Over the last decade the growth and sustainability of women owned businesses and female entrepreneurs has grown exponentially. However, while it is a fact that women dominate small business ownership, it is also evident that it is time for us to take our business out of the micro markets we have successfully dominated and to the next level of growth; we need to start thinking big. Yet of the 10million + women owned UK businesses, many of us will take the circuitous route through the sustainable business growth stages that may or may not eventually lead to reaching that next level of growth.
Wealth Creation Is Or Should Be A Key Driver To Success
Perhaps you fell into your business accidentally or it is the result of a lifelong passion that you turned into a business, or you created the business as a result of a financial or personal need; no matter why you started the business, wealth creation is or should be a key driver. After all, why are you in business if not to make money? As someone once said, ‘if your business is not making money, then it’s just a hobby’.
Are you on the path to wealth creation?
Do you have passion and enjoy what you are doing?
Do you have a plan?
Do you have an exit strategy?
Do you work on your business versus in the business?
Are you constantly aligned with your target market both internally and externally?
Do you maintain a competitive edge?
Do you continually innovate and differentiate?
Do you continuously monitor your competition?
Have you harnessed that entrepreneurial spirit that started it all?
Your business plan is your road map; do you keep it constantly updated?
Do you network, network, network?
Victims of repetitive paralysis
As women business owners and female entrepreneurs we do face some unique challenges and issues more than our male counterparts. That elusive work life balance we constantly try to achieve (unfortunately to the detriment of the business) as well as the inadequate financial resources available to us due to the lack of investor confidence in women owned businesses. We may protest that it’s not fair but it’s a fact: many [male] investors still believe that a business needs a male presence for the business to be truly successful.
However, the main obstacle to taking our business to the next level is ourselves. We habitually and intentionally stand in our own way; we buy into our own limiting beliefs and as a result we get stuck in the never ending cycle of destructive repetitive paralysis; the business stagnates and we languish in the surreal world of self-sabotage and self-prophesising failure. It’s a painful process and totally unnecessary and preventable.
So strap on those high heels and keep moving forward.
Believe in yourself and what you are doing. Don’t compromise.
Whatever you do should resonate with your values and principles.
Give back to the community and society. Be it time, money or services.
By leveraging the power you have of being a woman in business, you can break free of the destructive repetitive paralysis cycle; you can achieve the greatness you know you are capable of; and yes you can enjoy a work/life balance while creating wealth; and you can do it all in high heels.
Luciana Cousin. March 1, 2012