Starting a business comes with plenty of challenges. And women face a unique set of challenges as they become entrepreneurs and grow their business.
To dig into this, I sat down with Christy Wright, founder of Business Boutique. And we’re kicking off the third season of the Building a Story Brand podcast by discussing 5 game-changing insights for entrepreneurial women.
Christy understands the most common struggles women face in business. And she’s helped guide the success of thousands of female entrepreneurs through her wildly popular seminars. In this podcast, she shares five powerful insights women can use to develop as entrepreneurs.
If you’re dreaming about starting a business, trying to get one off the ground, or building an empire, don’t miss this episode.
1. Fear happens at every level of success.
There’s no level of success where you outgrow fear.
In her research, many women report feeling what’s called “imposter syndrome” — a belief that you don’t deserve or aren’t qualified for your achievements.
And it’s not just beginners. Women at every level of success fear that they don’t have what it takes to move the next level.
Even the legendary author Maya Angelou talks about it, saying before every book, “I have written eleven books, but each time I think, ‘uh oh, they’re going to find out now. I’ve run a game on everybody, and they’re going to find me out.’”
If Maya was afraid, you can be, too. It’s normal.
Christy’s advice to anyone who struggles with imposter syndrome? “Don’t wait until you’re not scared to do the thing you want to do. You do it scared.”
Each small win will give you confidence for the next time. When the fear creeps up, you can remember that yes, you can do this.
2. Use how you’re wired to your advantage.
This is a generalization, of course, but men and women are wired differently.
The differences crop up everywhere. How we communicate. How our emotions work. How we solve problems. How we approach relationships.
Those differences are a wonderful advantage.
Whatever that looks like for you personally, Christy encourages women to unapologetically step into their strengths. In her words:
“It’s great when you see men and women both championing each other in their strengths. Not asking a woman to act like a man in a workplace, and not asking a man to act like a woman. Instead, what are your strengths, not only in your gender, but also in your unique wiring? Leverage those, and allow people to shine in their strengths.”
This is fantastic advice for any of us who hire as well. It’s easy to look for people who are wired like you. But in order to thrive, your business needs people who’ll approach tasks and challenges differently.
3. Time is your most valuable resource.
Every entrepreneur with a family knows that balancing work and home (especially with kids) is a three-ring circus.
For Christy, the key to calibrating it all is time management. And with two young kids herself, she lives it every day. As she told me:
“Time is the most finite resource we have. You can get money, more relationships, buy more stuff. You can get more of anything you want in life, except time. We all have the exact same 24 hours in a day, and you can’t get a minute more, no matter how much money or power you get.”
Want to protect your time with your family as your business grows? You’ll end up saying no to good opportunities so you can say yes to what truly matters to you.
4. Say your price and shut up.
Christy mentioned one particular aspect of business that women commonly struggle with, but to be honest, I see it with practically every entrepreneur who comes to a StoryBrand Workshop.
They have an apologetic tone about their product and their price. It’s almost charity — “Will you buy my product or believe in me, please?”
Christy explains it’s natural because you’re vulnerable. You face rejection every time you put your product — your baby — out into the world.
Her advice: “Just say your price and shut up.”
“A lot of times, we talk ourselves out of sales. We say our price, and then we feel like we’ve got to dance around it, explain it, walk on eggshells, and justify it. By the end of it, we seem like we have something that we’re trying to cover up. Instead, just say, you know what, that ticket price is $79, and we’d love to see you there. Just be quiet, stop talking.”
“Just say your price and shut up.”
Remember, you’re helping people. You’re connecting them to a product or service that’s going to take away pain for them and make their life better. Frame it that way, and you’ll quickly see there’s nothing to be sorry for.
5. Manage the money.
The number one reason small businesses fail?
They can’t pay their bills.
For some entrepreneurs, managing the money comes naturally. If that’s not true for you, learn how. I love how plainly Christy says it:
“If you’re not earning a profit, you’re not running a business. You have a hobby.”
For me, running a business is the most fun thing in the world.
I’m not saying it’s easy. My team and I face challenges every day. But we know why we’re doing it — to help businesses grow so they can take care of customers, employees, and families. Pay for a college education. Start a foundation. Adopt a child. Fund that trip to France. We call ourselves fundraisers for the American dream.
As Christy says “Remember why you do it. If you remember, and reset, and keep front and center why you do it, why this matters, then it helps you get through those hard days, to get to the days that are really great.”
Podcast produced by: Tim Schurrer
Additional editing by: Nick Jaworski