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Women at Halftime Podcast

Oct 29, 2019

Since 46% of the population is thinking about the gig economy, this is a very relevant subject to address with a fairly significant possibility of failure. A gig economy is where your last gig is your last gig—or your last job is your last job. It’s to be in business for yourself as your own boss, as an independent contractor, as an entrepreneur. However, entrepreneurship can be lonely, scary and isolating. You may start strong, but how are you finishing? Anxiety, fear and the imposter syndrome are constantly knocking at your door! For this reason, it is vitally important to have a strong foundation and structure in place. One of those foundational elements is to identify your transferable skills that can be profitable and sustainable.

A floor without a solid foundation or footers will soon sink and even cave in. 84% of entrepreneurs create a business out of choice, not necessity and 70% of the failures happen in year 2-5. Incompetence at 46% is the most common reason why businesses fail with no strong system, foundation or customer base. An encouraging statistic for those at halftime (age 40+) is that a 50 yr. old startup founder is 2.2 times more likely to gain success than a 30 yr. old and 67% of women business owners are age 45 and above. Start with the end in mind (where you want to be in 5-10 years), identify your transferable, marketable skills and create a solid structure. A good solid foundation will increase your chance of success!