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    Three tips for new entrepreneurs

    Making the leap to entrepreneurship is hard. It’s starting a business from scratch. It’s maybe leaving a comfortable, well-compensated job. If you have a family, it’s asking for buy-in from more than just yourself.

    But there are enormous benefits to starting a business. Working for yourself can be a hugely rewarding, and you can reap the benefits of your hard work by watching your business grow and thrive. For those just starting on the entrepreneurship track, here are three tips to help you begin.

    Find support groups to round you out

    You don’t want to build a business alone. Many other women business owners agree: finding a support network of business owners can help immensely. A common struggle for new business owners is on the back end — accounting, bookkeeping, inventory. Having a group of other business owners allows you to ask questions and maybe even take advantage of other services.  

    NAWBO Iowa brings together women business owners from all over the state for educational and networking events. Other Iowa organizations designed for small businesses include Lead Like a Lady, Iowa Small Business Development Center and the Iowa Center for Economic Success.

    One of our previous blogs also touched on organizations specifically designed for women business owners.

    Networking

    This isn’t the first time we’ve talked about networking, and it won’t be the last. As a brand-new business owner, it’s crucial to build the name behind your brand. As more people get to know you, the more you’re likely to receive business. Here are just a few of the benefits of networking:

    • Gaining notoriety in your community
    • Becoming the go-to person in your industry
    • Growing a support network to help in any struggles you may have

    Don’t take it from us. Here’s NAWBO Iowa member Deshara Bohanna, owner of Design Fetish, on networking.

    “Find new rooms to enter,” she said. “Figure out who will be interested in your product, but also begin networking and connecting with people that you don’t know. That has been a tremendous help for me.”

    For more tips on ways to network, check out our previous blog.

    Persevere and learn from failures

    The road to success isn’t easy. You’ll likely struggle and fail a few times, but persevere and learn from your mistakes.

    Even big companies like Best Buy and Converse have had their failures and struggles. But an ability to persevere and serve a need led to eventual success. The same sentiment can be carried over into small businesses.

    “Be flexible and willing to deal with some of the struggles,” Bohanna said. “Be open to finding new ways to resolve those things, and don’t accept no for an answer. Be confident in your own product. Most of all, champion yourself.”