Women Entrepreneurs - 10 keys to get up and running

Yeesh. The women will surpass men in new businesses about 2 to 3. Latin American women in particular are entering entrepreneurial ranks full speed, surpassing every other demographic group.

So why the heck are women losing ground in the pool of risk capital? Less than four percent of venture-backed companies are headed by women, the lowest in ten years.

Four percent.

It is much better for angel investors. Only ten percent of angel money goes to businesses run by women.

As I said, yeeeeesh.

Not that money is not there. In contrast, there are billions and billions of dollars in new venture capital funds and angel groups again. To monitor these funds, and I know there's a lot of money there.

So how come women are not always their fair share?

The simple answer is that business investment venture capital and angel are managed by men.

More importantly, what can we do? While there is no magic answer, there are some practical steps that women can take to make their business a success.

1. Bootstrap the company. Over 90% of all companies are still bootstrapped, financed by the owners. Male, female, Hispanic, disadvantaged - it makes no difference. This is still the best way to finance a business.

2. Embedding. If you take your business seriously, others are more inclined to do the same.

3. Creating a strong Advisory Council. Few things say as much about your company as those who choose to put their names on it. An advisory committee drawn from the strong sector, composed of men and women, is a huge asset.

5. Create a strong business plan. Remember, your business plan does not intend to sell the business - you want to sell. Your skills, and those of your management team, are the real key to a strong business plan. Everything else is secondary.

6. Network like your life depended on it, because in truth, your economic life may depend on your contacts.

7. Creating an Internet presence. The next generation will find its success anchored on the internet. Be there.

8. By-pass traditional funding sources and go directly to businesses. Many companies have venture capital arms with the sole purpose of identifying and promoting the technology in their fields. And, there is money in the venture capital arms of those right now.

9. Promote your business before it becomes more and more a business. Pre-publicity can bring attention to people's finances in your area, and at least can begin to create buzz about your business.

10. Do not shy away from "women's businesses." There is a lot of money in these portfolios.

Yes, it is still very likely that you can have the business of your dreams. It is happening every day thousands of women.

By the way, did you know that approximately 80 percent of venture capital funded businesses fail? Without doubt, the activities undertaken by women have a much better batting average than that.

Go for it .......