A Woman’s Guide to Starting Business

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Starting Business

Starting Business

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As the saying goes, it’s a man’s world, and the outlook for women entrepreneurs isn’t exactly lucrative. According to the National Association of Women Business Owners, 40 percent of all private businesses are owned by women, yet 97 percent of those businesses fail to reach the million-dollar mark, and all too many fail within the first five years. With these statistics, Starting Business as a female entrepreneur is probably intimidating at best, but success is a matter of having the right preparation during startup.

Gather Your Supplies

Starting Business takes a considerable amount of planning and preparation, so before you begin, gather all the necessary supplies to create an atmosphere where you can work efficiently. Here is a list of supplies you absolutely need as you begin your business.

  • Office space (whether from within your home or in a business building)

  • Work-only computer

  • High-quality laser printer/copier/fax machine

  • Bulk supply of paper, ink, and toner

  • Software and mobile apps for business processes

  • Office furniture and storage

  • Website platform

  • Funding (i.e. loans, start-up capital, investors)

Gathering the right supplies before you get down to the nitty-gritty of planning will keep you from worrying about the tiny things like running out of ink as you prepare your business plan while Starting Business.

Starting Business Plan That Works with Your Personal Life

Though gender roles are changing, one of the biggest reasons businesses fail for women is their personal lives. Many of today’s women won’t have a problem with this, but those who have families have a very difficult time balancing their businesses and families. To ensure that you can handle both family and business obligations, begin by creating your business with a solid plan for balance. Plan how much capital you’ll need, how much time you can devote to the business, what work you can do at home, and where you see your business in the future. If your business seems like too much for you to handle by yourself, consider finding a business partner or hiring extra help during the startup process.

Create an Advisory Group

As much as you want to (and should be able to) do it alone, the world isn’t fully accepting of female entrepreneurs making it in the big leagues. In order to boost your abilities and chances for success, form an advisory group. A group made up of successful consultants and business advisors can help you figure out your legal work, finances, marketing strategies, business plan, and more by providing insider tips on how to make your Starting Business to the top.

Network

Success in business is really about who you know, especially for women. Anytime you have an opportunity to talk about your business with someone in the business world, do it. You can find all sorts of people worth knowing at trade shows and business expos all over the world. There are also business conferences devoted entirely to women. You’d be wise to take advantage of every physical networking opportunity available. Starting Business

You can benefit significantly from your online connections as well. Build up your LinkedIn, Facebook, and Twitter pages and spread your brand across the internet with forums and other platforms. Using social media strategically could mean being endorsed by big names, which means more success for you. Starting Business

Don’t Be Intimidated

Try not to be intimidated by the statistics. As a woman, you have several strengths as a business owner that men don’t, and if you play up those strengths, you have no reason to fear the man’s world. According to a study performed by Cosmopolitan Magazine, women tend to learn better, have higher IQs, possess stronger personal skills, adjust better to change, work better through financial challenges, and receive higher levels of education than men.

You most likely have these strengths and more that you can use to expand your Starting Business. Make a list of your strongest attributes, and play to those strengths as you plan your startup. With these as weapons in your arsenal, you won’t have anything to worry about when it comes to navigating the “men’s world” of business.

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