business growth

In Career Gems January 2, 2025 By Esther Ijewere

How to Build a Sustainable Business: A Guide for Women Entrepreneurs

Building a sustainable business is a journey that requires careful planning, persistence, and the ability to adapt to changing market conditions. For women entrepreneurs, the road to success may come with unique challenges, but the rewards of creating a thriving business that lasts for years are well worth the effort. Here’s a step-by-step guide on how to build a sustainable business and ensure long-term success.

1. Start with a Clear Vision and Purpose

A strong business foundation begins with a clear vision and purpose. As a woman entrepreneur, it’s essential to define what your business stands for and how it contributes to the world. Ask yourself:

What problem does your product or service solve?
How does your business align with your personal values and goals?
Who is your target market, and how can you serve them better than anyone else?

A well-defined vision will guide your decisions, help you stay focused, and motivate you through tough times.

2. Conduct Thorough Market Research

Before diving into business operations, it’s important to understand your market. Research is key to identifying trends, opportunities, and potential gaps in the market that your business can fill. This is especially important for women entrepreneurs who may face competition in male-dominated industries.

Ask yourself:

Who are your competitors, and what are they doing well?
What are the unique needs of your target audience?
What can you offer that will set you apart from the competition?

Market research will provide valuable insights and help you refine your business model.

3. Create a Solid Business Plan

A business plan acts as a roadmap for your venture. It outlines your goals, strategies, financial projections, and growth plans. A solid business plan is essential for attracting investors, securing loans, and staying on track as you grow. Your business plan should include:

Executive summary: A brief overview of your business.
Business description: What your business does and its market position.
Market analysis: An overview of industry trends, competitors, and target market.
Marketing and sales strategies: How you plan to attract and retain customers.
Financial projections: Expected income, expenses, and profitability.

Your business plan will evolve as your business grows, but it’s an essential starting point.

4. Focus on Building Strong Relationships

Networking and building relationships with other business owners, customers, and mentors is crucial. As a woman entrepreneur, forming a support network of like-minded individuals can provide invaluable advice, opportunities, and moral support. Here’s how to build meaningful relationships:

Attend networking events, both online and offline, to connect with other entrepreneurs.
Join industry-specific groups and communities to share ideas and resources.
Find a mentor who can guide you through challenges and offer insights based on experience.

Strong relationships will not only help your business thrive but also create a sense of community that fosters growth and collaboration.

5. Manage Your Finances Wisely

Financial management is at the core of building a sustainable business. Many women entrepreneurs struggle with securing funding or managing their finances effectively, but with the right tools and strategies, you can ensure long-term profitability. Consider the following tips:

Create a budget and track your expenses to ensure you’re staying within your financial limits.
Build an emergency fund to cover unexpected costs.
Seek out funding options such as grants, loans, and investors, but ensure you understand the terms and risks.
Regularly review your financial statements to monitor cash flow and profitability.

Responsible financial management will keep your business afloat and ensure its sustainability in the long run.

6. Adapt to Market Changes and Embrace Innovation

The business world is constantly evolving, and it’s crucial to stay ahead of the curve. As a female entrepreneur, you need to be flexible and open to change, whether that means adapting your products, services, or business model. Stay informed about industry trends, new technologies, and customer preferences to keep your business relevant.

Here are a few ways to embrace innovation:

Invest in technology to streamline operations and improve efficiency.
Continuously seek customer feedback to improve your offerings.
Be open to pivoting your business model if needed to stay competitive.

By staying adaptable and forward-thinking, you’ll ensure that your business remains viable and ready to tackle future challenges.

7. Prioritize Work-Life Balance

Sustaining a successful business is not just about financial growth—it’s also about personal well-being. Women entrepreneurs often face the challenge of balancing their business responsibilities with personal life, which can lead to burnout if not managed carefully.

To maintain a healthy work-life balance:

Set clear boundaries between work and personal time.
Delegate tasks when possible to avoid overwhelming yourself.
Take time for self-care, whether it’s through exercise, hobbies, or spending quality time with loved ones.

Taking care of yourself will ensure that you remain energized, focused, and able to lead your business with clarity.

Conclusion

Building a sustainable business as a woman entrepreneur requires dedication, resilience, and a strategic approach. By starting with a clear vision, conducting market research, creating a solid business plan, and managing finances wisely, you can set a strong foundation for long-term success. Remember to network, stay adaptable, and prioritize your well-being to ensure your business continues to thrive for years to come.

At Women of Rubies, we are committed to empowering women entrepreneurs by providing the tools, resources, and support needed to build sustainable businesses that make a lasting impact. Keep striving, and together, we can create a future of limitless possibilities.

In Career Gems November 21, 2024 By Women of Rubies

myEKI Marketplace Sponsors Women of Rubies Media Visibility BootCamp

myEKI Marketplace, a leading hub for local and global commerce, has joined the Women of Rubies Media Visibility BootCamp as a sponsor, reinforcing its commitment to empowering women in business and media.

The BootCamp, organized by Women of Rubies, is designed to equip women with essential skills to amplify their personal and professional brands through media exposure and strategic storytelling. The program will feature expert-led sessions on media strategy, public relations, and maximizing visibility in today’s competitive landscape.

Known as the #1 Largest Hub for Local & Global Commerce, myEKI Marketplace serves vendors, riders, shippers, and customers, offering a one-stop platform for everything from vendor listings to international shipping and classified ads. Their sponsorship of this impactful initiative highlights their dedication to community development and fostering opportunities for women to thrive.

“We are excited to have myEKI Marketplace on board as a sponsor for the Media Visibility BootCamp,” said Esther Ijewere, Founder of Women of Rubies. “This partnership is a celebration of shared values—empowerment, innovation, and the belief in the transformative power of visibility. With myEKI’s support, we’re creating a platform for women to amplify their voices and create lasting impact.”

myEKI Marketplace’s sponsorship also includes a special campaign, giving women the opportunity to win tickets to the BootCamp. This initiative not only supports women’s participation but also encourages a wider audience to engage with the mission of Women of Rubies.

“At myEKI, we understand the importance of visibility in driving success,” said [Spokesperson Name, Title]. “We are proud to sponsor the Media Visibility BootCamp and support women who are breaking barriers and redefining industries.”

About myEKI Marketplace

myEKI Marketplace is a full-service platform designed to meet the diverse needs of local and global users. From vendor listings and local deliveries to international shipping and classified ads, myEKI integrates these features into a seamless, user-friendly experience.

For updates on the BootCamp and details on how to win tickets, follow myEKI Marketplace and Women of Rubies on social media.

In Interviews&profile September 19, 2024 By Women of Rubies

Amaechi Omijeh (MRSOTHEBRAND): Transforming Support for Small Businesses

Amaechi Omijeh, also known as MRSOTHEBRAND, has emerged as a prominent figure in the constantly changing world of social media. As a vibrant blogger and influential figure on social platforms, Mrs. Omijeh has established her own unique space by dedicating herself to the promotion of small businesses and entrepreneurship. Her purpose is evident: to champion creative ventures and inspire entrepreneurs, especially women, to expand their brands and connect with wider audiences.

A Passion for Innovation and Empowerment

Amaechi’s platform is a beacon of support for small businesses. Through her blog and social media channels, she shares her unwavering passion for entrepreneurship, offering valuable insights and resources to her audience. Her dedication to promoting innovative ventures is evident in the diverse range of content she produces, aimed at helping entrepreneurs navigate the complexities of building and sustaining a business.

Highlighting Success Stories

One of the standout features of MRSOTHEBRAND is her in-depth interviews with successful entrepreneurs. These interviews provide a behind-the-scenes look at the journey of various business owners, highlighting their challenges, triumphs, and the strategies they employed to achieve success. By showcasing these stories, Mrs. Omijeh not only provides inspiration but also practical advice that her audience can apply to their own entrepreneurial endeavors.

A Treasure Trove of Resources

Her blog is a treasure trove of resources on essential topics such as marketing, productivity, and personal development. Her articles are meticulously crafted to address the needs of small business owners, offering tips and strategies to enhance their marketing efforts, improve productivity, and foster personal growth. Whether it’s through detailed how-to guides or motivational pieces, she ensures that her readers have access to the tools they need to succeed.

Creating a Supportive Community

Beyond her content, Amaechi aims to create a supportive community for entrepreneurs. She fosters an environment where business owners can connect, share their experiences, and learn from one another. This sense of community is invaluable, providing a network of support that helps entrepreneurs overcome obstacles and celebrate their achievements together.

Inspiring Others to Pursue Their Passion

At the heart of MRSOTHEBRAND is a desire to inspire others to pursue their passions. Mrs. Omijeh believes that with the right support and resources, anyone can turn their dreams into reality. Through her platform, she encourages her followers to take bold steps towards their goals, reminding them that they have the potential to make a significant impact in their chosen fields.

Join the Movement

If you’re an entrepreneur looking for inspiration, guidance, and a supportive community, MRSOTHEBRAND is the place to be. Join Amaechi Loretta Omijeh on her journey as she continues to empower and uplift small businesses, one post at a time. Follow her on social media, dive into her blog, and become a part of a movement dedicated to fostering innovation and entrepreneurship.

In the words of Mrs. Omijeh herself, “Empowerment begins with a single step. Let’s take that step together.”

In Career Gems July 27, 2024 By Women of Rubies

Transforming Passion into Profit: A Guide for Women Entrepreneurs

Many women across the globe are harnessing their passions and talents to create thriving businesses and pursue fulfilling careers. Every day, more women are turning their passion projects into profitable ventures that not only generate income but also drive economic growth and empowerment. This article explores how women can transform their passion projects into profitable careers, drawing on real-life examples and practical advice.

1. Identifying Your Passion

The first step in turning a passion project into a profitable career is identifying what you’re passionate about. Whether it’s fashion design, food entrepreneurship, or social activism, your passion should be the driving force behind your business venture. Take the time to reflect on your interests, skills, and values to identify a niche that aligns with your passions and has the potential for profitability.

2. Developing Your Skills and Expertise

Once you’ve identified your passion, invest in developing your skills and expertise in your chosen field. Take advantage of training programs, workshops, and online courses to acquire the knowledge and skills you need to succeed. Whether it’s learning new techniques in your craft or mastering business management principles, continuous learning and skill development are essential for building a successful career from your passion project.

3. Creating a Solid Business Plan

A solid business plan is essential for turning your passion project into a profitable career. Outline your business goals, target market, competitive analysis, and marketing strategy to guide your business growth and development. A well-thought-out business plan not only helps you clarify your vision but also serves as a roadmap for achieving your goals and securing financing if needed.

4. Building Your Brand

Building a strong brand is key to standing out in a competitive market and attracting customers to your passion project-turned-business. Define your brand identity, including your brand values, personality, and visual elements such as logo and packaging. Establishing a strong brand presence across your chosen social media channels, websites, and offline promotions helps to build brand awareness and loyalty among your target audience.

5. Leveraging Technology and Digital Tools

In today’s digital age, embracing digital tools and platforms that can help you showcase your products or services, manage your finances, and connect with customers online is crucial. Utilizing e-commerce platforms, social media, and digital marketing strategies can significantly expand your reach and enhance your business operations.

6. Seeking Mentorship and Networking Opportunities

Mentorship and networking are invaluable resources for women entrepreneurs looking to turn their passion projects into profitable careers. Connect with experienced mentors, industry experts, and fellow entrepreneurs who can offer guidance, advice, and support along your entrepreneurial journey. Joining networking groups, attending industry events, and participating in entrepreneurship programs can help you expand your network and access new opportunities for growth and collaboration.

With determination, creativity, and strategic planning, women can achieve success in their entrepreneurial pursuits and create a lasting impact in their communities and beyond. By transforming their passion projects into profitable careers, women are not only achieving personal fulfillment but also contributing to the broader economic and social landscape.

In self development June 22, 2020 By Editor

Tale Alimi: 5 Tips To Business Growth

One of the most common desires I hear from business owners is that they want to grow their business. They are tired of going round in circles or things being stagnant for a long time. For some, growth means increasing their business revenue, for others, growth means opening new branches or increasing their customer base. I have noticed that growth is harder for businesses that have achieved some amount of success and have coasted in a certain level for a while. The reason this is the case is that they do not want to change a winning formula or rock the boat.

The fast pace of technology development has rendered a lot of formerly successful products obsolete; from typewriter’s to fax machine, to the cassette player and even to the floppy disk(remember those?). Most of these companies achieved a level of success and stayed there. They were not willing to step out of their comfort zone and make the required changes that would lead to growth and other more agile players took over their market share with new products. Albert Einstein defines Insanity as ‘doing the same thing over and over again and expecting a different result’.
As a business owner or if you are part of a business that needs to grow or go to the next level, you need to step out of your comfort zone. You can start with baby steps and then take bigger steps with time. Here are a few tips on stepping out:

Take risks
This is a scary concept for a lot of us because by the very meaning of the word ‘risk’ it signifies uncertainty. It connotes that the outcome is unpredictable and can either have a positive or negative impact. I am an advocate for taking calculated risk and putting your leg in the water gradually and this is a necessary step to grow in business. This could mean introducing a new service or product to a small segment of your customers and testing the response before scaling it up.

Learn new things
Knowledge always fuels growth and most successful people are committed to continuous learning and improvement. Don’t only learn about things that are happening in your industry, learn from other abstract or unrelated things and you would be surprised where inspiration would come from. One of the ways I get inspiration is by watching cartoons with my son; the amazing characters that Disney and Pixar create seem to always have a message for me about life and business.

Explore
This is an extension of learning new things. It is looking at new ways to do the things you usually do. I met a lady some time ago who has built a successful business around sugar free cakes because she decided to explore a way to bake cakes that people could enjoy without packing on the calories. So my advice is look at your current process, product and services and find new ways of doing things.

Fail forward
Failure is a word that has a negative connotation to a lot of us, but I have learnt that failure is a perspective and true success cannot be achieved without some failure. I like John Maxwell’s advice to fail forward; which means let every failure be a learning experience that would move you forward. A famous quote by Robert F. Kennedy is: ‘it is only those who dare to fail greatly that can achieve greatly’. So instead of letting the fear of failure hinder us from moving forward, the goal should be to learn from our failures and grow through them.

Find your genius
I believe everyone has an inner genius and your inner genius is unleashed at the point where you let go of inhibitions and fear and embrace your true creativity. We always refer to some people as ‘geniuses’, but the truth is that everyone is capable of being a genius at something – if they are willing to hone their skills and put in the necessary work required to create genius standard.
You need to step out if you want to grow and this can only happen when the discomfort of being stagnant overshadows the fear of stepping out. I would like to also recommend this article: 3 success habits that changed my life to provide more inspiration.

About Tale Alimi
‘Tale Alimi is the CEO of Tale Alimi Global; a premium business coaching and strategy consulting boutique focused on helping progressive and forward thinking SME’s take their business from small to scale. She is the author of Uplevel-find your niche, share your story, build your tribe and profit from your passion(www.talealimi.com/uplevelbook). She has a Masters in Business Administration from Lagos business school, a certificate in personal coaching from the coaching academy UK. Visit her website to learn more:( talealimi.com.com). Get daily business inspiration when you follow her on twitter (http://twitter.com/talealimi) and Instagram(https://www.instagram.com/talealimi).