BOSTON, May 19, 2021 /PRNewswire/ -- As business partners Stephanie Worrell and Wendy Ralph saw their own company hit hard during COVID-19, they also began homing in on a disturbing national trend – working women were being disproportionately impacted by the pandemic. It was not only cause for concern, but also the spark for a new venture.
Earlier today, Deloitte released data that clearly shows that the pandemic has taken a heavy toll on working women; the majority are significantly less optimistic about their career prospects today.
- 77 percent of respondents say their workload increased since the COVID-19 crisis broke
- Over half of women surveyed have experienced harassment or non-inclusive behavior at work in the past year
- A majority of respondents are planning to leave their current employer within two years; nearly a quarter may leave the workforce for good
- Women surveyed reported a 35-point drop in mental health and a 29-point drop in motivation at work compared to before the pandemic
"This is an incredibly challenging time, but it also holds unique opportunities for women to chart a new career course," said Worrell, an accomplished Boston-based entrepreneur, business coach and marketing professional. "As we've worked with clients over the past decade, we've seen the fire in their bellies – the ideas, determination and passion are there, but taking that first step is often the insurmountable hurdle. Based on the current data, women now have more incentives to become their own boss."
Through their consultancy firm From High Tide, Worrell and Ralph are determined to remove barriers by guiding one million first-time female business owners through the process of starting their own company.
Additionally, based on data from the U.S. Bureau of Labor Statistic and U.S. Census Bureau, Gallup recently analyzed the pandemic's impact on women – 2.3 million of whom were absent from the workforce as of February 2021. The study asserts the "types of jobs women tend to have were disproportionately affected by the economic slowdown and shutdowns of the past year compared with the types of jobs men tend to have." Not to mention the increased family demands with childcare and school closures.
From High Tide shares the following pointers to make the successful transition to entrepreneurialism.
5 Tips to Starting a Business
- Develop a powerful message – Understand the customer's problem you're trying to solve or your value proposition.
- Write a business plan – A good business plan not only helps entrepreneurs focus on specific steps necessary to make ideas succeed, it also helps achieve short-term and long-term objectives.
- Focus on the customer and fully understand the market – There are many examples of companies that don't have the best product/service or are not first to market, yet are very successful because they mastered online marketing and sales.
- Surround yourself with advisors and mentors – No one person can have all the knowledge, experience, or even perspective to handle every business situation. Gain from others' skills and experiences.
- Understand there are no entitlements – Don't underestimate this. You will work hard for all your achievements.
"We've been through this ourselves as small business owners and now we want to empower other women to do the same - a lot of other women," said Ralph, From High Tide co-founder. "It's time for women to think seriously about charting their own course. Just imagine the impact this can have on one million families – and the U.S. economy at large."
About From High Tide
From High Tide is a multi-channel consultancy firm dedicated to helping one million women start their own businesses. Together, co-founders Stephanie Worrell and Wendy Ralph develop media, products, inspiring content, and a step-by-step road map to guide first-time business owners through overcoming personal and professional obstacles, achieving goals, and becoming the happiest humans possible.
For more information, please visit: www.fromhightide.com
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SOURCE From High Tide