In case you haven’t noticed, we like keeping you on top of the latest women’s business news and this week is no exception. Check out some great tips for mothers venturing into business ownership and why 2014 is going to be your year.
With up to 44% of new businesses failing within their first three years, taking the step into the world of entrepreneurship can be a scary move especially for mums. With the additional burden of family life, mistakes can and will be made so we found a few tips to help you stay on top of the business side of things. Firstly, you need to know how you’re going to make money from your work by asking whether the service or product you are providing is marketable. Secondly, you need to know who you are selling your product to so you can target your marketing energy in their direction, expanding your customer base. For more handy tips on perfecting your business plan while the kids are at school, check out this article.
Forbes has tagged 2014 as a breakout year for female entrepreneurs, and rightly so. Last year, the number of $10-million-plus women-owned firms increased by 57%, and this trend isn’t slowing anytime soon. While the number of people investing in female run organisations is still considerably lower than male-run businesses, the numbers are increasing rapidly. According to the experts this is because women have the creative thinking, and team-building skills needed to establish strong and efficient companies. The stats are there to back this up, with research proving that venture-backed companies that include females in senior positions are more likely to succeed than those with only men in charge. Read up on all the reasons we’re putting our money on women’s business this year here.
The 2011 winner of the Prix Veuve Clicquot Businesswoman of the Year was the one and only Alexandra Knauer. Yet to hear of her work? In 1995 Knauer became the General Manager of her father’s company KNAUER, a company that specialises in designing laboratory equipment. In this role she worked hard to transform the father-daughter relationship into one of equal status, studying development, manufacturing and marketing techniques to assist her in this mission. Having faced the challenges of working with family, and proving herself by developing an effective quality management system, she eventually became the sole owner of the company. Read more on her story here.