Has it ever been your dream to start your own business or side hustle? Maybe, this could even flourish into something that is probably more profitable than your daytime job?
Well, gone are the days where only males dominated the entrepreneurship life.
Here are some quick statistics about female entrepreneurs: –
– The Global Entrepreneurship Monitor (GEM) reports that there has been steady progress in women owning established businesses at a worldwide stance of 6.2% compared to men at 95%.
– Compared to 20 years ago, there are 114% more women entrepreneurs in business now.
– Women have a 69.5% success rate of crowdfunding for their businesses, while men have a 61.4% success rate.
Being an entrepreneur can be fruitful and lucrative but hustling on the side of your day job isn’t for everyone, as it comes with a price.
More statistics on Women in Business:
Here are 7 female entrepreneurship advice for making small changes in your life when you want to succeed.
Managing Time Effectively
Take your time off as seriously as your hustle. Productivity is key for running a business, but how can a business run when its owner runs on an empty battery? Certain lifestyle changes for entrepreneurs are managing their time well enough to take a breather. Don’t get caught up replying to emails till 4/5 AM in the morning! Your mental health needs to take precedence because a truly happy version of yourself is a more productive one!
Self-care doesn’t need to have you spending $200 on skincare. Sue Glasscock, the co-founder of The Ranch, offers female entrepreneurship advice in taking 10 minutes a day to shut out “extra noise” that could agitate and stress us even more and spending more time in nature due to its stress-relieving properties.
Sacrificing Time with Friends
It is a bitter truth, but it is the reality of becoming a successful female entrepreneur. Reducing your time with others may grow your business faster as you invest your time and energy into your craft.
Of course, you don’t need to ignore your friends and family completely! What you should be focused on is creating a schedule that allocates 2-3 hours a day for your social time. If it helps, download the Google Calendar or Calendly app on your smartphone to organize your week’s rest.
Avoid going out to social gatherings and meetings that will cause you to feel lethargic and burnt out later on.
Grasp Every Opportunity You Have Away from Your Job
Time is of the essence. Although money can be an obstacle, it can be replaced. Time, however, cannot. Another entrepreneurial advice for any women starting up in the business game is that you’ll have to learn fast and apply whatever you have picked up along the way.
When’s the best time to learn? Well, look at the empty slots in your schedule. If you have 30 minutes or an hour or even 10 minutes between your busy day, take the time to introspect and understand your business.
Your weekends off a great time too. During this time, focus on catch up on your reading to keep up with – industry news, competitors move and market trends, listening to entrepreneurship podcasts, attending networking events, and more.
Time and Intensity Equals Accomplishment
Another simple lifestyle hack for entrepreneurs is to increase the intensity of your effort in producing more outcomes. Achieve more in one hour than others would in two hours.
The Pomodoro method teaches one to work with time, rather than against it, thus transforming lives for entrepreneurs in making them work smarter. When you need to get more work done, use the Pomodoro technique for 25 minutes of uninterrupted work sessions. Silent your phone, mute all emails from your laptop. Wrap up as much work as you can, and then reward yourself with a 5-minute break away from the computer.
There are times when 25 minutes of deep work can get more done than a 5-7-hour long day. So, use that technique wisely!
Do Not Enjoy the Money You Make in The Beginning
You may be itching to spend that first cheque you receive from your side hustle or to rely on it so that you could be free from your regular day-to-day job. Make money work for you, rather than to work for money.
Hang on to your first profits so that you won’t end up looking elsewhere when you require it for your business. Learn to reinvest your first profits into your entrepreneurial craft.
A bit of entrepreneurial advice for women in the game is to invest their profits into getting a mentor, purchasing a book, or even getting courses for continuous development.
Remember: hustle and save now, so that you could live lavishly later.
Always Hold Yourself Accountable
This entrepreneurial lifestyle change may require you to have a little more humility and proactivity onto your palette. Hold yourself accountable for all the things you did and all that you have not.
An accountability partner could be your best friend or a mentor or another fellow female entrepreneur. When you start having someone who can keep you accountable, you automatically have another person around that is devoted to your success!
Let’s say you’re handling a large-scale project. While a regular friend might not be aware of what you’re doing, a mentor is someone who can always steer you back in the right direction. He/she has the ability to connect you with the right people from the industry, make sure you’re reaching all expected goals, and get you to your desired result much faster.
Elevate Your Circle
Ever heard the term “you are who you mix with?” Just as you elevate your entrepreneurial lifestyle changes, you would also need to up your circle. It enables you to gain more from your time away from work and your business.
Surround yourself with like-minded, growth-oriented people who are honing their craft and building their business, helping you do the same. Make friends with aspirational peer groups, your business idols, get your hands on every podcast out there. Don’t compete. Help each other win.
Manifesting and becoming a female entrepreneur in an already male-dominated business world can be overwhelming, yet empowering. Therefore, it takes a special type of female entrepreneur to truly stand out from the crowd and accurately carry out her lifestyle changes.