Women Entrepreneurs – Tips for Your Success

Women entrepreneurs are to be admired. They will forge ahead even under circumstances that would discourage the faint of heart.  There are lots of success tips and pieces of advice available for the female entrepreneur, provided by women who have been there and who know. Here are just seven tips for entrepreneurial success:

 1. Be Passionate. Your entrepreneurial endeavor is going to take up a lot of your time and energy. If it is not something you are passionate about, a cause or a talent that sets you on fire with excitement, you will soon find yourself exhausted and unwilling to continue.

 2. Don’t Just Plan Ahead, Plan It All. This means get your systems in order. Your life is about to be busy and you better be prepared. Get your organizational system, your time management system, your financial system, and for gosh sakes, your childcare system if you need it, in place before you start. Plan for the next half hour, the next hour, the next month, and the next year.

 3. Get Sited. This means get on the internet. Even if you don’t have a selling function over the internet, you at least better have an up-to-date informational website. This is the number one way that today’s customer finds businesses. Be there when they look.

 4. Keep Track Of Expenditures . Financial management is key. What goes in, what goes out, who gets what, how much for what, and what are you going to tell the bank when you want a loan. Have it categorized, tracked, and ready for someone to review when that funding opportunity arises.

 5. Get Support. As in mentors, advisors, friends, all those who help with expert advice or emotional props. Any woman entrepreneur will tell you, with a sigh, of the hard work and hard knocks that they’ve encountered throughout their entrepreneurial career. In the next breath, they will tell you what they’ve learned to do right. Women love to share success tips. You will need guidance as you begin this new endeavor. Find the people that you can rely on. And by the way, mentors, advisors, and friends don’t necessarily need to be only women.

 6. Finance Thyself. You can look for the angel investor or the venture financing, but to be brutally honest, it isn’t out there for the woman entrepreneur. Only 10% of angel investing goes to women-owned start-ups. Most women starting their own business look to themselves, their spouses, or their families for initial start-up financing. This type of financing is called “bootstrapping” your business and is often a source of pride for many entrepreneurs. Self-investing keeps the financial controls in your hands. You put in all the money, you get all the proceeds.

 7. Trust Yourself & The Process. You are fighting the good fight. You have a cause or product you believe in, are passionate about. You have a supportive group of individuals that want to see you succeed. You’ve built a reliable business network, organizational structure, and business plan. But you will have setbacks. Don’t despair. Have faith in yourself and your business.

And, while not on the list, consider positioning yourself in your community as a leader, facilitator for the growth of other entrepreneurs and for your own success.  Become part of an established brand of marketing.