Key skills a modern woman entrepreneur must have

Success for a female entrepreneur can be a challenge. But, with the right skills, you can evolve into a successful woman entrepreneur today.  

Businesses have evolved today. Running your own business means having to have a number of skills – like communication, planning, networking, marketing and sales and you need to know how to run a balanced account and continue to grow your wealth.

Though there are many business skills that a successful woman entrepreneur needs to l have, here are the ones that are absolutely necessary to make your business successful:

• Communication

Communication is an underlying skill for many business founders (sales included). As a good communicator, you will be able to cultivate loyal employees, charm customers into coming back time and time again, and court investors – for increasing revenue for your business. Women entrepreneurs, can through this skill, deal with vendors or any other necessary business services that may apply to the business venture. Being connected and friendly in business-to-business relationships is a sure-fire way to be good at different types of relations.

• Planning

One bad step can make or break your business, especially when it is still in the early stages of development. Women entrepreneurs, who are successful with their business ventures have to ensure this. They have to make a plan and stick to it, keeping every risk, benefit in mind; they also have to think out the cost of each option available to them. They must make their plans realistic. So, they must factor in things such as time and budget, in order to make their plans a reality.

• Customer Focus

Successful entrepreneurs keep a narrow focus–on the customer. Since the customer is king today, they should not forget that everything that they do is for the customer.  A good woman entrepreneur will always have time for a customer, whether it is a word of complaint or praise. Having good customer focus will mean that you see every customer as an opportunity to do better and grow, versus an annoyance or a difficulty.

• Networking

Today, women entrepreneurs look for business opportunities. They to be taken seriously and also need to be seen in places like: business conferences, startup events or corporate events. Networking events are great places to mingle with potential collaborators and investors.  You may have the opportunity to pitch an idea.  At the very least, this setting will let you walk away with newly gained insights from other business professionals. Investors, think tank representatives, and journalists are likely to attend.

• Pitching

Women are generally good communicators. But pitching a business plan is totally different. There are tiny nuances female entrepreneurs should master that make a pitch most effective. For instance, your tone, your body language, the points you cover – are all very important. It could involve writing down your pitch that is short, easy to understand and must also clearly and concisely describe your business plans. And then rehearse to perfect the act!

• Negotiating

Running any business, be it from a spare room in your house, or from a corporate headquarters – it requires negotiation skills. Good negotiation skills can help you win advantages such as: better funding from investors or creditors, vendor discounts and optimal employee benefits. So, brush up on your negotiation skills. Remember, business negotiation is a different game! In the words of Chester L Karrass, “In business as in life, you don’t get what you deserve, you get what you negotiate.”

•  Curiosity

Lastly, the best business skill has always been – a healthy curiosity. This will lead you to look into what your competitors are doing, and it will also allow you to utilize new technologies to the best of your ability – to streamline your business and even reach out to new customers. And, then – nothing is impossible.

Success for a female entrepreneurs can be a challenge. Often, women entrepreneurs have to push the envelope, farther than their male counterparts, to make their point!!