"If you have the knowledge, let others light their candles in it." Margaret Fuller
New Methods, led by Sharmadean Reid, is your weekly installment of part philosophy, and part strategy discussions designed to help you step into your power. “Doing the work can be tough,” says Reid adding that by joining the Club, “you’ll be able to connect and network with fellow Stack Members who can be a sounding board and accountability partners.”
Balancing family and work is a key area to discuss amongst other founders, and it often feels like no easy undertaking. In a recent study, nearly half of surveyed entrepreneurs (43 per cent) said that balancing family plans posed a greater challenge than meeting their quarterly goals, whilst 36 per cent said it was more stressful than closing off the year's books. With more women founders than ever feeling at risk of burnout, it is vital to prioritise work-life balances, and planning time for family and friends is instrumental in achieving this. Whether this is something you are struggling with yourself as a founder or a hurdle you have managed to overcome, peer-to-peer discussion in an open forum setting is vital in the work toward better balance.
Sharing insights with those that have been there, or are currently there in their fundraising journey is also a key point of discussion. In the latest data, collected from 200 businesses, Startups UK has revealed that, on average in total funding, a woman-owned business receives £644,000 compared to a staggering £4.34 million going to male-owned organisations. Transparency and increased visibility of the do’s and don'ts of the process can help create a circular economy of insights that can help female founders combat unnecessary stress during this stage of their business journeys.
The same goes for other aspects of running a business, be upfront about your experiences of hiring and managing your teams. If you've spent a long time doing everything yourself, hearing from other founders' approaches to onboarding key hires and managing teams will be a breath of fresh air. This plays into developing a thriving company culture, which can be daunting at first, especially if you have less experience in this area. In a study conducted by Deloitte, it was found that almost half of the prospective employees choose to accept job offers based on the quality of a company's culture, whilst 88 per cent of respondents said that they found it significantly important.
In fact, satisfaction has key impacts on employees, with new data projecting that employees who feel happy in the work environment are 12 per cent more productive than dissatisfied peers.