26✭ 6 Ways Women Business Owners Can Catapult To Success - Anytime (2)

Women business owners are often supercharged with extra skills that can set their companies apart from the competition — if they have the right advice to capitalize on it.

Beryl Stafford, Founder and President of Bobo’s says the greatest challenge you face is likely in your own head — fear. But once you realize that you can be, do and have anything you want, these wise business tips will help you drive past those fears and catapult your company to success.

1. Taste & See

When no one knows your name, a taste is worth a million words. Nothing “tells” more about your brand than a personal experience, so investing in samples can often bring higher returns than even the best marketing plan money can buy.

Sampling is not a one-time event, however. You must follow up with more and keep prospects engaged, giving them many opportunities to form personal relationships with your products and services.

2. Network & Connect

Take advantage of every opportunity to connect because you never know who you might meet and what you’ll learn. This includes networking mixers, trade shows, meetings and more, whether they are virtual or in-person events.

“Trade shows give brands that are just starting out the opportunity to check out the competition, learn about new industry happenings, and meet existing and potential new partners who will help build up the company,” says Stafford.

3. Attracting Your Best Investors

As Stafford also says, it’s very important that your investors are aligned with your vision of the company’s growth. To help that process along, doing your own research in advance is key.

Search for local commerce organizations and angel-investor networks, as well as Facebook Groups for your industry and geographical area. This will help to narrow down the field so you can focus in on the best potential fits.

Finally, educate yourself on the funding rounds and understand where you are in the process. “‘Seed’ funding or angel investor funding is a common practice for startups in which a private investor will exchange equity in the company for capital. Next, this can be followed by Series A, B, and C funding rounds,” Stafford explains.

4. Practice - Pitch - Perfect

Always raise money from a position of strength — which means before you need it. Negotiating while in need puts you at a disadvantage, possibly allowing investors to take advantage of your company if they know you’re hurting for capital.

Practice pitching and selling now while you have nothing to lose and master these critical skills. The Women’s Venture Fund, an organization that offers training programs, one-on-one advisory services and business loans to women entrepreneurs, offers some great resources to explore.

5. Find Ways To Engage Your Tribe

Where there’s a will, there’s a way is more than an expression — it’s a recipe to survive and advance in the age of COVID. Shutdowns and social distancing have nixed many of the traditional ways of sharing samples, but opportunities to connect still exist, even if you have to create them.

As Stafford suggests, “Ideas can include sending products to influencers who have an engaged following, donating products to small local events and nonprofit organizations that cater to your target audience, or even creating an interactive, socially distant experience in a target market.”

6. Make Raving Fans with Marketing and PR

Identifying your target audience is key to positioning your brand, but it doesn’t have to be an arduous process in the beginning. Just ask yourself: Who are the people most likely to use my products and love my company? Who do I want to serve first — is it men, women, children, the elderly? As you grow, you can follow Stafford’s example and bring on a marketing team to go deeper, bringing in customer surveys to discover what makes them engage with your brand, and ultimately, buy from you.

She also mentions using PR as a tool to tell your brand’s story, once it is mature enough. It’s another great way to showcase to customers what your brand has to offer them.

All in all, getting clear about what you bring, both to the marketplace and to the boardroom, will help you attract loyal customers and the right investors. With diligent research and creative thinking, you can thrive in any conditions — even during a global pandemic.