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Top Tips for Women Setting up in Business

Written by: Helen Dowling

Article Overview: Interesting facts and tips for Women Setting up their own business

Top Tips for Women Setting up in Business

So you’re a woman who wants to set up your own business?
What do you need to know? Where do you start and who can help you?
Here, Exceptional Thinking gives you ten top tips to starting out.






· If women started up new businesses at the same rate as men, we would have more than 100,000 extra new businesses each year

· 54% of women start a business so they can choose what hours they work, compared with only 35% of men. This means that the working day can be structured around home and family commitments

· It is essential to have a thorough understanding of the market your business will enter. You can never do enough research.

· The importance of acquiring support from friends and family cannot be underestimated. This support can come in a wide range of ‘guises from contacts to childcare. Don’t be afraid to ask!

· Be ambitious - don't be afraid to take risks now and then.

· Research shows that many potential female entrepreneurs fail to overcome the ‘fear factor’ and transform their business ideas into reality. Overcome this by starting a business in an area you're interested in. You're more likely to make a success of it.

· If you’re starting a business the amount you may need to borrow upfront could be a lot smaller than you think. Investigate all the possibilities and don’t be afraid to negotiate.

· Think about what you actually want to achieve and define your objectives clearly. Ensure you target the right people in the right way to maximise results. It is imperative to focus on your customers and really assess their needs in order to ensure that your product or service satisfies their requirements.

· You’ll need to utilise all your skills in order to succeed – commitment, motivation, emotional resilience, stress management and time management

· You also need to make sure that you get out and mix with people. It is worth joining a professional group you connect with, even if it is only to learn that there are others who have been through what you're going through and identify with how you're feeling. In itself this can be a great source of help and support when starting out.

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A ton of Great Women - You might want to profile Teresa Cascioli of LakePort Brewery. She has an amazing story! I met her at at the celebratory luncheon for the Profit/Chatelaine Top 100 Women Business Owners. The Top 100 list is also a great resource for inspirational stories of Women Entrepreneurs.
Business Tips - How about: Tips for managers to handle employees more effectively? Tips on how to deal with difficult customers? Tips on how to deal more effectively with suppliers? The only three I have in mind right now, but will try to come up with something else. Chris
New Study - Women prepare better business plans - I found an article in Business Week and I found this quite interesting. [quote:ka7lg35i]Who Prepares Better Business Plans, Men or Women? A new study based on four years of data from men and women in a training program for microenterprises finds that they come out the same in quality scores. "However, women scored significantly better on the presentation of their plan to judges," conclude the study's authors, Ronald G. Cook, Paul Belliveau, and Christine Lentz of Rider University, in a paper presented at a recent meeting of the Small Business Institute. [/quote:ka7lg35i] What do you guys think?
My entry - 1. The Best Business Books Ever: The 100 Most Influential Business Books You'll Never Have Time to Read - this is a fascinating book about the history of Business theory, and I'd recommend it to anybody. 2. The Big Book of Small Business: You Don't Have to Run Your Business by the Seat of Your Pants, by Tom Gegax. Ditto. 3. PADI: The Business of Diving Book Okay, so this book won't be of use to anyone who doesn't want to start a scuba store, but I did, and this book was of course invaluable to me in reaching that goal.
Re: History of Women in Business in the United States - Yes. Women have increasingly made positive economic contributions to society and their position is being recognized more and more as seen on the Forbes List of Executive Women. In general, women can be a bit more practical in their approach as entrepreneurs too.


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