As an entrepreneur, a mother of four, and someone who has worked with countless female entrepreneurs, I’ve seen the unique challenges that successful businesswomen face, firsthand.
If you're ready to take charge and make it in this world of entrepreneurship,
here are my top tips for women looking to forge their own path.
Five tips for becoming a successful businesswoman:
1. Don't be afraid to fail
I often think about a quote from Sven-Goran Eriksson: “The greatest barrier to success is the fear of failure.”
An entrepreneur’s path is uncharted and sometimes a little bumpy. It’s easy to get stressed or downright panicked, but you cannot let fear prevent you from following your dreams.
I tell myself the following: “I'm not done failing … I WILL fail again. I'm NOT done succeeding … I WILL succeed again. And most importantly, I'm NOT done trying!”
2. Learn to say no
For many of us, saying no is never easy or comfortable. But it’s absolutely essential as successful businesswomen are undoubtedly some of the most time-pressed people on the planet!
To be a successful businesswoman, you’ve got to learn to drop some of your time commitments and set healthy boundaries, whether it's to friends, family members, volunteer organizations, or colleagues. Just remember that every time you say ‘YES’ to someone, you might be saying ‘NO’ to yourself and ‘NO’ to your priorities.
Related Content: Why Saying No to Clients Could Mean Saying Yes to Your Business
3. Learn to delegate
When you’re just starting out or times are tough, it’s natural to want to tighten the purse strings. However, you should consider what you could gain by outsourcing certain tasks to contractors, employees, interns, or even family members. By relinquishing control of administrative tasks or keeping up with the company’s daily blog, you’ll be freeing up time for what’s going to keep you in business, and that's bringing in revenue.
Related Content: How to Hire a Virtual Assistant for Your Business
4. Don’t overlook the legal aspects of your business
It's undeniably the least glamorous part of your business, but don’t overlook the legal aspects of your business. Many small business owners choose to form an LLC (Limited Liability Company) to protect their personal savings and property from any liability. Adding an LLC or Inc. (for a corporation) after your company name boosts your company's credibility in the eyes of some customers and partners. It used to be expensive and time-consuming to file for an LLC, but this is no longer the case.
You also need to look at the type of business you're running and evaluate if you need small business insurance. Even if you're a home-based businesswoman with zero employees — you could be at risk for things like unintended errors and omissions, plagiarism, intellectual property violation, slander, and much more. Protecting yourself on the front end is much more desirable than having to deal with a lawsuit on the backend.
5. Give yourself credit and celebrate each success
Along your path to entrepreneurship, just remember that you’re solely responsible for your motivation, productivity, and well-being. There’s no boss to pat you on the back or give you a raise. From time-to-time, be sure to reward yourself … whether it’s for a big client WIN, meeting a tough deadline, or working overtime for weeks on end. You DESERVE it!
Being a successful businesswoman takes hard work, dedication, a positive mindset, and persistence, but by following these simple tips — you'll be well on your way to the wonderful world of entrepreneurship.
Good luck and success in all that you do!