Make it Work: Tips for Women in Small Business
You’re already an inspirational woman, who has big dreams of starting a small business from scratch. Your initial reservations are probably that many small businesses can fail within the first year of starting up, but you don’t need to worry.
If you’ve got the drive, passion and clarity for your business you will be soaring your way to the top in a flash. I believe in you!
Firstly, you need to set your initial goals and brainstorm the main innovations bubbling in your imagination. Make sure you do some market research to check out your potential competitors in the market, too. You might find a niche that you can maximize on, so roll with it if you gut is giving you good vibes.
Once your plan is mapped out in your mind you can start bringing pen to paper and get your invigorating ideas out into the world.
Inspire With Ideas
Your first ideas may well be vast and broad, but you need to come up with a plan to hone in on one clear cut idea. Don’t stray away from the goal you’ve set and try not to lose focus.
If you’re starting up an online business you will need to get going with website and social media . These platforms can catapult your business idea from tiny to tremendous, so make sure you make the most of the prolific platforms out there.
When starting out, I overlooked the importance of having a "fan group" on social media. Don't make the same mistake I did. (Make sure your social media name echos your business name so you’re easy to find, too.)
Your ideas are what makes you the firecracker business woman you are, so don’t rush yourself on coming up with a finalized plan. Even the greatest of businesses are constantly flourishing with new thoughts, so keep a notepad with you at all times and scribble down those light bulb moments as soon as they come to you.
Part of your planning stages should involve a detailed map of your finances. You may want to consider low-risk options first, so don’t throw all of your money into the business all at once.
Consider looking into a line of credit, which will make cash available to you, but has a lower APR than a credit card. Set yourself a start-up budget and write down your method for making this money back.
Don’t overlook women small business grants. These grants can get you up and started in your business without going in debt. According to NerdWallet, you should look for grants here:
Research is key when it comes to setting your prices so make sure you stay competitive with your product or service. The amazing things about being a boss is that you have complete control of your own decisions and finances. Being financially independent is most woman’s goal and you have the power to make that happen. With a solid financial plan and planned out cash-flow you’ll have this in the bag.
Let Your Creative Freedom Flow
As soon as your business is ready to hit the masses you have the freedom to run with your creativity. Keep your brand on point and allow it to progress and flow freely as the industry changes. Stay one step ahead of your competitors by always listening to your clients and consumers. They will give you honest feedback on where your business needs to go.
There will undoubtedly be a few bumps in the road when starting up a small business, but you have the strength to catapult your ideas into the big wide world. You should always aim high and never hold back. Feel brave and empowered and set your business ideas free!