9 Pieces Of Advice For Women Pursuing Entrepreneurship Careers

Successful entrepreneurs—both male and female—are at risk for mental health issues due to the built-in pressures of the role. A total of 72% of successful entrepreneurs experience depression, chronic anxiety and other mental health issues. Mental health issues are especially challenging for women, according to Deloitte’s Women @ Work 2024: A Global Outlook recent workplace report—43% of whom cite non-inclusive behaviors in the workplace in the past year.

The study also revealed alarming rates of burnout among women executives, with 50% stating their stress is greater in 2024 than a year ago. Over a third report burnout—a debilitating state from unmanaged stress in which they are unable to function at their usual level for which there’s no quick fix. But they don’t feel comfortable talking about their mental health, fearful that it can affect their careers. Many say they don’t receive adequate mental health support from their employers.

So, it’s safe to say that the challenges for female entrepreneurs is greater for women than men. It’s essential for companies to establish gender equity initiatives for sustainable support, accessibility and transparency to foster female leadership success in the workforce. Despite roadblocks, the spirit of women entrepreneurship is more vibrant than ever. And more and more female entrepreneurs are able to look past obstacles and land at the top of their game.

Four Tips For Female Leaders To Thrive At The Helm

Throughout her two decades of navigating predominantly male-centric industries, Alla Schay, Asurint’s new CEO and veteran C-suite exec, says she has learned innumerable lessons—both from female mentors and colleagues as well as male managers and co-workers. Schay’s journey led her to learn from and work alongside some of the most well-known female leaders and execs, including Ann Hopkins, who sued PWC in the 1980s for gender discrimination and won to become partner, and who mentored Schay early in her career.

As Schay takes the helm at Asurint, she has a wealth of experience to share with women who aspire to become leaders in their fields. I spoke with her by email, and she offered four key tips for female leaders and C-suite executives looking to follow a career path similar to hers:

1. Build and maintain connections. Schay notes that the working world is inherently collaborative and developing and maintaining relationships is crucial for success. “Take the time to connect with your colleagues, get to know your managers and your peers and find mentors that you can learn from, and who can even learn from you,” she advises. “These connections will give you much-needed support, celebrate your successes, open doors to opportunities in the short-and long-term and foster your growth and development. Most importantly, remember to extend a helping hand to other women as you climb and ensure the ladder remains accessible for those who follow by giving back through mentorship and connection yourself.”

2. Embrace the “oh shit moments.” She explains that these moments are powerful catalysts for personal and professional growth. “The points in my career where I’ve been challenged the most or had a fear of whether I could get the job done are the moments I look back on and see the most growth and progress in myself,” she acknowledges. “Whether it’s because you’re the only woman in the room or it’s a stretch task or assignment for you, don’t shy away from taking these challenges head-on. While they may seem daunting initially, these are the best opportunities for you to learn, adapt, and emerge even stronger and more equipped to handle the next stage or challenge of your career.”

3. Be confident in your unique perspective and strengths. Schay emphasizes that your individuality isn’t a hindrance. Instead, she says, it’s your greatest asset in driving innovation and inclusivity. “Know what your strengths are and the value that you bring to the table, and lean into those areas when you’re feeling less sure of yourself or when you’re taking on a new task,” she suggests. “Don’t be afraid to take the stage and share your opinion—there’s a reason that you’ve been given a voice or a seat at the table, so take the opportunity and be confident of the value you bring.”

4. Practice continuous learning and adaptability. Schay points out that today’s modern workplace is evolving constantly, especially in the tech field, demanding agility and openness to new ideas. “I find myself learning something new every single day, and it’s why I love my job and this industry and why I’ve been able to grow in my career over the years,” she admits, adding that in order to thrive in the business world, especially as a female leader, it is essential to commit to lifelong learning and instill that mindset in your team. “There is power in numbers and there is power in building connection, sharing our stories and empowering one another to do the same. As women, we should stay dedicated to collaboration, integrity and solidarity. We can redefine entrepreneurship’s future and pave the way for upcoming generations of female leaders who will continue to change our world for good,” she concludes.

Five P’s Women Entrepreneurs Need To Exercise

A second remarkable woman who epitomizes the essence of female empowerment is Ontario-born entrepreneur, Laura Robinson (no relation to me), who has forged an entrepreneurial career path inventing games and selling laughter for forty years. Not only has she turned fun into fortune but her work is helping people connect and bringing the nation together in a time of turbulence and disconnection.

In her mid-twenties, Robinson and partner Paul Toyne created the international mega-hit, Balderdash. Next came party games like Pictionary Mania, Identity Crisis and Size Matters. Perhaps her biggest claim to fame was her role as Emmy-nominated executive producer and creator of the hit show, Celebrity Name Game, hosted by Craig Ferguson. But her business ventures haven’t ended there. Earlier this year, Robinson debuted her creative force as executive producer (along with Richard Gerrits) with the new show Blank Slate, hosted by Mario Lopez on Game Show Network.

Robinson cites five P’s for women entrepreneurs: passion, packaging, pitching, persistence and pivoting.

1- Passion. Robinson explains that the process starts with having passion for your ideas, and that gets the juices going.

2- Package. You create a package in which you do the research and show why your product is better than what’s already out there and if there’s a place for it in the market.

3- Pitch. Next, she says, you pitch your idea until someone accepts it.

4- Persistance. If the pitch falls short, you muster the persistence to keep knocking on doors.

5- Pivot. If the persistence isn’t working after a while, you pivot and do something differently to get your message out there.

Robinson insists that whatever you’re trying to do as a woman entrepreneur, if you believe in it and have passion for it, you can achieve it. “I’m driven with so many spinning plates, and there’s always more and more I want to do,” she concludes. “My husband tells me, ‘You’ve made millions of people laugh all over the world. Isn’t that enough for you?’ And I say it’s not enough, but when I remind myself I’ve been selling laughter for forty years—something that does good in the world—that’s a good feeling.”