We know many small business owners have difficulty accessing capital, but women business owners have particular trouble.
While women own roughly 36% of the small businesses in the United States, only 5.5% successfully find financing at the bank, and 50% of those who applied for funding received nothing, according to the National Women’s Business Council.
In spite of the challenges, women business owners are resilient and passionate believers in themselves and their teams. We thought you might be interested in what some of the successful women business owners who are OnDeck customers had to say about their business experiences.
Why do you love being a business owner?
“I love being a business owner because I am constantly learning, interacting with customers, employees, vendors, etc. It has broadened my view of the world. We provide a service that meets people’s needs around the globe; therefore my worldview has become expansive.” – Shannon Tanner, Orlando Stroller Rentals
What valuable lessons have you learned along the way?
“You must be confident, strong, and not take your people for granted. You are only as good as the people you hire. Everything starts from the top in every area of life. You must have a spirit of excellence and that must filter down to your employees.” – Rose Marie Foote, Bella’s Cafe
“It’s ok to say no to a job if it’s not profitable. It’s always scary for a business owner to turn down a job when that person has taken the time to walk in or picked up the phone to call. I have a duty to my business and employees to make smart decisions to ensure my company not only stays busy but stays profitable.” – Sandi Honer, Destin Beach Photography Company
“Surround yourself with positive people whom you can depend on to support you and provide you with good advice, and be that type of person in return that lifts up those around you.” – Shannon Weaver, Larion PLLC
What advice would you share with other women entrepreneurs?
“The most important advice I can give – and I still have to remind myself of this every single day – stay true to you. Don’t compare and don’t replicate – innovate. No one has your unique skill set or vision. Share you with the world and that will draw people to you.” – Sheryl Means, Yarntopia
“Take time for yourself to be still and dig deep into your vision. Don’t be afraid to ask questions and don’t be afraid to ask for help. Trust your gut and remember your business plan. That business plan is something that I still pull out and look at even after 5 years of being in business. It helps me see how far I have come and allows me to expand my vision for Elaine’s. The sky is the limit!” – Robin Detrude, Elaine’s Salon