A dream is wonderful but making that dream happen is hard work especially if involves building something worthwhile with results like a business. Doing business under any circumstances is not easy and it is a world very much controlled by men, and being a woman in a man’s world the biasness is sky high, for a lot of men think that a woman’s place is still in the kitchen at home tending to men!
As a women entrepreneur, the first thing is to have is a thick skin against all the prejudices and learn to fight in a patriarchal society. How do we fight? Well to be able to fight we need to have fighting skills. In the business world, what are those skills? Skills a woman should learn and sharpen before venturing into the business world.
One of the most important aspects is the courage to face uncertainty, and be a risk-taker. Not many people make the jump it is comfortable to have a fixed income you can count on at the end of every month and very few people take the leap. Those who do very few are women as they tend to play safe yet, women have a proven record for success when it comes to business. Examples are many but notably, we have Sarah Blakely (Spanx founder), Kiran Mazumdar-Shaw, a biotech CEO already India’s richest woman, worth $480 million, Oprah Winfrey, the former TV host known as the "Queen of All Media, she was the richest African American of the 20th century and North America's first black multi-billionaire. She is currently worth 2.7 billion USD. These are just some examples of women who broke the ceiling to become successful.
Therefore, if there is a dream and a will anything is possible as Audrey Hepburn aptly said “Nothing is impossible, the word itself says 'I'm possible!”. However, going to war with no weapons is foolish hence before plunging into any business it is advisable for women to equip themselves with certain skills. One of the most important aspects is your mind and being a sponge and learning as much as you can is important before embarking on acquiring the right skills, and no learning can be done if you don’t read, so cultivate the reading habit first before taking the plunge in cultivating the right skills.
1. Networking: One of the first things a successful entrepreneur has to do is to hone her networking skills. Isolation will not earn anything while networking will open doors and create opportunities. The more people you get to know and interact with, the more opportunities open up. Building a strong relationship with powerful, well-connected people is of utmost importance to be able to open doors. You can ask your friends to introduce you to people, take part in conferences and workshops that allow you to meet like-minded people and people from the same field. Networking can happen anywhere, even when you are travelling on the MRT, so keep yourself open to opportunities.
2. Grow a thick skin: In any journey in life there are hurdles and sometimes these hurdles are created by ourselves in the form of a mental block because someone not so brave said something that affects our confidence, so it is better to grow a thick skin and learn to differentiate between constructive criticism and simply a criticism based on a person’s personal opinion. You need to be more resilient to avoid getting affected by unnecessary things. There will be a lot of setbacks in a business and it will be difficult to deal with them if you do not bounce back fast enough.
3. Negotiation and Communication are skills that you’ll need as an entrepreneur from dealing with investors to clients, vendors and staff. Negotiating is a very powerful skill in the world and knowing how to negotiate with vendors, customers, and other invested parties is highly valuable. This is where communication skill comes in you can’t network, negotiate or sell if you cannot communicate precisely and convey your ideas and thoughts well. As they say, if you want a million dollars you must speak and look like it. Good communication and negotiation skills need to be cultivated and learnt and cannot be underestimated.
4. Data and Developing a business plan: When starting a business you need to build a foundation first and many people underestimate the value of a business plan. A business plan doesn’t have to be perfect but it must be there serving as a foundation and guideline for the business. It is good to lay down the vision and chart a path to growth, so at any point, it can serve the least as a reminder if nothing else. To build a solid business plan it must be based on data and that means market research. SWOT analysis is important knowing your competitors or closest to is needed for you to be able to gauge the market needs and therefore if your business is viable. The business plan should be adjusted and adapted to changing market needs as well. It helps you to also look closely at the financial side of things which is very important, and creating that business plan will teach you to understand the financial side of your business as well.
5. Sales: Personally, this is the most difficult of skills to acquire especially if you are not a natural-born salesperson. This skill is very important to master no matter who you are as long as you are an entrepreneur. For women, it can be difficult as it’s not easy speaking in a room full of men and especially if they are shy. People tend to lump sales and marketing together but it is pertinent for you to understand the difference between the two, marketing is to create brand image, sales is what makes the business and will help makes the bottom line. Therefore, being a good salesperson is of utmost importance and a skill that has to be constantly worked on. It is not an easy skill as you must have very thick skin, perseverance, creative and at times brave!
Dreams are not easy to fulfil and it takes a lot of perseverance and hard work to make them happen. No one makes it to the top overnight, so when taking that plunge make sure you are prepared for the long haul and no matter what you stick to your vision and dreams. Be brave and take that plunge but prepare yourself with the skills you need.