10 Leadership Tips Startup Entrepreneurs Should Know

An entrepreneur does not run a business with his or her acute business acumen alone: it comes with leadership skills.

Here are 10 tips for startup entrepreneurs:

Be a good example. Startup leadership entrepreneurs must be able to lead his or her business by example. Coming to work early and leaving the workplace late could send a message to the employees that their employer works, too. His or her work ethic must encourage others to follow his or her lead.

Exude confidence and optimism. A startup deals with what can be called a “baptism of fire.” There are challenges that a startup hurdles as it goes through the crucial first year of operation. In these trying months, an entrepreneur must exhibit confidence and optimism to encourage his or her staff to also believe in the company and the product or service. It is bad marketing for the company if an employee is himself or herself a non-believer.

Be a doer. An entrepreneur does not only deal with paperwork and financing of the business; he or she is also ready to roll up his or her sleeves and ready to do the work.

People are your asset. A successful entrepreneur knows that his or her greatest assets are people. A successful entrepreneur surrounds himself or herself with good-quality employees and experts. He or she values the opinions of his or her employees. He or she treats them as family, not servants.

Be tech-savvy. Every entrepreneur these days must be tech-savvy: must be able to do business using mobile devices, network with peers through Facebook, LinkedIn, Twitter, Instagram, among other social media; must recognize that business must conform with the sweeping changes in technology and employees must be attuned to these changes; must understand that the use of some applications or software could lead to better efficiency and productivity at the workplace.

Education is key. A successful entrepreneur sees the values of education; he or she constantly sends his or her employees to trainings to keep them highly skilled.

A leader commands respect. A successful and good leader not only commands respect but also inspires people.

Communication is important. No successful entrepreneur shuts down the lines of communication to his or her staff. Through a healthy conversation, an entrepreneur understands what his or her employees’ needs are and what they believe would make the business succeed.

Share blessings. A successful entrepreneur knows that the key to longevity in the business is getting the community to support his or her business. As a token of appreciation, an entrepreneur always has the best interest of the community in mind. He or she sees the community as a partner in building the business. Some big companies take their social responsibility seriously. A startup enterprise must see this responsibility as important early on, too.

Take calculated risks. A successful entrepreneur knows how and when to take calculated risks. He or she makes an informed decision before taking on any risk.

A successful entrepreneur knows that leading a business requires the right blend of character, business acumen and motivation to make the business succeed.

4 Startup Tips For New Entrepreneurs

There is a little more structure to being an entrepreneur as well, and it’s not all ‘flying loose and free… ‘ The name of the game is having a goal, seeing the big picture, developing a plan, learning and re-assessing constantly, being adaptable, and following through.

This article offers up a few tips and some practical help to guide you on the start of your enterprise.

1. If you’ve got a job, don’t quit straight away!

This is something which I did myself, and it really was the best thing to get me started. It allowed for me to start up allocating the time and finances I could afford to invest in the new venture, while maintaining a level of stability. It bought me the time to be able to make a few mistakes, learn the ropes, and become confident enough with the direction that things were moving in, to be comfortable with giving up the day job without going into a state of panic.

It can generally take around six months to a year, (if not more), to get a business going, and where it’s possible to develop this while benefiting from the regular income of a nine-to-five… I’d recommend you do just that!

2. Discover your ‘Thing!’

‘Sameness’ will get you nowhere… in a time where prospects have an incredible range of choice, and can look for the best deals available almost instantly, you really need to set yourself apart to get ahead. Consider how it might be possible to specialize… Find out what people need, and offer it in a way that others, (especially larger companies, who are more likely to be able to beat you on price), can’t or don’t!

3. Increase your Visibility

Consider all the ways in which you can create brand awareness and brand recognition. Aside from promoting yourself and your business in person, and locally, (offline), it is essential that you develop an online profile. It doesn’t matter if you don’t trade online, the internet is still a valuable tool allowing for you to extend your reach dramatically and rapidly. Draw up a list of every avenue you can use to promote yourself, and then devise a plan to utilise as many as possible of these. Remember to capitalise on free advertising avenues too.

4. Adapt & Stick with It!

In order to succeed you need to be creative, maintain a level of energy and stay motivated even when you hit obstacles and delays. Reflect on all that does not go to plan, learn, regroup, adapt, and persevere. Remember that a majority of the most successful people in business didn’t become overnight successes… it took time, effort and determination. With this mind-set, you’re in good stead for success!

Tips For Launching Your Own Business

This November will be my sixteenth-year anniversary of starting my own human resources consulting business. As I look back on the years, I am amazed at what I accomplished and learned. If you are thinking about starting a business, read on!

I always dreamed about having my own business, talked to friends about it, and imagined how it might be. But it was only after two women gave me a push, that I started doing instead of dreaming. First, my former boss said to me, when we were both thinking about moving on, “I never looked for a job, I always went out and created my own.” Given her advice, I hired a business coach to help me map out my next career steps. My coach saw my entrepreneurial spirit and encouraged me to start a business. So I moved from dreaming to doing.

The first few months of my business I spent setting up a legal structure, registering the business name, implementing an easy accounting system, setting up a business checking account, establishing a line of credit and obtaining business insurance. Each item was time consuming but not difficult. The more difficult work was writing my business plan and marketing plan. I talked to professional colleagues and volunteers at the Small Business Administration and SCORE, and read books on marketing. The process was slow because I was learning along the way, but I now use both business and marketing plans as daily roadmaps to guide my actions. One of the easier and fun parts of the first few months – for me, was working with a designer to create a logo, business cards, stationery, brochure and Web site.

I also started networking – an activity that never ceases. There are many organizations to join. The trick is figuring out which ones to choose. I finally decided on being involved with a half a dozen organizations, which can either bring me business or help me learn more about building my business or both.

One of the activities I worked on for months was my “elevator pitch,” which is answering the question, “What do you do?” so the listener understands and is interested. Now when people ask, I say, “I help people build great careers and help leaders build great companies.”

I also spent a lot of time creating processes to make my business run like a well-oiled machine. I have processes for making sales calls, following up, writing proposals and evaluating the results of the work I do.

In addition, three college students contacted me, and wanted to work with me as interns to learn my business and to help them with their careers. Having interns adds supervisory and coaching time, but their ideas and enthusiasm has paid off. In fact, my business tag line, Know-how. Right now, came out of a meeting in which we reviewed my marketing plan.

At a networking meeting, a colleague suggested that I consider joining the Women’s Business Development Center. After looking into it, I had my business certified as a women’s business enterprise. In addition to meeting other women business owners, I gained access to a member directory of businesses that are interested in doing business with women business owners.

For me, the biggest risk of starting my own business was financial. I went from a steady paycheck to a roller coaster ride of payments. Before starting my business, I sat down with my family and asked for their support to ride out the slow months. My husband and youngest child were supportive; my teenager who loved new clothes and CDs, etc, needed convincing. But since my oldest child has graduated from college and is making her own career decisions, I see my move as a way to show her how to live her dreams.

The rewards are significant. I am passionate about what I do. For all every business decision, I get to decide. My newfound freedom has unleashed my creative talents. And there is new meaning in what I do. My advice after my first years: If you are passionate about a business idea, knuckle down and go for it!

Tips To Open A Successful Coffee House

Opening a coffee house has good business prospects. The population of coffee drinkers is very large and this is the reason the coffee industry is booming. If you want to combine your love for this beverage with your entrepreneurial spirit, you should consider opening a coffee house.

Starting a coffee house needs a lot of considerations. You have to think about your margins, meeting industry standards, set targets for yourself and your staff, apply for correct licenses, marketing, budget and think of new products. Here are a few tips which can help you in opening a successful coffee shop:

Create a Business Plan– Your business plan should be fresh, unique and exciting. This will be your first step and explains what exactly your business will be, how it will be profitable, what your customer base will be, competitor study, growth plan and strategies to achieve your goals.

Location– Selecting a good location for your coffee shop is very important. A centrally located place which is easily accessible to people should be preferred.

Interiors– You should take care about creating a good floor plan for your coffee house. The interiors should be appealing and attract people of all ages. Everything should be placed properly and there should be ample seating space for people to spend some quality time while enjoying their cup of coffee.

Staff– The employees play a very important role in the success and failure of every business. You should properly train your employees to be helpful and courteous. They should be knowledgeable enough to help customers make an informed decision.

Coffee Roaster– A good coffee roaster will roast the coffee to perfection and deliver it to customers on time. He should also be trained to answer questions by email, social media and phone, throughout the day.

Love what you do– As the owner of the coffee house, you should love your work. When the owner is passionate about his job, the employees feel motivated and enthusiastic. This makes the whole experience enjoyable not only for you, but also for the customers and employees.

Marketing– Don’t want for the opening day to start your marketing efforts. The marketing should start months before you open. Some of the affordable marketing options include, offering free coffee samples at a few local events, making use of social media for promotion, giving advertisements in the local newspapers highlighting the unique things about your coffee house and sending discount coupons to local residents.

Price– Pricing can be a complicated issue. You should do a competitor study to know at what prices your competitors are selling different types of coffee.

You should be well aware of your business goals before you start the coffee house.

5 Essential Skills You Need to Survive in Today’s Business World

One of the most important skills you need to survive in today’s business world is the ability to learn and to learn very quickly. Once you are able to do that, it becomes easier for you to learn and to quickly grasp all other survival skills. The act of learning is every bit as important as what you learn. Believing that you can improve yourself and do things in the future that are beyond your current possibilities is exciting and fulfilling. Among the many skills you need, these here 5 skills are some of the most essential skills which can deliver the biggest payoff for your efforts at surviving in today’s business world.

01. Time management skills. Management experts have determined that one of the biggest things that get in the way of effective time management is the “tyranny of the urgent.” This is simply the tendency of little things that need doing now to get in the way of what really matters. If because of the supposed urgency of these little things you neglect other important matters, you end up spending more time doing things which will not help you to get the real work done. Learning to manage your time effectively is one essential skill you need to free up more time for you to perform optimally.

02. Ability to stay positive. I am the first to admit that it is hard to find the zeal to focus on the positive when positivity seems like nothing more than wishful thinking. Emotionally, the real obstacle to positivity is that our brains are hard-wired to look for and focus on threats for the sake of our survival as human beings. This survival mechanism serves us well when it is a matter of life and death. But, in today’s world, this mechanism breeds pessimism and negativity through the mind’s tendency to wander until it finds a real threat. It is really a mind thing and the mind is subject to everyone’s control. What you think about and focus on is thus subject to your own control. When you think positive, you stay positive. Thus, maintaining positivity is a daily challenge that requires real focus and attention. It pays to find ways to stay positive by deliberate efforts thereby preventing your brain from wandering off to fears and threats which it is naturally wired to look out for.

03. Emotional intelligence. Emotional intelligence is your ability to recognize and understand emotions in yourself and others and your ability to use this awareness to manage your behavior and relationships. It is a skill you can learn. Doing business is all about managing behaviors and relationships. Even though it may seem intangible, emotional intelligence is that something we all need to manage behavior, navigate social complexities, and make personal decisions that make positive results. In every field of human endeavor particularly in business, emotional intelligence is the critical reason that sets star performers apart from the rest of the pack. It distinguishes between genius and mediocrity, between high achievers and non performers.

04. Listening skills. I once heard that the reason we have two ears and one mouth is because we are naturally expected to listen twice as much as we talk. Sure, it can feel so good to unload on somebody and let them know what you really think, but that good feeling is temporary because when you are at it, you can hardly know what the other person is saying. True listening is one effective way to focus solely on what the other person is saying and to think about a clear response strategy. It is about understanding, not rebuttal or comments. Learning how to delay judgment and focus on understanding the other person’s response is one of the most important skills you can develop. In plain words, if you are not skillful enough to decipher valuable information from the other person’s tone of voice, body language, and what isn’t said, you could get left out of the game easily.

05. Ability to take initiative. Initiative is the ability to take action without prompting. If you acquire the skill, it will take you far in business and in life. Anyone can always take initiative if they find ways to get over other things which usually get in the way. Knowing what to do and getting it done in spite of obstacles, requires initiative. In the business world, it is inevitable that you have to take risks and push yourself out of your comfort zone, until taking initiative becomes second nature to you. That is one great way to survive out there.

Sule Yesufu, a Certified Speaking Professional, has been a Strategic Partner in S D Y Management Consult, a firm of Investment, Small Business and Entrepreneurial Consultants since 1999. He is a Published Author and a Newspaper Columnist. An expert in Small Business and Personal Development, he focuses on communicating his ideas and thoughts mostly through his Training Seminars and popular free blog. He offers useful tips on Self-Improvement, Personal Finance, Entrepreneurship, Current News, Politics and Business in Nigeria, the most populous and vibrant country in Africa.

2 Strategies to Totally Own Your Business Culture

Someone asked me recently about the business culture for my companies. He wanted to know since he was looking to develop a start-up social enterprise. He wanted to see about incorporating some of the elements that we’ve found successful.

Here’s the deal: you can’t just take someone else’s business culture. You have to create your own.

There are two simple ways to do this.

Begin by looking at who you are as a CEO.

What makes you tick? What types of people give you energy? Alternately, what irritates you? Do you see yourself as someone who only wants to see production and there’s no room for creativity or innovation? Or, do you want your team to think through problems and come to you with solutions?

I told this person to look at Amazon and Virgin. These are two companies that operate with very different cultures.

Jeff Bezos makes no apologies for Amazon’s grueling work environment. People cry at their desks. Everything is metrics driven. People are looking to best each other because that’s the only way to get ahead-be better than your teammate. Bezos has said it himself, if you’re in his company and you don’t like working there because of the extreme pressure and work environment, leave.

He’s not going to change his company’s culture to satisfy the critics.

Why should he?

It works. Amazon is one of the largest companies in the world and they continue to grow and move into other territories.

On the other side of the coin, you have someone like Richard Branson. Make no mistake, Branson’s company is also demanding. There is no success without pressure, but his company is more aligned to Branson’s own cult of personality.

At Virgin, there’s a lot of talk and indoctrination about the “Virgin culture.” They hire people who are very passionate about Virgin and Branson himself. They create an environment that is fun and dynamic, but highly customer driven. Like their leader, there’s warmth and friendliness by working at Virgin.

These two companies could not be more different. At Amazon, I think you’re going to be hard pressed to find someone on staff who says the culture is warm and friendly. At Virgin, I think you’d have trouble finding someone who says everything is about the metrics and competing against each other.

Both companies, however, embody their founders. Neither company’s culture is right or wrong. They’re just different. And, more importantly, both companies own the culture and tone set by Bezos and Branson.

Recruit the best possible staff

Once you’ve looked in the mirror and had an honest internal discussion with yourself, you then recruit the absolute best. But here’s the thing, someone that would be great at Amazon, doing the same exact function, may not be great or even fit with the Virgin culture.

So, when you’re hiring staff, you have to keep this in mind. If you’re clear about your company culture, you can then be clear about the type of people you should be hiring. If you’re a top down manager who’s purely interested in performance, then you’re looking to hire a team of people who excel in that type of environment.

Don’t waste your time hiring people who wouldn’t fit in with your company culture. You do this by being transparent about the work environment with prospective new hires. You ask them if they would appreciate or have ever worked in your type of environment. You ask for examples of how they would handle things and look for answers that align with how you expect issues to be handled.

If, on the other hand, you’re looking for creative and innovative people, those are qualities that you should make sure your team members possess. Again, you have to ask the right questions from the outset.

We all know companies rise and fall with the successes and failures of their teams. If you’re hiring people who don’t fit into the culture, they’re not going to succeed. And, by extension, neither are you.

What Is the First Step to Take When You Want to Start a Business?

I’ve been meeting a lot of people who are tired of their corporate jobs and are now thinking that maybe they want to work for themselves and open their own business. If you are exploring the idea of opening your own business, do you know what the first steps are?

You may think that you need to incorporate, get office or retail space, get employees, get financing, and get started right away. I take a different approach with my start-up business clients. I ask them first to tell me about their business idea.

Every business needs to make a product or offer a service that someone wants to pay money to buy. If you can’t say what your product or service is, then you can’t sell it to anyone. If you don’t know whether people will buy it, then you don’t have a business, you have a hobby. So, my recommendation is to first decide what your new business will sell and then find out whether people will buy it.

This means that you must do some market research about your product or service before you quit your corporate job. Your new product or service doesn’t have to be new or unique but you must figure out what you will be doing differently from other companies that will make people want to buy your product or service rather than theirs. You need to do some research about your competition, decide who you want to be the buyers of your product or service, and how you will differentiate yourself from other businesses who sell the same or similar product or service.

Or if you have an idea for a new product or service, talk to people you know and ask them if they would buy your product or service. You may find out that your perceived competition has bad customer service and that is an area on which you can build your marketing around. You may originally think that you want to sell to a certain segment of your town’s population but find out there aren’t enough of them to give you the income that you need. Or you can discover that your idea fills an unmet need in your area and people keep saying they would love to buy your product or service if it were available. That’s a great sign that you have a good idea for a new business.

Only by thinking through the product or service and its target market can you decide whether you should even start a business with that service or product. If you learn about some very successful start-ups, you will find out that sometimes the owners started in one direction and then moved into a completely different business.

Once you find your product or service, understand who your target customer is, and learn how much you can charge for your product or service, do you take the next steps to starting your business.

As a business lawyer, of course, I can help you with the incorporation of your business and give you legal advice on your contracts. But, I want to help you be a successful client so I always start with whether you’ve thought through your business idea.

The Hidden Costs: 5 Key Considerations When Starting a Business

So, you want to start a business and are wondering where to begin and what it will cost… most would advise that you start with putting together a business plan, and I don’t contest that… you should, but it’s essential that you’re aware that most business plans, including all the research and financials that they include, do not give you an overall picture of what your start-up costs will be. This article gives an overview of the ways to determine, realistically, what the costs involved in setting up a business will be.

A solid plan? Probably not! A well-formed, flexibly applied plan? Absolutely!

It’s true that the usual manner in which businesses start up, is through an opportunity being identified, determining the ways in which this opportunity can be milked for all it’s worth, (carefully explained in the business plan), and figuring out how much capital is required in order to build the business as outlined in the above-mentioned business plan.

Whilst this is ‘the usual’ and can often work, there is one flaw with this model… It is all developed on the premise that the business will work out right, and as planned, the first time! The reality, is that it is exceptionally rare that everything goes exactly to plan, and most often, even if it does, it’s not first time around.

Often, between the time that a business plan is written, and the time comes to implement, it’s hardly worth the paper it’s written on. Harsh, but true.

In order to more accurately, and relevantly determine your start-up costs, it is essential that you reflectively review assumptions held within the business plan, and be prepared to adapt toward a more flexible approach. Now by no means am I advocating that you don’t need a business plan… I think they are immensely helpful for allowing us to consider as many of the elements required in starting and growing a business as possible… but the plan is only as good as the action you take, and to get the greatest return on action, having plans that are relevant and based on the most current context is key.

Part of your plan should always be to revise the plan… You may have to change things repeatedly as you learn more, determine the impact of what you’ve learned in your business, and then add it to the plan accordingly.

Consider Scaling Down and Pilots

I know what it’s like… you have a fantastic business idea, you see the potential, you see how great it can be, and you want to put in all you can to make that vision a reality. While this is the only way to go for some business concepts which are pretty much, ‘Go Big, or Go Home,’ this isn’t always the case.

Where it’s possible, consider the option of scaling down, and testing the concept. This will allow for you to start up, while saving money, learning from the pilot and being able to action changes, and raise more funds based on proof of concept. This approach not only reduces start-up costs but provides valuable insight around the business, in real terms. It may not generate much profit, but it will offer a wealth of verified information that will help you to determine the next steps… If you decide to proceed with expansion, it is a great basis for second stage funding.

Consider Realistic Timelines and Pricing

Part of calculating your start-up costs will involve figuring out your initial cash flow. Without having actually operated the business this can be tricky. It’s also not uncommon to fall into the trap of under-pricing products and services in order to stand a better chance of competing, and to ‘tempt’ in more business. Be aware that you don’t necessarily need to do this. If you do, raising prices to the market standard could become difficult at a later stage, and you’ll have to do a lot more work in order to break even. My advice- recognise your worth, and price it accordingly.

Consider a Realistic Time-frame for Starting-up

Time is always potential money, and when you’re starting in business, this is true even more. If you’re going to have fixed costs like property leases, if improvements or modifications are required prior to opening this impacts on both time, and money (quite directly). These additional costs add to your start-up costs, but also add to the time before you can start earning. Don’t fall into the trap of under-estimating when you’ll be ready to trade, and build in a good time cushion before you ‘need’ to see funds coming in from business activities. Failure to do so could result in a significant amount of stress, and in some instances, can even result in a business shutting down before it’s even had the chance to take off, simply because there wasn’t enough time allowed to give it a chance to get going.

Consider the Cost of Money

Many entrepreneurs who have a great idea that they believe strongly in, will make the decision to finance the business themselves. At times, this can be at great personal cost, using the credit on credit cards or loans, and tapping into equity from homes etc. While for some smaller ventures the impact may be negligible, for larger ventures, self-financing should be considered exceptionally carefully before committing to this option. If funds are in abundance and potential delays, changes, etc. will have little impact and will be offset by the return, however long it may take… then go for it! If this is not the case, and any delays and progress are not going to plan will cause a great deal of personal and financial strain that could jeopardise business success anyway, then definitely consider other options.

To Conclude…

As you can tell, starting a business does not begin and end with a business plan, but goes beyond that to wider considerations. This article lists some of these.

Challenges Faced By Entrepreneurs During Market Expansion

While launching their entrepreneurial ventures, business owners require wearing many hats. It is not just enough to determine business locations, but also imperative to identify the niche market. Ever-evolving consumer markets make business expansion quite a tricky affair. Entrepreneurs need to adapt to changes in market forces, alongside keeping up with the changing preferences of their niche customers.
Quite naturally, it creates a huge demand for agile business performances. And that is only possible if business owners are successful in overcoming the critical challenges while entering new markets.

On that note, let us start by discussing the severe challenges faced by entrepreneurs during market expansion, followed by the crucial steps needed to overcome them.

1. Understanding the challenges

Entering into a completely new business domain is not without its fair share of challenges. The success of an enterprise depends on its capacity for meeting such challenges.

I. Additional costs: The creation and development of new marketing materials, resource allocation and location determination inevitably gives birth to huge upfront costs. Such additional expenses are enough to strain the financial resources of businesses.

II. Product modifications: While launching products in new markets, entrepreneurs will need to keep specific customer choices in mind. That might lead to product modification, which is quite cumbersome at times.

III. Market information and study: Studying a new market and its trends will prove to be much tougher than assessing domestic markets. As an entrepreneur, you will need to gather information on market forces, business practices, and several other factors.

2. The probable solutions

With such critical shortcomings on the business front, what it is that you can do for your business? Breeze through the following points and know the probable solutions

3. Understanding competition

If you are overlooking your competitors in the new market, you are seriously making a grave mistake. By analyzing your market competition, you will discover profit avenues for your business.

Perform critical assessments on the weaknesses, strengths, threats, and capabilities of your competitors. You will inevitably identify their performance gaps, thus translating them into profit avenues.

4. Steer clear of price comparisons

There is no denying the significance of target consumers for your business. While preparing to enter new markets; incorporate client-centric approaches and steer clear of making price comparisons.

At the end of the day, it is your service that counts and not always its price.

5. Develop resourceful networks

Your power to build and maintain resourceful business networks will take your objectives forward. By developing strong business networks, you will get an idea of emerging market opportunities as well as profitable partnerships.

A careful consideration of all these aspects will surely result in highly successful business expansions.

How Well Do You Treat Your Business Ideas?

Do you do give your business ideas a chance to flourish? Or do you easily surrender to negative influences?

Before discarding an idea, you need to remember that every business, every manufactured article, every thriving service began as an idea, as author Richard Bauman notes. So when you have an idea for doing something in a more efficient, economical, or quicker manner, and want to market it, don’t let others dishearten you. Before giving up, make sure you have conducted proper research which has convinced you that it is not going to work.

Your Sales Pitch

Every idea which entails changing standard practices, launching a brand new product or offering a new service requires funding; in other words, you will have to sell it to others. So you’d better be prepared for your sales pitch. This means doing your research meticulously. You need to predict questions and doubts and be ready to argue with facts, not viewpoints. So it is important to be adequately prepared to discuss not only what you intend to do, but also the reason why your idea is preferable to what is now available or standard practice. It also important to remember that the presentation of charts, pictures, statistics and working models can be convincing.

If your idea is rejected, you can present it elsewhere- it may take some time before you meet the people who will be receptive to it. Some of your ideas won’t be sensible and will justifiably be rejected. But others will be extraordinary and deserve to be tried out. At any rate, don’t be influenced by those who will easily dismiss it. There are many examples of people who faced the rejection of brilliant ideas, including inventors such as Thomas Edison, and writers such as J.K. Rowling.

Why Your Brilliant Idea is Turned Down

Your idea may be turned down not because the person to whom it is presented is not clever enough; they just may feel comfortable with the way things are and be afraid of change. So they prefer to be blind to the potential of your idea; they shield themselves from disruption, because it challenges their familiar world, the privileges and comfort already enjoyed in it. They fail to acknowledge that their world too can benefit from your brilliant idea.

As a woman entrepreneur, you may also face some additional reservations about your business ideas. So it is helpful to seek and leverage the power of a like-minded community having similar issues: Several women are still having trouble securing funding for their startups – including celebrities who have decided to begin a new venture. You may need to build this community from scratch – but it will be a rewarding endeavour.