Mompreneurs, business ladies, women with ambition, or simply those who just have an idea waiting to be realized – you know the many troubles of kick-starting your own business in this modern-day climate. It’s fast-paced, hectic, and very crowded when it comes to competition, so in addition to being original and true to your values, you need to come up with a whole slew of solutions to preempt problems in the first place. While some of them are simply common-sense, others are known only to those who’ve already dipped their toes in the entrepreneurial pond of innovation.
However, if you’re not familiar with the current business eco-system, keep reading to get up to speed and prepare yourself in order to overcome those obstacles with more resolve and knowledge!
Master the art of funding
Women-owned firms tend to have a harder time finding investors due to prejudice, but this doesn’t mean you should EVER give up. On the contrary, when you start hunting for the perfect source of funding, you should widen your net and keep it diverse. From angel investors, bank and independent loans, all the way to crowdfunding platforms, make sure to do your homework and look for various ways in which you can give your business a stable financial backbone. You can even talk to your friends and family and see if they’d be up for pitching in until you start turning a profit.
Get practical with your budget
Once you’ve found the best possible way to fund your business, you need to allocate your budget wisely in order to support optimal growth. For starters, that may mean you need an office space, and to cut costs, you can work in a shared office space instead of committing to a more costly rental contract. On the other hand, you can consider working remotely with the rest of your team.
To add to that, you may need to be on the go very frequently to conduct meetings, presentations, reach out to clients, and work with your partners such as manufacturers or web developers. In that case, finding cheap car hire options can make much more sense for your budget than purchasing a vehicle of your own. You’ll save on maintenance fees, upkeep, and various unforeseen issues that tend to pop up.
One of the most common issues so many business folk face in the early years of their journey is balancing their personal and professional life. That’s a difficult task even with a steady job, let alone when you’re struggling to find clients or deal with a website crisis every week. Who has time to think about cooking or hitting the gym, right?
Still, by investing time in essential self-care, you’ll actually invest in your business, too. You’ll have much more energy every day, fewer sick days ahead, more confidence for those tough negotiations, and better focus to muscle through those difficult tasks.
Find the right teammates
A one-woman operation is an excellent choice as long as you can handle the workload without it affecting your wellbeing. As soon as you notice your life is literally turning into work, you should take a moment to see which tasks you can delegate, and which portions of your business (such as bookkeeping or SEO campaigns) you can outsource to experts.
Whether you want to expand your local team or you’re open for working with freelancers from all over the world, you need to be careful to find people that will match your values and your brand identity. They might be an excellent hire from a professional perspective, but if they don’t have the soft skills you need to keep building your company, then you need to look further.
On that note, much like you need your future employees and business partners to be able to keep up with the market changes and customer needs, you also need to make room for personal growth. In fact, you need to invest in yourself in every way possible as you build your business, so that you can always have an innovative edge with your brand.
No matter how busy your life may get, take some time to develop your own interests, visit conferences, take courses, learn something new, or talk to new people. You’ll transfer all of that knowledge into your business mindset and allow it to utilize your skills in all the best ways!
Claire Hastings is a wanderer and a writer. She writes as long as she can remember, and she is very passionate about fashion, running, other cultures, and her cat.
For as long as I can remember, I have tried to follow the “right” path and take all the “right” steps. I took school (very) seriously. Never got in trouble. Filled my plate with extracurriculars. Everything society tells you is important was important to me. Maybe too important. This led to a lot of accomplishments but concurrently, a life of anxiety and stress…and not necessarily happiness.
I kept myself busy, always going, always moving forward to the next thing – college (4 years), grad school (4 years), then the next logical step, pursuing licensure…another 2 years minimum. Passions of mine like dance and theatre got pushed aside because they weren’t realistic options and the opportunities weren’t there where I grew up in Florida. Plus, I was good at school.
Upon graduating with my M.A., I was offered an incredible full-time job at Rollins College, my alma mater and dream school. No way I could pass that up. Additionally, I was offered part-time work at my counseling supervisor’s private practice where I could begin accumulating hours toward licensure with supervision included. I’d be crazy to pass that up, right? And just like that, my schedule consisted of a 8:30am-5:00pm full-time job, rushing to see clients at the private practice (almost running over Paul McCartney but that’s a story for another time) from 5:30-9:00pm, shower, maybe an hour tops to unwind…and up early for 7:00am boot camp if I wanted to get a workout in.
It was too much. But I had essentially been working like this since birth. Told that hard works pay off. But when? I had a lot going for me but I was not happy and started to question what I was even working toward anymore. Lost site of my end goal. Pushing forward without asking questions had just become second nature. When I finally stopped to breathe and ask the big questions, it dawned on me…life is short. I didn’t want to get stuck. We only have one life to live and I wanted to fully experience mine.
I started thinking about where else it might be exciting to live. Apart from a small stint in London for a semester study abroad in college and that time my family almost moved to Belgium when I was 8, I’d never lived anywhere other than Florida. I didn’t want to live a life with regrets, never knowing what could have been. That sounded much worse to me than any alternative so, I leapt. I gave notice at my jobs, cleared out the apartment I’d lived in for 10 years (including all the awards I’d racked up and thought were so important over the years), packed up my (small) car with whatever I could fit, and drove to NYC, without a place, without a job, without knowing anyone there. And it was the best decision I’ve ever made.
I made the move with a lot of unanswered questions and blanks to fill in (and spoiler alert, though I don’t want to say too much because there’s a whole book on this to come) but it all came together, one day, one step at a time. I’d be lying if I said it was easy. It was probably one of the hardest things I’ve ever done in my life and I experienced all of the stages and emotions but it was worth all of the blood, sweat, and tears. People will think you’re crazy. You will start to think you’re crazy. But don’t let that stop you. Grab ahold of your life strongly with both hands. It’s about more than your job, your house, your car, your possessions. None of it means anything if your quality of life isn’t there. Is something missing? It’s never too late. Sure, it’s scary. I get it. But that’s half the fun. You will figure it out, I promise.
Angela is an actor and influencer in NYC. She graduated with her B.A. in Psychology and her M.A. in Mental Health Counseling from Rollins College in Winter Park, FL. Angela toured the U.S. as bassist and vocalist for alternative rock band SMB Project and is passionate about advocacy and activism. She is a lover of fitness, music, the beach, breakfast, traveling, and thrift store shopping. Follow her on Twitter and Instagram @angelabelcamino
Silvia Woolard is a professional writer at Best EssaysAu and novice entrepreneur from Phoenix, AZ. She mostly writes and works in a field of popular psychology and marketing. You can follow Silvia in her Twitter.
Sabrina Clark is a proud Marist College alum with degrees specializing in public relations, business administration and Spanish. While at Marist, she co-founded the Marist Student Entrepreneur Network to support students with entrepreneurial aspirations. Upon graduation, she accepted a marketing position with a tech startup focused on the home improvement industry where she managed integrated marketing, sales and strategic partnership initiatives. She is excited to now be a part of the BrandYourself team and help sculpt the future of the online reputation management industry.
Alex Quayle currently lives in Boise, Idaho with her partner, cat, and dwarf hamster. She can never say no to coffee, doughnuts, and good conversation. Follow her on Twitter @alexquayle33 for more articles and pictures of her cute, little family.
Judy Robinson is a passionate health and lifestyle blogger. She loves to write on healthy lifestyle, fitness 101 and DIY related topics. Follow @judyrobinson for more updates.