As female entrepreneurship is on the rise, women are climbing into the ranks of being savvy business owners, all due in part to seeing an opportunity. The encouragement by markets and industries ready and willing to seek a woman’s expertise will only continue to grow as more and more women strike out on their own. However, knowing which is the right path and when to leave your day job behind isn’t always so obvious.
Here’s a peek at how women can find their ideal business idea and take control of their careers.
Where To Start
Have you ever considered being a happiness and life purpose expert? Anything’s possible, right? An aspiring entrepreneur should start a business that’s meaningful to them. It’s a rather archaic model to tell a woman to go into a specific field, mainly because it earns more money or helps them gain recognition.
Instead, invest in ideas you’re passionate about and tap into what you’re good at to make yourself feel great while also earning a living. It could start out as a side gig and blossom from there. Or, if you’re already entrenched in a 9-5 job, you could start a small business on the side and go from there. There are no guidelines to the types of companies women should begin, as a woman’s strengths are so diverse that the opportunities are endless.
It’s helpful to start a business you know something about so when you’re ready to launch the business you’re most passionate about, you can consider your limitations. The last thing you want to do is quit a really good job to start a business you actually hate. Try not to let the fantasies of grandeur about running a business get the best of you, as it’s no picnic out there.
A good rule of thumb is to save 20 to 40 percent per paycheck and tuck it away, before you quit your steady job. Do your research, and make certain you understand who your paying customer is prior to announcing an entrepreneurship. You always have to check and ensure your business model makes sense in an industry that’s growing not sinking. Your business needs to be relevant three to five years down the road.
Because technology is always looming front and center, you don’t want the technological advances to take over your business and leave you in the dust. Surround yourself with people who will help you succeed, whether it’s through support of lending a hand in getting your business started.
Remember that being a leader doesn’t mean you have all the answers, and the more open you are to learning from everyone around you, the more you can grow into your role as entrepreneur. It’s okay to ask for help and collaborate with other people.
Love What You Do
Becoming an entrepreneur and building a business from the ground up is challenging no matter how you look at it. However, the end result should boil down to actually loving what you do. Feel encouraged to be strong and work hard at what you love.
Starting and running a business is by no means easy, and there are going to be a lot of hardships and emotional setbacks, but you have to put yourself out there, believe in yourself and your purpose. In other words, just do it.
It’s Okay To Be Afraid
Having the will to try speaks volumes in this day and age. It’s not so much you need to be ready, but you need to overcome your fears. If you succumb to feeling scared about the onset of entrepreneurship, you’ll never pursue your dreams or get the business off the ground.
Being afraid is just part of the big picture. In other words, you have to start your business while you’re scared. Once you master that hurdle, you’ll rise to another level, and that will come with yet another level of fear. You’ll learn and adjust and keep moving forward.
Before you know it, your earnings will begin to tumble in and you’ll be making money doing what you love.
A Few Ideas That Can Help
The following are some innovative ways to dip your toes into entrepreneurship:
Cooking
Is creating meals from scratch a passion of yours? Do you have access to proper cookware that can withstand several dishes on a dime? Launching a cooking business, whether catering or as a gourmet chef, can be a real winner. Think of all the people who love to eat good food, and go from there.
If you know friends who are willing to be your guinea pig for a few demonstrations, that’s a good place to start. Expand your horizons and create dishes that titillate the senses and entice the palate. Or, you could concoct in-home delivery menus that cater to individuals in any setting that suits your fancy. {insert image here}
The key is to use your cooking skills that people want. Traditional cuisines, family style recipes, or simply home-cooked food are always the meals most sought after.
Fashion
If you’re a fashionista who loves to put clothes together and knows how to color coordinate based on skin tone and style, welcome to running a clothing business. Whether you venture into a small boutique or engage in marketing platforms such as Spotify, Instagram, or Facebook, chances are you’re already spreading your brand and messaging. Reach a bigger audience and showcase your designs with online payment gateways that make the entire process so much easier. {insert image here}
Go with an approximate initial investment estimate of between $5,000 and $10,000. Plan for production, space to invent your fashion creations, and get to work designing clothes for people. If you have good customer relation skills, all the better.
Social Media Influencer
Social media has become one of the biggest places to generate brand awareness with millions of eyeballs to be caught every second. Becoming a social media influencer is a great idea for a business with a low investment. Any talent that you are passionate about can help you become an influencer. {insert image here}
Brands associate with influencers who can engage their followers, so reading and keeping up with trending topics will help connect with more people and build larger audiences. The key remains regular creative and value-adding content that you enjoy. A successful influencer takes about one to three years to gain popularity, as a lot is dependent upon the quality of content.
Wrapping Up
The sky’s the limit with women-owned businesses, and this is merely touching the surface. If you like to walk dogs, start a pet-sitting enterprise. If you have a passion for writing, enter the digital content creation space and go to town! If you want to turn your hobby into something grand and glorious, ensure that you’ve done your research, you’ve set aside enough funds to invest in supplies or a workspace, and you absolutely love what you do.
There’s no reason to become an entrepreneur unless you’re comfortable in feeling the initial fear and overcoming the obstacles along the way. The world is your oyster, and it’s time to make a pearl necklace out of a single gemstone.