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Growing Your Business: Four Tips for Female Entrepreneurs

September 10, 2012 by Liz Leave a Comment

by
Ken Myers

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What’s the key to small business success? There are many aspects to creating a successful small business — having a skill that others will pay for is only the first step. With more women than ever before getting involved in entrepreneurship, it’s important to be fully prepared with as much information on small business success as you can get.

Growing Your Business: Four Tips for Female Entrepreneurs

What’s the key to cultivating a lasting small business? Below, you’ll find four tips that other women in small business have used to reach their goals.

1. Connect in the Community

No matter what business you create, there are two major avenues for you to think about: Your “business-to-consumer” strategy and your “business-to-business” strategy. Even if you focus mainly on making sales directly to consumers, you can find great ways to achieve institutional contracts by addressing a need that others may not realize is there. Meet with other local business owners to find ways that you can cooperate for mutual benefit. Consider the needs of nonprofit organizations such as schools and libraries, too.

2. Build Your Expert Credentials

To create an enduring business, it’s essential that you become known as an expert in your field. Showcasing your expertise allows you to find customers more easily and put them at their ease. There are many different ways to do this — you can become active in industry associations and volunteer organizations, for example. Publishing books and articles on your subject is also a road to becoming a recognized expert. Help people get comfortable with your reputation! They will reward your efforts with repeat business.

3. Don’t Neglect the Internet

When you have a steady source of local business, you are at a huge advantage compared to competitors who mainly use the Internet to find their clients. That said, you should never neglect the Internet. Local clients and those who will be visiting your area for a short time will both use Internet search engines to find you. Make sure that your business is listed in “local search” features across the various major search sites; also ensure that your site allows potential customers to contact you, make purchases or set reservations. The longer your site is active, the easier it will be to discover you online.

4. Leverage Local Resources

Women in business can benefit from a large number of local, state and national resources. In addition to major volunteer organizations such as Rotary International, you’ll also find excellent resources at your local chamber of commerce and similar concerns. Don’t forget that, as a female entrepreneur, you can often qualify for grants and other assistance from the federal government and a wide variety of pro-business establishments. It is a good idea to gain some knowledge of grant proposal writing and fundraising!

Remember that a business does not typically turn a substantial profit in its first year. Many small businesses close within five years — and it may take up to three years for a business on a successful trajectory to begin showing a healthy balance sheet. During this time, it is important that you gain as much insight as possible into the aspects of business that support your main operation. Always be on the lookout for ways to expand your marketing efforts using word of mouth and direct contact within your local area.

Author’s Bio:
Ken Myers as an Expert Advisor on multiple household help issues to many Organizations and groups, and is a mentor for other “Mom-preneurs” seeking guidance. He is a regular contributor of “www.gonannies.com/”. You can get in touch with him at k.meyerst20@gmail.com.

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Filed Under: management, Marketing /Sales / Social Media, Successful Blog Tagged With: bc, business success, Community, female entrepreneurs, social community, social media community

4 Success Keys for Female Entrepreneurs

July 31, 2012 by Guest Author Leave a Comment

by
Kate Endress

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Practical Advice for Female Entrepreneurs

American society seems to have finally reached the commendable tipping point where the number of women receiving advanced degrees and finding high-paying jobs is leveling out with men. And despite a scary statistic that women lead just 8% of venture-backed companies, I believe that the tide has also shifted in Silicon Valley.

It’s hard to ignore the wave of successful startups with strong female customer bases. Women make up 60% of Zynga’s customers, 77% of Groupon’s customers, 82% of Pinterest’s users and 70% of all ecommerce buyers. Those are numbers that even the old boys club of venture capital can’t ignore. I am a huge online shopper myself, and I was able to leverage that authenticity to attract venture backing for my ecommerce startup last August.

4 Success Keys for Female Entrepreneurs

While admittedly I’m pretty new the game, I’m often asked if I have any advice for aspiring, young entrepreneurs. What follows are 4 success keys for female entrepreneurs.

Seek out strong female role models.

I got some great advice early in my career by a female colleague who told me to find the women I want to emulate and get to know them by offering to buy them a cup of coffee. At first, I was a bit nervous to pick up the phone or write the email, because I knew they were busy women. But in the past seven years, I have reached out at least once a month to female bosses, leaders and entrepreneurs and only once to date has the recipient not been able to fit me in. I’m often touched at how openly and warmly they share experiences both professionally and personally. Ask about their management styles and their tactics for achieving the elusive work/life balance. It is through these meetings that I have honed in on my vision for the kind of female leader, mother and wife I hope to someday become.

Take advantage of a growing number of organizations and resources dedicated to promoting women in technology.

Women just one generation ahead often had to rise through the ranks without a support system. And yet these trailblazers have turned around and paved a path for the younger generations by creating organizations that open doors and facilitate connections for young females in tech. I subscribe to Women 2.0, a Kauffman-backed organization that offers content, community and conferences for women founders in tech. It’s inspiring to keep tabs on other female entrepreneurs, and I’ve attended several events in San Francisco where I got to connect with other female founders. I also applied and was recently accepted to Springboard’s program, which matches female entrepreneurs with coaches, industry contacts and investors. Take advantage of these incredible resources!

Be good at what you do.

Seek out opportunities that might give you a second look because you are female, but don’t depend on that to get the job done. I’ve had several female engineers apply to my company, and I was rooting for them. But at the end of the day they weren’t as good on merit, and they didn’t get the job. Be self aware about your weakness and take advantage of online and local courses to improve everything from your coding to your public speaking skills. Deep down, you know when you are really good at something, and this competence is the crux of the confidence that will make you successful.

Speak with conviction and work on your handshake.

I’ve noticed many women do themselves a huge disservice by raising the inflection of their voice at the end of sentences. It makes everything sound like a question and gives others the perception of a lack of confidence. Make sure your statements really pack a punch. Along the same lines, don’t start an introduction with a wimpy handshake. You don’t need to have an Arnold-grip but make eye contact and shake hands like you mean it. Let others know you are confident in yourself, your team and your idea.

Author’s Bio:
Kate Endress is a private equity investor turned entrepreneur and e-commerce pioneer. After graduating from Stanford Business School in 2011, Kate cofounded DITTO.com, an ecommerce site selling designer sunglasses and eyewear which features cutting edge new “try-on” technology

Thank you for adding to the conversation!

–ME “Liz” Strauss
Work with Liz on your business!!

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Filed Under: Business Life, management, Successful Blog Tagged With: bc, female entrepreneurs, LinkedIn, role models, small business, startups, women in technology

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