THIS IS AN ARCHIVE POST FROM 2015
A few months ago I wrote a short list on Medium about the advice I would give to female entrepreneurs who are just starting out. I thought it would be worth putting it on my own blog too.
I had already been an entrepreneur for around 15 years, running several different businesses and projects along the way. I had learned quite a few things from starting new ventures, making mistakes, trying different approaches and figuring things out along the way. These are some of the things I think are worth keeping in mind when starting and running a small business.
I’ve added a few more details and ideas here, so this version isn’t exactly the same as the original Medium post. The original is still available there, but I thought it would be useful to have a slightly more complete version on my own blog as well.
Learning
If you look back at an earlier business failure and feel that you could avoid making the same mistakes today, then you are on the right path.
If you think you still wouldn’t be able to prevent the failure, it means you haven’t learned enough from it yet, and the risk of making similar mistakes in your current or future business is still there. Start learning from your mistakes.
Help
Don’t be afraid to ask for help. Talk about your problems with other people and let them help you. As a woman, you can often find someone who is willing to help, whether it’s another entrepreneur, a friend, a colleague or simply someone who has dealt with a similar situation before.
Take the opportunity, but don’t abuse it. You don’t have to figure everything out by yourself.
Failure
Real failure doesn’t really exist. An unsuccessful project, job or task still leaves you with experience, knowledge and connections. You just have to be aware that the real lesson may only become clear after a few years have passed, when you can look back at the experience from a little further away.
Sometimes it is useful to go through your earlier failures and unsuccessful attempts again. You may discover unexpected cause-and-effect relationships that you simply couldn’t see at the time.
Something that seemed like a complete disaster a few years ago can sometimes turn out to have been surprisingly useful.
Goals
Set small goals that can be achieved within a couple of months, as well as big goals that may take years to achieve. Small goals keep the business moving forward. Big goals show you the direction you’re heading in.
You need both. Without the small goals, the big ones can feel impossibly far away. Without the big ones, you can easily lose sight of where you’re actually going.
Network
Don’t be afraid to use the advantages of being a woman, especially if you work in a field dominated by men. You will probably have to face some disadvantages because you’re a woman. Try to turn some of those differences into advantages.
Sometimes simply being different makes you more memorable. Your presence can become a topic of conversation, and that can help people remember you and your work.
Let your peers know your name. Make yourself easy to find.
Networking is especially important when you’re running a small business because you don’t have the resources of a large company. The people you meet can become customers, collaborators, suppliers, sources of advice or simply people who recommend you to someone else.
New areas
Should you venture into a field that you know nothing about?
Ask yourself: can you learn the basics in three days? If not, drop the project.
Of course, there are exceptions. Sometimes learning something completely new is exactly the point of a project. But when you’re running a small business, your time and energy are limited. You can’t become an expert in every possible field, so you have to choose where to invest your effort.
Money
Don’t be afraid to start a business without a lot of money. Real innovations are often born from a lack of resources because you have to find the easiest and quickest solution to a problem. When you don’t have money to throw at a problem, you have to think differently.
That doesn’t mean money isn’t useful. Obviously, having enough money can make many things easier. But don’t automatically assume that you need a huge budget before you can start something. Sometimes limitations force you to be more creative.
Expectations
Your expectations should be determined by you, not by your business partner, your circumstances or other people’s ideas about what your business should be.
If you’re afraid that you cannot meet the expectations, remember that those expectations were created by you in the first place. You are allowed to change them.
It’s very easy to compare yourself to other entrepreneurs and feel that you’re falling behind. But someone else’s definition of success doesn’t have to become yours.
Success
Success comes in two forms: there is success as defined by other people, and there is success as defined by you. You might not feel successful yet, while other people already consider you successful.
The inner drive to succeed is a good thing. It can motivate you and push you forward. But don’t let it overwhelm you. The same ambition that helps you move forward can easily become a source of frustration if you never feel that you’ve achieved enough.
Sometimes you need to stop for a moment and recognize what you have already accomplished.
Opportunities
Looking back, you will probably see lots of missed opportunities. Don’t let them upset you. It’s part of how businesses work. You can’t recognise every opportunity when it appears, and even if you do, you can’t pursue all of them.
Some opportunities will pass you by because you’re too busy, some because you’re not ready, and some simply because you make the wrong decision. That’s okay. There will always be another opportunity. The important thing is to keep your eyes open for it.
Here is the original on medium.com
Other Articles
