Breaking Barriers, Building Legacies: Stories of Women-Owned Businesses

Published on Nov. 21, 2024 at 6:08 p.m.

By Christina Hunt.

Over the years, women have made their presence known in the business world. For example, there are 114% more female entrepreneurs now than there were 20 years ago, and four out of every 10 businesses in the United States are owned by women.

However, the challenges of running a business and being successful as a woman remain. One of the most prevalent challenges for female business owners is defying societal expectations that traditionally categorize women into roles focused on family care rather than entrepreneurship and leadership.

Overcoming challenges
Jamie Thomas, owner of These Three Boutique, discussed a challenge she and her staff are currently facing while building their business’s own warehouse as females. She said, “Sometimes we wonder if the architects really take us as seriously as they would a male-run company.”

When navigating male-dominated environments, women can feel pressure to adopt to the stereotypical more assertive and competitive “male” traits. However, embracing authenticity, focusing on one’s own purpose and leveraging strengths as a female business owner are essential to success.

Furthermore, Cocolilys Co-owner Chanie Story said, “For us, one of the biggest initial hurdles was earning credibility and being seen as a legitimate business.” Instead of listening to the expectations of society, Cocolilys shifted its focus to overcome this challenge.

“We directed our energy toward building a strong identity, understanding our customer base, and focusing on quality and consistency,” Story said. “By emphasizing a unique style, paying attention to trends and ensuring our social media presence reflected our brand’s authenticity, we created a solid reputation that allowed us to grow.”

Another challenge women-owned businesses face is securing capital and thoroughly understanding financials.

“Female entrepreneurs are often expected to not know their numbers, but the more you understand your financials, the more confident you are in making decisions, whether it’s about expenses, growth or assessing areas of opportunity,” duGard Communications CEO and President Perri duGard Owens said.

Through joining networking groups and training programs, Owens was able to overcome these financial challenges.

“Understanding my finances allowed me to speak confidently in entrepreneurial circles about our revenue growth and profit, rather than just the volume of work or client count,” Owens said. “Being able to say ‘We grew revenue by 35% during Covid’ opened more doors because I was speaking to the viability of my company, not just the services we offer.”

Step toward success
One of the key steps to launching and growing a brand is defining an organization’s mission and brand values.

In today’s competitive environment, where the rate of change is extraordinary, having both a solid mission statement and defined organizational values is more vital than ever. An organization’s mission and values act as a roadmap, leading the organization toward its goals. They both impact business decisions and build customer loyalty. A well-defined mission should symbolize the company’s purpose and reflect the values necessary for maintaining relevance and progress in a dynamic market.

“Our brand values are deeply rooted in authenticity, community and faith,” Story said. “We believe in using our platform to create a welcoming and positive space where individuals can express themselves while feeling inspired, valued and supported.”

At duGard Communications, the team stands firm on the equation “Experience + Strategy = Growth.”

“We love what we do and hold our clients’ interest foremost; we view our relationships as partnerships and are dedicated to their successes,” Owens said. “Our mission is to use communication to inspire thought and action and our mantra, ‘First and always do good,’ is central to our process and client success.”

Effective storytelling is another important factor contributing to the success of women-owned businesses, helping to forge strong connections with consumers and foster a sense of authenticity.

“Storytelling is at the heart of our PR strategy, allowing us to connect authentically with our audience and build a community around our brand,” Story said.

“From the beginning, we’ve used storytelling to convey the inspiration behind our company, sharing the journey of starting the business, the vision for our business and the creative process that goes into it,” Story said. “We share stories about the values that Cocolilys stands for, like self-expression and confidence, to help customers see themselves as a part of our brand’s narrative.”

Story highlights the importance of showcasing the experiences of the company’s customers through sharing testimonials and user-generated content. “This approach not only fosters a personal connection with our audience but also makes Cocolilys more relatable and accessible,” she said.

Leveraging storytelling in a brand’s PR strategy is crucial to allow it to form deeper connections with customers. It also allows a brand to build trust and brand loyalty by humanizing the brand. A brand’s ability to capitalize on storytelling ultimately makes it more memorable, increases engagement and builds positive brand perception.

Margaret Ellis Jewelry (ME), a female-owned business based in Nashville, Tennessee, has a unique story behind its brand. Mclaine Richardson, founder of ME, purchased Margaret Ellis Inc. in January 2013 from its legendary founder, Margaret Ellis. Ellis was a mentor to Richardson, which is why she chose to keep the name “Margaret Ellis” to honor her mentor’s 30-year legacy.

“It is important to us to continually retell the story of ME across all communication channels every chance we get,” Richardson said. “We take great pride in the artistry and expertise of our handmade metalsmith jewelry. We pour our heart and soul into every piece we make, knowing that it will be worn and cherished for many years to come, and that our customers know and feel the difference.”

Building businesses with a purpose
Despite the various challenges women often encounter in the business world, they have continued making significant strides over the years. In 2021, 49% of all new businesses were founded by female entrepreneurs. Furthermore, there are now 12.3 million women-owned businesses in the United States.

Here are some pieces of advice from these female business owners who have conquered various challenges along the way but have stayed true to themselves and successfully started their own businesses.

• “Be true to yourself and find your niche and stick with that. Do not even focus or look at what others do, rather build your own brand that fits with your values and goals.” — Jamie Thomas
• “To create an authentic strategy, shape who you are now and build on that so you can say and show who you are consistently. When you are true to yourself, others will expect and rely on that. Building authenticity takes time. It’s OK not to have it all figured out immediately. Find mentors, be open and let your authenticity develop as you grow.” — Perri duGard Owens
• “Align everything you do with your personal values and passions. The journey of building a business will have its ups and downs, and failure is inevitable — it’s a steppingstone that every successful entrepreneur encounters. Embrace it, learn from it and know it’s part of the process. Authentic PR is simply an extension of who you are and the values that matter most to you.” — Chanie Story
• “Build personal relationships with your customers. The products get customers here, but relationships and how you make them feel are what keep them coming back. Make sure you drive home your core values through everything you do. Don’t worry about what everyone else is doing, although you do need to know!” — Mclaine Richardson

The journey of being a female business owner is marked by both triumphs and challenges. Through building brands rooted in authenticity and purpose, female business owners have continued to break new ground despite the various challenges they encounter. By embracing their unique strengths and staying true to their values, these women have broken down barriers to achieve success, reshaping the professional landscape for aspiring female entrepreneurs.

These stories of passion and perseverance highlight the power of authenticity in driving growth and being a successful female business owner, while inspiring others to follow in their footsteps.