Data shows there are real advantages to finding a like-minded community.
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March
16, 2021
5 min read
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Women entrepreneurs are making their mark in the business world by taking on new challenges daily and are finding great success. According to nonprofit organization Catalyst, women hold only 6 percent of CEO positions in the S&P 500. That percentage jumps considerably when you look at ecommerce, as Amazon data company Jungle Scout reports 32 percent of sellers are women. But even this statistic reveals a gender gap in the business.
Women have obstacles that differ from their male counterparts when running an ecommerce business. And finding the right support is often the key factor one needs to reach success. As you develop your ecommerce business, you’ll inevitably need support and expert mentorship in a nurturing environment. Having a group dedicated to women in ecommerce is the perfect place to start your journey to success.
Here are the top five reasons why women in ecommerce can benefit from like-minded entrepreneurs:
1. They understand you
Nothing compares to the support you receive from someone who truly understands where you’re coming from. Networking in an environment geared towards women means your peers have the tips and tricks to lead your ecommerce business. It also gives you acces to people who understand what it means to balance work and life responsibilities. They know what it’s like to juggle inventory control, product development and staff meetings along with sick kids and a never-ending pile of laundry.
An environment dedicated to women in ecommerce provides the opportunity to interact with like-minded women who share similar challenges. Whether you need to vent about running out of inventory to a missed recital, they can relate and are able to offer advice that applies to your unique situation.
Related: 4 Pillars of the New ecommerce Frontier Entrepreneurs Need to Embrace
2. Your network and net worth will grow
According to a LinkedIn survey, 80 percent of entrepreneurs know that networking is key to career success. Investing and cultivating your connections should have equal precedence to the investment you make in your business. By building your community around other women, you can unlock the hidden power of wealth through shared strategies, tools and hidden secrets. This network can be the most important asset in your business portfolio, and will allow your business to thrive.
3. You find a mentor that aligns with you
Mentors help us overcome roadblocks both mentally and professionally by guiding us in our decision-making process. They are the ones who have already hurdled the obstacles we may have, and they have the skills and strategies to help us overcome them. Great business mentors can cost thousands upon thousands of dollars, which most ecommerce entrepreneurs can’t afford.
Finding a mentor who not only aligns with your vision, but also understands your individual business model can be difficult. Joining an entrepreneurial group of women will give you access to mentors at a fraction of the cost. Those mentors will help you stay accountable take your business to the next level.
Related: 4 Benefits of Finding a Mentor
4. You have a go-to soundboard
Perhaps you’re launching a new product or brand and you need to hear what others think. Maybe you’ve hit a roadblock and don’t know which direction to take. What better way to bring your goals to fruition than by having your own soundboard for ideas? A group of dedicated, successful women may just be the catapult you need to launch your next project.
Getting honest feedback from women who know how to build success in today’s online world will give you confidence while increasing revenue potential. Who knows — one conversation can lead to millions in the bank.
5. You can find and share your power
According to a Deloitte report, women have only 12 percent of chairs in the boardroom. You can imagine how this environment deters women away from helping one another in the corporate world.
But as a woman in ecommerce, you are your own boardroom. You don’t have to feel like there is a limited amount of chairs available or that another woman will take your chair. Instead, you can grow your business exponentially by surrounding yourself with women who are experts in their fields, are true leaders, and who showcase their power daily. There is no fight for a seat at the table because you are handpicking your board members. This allows you to grow in skill and confidence without any barriers.
Even if you want to build your business alone, you can always benefit from the support of like-minded individuals. Collaborating with other women will teach you the hidden rules to ecommerce and empower you to help other women too. The more relationships you nurture and cultivate in business, the more opportunities you’ll have. Make sure you’re hanging out with the right crowd, because your success depends on it.
Related: Women Entrepreneurs Underestimate Themselves: What We Can Do About It