The document discusses the challenges women face in entrepreneurship, including the triple burden of domestic responsibilities, career, and caregiving duties (the "triple burden"), as well as facing contradictory expectations as either too soft or too tough (the "double bind"). It then outlines various challenges female entrepreneurs may encounter, such as financing, finding customers, managing employees and money, and offers advice for overcoming challenges through education, decision-making, inspiration, and building skills and networks. The overall message is that entrepreneurship presents unique difficulties for women that can be navigated by preparing strategically and drawing strength from other successful businesswomen.

1. WOMEN in Entrepreneurship
Navigating the Entrepreneurship Landscape as a Woman
by Habiba Balogun
CEO & Principal Consultant
Habiba Balogun Consulting Limited

2. Entrepreneurship
is
already
hard
Women,
The
Triple
burden
and
the
Double
bind
• Triple
Burden
– Woman,
Worker,
Welfare
Officer
– Housekeeper,
Earner,
Caregiver
– Marriage,
Maternity
Leave,
Childcare
• The
Double
bind:
Damned
if
you
do,
damned
if
you
don’t
– Extreme
PercepIons
–
too
soJ
or
too
tough
– High
Competence
Threshold
–
always
proving,
never
proved
– Competent
but
disliked
–
boss
from
hell
Source: Catalyst – The Double-bind Dilemma for Women in Leadership

3. Entrepreneurial
Challenges
1. Picking
the
right
business
– It
helps
people
/
provides
a
soluIon
– You
can
deliver
what
you
have
promised
2. Financing
your
business
– Start
small
&
be
creaIve
– Access
seed
money
–
saving,
borrowing,
equity
– Use
technology
3. Finding
paying
customers
– Let
your
product
sell
itself
– Find
the
people
in
need
of
your
service
– Use
technology
4. When
to
quit
your
day
job
– You
have
enough
money
to
survive
for
12-­‐18
months
while
it
takes
off
– Knowing
when
to
exit
5. Dealing
with
Financial
Uncertainty
– Structure
your
biz
to
provide
a
regular
cashflow
to
replace
your
salary
6. Managing
your
money
– Become
Financially
Literate
FAST:
Budget,
Save,
Invest
– Understand
taxes
and
pay
them
– Get
legal
protecIon
for
your
business.
Insure
yourself
against
loss

4. Entrepreneurial
Challenges
(cont.)
7. Dealing
with
NegaIvity
– Ditch
negaIve
people
around
you
– Conquer
your
self-­‐doubt
with
determinaIon
to
succeed
8. Find
Trustworthy
partners
– Never
go
into
business
with
‘fast’
people
– Don’t
be
one
of
them
either
– Forge
strategic
partnerships/alliances
9. Dealing
with
compeIIon
– Don’t
compete,
innovate
&
excel
– Keep
seeking
new
soluIons
and
pioneer
them
10. Dealing
with
Paperwork
– Get
it
done
properly
if
you
want
your
business
to
grow
beyond
just
you
– Use
technology
11. Hiring
Employees
– Hire
as
freelancers
or
contractors
unIl
the
workload
is
too
much
or
you
are
generaIng
enough
revenue
– Be
a
teacher,
moIvator
&
cheque
writer
– Do
NOT
be
a
babysiier
or
therapist
12. DelegaIon
– Trust
someone
to
do
it
‘well-­‐
enough’.
They
cannot
do
it
like
you.
13. Time
Management
– Organise
your
24
hours
minus
sleep
– Set
working
hours
/
days
– ASK
FOR
HELP
– Looking
aJer
yourself

5. ”If you don’t know where you are going,
any road will take you there.” from Alice in Wonderland by Lewis Carroll
Young boys are taught to plan for WHAT they will achieve in life,
young women are taught to plan for WHOM they will attain.
This does not prepare us to set life, career and/or business goals

7. Meditate
and
listen
to
your
ins8ncts
Quiet thinking and reflecting time
Source: www.slideshare.net/huiguniang2/how-to-make-a-decision

8. Ask yourself 3 questions
What’s the worst
that can happen?
How likely is that to
happen?
Can you deal
with it?
Source: www.slideshare.net/huiguniang2/how-to-make-a-decision

9. Take two pieces of paper
and write down your
options on each. Put them
in a bowl, close your eyes,
and pick one.
If you feel disappointed with
the outcome, then you know
that is the wrong decision for
you to make!
Source: www.slideshare.net/huiguniang2/how-to-make-a-decision

10. Let
go
of
your
fear
• There is no right
or wrong
decision
• Any decision is
better than
indecision
Source: www.slideshare.net/huiguniang2/how-to-make-a-decision

11. STOP
THINKING
SO MUCH
Source: www.slideshare.net/huiguniang2/how-to-make-a-decision

12. Good
Decision-­‐makers
Build their…
1. Self-esteem (not pride)
2. Courage
• Take calculated risks
• Do the right thing
• Act even when scared
3. Honesty
• Are true to themselves and natural
• Are brutally honest with themselves
4. Love (care about their welfare and that of others)
Source: Leadership Decision Making – Professor Hossein Arsham

13. Personal
Decisions
are
the
Leading
Cause
of
Premature
Death
In
1900
only
10%
of
premature
deaths
were
due
to
personal
decisions
In
2008,
it
is
up
to
44.5%
(smoking,
not
exercising,
drug
alcohol
abuse,
unsafe
sex,
criminality)
Instead
of
relying
on
EXTERNAL
factors
to
keep
us
alive
and
healthy
for
longer,
we
can
(and
must)
learn
to
rely
on
our
decision-­‐making
skills
in
order
to
reduce
the
number
of
stupid
choices
and
costly
mistakes
that
we
make
Source: Operations Research Ralph Keeney 2008

14. BEFORE
Deciding
4 Important Questions
1. Is
it
IMPORTANT
to
me?
2. Does
this
ADD
VALUE
to
my
life?
3. Does
this
MAKE
ME
HAPPY
/
happier?
4. Can
I
live
with
myself
aJer
this?

15. How
We
Avoid
Making
Serious
Decisions
EVADING
• Recourse
to
someone
or
something
else
e.g.
religion,
horoscopes
• ShiJ
responsibility
–
e.g.
spouse
• Toe
the
line
–
follow
others
• Set
up
a
commiiee
(no
person
to
blame)
• The
Ostrich
–
don’t
think
about
it
• Pray
for
a
miracle
/
False
Hopes
POOR
CRITICAL
THINKING
SKILLS
• False
alternaIve
• Failure
to
Reflect
• Sunk
Cost
Syndrome
• Seek
Confirming
Evidence
• Failure
to
understand
the
problem
• Oversimplify
the
problem
SELF-­‐SABOTAGE
• Be
overconfident
• Be
too
prudent
• Succumb
to
failure
• MisrepresentaIon
of
facts
• Reasoning
by
analogy
• Purely
symbolic
decisions
• Post-­‐decision
anxiety
/
Have
second
thoughts
Source: Leadership Decision Making – Professor Hossein Arsham

16. When
to
make
Serious
Decisions
DON’T
When
you
are:
• Angry
• Hurt
• Depressed
• Desperate
• Frightened
• Jealous
/
Envious
• Being
persuaded
To
get…
• Revenge
• Harm
someone
else
DO
When
you
are…
• Under
the
influence
of
drink
or
drugs
• Sleep
deprived
• Deeply
sad
• In
the
grips
of
grief
• Being
coerced/
pressured
• Impulsive
• When
you
are:
– Calm
– Thoughrul
– Focused
– Informed
• Find
a
way
to
perceive
your
problem
as
an
opportunity
• Use
decision-­‐making
tools
-­‐ Decision
trees
-­‐ 10-­‐10-­‐10
-­‐ Cost/Benefit,
Pros/Cons
-­‐ Grid
Analysis
Source: Leadership Decision Making – Professor Hossein Arsham

17. Making
Good
Decisions
1. Set
a
clear
goal.
What
do
you
want
to
accomplish?
and
how
it
relates
to
your
values
/
prioriIes
2. Iden8fy
the
Op8ons/Ac8ons.
Consider
a
wide
range
of
possible
alternaIve
courses
of
acIon
3. Evaluate
the
Consequences.
Weigh
the
costs
risks
of
possible
negaIve
and
posiIve
consequences.
Especially
the
worst
case
scenario
4. Gather
Informa8on.
Search
for
new
relevant
informaIon
to
further
evaluate
the
choices
5. Process
the
informa8on.
Take
account
of
any
new
informaIon
especially
ones
that
do
not
support
your
preferred
opIon
6. Assess
the
Ac8on.
Re-­‐examine
posiIve
and
negaIve
consequences
including
some
previously
unacceptable
choices
before
making
a
final
decision
7. Implement
your
decision.
Make
DETAILED
provisions
for
implemenIng
and
execuIng
the
chosen
course
of
acIon
including
conIngency
plans
and
flexibility
to
adjust

18. Japanese
proverb
Thinking
without
acIon
is
a
daydream.
AcIon
without
thinking
is
a
nightmare.

19. Proverb
“Hell is full of good intentions,
heaven is full of good works”

20. The
difficulty
in
life
is
the
choice
George
Moore
There
is
a
big
difference
between
making
a
choice
and
making
a
decision.
The
difference
is
IMPLEMENTATION

21. Take
yourself
seriously
as
an
entrepreneur
1. Know
yourself
– Your
business
personal
goals
– Interpersonal
skills
2. Educate
yourself
– Your
Business
Environment
– Financial
Literacy
• Finance
• AccounIng
– Business
Skills
– Entrepreneurial
Skills
– MarkeIng
Skills
– TECHNOLOGY

22. Read
Great
Books
by
Female
Leaders
1. Tell
your
stories
2. Find
your
life’s
mission
3. Take
charge
of
change
4. Overcome
crisis
5. Wield
your
power
6. Never
stop
learning
7. Leverage
technology
8. Nurture
your
network
9. Find
a
mentor.
Be
one,
too
10. Give
back
11. Juggle
12. IdenIfy
your
next
step

23. Inspiring
Ourselves
“Define
success
on
your
own
terms,
achieve
it
by
your
own
rules,
and
build
a
life
you’re
proud
to
live.”
–
Anne
Sweeney
(President
of
Walt
Disney)

24. Inspiring
Ourselves
“I
always
did
something
I
was
a
liile
not
ready
to
do.
I
think
that’s
how
you
grow.
When
there’s
that
moment
of
‘Wow,
I’m
not
really
sure
I
can
do
this,’
and
you
push
through
those
moments,
that’s
when
you
have
a
breakthrough.”
-­‐
Marissa
Mayer
(CEO
of
Yahoo)

25. Inspiring
Ourselves
“Our
deepest
fear
is
not
that
we
are
inadequate.
Our
deepest
fear
is
that
we
are
powerful
beyond
measure.
It
is
our
light,
not
our
darkness
that
most
frightens
us.
We
ask
ourselves,
‘Who
am
I
to
be
brilliant,
gorgeous,
talented,
fabulous?’
Actually,
who
are
you
not
to
be?
You
are
a
child
of
God.
Your
playing
small
does
not
serve
the
world.
There
is
nothing
enlightened
about
shrinking
so
that
other
people
won’t
feel
insecure
around
you.
We
are
all
meant
to
shine,
as
children
do.
We
were
born
to
make
manifest
the
glory
of
God
that
is
within
us.
It’s
not
just
in
some
of
us;
it’s
in
everyone.
And
as
we
let
our
own
light
shine,
we
unconsciously
give
other
people
permission
to
do
the
same.
As
we
are
liberated
from
our
own
fear,
our
presence
automaIcally
liberates
others.”
–
Marianne
Williamson
(Author)

26. References
• PowerTools
for
Women
in
Business
–
Aliza
Sherman
• Catalyst
–
The
Double-­‐bind
Dilemma
for
Women
in
Leadership
•
Leadership
Decision
Making
–
Professor
Hossein
Arsham
• www.slideshare.net/huiguniang/how
to
make
a
decision
• 2TinyBuddha.com

27. Thank You!
Habiba Balogun Consulting . effectiveness@hbalogunconsult.ocm . 0709 318 8812 . www.hbalogunconsult.com