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Top 4 Tips for Women-Owned Businesses

E's Element | Women-Owned Businesses | Motivation | Inspiration

As a women-owned business, E’s Element has compiled the top 4 tips to guide other female entrepreneurs!  Read more to learn about best practices to help you grow!

 

 

1. Uplift and share knowledge with other female entrepreneurs.

Connecting with other female entrepreneurs is a great way to enrich the experience of running your business. Some of the best business tools are developed through research, mentors, and trial and error. Exchanging resources with like minded women can fast track your growth. Think of one thing you do that makes your work easier and more effective. When connecting with other business owners you can exchange this advice with them. If you speak with only 10 other women, you can have 10 new ways of optimizing your workflow, increase your profit margins and more! By supporting other female entrepreneurs you also help to grow the opportunities available for women and continue to shape the business industry to be more equitable. Some of E’s Element’s collaborators include The Trending Table and Her Market. Both collectives are founded by women. In addition to hosting pop-up marketplaces, these amazing organizations create community and resources for entrepreneurs.

 

2. Look inward for validation and affirmation.

An important part of being your own boss is affirming your success and celebrating your wins. Generally the journey of starting a business can come with both internal and external doubts. In the words of E’s Element’s founder, Emmanuela Okon, you are your biggest supporter as a business owner. While people around you may fuel your desire to continue pursuing your venture, they may also second guess some of your decisions. By remaining firm in your belief in yourself you can be impermeable to what anyone may say. Rather than seeking reassurance or validation from others, remember to trust your intuition and develop a practice of self-affirmation. You can learn more about Emmanuela’s thoughts on being your own supporter.

3. Set boundaries. 

Many business centred industries (fashion, entertainment, finance etc.) are largely built on patriarchal conventions. While this is steadily shifting towards the acceptance of women as business leaders, there are some people who still operate with outdated connotations around women and traditional gender roles. When dealing with supplier relations, photographers, bankers, any collaborators, it’s important to set boundaries. Developing your own personal guidelines on how you do business can make it easy to navigate all interactions. This also applies to engaging with customers! Boundaries look different for everyone. An example is knowing when to say no. Because it can feel scarce to discover opportunities in certain fields, it’s easy to say yes to all work you get. To avoid burnout, create a limit for yourself on the amount of work you take on. Boundaries are a great way to develop healthy business relationships.

 

4. Explore resources specifically for women.

A great tip for female entrepreneurs is to take advantage of the resources created specifically for women. Depending on where you live and operate your business you may be eligible for certain financial and equipment support. For those who live in Canada you can check out this database of grants for women-owned businesses. This is a helpful resource with over 20 sources of financing for your business. There are also mentorship programs, workshops and more available through this compilation of resources for women. You can find even more by researching what’s available around you.

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