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Best Practices of the World’s Famous Female Entrepreneurs

You must have heard many success stories of people who got rich by starting their own businesses and have been providing jobs and generating revenue. Many people have successfully created legacies due to their success. If you want to start a business, you have to make sure that you are not only going for the set-in-stone method on your journey of success and a lot of learning as an young entrepreneur. Here we will look at the best practices of the world’s famous female entreprenuers and a few things that you should consider before opening your business. 

Look Around You

Before you think about starting your business, make sure that you have an idea about things and people around you. This will help you get an edge over other businesses that are providing mainstream products and services. Apart from that, you should think more like problem-solvers. For instance, if you think that you live in an apartment where people find it difficult to reach out to stores or cannot cook their food because they are students or single parents who are struggling with having a work-life balance. You can help such individuals by providing them with home-cooked food and caregiving services. 

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Make a Plan 

Successful startups and startup owners have a solid plan for their business and they always make sure that they plan ahead. This means they make sure that their business plan oversees all the resources they have at hand and the resources and strategies that they might need to get on with things in the future. Create a well-documented business plan with all the critical thinking in place before you dive into more details. It is going to be very helpful if your business plan is based on realistic goals so that you can evaluate your achievements and the corners that you are supposed to explore further to increase your chances of success. 

Get Done With the Required Documentations

You are supposed to file in for registrations, licenses, or certifications that are more like a permit that you might need to carry out business activities in the region where you live in. These documentation and license requirements vary from country to country and even from state to state. If you have any kind of intellectual property, you can immediately get it registered to protect it from getting copied out or used under someone else’s name. You can also apply for any kind of local grants that support women entrepreneurs. 

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Let’s have a look at some successful women who became one of the wealthiest and famous entrepreneurs. You can also get inspiration and look forward to get your own startup up and running by looking at some influential people interviewed by news channels that are part of the Spectrum channel lineup

Stephanie Eltz (Doctify)

Stephanie is the co-founder of a healthcare platform called Doctify that can help you find a doctor and book an appointment without any trouble. She is a practicing orthopedic surgeon and had some real trouble looking for a doctor to remove a cancerous mole. Doctify connects patients with a wide range of specialists with reviews so that other patients get information about what kind of experience other patients had with a certain doctor. Her passion and association with the field led her to become one of the famous female entrepreneurs in the UK. 

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Estée Lauder (The Estée Lauder Companies Inc)

Estée Lauder started off working for her uncle who was a chemist and made face creams and lotions. She worked with him and helped him to refine his Super Rich All-Purpose Cream. In the beginning, she got little success when she started off selling the cream to her friends and received some amazing reviews. After the cream became a success in her friends’ circle, she decided to sell off the cream in the market and helping women to look and feel good became her goal. She started crafting other beauty products including Dr. Schotz’s Viennese Cream and the Six-In-One to different resorts and beauty shops and got the attention of some major beauty salons and retailers. Even after her death in 2004, her company produces an annual sale of about $14.2 billion. 

Hafsah Jumare (CoAmana)

Poverty is one of the problems faced by many third-world countries and Hasfah Jumare who is an entrepreneur based in Nigeria made up her mind and addressed the issue. She was looking for a way to connect startups based in Nigeria and market their products and services in the world. She invested everything she had to fulfill her dream and had to go through many obstacles and rejections that came on the way. CoAmana became successful in connecting more than 100 small businesses and small business owners in Nigeria to the global market. 

Sara Blakely (SPANX)

Sara started off as an entrepreneur at a very young age when she started off selling fax machines door-to-door and realized that she must have better undergarments and created a quick solution using a pair of pantyhose. She realized that many other women might go through the same problem and this could be solved by using figure-improving shapewear and started marketing her invention in the local market. This is when she started off SPANX at the age of 27 and became one of the most successful female business figures under 30. 

Key Takeaways

These are some successful female entrepreneurs you can get inspiration from and take an initiative. I believe that if you have a business idea or you think that there is a gap in the market that you can fulfill, consider the current time as the right time to fill this gap and become one of the successful entrepreneurs in the world. Consider using different technologies and platforms to make things reachable for others and manageable for yourself.

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