17 December 2017

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Planning a Must for Women Entrepreneurs

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Entrepreneurship is no more an exclusive bastion for men. Today, women not only give tough competition to men in education qualification but throw an equally fierce challenge in business. Recognising their innate abilities which beckon success in entrepreneur ventures, they have stepped armored in business. They dexterously handle both the family human resource and finance departments. They are revered with awe and wonder when it comes to managing the household with a limited financial resources and weaving a cord of bonhomie among the family members.

Added to these, women need to be farsighted planners too when they step into the shoes of an entrepreneur. This is more necessitated by the fact that they have to juggle between home and business, the territories that are strewn with unexpected situations and risks. Since entrepreneurial start-ups demand undivided attention in the founding years, starting the business at the right time plays a decisive role in its development and success. Right time can be defined as that time when she is not overloaded with family hassles and is ready to take on professional demands.

Often in many cases, it is seen that family problems obstruct the women entrepreneurs from investing healthy attention in the business. Since it is she who owns and manages the whole business, a head fraught with tension serves no purpose. Besides, she also shoulders the onus of securing the livelihood of some people. While playing such a grave role, discerning the possible conditions that can emulate from starting her family needs to be factored in. Indian culture and ethos expect women to contribute in the relationship as well as look after the family. From this standpoint, the chances of getting imbalanced are quite high.

Considering an example here will help visualize the situation and comprehend the requirement of planning for women entrepreneurs in a better way. What possible situations may arise when the year of marriage coincides with the commencement of the start-up? When this question was asked to some women entrepreneurs, an array of answers came to the fore. Sharmila Mukherji, owner of Style, boutique, Cuttack said, “During our times we did not know about the tenets of time management as well as speculating the right time to start the business. As a result of this I started the business the same year in which I got married. The situation became as unstable and bothersome as sailing on two boats at the same time.” She further added that it is also advisable to plan for the family either before starting the business or when the business is in a matured stage and can be managed to some extent by the employees.

“The initial years of the business pose many challenges as well as unexpected situations. It is like learning every tit-bit to gradually foster ones hold on it. Therefore for women entrepreneurs, inclusive planning that means considering the family and deciding the steps has seminal importance,” advised Rama Bhuban, who runs a confectionary factory in Bhubaneswar. 

Planning can be defined as a protocol of the sequence of future actions after a thoughtful analysis of what may be the logical exit of one action and the entry of another. Such an exercise not only takes into account the various resources in use but also how to handle problems. Emphatically planning also harnesses mental preparation requisite to face foreign situations. This is, however, not possible when a step is taken in haste. In order to avoid the fate of many women entrepreneurs who suffer the closure of their organisations, aspiring women entrepreneurs need to be discreet about the ‘time’ factor. Although human life is laced with uncertainties, planning, to some extent, can greatly decrease the unfavorable circumstances.

 

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