Guest post by Alex Papa (learn more about Alex at the end of this post)
As an investor and business owner I have used my experience and network of contacts to create a study that defines and analyzes the thought processes of extraordinary women entrepreneurs and how they achieved their phenomenal success. When I say “extraordinary” entrepreneurs, I am speaking about women who have managed to turn over millions, if not tens of millions, as a result of strategic business decisions. The purpose of my study was to identify the “elements of thought” behind such success stories.
Put another way, I wanted to know how successful women entrepreneurs think, and how they put their thoughts into action. Along the way, I discovered three traits that separated them from the crowd:
The Importance of Modeling
Modeling is when you find people who have achieved what you hope to achieve and you model your entrepreneurial strategy after their own. Whether deliberately or intentionally, the vast majority of self-made women entrepreneurs chose role models to emulate at the start of their careers. They copied their strategies for making money. All it involves is a willingness to learn the methods of successful entrepreneurs and incorporate the successful elements into your business. Following the shape, trajectory and development of a successful enterprise will enable you to envision your own business as a success story as you take the steps towards achieving this goal.
Defying the Norms
What I also discovered was how joyfully successful female entrepreneurs defy all norms. These women have the courage and intelligence to challenge and then ignore the set norms of their own industry. They believe religiously that “set norms” are for the average industry player, and what is average is not innovative, and rarely is extraordinarily successful. In other words, norms are for those people who want to impose mediocrity upon the rest of the industry. Such thinking resists and even inhibits productive innovation. The women who offer the ultimate success stories defied the odds by defying the rules. These decisions are not accidental; they are strategic. In the end, defying the norm might be crucial in separating yourself from the crowd.
Your Customer Base is an Asset
Finally, my study found that successful businesswomen have nurtured a “fan base” of loyal customers right from the start. When their companies need an influx of cash, all these entrepreneurs have to do is to create and market a new product to their loyal clientele. Behind each success story is the desire and the effort to create, foster and maintain repeat customers. In fact, their main “assets” was their loyal customers rather than the products or services their companies offer! These women have realized how vital consistent customers are, and they have done whatever is necessary to foster strong client relationships. The end result is the profitable ability to create additional revenue streams from an existing client base.
Success does not have to be an impossible dream. Adapting your business to a role model of your choice can help show you the way towards profit, growth and remarkable achievement.
About Alex Papa
Alex Papa and his wife are the owners of several successful businesses both online and offline. They often teach people how to find legitimate business ideas and enjoy the lifestyle they desire. Alex also writes about Internet Security in his blog where you can find the latest Norton discount voucher.