How Somerset Helps Female Business Owners

At the recent Hightower Women and Well-th conference, Emily Lassiter shares Somerset’s experience with female business owners and their common characteristics.

Women oftentimes refer to themselves as “accidental business owners.” These women often discover their entrepreneurial spirit after creating a successful product or service without initially intending to start a business. Emily emphasizes the importance of helping these women find their identity as business owners and instilling confidence in their abilities.

She highlights the need for accountability and support, particularly for those who may struggle with the more technical aspects of running a business, such as finances and task management. By fostering collaboration and community, Emily and Somerset offer tailored assistance, including regular meetings to establish goals and accountability. Additionally, they address the psychological aspects of entrepreneurship, stressing the importance of self-care and proper compensation. This focus on well-being is crucial, as many women business owners do not pay themselves adequately, leading to burnout. The conversation also touches on succession planning and exploring identity transitions, as many women find their self-worth tied to their roles as business owners, spouses, or mothers. Emily underscores the importance of supporting these women in navigating both their professional and personal lives.

Highlights

• Empowering Creativity: Many women inadvertently become business owners by turning their creative ideas into successful products or services.
• Building Identity: Helping women embrace their identity as business owners is crucial for their confidence and success.
• Accountability Matters: Establishing regular meetings provides accountability and structure, aiding women in managing their business tasks effectively.
• Collaborative Support: Working collaboratively with community resources enhances support for women business owners.
• Prioritizing Self-Care: Many female entrepreneurs fail to pay themselves adequately, which can lead to burnout and impacts their overall well-being.
• Psychological Aspects: Addressing the emotional journey of entrepreneurship is essential for helping women navigate their roles and identities.
• Succession Planning: Assisting business owners in considering their future beyond entrepreneurship is vital for their long-term success and personal fulfillment.

In conclusion, the discussion emphasizes the unique challenges faced by single women business owners and the importance of providing them with tailored support and resources. By focusing on empowerment, community, and self-care, these women can thrive in their entrepreneurial journeys while maintaining a balanced sense of identity and purpose.