Category: Entrepreneurs

Contributed by Usman Raza

You don’t have to be a man to be a successful entrepreneur; women are as equally great or are better entrepreneurs. In the past, entrepreneurship was once considered a man’s domain; but in today’s society you’ll find that many (although not enough) of them are run by women too. According to the National Association of Women Business Owners, more than 9 million U.S. firms are now owned by women, employing nearly 8 million people and generating $1.5 trillion in sales. Although our society has evolved and more women are embracing entrepreneurship, they often face challenges and are still looked down on when it comes to running a business.

Despite the challenges and mishaps, women remain strong and continue to grow in number as years pass by. From lawyer firms to tech and fashion to beauty; women start businesses in many categories. No matter what line of business women entrepreneurs are in, they see that there are many changes that need to happen in the specific field. Women entrepreneurs strive to bring those needed and refreshing changes to it. And because of this; women tend to bring a brand new perspective, attitude and skill set toward business like creativity and organizational skills, which often helps make them better entrepreneurs.

Below are 7 reasons why women make better entrepreneurs than men:

Women are more honest.

Let’s be honest (ha); women are not afraid to open up and talk about their fears or sharing their failings because they have a less ego attached to the success or failure of the business. Women typically rather address issues firsthand than ignore them. In short, women are more open and honest about what is going-on and that makes it easier for others to help.

Women are not afraid to ask for help.

Women entrepreneurs are not afraid to ask others for help and constantly ask questions when they need it. As a result, this helps to prevent numerous problems from occurring because help was asked for. Getting help from others not only gets the job done right but also allows entrepreneurs to grow and learn more.

Women possess strong communication skills and social intelligence.

Women show more empathy, which allows them to form and make more connections with those surrounding them in their work. While most men are working only for the financial aspect, quite a few women work to take pride in helping others as well. Because of this, many women entrepreneurs have the ability to create long lasting relationships in their business.

Women are perfectionists.

Women entrepreneurs make sure the job is done right. They believe taking their time is way better than rushing to get it done – this allows them to produce much high-quality results.

Women value relationships and well-being more than business.

Unlike men, wealth is not their primary focus. Women entrepreneurs will always put the health and wellbeing of their spouse and family as their main priority. If they have to choose between the business and the family, the family always wins. Men typically prioritizes business first then health and wellbeing in order to support the family down the line. Many times, because of this, by the time the business is financially successful the family may have moved on because they were not a priority.

Women are great multitaskers and are very organized.

Naturally, women can handle more than one task at a time, while still keeping organized. Because of this, many women entrepreneurs can work on various areas of the job at once without any trouble.

Women possess creativity.

Women have creative minds – they often think outside of the box to create things that will help to provide better services and make unique products.

Author: Usman Raza is freelance writer, marketing specialist at SnoringAids and co-founder of Christian Marketing Experts. When not working, he’s probably spending time with his family. Follow him on Facebook @usmanraza40 and Twitter @usmanintrotech

The word “entrepreneur” has become somewhat of a blanket term for anyone that makes an independent foray into the business world. From people who start multi-million dollar companies to people selling products on Etsy to make a few extra bucks every month, if you make money for yourself, you’re considered an entrepreneur.

But if you want to be a serious entrepreneur—aka, one who makes a living out of your entrepreneurial endeavors—then before you begin that business you’ve been dreaming of, consider starting out as a consultant. Why? Here are just a few reasons, from one of the most successful consultants in the business today, Sam Ovens.

It’s Cheap and Easy to Begin

The limiting factor in starting a lot of new businesses is the start-up cost. Getting a loan for a new business is nigh impossible, and most people don’t have the finances to self-fund a new business. But starting a consulting firm is quick and inexpensive. Finding your first client and providing them with the services they need costs you next to nothing. With just a computer and a phone, you can be in business. And because the overhead is virtually nonexistent, you can use the funds from your growing consulting business to begin other entrepreneurial endeavors.

You Learn about Cash Flow

Consulting gives you an opportunity to learn about business cash flow with very minimal risk. Due to those low costs already mentioned, your odds of bankruptcy or serious financial problems in your business are at a minimum. You can learn about managing invoices, setting up payment plans, and monitoring your business’s expenses in a more controlled environment than what other business types provide. Of course, there’s always the potential that your inexperience could cause some serious problems, but that risk is much lower for a small, low-overhead consulting firm.

You Can Master Marketing

In a consulting firm, the product that you’re selling is one you’re very familiar with—you. So you can work on mastering sales and marketing techniques by learning to promote yourself and your skillset. Marketing a consulting firm uses very straightforward and old-fashioned selling techniques, which lets you build on your marketing skills from the ground up. This is invaluable knowledge later on, when you build a more complex marketing team for another business endeavor.

You’ll Learn to Scale Anything

Consulting is a labor-intensive industry, which means that every new client you land is going to require you to put in more time and more work. You can’t mass-produce consulting services on an assembly line, so scaling a consulting firm can be difficult. It will require you to build an extremely organized team with effective leaders, and a strong business model to make it work. But, if you can learn to scale a business like this, then you’ll have no trouble scaling your business endeavors in the future.

It Requires Excellent People Skills

It’s almost impossible to be a successful entrepreneur without good people skills. No matter how fantastic your idea is, if you can’t talk to potential clients or pitch your idea to investors, your business won’t get off the ground. For those that need a little practice with people skills, consulting is a great way to start. You have to work one-on-one with your clients and convince them of your expertise, not to mention the facetime that is required to land a client in the first place. Some people may find it daunting at first, but prolonged exposure as a consultant will make it second nature for you, and your newfound people skills will be a valuable asset in establishing your next business.

Entrepreneurship is not for everyone. But if you’re ready to make your first foray into the business world, consider the advice of Sam Ovens—a multi-millionaire and entrepreneur himself—and start out as a business consultant. It might just be the springboard you need to launch yourself into a remarkably successful career.

Article by Mark Palmer

Many individuals have toyed with the thought of entrepreneurship and starting their own business, some even grapple with whether or not they should pursue a nonprofit business or a for-profit venture. Nonetheless, whichever route they decide to take starting your own business requires five basic skills that every entrepreneur needs today. Whether you’re a new business or you’ve been at it for a while, the following are some areas that you should take to make sure you’re good at, relevant and profitable within your prospective industry. 

1. Communication

As a business owner, one of the main entryways into your organization is through communication. Because most people’s initial means of contacting a businesses is through online research prior to making business decisions, it’s imperative that you effectively communicate with clients, potential clients and other people of interest within your marketplace. Your channels of communication should be clear, well-written content for those searching online for information that is related to your business. You should also have strong verbal communication skills by both phones and by the use of emails. That way you can properly represent your business and increase the chances of taking on more clients.

Additionally, you need to communicate well internally with staff members, independent contractors, and suppliers as well to run your business effectively.

So in essence, reading, writing, speaking, and listening are the core areas of communication that you need to have as a business owner. 

2. Business Development and Strategizing

Although many business owners think about the present and what’s currently going on with their business right now, being able to strategize and set short term and long term goals will allow you to strategically develop steps that lead directly to those goals.

Part of that planning, development and strategizing will also consist of setting up action items, monitoring and dealing with issues such as barriers to entry, identifying your target market, your market segment, and your market niche, determining your pricing as well as checking out the competition. Planning and strategizing is a very important element for making sure your business gets and stays on course. 

3. Accounting and Finance

It’s so important for business owners to have a basic understanding of how accounting and finance work. While accounting has to do with keeping records of financial activity that has already taken place, finance has to do with making sure your business has the funds it needs to function properly.

The best way to track your accounting and finance activities consists of the implementation of either a for-profit or nonprofit accounting systems that allows you to process and evaluate the financial state of your business. This is also important for financial management, recordkeeping and making those important managerial decisions about running your business. 

4. Sales

As a business owner, as busy as you may be, at the end of the day one of the most important aspects of your business is making sure you’re making sales. Although the way a business owner go about generating sales is one of the primary differences between a for-profit and a nonprofit entity, it is still exceptionally important to learn how to generate a steady stream of income for your business. 

5. Marketing and Branding

Marketing and branding are by far one of the most important skills that a business owner can have. It is the lifeblood that is needed to establish yourself as an expert and bring an awareness to your business within your specific industry.

This area has to do with getting good at putting your marketing messages on as many social media platforms and other media distribution outlets as possible. This way you can get the exposure you need to capture the right clients for your business.

To sum up, although you may have learned to get good at effectively delivering the product or service that you offer, enhancing your skills with these five additional areas will help you keep your company relevant and stable as you launch and operate your business.

Article Contributed by Hannah Whittenly

Being a new entrepreneur can be a difficult and time-consuming endeavor. While you might have a great idea and vision for your business, if you lack the credibility and hard-earned trust of your target market, it can be hard to get anywhere. That’s why it’s so important to show potential customers and business partners that you’re serious, trustworthy, and knowledgeable. This is especially true when you’re just starting out and trying to prove yourself to be a competent, successful entrepreneur. Luckily, there are many ways you can get yourself taken more seriously as you start your business.

Have a Great Elevator Pitch

Elevator pitches are a powerful tool. Having a strong 30-second pitch will help potential business investors decide whether or not to put capital into your new business. It will also give potential customers an idea of what to expect from your company. If you want to be taken seriously, you will need to build trust, and having a great pitch will help you achieve that. A clear, well-articulated vision will inspire confidence in your customers and prove to them that you have a solid business plan. Remember to deliver your pitch with a sense of confidence and authority for maximized results.

Create Seamless Branding

One of the most important things you can do for your new business is designing cohesive branding. Your logo, font choices, and color scheme should all represent your business and the message you want to convey. Having consistent branding across your products, advertising, and website copy will make your company seem more professional and trustworthy. Potential customers will see the branding and get a sense not only of your businesses mission and identity, but also of your commitment to excellence. Having seamless branding shows the world that you take pride in your company and are serious about providing customers with superior service. For an idea of what your branding should look like, research other successful businesses in your field.

Distribute Business Collateral

Something that all businesses struggle with when they are just starting out is visibility. As a new entrepreneur, if you want to build your brand and get your business taken seriously, you’ll need to share business collateral far and wide. Advertising pamphlets, event fliers, and business cards are all great ways to get your name out there and find potential customers. For example, you should choose a business card design in Chicago or wherever you may be located that matches the rest of your branding and distribute it to businesses, friends, and new people you meet. You can even give business cards, fliers, or other marketing collateral to family and friends to help distribute further. The more people see your business name out in the community, the more likely they are to trust you and remember your company when they need your services.

Ask for Reviews

If you want people to take you and your business seriously, you’ll need to be knowledgeable, confident, and provide excellent products or services. However, it can be hard for potential patrons to know this about you and your business when you’re first starting out. It can be beneficial to ask your first customers to review your company on online sites like Yelp. Since word of mouth can be a great marketing tool, getting customer reviews can help build your credibility as an entrepreneur. If you’re having trouble getting enough reviews, consider running a testing program, where you offer interested customers free or reduced-priced goods or services in exchange for their honest opinions online.

Being a new entrepreneur comes with no shortage of challenges, not least of which is getting yourself seen as a legitimate business owner. In order to be taken seriously as an aspiring entrepreneur, you’ll need to build confidence and inspire trust in your business. Once your new customers view you as the legitimate entrepreneur you are, your business is sure to take off.