{"id":40,"date":"2022-11-23T07:36:48","date_gmt":"2022-11-23T07:36:48","guid":{"rendered":"http:\/\/mmonisha.expertdigitalmarketers.com\/?p=40"},"modified":"2023-01-02T13:31:48","modified_gmt":"2023-01-02T13:31:48","slug":"1-identify-your-purpose","status":"publish","type":"post","link":"https:\/\/mmonisha.expertdigitalmarketers.com\/index.php\/2022\/11\/23\/1-identify-your-purpose\/","title":{"rendered":"1. Identify your purpose"},"content":{"rendered":"\n<p>When you\u2019re running a business, you need to identify your \u201cbig why,\u201d said Christina Sjahli, a CPA and the owner of&nbsp;<a href=\"https:\/\/www.christinasjahli.com\/\" class=\"\">Christina Sjahli Consulting<\/a>, a company that offers virtual CFO services to mission-driven women entrepreneurs.<\/p>\n\n\n\n<p>\u201cFinding your clear sense of purpose enables you to focus on what matters most to you and push forward in the challenging moments.\u201d<\/p>\n\n\n\n<p>If you haven\u2019t already identified your purpose, take some time to reflect. Do you want to build a product that makes people\u2019s lives easier? Do you want to create jobs in your community? Maybe you want to offer a service that helps people achieve a specific goal.<\/p>\n\n\n\n<p>When you figure out what\u2019s fueling you, not only are you less likely to suffer from imposter syndrome, Sjahli said, you\u2019re also able to set better boundaries and goals.<\/p>\n\n\n\n<p><strong>Tips to find your purpose:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Think about why you wanted to start a business. What gets you excited? Who is your business for? What are you trying to achieve?<\/li>\n\n\n\n<li>Narrow your focus and define your mission.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-2-embrace-the-opportunity-to-grow\">2. Embrace the opportunity to grow<\/h2>\n\n\n\n<p><em>\u201cI learned to always take on things I\u2019d never done before. Growth and comfort do not coexist.\u201d \u2013 Virginia (Ginni) Rometty, former CEO of IBM<\/em><\/p>\n\n\n\n<p><em>\u201cDo not be afraid to make decisions. Do not be afraid to make mistakes.\u201d \u2013 Carly Fiorina, former CEO of Hewlett-Packard<\/em><\/p>\n\n\n\n<p>To build a thriving business, you have to be willing to take risks and embrace challenges. Getting outside your comfort zone can help you gain new skills, solve problems more effectively, and achieve your goals faster. Depending on your business and background, a growth opportunity could be buying the building next door or figuring out how to&nbsp;<a href=\"https:\/\/fundbox.com\/blog\/moving-business-online\/\" class=\"\">digitize your services<\/a>.<\/p>\n\n\n\n<p><strong>Tips to embrace growth:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Say yes to challenging projects and endeavors.<\/li>\n\n\n\n<li>Be willing to try new things, whether that means developing a new product or targeting a different customer demographic.<\/li>\n\n\n\n<li>Carve out time and resources for one or two company growth projects a year, like launching a&nbsp;<a href=\"https:\/\/fundbox.com\/blog\/update-your-digital-marketing\/\" class=\"\">digital marketing campaign<\/a>&nbsp;or opening a second store.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-3-be-tenacious\">3. Be tenacious<\/h2>\n\n\n\n<p><em>\u201cIf you are committed to creating value and if you aren\u2019t afraid of hard times, obstacles become utterly unimportant. A nuisance perhaps, but with no real power. The world respects creation; people will get out of your way.\u201d \u2013 Candice Carpenter Olson, former Co-CEO of Fullbridge<\/em><\/p>\n\n\n\n<p>As a business owner, dealing with setbacks and hardships is inevitable. In order to overcome the obstacles you encounter\u2014including the challenges unique to women, like gender biases and&nbsp;<a href=\"https:\/\/fundbox.com\/blog\/score-report-the-financial-state-of-women-owned-businesses\/\" class=\"\">pay inequity<\/a>\u2014tenacity is critical.<\/p>\n\n\n\n<p>\u201cI believe women entrepreneurs must stay resilient and go into each room with confidence like they belong,\u201d said Chynna Morgan, the founder and CEO of&nbsp;<a href=\"http:\/\/gifsoutloud.com\/\" class=\"\">Gifs Out Loud<\/a>, a company that creates experiential marketing campaigns. Picking yourself up takes practice, but it\u2019s the only way to make progress toward your goals.<\/p>\n\n\n\n<p>\u201cI learned early that rejection is protection,\u201d Morgan said, \u201cand everything that I went through with my business happened for a reason.\u201d<\/p>\n\n\n\n<p><strong>Tips for staying tenacious:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Remember your purpose and find motivation there.<\/li>\n\n\n\n<li>Think creatively about how to use the resources and tools at your disposal.<\/li>\n\n\n\n<li>Set boundaries so you have the energy and confidence to continue on during tough times.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-4-connect-with-others\">4. Connect with others<\/h2>\n\n\n\n<p>Connecting with fellow entrepreneurs and professionals in your field can boost your business, leading to higher revenue and happier customers.<\/p>\n\n\n\n<p>\u201cFind one or two organizations that align with your purpose, join them, be an active member, and provide your own insights and values,\u201d Sjahli said. \u201cOver time, they can be your champions and bring in future leads.\u201d<\/p>\n\n\n\n<p>It\u2019s also helpful to team up with other businesses for product launches or mutually beneficial marketing campaigns. \u201cDon\u2019t underestimate the power of&nbsp;<a href=\"https:\/\/fundbox.com\/blog\/leveraging-strategic-partnerships\" class=\"\">good partnerships<\/a>&nbsp;and collaborations. They can take your company to the next level,\u201d Morgan said.<\/p>\n\n\n\n<p><strong>Tips for connecting:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Join a professional group in your industry.<\/li>\n\n\n\n<li>Give back to an organization related to your mission.<\/li>\n\n\n\n<li><a href=\"https:\/\/fundbox.com\/blog\/collaborate-community-businesses\/\" class=\"\">Reach out to other business owners<\/a>&nbsp;in your area.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-5-adopt-a-learning-attitude\">5. Adopt a learning attitude<\/h2>\n\n\n\n<p><em>\u201cThe ability to learn is the most important quality a leader can have.\u201d \u2013 Padmasree Warrior, Founder, President, and CO at Fable<\/em><\/p>\n\n\n\n<p>You can\u2019t succeed in business if you\u2019re not willing to learn. Prioritizing&nbsp;<a href=\"https:\/\/fundbox.com\/blog\/9-marketing-agency-blogs-follow-inspiration-learning\/\" class=\"\">learning<\/a>&nbsp;puts you ahead of the curve. It keeps you humble and adaptable, introduces you to new ideas and perspectives, and helps you stay up to date on industry trends and shifting&nbsp;<a href=\"https:\/\/fundbox.com\/blog\/know-your-customers-day\/\" class=\"\">customer needs<\/a>.<\/p>\n\n\n\n<p>Even a little bit of effort goes a long way. \u201cBe one percent better every day,\u201d said Sjahli. \u201cAim high and long-term, but take small steps forward every day.\u201d<\/p>\n\n\n\n<p><strong>Tips to prioritize learning:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Get curious about the different aspects of running your business\u2014from product development to customer service.<\/li>\n\n\n\n<li>Keep up with the news in your industry.<\/li>\n\n\n\n<li>Ask to shadow your employees to learn what they do on a daily basis.<\/li>\n\n\n\n<li>Take a course or seminar.<\/li>\n\n\n\n<li>Sign up for conferences and events in your field.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-6-ask-for-help\">6. Ask for help<\/h2>\n\n\n\n<p><em>\u201cDon\u2019t ever be afraid to ask for help. Always be cultivating a support network so that when you stumble\u2014and you will\u2014they\u2019ll be there to catch you.\u201d \u2013<\/em>&nbsp;<a href=\"https:\/\/fundbox.com\/blog\/ladies-get-paid-founder-claire-wasserman-helps-women-entrepreneurs-thrive\/\" class=\"\"><em>Claire Wasserman<\/em><\/a><em>, CEO and Founder of Ladies Get Paid<\/em><\/p>\n\n\n\n<p>Running a business isn\u2019t a one-person job. Even if you\u2019re a sole proprietor, it\u2019s still crucial to lean on other people for support and&nbsp;<a href=\"https:\/\/fundbox.com\/blog\/7-female-entrepreneurs-share-their-best-advice-for-new-business-owners\/\" class=\"\">advice<\/a>.<\/p>\n\n\n\n<p>\u201cAs business owners, sometimes we believe we\u2019re supposed to have all the answers, but the truth is, asking for help is what makes you a great business owner,\u201d Morgan said. \u201cKnowing your strengths and bringing in people to help you with your weaknesses is vital in building a great company.\u201d<\/p>\n\n\n\n<p><strong>Tips for asking for help:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Ask other successful business owners for advice.<\/li>\n\n\n\n<li><a href=\"https:\/\/fundbox.com\/blog\/how-to-decide-what-type-of-employee-to-hire\/\" class=\"\">Hire<\/a>&nbsp;smart, capable team members.<\/li>\n\n\n\n<li>Outsource work you don\u2019t have the time or bandwidth to take on.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-7-invest-in-financial-knowledge\">7. Invest in financial knowledge<\/h2>\n\n\n\n<p>If you want to run a sustainable, profitable business, you have to invest in your own financial knowledge. Understanding your business\u2019s financials is the first step to pricing your offerings correctly, setting realistic revenue goals, planning for&nbsp;<a href=\"https:\/\/fundbox.com\/blog\/5-barriers-to-small-business-growth-and-how-to-break-through-them\/\" class=\"\">growth projects<\/a>, and securing funding.<\/p>\n\n\n\n<p>\u201cGrowth requires you to know your company\u2019s financial health and to have financial visibility of the future,\u201d Sjahli said, \u201cwhich means you must understand the story behind your balance sheet, profit and loss, and cash flow.\u201d<\/p>\n\n\n\n<p><strong>Tips to improve your financial knowledge:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Take an active interest in your company\u2019s&nbsp;<a href=\"https:\/\/fundbox.com\/blog\/fixed-expenses\/\" class=\"\">expenses<\/a>, revenue, and profit margin.<\/li>\n\n\n\n<li>Learn how to track your&nbsp;<a href=\"https:\/\/fundbox.com\/blog\/cash-flow-statement\/\" class=\"\">cash flow<\/a>.<\/li>\n\n\n\n<li>Set goals with financial targets in mind.<\/li>\n\n\n\n<li>Hire a business&nbsp;<a href=\"https:\/\/fundbox.com\/blog\/i-dont-need-an-accountant-this-research-says-you-do\/\" class=\"\">accountant<\/a>.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-building-powerful-businesses\">Building powerful businesses<\/h2>\n\n\n\n<p>Whether you\u2019re an aspiring entrepreneur or a successful business owner, there\u2019s always room to learn and&nbsp;<a href=\"https:\/\/fundbox.com\/blog\/business-growth-on-budget\/\" class=\"\">grow<\/a>. Check out our&nbsp;<a href=\"https:\/\/fundbox.com\/resources\/\" class=\"\">blog<\/a>&nbsp;to learn more about how you can build a thriving operation as a woman in business.<\/p>\n\n\n\n<p><em>Disclaimer: Fundbox and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.<\/em><\/p>\n\n\n\n<p>HOW TO BECOME A <a href=\"http:\/\/mmonisha.expertdigitalmarketers.com\/index.php\/2022\/11\/23\/how-to-become-a-sucessful-business-woman\/\">SUCESSFUL BUSINESS WOMAN<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>When you\u2019re running a business, you need to identify your \u201cbig why,\u201d said Christina Sjahli, a CPA and the owner of&nbsp;Christina Sjahli Consulting, a company that offers virtual CFO services to mission-driven women entrepreneurs. \u201cFinding your clear sense of purpose enables you to focus on what matters most to you and push forward in the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":43,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[5],"tags":[],"class_list":["post-40","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-tips"],"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>1. 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