Who would be better placed than a group of influential women in business * to give advice to those who want to embark on entrepreneurship?
You’ll find tips and inspiration in what they shared at the 2016 World Entrepreneurship Summit.
Join entrepreneur networks
When Jordanian engineer Nermin Sa’d wanted to set up a business, she could not find anyone around her to support her. Until the day she made contact with GIST *, the State Department initiative that aims to promote innovation in the world through science and technology. She found the support she needed to launch Handasiyat.net *, an online engineering company. Programs such as GIST provide training, resources and sometimes micro-finance. Even a small amount of money “can be very useful at startup,” says Nermin Sa’d.
Find a strong sponsor
For Ruth Porat *, CFO and Senior Vice President of Google and Alphabet Inc., having a strong sponsor was the key factor that helped her overcome the challenges. Find someone who has seniority, who is willing to vouch for you and who can suggest good business opportunities. Once you find this person, “persevere and move on,” advises Ruth Porat.
Repeat your pitch
Ruth Porat has found that women entrepreneurs often have very consistent arguments for their business plan, but they do not repeat them as much as their male counterparts. Repetition is often “interpreted as a sign of commitment, passion, energy,” she explains. That’s why, faced with investors and potential customers, you need to reiterate why you are convinced of the potential success of your business.
Tell your story
As global business ambassador and CEO of Pinnacle Group, Nina Vaca * travels around the world. She never loses the opportunity to tell how she got into business. People will recognize themselves in entrepreneurs with similar backgrounds, and that will be a source of inspiration for them. “Use your journey in life and your success to help others,” she advises.
To ensure the diversity of future generations of entrepreneurs, it is particularly important that women in the business community support their sisters and programs that give women access to capital. Nina Vaca has also become an angel investor for Altura Capital, one of the first asset management companies in the United States owned by a Latino. The company’s CEO, Monika Mantilla, has so far allocated $ 100 million to US businesses owned by women or minorities.