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7 lessons and tips from successful women business owners

Successful women business owners have paved the way for aspiring entrepreneurs by demonstrating leadership, resilience, and innovation.

To embark on a successful entrepreneurial journey, learning from the best can make all the difference.

As we celebrate Women’s Month, it is only fitting to shine a spotlight on the invaluable lessons and tips shared by successful women business owners, executives, and entrepreneurs.

Their wisdom and experiences offer inspiration and guidance to aspiring women entrepreneurs aiming to make their mark in the business world. Here are seven essential insights to empower and propel your path to success:

1. Identify your purpose

According to Christina Sjahli, owner of Christina Sjahli Consulting, finding your clear sense of purpose is essential for entrepreneurial success. Identifying your “big why” enables you to focus on what truly matters and navigate through challenging moments with determination.

Reflect on why you started your business, what excites you, and whom you aim to serve. By narrowing your focus and defining your mission, you align your efforts with a clear purpose, resulting in greater resilience and success.

2. Embrace the opportunity to grow

Ginni Rometty, the former CEO of IBM, emphasised the significance of embracing growth by taking on new challenges and stepping outside your comfort zone. To thrive in the business world, you must be willing to take risks and continuously seek opportunities for development.

Embrace challenging projects, try new things, and dedicate time and resources to company growth projects. Embracing growth can lead to skill development, effective problem-solving, and accelerated goal achievement.

3. Be tenacious

Dealing with setbacks and obstacles is inevitable in business. Candice Carpenter Olson, former co-CEO of Fullbridge, stressed the importance of tenacity to overcome hardships and gain respect in the industry.

Develop resilience to face challenges unique to women entrepreneurs, such as gender biases and pay inequity. Stay committed to your vision, stay motivated, and remember that every setback is an opportunity for growth and learning.

4. Connect with others

Building a supportive network of fellow entrepreneurs and professionals in your field can significantly impact your business’s success. Engage with organisations aligned with your purpose, actively participate, and provide your insights and values. Strong partnerships and collaborations with other businesses can also elevate your company to new heights.

5. Adopt a learning attitude

Padmasree Warrior, founder, president, and CEO at Fable, emphasised that the ability to learn is crucial for leadership.

Prioritise learning, stay curious, and continuously seek new ideas and perspectives. Regularly update yourself on industry trends and customer needs. Aim to be 1% better every day, taking small steps forward towards your long-term goals.

6. Ask for help

Claire Wasserman, CEO and founder of Ladies Get Paid, highlighted the significance of seeking help and cultivating a support network.

Don’t hesitate to ask for advice from successful business owners and hire capable team members. Recognise your strengths and bring in others to complement your weaknesses, fostering a dynamic team that contributes to your company’s growth.

7. Invest in financial knowledge

Understanding your business’s financials is fundamental to its sustainability and profitability. Take an active interest in your company’s finances, track cash flow, and set financial targets. Consider hiring a business accountant for expert financial guidance.

As Women’s Month celebrates the achievements and contributions of women, it also presents an opportunity to learn from the wisdom of successful women business owners.

Embrace these lessons and tips to cultivate resilience, innovation, and purpose in your entrepreneurial journey. Whether you’re an aspiring entrepreneur or a seasoned business owner, these insights serve as a guiding light to build a thriving and impactful business.

The journey may be challenging, but with the inspiration of these trailblazing women, the possibilities for success are limitless.

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