Entrepreneurship is about creativity, enthusiasm and desire to succeed. It is not something related to gender. Any man or woman who has the necessary motivation and hunger for innovation can make a good entrepreneur. Having said that, women entrepreneurs are making headlines with a lot of businesses successfully run by them all over the world. Be it Arianna Huffington, the icon behind Huffington Post or Yang Lan, co-founder, Sun Media; women entrepreneurs are on the top. All this makes one wonder, “What makes a successful woman entrepreneur?” Let us focus on solving this important puzzle – How to be a successful woman entrepreneur?
Being a successful woman entrepreneur is not a one day job. It demands consistent efforts at every stage of business development – right from initial stage till you are making profits, and even after that. Ask any business entrepreneur – men or women, they would agree.
Let us look at some ideas which can make one a successful woman entrepreneur:
Tip 1: Great women have great ideas
Ideas empower dreams, and the same dreams empower entrepreneurship. Spend a minute recalling some of the most influential inventions in human history – the invention of an electric bulb, an aero plane, a television or a mobile, they all began with an idea. Well, ideas themselves originate from a core issue – a problem. Great businesses solve a problem. If your business is not solving a problem, you have an issue with your business. Not convinced? Hang on. Tell me one thing, what is the utility of an electric bulb? It helps you evade darkness at night when the sun is not visible. What is the problem here? It was difficult and scary to spend nights in the dark, and the moonlight was not bright enough. Got the idea? So, great entrepreneurs have great ideas. These ideas solve problems.
Tip 2: Successful women are great leaders
Leadership is about one’s ability to convince and lead a group to work towards a common goal. What is the goal here? It is business success. So, in other words, successful women entrepreneurs have the potential of motivating and leading others towards their business goals. Leadership is not only about directing followers to work towards a common goal. It is also about empowering and supporting your team members in reaching a common objective. Effective leadership demands extensive levels of perseverance, empathy, motivation, communication and integrity. You can search for stories of any successful business leader. You will discover that they have been great leaders.
Tip 3: Have your communication clear
Communication is about expressing your thoughts clearly while ensuring that your message is loud and clear. Effective communication demands the composition and transfer of a clear message from the sender to the receiver. Communication may include written, verbal and non-verbal communication. A well drafted written communication needs to include clear instructions that avoid any kind of ambiguity. For example, an email from a leader to her employees should clearly specify the actions to be initiated, rather than presenting them with multiple, confusing alternatives. Similarly, an effective verbal communication emphasizes on clear and loud speech. Non-verbal communication includes the body posture and facial expressions which can send a lot of signals to employees.
Tip 4: Empower others
Successful entrepreneurship is about empowering others. You cannot make it to the zenith alone. A successful business venture is the result of a collective team work. Great women entrepreneurs know the art of empowering others and let them take charge. It has a contagious impact on team creativity and productivity, both reaching their optimum levels. Empowered team members think differently and execute exceptional strategies that are often winning.
Tip 5: Good project managers
Successful entrepreneurship needs effective project management skills. For an emerging business tycoon, every single task is a critical project. Each of these small projects together add to the milestone of business success. Unless, each individual tasks in a project are well-planned and executed, you cannot see results. Exceptional women entrepreneurs lay a lot of emphasis on project management skills. They ensure that all planned tasks are completed well on time and within the decided budget. Imagine, if a business ends up spending 200% on its advertising instead of the allocated budget of 100%! With financials gone wrong, business plan will suffer. A well-executed business strategy ensures planned results.
Tip 6: Stay motivated
The level of motivation of a woman entrepreneur can have a drastic impact on her business idea and its execution. Right from the initial stage when you pitch your business ideas to others, to its final execution, you need to know the trick to handle your critics. There will be a handful of people who will discourage you or find faults in your idea or approach. The key here is to stay open to critics- after all they are reviewing your products or services for free. You can always enhance your offerings after listening to what your critics say. Trust me, it really helps.
Tip 7: Take action
The last but not the least, any successful business venture thrives on its timely execution. You may have a business idea in mind, but if you do not make it real, someone else may do it before you. Yes, it does happen. You see a problem, and think about a solution. You keep pondering about it, without discussing it with anyone or taking any action. It may take a while, but you see a venture come up, solving the same problem! So, the key to being a successful entrepreneur is to take action to realize your dreams. Successful entrepreneurs are also quick at delegating responsibilities. It is essential as well. Unless people working with you have a clear idea about what they are supposed to do, they cannot perform!
Entrepreneurship is a full time passion. It is not a matter of few hours, days or months. Those who stay consistent and keep learning scale the curve and set an example for others. I hope that these tips were helpful for you.