Women-led companies are increasing each passing year. According to Writer’s Block Live, there are 114% more female entrepreneurs in the US today than 20 years ago, and 12.3 million women (about twice the population of Arizona)-owned businesses in the US. The total global income of women will grow from $13 trillion (about $40,000 per person in the US) to $18 trillion (about $55,000 per person in the US) in the next five years.
Burn Boot Camp Co-founder and COO, Morgan Kline, took her own entrepreneurial leap of faith 10 years ago and has never looked back. Here are her top 3 tips on how to be a successful business owner:
- Stay Motivated: I stay motivated because my mission is so big and I know if I don’t work hard for my goals every day, I will not reach my full potential in this life. When there is something, I don’t want to do or don’t think I can do, I always ask myself the question “if I don’t do this, who will be impacted?” and that lights a fire under me! I motivate others by working to empower them to think beyond what they think they are capable of. Challenging others is something I love to do to get them to grow and move outside their comfort zone, because that is where all the magic happens!
- Have a Problem-Solving Mindset: One of the biggest qualities I possess is mental toughness and a problem-solving mindset. I know each day will bring me challenges and problems that need solutions. If I have a victim mentality and do not seek solutions for the problems, I am not valuable. Being able to build the company to what it is today does not happen alone. You must empower and trust your team to constantly be seeking solutions to the company’s problems.
- Comparison Is the Thief of Success: Do not compare what you are doing to what other people are doing. Allow your core values to guide you in your decision making. When I am feeling stuck on a decision, I always go back to asking myself if the decision aligns with my values and will I wake up tomorrow proud of those decisions I have made. I have learned to trust my gut and if a decision doesn’t feel right, don’t be afraid to change it!
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