GREENSBORO, N.C. — Ladies, this money segment is all about you! Women are starting businesses every day and they are thriving even during the pandemic, but it's not easy.
Money expert Ja'net Adams is an author and entrepreneur who shares insight on the best ways to get your business going.
"Women are the fastest-growing segment when it comes to entrepreneurship and since it is Women's Small Business Month, I want to share a few tips and strategies for female entrepreneurs that can help them excel," Adams said.
Adams, who wrote the book, The Money Attractor offered these three tips to get entrepreneurs started in the right direction.
1. Make Up Your Mind:
"Many women say they are entrepreneurs, but at this point, it really is a side hustle that makes them money while still having a full-time job," Adams said. "If you want to take your business full-time, then you need to make up your mind to do so. In addition to making up your mind, you need to put yourself in a financial position to pursue that business full-time. You do that by paying off as much debt as possible and building your business to a point that your profits almost could replace your current salary."
2. Shout It Out To The World:
"If you have a business you must make sure that everyone knows about it! Never be shy about marketing and branding your business online and offline. There could be someone in Australia that wants to buy your product or use your service. You leave money on the table when you don't promote your business daily."
3. Save For Rainy Days:
"This tip is important for female business owners that still have full-time jobs and those who already are entrepreneurs full-time! There are going to be financial emergencies that come up in your life that if you are not prepared for them could cause you to go out of business or worse, hurt you personally. In order to avoid all of that, I suggest that all women small business owners have at least a year's worth of expenses saved. If your monthly expenses are $3000 then that means you should have $36,000 saved. This will make running a business a lot easier."
Also, as a warning, Adams said you have to know there will be a couple of bumps in the road.
"I think we are in the middle of one of the bumps right now with the pandemic. Entrepreneurship is not easy, but if you go about it the right way it can be extremely rewarding."
You can get more money tips from Ja'Net Adams by clicking here.