Entrepreneurship is no longer considered a man’s world. As a matter of fact, many female entrepreneurs who decided to start their own business have reached success. Over the past nine years, businesses owned by women have grown five times faster in the U.S. alone and they generate $1.6 trillion in revenue each year.
Therefore, ladies if you want to take initiative and reach success, then you should know that you already have creativity and innovation to achieve anything you set your mind to. However, starting and running a business is never as simple as it sounds and women will undoubtedly face many difficulties on their road to success. That’s why we compiled a list of inspiring tips for every future female entrepreneur that will hopefully aid you on your journey.
Create something unique
Every business is based on an idea and no matter how good that idea may seem to you, it needs to be tested first. That’s where research comes into play, which will prove invaluable when making future business decisions. To properly test your ideas, you have to understand your target audience, as well who your competitors are.
Also, what kind of product or service you want to create and how well will it be welcomed on the market. Linda Bennett founder of fashion retail L.K. Bennett said: “Create a unique product or service – that will give you an edge over your competitors.” That means that you should come up with something that your audience hasn’t seen before. However, if there is a similar product or service on the market, then try to add more value to your own, that will make it better than what’s already out there.
Be active on social media
No matter how good your business may be, it simply won’t do too well unless you make it known to the public. That’s why social media is the best platform to market your business and to engage with your audience. However, building your social media presence demands a lot of hard work and dedication. For instance, the best way to run a social media marketing campaign is to leverage content marketing. Content allows you to position yourself as a problem-solver and offer real value to your audience.
The content you provide has to be highly informative, relevant and full of visual elements, otherwise it won’t have a major impact. Be mindful though when using images from the Internet for your content. Most images you find fall under copyright law and stock photos cost too much. That’s why you should try to find free online images that fall under the Creative Commons Zero (CC0) license, which allows you to use those images and edit them as you see fit.
Build a strong relationship with your audience
Customers are a key to every business success and ladies you should keep that in mind when starting your own business. Every good customer experience and customer support are based on previous relationships with the target audience. Relationships built with your customers that are based on respect and mutual understandings are vital to your business success.
Debbi Fields founder of Mrs. Fields bakeries said: “The principle was right there – you couldn’t miss it. The more you did for your customers, the more they did for us.” Therefore, never hesitate to engage with your audience on a more personal level whenever and wherever you can. After all, building long-lasting relationships with your customers will carry its own reward.
Always take initiative
Running a successful business is all about recognizing opportunities when they present themselves and determining which ones are good or bad. For a female entrepreneur who wants to reach success, it’s important to know when to take action. When a good opportunity arises, don’t hesitate to capitalize on it. If you dawdle too long or if you’re insecure about the outcome, then the opportunity may slip through your hands and who knows how long it will take before you get a second chance.
As Lori Greiner QVC host and investor for Shark Tank said: “Dear optimist, pessimist, and realist: While you guys were busy arguing about the glass of wine, I drank it! Sincerely, the opportunist!” As you can see, it’s about taking chances and making sure you get where you intend to go. It’s better to take a chance and fail than it’s to regret not trying at all. Nevertheless, if you don’t know how to take an advantage of a good opportunity, you might end up stuck in one place for a very long time. Even if you fail because you took a risk, then you’ll only learn from your mistakes and keep pushing forward.
Female entrepreneurs can be just as successful as men, if not even more successful. The key is taking matters into your own hands, stepping up and preparing yourself to do what it takes to make your business a lucrative career. The road ahead of you will be difficult, but it’s nothing a strong mind and determination can’t handle.
By Alex Williams