Tips for Women Wanting to Start a Business from Scratch
By Danielle Tate, CEO, MissNowMrs.com
Now more than ever, women are seeing the benefits of building their own businesses and are doing just that. In a world full of complicated and contradicting start up information, consider my eight simple tips for launching a successful business as a woman. It does after all help to get advice from someone who’s been there.
Don’t quit your day job, at least not at first.
While it may be tempting to jump feet first into building your business, it is wise to map out your financial needs and obligations before giving your two weeks notice. Consider working part-time as a transition into entrepreneurship.
I’m a big fan of bootstrapping a business instead of beginning with seed rounds. It allows you to truly focus on your product/idea instead of cap tables and keeping investors happy.
A great way to start slowly and methodically is to be careful with your expenditures while you are getting your brand off the ground by using free resources such as a free product name generator, AI logo designer, and more. This can include everything from choosing the cheapest business website builders to working with reasonably priced attorneys if/when the time comes.
Have an original idea.
So you’ve come up with an amazing solution to a problem. Awesome. Now take some time to research the problem and see if any other companies have come up with similar solutions and/or products.
It is rarely fruitful to create a copycat company unless your concept is radically innovative. The next step, talk to the people who experience the problem you’re solving and find out what they really need/want. You’d be surprised at how much you can learn from your potential customer.
Generate and act upon continuous good ideas.
It isn’t the one good idea you had for your business that will make you successful, it is the good ideas you have daily. Continuous improvement and innovation create a thriving business that is hard for competitors to copy. You can write this into your business plan with an awesome template for easier compilation.
Play to your strengths.
Know what you do well and make sure that those things are your responsibility in the business. If you lack a key component to running your business, consider finding a partner to handle that aspect.
CoFoundersLab.com is a free service that matches entrepreneurs based on their strengths and personalities. If you don’t want to bring in a partner, hire someone to fill in your “business gaps”, because it is exhausting to try to do everything yourself, and invariably whatever you’re not comfortable doing won’t get done for the business.
Plug into a community.
entrepreneurs to network at and collaborate. Women rely on relationships for support and happiness in life…it is no different in business. Finding a few female entrepreneur friends that you can talk business woes and successes with can make all the difference in your success.
Allow your friends and family to help you with research and any other aspects of your start-up, but beware of hiring them as employees. As women, we want to keep our friends and family happy, which makes managing them a nightmare.
The transition from friend to an employee to entitled can happen quickly and result in some tough decisions. I personally had to fire two friends-turned employees and we are no longer friends. Learn from my mistakes.
Strive for Balance.
It is incredibly easy to get completely wrapped up in your start-up, but it can also be suffocating and lead to tremendous amounts of guilt. Schedule time weekly to meet up with friends and family to maintain your relationships.
Trust me, if you don’t schedule time, it won’t happen. If you have children, earmark at least 3 evenings to hang out and simply enjoy them (and then go back to work after you tuck them in). I find that when I take time out from work to relax, my best ideas happen.
Be it music, art, exercise, or hobbies; you know what inspires your mind and soul. Don’t forget to feed that part of you to fuel your business and creativity. Personally, I have an inspirational quote board on Pinterest that I look through when I’m feeling drained or need that extra edge for a big meeting.
MissNowMrs.com is the premier online name-change service created to simplify the name-change process for brides and newlyweds nationwide. Our unique service guides brides through a series of questions, uses their answers to auto-populate all of their state and U.S. government name-change forms, as well as notification letters for all of their creditors, and then supplies detailed filing instructions for each form/letter. Our service accommodates every legal name-change option based on marriage, so brides can decide which name-change option works best for them.
ABOUT DANIELLE TATE
As a successful entrepreneur, Danielle is a name change expert, on-camera personality, writer, author of a top rated Google newlywed blog and a bridal magazine contributor. It was a 13-hour struggle to change her name after getting married in 2005 that prompted Danielle to leave her medical sales career to develop and launch MissNowMrs.com. Wanting to save other brides countless hours of hassle, Danielle researched name-changing laws and rules in all 50 states to streamline and implemented her unique three-step, 30-minute online service.
Since 2006, Danielle has served as CEO of MissNowMrs.com and revolutionized the online name change market. Since launching, MissNowMrs.com has assisted more than 150,000 brides in their transition from Miss to Mrs and recently launched MissNowMrs.com/Canada for Canadian brides. She is also the founder of MarriedNameGame.com, the original proprietary name change algorithm to determine your ideal married name, and GetYourNameBack.com, an online service dedicated to helping women get their name back after divorce. Danielle is also the co-founder of Sculpt Studio, a Megaformer studio in Bethesda, Maryland and partner in a non-profit organization that helps charities file tax exemption paperwork in multiple states.
Danielle has numerous television appearances. She has been interviewed on FOX National News, NBC DC News, KTLA-TV Morning News, Better TV, WBFF-TV Fox News, WBKO-TV ABC News, WJXT-TV News, and KTVK-TV “Good Morning Arizona.”
A big thank you to Danielle for sharing this with us!