Entrepreneurship is a lifelong journey, and it can seem a scary road for women – especially if they operate in a male-dominated field. The journey can seem lonely and just starting is the biggest hurdle. I could tell you: stay confident and never give up, but I know that that’s not helpful. What’s helpful are real insights into the support you should get and the skills you need to develop to succeed.
Below I cover some areas that I wish someone would have shared with me when I just started on my own.
4 Traits That Are Important For A Business Woman
Successful business owners – whether women or men – should have leadership skills that are centred around building great relationships.
The Traits I Have Found Serve Me Best In Business Are:
- Approachability: Being approachable is at the core of building relationships, with stakeholders and employees alike.
- Recognise Others And Their Contributions: You don’t win by blowing out someone else’s candle.
- Work From Abundance: Operate from a place of abundance and not scarcity – as opposed to popular knowledge, there is enough for everyone.
- Have Flexibility In Mind-Set: What I mean about this is to hear people out and their perspectives. Listen and try to understand the other person’s point of view. A lot of time their solutions are better than yours.
3 Challenges Women In Business Have To Overcome
I think that in general women in business struggle with confidence and voicing our opinions.
Three Challenges I’ve Had To Overcome Are:
- Understanding My Value: I think that as a business woman, you’ll be able to relate to that.
- Realising That Communication Is Key: If something is in your space (be it positive or negative, about business or a personal situation) you need to voice it to remove it from your space, to allow movement.
- Appreciating The Value Of Relationships And Mentors: What you need to know is how to get to an answer quickly, not that you have to know all the answers. What matters is having the right outcome.
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2 Obstacles Women Face When Starting Their Own Business
When it comes to the two main obstacles women face when starting their own business, the number one obstacle they have to overcome is just starting. It’s such a big leap and it can feel so scary to bring it into reality, to take the first step. The second obstacle is feeling respected, but that links to what I mentioned before, understanding your value.
Social Media In B2B Networking: Is It Necessary?
My short answer is no. And the reason for my answer is that depending on the business type (B2B or B2C) there are different ways to access your customers or your clients – and not all of them are on social media.
You do need to have an online presence, but it’s not a requirement in networking. For example, at 2account, my accounting business, being professional services, our best networking ability is for me to have relationships with senior-based roles in a company – that will refer me further.
5 Tips To Grow Your Business To The Next Level
Start your business and remember that you have support – just reach out. These are my 5 tips to help you grow your business to the next level.
- Engage a business coach, consultant or a professional that has done it before, taken your path.
- Undertake self-development, go and stretch your mind-set, and get an understanding of why you’re programmed the way you are.
- Get a counsellor, and speak to someone independently where you can openly and freely empty your mind so that you don’t bring all the negative issues to your business or personal life.
- If your budget allows, always engage an expert. You can’t do everything, they are worth their money. A plus is that you also get access to their networks.
- Although cost is a factor, focus on revenue growth. Cost can only be removed so much, but growth is exponential.
Any new endeavour is scary, but no one ever achieved anything by staying in their comfort zone. I hope this article will help you find – and keep your momentum and strength. Just remember, there’s room at the table for everyone.
Is there anything stopping you from starting your own business?
About The Author
Renee Minchin is a dedicated and experienced financial professional with over 15 years of experience as a passionate and driven CFO, accountant, bookkeeper, BAS Agent, and ASIC agent. Now, as the proud founder of 2account, Renee is constantly working to provide a white-glove experience for high-compliance companies and established enterprises, delivering a quality accounting service they can trust.
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