Are you an entrepreneur looking to grow your business? Here are some great tips that will help you to do so.
1. Knowing Your Worth
Women in business have to avoid getting steamrolled when it comes to issues dealing with the gender pay gap, leadership, and ideas. But you need to remember confidence comes from within. You need to know your worth, and this will involve professional development. You should be giving yourself the training and tools you are going to need to be the best. When you have the cold hard skills and attitude matching it, you will be more confident in terms of how you carry yourself, pitching your business, and working with clients.
2. Saying No
Warren Buffet did not become one of the richest men by bending backward for everyone and everything. He said how saying no to almost everything is what separates the successful people from really successful people.
It can feel scary walking away from an opportunity to make money – especially when you are getting started. If you feel like a client is not the right fit or paying enough, then do not be afraid to say no. You should get rid of things that don’t serve you so you can create enough room for the right people and opportunities in case they come along. In short, you should not be loading yourself with a lot of work that is not going to help you in achieving your goals. When you focus on such things, it will take longer to get to your goals.
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3. Working on Your Business and Not in It
When we were starting our company, it was just the two of us and we had to do everything. This became both a great asset and an hindrance to the growth of our company. Whether because of passion, cost savings, or stubbornness, we were forced to spend a lot of time on production and we did not have enough time to focus on the development of our business and acquiring new clients. This was the case until one day when our mentor told us that we should be working on the business and not in it. This seemed like an obvious thing, but for us, it was an epiphany.
This forced us to start focusing on our strengths, isolate bottlenecks and pain points, and work more on strategies to grow the business. We started adding members to our team so as to free more time for us to focus on the growth of the business while our clients get quality services.
4. Avoid Hiring Friends or Family
You do love your cousin, but would you be okay with her being a roommate? What about your best friends, mum, or even your husband’s best man? Before hiring someone you already know, you should first ask yourself whether you are going to treat them just like the other employees. Are you willing to sit them down and have a hard conversation when they don’t perform? Are you compelled to pay them more than they deserve because you don’t want it to feel awkward? Unless your personality perfectly meshes with a friend or family member, you should not hire them to work for you. Nepotism doesn’t always work for both parties. This piece of advice is very important because it will help you avoid awkward family gatherings.
5. Treating Your Employees Well – You Should not Micromanage them
How do you feel when someone like a boss micromanages you? You probably feel resentful, frustrated, and stressed. You should not do this to your employees. When you micromanage your employees, it results in a tense work environment. This defeats the purpose of hiring members to your team to help. You are going to spend a lot of time doing someone else’s job on top of what you need to work on.
If you are micromanaging because you don’t trust the employee, then consider hiring someone else. If it is because of your control issues and insecurities, then work on that. Employees are at their happiest when they feel respected, valued, and a sense of autonomy. The happier your employees, the better their work.