3 Secrets of Successful Women Business Owners

Houston Business Management Consultant

1. - Get a handle on the numbers. - We understand you didn’t start a business because you enjoy poring over numbers.

But when it comes to business success, financial knowledge definitely matters.

If you’re not comfortable doing your own financial reporting, be sure to find a good business partner or accountant to help. If you’d like try it on your own, this list of the top software solutions is a good place to start.

2. Socialize! - If you spent the winter hunkered down at work, now is the time to get out and make some connections. Successful women business owners say they find great strength and inspiration from engaging with other women business owners. Think local to start:

• See what events your city has planned
• Find one or two relevant events you could attend or volunteer at
• Join a local networking group or attend a Chamber of Commerce meeting
• Start your own advisory group it doesn’t have to be formal

Want to find an existing local business group or start one of your own? Try Meetup.com. They make it easy to connect with locals who share similar interests.

Of course, don’t forget to leverage social media to grow your customer base. Let people know about: the problems your business solves, what cool things you’re up to, why you exist, how you’re making a difference.

Try to avoid “business speak” when posting in social media. Let your personality shine through and don’t be afraid to take chances it doesn’t have to be perfect.

Lastly, don’t just post and walk away. Social media is supposed to be…social. Use it to have a conversation with your fans and build new relationships.

3. - Leverage your banker. - Speaking of building strong relationships, don’t forget about your banker. She should help educate you on all the different financial products at your disposal (they can be confusing!). Because you’re a customer, they’ve got a vested interest in seeing you succeed especially if you have a line of credit, term loan or any other of their financial products.

Plus, bankers are usually well-connected within the community. They may be able to refer others to you as potential customers or refer you to other businesses that may synergize with yours. Lastly, don’t be afraid to use bank products or other forms of business credit. Research indicates that, women-owned business are still less likely than businesses owned by men to use business credit or equity financing. It’s okay to borrow strategically. Just make sure you’re clear about what you’ll do with funds and how they’ll help you grow.

Source: NAV

Patty Block, President and Founder of The Block Group, established her company to advocate for women-owned businesses, helping them position their companies for strategic growth. Charting the course for impactful, sustainable, profitable businesses, the beacon is control: of your strategic direction, your money, your time, your staffing, and your ability to bring in business. The Block Group brings together the people, resources and ideas that build results.

Houston Business Management Consultant.

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