Entrepreneurship has no singular recipe for success. You need to persevere and even experiment – combine the right ingredients, plan the timing. Build. Market. Network. Promote.
Our Business Speak series of Articles, bring to you, insights shared by different women Entrepreneurs. From business experiences and skill sets to success tips, find out how you can make your business better.
What contributes to Business Success?
Entrepreneurs define their business wins in different ways, but a key theme is identifying a right niche. You can pick a crowded market and lay siege to it with a better product or solution. But that often takes deep pockets and a chunk of time.
Small entrepreneurs follow a different footprint – build an enterprise around fulfilling a need that’s still open, be in terms of selling to a specific audience, operating in a particular geography or redefining the product itself.
Outlined below are 7 characteristics for making your business click, as shared by Women Entrepreneurs from different industries.
“ I think that just taking a leap and starting a business is a success in itself ! Even just saying that I had a business felt like a big risk at the time. As years have passed, I would define my success around my increased sales and my solid and long-term relationships with my customers. There are many external contributors to my success, but word of mouth and recommendations have been a valuable component.”
Laurie Tieman, Owner, Arrt Promotions
Feed a Niche
“I started as a solo-preneur about a year ago, and now we have 3 other Coaches, plus two folks that do the back-end work. We see ourselves building an Army of Salary Coaches in order to close the gender wage gap. Timing is impeccable- gender inequality is a hot topic right now, and we don’t have any competition.”
Olivia Jaras, Founder, Salary Coaching for Women
“I see myself as successful because we are providing jobs for marketing and analytics people who left the corporate world mostly because they were displaced or needed a flexible work arrangement. These are extremely efficient senior level people. We found this niche when many of our female peers left their jobs because they had childcare or eldercare issues. We have a virtual model where our employees work from home or from our client’s site.”
Sandi Webster, Principal, Consultants 2 Go
“ Success means different things to different people. But for me, success is when I am able to provide nuggets to my clients. I deliver insights to help them develop different actions, to get their business to the next level. When my clients are able to relate to their business differently and execute their strategy to reach their vision, that is success.”
Simone Sloan, Founder, MBY Professional Coach LLC
Skills Count. Location too.
“ I believe that 2 things have helped me in my Reiki/ meditation practice:
1. My talent and experience – getting my certifications and regular practice.
2. Location – This business is a hyper local business, it helps that there are not many Reiki practitioners or Meditation coaches around.
Nidhi Idnani, Owner, iReikiNow
“ This first year has been hard. You build it but that doesn’t mean people will come. Marketing is extremely important and you don’t know what you don’t know so you really have to spend money wisely. I’ve made a lot of mistakes but I feel I am finally moving in the right direction.”
Earline Marshall, President & CEO, Marshall Management Group
“We are still in the start-up phase of this venture but yes, I do see it as successful so far. We are making a profit each month, although not enough to sustain a family of 5, but a little revenue is better than running in the red. I see our success because I recognized a need in the marketplace and it’s a clever niche I think few can fill.”
Camille Miller, Founder & Executive Director, The Natural Life Business Partnership
“I feel there is no competition. I am unique. I compete against myself. I have been successful in negotiating deals, making new relationships, developing several income streams and building a solid foundation in business. I believe my niche is that I am consistent and creative in my branding strategies.”
Dr. Syleecia Thompson, DYG Management Group
“A major contributor to my success is my amazing leadership team and employees. They are extremely hardworking and our consultant team delivers flawlessly to maintain Consultants 2 Go’s reputation.
The Economy, Market forces & government regulations are critical to our business. When there are layoffs, we put those people back to work with us in corporations. Competition is high and Many individuals become a consultant after they leave the corporate world because the barriers to entry is low. So, we have to be better, faster, and hire smart or clients will move to the next company.”
Sandi Webster, Principal, Consultants 2 Go
In the final analysis, even though there is no magic formula to grow and succeed at building a business, ambitious Entrepreneurs create their own potions by always innovating, often experimenting and frequently drawing on their experiences.
We thank all the savvy women entrepreneurs for sharing their business insights with our readers. If you’ d like more information on our Business Speaks Articles or want to be a part of one, reach out to us here.
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