Women stop saying sorry, it keeps you from getting capital!
As little brother with 2 sisters, and father of 3 girls I do have some experience with how often women apologize. Not to me as a father, but yes in the interactions with the outside world. In my work I am also surrounded by mostly women and indeed, I think women should stop saying sorry. Or at least reduce the number of occasions they apologize. So, when at the end of Democratic presidential debate, only the women took the opportunity to say…. sorry for what their behavior during the campaign might(!) have caused the other nominees it did not surprise me.
But it made me think, why do women apologize and do men think they do not have to say sorry for their behavior? And more important, could this be a hurdle to be successful? Research taught me in the US this behaviour cost every woman on an average half a million dollars in wages by age 60. That is $ 500,000 to avoid any misunderstanding! This is all because women are way to modest in self -promotion. For this I want to beg you, please stop saying sorry because it will keep you from getting capital for your business!
Men know how to promote themselves better
A decade old survey showed men are much better in self-promotion than women. Although everybody understands it is important to promote your own effort and success, for women this seems to be much more difficult. Women do worry more about the backlash self -promotion might cause. And this worry comes at a high price as you have read, let me repeat it for you $ 500,000. Society has learned to accept this behaviour. “(Women) are penalized socially for behaving in ways that might be perceived as immodest, and they’re penalized professionally for behaving in ways that aren’t self-promoting,” says Budworth (a psychologist and associate professor in human resources management at York University in Toronto).
It is one of the reasons women face more struggles in getting a loan to finance their business. Because at these moments a guy will tell the loan officer the chances of success of his venture. The loan officer will accept this, even if it not showing any modesty. But if a woman starts the negotiations for a loan, for example for the start of a online hair business, you will start with a less favorable position. It will cost you more to proof you can bring this beauty venture to a success. And the loan officer will see a lack of confidence. You do not think it works this way? What if you knew in 2014 in the US 30% of the small businesses were in the hands of women. But only 5% of the business loans were granted to these women! CBSnews.
Again, stop saying sorry and demand that capital!
I see so many beautiful plans to start a hair business, but also very often the disappointment because a lack of capital kills the dream. For 2020 I want to change this, and I want you to stop saying sorry all the time. You are entitled equally to men to get the funding for your hair business. Start to promote yourself and turn that dream into reality.
Share with me in the comments, is this a clear gender gap or is there another reason you did not get a business loan?
