Tips for Women Entrepreneurs by BHIVE
Hey, here are a few tips for Women Entrepreneurs by BHIVE
1. Choose an area you are passionate about
You have to live and breathe your start-up for at least the first year. So, choose your start-up in an area that you are passionate about. When you are passionate about product and service you provide, it will show when you deal with potential investors and clients. This makes them more likely to trust you, want to create lasting relationships and be more agreeable about doing business with you.
2. Find Your USP
USP stands for unique selling proposition, a quality or trait that your product or service offers which is unique to your start-up. Your USP makes you stand out from your competitors. USP adds value to your products and services, and it attracts potential buyers to do business with you. It also helps in communicating more effectively.
3. Be Confident
Confidence is the key to success. You need to have confidence in your business and your product, because it takes a lot of courage to start something on your own, and when you are confident about your business, it makes others confident about your business as well. Everybody takes you more seriously when you exude confidence. Don’t be reserved about promoting your talents. There’s no modesty in the world of business.
4. Be Social
Networking is the best way to market your business, grow your team and get yourself known in the start-up ecosystem. One of the best ways to improve your network and contacts is to attend events that other likeminded entrepreneurs are interested in. It isn’t about being loud about your business; its about sharing, seeking and providing advice, make contacts that run in favour of your present and future plans. You never know who can take you to the next level, so be open and social.
5. Learn as Much as Possible About Finances
While it is good to hire an accountant for your start-up. You need to know what’s happening with the cash in your business. You must be able to figure and point out revenue generating aspects and reduce expenses. At the same time, you should have a good understanding about taxes, financial sheets – Profit and loss accounts, Balance sheet, Journal etc. For you to read and control your finances you must be able to read your financial records accurately. Keep yourself as much aware of your finances as possible.
6. Most Importantly – Believe in Yourself
There’s no secret to success, except that you need to believe in yourself. In reality, women are often looked down upon in the business world. So, you need to believe in yourself, especially when others cannot bring themselves to believe in you. Believe in yourself and take your start-up forward. Soon, others will begin to believe in you as well.
We hope these tips for women entrepreneurs were of value to you. Do share it with those you feel should read these!