LXME founder feels the challenge for a start-up is more pronounced for women

Priti Rathi Gupta shares her tips for young entrepreneurs.

Priti Rathi Gupta also shared how the last year helped her find a new balance.

Startups are a challenge. More so for women says Priti Rathi Gupta. The Founder of LXME says that while things are looking up for women, there’s still a long way to go before the playing field is leveled. “We have made some progress over the last couple of months, but when it comes to business, salary packages and any earning opportunities, there’s still a long way to go,” she tells ET Panache.

But, some of the leveling is in the hands of women themselves, with her saying that the first thing women need to steer clear of is fear of failure. “Women, detest taking the entrepreneurial leap, due to the fear of failure. All of this stems from the fact that there just aren’t enough mentors and arranging and managing finance is still a much harder navigation than it is for men,” she adds. Read on as Gupta shares the challenges she has faced and her advice for young entrepreneurs.

What are some of the challenges women entrepreneurs like yourself face?

I feel the challenge for a start-up is more pronounced for women. Getting a buy in from family and then from prospective investors need very clearly and assertive communication around being a capable women founder. I am privy to a lot of conversations around fundraising and it’s very common for women to be asked ‘Are you the only founder, you should get a male co-founder” or “What are your marriage plans, are you planning a family, how will you manage work and kids and build this business”? Coming with rich experience from financial services, I have been in a fairly strong place with regard to managing and raising funds, as well as deep product knowledge. Building some great technology in house is a skill that I have developed over the last couple of years. For me the challenges were more around adapting a start-up mindset from a conventional business.

What is your advice for young women who want to become entrepreneurs?
I would have three very definitive pieces of advice for aspiring entrepreneurs: Make a business plan along with scenario planning. Taking the worst case scenario, make sure that you have comfortable personal and business funds to take you through at least 18 months to 2 years. Build a support system around you, at home and a great team at work, and critiques as advisors and friends who will champion you. And finally, don’t strive for a work life balance for the first few years as you will be eating, thinking and sleeping your business idea.

During the lockdown, do you think it’s been harder for women to lean in given the blurred lines?
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It’s well proven now that the lockdown has been harder for women, but on the positive, the conversations around gender equality have become more pronounced. Also, I believe that it has been a catalyst for newer opportunities opening up for women, as the gig economy and she economy pick up pace. More women have jumped the fence from being employed to becoming entrepreneurs. Like most women and even men, I have worked more hours and weekends. However, working from home meant being physically present in the house, saving on travelling time and rearranging the schedule instead of a strict 9-6 routine. I think I have found a new balance.

Respect Yourself, Don't Be Apologetic, Be Your Own Boss: Shepreneurs' Advice To Young Women
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Women leaders across industries share their insights about being women entrepreneurs, talk about what needs to change and what young women need to do to for a better and more level playing field for all.

Women leaders across industries share their insights about being women entrepreneurs, talk about what needs to change and what young women need to do to for a better and more level playing field for ..
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"I think the playing field has most certainly opened up. But I don’t think anything has fully levelled for women yet (from business opportunities to equal pay), but it has potential to get there. This is the golden age for entrepreneurship, and you can literally make anything your career, as long as you have a passion for it. I think the best advice I can give you is to be confident and comfortable in your skills. You might be brand new to business but that doesn’t mean you can’t hustle and learn the ropes. Traditionally we are conditioned to believe that women aren’t “business minded” but that is entirely untrue. Being your own boss and crafting a business is absolutely up our alley. So just dive in, the water’s warm!"

"I think the playing field has most certainly opened up. But I don’t think anything has fully levelled for women yet (from business opportunities to equal pay), but it has potential to get there. Thi..
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"Corporate organisations both in India and globally should take the necessary steps to ensure that they groom and motivate women to take up leadership positions to help create the right balance in the workforce today. This will encourage young girls to pursue their dreams and look up to these women leaders as role models. Encouraging women at entry levels will give them the confidence to face all the challenges they might encounter, in their quest towards building successful careers in varied sectors - corporates, sports politics, media, and more. We are increasingly seeing brands rushing to push out Women’s Day content once every year, however messages such as women emancipation and empowerment should be an ongoing activity."

"Corporate organisations both in India and globally should take the necessary steps to ensure that they groom and motivate women to take up leadership positions to help create the right balance in th..
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"Over the last year in particular, there’s no denying that the pandemic has been difficult for many, and the pressures have been compounded for women. It is apparent that socio-economic vulnerability combined with the control of their sexuality, societal pressure, harassment or violence etc. gravely impact both their mental and physical health. As a nation, until we come together to create awareness and address the issues women face, only then will we able to create an environment where women can thrive. The change needs to begin with each one of us. We need to respect ourselves and not be apologetic about who we are and what we want. While we have come a long way in these last few years, we still have an even longer way to go. This journey has only begun."

"Over the last year in particular, there’s no denying that the pandemic has been difficult for many, and the pressures have been compounded for women. It is apparent that socio-economic vulnerability..
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"I believe that women are more capable of running sustainable and stable businesses. We believe in starting small, perfecting the processes and then growing. Growth built on a strong foundation is always the long lasting one. Hence I always tell young girls to start your businesses in whatever little way you can, to begin is important, the rest will fall in place. Women have been beautifully juggling between their multi responsibilities for centuries, it's now part of our DNA. From what I have observed during this pandemic, I think women were better prepared and coped with the uncertainty of the pandemic, we adapt faster and hence have not survived but thrived."

"I believe that women are more capable of running sustainable and stable businesses. We believe in starting small, perfecting the processes and then growing. Growth built on a strong foundation is al..
Read More

"Within organisations, women have already cemented their position as thinkers, doers, and as forces to reckon with. Now, the time has come to take this to the next level; for organisations to create an even playing field, and give women professionals an environment which they can thrive in. Organizations need to take a proactive stance to create an inclusive and respectful workplace. The effort has to be two pronged – allow ease of entry and provide equal opportunities for development. In the long run, such measures will create a positive environment for mutual growth. Additionally, it will also strengthen the organization’s reputation as an employer of choice, to attract and retain the right talent, and build a diverse workforce that’s future-ready."

"Within organisations, women have already cemented their position as thinkers, doers, and as forces to reckon with. Now, the time has come to take this to the next level; for organisations to create ..
Read More

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