Just under 10% of CEO’s in America’s top companies are female, which can create hopelessness for young women who want to become a C-suite executive. But the fact that female CEOs outperformed their male counterparts in 2024, bringing in five percent more revenue, brightens the hope that women can thrive in the face of gender inequality in the future. Still, gender inequality--alive and well in 2025--has led to a trend of bootstrapped female founders, relying on their own resources to scale their businesses without outside funding.

It’s no secret that female-led companies secure between just two and three percent of Venture Capitalist funding, making it harder for their businesses to thrive. A Harvard, MIT and Wharton study reveals that Venture Capitalist pitches voiced by men are more than twice as likely to secure funding as identical pitches by women.

Women have been stereotyped biologically as more risk-averse than men for generations. But research shows that’s not the case. The myth stems from the outdated notion that risk-taking is inherently masculine, with traditional studies often framing risk through a narrow male-centric lens.

According to Thekla Morgenroth, psychology professor at Purdue University, “For too long, the myth has been perpetuated that women are risk-averse. However, new research and real-world examples show that women are, in fact, risk-smart and approach challenges with deep strategic foresight.” Her stance is supported by science-backed research, showing no significant gender differences in risk-taking at work between men and women.

Telma Casaca, expert at VIP Grinders argrees that women are strategic risk-takers, not risk-averse. “When women take risks, they aren’t reckless,” she explains. "They carefully weigh all the variables. It’s about playing the long game and creating a sustainable future, not just for themselves, but for the organizations and communities they impact. Whether in business, sports or social justice, the lessons from these trailblazing women are a testament to the power of strategic risk-taking.”

Natalia Shahmetova, founder of Woofz by Nove8, decided to ditch the funding route and scale her company to 21M users and $20M in revenue, with four times annual growth. She shared with me what it takes to scale without outside funding–from facing bias to building with discipline.

“Entrepreneurship is never easy, but the challenge is greater for female founders, she acknowledges. ”Gender bias—usually subtle but often overt—is rife throughout business, shaping the kinds of questions asked, the level of scrutiny received and the likelihood of receiving a “yes.’”

Shahmetova laments that no matter how vast your experience or detailed your pitch deck, your competence will be questioned and your abilities doubted. In the meantime, she says, your male peers secure funding with little more than a good idea.

She recalls suffering through one meeting with a potential investor where they avoided talking to her directly, ignoring her title and expertise and directing all questions towards the males in the room. “But this isn’t just my experience,” she told me. “It’s that of countless female entrepreneurs."

Instead of tailoring yourself to biased expectations, she advises that you sharpen your pitch for people who get it. “Seek out investors with a track record of backing diverse founders. And when the room still doesn’t listen, build your own table.”

When investors pass on your business unfairly, it’s easy to take it personally, but Shahmetova insists that you shouldn’t. “Bias in the funding landscape isn’t a reflection of your idea, skills or potential. It’s a reflection of the system and the outdated views that it harbors. Being judged on your gender says far more about them than you.”

Is it frustrating and will it make you want to quit? she asks. “Absolutely. But that would only prove them right, so she says don’t let it shake your confidence or curb your ambition. “Many incredible women have walked the same road, faced the same doubt and still built world-changing businesses.”

She recommends that you turn every “no” into data. “Ask for feedback. Refine your pitch, tighten your story and stay focused,” she advises. “Their rejection isn’t a verdict– it’s a redirection.”

“I would be lying if I said I’ve never considered leaving my startup,” Shahmetova said to me. “I came close when the CEO position opened up and, despite my vast knowledge of the business and track record of growing it, my fellow board members decided they wanted to bring in a male leader for their strength and ruthlessness.”

She admits that it’s demoralizing. Yet, she sees facing bias as a crash course in resilience. "Every dismissive remark, uninterested response and unfair rejection builds mental strength that’s only learned from experience," she points out. “That grit is a superpower, as growing a startup is a constant barrage of unforeseen setbacks and unexpected curve balls.”

She has observes that many women entrepreneurs accept defeat when not a single investor shows faith in their ideas. But she also notes that those who have learned to brush off bias are stronger and more determined to succeed. “They know their idea is strong and they trust in their abilities, so they find another way, invest their own savings and show everyone who doubted them that they were wrong.”

She suggests using that resilience as a strategy. “You’ve built your shock-absorbers,” she states, “now go further. Say no faster. Protect your time. Keep moving even when the spotlight isn’t on you.”

“When funding doesn’t come easily, every decision counts, Shahmetova asserts. ”Bootstrapping your venture means there’s no limitless venture capital fund to fall back on, so there’s no room for reckless spending or rushed hires. You have to make every cent count, which makes you more disciplined."

While others might grow fast, her approach is to grow smart by focusing on sustainable growth, spending only what your business can afford and prioritizing profitability over rapid growth. “With my experiences having taught me how to play it slow and bide my time, when I became CEO, I made it clear to the team that we weren’t going to sprint to the finish line, spending more money than we had in our reserves.”

Shahmetova describes efficiency as your moat and that you use that discipline as a competitive edge to build sharper products, leaner teams and a business model that doesn’t collapse the second funding dries up.

According to Shahmetova, gender bias doesn’t just harm women. It harms businesses, too. “If you’re dismissing women because they don’t fit your outdated idea of what leadership looks like, you’re overlooking talents who have already proven that they can achieve incredible things with limited resources and support.”

When bootstrapped female founders turn up at the table, she argues that you should see them as an asset with all the skills that a great leader needs. “She’s not just a woman. She’s resilient, disciplined and efficient,” Shahmetova concludes.