I’ve always been proud to be a woman-owned business – but when I started King Media 20 years ago, that status wasn’t necessarily an asset. Over the years, I’ve watched designations like local, small, woman-owned and minority-owned go from niche to normal. Today, many customers and organizations actively seek to do business with women-owned businesses. In fact, more than 11.6 million US businesses are owned by women, generating $1.7 trillion in sales and employing nearly 9 million people, according to an American Express report. If you’re a women-owned business, there is no better time to truly ‘own’ your status. Here are some tried and tested tips I use to own my women-owned status and take my business to the next level.
Own your story. Every business has a story – yes, including yours. It’s not just about what you do, or how you do it, but why. Think back to why you started your business. What problems were you looking to solve for your customers? What situations or events characterized the beginning of your business? How have your beliefs and those events shaped what you do and how you do it? Your story is uniquely yours – and you can leverage that to differentiate your business.
Own your place in the market. Once you’re able to identify your strengths, you can use them to help position yourself in the market. What is that ‘special thing’ you do or provide that no one else in your industry does? Is it a special service, an incredible product, or a place where your business excels? Identify that ‘thing,’ and start talking about it in all your communication – both to your customers and to your employees.
Own your connections. I am continuously inspired by and learning from other business owners and leaders – especially the women in my circle. Some may be in my industry, but many are not. By building relationships with other women in business, I’m able to spot new trends, identify new innovations and finds ways to incorporate those into my own business. Whether I’m using those lessons to move my company forward or recalibrate my internal processes, the larger my circle, the greater my capacity to grow.
Are you looking for more ways to use your women-owned business status to grow? Give King Media a call – we’d love to grow your circle, and ours!