Women Entrepreneurs are thriving as business owners and leaders in 2020. According to the National Association of Women Business Owners, there are more than 12.3 million women business owners up from only 402,000 in 1972.
— Women contribute $1.8 Trillion to the economy each year. In 2019, 1,821 new businesses were started by women each day. With nearly 40% of all businesses started and operated by women, it’s vital to have solid advice to inspiration, motivation, and success. Five women business leaders stepped up and offered their advice to help women become successful.
Three Success Traits
Business leaders Tami Crea and Abigail Tiefenthaler, co-founders of Launches Made Simple in St. Bonifacius, Minnesota, have noticed that successful women have three traits that make them stand out from the competition in business.
“Women, now more than ever, have the opportunity to be power players in the business world. In our experience, women who are reaching a certain level of success possess these three traits. Number one, they think big. They are bold in their vision and quickly put a plan of action into place to make that vision a reality,” said Tami Crea.
“Number two, they value leverage,” said Abigail Tiefenthaller.
“They are strategic and understand how to build, using their time, money, and energy to get their business to a position to outsource as quickly as possible.”
Crea added, "Number three, they persevere. There is no Plan B. In place of adversity, they commit and stay on track to their original vision.”
“Launches Made Simple is passionate about working with women coaches and consultants who are committed to this type of business building,” the duo concluded.
“And, when they possess these traits, we know they are one step closer to success.”
Do What You Love and Take Action
Suzanne Ascioti, Business Success Mindset, Palm Harbor, Florida, follows the adage to be successful do what you love.
She says, “I created a business doing what I love, working with and motivating physicians and others in major hospitals.
She suggests to all women entrepreneurs to: “Find a purpose and lifestyle that inspires you. Working on a weekend completing a report or to communicate with a customer might not be ideal, but if meeting and exceeding your customer’s expectations brings you joy, it’s well worth the time.”
Suzanne is all about action. “Act first,” Suzanne said.
“ It's a mistake to wait for motivation to strike you. You might find yourself waiting a long time, juggling business ideas before you find the “right” one. Avoid thinking too much about the work to be done. If you wait too long to get started, procrastination becomes more likely. Before you can stop yourself, start. You'll find that motivation is easier to experience after action.
Fail your way to success. “Unless you know exactly what you would like to do and have the financial backing, start small,” she said.
“Believe for the best and prepare for anything. Do not invest more than you can afford to lose. I had numerous business failures and became successful when my business was based primarily on my knowledge base with minimal overhead.”
You Can Handle It
Often women business leaders juggle work and family and feel pressure to be perfect and feel like failures when they can’t achieve the myth of life balance, or they hit an obstacle.
MagnaWave CEO Alane Paulley, Louisville, Kentucky, said, “Always believe in yourself, sometimes even your family and friends will doubt what you can do and what you can ‘handle’.”
“As women, we are often told that we do ‘too much’,” Paully added.
“Only you know your limits, don't ever let anyone else set them for you. You may never have it all, but that is OK.” she said.
“One day I realized that I can't be the perfect mother, wife, daughter and sister, and business owner. Sometimes relationships bend a bit to make your dreams come true and that is OK no one is perfect!”
Leaders Eat Last, Take Chances
Lori Lyons, Igniting Your Business, Marietta, Georgia, suggests that leaders adjust and take chances
“Leaders aren’t afraid to take chances,” said Lori Lyons.
Recently the buzz word was “pivot.” Leaders don’t pivot - they swivel.
“We are constantly tweaking and adjusting - our businesses, our people, our goals, our relationships. As leaders, we do what’s best for the whole, not just us and not just individuals. Sometimes that can involve hard choices.”
Good leaders respect and emphasize the process. When someone has a good process, it’s like muscle memory. “Don’t sweat the small stuff. Process can be anything from working with business partners down to where to file emails. Good process is just… well… part of the process.’
“Leaders lead by example and having a great process is just a way to show others what is important. Leaders do eat last. Simon Sinek was right — leaders put themselves last. “It drives me crazy when I see “leaders” take over. True leaders allow others to shine and grow — they speak last, they “eat last.” Leadership can even be something as simple as allowing others to talk first. Leadership and authority are very different and today, I see so many women confuse this. True leaders look at the whole, not the individual piece. True leaders practice leadership at all times.”
The Power of No
There is no one thing that can guarantee success. In the day-to-day business operations and balancing other obligations that lead to success, Magnawave’s Alane Paulley summed it up. “‘No’ is the second-best answer you can get in business. “At least then you know where you stand and how to move forward.”
Video URL: https://www.youtube.com/watch?v=hCt0q4C5qx8
Release ID: 88969723