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Small business success tips for women entrepreneurs

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Starting a business has become a widely popular idea these days. The concept of being your own boss, as well as having more flexibility than on regular 9-to-5 jobs, has encouraged many people to start their own venture, especially women.

A lot of female entrepreneurs have managed to succeed with their endeavor and over the past few years, their small businesses have generated well over $1.6 trillion in revenue annually in the U.S. alone.  With that in mind, here are a few small business success tips for women entrepreneurs.

Be on social media

Nowadays, any business can hardly succeed without a well-established social media presence. The fact of the matter is that social media doesn’t just help you engage with your target audience and establish a meaningful relationship with them.

It also serves as an excellent channel for marketing promotions, campaigns, contests, personalized offers and more importantly, it is a source for market research, reputation management, and building brand awareness, among other things. In other words, social media is a world of its own and the sooner you start building a presence for your business there, the better.

Use your personal network successfully

Networking is still a crucial factor for entrepreneurs, even though we live in such a highly digital world. Even though people nowadays tend to network online through social media or email, good old traditional networking is still essential. Attending networking events is important in both established, as well as using your personal network of contacts successfully.

It allows you to find business associates and opportunities. What’s more, you can even find a mentor, or, based on the nature of your business, you can also find contacts, such as suppliers, manufacturers and so on. The most important thing, however, is that you can find someone who will give you valuable advice on running a business that may help you a lot in the future.

Learn to delegate effectively

Female entrepreneurs might feel the need to prove themselves and show just how strong they can be. After all, the business world has always been perceived as the big boys club. However, aside from competing against other businesses on the market, you’re fighting for yourself and you have nothing to prove to others.

That’s why you must understand that you cannot or will not be able to do everything yourself, and there’s no shame in it. Therefore, learn to delegate the work effectively either to a trusty employee, your partner or perhaps even outsource some business tasks to companies that provide such services.

Invest in your brand

Branding is one of the most important business aspects. A brand helps differentiate your business from other companies, as well as from other brands, and it allows you to create something truly unique that customers will love. As the founder of the fashion chain, L.K. Bennett, Linda Bennett said: “Create a unique product or service – that will give you an edge over your competitors.”

However, investing in developing a brand can be financially demanding. Banks may be a good source for a loan if you lack the capital, but if your credit score isn’t as favorable as you want it to be, you may get denied or charged with high-interest rates. Instead, consider opting for a personal loan application from alternative lenders who will provide more complementary loan conditions.

Let your home life inspire you

It’s no secret that women are masters of their households. More often than not, women manage a wide variety of everyday tasks at home, ranging from taking care of the kids to ensuring that the home remains spotless. Managing a business is not all that different, to be honest.

Female entrepreneurs can find inspiration in their home life that will help them manage their business. You’ll have to handle everyday business finances, administrative tasks, executive decisions and many more, but only women can effectively multitask in such situations.

Share your small business success

Once you become a successful businesswoman, you’re certainly going to enjoy it. However, you know all too well how challenging it was to reach that success, in the first place. Why not share your knowledge and experience with other aspiring female entrepreneurs and help them get to where you are now? Starting a business is simple enough, but the real challenge begins once you have to run it.

Even if you’ve managed to reach the top without anyone’s help, it’s still a good thing to help others. Taking an initiative can open new doors for you. Lori Greiner, the QVC host, and investor for Shark Tank, once said: “Dear optimist, pessimist, and realist: While you guys were busy arguing about the glass of wine, I drank it! Sincerely, the opportunist!”

Female entrepreneurs don’t lack the determination and dedication to ensure success for their business and they certainly don’t fall behind their male counterparts. Therefore, which of these pieces of advice would you use in your business and what advice would you give to your female colleagues who are just starting out in the entrepreneurship world?

By Willy Beamen

About Business Woman Media

Our women don’t want to settle for anything but the best. They understand that success is a journey involving personal growth, savvy optimism and the tenacity to be the best.We believe in pragmatism, having fun, hard-work and sharing inspiration. LinkedIn

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  1. Pingback: Scoop Up These Tips to Succeed in Small Business | Princess Tea Party

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