The successful business woman: 6 must-know tips

This article was updated on July 15, 2022

With the month of March comes a celebration of Women's History. This month is dedicated to the achievements of powerful women in the past and the limitless potential of women today.

Whether you are just now registering as a woman-owned small business or you are already a successful woman entrepreneur, this article provides business tips to help you thrive within your industry. Read on to learn five things that successful businesswomen accomplish each day in the workplace.

Tips for success as a woman-owned small business

The history of savvy female entrepreneurs and successful businesswomen in the United States dates back centuries.

Take Mary Katherine Goddard for instance: during the midst of the American Revolution, Goddard became the first female publisher in America. She would become the first American woman postmaster in 1775 before printing the first copy of the Declaration of Independence with the names of all the signers in January 1777. That's a lot of firsts for a single female business owner.

Goddard was a revolutionary way ahead of her time-making herself an integral part of American history more than 150 years before women got the right to vote.

Today, we can channel the perseverance of Goddard and emulate her bravery in the face of adversity.

Suppose you're stuck in a rut wondering how to become a successful businesswoman like the Goddards before you. In that case, there are myriad actionable steps you can start taking today to achieve personal and professional success. Read on to discover the best traits of successful women entrepreneurs.

1. Build a community with like-minded women

No business person-woman or man-is an island. Successful business women understand that it takes a village to run a small business. No one understands that better than Kim Lawton, founder of Enthuse Marketing Group, a small women-owned business based in New York :

"When you launch your own business, you have to do every job-from accounting to production-and do it well. Most entrepreneurs don't have the full spectrum of expertise in jobs they must perform to grow a business. Fight the temptation to figure out everything on your own. There are plenty of women who have the skills you need, and they're willing and eager to help other women succeed."

When you're a businesswoman, building a community of support is essential. This support can look like a network of other entrepreneurs or simply good friends who will drop everything to help you make phone calls when things get busy at the office. As a female founder and business leader, one of the best things you can do is build your community.

Additionally, Lawton adds that having a support network can lead to wiser business decisions:

"Entrepreneurs often second-guess themselves and don't have anyone to bounce around ideas with, leading to missed opportunities. But when you know you have a supportive community to lean on, you feel empowered to take more, smarter risks."

However, sometimes building that network from scratch is easier said than done. If you find that you cannot easily access networking in person with like-minded female entrepreneurs, consider joining an online forum of other successful women entrepreneurs. Some online resources for female entrepreneurs include:

American Women's Business Association (AWBA) - ABWA's mission is to bring together businesswomen across multiple industries through education, networking, and leadership opportunities. As an ABWA member, you can seek out jobs or employees, and access exclusive events featuring highly qualified speakers from around the country, plus discounted courses and subscriptions.
The BOSS Network - This online resource empowers female entrepreneurs, especially the career development of women of color. The network hosts virtual seminars and networking events, giving members and partners incredible opportunities for brand exposure. Membership can get you a lifetime listing in the network's business directory, plus a feature in the BOSS spotlight blog.
National Association of Women Business Owners (NAWBO) - This organization represents over 10 million women working in a variety of industries and offers female entrepreneurs the opportunity to connect with influential voices in the business world. There are a number of membership packages you can invest in, with perks ranging from access to monthly webinars to be able to submit content to be printed in the organization's monthly newsletter (with over 30,000 subscribers).

External support is invaluable, but don't forget the value of the community you create as a female founder internally.

Kala Laos, the co-founder of the JK Realty firm, contributes her success to her team. She built a culture of grit, innovation, and positivity that fostered her team to feel like a family. With employees and partners rallying each other through every obstacle, you'll be able to face the ups and downs of small business life with poise and excitement.

2. Connect with your neighbors on Nextdoor

Whether you've been in business for decades or are just getting started, drumming up new customers will always be on your mind.

Nextdoor is a place where your local business can connect and engage with nearby customers.

As a business owner, you can easily create a Business Page on Nextdoor, free of charge.

These pages allow you to reach your most valuable customers instantly.

According to data gathered from Nextdoor:

67% of neighbors have shared recommendations with one another
88% of neighbors shop at a local business at least once a week

Once you've claimed your Business Page as a small business owner, customize it with photos, a description of your local business, the services you offer, and more. With Nextdoor, you can run promotions specifically for your neighbors, and boost your reputation by collecting recommendations.

3. Understand your market

Whether you're an accountant, contractor, dog-walker, or baker, understanding and analyzing your immediate competition can help you shape your own business.

For example, if there's another bakery that just opened down the street from your cupcake shop, check them out. Maybe their interior aesthetic is so warm and comforting, customers tend to linger, and keep purchasing items. As Kerry Guard, owner of the firm MKG Marketing points out:

"It feels like the tide is changing. We used to be so scared people would steal our ideas and go do it and maybe do it better. I'm finding now that more people are asking to learn from each other, and I think women are leading this open communication. We're not afraid to share our success and how we got there so that we can build each other up and learn from one another."

Taking cues from other businesses and leaders in your industry can help you build your brand and increase your revenue. By treating competition as inspiration, you'll open your business up to a whole new world of growth.

Staying informed about your market also means keeping an open mind. Just because your paint and sip shop is your lifelong dream project doesn't mean it best serves the customers in your area. Transitioning to a daytime cafe (with libations) and hosting occasional wine and design nights may be more profitable for you, and may be an ideal business idea to help you better connect with your clientele.

4. Focus on progress instead of perfection

To help you reach your business goals, focus on progress instead of perfection. As the owner of PRESS Modern Massage, Rachel Beider, says:

"Perfectionism can stall progress and movement in a major way. I've been able to hack my brain away from that trap by 'conducting experiments' to try something new. I might test something for a few weeks as an experiment, then come back to it and see how it did. I take action quickly when I get the results."

Focusing on progress can do amazing things for your business such as:

Foster a culture that prioritizes a growth-mindset
Make room for creativity and new strategies
Lay the groundwork for a practice of reflection and celebration of every milestone
Ease away the pressures of perfection so you can focus on moving forward

Though it might seem like a small shift, taking a creative and experimental approach to your business will result in innovation, insights, and growth.

5. Take care of yourself

As a successful businesswoman, running a business is stressful, regardless of who you are. But constant stress can have long-term negative consequences on both your health and your business. Take it from photographer and female entrepreneur Gracie Chambers, a branding and marketing consultant for small businesses:

"Remember: stress is inevitable, but not uncontrollable! Integrating balance, wellness, and self-care into your life today will make you a healthier, more productive, and more successful woman entrepreneur in the long run. After all, life's a marathon... not a sprint."

When it comes down to how to become a successful businesswoman, putting your mental and physical health first is essential. According to the Mayo Clinic, making your work the center of your life can have long-lasting negative effects, including:

Fatigue
Poor health
Lost time with loved ones

To better achieve a balance between workplace success and personal fulfillment, try setting limits and consider instituting some of the following practices for your woman-owned business :

Learn how to say "no" (yes, even to clients)
Don't be afraid to ask for help from a friend or a medical professional
Detach from work when you get home; make a rule not to answer the phone or open your email when you're off the clock

6. Make your own rules for success

If you're wondering how to be a successful businesswoman, there are actionable steps you can take to improve personally and professionally.

By building a community of like-minded women, connecting with other local businesses, understanding your market, focusing on progress, and putting yourself first, you'll find that success follows you wherever you go.

At the end of the day, the best advice you can follow is from your gut.

Remember that every individual measures success differently. If you want your own success story, it is important to define your niche and build a business plan that reflects it. Become a part of the women's entrepreneurship movement as it thrives in business today.

Every successful businesswoman has their own method, you just need to find and follow yours.

3 Powerful women leaders in business

You can learn so much by studying those that have worked their way to the place you want to be; look at some of today's most successful business women. Many have mastered the tips discussed above and continue to grow and inspire young women entrepreneurs.

1. Oprah Winfrey

Certainly, Oprah is a household name and an inspiring female entrepreneur. Born into poverty and raised in inner-city Milwaukee, Oprah emerged from her humble beginnings to become a successful entrepreneur, media personality, and generous philanthropist. Her genuine, often emotional communication style resonates well with viewers and helped her turn her talk show into a multifaceted brand and business empire.

2. Arianna Huffington

Leader, author, and empathetic visionary, Arianna Huffington started her own media company In 2005 at the age of 54. She grew The Huffington Post to nearly 25 million monthly visitors before it was acquired by AOL Inc. In 2016 she started another media and technology venture, Thrive Global, to help combat workplace stress and burnout.

3. Jessica Walsh

Our third successful female entrepreneur is a powerful graphic designer, art director, and educator. She started coding and designing at age 11, graduated from the prestigious Rhode Island School of Design, and landed a spot on Forbes's top 30 under 30. Her non-profit, Ladies, Wine & Design encourages greater diversity in creative leadership roles and promotes collaboration among women leaders rather than competition.

Build your business revolution with Nextdoor

Every small-business owner knows the power of their local community. From local customers to local vendors, your business thrives through these human connections every day. Extend your reach and tap into the power of your community with Nextdoor. Claiming your Business Page can help you connect with the customers who didn't know they needed you and establish you as the one-to-watch in your area. Claim your Business Page today.