Women are on the rise in the business ownership world. Today, women make up 40% of business owners in the United States and have generated $1.7 trillion in sales since 2017.

Thousands of pages have been written on how to start a business. However, the majority of the most recommended books are written by men and few have advice specific to young women entrepreneurs.

To be sure, much of the advice for entrepreneurs is gender- and age- neutral. Find your passion, manage your finances, know your business (and your competition), always be hustling and get the right legal help — these are almost always true, no matter your industry, age or gender.

But women and young entrepreneurs face unique barriers to accessing the resources and networks that can support them in building their businesses. Structural barriers such as access to financial resources, business experience and leadership roles mean fewer young women are even in a position to start their own business. In addition, women, in particular, must often navigate social biases against women in power and poor support systems for working mothers.

When asked what advice she would give to young women starting a business, Monica Dolezal, NAWBO member and owner and president of Bizstarts, said, “After many years of watching women entrepreneurs, I think the most important thing I could say is not to get overwhelmed by following ‘the bright shiny object.’”

Indeed, the freedom to follow your passion and be as creative as you like is one of the perks of being an entrepreneur. But, particularly when you are starting out, be sure you have a strong vision for your business. “You are gathering so much information from so many sources, and they’re probably all good pieces of information,” Dolezal said. “It is very easy to lose sight of what your company really is (or want it to be.)”

Dolezal recommends entrepreneurs overcome this wave of information with intention and organization. “Organize everything you’ve learned into categories that will move you forward toward your intended goal, even if one of the categories is ‘not necessary right now.’”

Another piece of advice for entrepreneurial women we see is to learn how to fail. Believe it or not, it is actually helpful to feel bad about failing to land a contract or budget for a project correctly. While you certainly should not see it as a reflection of your value as a person or entrepreneur, reflecting on how bad failure feels helps motivate you to try harder and act learn from your mistakes.

Women entrepreneurs can also benefit from finding value in their voices. Learn to advocate for yourself — set your boundaries and ask for what you need. In addition, as a young woman, you bring invaluable insight and experience to the table. For example, millennials tend to be authentic, value-driven communicators — traits of highly effective leaders. 

Finding your voice is an essential part of finding your niche in the marketplace as well. “I believe that the greater percentage of people do tweak/change/pivot when starting up,” Dolezal said. "And it is prudent to do so. Knowing what YOU want your company to be is the most important thing, and then finding a way to sustain the business you want it to be.”

Finally, connect with other women entrepreneurs. Knowing where you stand and what you need helps you build meaningful relationships and partnerships with other women who can provide you support and insight when you need it most. NAWBO Iowa is a great source for networking and connecting with other women business owners. We know these barriers, and we are here to help propel you into economic, social and political spheres of influence statewide.