5 pieces of advice for start-ups (from successful female entrepreneurs)
A list of 5 by Shenelva Abigail Booij
1. Lisa Price (Founder of ‘Carol’s Daughter’ and Cosmetics Industry entrepreneur)
“ When you get to the point of getting a loan for your startup you should have a plan ready on how to pay the money back. So if your idea is to get this loan to fulfill ‘plan X’, don’t let ‘plan X’ be the source of how you’re going to pay the loan back. Know that you can pay the loan back even if ‘plan X’ doesn’t materialize because there’s always a chance that ‘plan X’ won’t.”
What Lisa is trying to explain is that when you get a loan it’s important to make sure a secure financial backup plan is in place in case things don’t work out as planned. This also includes plans and projects that might seem like they’ll succeed.
2. Monique Caradine (Media industry entrepreneur, Activist, Journalist and Motivational speaker)
“ Invest in high level coaching and mentoring. Success is a team sport. You can not reach exceptional levels of success alone. You need to have someone there to do the spotting for you and helping you see the blind spots so that you can move forward.”
Coaching and mentoring can result in a lot of benefits for you and your company(employees). Such as providing for a safe work environment where growing and learning is stimulated. Not only will the team start to function better in ways of open communication and connection towards and with each other, the employees also get the chance to develop personally in finding their weaknesses and strengths.
3. Valorie Burton (Founder of the CaPP institute, Author and Certified executive and personal coach)
“ Understand the power of your thoughts. You’ll find out that many are automatic and you’ve had them for so long that you don’t even realize that you may be sabotaging your own success.”
Looking at obstacles in new and fresh ways can help you find solutions to problems you wouldn’t naturally think of because of your automatic thoughts and responses. A lot of times people tend to respond out of fear of failure and choose the safe roads so that they don’t have to take (new) risks. This will stop you from being able to grow personally or business wise. Most of the times success is born out of risks and refined from failure. So shift your mindset every now and then. Look and approach situations from different angles.
4. Oprah Winfrey (Media proprietor, Talk show host, Actress and Producer)
“Every time you see other people being successful in what they do remember to step up your game. The way to step up your game is not about worrying about “the other guy” in any situation because you can’t control the other guy. You only have control over yourself. It’s like running a race. To turn around and look back to see where the other guys are takes energy away from you and if they’re too close it will scare you. So don’t waste your time on looking back where the other guys are and what they’re doing. It’s about what you can do. You just need to run your race as hard as you can.”
When you see other people prospering and reaching their goal applaud them but don’t stop running. Use it as new motivation that is going to energize you and don’t turn around to see the others running behind you, this will slow you down and cost you unnecessary energy. Focus on your own race and goal. Everyone and every business is running their own race and has their own struggles and obstacles you might not know about.
5. Christine Wallace (Motivational speaker, Forbes writer, VP of growth at Bionic and Founder of BridgeUp: STEM)
“Think of the startup community as high school: You've got your freshman, sophomores, juniors, seniors, and then teachers and staff. When you first enter the community, whether as a founder or an employee, you're a freshman. By all means, develop relationships with mentors and more senior, experienced people, but also foster relationships with people just one or two steps ahead of you. Ask them the 'stupid' questions and the things that seem silly or small; soon enough you'll be the sophomore or junior and pulling the newbies up the ladder with you.”
Don’t be afraid to ask for help. Your business or career don’t have to be a competition with others. Combining powers and collaborating will get you much further. Find a mentor to teach you all the ropes of your position and profession. They can teach you about the obstacles and situations they’ve learned from in the past and how to deal with them. This can save you a big amount of time and prevent you from using your energy to unnecessary problems.