3 Reasons Women Need Venture Capital to Turn The Tables And The Links To Do It
"Women are less willing to take risks than men" and as a result lose out on securing VC funding.
We're more risk-averse, so they say, "Am I hiring the right person?" or "How will 'this' decision impact my business’ reputation?" are our go-to inner critic line of questioning. Our attention is directed to our social place in the world rather than the economic growth the business could gain.
However, it's not necessarily our fault…AHA!
A study analyzed TechCrunch Disrupt New York, (an annual startup funding competition) video transcripts of Q&A sessions done by Venture Capitalists, showing the different sets of questions posed to male vs. female entrepreneurs. Which highlighted leading questions that played on risk-averse scenarios for women to answer.
Source: Harvard Business Review, “Male and Female Entrepreneurs Get Asked Different Questions by VCs — and It Affects How Much Funding They Get”
We're also unaware of available funding options that are out here for the taking. Which puts us at a major disadvantage. It's also the reason we're vastly under-represented and under-funded in the Venture Capital "boys club". And that's just the tip of the iceberg after doing light research.
If you needed any more reasons to go after your share of the VC pie, I've listed them below.
1. Access to Cash-Money
Stat. Only 2.2% of the overall $130 billion of venture capital raised by companies in 2018 went to female founders — despite us owning 38% of the businesses in the country.
This is absolutely depressing. Even with the 7% female venture capitalists at the table, we're still falling short.
"Could I have a glass of wine with them?"
Let’s face it, the reason why it remains a boys club, most male Venture Capitalist decisions are influenced on the basis of “Could I have a beer with them?”. If there were not only more women but diverse women seated in executive roles, holders of the purse strings at these venture firms, female founders access to capital would increase.
Representation can be a domino effect.
Until then…here is the access pass to cash-money pitch events.
⚡Local Canadian Pitch Events: Telus, Startup Canada, TEF, Canadian Council of Aboriginal Business
⚡Global Pitch Events: https://www.growthmentor.com/blog/startup-pitch-competitions/
⚡Tips For Securing Small Business Grants: https://www.thebalancesmb.com/small-business-grants-in-canada-2948494
2. Access to Invaluable Mentoring
Angel investors can offer you more than a duffle bag of cash.
You can lean on the expertise and experience from entrepreneurs who have launched a successful company similar to yours. They already know the pitfalls ahead and can help guide you away from the land mines. Usually, the mentors that invested tend to stay involved. That means, continuity in the guidance you get and a willingness to help you wade through difficult decisions.
Mentoring can come in the form of incubators, accelerator programs, co-working spaces and Small Business Development Centres.
⚡Canadian Resources That Support Women Entrepreneurs: https://canadabusiness.ca/starting/checklists-and-guides-for-starting-a-business/women-entrepreneurs/
⚡Global Venture Capital Firms That Specifically Help Women Entrepreneurs (It’s about damn time!): https://www.inc.com/magazine/201810/kimberly-weisul/female-founders-funding-guide.html
3. Access to Relationship Capital
This is an undervalued resource when you pitch your startup/business to investors —THE GOLDMINE OF RELATIONSHIPS DEVELOPED.
Building your LinkedIn Rolodex of contacts that can either support your goals or introduce you to someone who could. The networking opportunities are countless from access to potential suppliers to potential customers for your business.
Now, that you know the benefits to secure VC funding, here's how I can help you position yourself as a serious entrepreneur via your Pitch Deck. Click to Apply.
*This free offer expires May 31st, 2019
