|May 29, 2014 | By admin|
According to a report Growing Under the Radar: An Exploration of the Achievements of Million-Dollar Women-Owned Firms, over the past decade, the number of $10-million-plus businesses owned by women increased by 57%, a growth rate 47% more than the rate of all $10-million-plus firms overall. The report was published by Julie Weeks, Womenable President and CEO, in 2013.
Yes for women entrepreneurs!
Venturing to something new like being your own boss is exciting yet scary as well. If you’re thinking about starting a business of your own, here are some simple tips to help you along the way.
Think about a business that works for you and with your personal life. Not every business is the same for every business owner. One owner may think of business as having to manage and operate thousands of employees in several branch sites nationwide. For others, a small local shop or an artisan business is considered a successful business.
It’s not about the size of your business that’s important. Some untapped or undertapped niche market can be profitable as well.
I have a friend who was working long hours at a private company and she felt drained and unhappy at the end of everyday. Wanting to get out and try a new thing in her life, she decided to start her own business. She was an expert cook so she decided to leave her employer and start her catering business. She didn’t get people to help her with her business and instead, she did the budgeting, cooking, cleaning of kitchenwares, going to the market, etc. she did everything! In the end, she felt drained and unhappy with her business and went back to being an employee.
You can’t do everything for your business. Search for people who are excellent at a certain skill like in accounting, marketing, sales, or product development. Not because you’re the boss you should be handling all of the activities to make your business run. Hire the best people for the job, set up your expectations, and lead this team.
A popular quote goes “Birds of the same feather, flock together.” In business, it helps to get in touch with other business owners. Grab a cup of coffee, send an email, or spend a few minutes over the phone with someone you look up to in business to “pick” her brain. Many seasoned business people welcome start-up business owners who are looking for guidance and inspiration. They have many things to share since they’ve been there too when they were starting their own business.
The primary factor for the success or failure of your business is YOU. Yes, it’s you!
Successful entrepreneurs can look at themselves and give an unbiased judgement. They can point out where they did great and where they failed. Look at yourself in the mirror and be realistic with what you’re capable of doing and improve on your shortcomings.
Nobody will trust your business if you don’t trust it yourself. If there’s some part of your business that you’re unsure of, study and research about it. It’s never too late to learn something new. Subscribe to newsletters of similar businesses in your market to know what’s new and what’s available for your business. If you’re not capable of doing something, ask for help when you need it.
Dressing the part of a successful business owner will boost your confidence. There are many outfits that go beyond the typical white blouse + black skirt tandem. Use clothes you’re comfortable doing business with. Your physical appearance is an extension of your business, so dress according to your brand.
Photo source: www.vickidonlan.com