Monday, February 18, 2019

Women Business Owners Offer Sound Advice

I've captured all the sound advice – 16 insights – provided by women business owners in the article, "Meet the women driving Worcester's renaissance and the advice they have for aspiring business owners," by Melissa Hanson.

Here's a snapshot of what they have to say when asked what advice they would give to aspiring business owners.
  1. Make sure you have a solid plan and then make sure you have a solid backup plan. And do your research and talk, network...And don't be afraid to put your ideas out there. 
  2. I think the biggest thing is finding your cheerleaders, your champions, your people that are going to believe in your vision. Finding people who are going to be in your corner but that are going to challenge you and encourage you to really consider everything before you go into business is going to make you that much stronger.
  3. Just do it. Always be prepared. Go in there knowing what you're talking about.
  4. I would say, make sure you have a plan. Some sort of plan. Do something that you love. If you love what you're doing, you will make it a success.
  5. You normally know the truth in your gut. So, if you know you're a hardworking person who's willing to sacrifice and willing to give up time and willing to kind of lose the financial part of it at first -- cause it's really difficult to make money in the beginning -- then you just have to really trust yourself. It sounds cliche, but everyone can give you an opinion but at the end of the day they're not going home with your problems. 
  6. It takes a lot of will. Like unrelenting will. Get your will in order and make sure that you're doing something you're absolutely in love with and passionate about. Because there's going to be plenty of times where really crappy things are happening but if you're in love with the whole thing of what you're doing you're much more accepting of it as part of the process.
  7. Just go for it. I think that all young women out there and even older women...I think that they just have to understand that they just have to do it anyway because time will pass. 
  8. Really think it through and talk to other business owners to understand what's going to keep you up at night and the challenge of employing people and keeping people employed. 
  9. It's not always easy and you have to do it for the right reasons. Do it because you love it and because it fits your lifestyle. You've got to surround yourself with like-minded, good people. Pay them.
  10. You need a sounding board, whether it's friends of somebody who's done it before you. Do your research and talk to people. 
  11. Just do it. Just start. You've got to start somewhere. Get involved and reach out. Go to a city meeting, go to a cultural coalition meeting. You've got to start building that team right off the bat.
  12. There's no definites and I mean that in the sense of, talk to a lot of people, get information from a lot of people, but also know that there's a lot that you have to filter out. It's just kind of a matter of following your heart and your gut.
  13. My biggest thing that I think helped was not really having a backup plan. There was no, "if it doesn't work out." This was always what was going to happen. 
  14. Be transparent. Be honest with each other. If you're doing it with a partner, or even if you're doing it by yourself, figure out what your comfort zone is and be willing to go beyond what because you are always stronger than what you think you are.
  15. Do the research. Do your homework. Do as much of it as you can. Talk to as many people in the industry, research your market, research your industry. Run the numbers. Have a business plan. Talk to the bank. Get financing and have three months worth of financing in the bank on top of everything you need for buildout, because those are the biggest mistakes people make.
  16. Go for it.

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