Women only make up for 1/3rd of the entrepreneurs we have today. Living in the 21st generation, influenced by western cultures, and living life with an open mind still does not change the situation for the better significantly. The statistics are discouraging despite all efforts from the society as well as the governments. Even though there has been a positive change due to education, industrialization, globalization and modernization, incentives are not all that they require.
They are equally creative as the males but their risk-taking capacity is low hence they often do not commercialize their ideas. They must make the most of the opportunities they get due to these positive changes but the go-getter outlook, typical for an entrepreneur, only comes when you become passionate, ready to beat all obstacles.
By taking inspiration from successful women entrepreneurs who have made a mark in the field of business, we can motivate those females who are aspiring entrepreneurs but hesitant.
We spoke to four leading women entrepreneurs who have created a mark in their sectors- fashion, health and jewelry- being candid about their journeys and success stories. These phenomenal women have several tips for the new-age dreamers who want to achieve high in entrepreneurial endeavors.
Tanya Jain, who has successfully juxtaposed comfort and style with her chic line of everyday clothing at Pasithea, believes that ‘leadership, patience and listening skills’ are key to becoming a successful entrepreneur. Treading along the same lines, Mrs. Supriya Sampath with her unique collection of diamond jewelry at Ketan Diamonds, describes entrepreneurs as ‘risk-takers and highly passionate’ individuals.
Another steadfast businesswoman, Madhulika Mehta, who has excelled with her line of fusion Indo-western clothing styles at Satin Vogue, is of the opinion that one needs to be ‘confident and smart’ to be able to deal with the everyday challenges that an entrepreneur encounters.
Dietician Divya Chanda, who is on a mission to promote a healthy lifestyle through her company Just Health And U, stresses the importance of hard work and courage.
Their learnings and experiences are ground-breaking. Let us look at some of the key takeaways which can serve to be useful for young women leaders who want to create a path of their own:
It is a rocky road in the beginning!
When one begins to establish their business, one tends to be bubbling with enthusiasm. However, as these four entrepreneurs have stressed on the importance of the virtue of patience, one must take it slow.
“My biggest learning as an entrepreneur is that the beginning is always slow and everything takes time. There is no reason to rush things up or give up in the middle,” says Tanya Jain.
Be optimistic and focused
Being too bothered about failures is two-steps backward in the journey of a successful entrepreneurial undertaking.
Mrs. Supriya Sampat, the lady behind Ketan Diamonds, says that entrepreneurship is a ‘complex phenomenon’ which is influenced by both internal and external factors.
“My biggest learning as an entrepreneur has been to stay focused don’t think about failing just be more optimistic and strive hard every single day to achieve your goals,” she added.
Learn and grow every day
All these four women in leading businesses have emphasized the need to treat every day as an opportunity to learn.
Divya Chadha of Just Health And U has said that her experience has led her to develop an attitude of learning every day.
Be prepared to deal with challenges with a smiling face!
One needs to effectively troubleshoot in order to deal with the numerous obstacles that are thrown in the way of developing a business idea. Confidence, conviction and presence of mind are handy skills.
Dietician Divya Chadha says, “As an entrepreneur, many challenges turn up every day and you need to be confident and smart in order to tackle them. This brand has brought out immense confidence and conviction in me to handle all complex problems with a cheerful smile on the face.”
Be accountable for your decisions!
An entrepreneur needs to make difficult decisions and leadership skills demand a sense of accountability and responsibility towards his/her team.
“The single most important learning as an entrepreneur from my experience is the sense of responsibility- I am accountable for my action of judgment,” says Madhulika Mehta of Satin Vogue.
Try to inculcate different perspectives
Seeing the world from various perspectives enhances a holistic understanding of any new undertakings, believes Tanya Jain. She emphasizes on the need to involve in social activities like teaching children and being a voracious reader in order to broaden one’s horizon.
“There is a lot to learn, whether it comes from reading or people, it helps to develop your personal and professional skills,” she adds.
Brainstorming, strategizing and networking is just as important!
Mrs. Supriya Sampath advises entrepreneurs to be wise about time management. One must not devote all time to increase revenue or the market reach of the company.
“Apart from the routine tasks in hand, an entrepreneur should spend time in brainstorming with key people about introducing a new product, bringing something new to the market, formulating new strategies to improve the business and strategizing the next marketing move, etc. Entrepreneurs should also do a lot of networking and studying other businesses and mentoring someone in need as well’” she says.
Maintain a healthy work-life balance!
Many have pointed out that the woes of this generation to over-work. Young aspiring entrepreneurs tend to get carried away with their passion and end up affecting their physical and mental health.
“It’s also very important to take some time off, spend quality time with family and take care of one’s own health. They must try to keep a healthy work-life balance,” says Mrs. Sampat.
Being well-versed with one’s weaknesses and strengths make an individual a prodigious leader and an efficient team player. Introspection is a soft skill that can help one maintain sanity.
“Entrepreneurs should invest more of their time in understanding themselves in order to identify their qualities and weaknesses so that they can utilize their abilities in an efficient way,” says Divya Chadha.
Add a bit of your personality to the business!
It is incumbent upon an entrepreneur to add a personal touch to her business! After all, the dedication and effort that goes behind a start-up require an emotional engagement with the same.
“I would request any prospective entrepreneur to do work personally as far as possible. Unless one does anything personally, one will not understand the nitty-gritty of the practical world,” says Madhulika Mehta.
Lastly, don’t forget confidence, patience and presence of mind!
All of these four leading ladies in business have reiterated the need for these three essential virtues for a successful business.
So, all the aspiring women entrepreneurs looking for their wings to spread wider must focus on these golden words which can help them learn and grow.