Whether you’re just starting out in business, or have already established your brand, and business is booming (or maybe business is struggling), it’s always a good idea to take a look at your own strengths and weaknesses to identify areas you can work on improving. Think of it as filling out your own annual performance review.
The following list of traits looks at what all successful business women have, and will ensure you and your business are set up for long term success.
So regardless of your chosen niche, be it making jewellery, candles, clothes, or consulting, providing a service or blogging, doing a self-review on your own behaviours will potentially determine areas you can work on. With the flow on effect improving your overall business.
Without further ado here are 7 proven traits to be a successful business woman.
An oldie but a goody – Love what you do!
We’ve all seen the meme’s and the inspirational posts, and we see them so often because it rings true on many levels, “Love what you do and you will never work a day in your life.”
If you are passionate about your business, you will inherently be invested in it on an emotional level and enjoy every challenge being in business brings. From the funky stuff of marketing and networking, to the not so glamourous tax returns, BAS and IT, all should be faced head on with a smile and a burning desire to succeed in something you love.
If you find yourself getting up and dreading the day ahead frequently, then maybe what you initially set out to achieve isn’t heading in the right direction! Which brings us to our next point…………………!
Planning and Goal setting!
You have a fabulous idea, or you have laid the foundation of your business down and are already up and trading. But have you set some long term goals and broken these down into smaller achievable stages?
Your business needs direction; otherwise you might be chasing your tail and going around in circles. By having a strategy, including goals to work towards, your business will have direction and you will have a purpose to work towards every day, which will motivate you to go out and achieve it.
If you think you might need help in this area please feel free to contact me at firstname.lastname@example.org, and I’d be more than happy to point you in the right direction.
Be serious and stay focused!
For some of us, this might actually be the hardest, and I know I struggle with this attribute the most. With so many balls in the air, including family life, earning an income from other sources (especially if you are just starting out in a new business, you may have a couple of jobs), looking after yourself, staying in touch with friends and family, and keeping on top of the house, staying focused on making a dream a reality can sometimes be put on the back burner.
But if your business is to succeed you need to be serious about it! Don’t become distracted or lose motivation; don’t let self-doubt or scepticism creep in. You are a business owner, director, CEO, Boss, Leader, so take your role seriously, and others will also take you seriously with your business reaping the rewards.
Stay focused on your goals, talk the talk! And actively put into action what you are talking about. Your business will get traction and you will be rewarded by the hard work you put in.
Admit when you need help!
We try to do it all, but honestly we can’t be experts in everything. Know your strengths and admit your weaknesses, and where you have a weakness ask for help by someone who does know what they are doing.
The thought process behind trying to do it all could be because you want to save money. But if you are focusing and spending time on something that is not where your strengths are, and then you make errors, this will potentially be more costly in the long run. You may have lost time (opportunity cost) in applying your skills where your business needs them most, and then have to engage someone to help you out, if you didn’t resolve the problem correctly in the first place. If you go straight to an expert when a problem is encountered, a lot of time could be saved and potential rework avoided.
And when you do decide you need help make sure you are asking for the right kind of help, leading me to my next point!
Treat men as equals and engage their help!
In a world of constant reminders about the feminist movement, equality, and women empowerment, we need to be careful not to create a scenario of reverse sexism.
Yes there are predatory arseholes out there, and macho egotistical sexist males exist. But from my experiences in business and in life, a majority of men actually want to see women achieve high levels of success.
If you find someone you admire, regardless of whether they are a man or a woman, align yourself with them and learn from their experience. Especially if they are willing to help you grow, listen to you and help you succeed. If you find the right man don’t be afraid to lean on him for advice and learnings, as much as you would a female counterpart. In the end, your business is the one that will benefit from an all inclusive approach, and a man’s take on ideas might just be what you need to get refocused in the right direction.
Successfully manage money!
Being able to successfully manage money is a pretty important attribute to have in order to make your business a success!
Poor cash-flow is a main reason 50% of small businesses fail within the first 3 years of starting up, so it’s imperative you get this right. If managing money is not your strength (see my point above) admit it, and engage someone that can help you out.
Set a budget, including all your expected cash-flows in and more importantly know what your expenditure going out will be. Making sure you have the cash to cover these expenses when they arise. Being able to meet your financial obligations will ensure your business stays afloat. And this is particularly important depending on how you financed your business. If you can’t meet your bank repayments or investor loans as required, because the cash you have isn’t being allocated correctly or coming in as expected, it won’t take long for your business to be on shaky ground.
Fearlessly self promote!
As women, we aren’t great at self-promotion, it makes us feel uncomfortable and we may feel we will be judged as obnoxious or self-centred. This discomfort is actually caused by generational gender stereotyping and you can read about this here.
However, with the help of social media I think, as women, we are gradually overcoming this discomfort.
You can be an amazing self-promoter without being obnoxious; you just need to let your business speak for itself. If you believe in your product/service and are dedicated to its success, the focus isn’t about “Hey everyone look at me”; it’s more about telling the world “Look at what I can do for you!” Remember you are offering the world a unique opportunity within the goods or services that your business offers.
You just have to let the world know about it!
Check out how The Wealthy Affiliate can help you succeed here! It will be worth the read!
Do you have all the attributes it takes to be a successful business woman? Do you know where your strengths and weaknesses lie? Please feel free to leave a comment below.
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