In the spirit of celebrating women all over the world, here are 6 tips to help women starting or running a business become successful female founders.
1. Work with people you trust — It is very crucial to surround yourself with people you have utmost faith in so you can rest assured that your business is in good hands — all the time! Every founder needs a partner to run the business with and all owners need trustworthy employees, suppliers, advisers, and investors who have the same goal for the business as you do.
2. Seek advice and guidance — Many people often misconstrue asking for help as a sign of weakness and this mentality couldn’t be farther from the truth! On the contrary, seeking guidance helps you avoid unnecessary pitfalls as you can learn from the experience of others. Having a trusted group of advisers goes a long way in building a successful business.
3. Know your worth — The power of knowing your self-worth, believing in your vision, and having the assurance in yourself that you can realize that vision is underestimated by many female entrepreneurs. Don’t sell yourself short with self-doubt, have a clearly defined vision, and sell it with passion!
4. Take failure in stride — As with every journey in life, the process of building a successful business comes with its ups and downs and the true test of an entrepreneur is in dealing with the obstacles you encounter on your journey. Bouncing back and persevering in the face of challenges is highly critical in building a successful business.
5. Don’t be afraid of laying off the wrong people — This is crucial for many entrepreneurs who tend to build a family spirit for all stakeholders in their businesses. However, this can come at a detriment to the growth of the business when it becomes difficult to lay off unproductive staff or end partnerships. As an entrepreneur, you need to put sentiments aside in cases like this and make tough decisions required for the growth of the business.
6. Take advantage of opportunities — Now, there are many opportunities aimed at empowering female entrepreneurs with capital support, mentorship, and training. More people have realized the importance of females in every sphere of human activity. While there’s still a growing need for more support, take advantage of the current opportunities like female founders’ funds, competitions, and programs to scale your business.
7. Protect your hard-work — You should make sure you are operating as a duly registered business or company to avoid stories that touch with government regulatory agencies. Unscrupulous individuals can also register using your name before you do and start posing as your business. This is why you should ensure that the business name or trading name you want to use is available and you should claim that name early by registering your business very early. We offer one of the best online business name registration services in Nigeria at www.pakomoni.com, be sure to check it out.
To all female entrepreneurs, in the face of challenges, be persistent, believe in yourself, and stay true to the vision you have for your business!
