Women have made great strides in entrepreneurship, despite innumerable barriers. According to a report by the National Association of Women Business Owners, there are approximately 12.3 million women-owned businesses in the U.S., making up 42% of the companies in the nation.
These businesses generate over $1.8 trillion in revenue annually. For the women who are challenging the status quo, dismantling biases, and staking a claim in the world of business, here are seven essential tips for success.
1. Believe in Yourself
The first and perhaps most important thing to do is believe in yourself. Trust your instincts, and don’t be afraid of failure.
Your great idea might not work out like you imagined it would, but it’s important to remember that there are no mistakes — only lessons learned.
A good way to start believing in yourself is by asking for what you want without fear of judgment or rejection. If done with confidence and positivity, people will respond favorably to your requests because they see that you’re willing to go out on a limb for yourself.
2. Focus on the Big Picture
Why are you starting the business? What’s your exit strategy? What do you wish to achieve before you retire?
Having well-defined goals can guide you in understanding what you want and strengthen your commitment to achieving it. You may need to have a well-defined business structure, financial road map, and retirement plan to fuel your determination when your spirit is low.
3. Be a Go-Getter
Being a go-getter is an essential part of being successful in business. The Women’s Business Center recommends that leaders be proactive, persistent, and prepared.
Proactive
Always be on the lookout for opportunities to improve your business. Be open to learning from others who are more experienced than you. If you try something new that doesn’t work out, don’t beat yourself up about it — just learn from it and move on.
Persistent
Don’t let rejection or obstacles get in your way; instead, use them as motivation to keep going.
Prepared
Have all of your materials ready before meetings so that you can hit the ground running when they start (and not waste anyone’s time). You should also treat each customer like gold by providing excellent service to earn their trust. That way, they’ll come back and provide referrals.
4. Build a Network of People
According to Forbes, more than 48% of women entrepreneurs lack competent advisors to guide them through their daily challenges and activities. Building a network of people who are invested in your success is critical to the survival of your business.
Finding a mentor can help you navigate the uncharted waters and give you invaluable insight into running your business. Social networks like LinkedIn provide excellent platforms that you can use to reach out to other women business leaders.
5. Don’t Be Afraid to Follow Your Intuition
Trust your gut feeling when something feels amiss. Following your intuition can build your confidence, giving you the courage to speak up when things aren’t going as planned.
You know yourself best, so trust in that fact and use your intuition to make decisions when running a business or starting one up.
6. Enjoy the Journey and Celebrate Achievements, Large and Small
Women in business need to maintain a positive attitude and mindset. Avoid wallowing in self-pity or negative talk.
Believe the best is yet to come. The easiest way to maintain a positive attitude is to celebrate the milestones that you achieve on your entrepreneurship journey, whether large or small.
7. Be Patient with Yourself
Most entrepreneurs give up on their business ideas way too early, leading to the pervasive collapse of start-ups and budding businesses. Hold on when the business environment becomes tougher.
Admit to yourself that it may take you longer to reach your set goals, but you will achieve them nonetheless.
Final Thoughts: Essential Business Tips for Women in Business
Entrepreneurship is an exciting yet equally stressful journey for most women. With all of these tips in mind, it’s time to write your own success story.
You now have several tools you need for success — you just have to put them into practice and see what happens.
Remember that you don’t have to do it alone. Enlist family, friends, and mentors to help you along the way. Don’t forget to celebrate the little successes as they happen. Remain patient: trusting your discipline, hard work, and positive mentality will carry you through.