So I read this article on Forbes.com a while back that highlighted a recent study comparing male and female entrepreneurs and their respective levels of happiness. Who was the happier of the two? The women of course. Not only are they happier than their entrepreneurial male counterparts, they’re also apparently more than twice as happy with their well-being than non-entrepreneurs and non-business owners. All right then, that settles it. I’m starting a business… like now.
But uh, hold your horses Jackie. What’s this part here? The study, The 2013 Global Entrepreneurship Monitor (GEM) U.S. Report, also pointed out another interesting fact. Female entrepreneurs who are just starting out are less happy than male entrepreneurs in the start up phase. Aww damn. There’s always a catch isn’t there. There’s a pretty good explanation for this though. Turns out that just 7 percent of female-backed teams are able to obtain venture funding. So inevitably things are much more challenging in the beginning.
This isn’t all that surprising. After all, we women are still earning roughly 77 cents to every dollar earned by our male counterparts. It’s harder for us to get that promotion, land that deal and as evidenced by this study, it’s harder for us to find investors for our brilliant ideas. If you think about the fact that most venture capitalist are men, it’s got to be nothing short of a challenge to get them to not only understand your female-targeted business but also believe in it enough to want to buy into it.
What’s the moral of the story? Being a woman business owner is going to be hard as hell. At some times it may be downright depressing but there is a light at the end of the tunnel and the closer you get to the light the more you can bask in it’s warmth. (I totally just pictured my self in a tunnel dressed in white with my arms stretched out wide, head back, eyes closed, just taking in the satisfaction of running my own [wildly successful] show.) The writing is on the wall folks. Happiness levels among women entrepreneurs surge as their ventures mature. It’s in the study. Keep working towards your goal. It will be worth it in the end.
A little nugget #forthegram
Read more on the study here: The 2013 Global Entrepreneurship Monitor (GEM) U.S. Report
Thanks for reading. Now… “Let the power moves continue.”