When it comes to entrepreneurship, women are making waves. Over the past decade, the number of women-owned businesses has increased by 58%, with women now owning 42% of all businesses in the United States. Despite facing unique challenges, women entrepreneurs are thriving and achieving success in a variety of industries. So, what are some habits that successful women entrepreneurs share?
Here are five key habits that can help women entrepreneurs achieve success.
1. Setting Clear Goals
One of the most important habits of successful women entrepreneurs is setting clear goals. Without clear goals, it’s easy to get sidetracked and lose sight of what you’re trying to achieve. Successful women entrepreneurs set both short-term and long-term goals and create actionable plans for achieving them. They also regularly review and adjust their goals as needed to ensure they stay on track.
Take the story of Sara Blakely, the founder of Spanx. When she launched her business, she had a clear goal in mind: to create a product that would help women feel confident and comfortable. She set a specific goal of selling 50,000 units in her first year, and she exceeded that goal by selling 50,000 units in just the first three months.
2. Focusing on Personal Development
Another habit of successful women entrepreneurs is a focus on personal development. Personal growth is crucial for achieving success, both in business and in life. Successful women entrepreneurs prioritize personal development by investing in themselves through reading, attending conferences and workshops, and seeking out mentors and coaches.
For example, Oprah Winfrey, one of the most successful entrepreneurs of our time, has consistently emphasized the importance of personal growth throughout her career. She’s known for her voracious reading habits and her commitment to attending personal development workshops and retreats.
3. Embracing Risk
Successful women entrepreneurs also know that taking risks is an essential part of achieving success. They’re not afraid to take calculated risks, and they recognize that failure is often a necessary stepping stone on the path to success. Successful women entrepreneurs approach risk-taking with a strategic mindset, weighing the potential rewards against the potential risks.
Take the story of Emily Weiss, the founder of Glossier. When she launched her company, she took a big risk by focusing on social media marketing instead of traditional advertising. She recognized that her target audience was active on social media, and she believed that social media could be a powerful tool for building a brand. Her risk paid off, and Glossier has become one of the most successful beauty brands in the world.
4. Building Strong Networks
Building strong networks is another important habit of successful women entrepreneurs. Networking can help entrepreneurs build valuable connections, find new opportunities, and gain valuable insights into their industries. Successful women entrepreneurs are intentional about building and nurturing their networks, and they recognize that networking is an ongoing process.
For example, Angela Ahrendts, the former CEO of Burberry and former SVP of Retail at Apple, is known for her ability to build strong networks. She prioritized building relationships with her team, her colleagues, and her customers, and she recognized that those relationships were critical to her success.
5. Being Resilient
Finally, successful women entrepreneurs are resilient. They recognize that setbacks are a natural part of the entrepreneurial journey, and they’re prepared to bounce back from failure. They cultivate resilience by staying focused on their goals, maintaining a positive mindset, and seeking support from their networks.
Take the story of Sophia Amoruso, the founder of Nasty Gal. Amoruso faced numerous setbacks on her path to success, including bankruptcy and legal challenges. Despite these setbacks, she remained resilient and focused on her goals. She embraced the lessons she learned from her failures and used them to fuel her future success. She even wrote a book about her experiences, titled “#Girlboss,” which became a New York Times bestseller and inspired a Netflix series.
Sophia Amoruso’s story is a testament to the power of resilience in the face of adversity. Her ability to bounce back from setbacks and stay focused on her goals is a key factor in her success as an entrepreneur.
In conclusion, the habits of successful women entrepreneurs are essential for achieving success in business. From setting clear goals and focusing on personal development to embracing risk, building strong networks, and being resilient, these habits can help women entrepreneurs overcome challenges and achieve their dreams. By emulating the habits of successful women entrepreneurs like Sara Blakely, Oprah Winfrey, Emily Weiss, Angela Ahrendts, and Sophia Amoruso, aspiring entrepreneurs can set themselves up for success in their own entrepreneurial journeys.