Women Entrepreneurs and Growth Capital

From Money Matters
by Molly Tschida Brennan, in NAWBO's Entrepreneurship Trilogy

 

As you begin to think about growing your company, remember there's no right or wrong path to follow. Each business has unique characteristics and goals, meaning no two will approach growth in exactly the same way. And there are nearly as many ways to grow a business as there are businesses themselves. Maybe you're looking to penetrate a new market, for example, or add a new product or service, or buy a new facility. It could be you're expanding overseas, or thinking about acquiring a competitor's business. Or possibly you've landed a big client and simply need working capital to fulfill the contract. Or maybe you aren't sure what your plans are, but think your business has the potential for more.

Where to Look for Startup Financing

From Taking an Idea to Market, by Molly Tschida Brennan, in NAWBO's Entrepreneurship Trilogy

 

 This is not your mother's woman-owned business. The number and size of women owned businesses have increased significantly in recent years, and today's women-owned firms generate $2.3 trillion in revenues and are just as financially strong and creditworthy as the average U.S. firm, according to the Center for Women's Business Research.

Your brand goes beyond just selling a product or service -people want a complete experience where they feel part of a bigger cause.

 

You have to make genuine connections with your customers who want to be part of who and what they are. But businesses often forget the importance of building specific bonds with customers.

When customers feel good about your business, they will feel more inclined to do business with you more often. However, it is not always just about increasing sales; it is also about being loyal to the customers that appreciate your business.

Connecting With Customers on a Different Level

Having conversations with customers post sale is one powerful way to connect. It is much easier to connect with customers in this day and age because of social media and the large number of consumer who use social media websites on a regular basis. By creating a page for the brand on these different social media websites, you can learn more about your customers and help them to learn more about you and your business as well.

When you empower your clients they stay with you - and recommend you.

 

The days of the 'wheretofore', 'hereunder' and 'here withal' in our written expression are well behind us and now we're dealing with the wild short cuts of SMS text messages: lol, cu, ur, etc. Neither style suits business communication, which needs relevant information presented simply and clearly.

So how do the written materials you send out to clients measure up? Are they simple, straightforward, clear, and easy to understand?

Are you respecting and empowering your clients?

Some years ago I received a form letter from my insurance company, a large, extremely well-known organisation. As I sat in my kitchen reading the letter, I was struck by how convoluted the writing was. There wasn't a single simple, conversational sentence to be found. The whole thing was jargon and self-important verbosity.