5 Tips for Female Entrepreneurs
It’s Women’s History Month! As one of our favorite months, it is the perfect time to celebrate woman entrepreneurs and women-led businesses. Connecting with females and sharing their stories is a key focus of our agency. We recognize and honor the challenges female entrepreneurs face in their industries every day. Females are driving innovation in their respective fields and positively impacting our nation’s economy.
Let’s take a peek into how women are making a difference:
There were 1,817 new women-owned businesses per day in 2018-2019 and 89% of those new businesses are minority-owned
The number of women-owned businesses climbed 21% to a total of nearly 13 million between 2014 and 2019. Additionally, women businesses revenue rose 21% to $1.9 trillion, while all businesses increased only 9%
74% of women founders knew other women business owners before starting their own business
Source: American Express’ 2019 State of Women-Owned Business Report
To foster a mission of establishing business led by women, here are five tips for female entrepreneurs ready to make history:
Focus on improving not only your life, but the lives of other women too. A solid business is one that solves real problems that everyone encounters. Making another’s life easier, less expensive, more fruitful, or all around happier is worth someone’s investment.
Invest in the right tools to promote your business. If you can’t afford a professional marketing agency, that’s okay. Making self-change is better than no change and as females, we’re here to help you get started. We’ve developed a series of how-to marketing guides for the female entrepreneur who is looking for a do-it-yourself approach. Check them out: Company Values, Building-A-Brand, Visual Brand.
Attend women networking events and get to know other women business owners. You are not alone. Many like-minded women are also building or acquiring businesses and are reaching out for help from additional women entrepreneurs. Find groups, whether it be online or in-person, and start building up your female network! Exchange referrals, offer advice, try out their product, give quality feedback, or just hangout. No one knows your struggles and success better than other women in business.
Here are a couple of resources to consider: Join the Girlboss.com Community, get advice from the women of Create & Cultivate, or impact the next generation of women with Girls Inc.
Notify everyone about your business. Our first customers tend to be people that we know, so let everyone know which industry you are in and exactly what you are doing. Have your elevator pitch ready to go and stay on the top mind!
Get a sponsor (this is different than a mentor): What is the difference between having a mentor or having a sponsor? In short, mentors advise you and sponsors advocate for you. Mentors have mentees → Sponsors have protégés. We love sponsors because they help you get jobs, clients and make valuable career growth a reality!
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