30 POWERFUL RULES OF FEARLESS FEMALE ENTREPRENEUR
You will not last long if you have 0 passion and interest in the industry, service or product. Losing interest in business is very easy with pressure coming from all sides. But we all know that the biggest enemy is usually our mindset. The only sword we have is our passion.
That is why Skinoholist built a tool which in 20 min allows to identity you the first 3 niches that you personally should start entrepreneur journey in. Identify your passion and launch business built around it. That is the strongest rule to adhere to.
If you’re about to start a new venture, ask yourself: What is becoming possible or necessary that wasn’t possible before? Is a new product or service able to take over an existing market or create a new market?
When Aukse Zilenaite founded Skinoholist, she looked around, remembered her struggles and battles.
Aukse saw much encouragement and still sad statistics about women empowerment, but NO tool that leads step by step woman to start her business. Information is there, however, too much noise and no encouraging tools for woman.
And here you are!
The disruption is that you are already in the 2nd step and once you reach tenth – you have constructive guidance, community and knowledge for your fearless female entrepreneur startup.
Do not waste time and effort for an idea that has a short lifespan. If you already have second and 1st rule in mind, you will instantly aim big. Our passion leads to big visions. Big visions create new trends. When your vision kick start a new trend, you inspire others. Therefore:
You should understand the size of your market, because only 3% might be interested in your product/service.
After you know the exact size of market, you still need validation. For that you have to drop any assumptions about your prospective client. Because at this stage he/she is not a prospective client. Until you validate your market.
The most successful entrepreneurs rely on influencers, friend, family, collaborators, alumni, early customers, third sector, social enterprises.
You business plan should and must include section of strategic partnerships. By starting with those that you trust, apply trust building strategies and build a network that will grow your business.
Risk management is implemented from the beginning. Exit strategy outlined in your business plan. There is no question about running out of options, because each operational step is safeguarded.
There is no failure, because you never risk with everything you have.
You develop your intuition when you understand your customers preferences and needs– who are changing every day due to lifestyle changes.
The world is changing more than ever. You need that entrepreneurial vision that keeps telling you when to leave, when to enter, when to shock and win.
The challenge is to keep commitment to your brand and be flexible and determined to help your customers with the best new solutions once market is validated.
Do not procrastinate. Your business plan should tell you- that you start small and grow.
You do not need to start with all of the product features at once! You will simply waste a lot of time, and what will you amaze your customers later with?
Forget perfection and massive business. Start. Start today and grow step by step.
Do not belief your theories. Once you launch, all monitoring and evaluation systems should be set up in place. There are amazing tools that tells you on your screen how your business is doing, how each campaign and channel is serving your goals.
Metrics (like cost of client acquisition, facebook page likes) can be easily monitored.
However, your creative side might fight the numbers. Always have your mind set to flexibility based on market needs. And adjust your creativity to what you see!
Numbers and customers feedback – is your strength and confirmation.
You can develop a product with amazing value proposition plus unique selling point. It can be one of the kind, but without distribution you will stand alone holding product in your hands like a baby.
There are many distribution models. You should determine which model of distribution is best for your product.
Distribution model affects pricing, revenue model, marketing strategy, future growth.
You need to know and set your KPIs (key performance indicators).
You need to know how much your business is able to generate if you put in one dollar + 1 hour.
Measure not only in dollars, but measure in time.
Metrics are essential part of business.
What this rule means is that you need to develop knowledge about business planning and marketing before hiring people, let alone -outsourcing. If you have no idea about their function and what they do – you will not understand how to monitor their success.
Take time to find people who learn fast and can be part of your vision. If you feel that they do not support your vision and might leave in a week, do not waste time. Do not rely on old methods of recruitment. You build long term business, therefore, creativity should be your priority.
We look too often from far into our ideals, and feel far from our dreams, goals and vision.
Empowerment comes into play when we live by the rule attract-reflect-become and mirror.
Express gratefulness, because it has the most healing energy.
Gratefulness has a binding force. Use it to feel love inspires creativity like nothing else.Say thank you for this moment.
The above set of rule is the best rule you can apply to manage your communication with your co-founders, colleagues, family and friend. This is amazing self-control that brings you wisdom and saves you energy. Words can be forgiven, but can they be forgotten?
This rule comes from Mark Twain quote. It is important to stop yourself before getting into argument. Arguments never lead us to creativity. Especially arguments with people who wants us to waste our energy and slip on the slippery argument way.
Your personal relations, communication and choices you make have effect on your business. As you take responsibility for people you hire, you also take responsibility for you actions.
You need to lead healthy lifestyle in order to stay productive and happy with your business growth. Your employees and colleagues reflect how health conscious is your organisation. There are choices you can make to support healthy and friendly atmosphere in your company.
However, you always remember the beginning and mission of the journey.
If you change your ground rules, it means you lie to yourself and others.
There are no universal rules for being an entrepreneur. The above rules just help you to start.
These rules are your mindsets. They help your mind have a direction, vision and courage.
The most important is to have mind set to specific rules. Audit rules during journey and share rules that helped you with others. Be our inspiration.