We outline nine rules and strategies every boss lady should adhere to if she wants to ensure her business or corporate success.
Gender inequality is a problem that has reared its head for several decades, and comes up in every boss lady discussion. Female entrepreneurs usually feel they need to work harder than their male counterparts to achieve the same level of success. From staying on top of your sales tax filing to trying to solve one problem at a time, female entrepreneurs can use proven strategies to reach the top. In the U.S., the number of female-owned businesses totals 42 percent of all companies, Score reports.
The 9 top Boss Lady Rules
1. Failure is normal: accept that
One of the most difficult aspects of becoming a boss lady entrepreneur is to accept some steps you take will fail. The failure rate of new businesses is high, but you do not need to be consumed by fear of failure. Few entrepreneurs have not seen some form of failure in their career, with their response to career hurdles leading to success or failure. Fear of failure is normal but accepting failure and learning its lessons leads to success, Inc reports.
2. Tell the world about your business
There is no point in becoming a boss lady entrepreneur and failing to tell anybody about the business you are developing. Family and friends are usually the first people to take advantage of your business, with initial sales coming from the people who know you best. If your company is struggling to find a foothold in an industry, a family member or friend could hold the key to bringing success to your company. The more people who know about your company and its offerings, the more potential customers you have.
3. Learn from other boss lady entrepreneurs
One of the reasons for the failure of new companies around the world is the failure of entrepreneurs to learn from others. In every region of the world, there are groups dedicated to bringing together female entrepreneurs for networking opportunities. Networking with other boss lady entrepreneurs is one of the keys to finding success for your business, which will give you the chance to learn from your peers. Your peers will be willing to discuss the successes and failures they have encountered in their careers, which will allow you to avoid costly mistakes in the future.
4. Stay on top of your paperwork
Paperwork is one of the required parts of creating a successful business. Every boss lady entrepreneur needs to spend their time working to keep their paperwork up to date for ease of use later. For many entrepreneurs, keeping track of their records is a problem that becomes a major issue at tax-filing time. When you have stayed on top of your records regarding your sales tax filing, you will be able to deal with the IRS with confidence.
5. Take decisive boss lady action
Taking decisive action means making decisions that are best for your company. Entrepreneurs usually have sole responsibility for making decisions, meaning you will face tough choices when you are trying to decide on the future of your business. Every business needs to have a clear path chartered to take it from its current state to grow. Decisive boss lady decision-making includes thinking through every question you face as an entrepreneur to achieve success in the future.
6. Don’t stop learning
Learning is a lifelong pursuit every boss lady entrepreneur can enjoy helping them achieve success. Learning can take many different forms, including attending business courses at an academic institution. If you are busy building a business, you will have little time to spare for studies. There are thousands of business books to read that will provide you with the strategies and knowledge to build your career as a female entrepreneur. Asking your friends and family members if they would recommend any books is a good option. Alongside books, there are several podcasts available focusing on the rise of female entrepreneurs and their careers.
7. Market yourself
As a female entrepreneur, your personal brand will need to grow at the same rate as that of your company. Becoming successful as an entrepreneur is linked to building your profile on social media platforms and your community. The Scottish entrepreneur, Dame Michelle Mone built a successful company with little financial support. The inspirational nature of her personal story led to Mone building a large social media following.
8. Choose the right people
Choosing the right employees and advisors can be difficult when you are starting your entrepreneurial career. Having the right people in your corner means you are not facing negativity regularly. Negative people who do not have the right background and knowledge to help you on your journey will not assist your career and hold back your entrepreneurial ambitions.
9. Fight boss lady imposter syndrome
One of the problems you will face during your career is that of feeling you are not worthy of your success. Imposter syndrome is a feeling many entrepreneurs face throughout their careers. Your career success depends on your fighting ‘imposter syndrome’ and achieving your long-term goals.
