With more opportunities, easier access to capital, and shifting gender roles in society, an increasing number of women are turning their exceptional business ideas into reality. Needless to say, the golden age of female entrepreneurs has begun.
How can we forget the founders of VLCC, Vandana Luthra, and Nykaa, Falguni Nayar, when discussing women entrepreneurs? These women raise the bar for women’s business to new heights, and we can all learn from them. Many women started their small businesses with their milestones in mind.
To help women in business get started on their ventures, I asked female business leaders this question for their insights. From connecting with other female entrepreneurs to getting access to capital, there are several tips from businesswomen to get a small business started.
Since I owned a relatively profitable small business, I’ve documented my learning and journey of things I wish I knew before starting my own. Here are 13 pointers to help female entrepreneurs start their own businesses:
1. Have confidence in yourself and your business
The most important weapon in your arsenal as a woman starting a business should be your confidence. If you believe you can do it, you’re almost there. Entrepreneurship does not have a set structure and resembles a staircase.
It is critical to maintain your faith and recognize that the difficult road ahead is worthwhile because the world requires your contribution. As women, we can contribute to the development of an innovative business landscape that is diverse, tolerant, and seeks to benefit the world.
2. Get access to capital
Obtaining capital has never been simpler, particularly for female entrepreneurs. The government has been very supportive and has attempted to attract a large number of female entrepreneurs. Because capital is one of the most important aspects of starting a business, they’ve devised a number of programmes to enable women entrepreneurs to obtain business loans with low interest rates and no collateral for up to one crore. You can look into Sidbi; they have a variety of loans for all types of businesses and their needs.
3. Start before you’re ready
Beware, perfectionists! Starting a small business is difficult. There will always be a portion of it for which you are unprepared. There will always be an excuse to delay. Don’t do it. Begin before you’re prepared. You’ll learn as you go, and if you need assistance, ask for it. People want to assist you when you are undertaking a difficult task, such as starting a business!
4. Get your brand in front of your audience
Find ways to get your brand in front of your target audience. Offering free samples is one way to draw attention to your products. Distribute products at local events where your target audience will be present. Form alliances with well-known influencers who know your target audience and can lend credibility to your products. Using samples to spread the word about your business will kickstart your entrepreneurial journey and put you on the path to business success.
5. Be firm
It can be difficult for a woman in business to break into certain industries. However, as any woman knows, tenacity is in our genes. We can use that asset to ensure that we don’t accept ‘no,’ and that we go back to the drawing board as many times as necessary. This drive not only propels us to success, but it also sets a great example for the rest of the team, where you’ll find a lot of creativity and productivity.
So, what are you waiting for, ladies? Start that business you’ve been waiting to start for a while now but didn’t have the motivation to get started. Reading this blog itself is a step that you have taken for your business. Begin with baby steps, but don’t stop moving! You can conquer the world and the sky is your limit.