What are some of the issues that you are confronted with daily in your business?
There are many dynamics that women business owners need to look into when analyzing their business. Some of these may include time management, work-life balance, marketing strategies, creating a positive impact and more.
Let’s explore the top 3 questions that keep women business owners up at night:
1. Why am I constantly working round the clock?
Do not attempt to be all things to all people. If you keep working on your weakness, at the end of the day what you will be left with will be a ‘stronger weakness’. Develop your business model around your weaknesses. If you are creating your small business website, working on client acquisition as well providing service/product, chances are that you are juggling a lot of things at the same time. This is an absolute sure-fire way to burn yourself out even before you get your business running. It is advisable to do a SWOT (Strength, Weakness, Opportunity, and Threat) analysis. Put your natural talent in the forefront and delegate or automate the other stuff.
2. Do I need to use business systems?
Yes, business systems do sound intimidating to women business owners who are just getting started. But, having automated systems to support your business will free up a lot of time for you to actually do business and not just be a full-time administrator. As you are acquiring business and developing long term customers, you will also be faced with the added responsibility to maintain and educate the customers as well. Business systems technology now allows you to manage customer relationships, automate e-mails and also send weekly newsletters to your customers. For example, seasonal discounts and marketing flyers could all be incorporated into automated business systems.
3. Am I creating a positive impact to the bottom line?
When women are asked about assets and liabilities they come up with a very detailed list for their business. Often the most important asset that does not make it to the list is ‘YOU’. It is best to invest in educating yourself and keep abreast with everything that is happening in your industry and your supporting business systems. Successful women business owners recognize the need to be guided by a team of good counsel, coaches and consultants. Also, investing in yourself means blocking time on your calendar for self learning, which could be via an online course, an e-book or a mentorship program.
So, to sum it all up, if you do not wish to burn the midnight oil, remember to work on your strengths, develop automated business systems and invest in yourself.