As women have been taking entrepreneurship by storm in recent years, we’ve decided to take a look at what exactly their secret is to success. Our findings? While everyone has something different they credit as “their secret,” here are a few basic commonalities we found as essentials for the women entrepreneur. Check them out below:
The Look
A key component for many entrepreneurs is to have a perfect look. Why is this so crucial? According to studies published by Inc, how you dress can not only play a role in how others perceive you, but how your productivity sways as well. Yes, having a smart look can make you feel much better about being your own boss, which is why you need to define what exactly that looks like for you.
Your look should be based upon functionality as much as it does style. No matter if it’s accessories like a stylish laptop bag for women or staples like a proper pair of close-toed shoes, everything should be tailored to your position. For example, someone that owns a FinTech company will be more likely to take on a look that works in the office as much as it does during high-power meetings. Define your style based upon the needs of your day-to-day, as something that’s just as much empowering as it is comfortable.
The Routine
If you ask any successful entrepreneur what’s their “secret to success,” a large majority of responses would probably involve a solid personal routine. Although many assume this means being up at the crack of dawn, that doesn’t necessarily have to be the case; in fact, according to a study published by Trello, people who were “morning people” reported feeling happier and healthier than night owls, however, that only accounts for those who are working a 9 to 5. Considering that you run your own shop, the difference comes down to how to balance personal health/achievement with your obligations.
The first step in developing a stable routine is deciding what you need to have a successful day. Is it a morning workout? Meditation? Being at the office by 8 am? Whatever the case may be, jot those down first as your “must haves.” For example, if I know I’m most productive by having an hour jog in the morning but also need to be at standups by 10 am, then compromising on when you wake up every day will be definitive. Your overarching mission here is to create a schedule that can be repeated day-in and day-out, providing enough rest to avoid burnout.
The Mentor
As being a great entrepreneur is about continually learning and adapting, sometimes having someone there that already knows the ropes can be key. This is proven to bring about success because as noted by Small Business Trends, in a survey of business owners, 80 percent of entrepreneurs with a mentor were still in operation a year from the initial survey. The knowledgebase someone from your industry can bring to your firm is invaluable.
Especially as a woman entrepreneur, having mentors that mirror your journey is going to be crucial. While that’s not to say you can’t have men as mentors as well, it’s essential to also connect with strong women leaders, absorbing different leadership styles as well as different approaches to scaling. No worries if you find yourself lacking in these strong relationships, which you’ll find through networking at events such as meetups or conferences. Remember, having a mentor isn’t something you bring on simply for the sake of having, but rather as a person you genuinely connect with and feel like will help you take your business to the next level.
The Process
Finally, with so many business owners finding themselves burnt out from constantly having to run around and set out fires, having proper processes in place to handle any number of problems is imperative to both relieving stress as much as maximizing revenue. According to Entrepreneur, companies lose 20 to 30 percent in revenue every year due to inefficiencies, which goes to show how important these are to get ahead of. Even if you’ve been in the thick of things for a while now, this is still a great practice to reassess.
Go through the list of functions you need for your business to run, regardless of how important you rank them. Next, ask yourself and your team what type of improvements could be made for each category, including how it’ll improve ROI or speed. The more you’re able to hone in on your problem areas, the better off you’ll be in improving them over time. Take this as a process you regularly conduct, giving yourself a better sense of security in your day-to-day operations as you grow.
What are some things you consider essential for the woman entrepreneur? Comment with your answers below!
