How to Succeed as a Female Entrepreneur

Five successful female entrepreneurs share some sage advice on overcoming failure and finding success

“Whatever you do, be different – that was the advice my mother gave me, and I can’t think of better advice for an entrepreneur. If you’re different, you will stand out.” Anita Roddick, founder of The Body Shop.

For many of us, the idea of quitting our day job to develop a potentially great business idea is both intimidating and overwhelming; we often find ourselves bombarded with questions and doubts. Research shows that the average professional woman will take a modest view of her abilities; while by comparison, her male counterpart will generally hold an elevated view of his. This may explain why, traditionally, the guys have often been more likely to go it alone than the girls.

However, this has changed and more women are now taking the plunge and using their talents to succeed in their own businesses. Self-belief may be the main prerequisite for taking this step, yet it’s not enough. There is no magic formula for female entrepreneurial success, but there are certain maxims that hold true according to the experiences of five successful, self-made Dubai-based business women and members of the Entrepreneurs Organization.

Cultivate passion and grit

It is a universally acknowledged truth that, unlike that of a regular job, the work of a start-up entrepreneur is never done. “Understand that being an entrepreneur requires a tremendous amount of sacrifices and grit. If you expect it to be easy or even just moderately hard you are fooling yourself,” says Mona Ataya, founder and CEO of Mumzworld.com. “Don’t start a business unless you are 100% committed and willing to rise and fall multiple times before you get to the finish line.”

It’s also crucial to possess a love for what you do as this will sustain you through the early starts and long hours as well as the inevitable set-backs, disappointments and frustrations that lie ahead. “Be passionate about what you do. To be successful you initially need to immerse yourself in your business,” advises Hazel Jackson, entrepreneur and CEO of multi-million dollar business biz-group. “If it’s something that you’re good at, but not passionate about the energy you need to be successful will soon wear off.”

Ignore gender

Creating impact and innovation is genderless and being an entrepreneur is tough, for both women and men. “I generally do not look at challenges in the context of my gender,” says Mona Ataya. “I fundamentally believe that woman can go as far as men. Key executive positions at Mumzworld are held by women such as technology lead, head of logistics, head of customer care etc. These are roles that typically would be held by men.”

Ambareen Musa, founder of SouqAlmal.com, maintains that the challenge derives from being a mother. “I think the issue is not about being a woman but about the personal responsibilities you have in life. As a mum, I need to make sure that I organize myself to make sure that my kids have what they need while I am at work or are in safe hands when I am travelling.”

Choose the right people

The old adage, knowledge is power, holds true for entrepreneurialism, and knowledge is fluid. By immersing yourself in a network of high-performing, accomplished people, you can benefit from their experience and insight. Hazel Jackson has this advice: “Surround yourself with smart people. Luckily you don’t have to have all the answers, but you need to be in the positive energy and company of successful, ambitious and intelligent people. They keep you fresh.”

Achieve balance

One of the great challenges for female entrepreneurs can be finding time for both their business and their private life. “If you have a family, remember that having your own business can give you that flexibility but it is also a 24/7 agenda,” says Ambareen Musa. “There will be very few times that you’ll be able to go on holiday with your family and switch off completely so make sure you’re mentally prepared for it.” An unflinching work-ethic is the backbone of the success of an entrepreneur.

However, women can find themselves particularly challenged with work life balance, especially when they have children, something that Nita Maru, founder of TwS Legal Consultants, has learned to manage. “It’s not easy juggling different roles; being a mother, wife, lawyer, entrepreneur and a Board member of the Entrepreneurs Organization. I have a passion to grow my law practice and take on new opportunities, but if it demands me sacrificing my family I won’t do it. My husband and children will always come first so in order to achieve greater work life balance, I plan ahead and prioritize.”

Learn to delegate

Multitasking is a skill that comes naturally to women. However, teamed with the perfectionism of the entrepreneur and the passion they have for their business this can result in a leader who doesn’t delegate responsibility. “When I first set up my law practice I was trying to do everything myself, there was no room for work life balance,” says Nita Maru. “After a few years of rapid growth I saw the need to diversify my practice and recruit additional lawyers to delegate to. By growing my team over the years I have been able to focus more on the strategic side of the firm enabling me to work ‘on’ as opposed to ‘in’ the business.”

Smart delegation is vital for success; it’s a struggle to excel at every aspect of business, so delegate your weakness. However, selecting the right people is vital, a lesson learnt by Hazel Jackson. “One of my biggest was hiring someone based on their qualifications. I was a little in awe of their pedigree and history and didn’t probe sufficiently in reference checks. It then took me too long to admit I’d made a mistake and they didn’t fit the biz-values and ask them to leave.”

Don’t be afraid to fail

Women are renowned for their intuition and emotional intelligence, two powerful and advantageous weapons in any business person’s arsenal. The importance of taking action is something that Rohini Gehani, Founder and CEO of Rivaage Boutique believes in. “I was at a point where I could have given up on my business, but an opportunity was presented to me, I grabbed it as I believed in it and it has worked out. So, I learnt that if you really believe in something you should just do it.”

The powers of positivity and perseverance are also crucial to enable you to learn the lessons of any failures asAmbareen Musa explains:“It’s ok to make mistakes as an entrepreneur and there are a lot more to come. It’s important to try and take the risk but even more important to identify the mistake early and not ignore the signs.”

Although doubting yourself after making decisions is often inevitable, it’s important to trust your instincts. According to Mona Ataya, the real failure is not trying. “I try everything I believe can have a possible impact. If that does not succeed then my success is in the attempt and working diligently in trying to make it happen. If it doesn’t work out, then it wasn’t meant to be.

So, failure is in fear- it is never in the attempt that did not go as planned.”Determination and a good attitude are crucial as Rohini Gehani concludes: “If you find passion in your business, it doesn’t feel like work. Always give it your best and be prepared to fail as those will lead to your successes”.