4 Main Challenges Facing Businesswomen

Women have continuously excelled in business in the last decades. Whatever was initially considered a men’s territory is no longer the case. More women are becoming prominent entrepreneurs by launching companies of their own. Despite the positive steps taken by many women to venture into businesses, they still face many obstacles. This article will seek to discuss the four main challenges faced by women who are enthusiastic to venture into business. Marked by commitment, hard work, and achievement in her career, Susan McGalla, offers her expertise based on her experience. She is the one who began of P3 Executive Consulting. When it comes to marketing strategies, McGalla on wikinvest is a top consultant.
• Limited cash flow. Very good business plans eventually fail due to inadequate cash flow. As a matter of fact, no business will survive if the cash generated by the business is not enough to pay the rising expenses. For women, this has been a big challenge and has forced many out of the business. But if proper strategies are used, this problem can be solved and corrected. For instance, having a proper credit service from a bank or unions or using a correction process that takes care of aging invoices. Through this, a business will have a consisted cash flow.
• A poor referral marketing strategy. There are days when cold calling was an important marketing strategy. Today, it is ineffective compared to a strategy that involves networking such a referral marketing. Many businesswomen have failed to use effectively this method to market their businesses thereby not gain more sales.
• Lack of a strategic plan. For the business to succeed, it must focus on the long time goals as opposed to what is currently happening. The successful women in business have their business characterized by thought out strategic plan. Many women who find themselves struggling in business lack properly set goals for their businesses both in the short run and long run. Proper planning offers the business an opportunity to take care of the future as well as keep their focus on the important areas that can give longer periods of sustained growth.
• A poor social media strategy. If properly used, social media is a platform that can be used as a marketing tool for growth. The main challenge is that some business ladies spend a lot of time making random tweets and making useless posts on Facebook, yet no results. The best thing is to look at what benefit the social media has to offer, what social media strategies other companies have employed and the value of the social media offers. In this regard, quality outweighs quantity.

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