Breaking the Glass Ceiling for Future Women Entrepreneurs

Today is the day when we celebrate the relentless and creative efforts of women reshaping industries, breaking barriers, and setting new standards for success. Business Women’s Day is a powerful reminder of the incredible strides women are making in entrepreneurship and leadership in this world. It is a day for celebrating their relentless drive, creativity, and resilience of women shaping industries, breaking barriers, and setting new standards of success. If you think you are dreamers, forget it because you are India’s future architects of entrepreneurship. 

The startup world is calling, and women like you have the power to break down the barriers, rewrite the rules, and forge your pathway. Imagine a future in which your ideas drive change, and your leadership transforms industries, raising the mantle of success for the next generation of female entrepreneurs. That world is not some dream, it’s here now, waiting for you. As you begin this exciting journey, let’s look into some of the problems ahead and, even more importantly, the powerful solutions that will help you reach the top because you’re not just breaking the glass ceiling but paving the way for something spectacular.

Current Statistics

Women entrepreneurship is taking over India in a big way. According to the Sixth Economic Census, of all the entrepreneurs in India, 13.76% are women-led and have more than 8 million businesses. And yet, despite the upward momentum, the problems persist. As an example, only 5% of venture capital funding goes to women-led startups in India. These statistics reveal our progress but also how much more has to be done to level out the playing field for women entrepreneurs.

Challenge 1: Gender Bias at Work

All said and done, the biggest challenge for India is still gender bias in workplaces. Even a slight bias on gender hampers the potential and contributions from women entrepreneurs.

Solution: Kiran Mazumdar-Shaw’s Idea

A woman in a man’s world, the BIOCON founder, Kiran Mazumdar-Shaw, was bold to defy the status quo. She believed in her potential and risked all stereotypes attached to it. She boldly defied the status quo by focusing on her vision and proving her competence through her achievements. Her persistence and ability to build credibility through her work led Biocon to become one of India’s leading biotech firms, valued globally.

How to Overcome this Challenge?

• Build a Strong Track Record of Achievements

Start with what you do best, delivering quality work that speaks for itself. You know what’s hard to dismiss? TRACK RECORDS.  Document your achievements and value in concrete, measurable terms. Use numbers to present your results, for example, revenue growth, cost savings, or completed projects. 

• Connect with Women’s Networking Groups

Sites such as WEConnect International or ‘CII Indian Women Network‘ are great platforms for sharing experiences, asking advice, or even learning about how others handle a biased environment. These networks will equip you with resources to counter gender prejudice and provide both emotional and professional support.

• Find Allies and Mentors

Seek out mentors with whom you can share your concerns and draw support from, especially people who have been in situations you are in. Try to develop a cohesive relationship with colleagues who acknowledge the value of inclusiveness and can raise voices for you when needed. 

Challenge 2: Fear of Taking Risks

Many entrepreneurs are intimidated and scared of taking risks. Be it launching an innovative idea or scaling into unexplored markets or making huge investments, the fear of loss leads to restrictions in growth. The trick to ace this issue is CALCULATED RISKS. In today’s risk-friendly world, those who take calculated risks really do reap the biggest rewards.

Solution: Falguni Nayar’s Risk-Taking Advice

Nykaa’s founder Falguni Nayar is a woman with deep roots in Indian Institution of Management, Ahmedabad, she swears by the risk taking mantra. She says “Don’t be afraid to take risks along the way. You are blessed to be entering a world that is now increasingly risk-friendly. Spend the early years of your career taking the right risks and make some bold bets on yourself.”

How to Overcome this Challenge?

• Start with Small, Manageable Risks : 

Start with small risks where the downside is small but the potential for reward is high. For example, you might try a new line of products or service in a niche before committing to a full scale launch. This way, you can test your hypothesis without having your entire wallet on the line.

• Make Risk-Assessment Plan

Break down a major risk into smaller elements. Ask yourself: What’s the worst that can happen? How likely is it to fail? Can I manage the potential downside? This structured approach will bring you clarity and, therefore, help to deal with some of that fear.

• Create a “Failure Fund”

Save a portion of your budget to experimentation. A ‘failure fund’ will let you take chances without worrying about depleting your core resources. Knowing you have room to fail—and learn—makes risk taking much easier.

Challenge 3- Limited Networking Opportunities 

It’s essential to enter into networking for business and career development. Women entrepreneurs face challenges in accessing the same networks that get male counterparts. Lack of opportunities for networking, and access to mentorship can lead to restriction in success.

Solution: Priyanka Chopra’s Networking Strategy

Global icon Priyanka Chopra, was once a struggler from the remote corners of India. She has maximized her power through networks to navigate multiple industries across the globe in the greatest way. The power of a network can open doors to access new opportunities and enable growth beyond borders.

How to Overcome this Challenge?

• Use Social Media as a Networking Tool

Priyanka Chopra has utilised social media websites in a very effective way to reach out to the international fan community and to industry peers. You could do the same by using LinkedIn, Instagram, and Twitter sites in order to connect to industry experts, share your insights, and take an active role in relevant discussions; you could even join groups or online forums where people from your field gather to share advice and opportunities.

• Be Consistent and Persistent:

Priyanka’s success did not come overnight. Your networking will build over time too. Make networking a habit by regularly attending various events, keeping active online, and keeping track of contacts. This would eventually translate into a strong, growing, and incredibly productive network.

• Attend and Host Networking Events

Priyanka connects with important people at gala and award ceremonies. Attend industry conferences, trade shows, as well as seminars, even if it is virtual. Attend networking sessions, panel discussions, as well as question-and-answer rounds. People you meet here could turn out to be valuable contacts.

Conclusion

Breaking the glass ceiling is pretty challenging. Breaking it in the entrepreneurial world of India is very tough, however. But if some of the challenges are addressed, such as gender biases, work-life balance, mentorship, networking, and pay inequity, a person will rise on to higher grounds. With the support of Mentoria and inspiration from those who have blazed the trail, you can go on to make your mark and build a future with women who will thrive. It may be a tough path, but resilience, resources, and the right mindset will make your future shine. Get out there and take ownership.