By Anonymous • September 01, 2020•Careers, Issues, Mentoring and Networking
More often than not, women get caught up in the business trap. In a world dominated by men, making that big jump is not enough to build a brand. It takes more than an idea, a capital and a prayer to be a successful female entrepreneur.
There are things one should do before you jumpstart your career as a businesswoman, and these are the following
First, do a self-check.
Before you get involved in building a business of your own, it is essential to know your strengths and weaknesses, your motivation, your skills, and your passion in life and what success means to you, among other things. Also, evaluate how big of capital you’re willing to risk, much money would be left on your bank account if ever things go wrong, whether you plan on being hands-on or not and the most critical question of all – are you ready to be a businesswoman?
Draft your game plan.
Before you do anything first know that it takes a considerable amount of planning, brainstorming, and preparation to start a successful business. It doesn't matter if you want to start from scratch or plans to buy a Business for sale - without a plan, all your efforts, time and money can go down the drain. Plan how to budget your capital, how you intend to sell and make profits, how to reach out to your target population, how to advertise your brand and how to build a network of clients, suppliers, and partners.
Create a business which right for you and your customers.
For your business to succeed, you’ll have to offer a service or product that you will not only want to sell but something that people will want to buy. Strategic planning, marketing, advertising as well as excellent customer service are easier to plan, but finding the key product, services, and features that will make your business stand out from the crowd is the real deal. Learn to love whatever you sell, and make others fall in love with what you offer.
There still lies the stereotypical thinking that men dominate the entrepreneurship world. However, that trend is shifting quickly thanks to the courageous women who stepped out of their comfort zone by taking the risk and building a business of their own. While it can be very easy to be intimidated by men, and the success of those who have proven their brands, remember that everyone started somewhere at some point. Be confident, believe in yourself and your brand because all the hard work will be worth it.
Don’t be afraid to hire assistance especially with finances.
Every penny counts. It doesn't matter if you're an average individual with a 9-5 job, but more so if you are an entrepreneur. You may think that you can do it all alone, but in reality, everyone can benefit from hiring a financial consultant.
Managing money is stressful, time-consuming and not to mention a challenging task, which makes accountants a must-have for every business owner. This is especially important if you're facing problems such as tax debt, or when you need expert advice after your tax situation has changed. If you think hiring one is just another expense, you will think otherwise once you get to know the benefits of you can get by working with an accountant.
Advantages Of Working With A Financial Consultant
- Saves you time and effort
- Manage payroll effectively
- Gives you advice when you have to make a financial decision, like buying, investing, and loans
- Manages complex tax accounting tasks effectively
- Make sure to avoid late tax payments
- Ensures you're not overpaying or underpaying taxes
- Can help cut down tax costs
- Offers expert tax advice
- Learn from failures and get inspiration for the success of others.
One advantage of women entrepreneurs nowadays is the abundance of knowledge, and mentorships. Before, you have to do it all alone. Now, successful men and women are very much willing to share what they know and what they do to make it big. Learn from other's mistakes and be inspired by their stories of success. It’s okay to be envious but make sure you turn your envy into your motivation to strive harder till you reach the top. Keep reaching for success but plant your feet firmly into the ground.
Keep these five tips in mind if you want to be successful in your career. One doesn’t need to be an expert before you can build a business, but it does take knowledge, passion, skills, and the right attitude to keep it going until you succeed.