This area of Simply Inspirational for Women in Business Journal will share with you what some women struggled with in their entrepreneurial journey. The expose will examine what are: What are some of the challenges you have had to overcome and how have you overcome them? and What business strategies have you used to grow your business? We will present their experience on the ground level.
What are some of the challenges you have had to overcome and how have you overcome them?
There were some challenges I encountered when I decided to leave my TV career and pursue entrepreneurship in training and coaching. The main ones were dealing with a drop in finances after leaving a full-time well-paid job in television, lack of clarity as to where I was headed, not sure where to start or how to set up a new business and not sure as to my exact direction. I just knew that I wanted to work with clients and run personal development workshops. I was trained in NLP, Hypnosis, Time Line Therapy™ and certain coaching models. I slowly discovered my path and my business model.
Over the years my business model has changed, I have had to learn a lot and get very good at sales and marketing, and I also took on a business mentor a couple of years ago. It takes time to build up a client base. Entrepreneurship has its ups and downs. The key is to persevere, be flexible, believe in you and keep going! Once you go over that ‘tipping point’, it will get easier and your business will flow more. If you do not believe in yourself, you will give up at the first hurdle and you will find all sorts of reasons and excuses as to why you can not get what you want. It is important to have a strong business model/plan, yearly and monthly goals/outcomes, a clear strategy. I also must mention that aside from that, it is essential to have a clear calm mind and also learn to use your intuition. Your intuition guides you in the right direction when your mind is clear and when your internal chatter does not get in the way.
What business strategies have you used to grow your business? I use both online and offline strategies to grow my business and I am always testing different strategies to see which generates better results. For example I find that video marketing is more powerful than simple newsletter marketing. In a crowded market you have to stand out from the crowd. What makes you "different" from others offering similar products and services? Some of my offline strategies to drum up business include delivering presentations to business groups, charities, corporate; business networking. Online strategic methods may include videos offering tips with a call-to-action at the end with a special offer/discount for a specific service or product for limited time. I also write blog articles with a call to action to opt-in on my website. Also your database is important and I have grown that over the years and it is important to build a relationship with your subscribers through articles, tips, freebies and special offers.
Karen:
Dealing with difficult clients and pricing her work that would be
accepting to her and her clients are two challenges that she faced and
that other women in business can identify with. This is what Dy had
to say. “Every virtual assistant would definitely say they have worked
with difficult clients. This is one challenge that I’ve overcome, but it
took me more than a year to really find a solution. It wasn’t a healthy
working relationship and it just wasn’t working for me. I attended
virtual assistant seminars and that was when I changed my mindset. I was
ready to let go so I can take my business to the next level. I was able
to convince my client (finally after so many attempts) and recommended
another VA then ended my long contract, but did it in a professional
approach.”
What are some of the challenges you have had to overcome and how have you overcome them?
Laurie is not unlike other women in business, she like so many others face many challenges in growing and sustaining her business. One of her biggest challenge is finance. “It is my biggest concern” she says. Moving from working in the corporate world to running her own business was indeed “transformational” for Laurie. Like so many women who have made the change, the transitioning into entrepreneurship is met with many challenges. The reliance on a steady pay check is no longer there. Finance does become a concern; how do I meet my personal and business needs are of prime concern for an individual venturing into entrepreneurship. While setting up her business, Laurie has had to work at other jobs to meet her personal needs and to advertise and promote her business. Laurie adds that “during this shift I have learned a lot about myself and about business, but it has been a challenge.” Finance still continues to be an ongoing challenge for Laurie, but will like in the future to develop a business plan and possibly form joint ventures with investors who may be interested in her ideas.
As a new business owner Laurie also has a lot to learn about the industry she is in. She notes that “it is very important to be knowledgeable of the new laws and trends that are a part of my type of business.” She is also aware of the competition in her industry, but states that “competition is in every type of business”, but she is optimistic that despite the competition there is room for her to grow her business. She strongly believes that she will succeed in her business venture; and optimistically says: “There is room for all of us.”
Laurie has used a multiple approach to marketing and promoting Manna Yoga and Aromatherapy, including the internet, flyers, brochures and cold calling. In addition to retailing her aromatherapy products to individual customers, she also sells to retail shops. Another method that Laurie finds most effective, is giving out product samples to her clients and potential clients to get their ongoing business, as well as to get new customers. Laurie points out that, she found that giving people samples of her products has greatly helped with sales. Laurie added that “people want to know what a certain product is like, especially if they are putting on their body and trying it for the first time.”
In addition to direct marketing of her products, Laurie also uses computer based technology to reach her target audience. E-commerce is a part of her business marketing plan. She has a web-store where her clients can purchase her aromatherapy product and can also confirm their yoga appointments. By integrating technology in the development of her business, Laurie is able to make her product more accessible to her customers. She points out that “it helps people to see the product and read detailed description.”
What are some of the challenges you have had to overcome and how have you overcome them?
For most women in business, finance has been their number one challenge. How do I finance my business idea so that it can grow into a start-up and blossom into a successful business? This is a common question asked. Diane noted that “yes it was definitely a challenge” and elaborated that “I worked full time for a designer and worked on the weekend as a waitress to save up capital to start my business.” She also noted that “I had great moral support from my family but no financial support as my father was an entrepreneur himself and had suffered a stroke in his prime losing his business.” While she did not receive financial support from her father, she received invaluable advice which she used to build her business. She proudly adds “he guided me and taught me many valuable lessons. I eventually got a small business loan to expand and now my business finances it self.”
What are some of the challenges you have had to overcome and how have you overcome them?There were some challenges I encountered when I decided to leave my TV career and pursue entrepreneurship in training and coaching. The main ones were dealing with a drop in finances after leaving a full-time well-paid job in television, lack of clarity as to where I was headed, not sure where to start or how to set up a new business and not sure as to my exact direction. I just knew that I wanted to work with clients and run personal development workshops. I was trained in NLP, Hypnosis, Time Line Therapy™ and certain coaching models. I slowly discovered my path and my business model.
Over the years my business model has changed, I have had to learn a lot and get very good at sales and marketing, and I also took on a business mentor a couple of years ago. It takes time to build up a client base. Entrepreneurship has its ups and downs. The key is to persevere, be flexible, believe in you and keep going! Once you go over that ‘tipping point’, it will get easier and your business will flow more. If you do not believe in yourself, you will give up at the first hurdle and you will find all sorts of reasons and excuses as to why you can not get what you want. It is important to have a strong business model/plan, yearly and monthly goals/outcomes, a clear strategy. I also must mention that aside from that, it is essential to have a clear calm mind and also learn to use your intuition. Your intuition guides you in the right direction when your mind is clear and when your internal chatter does not get in the way.
What business strategies have you used to grow your business? I use both online and offline strategies to grow my business and I am always testing different strategies to see which generates better results. For example I find that video marketing is more powerful than simple newsletter marketing. In a crowded market you have to stand out from the crowd. What makes you "different" from others offering similar products and services? Some of my offline strategies to drum up business include delivering presentations to business groups, charities, corporate; business networking. Online strategic methods may include videos offering tips with a call-to-action at the end with a special offer/discount for a specific service or product for limited time. I also write blog articles with a call to action to opt-in on my website. Also your database is important and I have grown that over the years and it is important to build a relationship with your subscribers through articles, tips, freebies and special offers.
What are some of the challenges you have had to overcome and how have you overcome them?
What business strategies have you used to grow your business?
In
order to grow her business Karen has adopted several business practices
that have helped her tremendously to take her business to a viable and
sustainable level. Education, networking and surrounding herself with
people who are successful are important to Karen success. Ms. Dy points
out that, “I have taken specialized trainings so I can cater to the
growing needs of business owners. Once I started offering niche
services, I’ve taken my business to where it is today. The investments I
have made were mostly on advanced trainings to enhance my skills. Aside
from investing in my education, I have also been active in networking
with fellow virtual assistants, both with new and veterans. I believe
that in order to be successful, you have to surround yourself with
people who are successful because they have been where you are when you
were still struggling and have made it to the top.”
What are some of the challenges you have had to overcome and how have you overcome them?
Laurie is not unlike other women in business, she like so many others face many challenges in growing and sustaining her business. One of her biggest challenge is finance. “It is my biggest concern” she says. Moving from working in the corporate world to running her own business was indeed “transformational” for Laurie. Like so many women who have made the change, the transitioning into entrepreneurship is met with many challenges. The reliance on a steady pay check is no longer there. Finance does become a concern; how do I meet my personal and business needs are of prime concern for an individual venturing into entrepreneurship. While setting up her business, Laurie has had to work at other jobs to meet her personal needs and to advertise and promote her business. Laurie adds that “during this shift I have learned a lot about myself and about business, but it has been a challenge.” Finance still continues to be an ongoing challenge for Laurie, but will like in the future to develop a business plan and possibly form joint ventures with investors who may be interested in her ideas.As a new business owner Laurie also has a lot to learn about the industry she is in. She notes that “it is very important to be knowledgeable of the new laws and trends that are a part of my type of business.” She is also aware of the competition in her industry, but states that “competition is in every type of business”, but she is optimistic that despite the competition there is room for her to grow her business. She strongly believes that she will succeed in her business venture; and optimistically says: “There is room for all of us.”
What business strategies have you used to grow your business?
Laurie has used a multiple approach to marketing and promoting Manna Yoga and Aromatherapy, including the internet, flyers, brochures and cold calling. In addition to retailing her aromatherapy products to individual customers, she also sells to retail shops. Another method that Laurie finds most effective, is giving out product samples to her clients and potential clients to get their ongoing business, as well as to get new customers. Laurie points out that, she found that giving people samples of her products has greatly helped with sales. Laurie added that “people want to know what a certain product is like, especially if they are putting on their body and trying it for the first time.”
In addition to direct marketing of her products, Laurie also uses computer based technology to reach her target audience. E-commerce is a part of her business marketing plan. She has a web-store where her clients can purchase her aromatherapy product and can also confirm their yoga appointments. By integrating technology in the development of her business, Laurie is able to make her product more accessible to her customers. She points out that “it helps people to see the product and read detailed description.”
What are some of the challenges you have had to overcome and how have you overcome them?
For most women in business, finance has been their number one challenge. How do I finance my business idea so that it can grow into a start-up and blossom into a successful business? This is a common question asked. Diane noted that “yes it was definitely a challenge” and elaborated that “I worked full time for a designer and worked on the weekend as a waitress to save up capital to start my business.” She also noted that “I had great moral support from my family but no financial support as my father was an entrepreneur himself and had suffered a stroke in his prime losing his business.” While she did not receive financial support from her father, she received invaluable advice which she used to build her business. She proudly adds “he guided me and taught me many valuable lessons. I eventually got a small business loan to expand and now my business finances it self.”
What business strategies have you used to grow your business?
While most women entrepreneur would say that the business strategies that they use that works for them are networking, having a mentor, marketing and business promotion, direct sales and or social media, Diane shares with us that her strategy is maintaining a manageable pace so that she can effectively manage her business. She shares with us why this is so important to her. She says, “My strategy is to remain at a steady manageable pace. Growing a business is not always profitable. Many people are mistaken with what it means to be successful. To me success is the luxury of having a profitable business that I love and to have an abundance of quality time with my friends and family while enjoying life to its fullest. It took me many years to come to this realization and learned the hard way.”
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