How Women can Sustain in Startup Ecosystem?

How Women can Sustain in Startup Ecosystem?

By: WE Team | Tuesday, 18 August 2020

We all are aware of the fact that startups play a major role in contributing to the Indian economy. But, the gender bias in the country has not spared the startup ecosystem as well. According to sources, about 83 percent of opportunities are grabbed by startups founded by men, and the other 14 percent by the startups co-founded by men and women and just three percent of deals could be acquired by women-run startups. The numbers indicate that the women who start a business all by themselves are sidelined in the startup ecosystem.

 Usually, about 90 percent of startups tend to fail at some point of time for varied reasons, and the chances are pretty higher when it comes to women-owned startups. Society always brings in the difference between a boy and a girl child and considers boys to be more creative and efficient than a girl and this mindset has reached the startup ecosystem as well an ecosystem where it shouldn’t. Hence we bring here a few strategies for women to sustain and grow in the startup ecosystem.

Clinging to Your Pursuit
Being passionate about work is the sole mantra to become a successful entrepreneur. One's passion is the driving force to trigger them to bring out a new idea and grab the available opportunities. Also, to have a strong passion for their work, one should opt for that sector they are interested in which in turn would keep them intact and motivate further to push their boundaries to achieve big and accomplish their dream.

Dedicating Long Work Hours
Staying away from home for a long duration is itself the biggest challenge for women in our society. This challenge includes family restriction, peer pressure, and safety issues. But, to achieve big in the startup ecosystem women have to break the stereotype and be available 24/7 for their work. Generally, the clients tend to hesitate to work with women as they are not completely available during odd hours or weekends. Thus, addressing this issue and being available to the maximum would project the dedication towards the business which would take the company to the next level and also gain good reviews adding to bring in new clients and opportunities.  

Restricting Intimate Circle
Setting a time frame to converse with family and friends apart from an emergency is vital, as they may not be aware of your situation and commitments. Thus, it is ideal to communicate the time you would be available, which would save the work and make one more productive by keeping the distractions at bay. 

Communicating Precisely
In the startup ecosystem, it could be common to have a frequent change of plans and priorities. Thus, the entrepreneur should focus on monitoring every task assigned and encourage clear communication. If something is not working according to the plan then, it is better to know it prior than at the last hour. Hence, encouraging all the teams to constantly post the latest update of the tasks assigned. Also, regularly tracking every team to ensure they are working intact towards the set goal.

Striking Work-Life Balance
Maintaining work-life balance is very important to keep achieving sprit high. But it isn't that easy to strike the right balance. One could analyze what interests them the most and derive time from their busy schedule to indulge in that; it could be hanging out with friends, family time, me-time, shopping, and more. Involving in such revitalizing activities would energize the individual and they could get back to work with a bang and full of enthusiasm the very next day. But, if they can't devote maximum time for family time or so they can consider opting for working from home for some evening and spend some time with family and still be available for the scheduled meeting or other tasks.