Tag Archives: women-owned business

Top 3 reasons why women-owned business owners should attend business networking events

You may think of business networking as an “on the surface” superficial way of meeting new prospects, exchanging business cards, that may not really lead to building new, “genuine” connections, let alone a business relationship.

Yet…being a woman-owned business owner can get lonely. And you do know that getting out there is important, if not critical to your business success. We’re here to tell you that business networking, especially with like-minded people can be a great way to get out of your comfort zone, expand your contact base, build confidence, possibly even find a mentor and most importantly get results.

Here are top 3 reasons to attend business networking events if you are a woman-owned business:

  1. Step out of your comfort zone

Meeting people at networking events forces you to step out of your comfort zone.

There’s something about face-to-face contact that is essential to building your confidence, that you just can’t do by asking a question on a group webinar for instance.

Some people are naturals, but for most networking can be a real challenge. Conferences are a great way to break out and build your self-esteem. Still, if you’re really uncomfortable to go it alone, bring a colleague along!

  1. Meet driven, like-minded individuals

Think you’re the only business owner experiencing certain ups and downs and challenges of running a business?

When you sit in a room full of other like-minded people who are in the same boat as you, it can be a real eye-opener and a great way to learn new tips and techniques to improve your skills and leadership style, that you can bring back to your organization.

There’s also something to be said about people who attend conferences — they paid to get here and be here. There’s no doubt these are driven, determined individuals who want to “better” themselves, and there’s a lot you can learn by just being in that energy.

  1. Share the same space with experts

Conferences often give you the opportunity to be around experts that perhaps there’s no way you could have managed to meet on your own, or have had the time to meet individually.

When you share the same space with an expert, you can learn directly from them, see how they approach obstacles, discover their challenges and their “journey” to get where they are today — which can all be greatly inspiring, especially if your business idol is on stage!

You might even get to ask a question or two, or meet them after a session or workshop.

If you’re still not convinced, remember that you may just find yourself sitting opposite your next big customer at a roundtable session.

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 Questions That Keep Women Business Owners Up At Night

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.

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.

Are You the Next Rising Women Business Owner?

Are you thinking of leaving your full-time job to start your own business? Many women today are considering starting a home-based business, and there are many who started out this way and now run full-fledged companies with employees and revenue in the millions. So, yes if you’re willing to take a risk and work hard, it can be done.

How do we know this? Well, many of the women-owned businesses that attend our WBEC-West annual conferences and even serve as mentors for our Ambassador program started out this way and have never looked back.

If you’re not sure how to start out here are a few business ideas to get your creative juices flowing and get you inspired:

  1. AccountantBookkeeping for small businesses can be a great way to start an accounting business. With some experience behind your back you can move on to higher accounting levels and work up balance sheets, income statements, financial reports and more depending on the needs of the client. With the right licensing, tax accounting is also a huge area that offers a lot of potential. As you bag a few good clients and they’re happy with your work you can look forward to repeat business from them and once you get to the point where you feel the workload is overwhelming it’s time to start hiring help and growing your business.
  2. Consultant 

    To be a consultant, you need to be an expert in an area. Perhaps you did marketing for many years for an apparel company or you were a top project manager for an IT firm, or maybe cooking or photography has been a long-time passion of yours and over the years you’ve garnered a lot of good experience. You could use this expertise to either start your own business or consult and help others do similar things without making the same mistakes that you made along the way.

  1. Event Planner 

    The first step to good event planning are good business relationships. You’ll need to visit every potential location and work with the manager or person in-charge to tour the site and learn what’s available and what’s not available at that location. For example, how many people can the site accommodate, does it have AV equipment. catering options etc. By creating a database of key features you’ll be able to pull up a few locations and recommend the right venue to potential clients. You can start with smaller events like parties and as you gain more experience move up to corporate events and even full-fledged conference event planning by when you’ll have an entire team of staff working with you.

 Some more business ideas you can look deeper into:

• Catering
• Printing and Design
• Cleaning Business
• Freelance Content Writing
• Interior Decoration
• Keynote Speaking
• Property Manager
• Web design and development
• Online Marketing business

The possibilities are endless…

Another major advantage to starting your own business is that federal and corporate entities are looking to do business with companies owned by women. By certifying your business you can qualify for procurement opportunities only available to certified Women Business Enterprises or WBEs. Learn more about the many benefits of getting certified today!