With almost 13 million businesses owned by women in the US today, between them generating a combined revenue of approximately 1.9 trillion dollars, it’s easy to see why so many women are looking towards entrepreneurship as a means to financial success.
Up and downs are part of the journey for all new businesses so it’s important to look to others for inspiration and advice.
We have collated the best advice from 5 inspirational women entrepreneurs, which is guaranteed to help you focus on your business goal, whether you’re just starting out or you’re already on your journey to independent financial success.
1. Own what you do – Joanne Spencer, founder of Infinite You
When she started her coaching business, Infinite You, Joanne found herself apologizing for her decisions and actions. Until one day, she decided to own her own decisions.
“Instead of feeling guilty for sending her son to nursery or depending on her husband to run the home while she worked on her business, she began focusing on the contribution she making to society and what her business was achieving. She began owning the decisions she made” says Douglas McFarland, a business writer at Write my X and 1 Day 2 write.
2. Just do it – Georgianna Carlos, Co-founder and CEO of Fetch! Naturals
Listed in 2019’s Forbes Asia’s 30 under 30 and becoming the first pet care business in the Philippines to obtain FDA and BAI registration, Georgianna knows how to succeed.
After discovering her new Bichon Frise was suffering from an array of skin conditions, she searched for a treatment. Not finding anything suitable on the market, she collaborated with chemists and business partners to develop her own pet care brand, Fetch! Naturals.
She told the Metro, “People will always judge. You’ll always stumble upon someone who’d be like, why are you starting a business in that industry? Why that business? Why even try?” Her best advice is to worry less about what others think and to follow your dreams—to just do it. You don’t know what you can achieve until you try.
3. Focus on your customer – Shelly Bell, Black Girl Ventures
After experiencing first-hand the difficulties in accessing social and financial capitol as a new business owner, and learning that Black women, in particular, were struggling to access that capitol, Shelley “felt compelled to do something about it” and created Black Girl Ventures, a foundation to support and help businesses owned by Black women.
Her advice is to keep in mind the end goal of the business. Who will be the customers? What do they hope to achieve by accessing your services or products? How will your business solve your customers’ problems? By focusing on these questions and the customer at the receiving end of your business, you will find it easier to create a successful marketing campaign.
4. Seek out your peers – Karen Leonard, Innovative Global Vision
When Karen first created her marketing agency, she shied away from seeking like-minded women. She couldn’t see what she would gain from talking to other women entrepreneurs. After finally joining women’s entrepreneur groups online, she now realizes the power of networking.
From friendship to “not-so-easy-reality-checks” and the chance to access an outsider’s perspective, she now believes that connecting with her peers has contributed to the success of her company.
“Running your own business can be a very lonely venture. Connecting with other women on a similar journey to your own will be invaluable” says Elaine Hahn, a project manager at Origin writings and Brit Student.
5. Remember your worth – Chelsey Green, IVY
Chelsey’s jewelry business, IVY, stocks, markets, and sells jewelry products from over thirty woman-owned brands. In order to succeed, she’s had to juggle all aspects of her business, from email marketing to sourcing and delivering products to customers.
While she uses a range of strategies and tools to make running her business easier, the most invaluable asset to her business is herself and she wants other women entrepreneurs to recognize this, too. Whatever tools or systems you use to assist the running of your business, without you, your business will cease.
A final thought
The overarching theme of the advice given is to be true to yourself and your goals, and above all else, believe in yourself and your business.