WCWB Blog

Women decide to start their own business for many reasons and these reasons can change over time.

I have met a lot of women who have started an at-home business simply because they were mothers and couldn’t afford not to work. I was one of those women. Some women have spent too much time in the workforce feeling underpaid or unappreciated. Some have dreams and passions that only owning a business can provide. Lastly, some get pulled into co-owning a business with a partner or spouse. These motivating factors can change – the children are now grown, there is an impressive opportunity in the workforce you can’t pass up, there are too many challenges with co-ownership, a new passion has evolved, and so on. Some get into ownership and realize it’s not at all what was expected. Here are 5 ways you can make sure you stay motivated and secure in being a business owner.

PLAN

1. My motto continues to be, “if you fail to plan, you plan to fail.” Planning and researching before starting a business is crucial to being successful and maintaining motivation. A simple business plan increases your odds of success by 50%. You need to make goals for yourself – both monthly and yearly – so you can see and plan ahead. If you never thought out your business and why you wanted to start it in the first place, it’s not too late! Spend some time now thinking about your goals and why this is important to you. Create a pros and cons list on your current business.

KNOW

2. Nothing kills motivation than lack of knowledge. It’s a lot easier to do homework when you know the subject well. However, I remember many times procrastinating on work I didn’t understand or felt uncomfortable with. Knowing as much as possible beforehand is super effective in building confidence in ownership. Continually learning as you go is necessary to being on top of economic and technological changes that are promised to happen. School education, webinars, books, podcasts, and even successful people you know are just a few resources to keep yourself informed. You should build your knowledge simultaneously with your business.

ORGANIZE

3. Stay organized! Nothing kills a business faster than losing grip on the organization of financials, operations, and balanced family/work life. Your day should be scheduled out, your week scheduled out, and your month scheduled out. Everything is tracked and recorded. Everything is in its place and you have established boundaries to make sure you are maintaining family life and self-care. In the beginning of starting a business you may put in a lot of hours, but planning your day is the best way to make sure you get more work done and don’t over-burden yourself. If you reach burnout, the business will suffer immensely. 

TIME

4. Work smarter, not harder. There are so many way you can find loopholes to quicken work in your business. Many companies have moved out of using paper regularly. Paper slows things down and is costly. Using a simple software for financials – such as Quickbooks – is a lot quicker and organized than older methods. Reports are generated quickly when you need them. In-person meetings are still necessary, but many meetings can be done virtually and save time and decrease cost in travel. I have spent much of my career simplifying processes in operations so less time is utilized. I couldn’t believe how complex and inefficient some processes were. Time is money and if something seems to be taking too much of it, it’s time to re-evaluate a smarter option. 

DREAM

5. Continue to dream. A lack of vision is deadly for a business. Sometimes visions change or evolve over time, but there still needs to be a concrete vision for the business. Vision can be based on your impact on others, the solution you are creating, or overall innovation that is unique to others. Vision can also be driven by personal motives such as doing what you love, feeling you have a purpose, not being in the restrictions of a salary, flexibility in schedule, having no one to report to, building generational wealth, and so much more. Positive action comes from a positive vision.

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Keep all of these tips in mind as you progress in business ownership. Anyone can be successful, but it takes effort and strategy. Owning a business means that you are taking everything into your own hands. You are responsible for the decisions that must be made and how they will affect your business going forward. Utilize these strategies to maintain motivation and work hard to achieve your goals. If you are consistent and persistent, you will overcome!

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By: Ashley Whitley WCWB