It’s not easy to make it in the startup world as a woman, but it’s far from impossible. somehow, they are not particularly looked at as entrepreneurs, technologists and effective leaders. With a great idea, the right mindset and a strong support system, any woman can be on her way to making her entrepreneurial dreams come true.
For women trying to find their place in today’s market, there are many powerful pieces of advice out there that have come from some of these seasoned females entrepreneurs.
While there is no end to the little tips and tricks that any entrepreneur can take advantage of when launching their business. Here are just a few tips for aspiring female entrepreneurs who are ready to bring their ideas to life and build a successful company.
1. Find your passion
You are going to spend many long hours working in and on your business, so pick an industry that you don’t just like, but are passionate about. When you are passionate, it shows, and your enthusiasm and belief in what you are doing translates to your customers, sparking their enthusiasm about what you are offering.
2. Keep your home and work life separate
It is important to set aside time for both personal and work lives, in order to give each the attention it deserves. Set specific office hours and unless there is an emergency, stick to them. Train yourself to work during office hours and do not accept calls or check emails after hours. Your customers and clients will also conform to your schedule as long as you stick to it. That means not calling or emailing others after hours. Create a separate work area, whether inside the home or in outside office space, and shut the door to the office after hours.
3. Build your professional network
Building a professional network is an important part of becoming a successful entrepreneur as it opens up new opportunities for your business and allows you to gain important insight from those in your industry, other female professionals, and entrepreneurs who are thriving. Becoming an effective networker is a learned skill and requires quite a bit of practice. When building your professional network, utilize all of the opportunities you have to meet other professionals. There are many ways that you can build your network, including attending networking events, joining community organizations, participating at important industry conferences and trade-shows. Female entrepreneurs should also use social networks like LinkedIn to reach out to other female entrepreneurs and industry leaders.
4. Find a mentor in your community
While building your professional network, you want to surround yourself with people who support you in your mission to pursue your passions. Finding a mentor is an important part of this process. Your mentor has been in your situation before and knows what it takes to persevere and succeed in the business world. A quality mentor can help you navigate issues both big and small by offering advice and being there for you when you need it most. You can gain knowledge from their advice and experience by learning from their mistakes and successes. No matter what issues you face in business or what personal questions you may have about entrepreneurship, a mentor can help guide you and support you in achieving your goals as a female entrepreneur.
5. Take advantage of the wealth of funding opportunities
The financial technology industry, or fintech, has opened up a variety of opportunities for entrepreneurs who want to make their business dreams a reality. The advancements in lending as a result of fintech have provided more funding options than ever for women business owners. In addition to special business loan opportunities just for women, female entrepreneurs are now able to apply for a business line of credit easily and quickly through a convenient online application process that provides a decision in a matter of moments. With lending options like this, women business owners have access to the funds they need when they need them most, allowing them to pursue business opportunities and grow their company.
6. Work on developing successful time management skills
Time management is essential for success in nearly every professional endeavor, but it can make or break an entrepreneur. Entrepreneurs, especially those just getting started, are faced with a long to-do list that they need to complete with limited time and resources. Before you launch your startup, work on practicing effective time management skills and learning new tips and tricks for managing your time. Make use of apps and other software that can help you better streamline processes and make the most of your limited time and resources. Aspiring female entrepreneurs also need to learn how to prioritize tasks and delegate responsibilities. Female entrepreneur, Kwany Lui, co-founder of Bundle Organics, offers this advice: “You have to evaluate what activities are really going to make an impact on your business and focus your time accordingly.”
7. Embrace technology
Don’t let the lure of an incoming message get you off track, whether you are concentrating on a project or spending quality time with your loved ones. Let emails wait until morning or check them at certain times of the day only, allow your voicemail to take calls, and employ auto responders. Let technology work for you.
8. Stay inspired and motivated
As a woman entrepreneur, you need to keep looking for ideas that inspire you to keep moving ahead. A lack of experience can only be a weakness if you allow it to be one. There are many ‘mompreneurs’ who have no B-school degrees or real job experience but turned out to be highly successful in their businesses. If you have enough passion for your business idea, nothing can stop you from turning it into a successful venture. Identify your weaknesses and start working on getting them out of the way. With the right amount of patience and perseverance, you’ll soon be able to bridge the gap between your experience and your expectations.
9. Go to events in your industry
Going to events in your industry is a great way to expand your professional network, and it gives you the opportunity to speak with individuals who are using or may be interested in your product or service. Connecting with others at an industry event allows you to gain important insight about how to improve your products or services as well as the chance to see the latest and greatest advancements in your industry. As a female entrepreneur, you can see how others are overcoming challenges and solving problems in your industry while also exposing new leads to your product or service and meeting others who are making big moves within your industry. Even if you have not yet launched your business, attending industry events can help you better understand what is in store for you and your company.
10. Know when to ask for help, and seek assistance when you need it.
Many female entrepreneurs are determined to prove themselves, which can be a great motivator for success. However, starting your own business is hard work, and the most successful entrepreneurs know when to ask for help. Asking for assistance when you need it is a sign of good judgement and awareness, not a sign of weakness. Female entrepreneurs need to be strategic and understand when and how to ask for help when they need it. This is where having a mentor and large professional network can come in handy. Not only can a mentor and your colleagues offer advice when you are facing difficulties, but these business professionals may also be able to provide help when you are experiencing challenges that require assistance.