4 success strategies every female entrepreneur should know

It’s not hard to find a networking event or entrepreneur these days across the Silicon Prairie. But the organizers behind Kauffman’s FastTrac program wanted to put together an event for a demographic that isn’t always well-served: female entrepreneurs…

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It’s not hard to find a networking event or entrepreneur these days across the Silicon Prairie. But the organizers behind Kauffman’s FastTrac program wanted to put together an event for a demographic that isn’t always well served: female entrepreneurs.

Last Wednesday as part of Kansas City’s Global Entrepreneurship Week events, Kauffman FastTrac hosted an event geared toward female entrepreneurs. The event featured discussions and presentations on topics ranging from marketing and branding to negotiations and legal issues.

“It’s interesting because you talk about things that should be of interest to any entrepreneur really, but the conversation just dramatically changes when you have a room full of women,” FastTrac vice president Michele Markey told SPN. “It’s dynamic. The energy and the vibe and the whole interaction is electric.”

Markey calls the event, which quickly sold out, a “tremendous success” and says she thinks the group hit on a need for other similar types of programming in the future.

We caught up with Markey to see what success strategies all female entrepreneurs should be utilizing as they build their business:

 1. Consistently think about how to keep your business relevant

Even for a more established business, Markey says it’s always important to be thinking about new opportunities to expand your services and grow. “Even years in, you still have to make changes. You still have bumps,” she said. “You have to be agile and consistently thinking about how to be relevant.”

Markey points to Katie Weiford, owner of Kookiedoodle Crafts, who helped host the event’s roundtable discussion about marketing. The local business’ summer craft camps have always been successful, but lately Weiford was looking for a way to expand the shop’s offering outside of that usual season. The solution? Now Kookiedoodle will be offering girls night out craft nights for adult creatives to come and experience what the shop has to offer.

2. Don’t be afraid to negotiate

Markey points to Linda Bobcock’s book “Women Don’t Ask” as one of many reasons Wednesday’s roundtable discussion about negotiating was so important. “Her research showed us that women are better for negotiating for other people than for themselves and that’s a paradigm we want to push on and help break,” Markey said.

3. Recognize there are other people in the same place as you

Above all else, Markey says that the event was an important way for FastTrac’s organizers as well as attendees to see the wide array of female entrepreneurs building their businesses in Kansas City, even if they’re not always the most present demographic. “If I’m doing this and maybe working out of my home, I’m very insulated unless I get out and attend networking types of events. But sometimes even those events don’t feel right for me because I might feel out of place or like I’m not far enough along. It’s about getting women out into these types of events to let them see there’s a vibrant community of other women that’s as diverse as you can imagine.”

4. Work-life balance is a myth

For women, Markey says one of the most important myths to dispel is the focus on work-life balance. Instead, she says it’s important to evaluate what’s most important to you and make those things a priority: “Each individual needs to determine their vision and values and see what’s important for them. Mine is going to be different than yours and vice versa.”

“You need to think through what it is that’s important to you—whether that’s giving back to the community or making time to exercise—and not be apologetic about that. Some days as an entrepreneur you’re going to be working 14 hours, and that’s ok. It’s going to happen.”

This story is part of the AIM Archive

This story is part of the AIM Institute Archive on Silicon Prairie News. AIM gifted SPN to the Nebraska Journalism Trust in January 2023. Learn more about SPN’s origin »

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One response to “4 success strategies every female entrepreneur should know”

  1. Chelsea Avatar
    Chelsea

    All of these challenges are relevant to male entrepreneurs, as well. Why assume that females will struggle more with work-life balance, or negotiating?