“You’ve got to have the attitude, ‘what have I got to lose?’ If it feels really scary, then that probably means you should do it”, says serial entrepreneur Julia Elliott Brown.
Talking to Michael about the business mindset on last night’s Capital Conversation, Julia reflected on the challenges she faced with her first venture Upper Street. “There comes a point when you have to distance yourself from your business emotionally and see it as a game”.
Following failure after six successful years, it was the fundraising hardships she experienced with Upper Street that inspired her latest venture: Enter the Arena – helping struggling female entrepreneurs to successfully scale their business.
Currently, just 2.7% of investment goes to female founders.
Julia provides women entrepreneurs with expert coaching on gaining that all-important funding.
Why do women struggle? “It’s a multifaceted issue, really,” she says, “there’s definitely a confidence issue, there’s definitely an issue around skills and trading… women are less likely to go for something unless they’ve got all their ducks in a row”.
But that doesn’t mean Julia’s coaching is all about being one of the boys:
“I don’t believe that women entrepreneurs should go out there and try to do it like the guys. Actually, what investors love is the fact that female entrepreneurs are really honest – they have a great amount of integrity with their projections.”
And the answer? “It’s on both ends of the scale”.
On the receiving end, we need more women in the investment community. On the pitching end, as well as “learning the language of investors”, Julia believes Crowdfunding democratises investment opportunities: “[It’s] a safe environment to put your pitch forward!”
Watch the full episode here.
Learn more about Enter the Arena here.