Jo Why Lee

London - United Kingdom

    5 Success Tips for the Female Entrepreneur

    April 8, 2017

    Running your own business is great for so many reasons. Besides the flexibility of combining home and business responsibilities, you also get to enjoy being your own boss. In fact, there are many reasons that suggest women make better entrepreneurs. Despite what people think, managing a business is not as easy as it seems. From dealing with rising overhead costs and employee issues to juggling your own personal life, self-employment can take its toll on you. 

    Fortunately, many women have succeeded in the role. Here are a few success tips to help you steer that ship a lot easier.

    Hire a comptent team

    1. Hire a competent team

       

    A business is only as successful as its employees. There are several cases of businesses that crumbled because of incompetent staff and management. Even if you are a good lone ranger, the moment you start hiring, you have shifted some responsibility to others. A good team can make or break your business.

    Your company has the potential to scale when you have experts steering it towards your vision. You know your business is in good hands when it can run efficiently in your absence. Therefore, when hiring, look for the best and communicate the goals of your company accordingly.

    Learn to delegate

    2. Learn to delegate

       

    As an entrepreneur, you’ll often be tempted to do everything yourself or micromanage your staff. Not being able to trust your team is a sign of an incompetent staff and this can burn you out quickly. Start by surrounding yourself with capable hands, then delegate responsibilities to each member.

    A sign of a good leader is the ability to recognise strengths and weaknesses of each member of the team. With this knowledge, you’ll know who is best suited for certain projects. Delegating tasks gives you more time to yourself or allows you take on high-priority issues.

    3. Take time for yourself

       

    Your business is important, but so is your personal life. Having a good work-life balance means you can win both ways. Take some time off to build yourself back up - it could be acquiring new skills or facing something you are very passionate about.

    4. Take time to train

       

    Its very important that you keep your mind and body in top shape. So exercise regularly and make sure you are in top condition to tackle the often gruelling and physically tough working days. “Healthy body and healthy mind” is a popular mantra for this reason.

    You can also get help with your work by giving your brain supplements to make it sharper and give you more work focus. Mind training experts at Nootropics Expert advise women to exercise both physically and mentally to stay fit. “While you workout your body, learn to train your brain as well. Supplements and brain training enhance cognition and will help you handle business issues more effectively. They can help with focus, long-term memory, and learning.”

    5. Never stop networking

       

    As a startup owner, you’ll need all the help you can get to lift your business off the ground. One guaranteed way to do this is by leveraging your networks. Attend conferences and meet potential investors of partners. There are other business owners looking for the services you offer.

    Joining industry groups, especially on sites like Angel List, Opportunity, Partner Up, and LinkedIn help you find suitable partners. These professionals can provide a solid sounding boards for fresh ideas and opportunities.

    Running a business can be a handful but once you get over the complex initial stages, the rest of the journey will be easier. Hire a great team, delegate properly, make time for yourself and never stop networking. If you remember these fast-track steps, you are on your way to winning big.

    Read Jo's other blog entries >

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