Tag Archives: women entrepreneurs

Five Daily Habits of Successful Women in Business

As the old adage goes “humans are creatures of habit,” the same principle also applies in business, and women worldwide have successfully incorporated this to bag huge success in their business endeavors.

Here are 5 habits that successful women in business incorporate almost daily:

  1. Networking

Networking not only helps women entrepreneurs become part of a community but also helps in advancing the business by strategic associations that can greatly benefit in generating new business. Networking gives the necessary boost that helps open doors of opportunity by exposing your business to a wider range of potential customers.

Women business owners know and understand that this habit needs work on a continuous basis in order to maintain relationships and develop new ones. After an initial introduction it is best to e-mail, connect over coffee, via LinkedIn, or attend networking events like WBE2WBE Connections, to keep in touch. Networking is a give and take relationship and needs to be maintained by giving referrals, and regular communication.

  1. Goal setting

As is true for any personal or professional achievement, goal setting is the key for successful women business owners. They maintain their short term as well as long term business goals and work on them on a regular basis. Women business owners ensure that the goals they set are specific, measurable, accurate, realistic and time bound. This helps them to take their business to the next level.

  1. Continuous learning

The business world is continuously changing and adapting to the customer’s needs. This makes it inevitable for the women business owner to continuous keep herself updated by taking online courses, brushing up executive skills and obtaining the necessary certifications that are required for the business to maintain a competitive edge in the market.

  1. Time management

One of the top skills of any business owner is how well they manage their time. Women business owners understand this equally well and make sure that they are in total charge of their time.

  1. Creative thinking

The root of great success lies in creative ideas. Women entrepreneurs make time to relax, rejuvenate and work in solitude to generate creative solutions and ideas to enhance their business. They also ensure that they take time to maintain a healthy mind, body and spirit, and meditate, visualize and affirm on their immediate and future decisions and steps to enhance their business.

In order to keep growing, it is important to keep abreast with new technology, latest trends in your business space, and finding creative solutions that will keep women successful in their business endeavors.

TOP 5 REASONS TO PARTNER WITH A CERTIFIED WOMAN-OWNED BUSINESS

A certified woman-owned business is not a feat that is achieved overnight! Women-owned businesses undergo a thorough formal documentation and site visit from a third-party certifier (such as WBEC-West) before they are accredited.

The business is highly scrutinized and may take up to 6 months  just to complete the paperwork and receive certification. If that justifies the importance of being a certified woman-owned business, there are more advantages to partner with one. The top reasons are:

  1. Opportunities

This would be the primary and most important reason to partner with a certified woman-owned business.  The federal government sets aside opportunities (contracts) every year for qualifying women owned small businesses.  The number and size of these contracts varies by industry based on how well women are represented.  As you’d expect,  there are more opportunities available in industries  that are underrepresented in women business owners.

  1. Drives Competition

After partnering with a woman-certified business your company has access to other multiple avenues for goods and services. This allows you to compare prices with your existing vendors and service providers and drive them to offer you more competitive prices. This opens up channels to build new supplier alliances.

  1. Taps Women Customers

Apart from women being a growing economic force for the nation and in the world, women themselves have a great buying power. Women customers not only drive sales up by their purchasing power but also market the services and products they like by speaking about it to friends, family and colleagues. This no-cost word of mouth marketing can lead to spiking profits for the partnering company.

  1. Showcases Diversity

Diversity positively impacts the bottom line of any business. Working with woman-owned businesses sends a message to vendors, investors and potential customers that your company supports diversity. This in turn, enhances economic growth in local communities.

  1. Promotes Innovation

Woman-owned businesses, normally being smaller companies, are aware of the tough competition and hence try to bring more innovative and creative solutions to the table. Partnering with a smaller team provides the advantage of getting prompt customer service. They are also able to assist by making quicker course corrections and provide much faster turn-around times than their larger competitors.

As woman-owned businesses grow, it will boost the nation’s economy. Moreover, it will leave a lasting impression on your company profile, by being one which has assisted economic growth by partnering with local, diverse and minority communities.

3 Ways Women in Business Can Overcome Challenges and Get Ahead

Did you know that more than 9 million firms in the United States are women-owned? In fact women business owners have close to 8 million employees and generate over $1.5 trillion in sales, as per the National Association of Women Business Owners.

Although more and more women are venturing into entrepreneurship the challenges they face are often not the same as their male counterparts entering the business world.

Here are 3 ways women in business can overcome challenges and get ahead:

1.Get over social stigma

When you walk into a crowded networking seminar and you can count the number of women there on your fingertips it can get intimidating. However, you’ve made it this far so being true to who you are and believing in what you have to offer and what you bring to the table can give you the boost of confidence you need to find your voice in situations where you might feel singled out. Also, understanding that if you don’t speak up for your business and make it known, no one else will.

Build a support system.

According to Inc. close to fifty percent of all women entrepreneurs don’t have mentors that can help propel their business growth. When you’re trying to blaze your way in the world of male-dominated businesses, having the advice of a woman mentor who has ‘been there and done that’ can be extremely helpful. But the challenge is in finding a reliable support system. Certifying your business as woman-owned can not only help you get found by procurement officials but also directly enroll you to attend conferences designed to get you networking with other like-minded women owned businesses and find promising mentorship opportunities.

Find work/life balance

Whether you’re a man or a woman, finding work-life balance is no doubt hard, however in the case of women and especially mothers who venture into entrepreneurship most would agree that dealing with the business would get a lot easier if you didn’t have the kids to deal with! The key is to not beat yourself up or sweat the small stuff and come to terms with the fact that you got into this knowing that your responsibilities will be shared between the family and the business.

WBEC-West provides an excellent platform for your business to grow, connect with other businesses in both your local community and nationwide, and be a mentor to other women businesses. Learn more.

 

Are you a Woman with an Entrepreneurial Spirit? Top 11 Questions to Ask Yourself!

Do you consider yourself to be a successful woman entrepreneur? Today’s women business owners are highly skilled, talented, sharp and technologically savvy.

But more than that, they all share one common denominator – they have an unstoppable entrepreneurial drive and spirit that keeps them going!

There’s no doubt that more women are entering the business world today than ever before – there are those venturing in after years of child-rearing, multi-taskers who are balancing both business and family life and women with a strong entrepreneurial drive ready to take on the world.

It can be said that women are wired for juggling business and family and multi-tasking, but do all women have what it takes to be a successful entrepreneur?

Here are top 10 questions to ask yourself to assess if you make the grade to be a successful entrepreneur:

  1. Have I always wanted to be my own boss?
  2. Do I take direction well from others,­ or have a mind of my own and want to live on my own terms?
  3. Am I ambitious?
  4. Is money a motivating factor for me? Do I want to build wealth?
  5. Can I take calculated risks?
  6. Do I like to be in control?
  7. Can I handle failure? Can I fail and start again?
  8. Am I passionate about what I am doing?
  9. Do I make decisions quickly and can set things in motion?
  10. Do I like to get things done and not procrastinate?
  11. Do I look at the big picture, can plan and start things with the end in mind?

How many did you check off? Even if you picked a few and have the motivation and drive to pursue your dreams, you have an entrepreneurial spirit waiting to emerge.

If you really want to take the step to starting your own business do your research and be prepared. The journey ahead is going to be exciting, but certainly not easy. Talk to women in business. Find a mentor. Join a community.

At WBEC-West we support women business owners to get more business, grow and be successful. Getting certified could be an excellent step to connect with like-minded women,­ discover game-changing mentorship opportunities and join a vibrant WBE community. Learn more.

5 Game Changing Facts You Need to Know About Women in Business Today

Did you know that women entrepreneurs account for owning almost half of all businesses in the USA?

Today more than ever, more and more women are entering the world of business. A recent study showed that one out of every eleven adult women, is a business owner in the USA. It’s not surprising since many women today are simply breaking free from gender-based stereotypes, or are re-entering the workforce or starting their own business after rearing children. Also women are just naturally wired for juggling family and work and multi-tasking.

In fact, according to research reported by the SBA in May 2016, there are more women entering the business world today, than ever before. Here are some game-changing facts worth noting:

  1. “Women are entering  the  ranks  of  business  ownership  at  record  rates.  Women  are launching a net of more than 1,100 new businesses every single day.”
  2. “Women-owned businesses comprise 36% of the country’s businesses. They employ more than 8  million workers,  7  percent of  the  private-sector workforce.  They  generate more than $1.4 trillion in revenues, contributing 4% of business revenue.”
  3. “In 2002, there  were fewer than  1  million  minority  women-owned  firms.  As  of  2012, there  are  nearly  3.8  million  firms  owned  by  women  of  color.  Between  2002  and  2012, the number of non-minority women-owned businesses grew by just 9 percent, while the number of minority women-owned businesses overall grew by 315 percent.”
  4. “Between 2007 and 2012, the number of female veteran-owned businesses increased by 295 percent. Today there  are  more  than  383,000  female  veteran-owned  businesses  in the U.S.”
  5. In fact 2015 proved to be a historic year in terms of Federal contracting because, “for the first time in history, the Federal Government met the 5 percent women-owned small business (WOSB) goal.  In  FY15, 5.05  percent  or  $17.8  billion of  all  federal  small  business eligible contracting dollars were awarded to WOSBs.”

These facts are exciting news for women entering the world of business and women looking to take their business to new heights. At WBEC-West we help women entrepreneurs everyday get the certification they need to procure essential contracts and grow their business.

This one step alone can be the game-changer you need to get your business noticed and be an increasingly successful women business entrepreneur. Learn how we can help.