These networks include accountants, attorneys, fellow business owners and mentors who can help women put together business plans and make referrals, according to the National Foundation for Women Business Owners research. A full two-thirds of proposals that are seriously considered by institutions come from these referral networks. The management experience of the company leaders and their understanding of the market are critical factors that investors consider in evaluating proposals.
Perseverance is important.
Women entrepreneurs who have equity financing contacted an average of more than 15 funding entities, while women who are still seeking equity financing have contacted fewer than 11 funding entities.