How to Become a Successful Businesswoman
There once was a time when it was almost inconceivable that a woman would not only be successful in business, but would thrive, too. Thankfully, in today’s world, this is no longer the case. Women around the world now lead business in companies and industries of all types and sizes. Female entrepreneurship grows every day, but that doesn’t mean it’s easy. Far from it. Being a successful businesswoman means working hard, pushing yourself, and taking risks. It also means strength, integrity, and independence.
Emilie Given, self-made businesswoman and CEO of She’s A Given, has been featured in Forbes, Business Insider, Scary Mommy, the New York Post, and many other outlets for her business skills and the success of She’s A Given. She has achieved business success and wants to help other motivated, intelligent, and driven women do the same. Here are some of her most important steps and tips to becoming a successful businesswoman.
Follow Your Passion
First and foremost, you need to find what you’re passionate about, what you’re curious about, and what you care about. Make this the center of your business life. Female entrepreneurship and being in business are often very difficult. You’ll be faced with tough decisions, you’ll suffer setbacks, and you’ll work long, hard hours. It’s tough to do these things if you’re not doing something you’re passionate about.
Obviously, you’re in business for financial reasons, but you’re also in business because you found a problem that needed to be solved, or because you have a product or service that you believe can help. Having a passion and a reason for being in business will help sustain you, motivate you, and drive you to continue.
Build Your Business Skills
Having a passion for your business is crucial, but it's equally important to develop the skills necessary to turn that passion into a thriving enterprise. Here are some key areas to focus on:
Craft a Solid Business Plan: A well-defined business plan serves as your roadmap to success. It should outline your target market, your unique selling proposition (USP) that sets you apart from competitors, your marketing strategy for reaching your audience, and financial projections to guide your growth. Numerous resources are available online and through the Small Business Administration (SBA) to help you craft a comprehensive plan.
Master Marketing: In today's digital age, a strong online presence is essential. Consider incorporating content marketing, which involves creating valuable and informative content to attract and engage your target audience. Social media marketing allows you to connect with potential customers directly and build a community around your brand. Search engine optimization (SEO) helps ensure your website ranks high in search results when people search for products or services related to your business.
Financial Literacy: Understanding financial statements empowers you to make informed decisions about your business. Familiarize yourself with concepts like profit and loss statements, cash flow management, and various funding options available to entrepreneurs. The SBA website offers a wealth of information and resources on financial management for small businesses.
Develop Leadership Skills: Effective leadership is essential for building a strong team and achieving your goals. Honing your communication skills allows you to clearly articulate your vision and inspire your team. Delegation empowers your team members to take ownership and contribute their strengths. Mastering the art of motivation keeps your team engaged and working towards shared objectives.
Learn to Fail
It seems odd to suggest that one of the steps toward success is learning how to fail, but it’s true. Failure isn’t the opposite of success, it’s a part of success.
Your business journey won’t be up and up forever. At one stage or another, you will fail. You will struggle. Things won’t work out the way you want them to. That’s natural and normal. Successful women in business know that it isn’t about never failing, it’s about knowing how to fail and how to learn from these failures.
There is certainly a lot to learn from failure. When things go wrong, think about what you can take away from the situation. What could you do differently next time? What should you change to have a great chance of success? Getting back up and letting failure make you stronger is definitely one of the keys to success.
Don’t Settle
One thing that sets successful businesswomen apart from everyone else is that they aren’t willing to settle. Striving to achieve more and refusing to be “stuck” in a certain role or a certain place will bring you greater success. If you aren’t happy with where you are and you aren’t finding the passion and success you crave, then push for something greater.
For instance, while working at Amazon Corporate HQ, Emilie Given wanted to commute less, see her family more, and still do work that she loved. She didn’t settle for less. She pushed herself forward and found greater success.
Finding Your Niche Market
Don't settle for mediocrity. To truly thrive, identify a niche market where your business can make a significant impact. Here's how to get started:
Identify Your Ideal Customer: Understanding your target audience is paramount. Conduct market research to identify the specific demographics, needs, and pain points of your ideal customer. This allows you to tailor your product or service directly to their preferences and solve their problems effectively.
Conduct Market Research: Researching your industry and competitors is essential before launching your business. This helps you identify trends, opportunities, and potential challenges. Consider utilizing market research tools like industry reports, surveys, and competitor analysis to gain valuable insights. The SBA website provides helpful resources and tools to guide you through market research.
Develop a Unique Selling Proposition (USP): What makes your business stand out from the crowd? Your USP is the factor that differentiates you from competitors and compels your target audience to choose you. Consider your unique skills, experience, or the specific features and benefits you offer that your competitors don't. A strong USP positions your business for success in a crowded marketplace.
Develop Your Network and Help Others
Other women don’t have to be your competitors. You may have grown up in an environment where you believed that everyone else was your competition, but that doesn’t have to be the case. Find people whom you enjoy working with and who offer you different perspectives. Grow a network and keep in touch with those in it. Not only will there come a time when one of your connections can help you, but there will also likely be a time when you can help someone else.
Working with other women, using your voice to make sure everyone is represented, and striving to create a collaborative and supportive environment doesn’t just help you find success, it brings up everyone around you as well.
Treat Yourself Well
It’s somewhat of a generalization to say that the business world is dominated by men. It’s certainly not as true today as it was even a decade ago. However, it’s still certainly the case in many industries. As you experience business life, never forget that you need to treat yourself well. Don’t minimize your opinions. Don’t talk down to yourself. Don’t be pushed aside. Speak up. Share your ideas. Explain what you know. Don’t shy away from presenting yourself as the strong, intelligent, and knowledgeable person you are.
Be kind to others, but be kind to yourself as well. This will help you feel confident in what you know and what you can do, and that confidence will come across in your work and in every interaction you have.
Successful women in business work hard, are dedicated, and get things done. That means managing a hectic schedule, building relationships, and much more. When it comes to getting things done while still taking care of yourself and your team, having a virtual assistant can be incredibly valuable. For more information on She’s a Given or to find out how we can help you work more effectively, please read more about our services or contact us to find out what we can do.
