy level. However, being an entrepreneur I can tell you that I also sometimes fall out of my state of relaxed attention into either creative-overengaged–workaholic or phlegmatic-I-cannot-deal-with-all-of-this-at-the-same-time (staring into the empty space as if I was looking at someone). 

I had to accept as a manager, leader and business owner that there will be times when I am losing it.

Did you ever feel like you lost the overview, lost the focus or lost yourself?

Usually this is the time where I consult either my male coach or my female coach (depending on what I need). No, you are not calling your father or your mother, because honestly when you are beyond 40 you deal with this sh** professionally. And then once you paid your 350 CHF per coaching session and worked out your limiting beliefs and a few not-very-helpful-behaviors you get back on track. And then (whoo-hoo) success flies at you at rocket speed. (It’s true…after every crisis my business takes a leap).

In my talk on 5 March 2015 I went through nine rules I have developed over the last three years of running my business Global People Transitions GmbH.

They have been kindly summarized by Mirka Schaller in this one-pager. Let me know if you have questions.

 

Powerbreakfast #2