According to this report, over 8.6 million US businesses are run by female entrepreneurs. It is also reported that 90% of women entrepreneurs anticipate their companies’ revenues to either increase or remain stable the following year. The report’s revenue data indicates that companies commandeered by women entrepreneurs saw 13% higher profits than those run by men. If you’re a struggling and ambitious female entrepreneur who’s looking to make it big in the corporate world, here are six things you can do now to boost your performance and attain unparalleled success:
1. Surround Yourself with Positive Energy and Like-minded Individuals
The most productive female entrepreneurs surround themselves with people who propagate success and positive vibes. And these are the kind of people you can benefit from the most as they simply do not tolerate negativity or listen to what the whiners and naysayers have to say. There’s a little saying that goes along the lines of: “Those who can’t get it done shouldn’t deter those who can.” There are many groups online and offline that cater to business owners seeking inspiration. Look for a network that matches your vision and business goals and don’t hesitate to share your problems or ask for help. Be inspired and motivated, celebrate your successes and tap into the power of such groups.
2. You Are Authentic and You Are Awesome
Authenticity, particularly in the business world, happens to be a highly bankable currency. It defines your business and truly sets you apart from the entire cookie-cutter industry. Leadership itself demands authenticity and if you try to steal someone else’s limelight, you will eventually fail. People want to look up to someone “real” who can lead them to success. Muster up the courage to offer a unique value proposition and market yourself strategically so that it speaks to your brand. If you’re constantly trying to be “everything to everyone”, you will end up as a jack of all trades and ace of none, something which can spell disaster for you as an entrepreneur. Develop a platform that says “this is what we do, who we are and why we love doing it”. Unleash your authenticity and awesomeness.
3. Ditch the Gender Baggage
One of the best pieces of advice you will get from the most successful businesswomen today is that success isn’t determined by your gender, it’s solely determined by you. Understand what your strengths and weaknesses revolve around and fearlessly pursue what you want. If you get stuck in a rut and worry too much about gender norms and expectations, you won’t get very far.
4. Work Smarter Not Necessarily Harder
Despite the fact that you have some pretty big shoes to fill, you don’t have to take everything on your shoulders. Consider outsourcing jobs that you either don’t have time for or don’t like doing such as bookkeeping, company formation, and admin or devising digital marketing strategies. All these tasks are important, but can be done by others too. Why not spare a small expense to unload a little extra mental bandwidth and free yourself up for tasks that demand more of your attention? Graeme Donnelly, CEO at Rapid Formations, says, “While most people come to us in order to get their company registered, some also discuss how it is getting more and more expensive to run a business today. All I tell them is to be smart. I also guide them on how they can save money on registration as a lot can be done for less .” You can work smarter by leveraging your time – consider working with groups – especially if you can earn more at the same time. You might also adapt and repurpose old blog content instead of coming up with new ones all the time. There are many ways to work smarter and not harder.
5. Don’t Run Away From Your Fears
The idea of leaving a secure and well-paying job to start your own venture can instill a lot of fear and uncertainty. Understand that you must tap into every last ounce of confidence you can; confidence in yourself as well as your product. You’d be surprised to know how some women entrepreneurs tend to be conservative when it comes to promoting their talents; however, if you want to perform at your level best and find success, you need to be your own best friend while selling to prospective clients and investors. When you’re trying to build a business empire, there is just no place at all for false modesty. Don’t let a lack of confidence get the best of you – that little voice that keeps telling you, you aren’t good enough or no one will ever buy what you’re selling. Put your vision into action and march forward with full confidence, by believing in yourself and what you have to offer.
6. Remember Why You Got into This
Running your own show can be a very stressful proposition and you might often find yourself thinking “Why am I doing this?”; during such times, take a few moments to reflect so as to why you got into entrepreneurship to begin with. Is it your spouse who motivates you? Is your youngest daughter the driving force behind your dreams or ambitions? Or are you simply looking to make a positive change in the female entrepreneurship world? Hone in on these factors and reflect on them from time to time to keep your drive going. Good to know:
Women entrepreneurs will be responsible for creating more than half of 72 million new small business jobs expected to spur up by 2018. Businesses run by women in the formal sector account for about 37% of global enterprises. 90% of women surveyed said that networks play a crucial in boosting their success. It was reported in this survey that women control approximately $39.6 trillion of the world’s wealth.
