Thousands of small businesses are launched every year in the UK. The business industry is highly competitive, and it is becoming increasingly difficult for new entrepreneurs to succeed. However, it’s no secret that female entrepreneurs have it particularly tough in the business industry. Some of the most successful women today are still navigating the challenges of the industry.
Sophia Amoroso, former CEO of the fashion brand Nasty Gal, discussed the challenges of the business industry in The New York Times Bestseller, #GIRLBOSS. Sophia built a multimillion-dollar empire with no fashion or business experience. She advises female entrepreneurs never to take anything personally. She said: “The people who told me no, we’re the people who eventually told me yes.”
Here are a few things to consider if you are a woman starting out in the business industry.
Find an idea
If you want to succeed as a woman in business, you need a thick skin and a persistent attitude. But most importantly – you need an outstanding idea and the resources to back it up. Find a sector that you are passionate about or have some experience within. For example, if you used to be a hairstylist – you could set up your own salon. You would already have the knowledge about equipment, such as hair cutting scissors and the contacts to succeed.
Once you have a rough idea of the sector you want to enter, you need an idea. Consider the skills, resources, and funding you have while you are brainstorming ideas. Remember, you need to be realistic as well as creative and innovative.
Funding is a huge part of business. You need to decide whether you need to stay in your full-time job alongside launching the business. Or perhaps you have enough savings to support yourself for a few months while the business gets off the ground.
Alternatively, you could launch your business and work as a freelancer alongside it for additional funding. Start a freelance business if you are highly skilled in writing, graphic design, coding, or another sought-after service. You can work flexibly, pick your hours and have enough time to build an entire business.
You need allies and friends in the business industry. Join online industry events to learn about recent innovations, product launches and marketing strategies. You can use these events for inspiration or learn how the industry works. Attend a few in-person events when they open back up again as well.
Keep an open mind, and make the most out of every opportunity that comes your way.