My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.

Money Master

Helping women overcome their Achilles' heel
Magazine Contributor
2 min read

This story appears in the September 2000 issue of Entrepreneur. Subscribe »

Success in business requires mastering numerous skills. One of the most important is handling money. For many women, this is still a challenge-and that's why financial expert Jennifer Openshaw created a Web site to help women learn about personal finance.

"Women have different financial needs and concerns [than men]," says Openshaw, founder and CEO of the Women's Financial Network. "They didn't grow up talking about money, and they often feel less confident about making major financial decisions." WFN is a comprehensive Web site designed to provide personal financial information to women in a fun, easily digestible way. There's information on saving, investing, reducing debt, budgeting and planning for retirement.

We talked to Openshaw about the financial obstacles woman entrepreneurs face.

Entrepreneur: What money mistakes do women make when it comes to running their businesses?

Jennifer Openshaw: Women don't appreciate their exclusion from a culture that drives funding new businesses; so when they want to jump in and act, they need to listen to and learn about what is essentially a new language. They should find out who's who in the venture capital community and determine which venture capital makes the most sense for their business. If they focus and use their time and energy more effectively, they'll have higher success rates.

Women underestimate themselves but overestimate others. They can be strong, intuitive businesswomen, but they're sometimes afraid to ask the questions crucial to attaining their success.

Entrepreneur:It's been said that women don't know how to get funding. Why?

Jennifer Openshaw: The biggest hurdle is access; part of that is information. Venture capital is dominated by men. Women need to know funding sources and how to think through the structure of deals. They need to find business mentors who can bring support, contacts and negotiating skills to the table.

More from Entrepreneur

Learn to be a better leader and develop successful marketing and branding strategies with Dr. Patti Fletcher's help.
Book Your Session

In as little as seven months, the Entrepreneur Authors program will turn your ideas and expertise into a professionally presented book.
Apply Now

Create your business plan in half the time with twice the impact using Entrepreneur's BIZ PLANNING PLUS powered by LivePlan. Try risk free for 60 days.
Start My Plan

Latest on Entrepreneur