Home Articles Female entrepreneurs, learn how to run the world with these five tips

Female entrepreneurs, learn how to run the world with these five tips

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Who runs the world? Girls.

While Beyonce might sing that with lots of sass, a group of power women would soon be congregating in Melbourne on October 25, telling ladies exactly how to do it.

And the name of the event? “Run The World”, of course.

The conference is hosted by the League of Extraordinary Women, Australia’s fastest growing female entrepreneurship movement. Run The World seeks to inspire, empower and inform women of the start-up world.

Anthill gets up close and personal with two of the inspiring women entrepreneurs who would be speaking at the event.

Say hello to Alison Goodger of Sukin, the Australian natural skincare company that’s gone global, and Jodie Fox of Shoes of Prey, the company that allows women to design their perfect pair of shoes online.

Here’re five tips on how to run the world

1. You’ve definitely managed to scale your business. What’s the top tip for other entrepreneurs out there about getting funding and investment?

Alison Goodger, Sukin:

I spent the first part of my journey in a cold, concrete warehouse packing creams into cartons and spending two days out of five cold calling into retail outlets. We worked hard and built the brand slowly.

Funding and investment advice will vary depending on the objectives and the nature of the business and the climate it operates in. With Sukin, we started slow and with minimal risk. We’ve always kept our overheads low and still maintain this direction today. Our growth strategy has also been a slow and steady one, learning from mistakes as we go.

Jodie Fox, Shoes of Prey:

It takes longer than you expect it will, so start early, know exactly what you want and be patient with the process.

2. What has been the biggest challenge in your journey and how have you managed?

Alison:

The skin care industry is a very cluttered and competitive market. There is a constant revolving door of new brands and new competitors.

The biggest challenge for me is staying relevant, knowing how to capture new customers and ensuring that we retain our current customers.

I believe collaboration is the key to a successful business.

We leverage of the collective ideas, creativity, resources and experience of everyone that’s involved with the brand. This means talking to our end customers often, having a great network of suppliers and distributors who all share the same passion for growth, creating a team that’s pro-active and passionate about the brand, and engaging with key retailers about trends and opportunities.

Jodie:

It’s a personal challenge around managing anxiety, fear of failure, emotions and self-doubt.

3. Fear and Self-Doubt. Just how do you deal with these sneaky little things?

Alison:

There are often times when fear and self-doubt creep in and take over. As successful as this brand has become, I still find myself questioning and being questioned. I think this is normal and completely OK. I’m not sure if I will ever truly want to overcome fear and self-doubt in business. I believe that being afraid of what’s around the corner prevents me from resting on my laurels.

I also think one of the best approaches in business is to get comfortable feeling uncomfortable!

Jodie:

I deal with fear by having really strong relationships in my life. The people who are my family and friends are the strength that carries me through the fear. As for self-doubt, that’s much harder because it creeps in when you least expect it, and settles in for a long stay. I get through this by remembering all the really simple foundational stuff I am capable of.

4. What’s one thing that you wish you knew when you first started out?

Alison:

I guess it would be the various trading terms in business. Knowing this would have saved me a lot of time and headaches.

Jodie:

How to ask for help.

5. Let’s bring the focus away from limitations that women entrepreneurs face. In your journey, have you ever felt that being a woman has actually helped you in any way?

Alison:

I think the only limitation women face as entrepreneurs are their own self-doubts, which really isn’t a gender specific problem at all.

In fact, I think women in Australia are lucky. We are blessed to have so many opportunities available to us.

Jodie:

Being a woman can have great cut through because of the ability to connect more easily from an emotional standpoint, or simply just being different.

The emotional connection is really critical in getting buy-in for an idea. Investors often say that they are investing in people and the idea. If they don’t connect with it on a really fundamental, human level, then the cash is not going to be forthcoming.

Want to hear more from a whole suite of amazing women entrepreneurs?

Run the World is currently in its second year, having launched in Melbourne in 2013 as part of the League of Extraordinary Women’s annual member events.

With early bird tickets now on sale from $80, time is running out to secure a limited seat at Run the World, Saturday, October 25 at Melbourne University’s Carrillo Gantner Theatre, 761 Swanston Street, Parkville.

Visit www.runtheworld.com.au for more information.

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