Inspiring Women Entrepreneurs on How to Find Your Business Idea

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Female entrepreneurship is on the rise, with women making up 38 percent of business owners in the U.S. In fact, 1,072 women-owned firms are started each day and nearly 85 percent of women reported starting their business because they saw an opportunity.

Those encouraging statistics will only continue to grow as more and more women continue to strike out on their own. Although, knowing which opportunity the right opportunity is and when leave your day job behind isn’t always obvious. So, we sought out some expert tips on women can find their ideal business idea and take control of their careers.

Carin Rockind, a happiness and life purpose expert, believes that every aspiring entrepreneur should start a business that’s meaningful to them.

“I think it’s an old model to tell [women] to go into a specific field,” Rockind said. “I think that’s got us to where we are today. What you’re passionate about is way more important. Women need to tap into what they’re good at and what makes them feel great.”

“I don’t think there are any guidelines to the type of companies women should begin,” added Cologne Trude, co-founder and creative director of Show Me Your Mumu, a boho-chic clothing line. “Women’s strengths are so diverse that opportunities are endless.”

Melinda Emerson, an author and business coach known as “SmallBizLady” on Twitter, suggests starting a business you know something about. When you’re ready to begin the business you’re most passionate about, consider your limitations.

“I have seen people quit really good jobs to start businesses they hate,” Emerson said. “There are fantasies of grandeur about running a business. It’s really hard out there.”

Emerson suggests saving 20 to 40 percent per paycheck before you quit your job to begin your business. But, most important, Emerson emphasized the importance of doing your research. Make sure you know who your paying customer is.

“You always have to check and make sure your business model makes sense in an industry that’s growing and not sinking,” Emerson said. “It needs to be relevant three to five years from now. You don’t want [technological advances] taking your business.”

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Read more: https://www.businessnewsdaily.com/4629-business-ideas-women.html

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