Women are the fastest growing segment when it comes to entrepreneurship. There are 12.3 million women owned businesses in the country and those businesses account for $1.8 trillion dollars each year. Since it is Women’s Small Business Month I want to share a few tips and strategies for female entrepreneurs that can help them start a business as well as grow it.

Make Up Your Mind:

Many women say they are entrepreneurs, but it really is a side hustle that they make money doing while still having a full time job. If you want to take your business full-time then you need to make up your mind to do so.

To get into full entrepreneur mode mentally start introducing yourself as a business owner. Do this even when you are still working for someone else. It will start to get you used to your future life as a business owner. It will also help you land potential clients for your business.

In addition to making up your mind you need to put yourself in a financial position to pursue that business full-time. You do that by paying off as much debt as possible and building your business to a point that your profits almost could replace your current salary.

Shout It Out To The World:

‘If you build it they will come” does not work in entrepreneurship. If you have a business you must make sure that everyone knows about it! Never be shy about marketing and branding your business online and offline. There could be someone in Australia that wants to buy your product or use your service. You leave money on the table when you don’t promote your business daily. 

As long as you are in business you should be sharing your products and services with people that are not aware you exist. Some people tell me they don’t market as much because they don’t want people to get irritated by it. The people who get irritated are not your customers.

Save For Rainy Days:

This tip is important for female business owners that still have full-time jobs and those who already are entrepreneurs full-time! There are going to be financial emergencies that come up in your life that if you are not prepared for them could cause you to go out of business or worse, hurt you personally.

In order to avoid all of that I suggest that women small business owners have at least a year’s worth of expenses saved. If your monthly expenses are $3000 then that means you should have $36,000 saved. This will make running a business a lot easier. It will also put you in a position where you get to choose your customers and work with those that make your business enjoyable.

Entrepreneurship is not easy, but if you go about it the right way it can be extremely rewarding!

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