Reality is that 68% of new businesses are started by women, but often those statistics fall short when it comes to success and profitability of those businesses.
Don’t get me wrong, there are many, many profitable women-owned businesses, but before ditching your corporate job, here are a few mindset strategies tips to consider.
* Do What You Love:
Find a business that you are passionate about, instead of one that just makes money. Often times people get involved in something because of the money, and then realize how much they dislike it. But when you are doing something you love and that is also in demand, the money will come and it will also feel good.
* Know Where to Place Your Focus:
Remember the 80/20 rule. This states that 20 percent of the work you do produces 80 percent of the results. Use metrics to identify what part of the work you’re doing is getting the results, and then do more of that and less of what is not producing results.
* Identify Your Strengths & Weaknesses:
It’s important to be honest about what you know and what you don’t know. You want to work from a position of strength. Do what you do very well and do a lot of it. When you do too much of the things you’re weak at doing, you will lose the joy of your business as well as suffer as a result.
* Be Accountable to Yourself & Others:
Honesty is very important, including self-honesty. If you can’t tell yourself the truth, look yourself in the eye, and move forward with your goals, then you’ll fail at being a business owner. Building and running a successful business takes work and it takes all of you, be realistic about what you can handle.
* Recruit Your Own Dream Team:
Everyone is not going to be right for your business. Learn to trust yourself as you choose a team to work with, whether employees or contractors. Skills and talents matters, but so does personality and being the right fit for your business.
* Don’t Apologize:
As women, we can be guilty when it comes to apologizing for our success, strengths and assertiveness. Remember this,
- You’re not bossy; you’re the boss.
- You’re not arrogant; you’re in charge.
It’s okay to be successful and not sorry about it:)
* Get Help When Needed:
The most successful people know that they need to ask for help when it’s important. You don’t have to know everything and do everything, but surrounding yourself with the right group of talented people is critical – from direct employees and contractors to business coaches, mentors and fellow entrepreneurs.
Have you been thinking about starting a business?
(Photo credit: stockimages/Freedigitalphotos.net)