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Top 10 Tips for Women Starting a Business

Launching and growing a business takes hard work and perseverance. For woman business owners there is also the lure of flexibility and the opportunity to spend lots of quality time with your kids. Make sure you go in knowing some of the realities.

Top 10 Tips for Women Starting a Business

  1. 1. for women starting a business!Women Business Owners Today Copyright 2013TIPSwww.WomenBusinessOwnersToday.com
  2. 2. for women starting a business1. Write a business plan2. Line up your ducks3. Own Something4. Meet the players in your pond (Networking)5. Align with the right players (Alliances)6. Take stock of “The ideal”7. Understand “The realities”8. Take care of yourself9. Take time for yourself10. Have funTIPS
  3. 3. Failing to plan is planning to fail.
  4. 4. 1. Write a business planThere are plenty of resources to help you out:• Look into government funded organizationslike, Women’s Enterprise Centre’s (WEC) orBusiness Service Centre’s• For younger entrepreneurs, look intoprograms for youth like the, Canadian YouthBusiness Foundation (CYBF)• Check out the business resources availablethrough most national banks• Thousands of online, private sector resources
  5. 5. Why write a biz plan?1. Helps you develop a clear picture of your business2. Makes you more money by providing theimplementation plan to make it happen3. Helps you to attract investors and/or to acquirefinancing4. Saves you time because the research is done5. Keeps you on track and make it easier to besuccessful
  6. 6. 5. Gives you a chance to make mistakes on paper6. Creates a foundation for your company’s growth7. Helps to reduce risks and maximize profits8. Helps you to learn more about your competitors9. Helps you to make important decisions easily andprofessionallyWhy write a biz plan?
  7. 7. for women starting a business1. Write a business plan2. Line up your ducks3. Own Something4. Meet the players in your pond (Networking)5. Align with the right players (Alliances)6. Take stock of “The ideal”7. Understand “The realities”8. Take care of yourself9. Take time for yourself10. Have funTIPS
  8. 8. 2. Line up your ducks1. Secure financinga) Low interest loans through government organizations and banksb) Grantsc) Angel Investorsd) Crowdfunding2. Get insurancea) Liability, Errors & Omissions, Theft, Breakage, Spoilage, etc.
  9. 9. 2. Line up your ducks3. Consider your legal requirementsa) Incorporation, Partnership, etc.b) Sales Contracts / Agreementsc) Licenses, permits, etc.4. Set-up Officea) In home or external?b) Phones (cell, landline, VOIP, answering service)c) Books, payroll, technology, forms, b-cards, invoices, letters, etc.d) Hire staff, processes, etc.
  10. 10. for women starting a business1. Write a business plan2. Line up your ducks3. Own Something4. Meet the players in your pond (Networking)5. Align with the right players (Alliances)6. Take stock of “The ideal”7. Understand “The realities”8. Take care of yourself9. Take time for yourself10. Have funTIPS
  11. 11. Being remarkable or different gets our attention!Seth Godin – The Purple CowWhich cow get’s your attention?
  12. 12. • What will you OWN?• What will make YOU remarkable?• Why will someone choose YOU and not your competition?• What will make your customers come back year after year?
  13. 13. for women starting a business1. Write a business plan2. Line up your ducks3. Own Something4. Meet the players in your pond (Networking)5. Align with the right players (Alliances)6. Take stock of “The ideal”7. Understand “The realities”8. Take care of yourself9. Take time for yourself10. Have funTIPS
  14. 14. PlayersinyourpondJust like the Ecosystem of a Pond withplants, small organisms, fish, etc., so too isthere a Business Ecosystem.
  15. 15. Playersinyourpond 1. There is your core business with:• Direct Suppliers• Core Products/Services• Direct Customers• Distribution Channels
  16. 16. Playersinyourpond 2. Then there is your Extended Enterprise with:• Suppliers of your suppliers• Standards bodies• Suppliers of complimentary products & services• Customers of your customers
  17. 17. Playersinyourpond 3. Then there is your Business Ecosystem with:•The economy and market• Investors and financial institutions• Government agencies & other bodies• Competitors• Natural Resources• Natural Disasters, etc
  18. 18. for women starting a business1. Write a business plan2. Line up your ducks3. Own Something4. Meet the players in your pond (Networking)5. Align with the right players (Alliances)6. Take stock of “The ideal”7. Understand “The realities”8. Take care of yourself9. Take time for yourself10. Have funTIPS
  19. 19. Align with the right playersGet to know the peoplethat know people in yoursupplier or servicesnetwork. They will help youmake the right choices thefirst time.
  20. 20. Align with the right playersAlign with your professionalnetwork of lawyers, bankersand accounting folks foradvice and futurerequirements
  21. 21. Align with the right playersNetwork with influencers inyour client network so theycan be your champions withyour prospective clients.
  22. 22. Align with the right playersMeet industry employersand work closely with youremployees who know theropes and can move you upthe learning curve quickly.
  23. 23. Align with the right playersVenture beyond yourgeographic borders and getto know what’s trending inother parts of the countryor world.
  24. 24. for women starting a business1. Write a business plan2. Line up your ducks3. Own Something4. Meet the players in your pond (Networking)5. Align with the right players (Alliances)6. Take stock of “The ideal”7. Understand “The realities”8. Take care of yourself9. Take time for yourself10. Have funTIPS
  25. 25. The Ideal . . .Perfect and dreamyHappy clients all dayevery daySitting in a treesmiling with yourlaptop? Really?
  26. 26. The reality . . .Can’t get the booksto balance Messed up on a bigimportant meetingComputer crash!
  27. 27. The Ideal . . .Happy smiling, quietbaby all the timeA 2 year old thatsits calmly on yourlap while you workMaking dinner in yoursuit, making a businesscall, and visiting withyour 5-year old who issitting by a hot stove
  28. 28. The reality . . .A 3 year old who loves toget into your papersSqueezing in afew guilty hoursof work whileyour child playsunder the deskForgetting stuffcause you’rejust too darnedbusy!
  29. 29. Usually starting andrunning a business issomewhere inbetween.• Some freedom• Some flexibility• Some headaches• Some profits• Some risk• Some guilt• Some joy
  30. 30. Build yourself a large support network offriends, family and work associates thatcan help you out with home and familyduties as well as work activities.ORHire a nanny, a housekeeper and anassistant!ORGet yourself a wife! (Kevin O’Leary)
  31. 31. for women starting a business1. Write a business plan2. Line up your ducks3. Own Something4. Meet the players in your pond (Networking)5. Align with the right players (Alliances)6. Take stock of “The ideal”7. Understand “The realities”8. Take care of yourself9. Take time for yourself10. Have funTIPS
  32. 32. Take care of yourselfEat rightExerciseRegular doctor &dental visits
  33. 33. for women starting a business1. Write a business plan2. Line up your ducks3. Own Something4. Meet the players in your pond (Networking)5. Align with the right players (Alliances)6. Take stock of “The ideal”7. Understand “The realities”8. Take care of yourself9. Take time for yourself10. Have funTIPS
  34. 34. Take time for yourself
  35. 35. for women starting a business1. Write a business plan2. Line up your ducks3. Own Something4. Meet the players in your pond (Networking)5. Align with the right players (Alliances)6. Take stock of “The ideal”7. Understand “The realities”8. Take care of yourself9. Take time for yourself10. Have funTIPS
  36. 36. 10. Have Fun!• It starts to feel like ajob you HAVE to get upfor every morning• You feel irritable andangry about yourbusiness• You start losing yourjoy and enthusiasm forwhat you’re doingIt’s time to stop andrethink your business when . . .
  37. 37. 10. Have Fun!Entrepreneurship is a journey. It takes hardwork, perseverance and some longhours, but the joy of creating a sustainablebusiness is priceless!
  38. 38. Women Business Owners Today Copyright 2013TIPSwww.WomenBusinessOwnersToday.comfor women starting a business!

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  • ChristineDubyts

    Apr. 23, 2013
  • whitecapsskills1

    Apr. 25, 2013
  • mrsopportunity

    Apr. 26, 2013
  • AmaniAli2

    Oct. 20, 2015
  • EmmanuelYelverton

    Aug. 9, 2016
  • AlohaKola

    Sep. 8, 2016

Launching and growing a business takes hard work and perseverance. For woman business owners there is also the lure of flexibility and the opportunity to spend lots of quality time with your kids. Make sure you go in knowing some of the realities.

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