There are more woman than ever before running their own business in so many fields it is easy to say that there is no such thing as a “typical woman owned business”. Woman are starting businesses in every industry, large and small and entering businesses that are as varied as the woman themselves.
Some are using their work experience, some entering the work force after raising children, some developing a business from a hobby, some after facing redundancy and some perusing a long held dream.
The key is that any business needs to be based on a solid idea that can be profitable and marketed effectively. But as many women will know the main concerns tend to be biased towards finding a work life balance, how to start up and finance the business and how to project that idea into the market place.
The following tips are therefore based for woman entrepreneurs and the key to running a successful business.
- Start a business that fits in with you and your lifestyle. There is no such thing as a “proper business”, some might go internationally or have a smaller business that pays a healthy salary and allows personal freedom with that work life balance – all can be deemed as being a success. The key is planning and decide for yourself what for you the ideal vision for your business is.
- How do you get started? A lot of woman reach the “nearly” stage and are confused about how to get through the legal and financial bureaucracies.
You can start a sole trader business (Or a sole proprietorship to be legal!) or a partnership which is a business between 2 and 20 people (There are other businesses that can have more) by registering your business at one government office. Your local authority will also have departments where you can go to for advice and support, some even run classes and have individual consultants who will support you and your business idea. Suddenly your idea can and will be a legitimate business.
- What about finances? It is important to start a business with adequate funding as during the set up and starting you need enough money to keep you afloat. This is when you need to plan carefully and have the funding to support your fledgling business. BUT that doesn’t mean that you need loads of money to get started. Generally speaking a business that can find creative and thrifty ways to provide products or services will find more success than a business that has a spend lots of money approach!
- What if you are concerned about getting out there and selling? You certainly don’t need to be pushy or aggressive to be an effective sales person what you do need though is to be able to communicate. Those that provide clear information, listen to their customers and judge the selling situation are those that are more likely to succeed. There is certainly an art to selling and endless books that can be read which provide helpful advice but the most important aspect is to develop your selling style mixed in with your own personality to develop your own selling style.
- How do you develop networks and useful contacts? It is important to “be out there” and network in person and also through social media. Networking means creating and cultivating relationships with people, other businesses, trade associations, in fact anybody that presents opportunities for your business. It’s not about making a sale rather its opportunities to inform others about you and your business in the hope that they will recommend and mention your business to their circle of contacts. So get to know other local businesses within your area!
And finally? Believe in yourself and your business idea. Plan well, speak to others that can assist and watch your idea turn in your successful unique business!
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There are a few vital self examination questions, which opens the door to embarking on a business wi... [more]
11. 11. | Alexandra John