• Devansh Lakhani

4 Tips for Women Entrepreneurs

Over the past decade, the rise of women entrepreneurs has been seen throughout the business world. It becomes very important to empower female entrepreneurs and encourage them to achieve the success they want. There has been an ever-increasing amount of female entrepreneurs who can now serve as role models for their peers.

It’s not a secret that women have been underrepresented in the business would. However, with people speaking out and finally giving the deserved reaction to women entrepreneurs, they are finally getting the recognition they deserve. As such, here are some of the tips that women entrepreneurs should know to excel in the industry.

1. Feedback is everything

As an entrepreneur, it’s important to grow and learn from your mistakes. Knowledge about where and how you can improve in certain areas of the business is important. As such getting feedback about different ventures and opportunities is imperative for growth.

Understanding your niche better than anyone else and conducting deep-dive research into different aspects of the business will help you advance. Trying different methods of learning like podcasts and audiobooks, videos, etc. can all be of help. Understanding what buyers and angel investors look for in your company etc.

There are numerous ways to validate your ideas. Take the help of customers themselves through crowdfunding. Take help from other fellow women entrepreneurs etc.

2. Never get scared of failure

The phrase you live and learn is a very apt one. Everyone makes mistakes and fail in something or another. The question is how will you rise from that failure and learn from it. As an entrepreneur, you are expected to move outside your comfort zone. Risks should be taken to gain the optimum result.

3. Build your network

Networking is very important for any entrepreneur. As a woman looking to break barriers, find other women who you resonate with. Connecting with them can be of great help. While you’re networking it’s imperative to showcase your brand. What do you have to offer? All these questions should be answered with the way you communicate while networking. Remember that even though you are looking for mentorship and people to help you, you also have something to include on the table. Your experience will speak for itself.

4. Accept help

As women, there are a lot of resources for use in the business field. Numerous companies and organisations are extending their hand to help women entrepreneurs. Many of these resources are extended by established female entrepreneurs themselves who understand the hardships that women face in the industry. Accepting help from others is nothing to be ashamed of as an entrepreneur because it takes a whole team to meet those goals you have for your start-up. It’s important to ask for this help. Often it is the people you never expect to help who will come up and help.

To Sum Up

So here you have it, some of my tips for women entrepreneurs. Further for any entrepreneur, the best way to incorporate any aspect of their business is by having a complete business plan. Your business plan should also include a One-Page Business Plan. I have developed a one-page business plan for all start-up founders and entrepreneurs. This business plan helps you ideate what you would like to achieve the following year as well as the activities you are willing to give up. It helps you to understand the shortcomings of the previous year as well.

About Devansh Lakhani

Director of Lakhani Financial Services, and a Chartered Accountant, he helps start-ups raise funds from his network of investors. He guides and advises start-ups to scale up by providing efficient sales, marketing, team building, and business management strategies. He has executed fundraising by block deals on the stock exchange and conducted IPOs and right issues on the SME platform to the tune of over Rs. 50 Crore. He is currently working with start-ups from various sectors to help them channelize their business models and investments.

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