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Lessons from female business owners

by Megan Iemma on March 15, 2015 , 1 comment

Lessons from female business owners

Part 1

key lessons from a female business ownerPart 1

Here are some of the important lessons from female business owners.  Two years on from setting up Tech Coach HQ and there are some things that I would have done differently when setting up Tech Coach HQ. Everyone goes into the business differently and two websites later, feel much more settled as a business owner.

 

  1. Learn the bad from the good…

You are not always going to be told the pitfalls you might face in a business and sometimes you can get overwhelmed or swamped by ‘good advice’. Sometimes you just have to do research to find out for yourself.

I have had a few clients lately with regards to social media who have hired ‘Social Media Experts’ but they are not being told the full picture. I don’t mind people outsourcing, in fact, one day I will be doing it myself in some sort of capacity within my business. My biggest problem at the moment is not understanding the basics before you outsource. A clear example at the moment, is handing over your social media management to someone else without understanding basic concepts of ‘Good Social Media vs Bad Social Media’.

If you do go through a bad experience, stop and REFLECT. Often there are lessons to be learned whether it’s how you work with your customers, balancing your budgets or marketing.

  1. Balance looks different for every person

I think a ‘balanced’ work/life looks different for every person. It’s not wrong or right, it’s just ‘different’. Sometimes you will get a rude awakening if you lean too far to one side.

Deadlines are often the thing that get me, when preparing for presentations. It is easier this year with both my kids at school in one form or another, which means I try and work between 9.30 and 3, but it hasn’t always been this way.

  1. Nurture your business (and yourself)

As a business owner and mum to two beautiful young girls, it’s hard to often step aside and leave your business alone. Sometimes it can be the silent ‘affair’ in your family and can take over quite easily. Boundaries in business is something that should be discussed and even written down when starting up a business (especially when you are working from home).

Make a conscious decision to put boundaries in place (at night time, if you can).  I love discussing the business with my husband at night time, but it can take over and there is more to our marriage and relationship than just talking about Tech Coach HQ.

  1. Celebrate your business

Celebrate your business with your friends and other business owners. I love LinkedIn groups and Facebook groups (Ultimate Business Support, my new Mastermind group and I am a business owner in Victoria). WIthout these groups my business would have struggled a lot more. Celebrate your victories however small they be as we all need to be encouraged.

Set some milestones for your business….my next one will be when we get to a certain number of invoices for the business.

  1. Don’t compromise your values or your price

I think this stuck true earlier in the year when I was challenged by one of my clients. In fact, several people had commented, are you really valuing your time? And the honest truth, I wasn’t. I have made a clear boundary in the sand for what my time is worth and unless I choose, that boundary stays. I think that this is a valuable lesson whether you are selling a product or a service (though I think it’s much harder as a service provider).

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Thanks to all the women in I am a business owner in Victoria Facebook page and my fellow women business owners most of whom I have connected through Facebook. What are three pieces of advice that you would give to someone starting out in business? Share below

Megan IemmaLessons from female business owners

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1 comment

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  • Dorothy - March 15, 2015 reply

    Network, network and network. Online and off-line, most of my work has come to me via word of mouth in some form or another. I moved towns just before I started my business “properly” and I am finally seeing the fruit of all the networking I threw myself into in the first 12 months. I have built some amazing relationships, friendships and even a business parthership.

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