“Do what you love and success will follow. Passion is the fuel behind a successful career”, said Margaret C. Whitman, former president, and CEO of Hewlett Packard Enterprise. This quote captures the essence of success, dedication and hard-work. You too can become a successful businesswoman like Whitman. Read on to know how.
Successful businesswomen are women who have made a name in the business world. They are role models for the younger generation, especially young girls and women, who often find it challenging to succeed in a predominantly ‘man’s’ world.
This article will discuss some essentials of running a successful business and will provide aspiring women, who want to become successful entrepreneurs, guidelines to build a profitable enterprise.
What does it take to become a successful businesswoman?
It takes effort and patience to achieve success in any field but when it comes to business, there are a few qualities which can help you achieve your targets faster. Some of these qualities which can help you in your journey are :
Hard Work – the first and foremost quality required for any successful venture is hard work. The willingness to put long hours into one’s project is essential for success. It is only through continuous hard work that you can succeed.
Perseverance – Success doesn’t happen overnight. One must dedicate oneself to a project before it can take shape. Sporadic effort may provide short-term benefits, but lasting success is through perseverance.
Out-of-the-box thinking – One of the most important aspects of entrepreneurial success is innovation. One must ensure that one’s product or service is unique. This will prove advantageous and help overcome competition in the market.
Ambition – Another important aspect of success is ambition. One must possess the desire and zeal to succeed. It is only then that a person is able to work hard continuously to achieve one’s goals.
Confidence – Confidence helps present a positive image for the clients. It helps instil trust and faith in the company. A confident personality will attract the right kind of attention over a jittery one.
6 Traits of Successful Businesswomen
There are certain qualities which differentiate between average and successful businesses. Given below are some of the traits that will help you in achieving success with your enterprise.
Belief in yourself – Mary Kay, founder of Mary Kay cosmetics said, “If you think you can, you can. And if you think you can’t, you’re right.” Self-belief is the single most important quality an entrepreneur can possess. Without it, the intended project is unsustainable.
Feedback – Entrepreneurs must be open to receiving feedback which includes any negative reviews. It is only through proper feedback that the shortcomings can be addressed, and the business prosper.
Self-Motivation – Running a successful business is not an easy job. There are ups and downs along the road, and it is easy to lose interest in the face of setbacks. The ability to keep oneself motivated is essential for success.
Avoiding burnout – Women in general have the burden of additional social responsibilities. As women entrepreneurs, it is important to practice a balance of personal and professional lives to preserve one’s mental and physical health.
Positive thinking – There are setbacks in every business. One has to maintain a positive state of mind to ride through the troughs. It becomes especially important in the case of women entrepreneurs, who already have to struggle against the glass ceiling.
Being Assertive – It is important, as businesswomen, to be assertive. One should express one’s thoughts without fears, and this will command the respect of fellow employees and partners. It also instils confidence in clients, which helps the business.
5 Most Successful Businesswomen
So far we have seen what it takes to build and run a successful business. Let us now look at some women who have conquered the business world with their innovative ideas and unrelenting efforts.
Kiran Mazumdar-Shaw – Kiran is the founder of biopharma company Biocon. The company went public in 2004 and reached $1 billion on its first trading day. According to Forbes, Mazumdar-Shaw is one of the richest self-made Indian women. She has a current net worth of $3.1 billion.
Zhang Xin – Co-founder and CEO of SOHO China, Xin is one of the most successful women in business, with a net worth of $2.8 billion. Xin has a background in economics from the universities of Sussex and Cambridge.
Janice Bryant Howroyd – Founder and CEO of ActOne, Howroyd’s company was the first black female led company to achieve greater than $1 billion annual revenue. One of America’s self-made women, her current net worth according to Forbes is $650 million.
Oprah Winfrey – Oprah Winfrey’s success story needs no introduction. She co-founded the cable station Oxygen Media. She is also the founder and CEO of OWN: Oprah Winfrey Network. Entrepreneur, talk-show host and activist, Winfrey’s net worth is $2.5 billion.
Rihanna – Singer turned entrepreneur, Rihanna’s company Fenty Beauty earned a revenue of more than $550 million in 2020. She is at the 21st spot on Forbes’s list of America’s self-made women. Her current value is at $1.7 billion.
Women have entered the business arena with a lot of success. There are many unicorn companies today which have been founded by women. There is an increasing percentage of women entering the market and successfully establishing businesses against all odds.
Although the extent of women in business is still quite limited, it is definitely on the rise. More and more women are entering the business arena and constantly shattering the glass ceiling as they occupy the highest positions in companies and lead businesses to success.