Women in business | nnbw.com

Women in business

Jane Boucher

If you are thinking of owning and managing your own business, there are a lot of details you need to cover.

It is a good idea to have your own business provided you know what it takes and you have what it takes.

Starting a business is risky at best, but your chances of making it will be better if you’ll work the risks out before you start.

Things to consider before you start are: How about the money? How about a partner? How about your customers? When you get started you may have to consider a building or location for your business.What kind of equipment will you need? How about supplies? What kind of people will you have to hire? What about the legal implications of your business? And how will you make it go? How will you advertise? What kinds of prices will you charge? Will you provide credit for your customers? Do you have what it takes?

These are the “what it takes” items.What about the all-important “do you have what it takes?” item? Are you the kind of person who can get a business started and make it go? Women frequently have a management style that is referred to as “interactive leadership.” Women tend to encourage participation, solicit input, share information widely, share power, and seek to enhance the self-esteem of people they work with.Another management style is a command-and-control style of decisive action.

Successful women use a variety of styles effectively and all business owners need the latitude to develop a style that works for you.

Try to choose a field you know inside-out.

If you jump into something you don’t know, pick something that’s not fun or glamorous to avoid the crowds.Where are the crowds? They are small retailers who are failing at a rate of nine out of 11 in the first five years.

You must find what truly makes you happy – what you really want to do without worrying about how much money you’ll make.

Sure, you have to pay your bills, but too often an obsession with the dollar leads to certain trouble.

When you love what you do, the money will follow.

Believe in yourself, pray for wisdom and act on your belief.

Two ways to raise money There are two ways to raise money for your new venture: the hard way and the very hard way.

The difference depends on you ability to maximize your chances.You can maximize your chances by having a well thoughtout business plan.

It’s a selling document to persuade investors.Write what the investor wants to hear.

They want to know what kind of return they will get and how they can minimize their risk.

One of the biggest mistakes new business owners make is having an underdeveloped business plan.

If you have a dream …

go for it! There will be a price.You will put in long hours.

You will have other people telling you you’re working too hard.

They will probably be right.

If you have a dream, you will make a commitment towards your goal.

Only then can your dream come true.

Jane Boucher is an author and professional speaker with offices in Reno and Ohio.

Reach her at 775-853-0226, 937-416- 9881 or janeboucher@mail.com.

Her websites are http://www.janeboucher.com and http://www.janeboucher.org.