⚡ Get All Content for 20% Off ⚡

Young Female Entrepreneurs' Advice on Securing Funding These ladies have found success getting money for their companies. Here's how they did it.

By Rebekah Epstein

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

melissathompson.com
Melissa Thompson

As I mentioned before, the world better be prepared, because there is a new, fearless breed of young female entrepreneurs taking over.

These ladies are making their dreams a reality by putting their ideas out there, rallying for support, and most importantly, not taking "no" for an answer. When it comes to getting funding, these female business owners know how to make it happen, despite their age.

I would say that most people never even try to get their idea off the ground because of money (or lack thereof). It is extremely scary not knowing if your product/service will be a financial success.

Unless you were born with a trust fund, it is almost impossible to start a business without some kind of outside help. Whether you are just asking your parents for money to get your amazing, life-changing invention off the ground, or taking your pitch to the most powerful VCs in Silicon Valley, there are certain things you can do to be more convincing.

Related: Leadership Lessons from Young Female Entrepreneurs

The young female entrepreneurs that I spoke with were able to gain pretty impressive amounts of funding. Here is some of the advice that they shared:

Listen to feedback. If you are asking people for money, they naturally might have a few concerns that they need addressed before forking over the cash. As an entrepreneur, you live and breathe your brand, so it can sometimes be hard to see the flaws. Make sure that you always listen to feedback, and take it into consideration. However, you also have to know which parts of your idea are set in stone. It can be detrimental if you change your business too much based off suggestions.

Melissa Thompson, CEO and Founder of TalkSession, said that when she walks into a potential investor meeting, she is "confident, but still open-minded to new perspectives an investor might bring."

Don't let rejection stop you. The reality is, as an entrepreneur, you will hear "no" a lot more than you ever hear "yes." If you accept this reality from the beginning, rejection will be easier to swallow. ZappRX CEO Zoe Barry's advice on dealing with the naysayers? "Visualize success -- if you believe you can do it, you will do it. I never said 'if' I raise money, I always said 'when' I raise money. It was never a question of 'if' for me." She has raised $1 million in funding.

Related: 4 Things Investors Need to Know About Your Startup

Change your mindset. Thompson from TalkSession said it best, "Often as entrepreneurs, we feel like David going up against Goliath. But really, investors need good entrepreneurs just as much as we need good investors." She adds, "A meeting between investors and founders should not feel like the investor interviewing the founder, as much it is should be akin to professional dating."

Sometimes we forget that, as a business owner, we are not at the mercy of our customers, investors, clients, etc. They need our products/services too!

Let your confidence and passion speak for you. With Bono as one of her investors, Shop-Hers founder Jaclyn Shanfeld has learned a thing or two about wooing potential investors. She said, "Don't try and 'sell' them anything. Speak from the heart and speak with conviction. Ideas are a dime a dozen, but truly impassioned entrepreneurs that can execute are rare."

TalkSession's Thompson added, "I feel confident because I approach investors with pure intentions and a well-researched approach, a leadership style that shows decisiveness and ability to achieve milestones, a clear execution plan, a solid group of champions and experts with skills that supplement mine."

Related: Here Is How to Get a VC's Attention

Rebekah Epstein

Founder and Publicist, Fifteen Media

Rebekah Epstein is the founder of fifteen media, an agency that works exclusively with PR firms to streamline media relations in a digital era. She specializes in representing technology, health care, business and lifestyle companies.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Side Hustle

The Remote Side Hustle a 43-Year-Old Musician Works on for 1 Hour a Day Earns Nearly $3,000 a Month: 'All From the Comfort of Home'

Sam Ziegler wanted to supplement his income as a professional drummer — then his tech skills and desire to help people came together.

Business News

Costco CFO Reveals Uncertain Fate of $1.50 Hot Dog and Soda Combo

CFO Richard Galanti reveals that the price will stay the same — but only "for a while."

Business News

The Most Unexpectedly Popular Side Hustle of the Decade Has Low Startup Costs and High Markups

A new report shows that vending machines are a popular investment — and the industry is set to grow up to $3 billion by 2031.

Marketing

Ever Wonder Why Certain Websites Rank Higher Than Yours? This SEO Expert Reveals The Secret to Dominating Search Results

It's often the smart use of SEO, now supercharged with AI, particularly in keyword optimization.

Business News

AI Is Impacting Jobs. Here Are the Gigs Affected the Most, According to an Analysis of 5 Million Upwork Postings

The researcher said in the report that freelance jobs were analyzed first because that market will likely see AI's immediate impact.

Leadership

Former Interrogator Shares 5 Behaviors Liars Exhibit and How to Handle Them

Five deceptive behaviors to look for and how to respond to those behaviors when you encounter them.