Starting your own business is a feminist act. At least that’s what I told myself when I founded my first business, marketing communications company Clear Ink, in 2006. The reality was more nuanced. Our son had been in and out of hospital for two years with an undiagnosed illness, and we barely slept as he woke up every 45 minutes. We were at our wits’ end.
We also had a four-year-old daughter who needed our care and attention. As much as I loved my business journalism career, exhaustion meant I wasn’t coping well with the long office hours or the responsibilities. As the lower earner in the relationship, I knew change was up to me ... but what was it?
I had so many questions: should I stay or should I go now? After many years gaining expertise and contacts, was it time to do something different? Would anyone be willing to pay for my big idea? Could I balance the joys of independence and a potentially higher salary with the risks to my pension, personal life and sanity?
Many people want change when they’re mid-career, but reasons vary. You might be bored, need more flexible hours, hate the long commute or feel that your employer is not investing in your progress. When employees feel they can’t go any further up the ladder at their employer, they usually consider switching roles, working somewhere else or even going out on their own as a consultant or entrepreneur.
But are women’s reasons any different?
Women start their own businesses for various reasons, according to Paula Fitzsimons, who runs a number of programmes for women entrepreneurs including Going for Growth. “They need more flexibility, or they’re transitioning from being a full-time carer. Others have hit a glass ceiling or reached a certain age and they’re not feeling fulfilled. They want to do something different; create something for themselves.”
It’s still harder for women to progress professionally, too. In 2024, 36 per cent of senior management roles were held by women in mid-market Irish businesses, according to Grant Thornton’s Women in Business Report. The findings reflect a 10 per cent drop from the previous year.
It took time for me to find the courage and answers I needed before starting my own business, but here are some things I’ve learned over the past 20 years, and some top tips from fellow entrepreneur clients and consultant friends:
Take time to develop skills
You don’t need to jump immediately. I continued to do some freelance journalism as I explored the business model and talked to potential clients. I also tried to focus on basic skills that I lacked: sales, strategy, accountancy and debt collection.
Ciara Clancy, chief executive and founder of digital therapeutics provider Beats Medical, did something similar when she set up her company at 22. As a student, she knew how to live frugally and fortunately had a foundational scholarship in Trinity. “I didn’t quit everything at once, I transitioned over time as I needed to save. I kept researching and tried to develop so many skills.”
But, she says, not knowing everything is a strength. “You have to pivot, change, shift, keep listening to clients, customers, the market and so on. I had to do tangible research about data and outcomes, look at the technical and business side of development. You might believe that you have to know everything, but that’s not the case.”
The most skilled person in the world with product that no one wants won’t be successful as there’s no product-market fit
— Ciara Clancy, chief executive and founder of Beats Medical
Assess the risks
Fitzsimons says that, when starting out, some women entrepreneurs are not realistic about the challenges of running a business. “The number one barrier for those starting out is access to finance. For more established businesses, it’s people-related issues.”
She says a longer-term vision is needed: “They need to build a business, not just create a job for themselves. They need to hire. If not, their terms and conditions will be worse than if they were self-employed”.
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Clancy agrees: “If your goal is more autonomy, more money, more time and more holidays, that’s probably not what’s ahead. You’re not your own boss. Your customers, clients and the technology are your boss. Naturally you just leap forward into something when you care about it, but any perspective that it’s easy is wrong; it’s not. It can be a trial by fire and it really tests your resilience.”
The business should not totally rely on you, says Fitzsimons. “If you don’t work, you don’t get paid. There’s no sick leave. When you go on holidays, you can’t turn off. Most find ways to productise their service to avoid this. You can’t scale or look after your customers if it’s just you.”
Build your network
Clancy says having an exceptional board from the early days was essential. The late telecoms entrepreneur Sean Melly joined early on and brought his business and corporate finance acumen. Current board members Cathriona Hallahan, the former managing director of Microsoft Ireland and Caroline Keeling, the former chief executive of Keeling’s food group, have been transformative in unlocking the potential of the business.
“You don’t get 35 years of experience overnight, but if you can find the people who have it you’re very privileged. Listen to them.”
Networking is the one thing I did correctly from the beginning and continue to do. I spoke to so many business contacts and chief executives before I launched. I asked them about everything from branding and sales to what rates to charge and who they thought my ideal client might be. Information truly is power and people are usually quite generous with their advice.
If I couldn’t find a network, I created it (Women on Air) or invited people to drinks (Prosecco Fridays) or to events I’d created (Broadly Speaking) or was participating in (Leviathan, Kilkenomics, Mindfield at Electric Picnic, Hay Festival).
As a former boss once told me, it’s a numbers game and if you’re genuinely interested in meeting new, interesting people then networking is easy. It wasn’t, but I persisted and have met the most amazingly supportive people who also happen to be clients.
Find your purpose
As an entrepreneur or consultant, you’ll have limited energy and time so how do you keep going through all the ups and downs? It’s the purpose that will motivate you, says Clancy. It was a few years before she was able to bring in a full-time wage but the positive results that she saw for clients suffering from Parkinson’s or dyspraxia kept her going. One in three people are impacted by neurological issues but many treatments she did as a physiotherapist were not available at home.
“Fall in love with the problem and the people who care most about it,” says Clancy. “The most skilled person in the world with product that no one wants won’t be successful as there’s no product-market fit. Fall in love with the why and ask: does it align with you and your values? It’s a long road, a long game and that’s what will sustain you.”
Starting your own business or becoming a consultant has its challenges, but if you have the energy, finances, contacts and a product or service that someone is willing to buy then you’re already halfway there.
Margaret E Ward is chief executive of Clear Eye, a leadership consultancy. margaret@cleareye.ie
