The #1 Thing Every Female Forgets When Creating Her New Business
There are some telltale traits that many women have in the process of creating their new businesses.
As a business consultant, I work with small business owners to help them in multiple ways such as figuring out if their business idea is viable, writing a business plan, determining if the business can be profitable, teaching them how to scale a business, how to get started, and so on. These issues are universal to all entrepreneurs. Throughout the years I have observed interesting trends on the tendencies and habits of new and aspiring small business owners, and there is one that is overwhelmingly prevalent in women.
We all know the statistics around small business failures. I counsel my clients to be sure they use every single asset they have to get their businesses off the ground. In fact, I caution them that they will need to do this, or else they’ll fail. It doesn’t take a lot of convincing on my part.
But what almost every gal neglects to do is take an assessment – an inventory, if you will – of what she as an entrepreneur has to work with and how she can use all those assets to be successful.
Clients will show me their bank balances and pricing ideas. They’ll show me what products and services they want to sell. They’ll tell me what marketing channels they will use. But rarely will a female entrepreneur acknowledge what skills, knowledge, and talents she has to contribute to the business. And this piece has a monumental impact on whether or not the business will even get off the ground! It is my observation when she ignores these attributes, the business will not make it. Conversely, the ladies who recognize their strengths and find ways to use them in their businesses find success, and they find it faster!
What every new aspiring female entrepreneur must do is take a serious, hard assessment of her strengths - her God-given talents, skills, and abilities - to be sure she uses them to their fullest potential. She NEEDS to do this to separate herself from the pack. It oftentimes is the most important factor that elevates her from her competition.
For all of you ready to embark on your entrepreneurial journey, I urge you to not leave these valuable assets behind. You need every advantage you can get. Being fully aware of your strengths and proactively using them to advance your progress will pay off in spades. If you aren’t sure how to go about assessing all your strengths, try this easy 9-step workbook. It will open your eyes and boost all your efforts going forward. Now, carry on with the rest of those plans!
Jodi Henson is a business consultant and an entrepreneur. She works with prospective and existing small business owners to help them overcome challenges and attain their goals. Jodi lives in NE Florida with her husband. You can contact her at firstname.lastname@example.org