As the founder and CEO of Garnysh, a Silicon Valley-based fitness and technology company, I know a thing or two about surviving in business. And as a woman entrepreneur, I’m even more knowledgeable about the challenges female entrepreneurs face in that cutthroat world.
Here are what I consider to be three rules for business success that are easy to remember and can make a big difference in how you approach running your business.
Statistics for women in business are mostly bleak. For example, women still earn 77 cents to every dollar men make and just 7% of female-backed teams get venture funding. A recently released study however, offers a glimmer of positivity. When women have established businesses, they are actually happier than their entrepreneurial male counterparts, as well as rating their well-being more than twice as high as non-entrepreneurs and non-business owners, according to the 2013 Global Entrepreneurship Monitor GEM U.S. Report.
There was one caveat – female entrepreneurs who are just starting out are less happy than male entrepreneurs in the start-up phase, says Edward Rogoff, one of the reports authors. One out of 10 women in the U.S. is starting or running a new business, the report also found. This rate is higher than any of the other 24 developed economies measured.