Tips For Female Entrepreneurs to Create A Successful Business
Women are often stereotyped and pigeonholed into certain professions. However, women now have the power to create their own thriving businesses. Female professionals all over the world are taking control over their careers like never before. Numerous women have championed incredible entrepreneurial ventures on their own, producing remarkable results. Women who have already created a successful business entrepreneurship are inspiring, and they encourage others with their perseverance and creativity. Here are a few insider tips from successful female entrepreneurs that can help new business owners shine.
Carin Rockind, a life purpose, and happiness expert says, “Everyone has to start a business that’s meaningful to them; I think it’s an old model to tell [women] to go into a specific field. Also, I think that’s got us to where we are today. What you’re passionate about is way more important. Women need to tap into what they’re good at and what makes them feel great.” Surprisingly, the number of women-owned businesses is growing five times faster than the all the other businesses in the nation. These figures show that the number of motivated women jumping into entrepreneurial ventures is at an all-time high.
When asked what kinds of business ventures are best suited for new entrepreneurs, current businesswomen say that the sky’s the limit when it comes to new ideas. Cologne Trude, the co-founder and creative director of Show Me Your Mumu, a top-rated boho-chic clothing line says, “I don’t think there are any guidelines to the type of companies women should begin.” Speaking on the amazing potentials of women, she adds, “Women’s strengths are so diverse that opportunities are endless.” Similar to what Trude’s sentiments, Melinda Emerson, a successful author, and business coach, says, “I think women should get excited about what excites them. There aren’t [enough] women-centric businesses out there.”
The Starting Point
For women who wonder where to make a start, Emerson suggests basing the business on a subject or topic that they have experience with. Starting a business requires not only knowledge but passion and perseverance too. As a cautionary tale, Emerson states, “I have seen people quit really good jobs to start businesses they hate. There are fantasies of grandeur about running a business. It’s really hard out there.”
Emerson also says, “If you have no savings, no money, and bad credit, you should not start a business.” She suggests first-time entrepreneurs save from twenty to forty percent of their paycheck before quitting their jobs to start a business. Most importantly, Emerson stresses the importance of doing lots of research.
Before starting a business, it is also important to identify a target market. Emerson emphasizes, “You always have to check and make sure your business model makes sense in an industry that’s growing and not sinking. It needs to be relevant three to five years from now. You don’t want [technological advances] taking your business.”
Building A Support System
When gearing up to get a business off the ground, entrepreneurs must surround themselves with people who can help them succeed. Miller says, “Being a leader doesn’t mean you have all of the answers and the more open you are to learning from everyone around you, the more you can grow in your role.”
Rockind confides, “One of the things that have been harder for me to learn is to bring other people with you. It’s very lonely to have your own business. There are so many important skills, and you can’t be good at everything. It is OK to ask for help and collaborate with other people.”
When building a company from the ground up, it is important for new entrepreneurs to stay passionate about their business. On a final note, Rockind adds, “You have to put yourself out there. You must believe in yourself and your purpose.”