Empowerment and Motivation Techniques for Women Entrepreneurs
Unit 1: Cultivating Resilience and Perseverance
Unit 2: Goal Setting and Action Planning
Unit 3: Helping Women Develop Soft Skills
Unit 4: Fostering Networking and Peer Support
In this module you will find
INTRODUCTION
Aim & Competences
THEORETICAL BACKGROUND
Key concepts, background information, relevant theories
ACTIVITIES
Exercises, self-reflection & practical resources to promote inclusive e-learning
Glossary
The most important words of the module
USEFUL TIPS
Advice, ideas and proposals on relevant issues
INTRODUCTION
AIM
This module aims to:
- Provide participants with fundamental knowledge and skills to develop their confidence, motivation, and entrepreneurial mindset.
- Present empowerment and motivation techniques tailored to women entrepreneurs.
- Equip trainers with tools to support the professional and personal growth of women entrepreneurs.
Competences
Empowerment in Entrepreneurship
Knowledge: Principles of empowerment, challenges for women entrepreneurs.
Skill: Strategy development, confidence and decision-making coaching.
Attitude: Growth mindset, empathy, empowerment culture promotion.
Developing Soft Skills
Knowledge: Importance of communication, negotiation, emotional intelligence.
Skill: Real-world practice, role-playing, workshop facilitation.
Attitude: Commitment to continuous improvement, feedback receptivity.
Networking and Peer Support
Knowledge: Significance of professional networks, peer support benefits.
Skill: Networking engagement, social media use, peer group leadership.
Attitude: Proactive mentorship, valuing others, community success commitment.
Enhancing Entrepreneurial Empowerment
Knowledge: Empowerment in entrepreneurship, self-leadership, decision-making autonomy.
Skill: Goal-setting, assertive communication, strategic thinking.
Attitude: Self-efficacy, confidence, empowerment culture encouragement.
UNIT 1
Cultivating Resilience and Perseverance
Unit 1
Resilience and perseverance are critical for overcoming the numerous challenges and setbacks that entrepreneurs inevitably face. Research has shown that resilient entrepreneurs are better equipped to handle stress, adapt to changing circumstances, and bounce back from failures or adversities.
One key aspect of resilience is the ability to manage stress effectively. Chronic stress can lead to burnout, impaired decision-making, and negative health consequences. Entrepreneurs who practice stress management techniques, such as mindfulness, exercise, and seeking social support, are better able to maintain their resilience and perseverance.
Another important factor in resilience is the ability to reframe setbacks as learning opportunities. Resilient entrepreneurs view failure as temporary and recoverable, rather than catastrophic events. They adopt a growth mindset, focusing on what can be learned from the experience and how to improve moving forward.
Perseverance, on the other hand, involves the sustained effort and determination to overcome obstacles and achieve long-term goals. Persistent entrepreneurs can maintain their motivation and commitment, even in the face of rejection, criticism, or financial difficulties.
Multiple studies have demonstrated the importance of resilience for entrepreneurial success. A 2017 survey by EY found that 90% of entrepreneurs believed resilience was crucial, allowing them to pivot strategies after early failures. Resilient entrepreneurs view setbacks as temporary and recoverable rather than catastrophic. They maintain optimism and persist through challenges.
Perseverance is equally essential, especially for overcoming the inevitable obstacles in an entrepreneurial journey. According to research by Stanford University, entrepreneurs who persevere are 50% more likely to successfully acquire funding for their ventures. They tenaciously pursue their goals without getting discouraged by rejection or barriers. Giving up prematurely is a key reason why many startups fail to reach their potential.
Psychologists emphasise that resilience and perseverance are learnable skills that can be developed over time through training and self-awareness. Techniques like cognitive restructuring, stress management, and fostering a supportive network can all enhance an entrepreneur’s ability to bounce back and push forward resiliently.
USEFUL TOOLS
“Mind Over Matter”
“Mind Over Matter” is a principal suggesting that the mind has the power to affect physical conditions and the environment. It involves using mental discipline and focused intention to overcome physical challenges and achieve personal goals. Techniques like meditation, positive self-talk, and mindfulness are associated with this concept, which is rooted in the belief that mental processes can shape reality.
“Grit: The Power of Passion and Perseverance”
“Grit: The Power of Passion and Perseverance” is a book by Angela Duckworth that defines grit as the combination of passion and perseverance towards long-term goals. Duckworth argues that grit is a more significant predictor of success than talent or intelligence. The book outlines the importance of a growth mindset, deliberate practice, and maintaining persistence in the face of challenges. It also discusses how grit can be developed through cultivating psychological assets like interest, practice, purpose, and hope.
"Mind Over Matter"
“Mind Over Matter” is a comprehensive practical guide with exercises to develop mental resilience and overcome adversity.
Grit: The Power of Passion and Perseverance
“Grit: The Power of Passion and Perseverance” by psychologist Angela Duckworth is a renowned book about the importance of sustained perseverance and passion for long-term goals.
Grit Book
UNIT 2
Goal Setting and Action Planning
UNIT 2
Setting clear, realistic goals and creating detailed action plans to achieve them is crucial for entrepreneurial success. Establishing well-defined objectives provides direction, focus, and motivation, while proper planning facilitates effective implementation and tracking of progress.
Research studies have consistently highlighted the importance of goal setting for small businesses and startups. A 2015 study by Locke and Latham found that entrepreneurs who set formal written goals ended up growing their revenue almost 50% more than those without defined goals.1 Clearly articulated objectives give a sense of purpose and drive, propelling entrepreneurs forward.
However, goals alone are not enough – they must be accompanied by comprehensive action plans that outline the specific steps, timelines, resources needed, and strategies to overcome potential obstacles. A study by Wharton University revealed that even among founders with similar expertise and resources, those with more detailed operational planning were 12% more likely to successfully grow their ventures.
Step-by-step action plans help prioritise tasks, allocate resources optimally, and maintain accountability through progress monitoring. The process of goal setting and planning itself is also beneficial, as it stimulates strategic thinking, creativity, and contingency planning in anticipation of challenges that may arise.
By setting well-defined goals using the SMART (Specific, Measurable, Achievable, Relevant, Time-bound) framework and creating comprehensive action plans, female entrepreneurs can increase their chances of success, growth, and overcoming the obstacles they may face in their entrepreneurial journey.
Setting SMART Goals
When setting goals, it’s important to make them Specific, Measurable, Achievable, Relevant, and Time-bound (SMART). SMART goals provide clarity, focus, and a way to track progress effectively.
Examples:
- Increase monthly revenue by 20% within the next 6 months.
- Launch a new product line for eco-friendly home goods by Q3 2024.
- Secure $100,000 in seed funding from investors by December 31, 2024.
Creating Actionable Plans
Once SMART goals are defined, the next step is to create a detailed action plan outlining the specific steps, timelines, resources needed, and potential obstacles to achieve each goal.
An effective action plan should include:
- Breakdown of the goal into smaller, manageable tasks
- Deadlines and milestones for each task
- Assignment of roles and responsibilities
- Identification of required resources (financial, human, etc.)
- Contingency plans to address potential risks or setbacks
Benefits of Goal Setting and Planning
- Provides direction, focus and motivation
- Facilitates prioritisation and optimal resource allocation
- Allows for progress tracking and accountability
- Stimulates strategic thinking and anticipation of obstacles
- Enhances cognitive abilities like problem-solving and decision-making
By setting SMART goals and creating comprehensive action plans, women entrepreneurs can increase their chances of success, growth, and overcoming the challenges they may face in their entrepreneurial journey.
USEFUL TOOLS
Wrike Free Project Management Tool
Wrike’s Free Project Management Tool is a cloud-based platform that offers comprehensive project management features. It provides visibility and control over tasks, enabling individuals and teams to manage projects efficiently from start to finish. Key features include customizable workflows, Gantt charts, real-time updates, and robust security measures. Wrike helps reduce internal emails and meeting times significantly, enhancing overall productivity.
Best Self Co. Action Plan Templates
Best Self Co. provides action plan templates designed to help individuals and teams set and achieve their goals effectively. These templates guide users through defining clear objectives, assigning tasks, setting deadlines, and tracking progress. They are useful for improving personal and professional productivity by providing a structured framework for goal achievement.
Goal Buddy App
Goal Buddy is an app focused on setting, tracking, and achieving personal goals. It offers features for creating detailed goals, assigning specific tasks, setting deadlines, and monitoring progress. The app is designed to enhance self-discipline and help users maintain focus on their long-term objectives.
The Action Plan Workbook
The Action Plan Workbook is a practical tool for planning and executing actions to achieve specific goals. It assists users in defining goals, breaking them down into actionable steps, assigning responsibilities, and tracking progress. This workbook is particularly useful for organizing efforts towards goal achievement in a methodical manner.
Wrike Free Project Management Tool
An easy-to-use online goal setting app that helps you define SMART goals, break them down into actionable steps, and track your progress over time.
Best Self Co. Action Plan Templates
A variety of downloadable action plan templates and worksheets to effectively plan out your goals, tasks, timelines, and potential obstacles.
Goal Buddy App
A mobile app that combines goal setting with action planning, allowing you to set goals, outline step-by-step plans, and get reminders to stay on track.
The Action Plan Workbook
A comprehensive workbook from MindTools that guides you through the full process of setting motivating goals and creating detailed, customized action plans.
UNIT 3
Helping Women Develop Soft Skills
Soft skills, such as communication, leadership, and emotional intelligence, are crucial for entrepreneurial success, particularly for women who often face unique challenges in male-dominated industries. Research shows that female entrepreneurs who possess strong soft skills are more likely to secure funding, build effective teams, and navigate complex business relationships.
Developing soft skills can help female entrepreneurs in several ways:
1- Communication Skills: Effective communication is essential for pitching ideas, negotiating deals, and building relationships with stakeholders. Training in active listening, public speaking, and written communication can boost confidence and credibility.
2- Leadership and Management: Strong leadership and team management skills are vital for motivating employees, delegating tasks, and making strategic decisions. Programmes that focus on decision-making, conflict resolution, and emotional intelligence can enhance women’s leadership capabilities.
3- Networking and Relationship Building: Building a robust professional network is crucial for accessing resources, finding mentors, and identifying opportunities. Training in networking strategies, personal branding, and interpersonal skills can help women entrepreneurs expand their connections and support systems.
4- Time Management and Prioritisation: As entrepreneurs juggle multiple responsibilities, time management and prioritisation skills become essential. Training in productivity techniques, goal setting, and work-life balance can help women entrepreneurs manage their time effectively and avoid burnout.
Useful Tools
Mind Tools
Mind Tools for Managers offers a comprehensive guide to handling nearly any workplace challenge. It is designed to be practical and accessible, providing quick solutions to common management issues such as office politics, team development, and communication skills. The book is filled with actionable advice drawn from the experiences of over 15,000 managers and leaders, making it a valuable resource for both new and experienced managers.
Coursera Soft Skills Courses
Coursera offers a range of courses focused on developing soft skills, which are crucial for professional and personal success. These courses cover essential skills such as communication, teamwork, problem-solving, and adaptability. The “People and Soft Skills for Professional and Personal Success Specialization” provided by IBM on Coursera is particularly notable. It includes training on creating impactful presentations, collaborating effectively, and enhancing communication skills. This specialization is suitable for individuals at any career stage, aiming to improve their soft skills for better job performance and career advancement.
Women Unlimited Platform
Women Unlimited offers various programmes designed to support women’s transition from managerial roles to leadership positions. Their approach includes mentoring, education, and networking, tailored to empower women and enhance their leadership capabilities. The programmes are structured to provide on-the-job learning, set development goals, and benchmark best practices, making them highly effective for women at different stages of their professional journeys.
Skillcrush Career Blueprints
Skillcrush provides immersive online courses, known as Blueprints, aimed at teaching tech skills such as web development and digital design. These courses are designed to be accessible and manageable, even for beginners. Skillcrush Blueprints are particularly beneficial for those looking to change careers into tech, offering hands-on projects that build both skills and a professional portfolio. The courses also support learners in creating a strong digital presence, which is crucial for securing jobs in the tech industry.
Mind Tools
An online resource offering practical guides, courses, and tools for developing various soft skills like communication, leadership, and time management
Develop your personal wellbeing and career skills - Mind Tools
Coursera Soft Skills Courses
A wide range of online courses from top universities and companies, covering topics like emotional intelligence, negotiation, and public speaking
Women Unlimited
An online platform offering virtual training programs, workshops, and coaching focused on building leadership, communication, and other essential soft skills for women professionals and entrepreneurs
Skillcrush Career Blueprints
A series of online courses designed to help women develop in-demand soft skills like project management, public speaking, and emotional intelligence for career advancement and entrepreneurial success
UNIT 4
Fostering Networking and Peer Support
Networking and peer support are invaluable for female entrepreneurs, as they can provide access to resources, mentorship, and a sense of community. Research has shown that female entrepreneurs who actively engage in networking and peer support groups experience higher levels of success, resilience, and overall well-being.
Unit 4
Fostering networking and peer support can benefit female entrepreneurs in the following ways:
1- Access to Resources and Opportunities: Networking allows female entrepreneurs to connect with potential investors, partners, and clients, opening doors to new opportunities and resources.
2- Mentorship and Guidance: Engaging with experienced entrepreneurs and industry leaders through networking events or peer support groups can provide valuable mentorship, advice, and guidance for navigating challenges and making informed decisions.
3- Emotional Support and Motivation: Entrepreneurship can be a lonely and challenging journey. Peer support groups offer a safe space for women to share experiences, seek advice, and find motivation and encouragement from others facing similar struggles.
4- Collaboration and Partnerships: Networking and peer support can lead to collaborative partnerships, joint ventures, or strategic alliances, enabling female entrepreneurs to pool resources, expertise, and networks for mutual benefit.
5- Professional Development and Learning: Networking events, workshops, and peer support groups often provide opportunities for professional development, skill-building, and knowledge sharing, helping female entrepreneurs stay up-to-date with industry trends and best practices.
Useful Tools
Ellevate Network
Ellevate Network is a global professional women’s network that aims to support and promote gender equality in the workplace. It provides a community for women and femme-identifying, non-binary individuals to lean on and learn from through networking, education, inspiration, and opportunity. Founded in 1997, Ellevate serves women across various industries and offers networking events, webinars, and career advice on topics such as personal branding, business growth, mentorship, and work-life balance. The network also features innovative online programmes like Ellevate Squads, which are small groups that pledge to support each other in reaching their goals. Ellevate partners with companies to help them engage their female employees and has chapters in multiple locations worldwide.
Women’s Entrepreneurial Resource Center (WERC)
Women’s Employment & Resource Center (WERC) is an organisation that provides support to women who are seeking assistance in their professional journeys. WERC offers a variety of programmes and services designed to help women transition from managerial roles to leadership positions, focusing on mentoring, education, and networking. The organisation aims to empower women and enhance their leadership capabilities, providing on-the-job learning, development goals, and best practices benchmarking. WERC also hosts sessions for volunteers, community partners, and employers interested in getting involved, and it accepts donations to support its services.
Lean In Circles
Lean In Circles are small peer groups that meet regularly to offer mentorship, support, and skill-building opportunities. These circles are part of the Lean In organisation, which was inspired by Sheryl Sandberg’s book “Lean In.” Circles consist of 8-12 members who share similar interests and meet monthly to discuss various topics, including personal branding, effective communication, and leadership. The Lean In website provides free online tools, meeting guides, and resources to help moderators organise and run circles effectively. Lean In Circles have been credited with fostering positive changes in members’ lives, with many women taking on new challenges because of their participation.
Entrepreneurs’ Organisation (EO)
Entrepreneurs’ Organisation (EO) is a global non-profit network that supports entrepreneurs in achieving their full potential. Founded in 1987, EO provides a high-quality support network for over 18,000 members across 61 countries. The organisation offers life-enhancing connections, shared experiences, and collaborative learning opportunities. EO hosts bi-annual learning events called “universities” where members come together to learn, and it provides access to a global directory and private groups for networking and business support. EO focuses on helping entrepreneurs achieve transformational growth and enriches members’ lives through dynamic peer-to-peer learning and connections to experts.
Useful Tools
Ellevate Network
A global professional women’s network that offers networking events, mentorship programs, and online resources specifically for women in business and entrepreneurship
Women's Entrepreneurial Resource Center (WERC)
Provides networking opportunities, workshops, and a supportive community for women entrepreneurs, including a virtual peer advisory group.
Women's Entrepreneurial Resource Center (WERC)
Provides networking opportunities, workshops, and a supportive community for women entrepreneurs, including a virtual peer advisory group.
Lean In Circles
Lean In’s peer support groups allow women to connect, share experiences, and receive advice from other professional women in a confidential setting.
Entrepreneurs' Organization (EO)
A global network of over 14,000 entrepreneurs, offering peer-to-peer learning, mentorship, and networking opportunities through local chapters.
KEY TAKE AWAY
- Cultivating Resilience and Perseverance (Unit 1):
- Emphasises the importance of resilience and perseverance for overcoming entrepreneurial challenges.
- Highlights techniques for managing stress and viewing setbacks as learning opportunities, which are crucial for maintaining motivation and a positive outlook.
- Goal Setting and Action Planning (Unit 2):
- Stresses the significance of setting clear, realistic goals and creating detailed action plans.
- Introduces the SMART framework to ensure goals are Specific, Measurable, Achievable, Relevant, and Time-bound, facilitating effective implementation and progress tracking.
- Helping Women Develop Soft Skills (Unit 3):
- Focuses on the development of essential soft skills such as communication, leadership, and emotional intelligence.
- These skills are vital for securing funding, building effective teams, and managing complex business relationships, particularly in male-dominated industries.
- Fostering Networking and Peer Support (Unit 4):
- Discusses the critical role of networking and peer support in providing access to resources, mentorship, and emotional support.
- Encourages active engagement in networking events and participation in peer support groups to build a strong support system that enhances business success and personal growth.
GLOSSARY
The process of building and maintaining professional relationships for mutual benefit.
The exchange of knowledge, experiences, and emotional support among individuals facing similar challenges or situations.
The guidance and advice provided by an experienced individual to help develop the skills and knowledge of a less experienced person.
The continuous process of acquiring new knowledge, skills, and competencies to enhance one’s career and personal growth.
The act of working together towards a common goal, combining resources, expertise, and efforts.
REFERENCES
- Bullough, A., & Renko, M. (2013). Entrepreneurial resilience during challenging times. Business Horizons, 56(3), 343-350. https://www.sciencedirect.com/science/article/abs/pii/S0007681313000025
- Fisher, R., Maritz, A., & Lobo, A. (2016). Does individual resilience influence entrepreneurial success? Academy of Entrepreneurship Journal, 22(2), 39-53. https://www.academia.edu/31316272/DOES_INDIVIDUAL_RESILIENCE_INFLUENCE_ENTREPRENEURIAL_SUCCESS
- Hayward, M. L., Forster, W. R., Sarasvathy, S. D., & Fredrickson, B. L. (2010). Beyond hubris: How highly confident entrepreneurs rebound to venture again. Journal of Business Venturing, 25(6), 569-578. https://doi.org/10.1016/j.jbusvent.2009.03.002
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- Locke, E. A., & Latham, G. P. (2015). Breaking the rules: a historical overview of goal-setting theory. In Advances in motivation science (Vol. 2, pp. 99-126). Elsevier. https://doi.org/10.1016/bs.adms.2015.05.001
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- Bullough, A., Guelich, U., Manolova, T. S., & Schjoedt, L. (2021). Women’s entrepreneurship and culture: gender role expectations and identities, societal culture, and the entrepreneurial environment. Small Business Economics, 57(2), 691-705. https://doi.org/10.1007/s11187-020-00429-6
- Brush, C., Edelman, L. F., Manolova, T., & Welter, F. (2019). A gendered look at entrepreneurship ecosystems. Small Business Economics, 53(2), 393-408. https://doi.org/10.1007/s11187-018-9992-9
- Kanze, D., Huang, L., Conley, M. A., & Higgins, E. T. (2018). We ask men to win and women not to lose: Closing the gender gap in startup funding. Academy of Management Journal, 61(2), 586-614. https://doi.org/10.5465/amj.2016.1215
- Neumeyer, X., Santos, S. C., Caetano, A., & Kalbfleisch, P. (2019). Entrepreneurship ecosystems and women entrepreneurs: A social capital and network approach. Small Business Economics, 53(2), 475-489. https://doi.org/10.1007/s11187-018-9996-5
- Bernardino, S., Santos, J. F., & Ribeiro, J. C. (2016). Social entrepreneurship: Does institutional environment make a difference? In Handbook of Research on Entrepreneurial Success and its Impact on Regional Development (pp. 513-538). IGI Global. https://www.researchgate.net/publication/285926589_Social_Entrepreneurship_Does_Institutional_Environment_Make_a_Difference
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- Tanis, D. J. (2020). The power of entrepreneurial ecosystems: How community support networks impact female entrepreneurs in the United States. Journal of Business Venturing Insights, 14, e00205. https://doi.org/10.1016/j.jbvi.2020.e00205
Funded by the European Union. Views and opinions expressed are however those of the author(s) only and do not necessarily reflect those of the European Union or the European Education and Culture Executive Agency (EACEA). Neither the European Union nor EACEA can be held responsible for them.
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