7 Benefits of Community for Female Entrepreneurs

If you’re a female startup founder looking to grow your business, joining a community of female entrepreneurs is one of the best decisions you can make to take your business to the next level. According to Inc., almost half-of female founders (48%) state that a lack of support and mentorship holds them back.Whether you’re looking for funding or mentorship, it’s vital to network and build relationships with others in the entrepreneurial realm. Communities are for learning, growing, and connecting; and it’s time to harness that power to build your business. Here are 7 benefits of being a part of a community:

  1. Accountability

Setting goals is second-nature for entrepreneurs. However, with the hectic lifestyles entrepreneurs face in their day-to-day lives, it can be easy to slip off course and lose focus on your goals. In a community, you are surrounded by members who become your accountability partners who can not only help you set goals, but also hold you accountable for achieving them. Your potential to accomplish your goals strengthens when you have someone in your corner helping you stay focused.

  1. Relatability 

The entrepreneurial journey is unique for women, as we juggle issues that aren’t relatable to our male counterparts: balancing work and home life, having limited access to capital, being outnumbered, struggling to acknowledge our worth and make bold asks, and more. Female communities enable you to meet other women on  the same journey as you are and create a safe space for you to discuss issues with women who can relate. 

  1. Learning & sharing knowledge 

When you join a community of like-minded entrepreneurs, you are opting-in to a profound world of learning. Typically, those that join a community are excited to learn and help others, so sharing knowledge happens naturally. They can help you brainstorm ideas, work through problems and find solutions, provide business knowledge and expertise, and help you with your business strategy. They will also be thrilled to learn your skills and talents and how you can be valuable to them. 

  1. Support

Getting support from other women is an important part of your journey. It’s the heart of the community. There’s nothing like having a group of women that you can lean on to empower you to be the amazing woman you were called to be. 

  1. Building relationships

Through the power of networking, you are able to connect and build relationships with phenomenal women who eventually become your sisters. Strong relationships can also lead to new business opportunities and connections that can catapult you into the right direction. Like many people say, it’s not just what you know, it’s who you know. 

  1. Brand Collaboration

You will have opportunities to collaborate with innovative women in exciting business deals that can help propel your business forward. An article from the College of Communication at Boston University shares the brilliant benefits of brand collaboration:

  • Attract publicity and build buzz around your brand 
  • Reach new potential customers through cross-promotions
  • Discover new content for your brand 
  • Increase sales and engagement
  • Grow your social media community 
  • Opportunities to engage with your audience 

When women work together, amazing things can happen, but making the right partnerships is key. “The women who learn to work together will accomplish miracles.” -Helen Keller

  1. Personal and professional growth and development

Your network is net worth, and if you are highly engaged with the other women in your community, they can have a positive impact on your personal and professional development.

These women can help you build on your strengths, hone in on your skills, be honest about your weaknesses, and help you improve in your ideal areas. If you’re joining a community, you can get excited about being surrounded by powerful leaders and founders who will have a profound impact on your life. 

The golden community: Joining a mastermind group

One particular type of a community that serves entrepreneurs well are mastermind groups. A mastermind group brings together high performers from different industries with a wide range of perspectives and experiences. The original term “master-mind” was coined by author Napoleon Hill in 1925. The group shares business connections, resources, strategies, advice, and offers personal and professional support. Mastermind groups are golden for those seeking a community. 

Fyli is a Network as a Service (NaaS) business for early-stage female founders, offering education, accountability, peer-to-peer mentorship, leadership advancement and funding opportunities. We are invested in the future of female entrepreneurship.  Our mastermind cohorts are highly curated groups of early-stage female founders chosen based on skill sets, ambition, goals, and commitment to create a 360 ecosystem for female thought leaders. Through master classes, accountability pairing, networking, and resource sharing we are leveling the playing field to prepare every female leader and entrepreneur to SUCCEED. We accept applications year-round and launch a new cohort each quarter. 

Fyli Impact:

  • Cohort members secured $2.3M in funding through the Fylí investor network
  • 80% of Mastermind members improved their personal finances and increased their business revenue
  • Active mailing list of of 12,000+ “friends of Fylí,” including investors, entrepreneurs, corporate partners, advisors and high-level mentors
  • Provided access to mentors, resources and support for female founders to level up their pitches, presentations, and confidence in asking for what they need
  • 100% of Fyli Members surveyed said they feel supported by the community 
  • Prevented burnout for several members, offering support, assistance, and resources in times of crisis
  • Equipped founders with knowledge and key strategies to advance their businesses and amplify their community

Ready to level up? Head over to our site to learn more and apply today > https://fylitribe.com/mastermind/ 

Community can be found in a lot of places, and many entrepreneurs don’t realize that it can be one of the most important aspects of taking their brand to the next level. 

A community of like-minded female founders gives you the ability to meet other women going through the same journeys you are, work through ideas and find solutions, and discuss issues with people who can relate. Whether you’re looking for funding, mentorship, or support from your peers, it’s important to network and build relationships with others in the entrepreneurial realm. A mastermind group is the best option for your business to help you grow a business that lasts.

MEET THE AUTHOR

Alesia Stradford

Alesia Stradford is the Digital Marketing Manager at Fyli and Digital Content Manager at Creative Duality. Over the years, Alesia has fallen in love with content creation, marketing strategy, and graphic design. She understands how important it is to entice consumers with your content, and enjoys using her creative abilities to design marketing materials that catch the eye and produce results. Along with her Marketing background, she is committed to integrating her passion and skills to help brands thrive. She also has a BBA in Marketing.

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7 Benefits of Community for Female Entrepreneurs