November 20, 2020

Advice From Women-Owned Businesses on Navigating Challenging Times

Y esterday, Boost with Facebook hosted the Women's Small Business Summit — a one-day event designed to guide, inspire and uplift women-owned businesses. The summit featured a mix of training, panels, networking opportunities, and speakers who dug into topics like the myth of work-life balance and the importance of financial strength.

“Women everywhere are feeling the struggle between domestic responsibilities and professional ambition every day,” says Nada Stirratt, Facebook’s VP, North America. “But for women who lead small businesses, maneuvering through this time is especially difficult.”

To help women-owned businesses navigate these challenging times, we’re sharing a few takeaways from three of the female entrepreneurs who participated in the summit, below. If you missed the event, but still want to check out the content, you can watch it on fb.com/womensbizsummit.

You can overcome difficult situations by adding new skill sets.

Facebook’s Global State of Small Business report shows that COVID-19 has impacted women at a higher rate than men, because women are more greatly saddled with domestic duties, child care and more. Small business owner Neha Jain, a self-taught photographer, shared her secret to balancing and growing during COVID-19: “My biggest strength is my adaptability and striking a new skill set,” says Neha. “Our current conditions are not going to change soon, so the only way to overcome this situation is to add a new skill set that can serve the needs of my clients and find balance in my family by doing things better.” Neha has started taking on outdoor shoots and doing what she calls “mini sessions” to better accommodate the needs of her clients during the pandemic.

You’re more flexible than you think you are.

Jenn Jung, Owner of dessert shop Baker’s Recovery, talked about the importance of resilience and flexibility. “I’ve learned that I am far more flexible than I thought I was, and had the ability to create contingency plans,” says Jenn. “This pandemic is something that we’ve never dealt with before, so I had to figure out how to stretch my money to get the greatest return.” Jenn put her flexibility to the test by determining how long she could comfortably float her business, and then deciding if that would be a viable plan or not.

When you partner with others, you’re capable of more.

Margie Wildason, Owner of Tutunyou, a baby and children’s tutu store, shares how Facebook has helped her grow her community. “I have a friend in one field who never got promotions, other friends in the gym space who’ve had to work twice as hard to keep their businesses running, and they work 10x harder to stay afloat,” says Margie. “There are so many Facebook Groups that are women-focused and a great source of community.” Partnering with other women-owned businesses, groups, institutions and influencers can help expand your offerings, create change and reach new audiences. By coming together, women-owned businesses can connect, inspire, learn and share with each other.

“The power of women is the power of collaboration," says Shelley Zalis, CEO and Founder of the Female Quotient. "We are so good at creating relationships of change." Join the Boost with Facebook Group to network, learn about upcoming virtual events and share knowledge with other small business owners who are doing big things.

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