Conducting business is challenging. Getting the resources together, understanding the needs, and creating a solution in every step may sound appealing, but it is a complicated affair. No doubt, entrepreneurs are driven to their purpose find happiness in doing all of that. But let’s understand how the journey looks for a women entrepreneur. Women have proved the gender equality factor very boldly by coming out victorious in every sector of life. Be it management, leadership, or business, they have been marching forward to give us examples to learn their strategies and progress in life. Their struggles are adding value to the box of biased opinions we had about women.
In these changing times and among brilliant examples, we will be looking at brilliant women entrepreneurs who have set out to ensure a successful self-funded business. Let’s know more about them, their aspirations, and how do they do it.
Patrice Banks, Girls Auto Clinic Founder
An auto clinic for women to understand the technicality of their cars and spare parts. It was the vision of Patrice Banks, and she perfectly translated that vision to her business, funding it herself. She left her high-paying career in DuPont to start something on her own. She believed in proceeding to one of the most challenging sectors for women, i.e., automobile mechanics.
In her times, even though women-owned cars, very few could become mechanics. She trained rigorously and attended night classes to open her workshop, and today apart from owning her repair shop, she educates women on the automobile basics. How to self-repair, understand parts and the cost of repairs to prevent being cheated on by other repair shops.
Jamie Fairman, Forage Founder
Her insights about the market opportunities and her passion for becoming a wedding florist let her quit her fantastic job at Bulleit Bourbon. Her creativity and virtual venture made her sell bouquets and plants online, where she used to do the sorting, maintaining, and packaging herself. She dealt with the difficulties of being a female founder in the Covid Era. However, with the right knowledge and efforts, her brand Forage Plants soon became an eye candy foraying into other stuff like ceramics and attracted people everywhere.
Starting her first shop at $20,000, today she owns five shops. And with the help of Shopify, she transformed her business to serve people from multiple locations. Careful planning and the right decisions helped her convert her dreams to a full-fledged retail business.
Deidre Mathis, CEO of Wanderstay Hostel
A natural entrepreneur, Deidre has participated in many funding competitions to win about $75,000 after starting Wanderstay. Gathering such a vast amount has only been possible because of her impassionate knowledge about pacing her business. She knew what she wanted to do and how. She prepared herself with extensive research to understand the scalability and risk of running her business.
The hostel is in Houston, Texas, successfully running and plans to expand soon. Wanderstay offers rooms and doors for $36 to $60 per night. If you are someone who wants to make that blurred vision of yours come true, you must stand tall and follow Deidre’s footsteps and never look back.
Jaclyn Johnson, Founder cum CEO of Create & Cultivate
She was in the Forbes list of 30 under 30 achievers list in 2015, successfully funding two of her businesses by herself. More so, both of them are multimillion-dollar companies. Create and Cultivate is her second company which is a virtual platform to help women build their careers. Her business exposure and the idea of the pros and cons of bootstrapping have helped her delve into business and successfully expand. She found a marketing agency and sold it to Small Girls PR and later started another company with $300,000, which were her funds.
She advocates the necessity to fund businesses and is also an angel investor for many startups like One kind, Tinted, etc. Her motivation to stay ahead in the game and not hung up in the intricacies of external funding has proved her success. It inspires women to dream big with proper planning and execution without giving the power to investors from outside if they are not ready for it.
Lisa Qu, Founder of Clothing line Lisa Qu
This 22-year-old Australian fashion designer ensured that she would make it big and not depend on outsiders for it. Bootstrapping was the first idea she used to start her brand while pursuing her degree in college. She claims to have done extensive research before launching her products online. Her odd jobs helped pay her initially for the business. And later on, for expansion, the only help she ever sought was from her parents, and they happily loaned her their retirement savings.
Her innate creativity and versatile clothing at reasonable rates have helped her business to be highly successful. She turned the tables around and has many followers today. She is on the verge of paying back her parents out of the business profits.
Ana Gavia, Founder of Pinkcolada
Pinkcolada is a famous brand that sells stylish swimwear at a reasonable price. Ana Gavia’s personal experience, need-based approach, and virtual sense make her one of the rising entrepreneurs. A pursuer of medicine, she started her business when she was in college. She researches the market, collects insights about people’s tastes and preferences, and uses it as a driving factor in her business.
She actively involves herself in every aspect of the business, from designing, digital marketing, production, payment to packing and delivery. Starting her business with only $200 online, she has helped her company grow into a $1.7 million-dollar business.
Take A Plunge
The above tales of extraordinary women entrepreneurs speak of the struggles and the beliefs that paved the paths for these women. They all had a vision, precise planning, and lots of saving on channeling that vision. Most of the time, your inspiration could spur out from your beginnings and sometimes from the fact that usually relatively lesser investors contribute to financing female entrepreneurs.
Nevertheless, these women ensured they had the right sources at the right time. Some went reinvesting their profits and planned expansion, whereas some saved right. So, how do you decide to fund your business as you take the plunge? Self-Funding your business is a risky choice, but if executed correctly, it can empower you.
We at OpenGrowth, are committed to keeping you updated with the best content on the latest trendy topics from any major field. Also, both your feedback and suggestions are valuable to us. So, do share them in the comment section below.