Women owned businesses have a certain set of challenges. It can take extra effort to prove yourself and gain respect just because you’re a woman. According to CNBC around 40% of businesses in America are now run by women. With these challenges, it is still possible to thrive as a woman small business owner. Here are some tips from successful women to help you make it on top.
- Network. Networking will tremendously help your business in the long run. Look for a networking group in your area. Whether it’s having more people to bounce ideas off of, finding partnerships/employees, or even finding new customers, networking is always worth the time and effort. In networking you will meet women with a variety of different skill sets. If you are struggling in a certain area they can help you improve.
- Find a mentor. Running a business can be tricky, especially if you’ve never done it before. That’s why finding an experienced mentor will be beneficial to help guide you to success. There are a lot of problems and issues business owners face and having a mentor will help guide you through them. You could also showcase your leadership skills by becoming a mentor.
- Embrace failure/rejection. Failure and rejection are inevitable parts of business and life. What matters is how you overcome your setbacks and come up with solution oriented strategies. Remember, it’s not about how many times you fall, but how many times you get back up.
- Be passionate. If you do something you are passionate about it will make the late nights that much easier. This passion carries over into your business and customers will be more attracted to your brand.
- Get ready to be uncomfortable. Growth and comfort do not coexist. Getting out of your comfort zone will lead to the most growth in your business.
- Look for women specific grants and loans. Check out the following resources: 5 Grants for Women-Owned Businesses and Where to Apply, Women-owned businesses, and 14 Small business grants all women entrepreneurs can apply for.
- Be confident. Your employees and customers will be more likely to believe in the mission of your company if you are confident.
- Grow your leadership abilities. There are many traits that make up a good leader such as strong communication skills, solution oriented, and empathy. Take a look at our article on the traits of a great leader to learn more!
Women have come a long way in the workforce. Women entered the workforce in 1910 with more married women entering in the 1930’s-1950’s. While it has been a while since women are in the workforce, there are still preconceived notions about women at work. As we continue to break societal standards of women we must stick together and rise. The glass ceiling breaks faster when we do it together.