How to ensure long-term business success, as a female entrepreneur.

Starting a business is filled with endless lessons and turning points. As a female business founder or entrepreneur you may face extra hurdles hindering your chance to succeed. By following continually focusing on these 4 aspects of your business, you'll be more equip to face challenges and create a strong foundation for your future success. The first three years are pivotal for shaping the foundation of your venture - so let's get it right.

1. Hone Your Vision and Mission

Your business is a reflection of your vision and values. By developing your mission and vision statements, they will become your guiding lights for future decisions and will resonate with the customers and employees you attract.

Regularly revisit and refine your vision and mission statements during your entrepreneurial experience, developing it until it completely defines what you're all about. Change isn't always a bad thing when it comes to startups, but how we respond to the need for change is crucial. By being open minded and honing your vision and mission, you stay aligned with your evolving goals and the market until your reach success.

2. Build a Stellar Team

No successful business is a solo act and surrounding yourself with a talented team who complement your skills, will cultivate a positive and collaborative work environment from day one.

Knowing you don't need to be a one man band may also be a turning point for you to get where you want to be. It may be hard to let go of some aspects of work when it comes to your own startup, but understanding your skill set, and finding the right team to pick up where you may lack will create a team that works seamlessly together on the road to success. By bringing diverse perspectives and a committed team to your business, you’ll build a foundation that thrives on employee satisfaction, see's exemplary team retention and hits your business targets. So take look at your current situation, could you use some support?

3. Embrace Adaptability - replacing the word ‘failure’

In the business world adaptability is your superpower, so here's a challenge for you: Replace the word ‘failure’ with ‘adaptable’.

Just because you've experienced a setback, doesn't mean your business isn't going to make it. It's how we respond to these experiences that will make or break your startup experience. Be ready to pivot (yes, with the same determination as ross from friends) in response to your setbacks, understand market trends, listen to your customer feedback, and use your ‘failures’ as learning curves to refine your business model based on real-world feedback.

This flexibility will ultimately position your business as an industry leader capable of innovation and resilience. ?Don’t believe us? You should - When Sarah Blakely started Spanx, she "knocked on hundreds of manufacturers' doors, getting them slammed in my face" before finding one who said “yes."

4. Prioritise Customer Feedback and Experience

Your target audience is your lifeline - without your consumers, your business can't make it to the next level. Responding appropriately to feedback is one thing, but if you're not actively seeking their feedback you're missing an opportunity.

Leverage digital platforms and start gathering information to guide your decisions. Whether this is offering an incentive for a review, including how you heard about us questions during your purchase automations or using email marketing to encourage reviews, by making the most of your ocial media and direct communication channels, you'll stay connected and responsive to your audiences preferences and changing needs. Use this process to refine your offering, improve customer experience, and build brand loyalty.

Summary

All in all, the first three years are make-or-break for your business. Through focusing on refining your vision, building a strong team, embracing adaptability and prioritising customer feedback, your businesses will have a strong foundation that functions autonomously, meaning you can focus on breaking through walls and getting yourself heard in the startup arena.