Business Plans for Women-Owned Businesses

Business plans by women just don't get funded.  Statistically, over 600 business plans presented by women-owned businesses won venture capital last year, and thousands more business plans presented for SBA financing achieved it.

That sounds like a lot.  And it is.  But it is less than ten percent of all business plans that were funded.

I am personally astounded at the "reasons" given for the paltry crumbs thrown to business plans presented by women entrepreneurs.

"Women tend to be too conservative."

"Women take time out from their careers for their families, and so aren't as well prepared."

"Women don't think big enough for venture capital."

"Women don't take control of a company or a situation."

"Women don't want to give up any control of their business to venture capital investor."

There is a perception that women entrepreneurs are risk-averse, poor at math and finance and unwilling or unable to fully commit to a business.

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With all the advances we have made, still today, in the 21st century, women entrepreneurs are granted only about 7% of the venture capital money that is invested.

Seven percent.

Little does it seem to matter that women are leading new ventures at twice the rate of men.

So with the head-patting and butt-pinching inherent in our search for funding, what drives us to keep on going?

Because we're d***** good.

And that is simply what women entrepreneurs need to keep foremost in mind in the money hunt: you're a whole heck of a lot better than 99% of the money baggers give you credit for, or you wouldn't be where you are.

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Tackle them where it hurts: in their wallets.

• Demonstrate how your business plan will succeed better than any others.

• Present you and yourself as professionally as possible, with corporate status established and loan lines intact.

• Create an advisory board to knock their socks off.

• Don't take NO for an answer.

In short, show them how they will lose money by passing up your business plan.

It helps if your business is

• an early-stage project,

• located in the West or Northeast, and

• in computer hardware/software business, health care or communications sectors.

These are the geographical and marketing sectors where women have had the most success.

I know that the business plans by women entrepreneurs are every bit as good as those presented by men.  Unfortunately, we need to make them even better than men's to get the recognition that we need.

Are you from Wisconsin?  In the market for an angel investor?  There are some waiting to hear from women and minorities.  See this article on Angel Investor Groups of Women in Wisconsin.

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