7 Important Lessons for Women Entrepreneurs

Global trends suggest that the number of businesses led by women is on the rise. It is staggering to observe the increasing number of women breaking aside traditional barriers that have held them back. The number of women-led businesses at the top of the list is still relatively low. It will take some time for that to change. However, we congratulate women in business for playing a growing role. As successful women entrepreneurs, we can learn from them, as they have carved out their own spaces in spite of discrimination and male dominance. 

Here are some lessons every woman entrepreneur should learn

Don’t Be Ashamed to Ask for Directions

If you don’t ask for directions, you won’t succeed. To succeed in life, you have to make an effort and do your best. If you don’t ask for directions, you won’t get anywhere. Since you will never know everything about business, you will get lost along the way. It is not uncommon for successful women entrepreneurs such as Oprah Winfrey to conduct extensive research on their fields in advance and ask questions and gain assistance when necessary.

We have to be intentional about making profits

My theory is that most women-led businesses fail because they solve problems without considering the business side of things. We are passionate about solving problems, and we forget about the business side of things. Profitable businesses help keep us afloat and ensure we can continue solving problems larger and larger as we proceed. Venture capitalists do not invest in businesses that do not show a strong ability to make money.

Work-life balance happens when we build strong and independent teams

Running a business and having a family should not be mutually exclusive. As women entrepreneurs, we shouldn’t be forced to choose between the two. Building a team and setting up a work culture in your company are important aspects of achieving a work-life balance. Your team should be empowered to work independently without constant supervision by recruiting people who complement your abilities.

Find your passion and go after it

People who are ambitious possess a passion for what they do and a perseverance that sets them apart. They’re fighters and grafters, and they master the ability to overcome difficulty. Despite obstacles such as thorns, women like Karren Brady rise to the top of industry tiers because they do not back down from them. When the going gets tougher than usual, your passion will enable you to stay on track and take full strides towards outstanding results. This is why the spark is a woman’s best friend: Your passion is more important than fame or money. Let that guide you when the waters of entrepreneurship appear murky.

Believe in what you can do

Self-confidence was an essential aspect of achieving success and it was also one of the biggest challenges. Screenwriter and ABC Supply Company co-founder Diane Hendricks suggests establishing a career in which you are interested. Despite your initial perception that your work is difficult, she continued, “if you believe you can do it, then you should do it.” She explained, “If you believe you can do it, then you should do it.” Plans and strategies cannot work unless you believe that you can accomplish them and if you put your energy into them. In the beginning, you might not be able to accomplish this; if you believe you can, then do it. Success in business comes from believing in yourself, and that can only happen when you are confident in your abilities.

Look for good mentors or idols

The obstacles that you will encounter as one of the woman entrepreneurs are far greater than those that you will encounter as a man. Entrepreneurship is an arduous and long journey. During such nerve-wracking and demanding times, you will find a mentor or guide to be of help. A mentor helps you stay humble, gives you guidance, and provides perspective to your actions. It is imperative that you surround yourself with individuals who encourage you each and every day in order to achieve more. You should surround yourself with people you can trust and who can help you with anything, whether it is financial or emotional.

Be assertive

Oftentimes, women entrepreneurs do not assert themselves because of fear of judgment or shame. Being assertive or domineering is a sign of a good leader. The fear of being singled out or labelled has become deeply ingrained in many women from an early age. The value of your time, efforts, and skills make it appropriate for you to be bossy and to speak your mind freely. However, as a woman entrepreneur, it is much more difficult to achieve success than men. Also, despite the fact that fewer than 5% of these businesses are led by women. There will be some time for that to change. However, as we applaud women’s growing involvement in business, the lessons we can learn from women who have succeeded despite discrimination and male dominance are essential. To stand your ground when needed and to say no when you need to, you need to learn to be assertive and self-confident.