“You educate a man; you educate a man. You educate a woman; you educate a generation.”
- Brigham Young
Let’s face it, the workplace is unequal! But Female Entrepreneurs is on the rise. Today, women now account for over 40% of the new American businessmen. In 2017, CNBC stated that “the Golden Age has started for women entrepreneurs.”
So, what are you waiting for?
The problem that I see with most female entrepreneurs is self-doubt. If the doubt doesn’t prevent them from starting, it usually hurts them during operation. New small business owners often give their services for free initially, without proper planning this can be the death for a young business.
Janice Bryant Howroyd is the Founder and CEO of Act 1 Group, an employment and consulting agency that generates $1 Billion in annual revenue. In a recent magazine interview, she stated, anytime you are doing something new, you will make mistakes. It comes with the territory. I tell people they should show up authentically. Know that when you mess up, you can handle it. Women can handle anything!”
And she is RIGHT!
Entrepreneurship levels playing the field for women. According to a recent McKinsey report, the number of women in the C-Suite has grown but women and women of color are underrepresented at all corporate levels, and many women get stuck in entry level roles. As an entrepreneur, your success is dependent on YOU!
Here are three questions I ask all my clients when they have an idea for a business:
- Are you passionate about your Product/Service?
When you are fatigued from early mornings and late nights or you just want to give up…. PASSION is what keeps you going!
- Is your Product/Service profitable?
We all have to live outside of work. Does your business have potential to make the money you need to live the life you want?
- Are you knowledgeable about your Product/Service?
Whether you are selling a product and/or service, your customer will rely on your advice and expertise when making their decision. You want to make sure you do research to learn all the angles of your proposed business and understand why the customer(s) need or wants your product. In addition, it is very important to comfortable with the latest technology. Are you on Facebook, Twitter, LinkedIn or Instagram?
If you answered YES to all my questions, the next step is to PLAN YOUR WORK and WORK YOUR PLAN. You will need to create a Business Plan that includes a Budget. Please don’t try to perfect your plan as it will change as you go along your path. But it will give you a direction and a goal to strive for.
Need help creating a Business Plan? Click the link below to schedule a FREE CONSULTATION today. We are looking forward to helping you!
