You never want to miss an opportunity to get advice from someone who is doing what you hope to do. If you were stuck in an elevator with a successful female entrepreneur, what would you ask her? Don’t worry, Lioness has your back. We asked some of today’s brightest female entrepreneurs, “if you could give three tips to another female entrepreneur, what would it be?”
Here’s what they said every female entrepreneur should know:
Christie Cook, founder of Avery Verse Bag Co in Sydney, Australia
- Do a lot of research about your industry and product before starting up but don’t be dictated by research. The cold hard facts should guide your decisions to an extent, not turn you off business altogether or cause you to lose your passion for your work. When reading about other entrepreneurs there tend to be two camps; the overly optimistic, ‘you can’t fail’ camp and the pessimistic, ‘why try?’ tribe. Neither is a complete picture. Expect both highs and lows, stress and success when starting a new business. Success in business isn’t an event, it’s a process and a journey.
- Be patient. Almost everything will take longer than you initially thought; manufacturing, web design, shipping, advertising…not everyone has the same definition of ‘deadline’ as the business owner. Manufacturers can have delays with orders due to things beyond their control too for example; public holidays and natural disasters.
- Be prepared for expansion right from the start and keep working on building brand awareness. It’s easier to set systems up from the start rather than stopping something that’s in motion to re-organize. Know from the beginning where you are going; what’s your manufacturer’s upper limit with production? Can you realistically handle large orders? Really look at the logistics of expansion so you’re not caught off guard when you take-off.
Quianna Thompson, founder of Qakestry Catering in
- Well, one for sure would be to just go for it! I had the idea about starting my own company for a while but nothing ever happened until I actually went for it.
- The second thing I would say is to hang in there. Everyday won’t be easy but you have to stick with it and keep going.
- Last but not least, make sure you don’t let the naysayers get underneath your skin. Not everyone is as positive as you may need him or her to be or would like him or her to be.
Julia Wackenheim-Gimple , executive producer in Los Angeles
- Believe in yourself. No one else is gonna.
- It’s OK to quit. I had a cushy day job but it was killing my soul. I quit and have never been happier.
- Coffee. Or whatever your “coffee” is, drink that.
Farah Allen, CEO of Song Society App in Atlanta, GA
- You are right most of the time: There is no real science to being an entrepreneur other than acquiring skill sets that push you to make better decisions. Trust your instincts/knowledge it’s the only thing that will move your forward.
- Continually test your assumptions: Because something is true 10 times in a row does not make it true all the time. Not all problems have the same root cause. Use the 5 why method whenever you are faced with a problem.
- Deliberate practice: I learned this term while reading Malcolm’s Gladwell’s book called “Outliers.” Studies have shown that “expert-level performance is primarily the result of expert-level practice NOT due to innate talent.” If you like being an entrepreneur practice and grow your skills.
Jashoda Madhavji, founder of
Dream N Hustle Media in Bombay, India
- If you can dream it you can achieve it. Never give up on your dreams and compromise shouldn’t remotely be an option. The word impossible doesn’t exist in the dictionary of a winner. I’m a huge believer in ‘what you ask for the universe gifts’ and if you will it, it shall be given.
- Always do some social service along the way. Remember there were times when you needed the aid and someone helped you in good faith, so always remember to inspire and help others in their path to success even if it means letting go of your hefty consultation fees. I call it good karma and empowering others to be self starters.
- Challenges are opportunities in disguise. Don’t escape the problem embrace it and enhance your learning by finding solutions. If you think you can’t do it, challenge yourself and believe that there is magic inside all of us. Always be grateful, positive and humble as nothing compares to good hearted human being. Period.
Kristin Wald, founder of
Cotidea in Los Angeles
- Know your ‘why.’ Why are you building this business? What is your greater purpose?
- It’s going to be hard and doubt will be knocking at your door every step of the way. Listen to the doubt, thank if for joining you and then ask it to leave. You’ve got work to do.
- Incredible breakthroughs come at unexpected moments. Don’t give up five minutes before the miracle. But also, don’t hold anything as precious – be willing to let go of your idea or your ‘perfect’ way of doing something to allow for greater opportunity and inspiration to appear.
Terri S. Alpert, founder of Uno Alla Volta in North Branford, Conn.
- To achieve your vision, surround yourself only with those who share your values.
- Dream aggressively, while executing conservatively.
- Determine the right metrics and goal posts.
Benét J. Wilson, owner of
Aviation Queen LLC in Baltimore, Md.
- One, pay for a good accountant.
- Two, barter with other entrepreneurs for skills.
- Three, have an emergency fund for tight times.