Girls don’t run the world, YET! Despite feminism and the job, the situation is better for the female population, more than 85% of leadership roles are assigned to their male colleagues. Due to that, women around the world are deciding to test their luck and knowledge by sailing into entrepreneurship. There is no better industry for female-owned businesses than fashion!
Sadly, not everything goes smoothly all the time. You will run into some challenges, but with a bit of fortune and good organization, you will easily turn them around to your advantage and create opportunities for yourself.
Challenge: Fierce competition
The fashion industry is massive! This means that a lot of top spots on the market have already been taken by famous brands and names. However, even if you do decrease your expectations, chances are you will face a lot of fierce competition on the local and niche level as well! So, how can you find your place on the market?
Even though this data may seem discouraging, with adequate marketing and proper branding you will be able to launch your fashion business in no time! Female-owned businesses come with an original and emotional story to tell, so don’t forget about that.
Opportunity: Vast and profitable industry
Although you will come across competition every step of the way, there are opportunities for you lurking behind every corner. Since the fashion industry is so vast and profitable, creating a startup in this field opens up many doors. Which one should you choose for success?
There is no secret recipe for success in the fashion industry. You will need to do a lot of research and soul-searching to discover the fashion niche for your brand. Choosing a specific niche will help you run your entrepreneurship and create a strong strategy and plan from day one!
Challenge: Social expectations
Whether you live in a first-world or third-world country, your gender role comes with certain social expectations. Women are expected to be there for their husbands, raise kids and take care of the house. Only recently female population earned the right for schooling and get a job. Yet still, pay gaps and treatments create a big distinction between male and female employees!
While women are expected to do everything and more, taking matters into your own hands might settle some of those social expectations. Break the stereotypes by running a successful fashion business. If you’re motivated to succeed, you will do everything in your power to do so!
Opportunity: Creative potential
The fashion industry is crowded with many similar brands with poor branding and bland stories. Use this to your advantage and utilize the creative potential the industry offers widely! Each change, development, and strategy in your business has the potential to transform your business into unique entrepreneurship that easily wins over your target audience. So, what can you do to achieve that?
Utilize your and your customers’ creativity! Include custom clothing in your brand and allow customers to express themselves through your designs. This provides you with the opportunity to get to know your customers better and expand your business to unexplored markets!
Challenge: Lack of support
Most women across the world don’t receive the necessary support for their entrepreneurship from friends, family, or even institutions. While disregarding your loved-ones business idea may seem harmless, it discourages you from even giving a try to something that can potentially turn out great. Also, a lack of guidance from authorities and mentors can indirectly sabotage entrepreneurship ideas.
Besides social and institutional support, not believing in yourself can be harmful to your business. Even though as a female entrepreneur you face any challenges and obstacles, once you overcome them you will come out stronger!
Opportunity: Your own boss
Finishing on a positive note, running a business allows you freedom like you never experienced before! Being your own boss will help you organize the time however you prefer. On top of that, you will be able to fulfill other roles in your life, such as being a wife, mother, friend, and daughter. What else are the perks of entrepreneurship?
Starting female entrepreneurship will guide you through a journey of expanding your network and finding new business opportunities. It will help you maintain a work-life balance, which is essential for your mental health. Take care of yourself so you can take care of your business!
As a female entrepreneur, you will run into numerous obstacles and challenges. However, knowing how to turn those challenges into opportunities and recognizing such opportunities is a gold mine for your business. So, try to detect potential problems and opportunities to get the most out of each situation!