10 tips for female entrepreneurs

For a very long time, men have been known to be at the helm of many business setups. A quick search on the internet will reveal a majority of men

10 tips for female  entrepreneurs
  • PublishedJune 10, 2021

For a very long time, men have been known to be at the helm of many business setups. A quick search on the internet will reveal a majority of men being among the most influential entrepreneurs.

Nowadays, however, many women have began setting up their own businesses. Progressively, there has been a positive surge in female-owned businesses which are actually performing as well as male-led businesses.

For it to get to this point, a lot of empowerment has been done to the girl-child. However, there still exists a percentage of women who think that becoming a successful entrepreneur is far from their reach. Truth is, with the support and proper guidance, even those with doubts can turn their passion into a business

The following tips can help guide women into being successful entrepreneurs:

Be passionate

Passion is said to be a ‘fuel’ that can drive any agenda. Business is not any exception. It is passion that will make you want to wake up the following day and work towards growing and maintaining your business, especially in beginning before it stabilises.

2. Be determined and patient

There are very rare cases of businesses that have become successful overnight. You obviously want to see your business grow and eventually begin paying back but this will need patience. Determination minus patience may lead to frustrations, which will eventually discourage you from seeing your business through its different levels.

Photo by Christina @ wocintechchat.com / Unsplash

3. Be Creative

Creativity and entrepreneurship go hand-in-hand. It is believed that doing things the same way will guarantee the same results as before. Hence, employing different tactics should eventually yield different results, positive ones for that matter. Constantly thinking and implementing practical ideas of how your business can stand out from the rest, will guarantee success.

4. Know when and where to focus your time and energy

As a woman, distractions from other responsibilities such as family, may threaten to shift your focus away from your business. Prioritizing the task at hand will prevent other distractions from interfering with your current focus.

Tips for taking women-owned businesses to the next level
Some of the solutions include unsecured LPO financing of up to KES 6M and unsecured loans of KES 6M with up to 60 months repayment period.

5. Maintain your commitment

Remaining dedicated to you business will help boost your focus and determination. Commitment allows you to progress and grow without validation or approval from anyone.

6. Overcome fear of failure

Fear of failure is a major factor influencing most women from venturing into entrepreneurship. The only way to overcome this is to just start. Judging from the already successful businesses, if their founders allowed fear to come in between them and their dreams, they would not be in existence.

7. Do not stop learning

Constant learning creates room for new ideas, new opportunities and improvement. Master you trade but also have the desire to learn new things as time passes. This can be achieved by surrounding yourself with like-minded people, especially women who are excelling at other things.

For instance, some financial institutions provide avenues for mentorship and networking that can be great avenues for learning.

8. Know your target audience

Most entrepreneurs build their brands without defining their target audience. These are not only your customers, but also employees, influencers and peers. Having a clear understanding about your customers will also enable to you innovate better ways of reaching them and delivering your quality products or services.

9. Build a team you trust

However big or small your team is, let trust and reliability be the most important aspect about it. Sharing a vision together with the team will create a workforce that is geared towards winning. Empower each other while at it to make sure everyone is not left behind as you all progress.

Photo by Christina @ wocintechchat.com / Unsplash

10. Adapt to the business world as much as you can

As a woman, you already know that  regardless of what industry you are in there are certain challenges that come with being a female business owner. Case in point is the need for collateral for loan which can be land whereas it is men who primarily own land. Additionally, a part of the society already does not appreciate successful women. Develop ‘tough-skin’ towards such attitudes to avoid being discouraged. Stay approachable as you remain driven towards your goals as this flexibility goes a long way in the business world.

Bottom line

According to Absa Bank Business Director Elizabeth Wasunna-Ochwa, women in business face a number of barriers but this should not be a deterrent, “If you are passionate about something, don’t just dream about it, talk about it too, because there is so much can be done to support you. I believe that women have what it takes to be successful.”

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