From developing the initial business idea to identifying potential investors and finally opening the doors to your business, being a female entrepreneur can be a very difficult endeavor. This is especially true for women, as even in today’s seemingly progressive society, it seems like we have to work that much harder than our male counterparts to elevate our companies to success. So, if you’re wondering what the secret to success is for women in these positions, here are the best pieces of advice for any woman looking to start her own company:
Set concrete plans and goals
If you don’t have a clear picture of what you want to accomplish as an entrepreneur, that could result in endless different challenges as you grow and scale your business. However, having concrete goals to strive towards will allow you to create more defined objectives that will, in turn, make it much easier for you to execute your goals and make your entrepreneurial journey a little clearer and easier.
Tell everyone about your business
Let everyone around you know what you are doing. From your friends and your family members to even your neighbors and acquaintances, everyone should know which industry you are in and what exactly you are doing. Apart from being an easy way to spread the word and kick-start your business, this will also ensure that you are the first person that comes to their mind when it comes to the product or the service you are selling. It is a well-known fact that people around us tend to be our first customers, so don’t be afraid to promote yourself and your business.
Find a great supplier
As an entrepreneur, quality products and great service should always be your top priority if you want to build a successful and trusted business your customers will gladly come back to time and time again. In order to achieve that, you need to work strictly with trusted brands and suppliers that provide you with products of the highest quality and never settle for less. For example, if you want to start your own beauty parlor, you need to search the market and find the best salon supplies wholesale – whether that be hair styling tools or beauty products, only premium items will make your customers feel like they’ve truly gotten a special treatment. Depending on your chosen field and niche, the suppliers and business partners may vary, but the quality and standard should never be negotiated.
Identify and understand your audience
Try to be as specific as possible about who your target audience is. Identify your ideal customer and which community they are a part of, then choose a single community to serve at first and stick with it as long as possible. Tailor your product, your marketing and your entire process towards that specific community, and only expand when you need to. This will ensure a strong product-market connection and it will help you learn how to let your customers lead you in the right direction.
Find a good mentor
Even though there are endless educational entrepreneurial programs, nothing can really prepare you for the real-life challenges and stresses of owning a business. So, find a good mentor (or two) who can coach you, introduce you to influential people and potential business partners, and be someone you can bounce your ideas off of. Not only will they help you make smarter decisions and grow your business quickly and more successfully, but they will also give you great insights that you never would have thought of yourself.
Network with other female entrepreneurs
There are a lot of like-minded women building businesses and groups focused on women entrepreneurs, from locally based and industry-based to even nationally based organizations. Try to participate in those groups and create your own network of other female entrepreneurs. Whether it’s referring a new client or investor, or simply having someone to vent to about the challenges of running your own company, no one can understand you and empathize with your situation as much as another woman entrepreneur.
It’s never too late to learn a new skill or polish an old one, and it’s never too late to start your own business. All you need is motivation, ambition, a marketable skill and determination.
ABOUT THE AUTHOR
Claire Anne Hastings
Claire Hastings is a wanderer and a writer. She writes as long as she can remember, and she is very passionate about fashion, running, other cultures, and her cat.
Follow Claire on Twitter @claireahastings