Career Advice for New Women Entrepreneurs

If small business is the heart of the emerging business economy, then women entrepreneurs are its pulsating heartbeat. Despite the economic malaise riveting the headlines, women business owners are outpacing men 2 to 1 with their visions of financial freedom. From financing tips to business plans, beat the small business blues with a 3^rd generation entrepreneur's career advice for new women entrepreneurs.

Career Advice for New Women Entrepreneurs # 1:

Create a big idea that helps millions of people and investors will throw money at your manicured feet.

Donald Trump once said that it's easier to raise 100 million dollars than it is ask for 1 million. He's right. Most angel investors and venture capitalists will rally around a big idea with a chance to make history and maximize their investment, instead of a small business with 50 customers that will fizzle out in 1 year.

Think big as a new woman entrepreneur. Rather that starting a blog, fashion line or consulting company that will serve only 500 women, create a media company, make-up line, or clothing store that will help 25 million women distribute their products, manage their stress, save money or increase their self esteem. Investors will "show you the money" if you think like McDonald's 10 billion burgers served, instead of a fledgling seamstress with 5 dresses sewn.

Career Advice for New Women Entrepreneurs # 2:

Create a great marketing-based name first, an operations plan second followed by the business plan.

The business plan is an analysis of projected sales, your experience, finances required and the viability of your idea. Its primary focus is the future. Banks and investors will be interested in your future income statements, experience and marketing approach first. The operations plan, however tells investors how you plan to run your business, now.

A timely tip for the new woman entrepreneur: The operations plan is more important than the business plan. The business plan explains why your idea is viable. The operations plan says how you will maintain and grow the viable idea. How you answer the phones, treat customers, manage employees, plan for future growth, and create order can contribute to the demise or success of your business. Investors and customers will expect consistency in the execution of the plan. The operations plan sets the tone for your employee manual and revenue goals. In the chaotic world of business, the most organized company wins.

Career Advice for New Women Entrepreneurs # 3:

Name. Name. Name is just as important as Location. Location. Location.

The name of your business and product is as important as the location of your headquarters. Create a name for your company that your core audience can identify as the solution to their problem. Calling your service business Jesus' Hallelujah Cleaning Service might alienate or offend your Jewish, Atheist, and Muslim customers.

Choose a name that identifies with your customers' problem. Naming the company after yourself is great if you want to brand your name, but can backfire if people can't pronounce your name or tie it to the product. Your goal is to integrate this revolutionary product or service into their busy lives. It's easier for your customer to remember Geek Squad as a computer repair service, than Puniler Professional Technology and Consulting Services when their computer fails.

Erratic business behavior, poor sales and inconsistency in the customer experience - reeks of poor operations planning, lack of a big idea and ineffective marketing focus - not lack of capital. Use your innate female multi-tasking powers to attract the best investors and plan for wealthy and healthy business growth.