{"id":23504,"date":"2017-10-18T00:00:00","date_gmt":"2017-10-18T04:00:00","guid":{"rendered":"http:\/\/ceric.org\/2017\/10\/female-entrepreneurs-fear-of-failure-and-the-restorative-role-of-resilience\/"},"modified":"2017-10-18T00:00:00","modified_gmt":"2017-10-18T04:00:00","slug":"female-entrepreneurs-fear-of-failure-and-the-restorative-role-of-resilience","status":"publish","type":"post","link":"https:\/\/ceric.ca\/fr\/2017\/10\/female-entrepreneurs-fear-of-failure-and-the-restorative-role-of-resilience\/","title":{"rendered":"Female Entrepreneurs: Fear of Failure and the Restorative Role of Resilience"},"content":{"rendered":"

Helping female entrepreneurs requires an understanding of their unique experiences<\/em><\/strong><\/p>\n

By Lori Padley-Lee<\/em><\/p>\n

 <\/p>\n

Women in Canada are choosing self-employment in record numbers. In 2015 there were over one million self-employed women in Canada, and at last count these women had contributed nearly $150 billion dollars to our economy. Yet while the number of women entrepreneurs is growing at twice the rate of men, this group\u2019s sense of anxiety is also surpassing that of their male counterparts. According to Babson College’s 2012 Global Entrepreneur Monitor, fear of failure is a major concern of women who start their own businesses, spurred in part by lower perceptions of their entrepreneurial abilities than their more confident male peers. The questions for the career practitioner, then, are what<\/em> is contributing to this fear of failure, and how<\/em> can we help our female clients reach their entrepreneurial potential?<\/p>\n

Fear, of course, can be healthy. It\u2019s fear that keeps us from chasing balls into traffic and petting growling dogs. But fear can also be a detriment, clouding our perceptions of reality and blinding us to our own potential, if we let it. As any career counsellor is aware, fear of failure is often a major factor in a client\u2019s inaction, either in terms of finding a new career or seeking advancement in their current one. For women stepping out into the unknown territory of business ownership, the fear of failure can be especially paralyzing. Why? Because a woman often faces societal barriers that can heighten her sense of being \u201cnot good enough\u201d, discouraging her long before she hangs the \u201cOpen for Business\u201d sign on her door.<\/p>\n

The challenges are many, and this list is not comprehensive. The problem of money is paramount. Several studies cite women\u2019s difficulties in securing loans from banks due to assumed financial incompetency (banks in the studies wanted to see hard numbers as an indicator of probable success, and reacted negatively towards women\u2019s slow-but-steady, relationship-driven approach to growth). Women also struggle with building a support network. If the world of entrepreneurialism seems a \u201cboy\u2019s club\u201d to some, not knowing where (or how) to access female mentorship is partly to blame. Advice, networking, even just \u201ctea and sympathy\u201d from someone who\u2019s been there can make a significant difference in a female entrepreneur\u2019s success and emotional well-being.\u00a0 Finally, in talking about barriers that lead to fear of failure, we cannot discount the impact of a woman\u2019s work-life balance. In a society that still views women as the primary caregivers of children and keepers of the home, women entrepreneurs who also happen to be parents face additional hurdles. Finding time both for raising children and cultivating a new business is undeniably stressful even with support systems, and in the age of \u201cmommy wars\u201d many self-employed women feel the strain of being judged from both sides.\u00a0 Stretched thin, they fear failing as businesswomen and failing as mothers.<\/p>\n

Fortunately, career counsellors can help women mitigate these clients\u2019 fears of failure. Women embarking on entrepreneurship are often embarking on a career transition unlike any they\u2019ve made before. One of the theories we turn to when helping clients tackle transitions is that of resilience. Nurturing resilience is largely achieved \u201cby placing an emphasis on the already realized positive capacities of [the] individual.\u201d Successful entrepreneurialism is highly dependent on qualities such as creativity, determination, people skills, and the ability to multi-task. The list goes on and on. What better way to alleviate the fear of failure than by helping a female entrepreneur to appreciate the relevant qualities she already has?<\/p>\n

When we strive to build resilience in our clients we strive to make them adaptable to change, prepared to overcome challenges and open to creating and finding opportunities for learning and growth. Part of this journey typically includes goal-setting, an essential component of launching a business. Setting attainable, realistic goals helps people feel in control of their situation (Think about a time when you were feeling overwhelmed and you created a to-do list. How satisfying was it to put a checkmark next to each item as you completed it, no matter how small?) From the initial business idea to signing contracts on the dotted line, a woman\u2019s entrepreneurial journey is comprised of many steps. We need to help clients feel they\u2019ve got all their bases covered and can handle each step as it comes along. Empowering women with the resources to draft a successful business plan, to access information about her customer demographics, and to understand her obligations as an employer \u2013 these are just some the puzzle pieces that, when put together, can give our clients a clear sense of their own preparedness and competency.<\/p>\n

Resilient clients \u2013 rather than wait for success to find them \u2013 get out and make things happen, even when obstacles make it seem impossible to move forward. \u00a0Anyone with entrepreneurial dreams already has that go-getter element to their personality, but for a client fearing failure, the ability to cultivate opportunities can easily get lost in self-doubt. We can help by fostering optimism, self-esteem, intrinsic motivation, and self-efficacy. One strategy to achieve this is narrative therapy, with clients telling us their stories and reflecting upon the successes and dreams that have led them to self-employment goals. Ultimately, this approach can help to re-awaken their belief in themselves and their own potential.<\/p>\n

Resilient female entrepreneurs will have more confidence to effectively sell their business ideas to prospective investors, to actively seek out likeminded peers and mentors for support, and to unapologetically balance work and family and ask for help when needed. Slowly, some of the barriers that these women face are being eroded by progressive financial institutions that have taken strides to support them, and by a growing movement towards more equitable approaches to parenting and homemaking. There\u2019s still a long way to go, but in the meantime we can help make the entrepreneurial path a much easier one for women to follow.<\/p>\n

 <\/p>\n

AUTHOR BIO<\/strong><\/p>\n

Lori Padley-Lee<\/em><\/strong> is currently enrolled in the Career Development Practitioner program at Conestoga College. She has worked as an educator, marketing writer and editor, and is interested in assisting disadvantaged youth and adults with job skills development and self-marketing to help them reach their career potential.<\/em><\/p>\n

REFERENCES<\/strong><\/p>\n

Beckton, Clare and Janice McDonald (January, 2016). \u201cA Force to Reckon With: Women, Entrepreneurship and Risk\u201d. Retrieved July 16, 2016, from http:\/\/<\/a>static1.squarespace.com\/static\/536948c6e4b001654189fa95\/t\/572895e97c65e4dbdad4a79e\/1462277611091\/A_Force_To_Reckon_With_3.30.16.pdf<\/a><\/p>\n

Flavelle, Dana (May 3, 2016). \u201cWomen Entrepreneurs Embrace Risk Differently: Report Procedures\u201d. The Toronto Star. Retrieved June 1, 2016 from: https:\/\/<\/a>www.thestar.com\/business\/2016\/05\/03\/women-entrepreneurs-embrace-risk-differently-report.html<\/a><\/p>\n

Mielach, David (July 31, 2013). \u201cFailure Tops Women\u2019s List of Startup Fears\u201d. Business News Daily. Retrieved July 10, 2016\u00a0 from: http:\/\/www.businessnewsdaily.com\/4844-women-entrepreneur-globe.html<\/a><\/p>\n

VanBreda, Adrian DuPlessis. \u201cResilience Theory: A Literature Review (2001)\u201d. Retrieved July 18, 2016 from http:\/\/www.adrian.vanbreda.org\/resilience.htm<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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