On March 8th 2015, Rhoyalty Concepts held their 2nd Annual Women Mean Business Honors. The focus of the event was to Honor African Women Entrepreneurs & creates a platform for young aspiring female entrepreneurs to gain practical skills, confidence, and motivation from business women and men in a variety of business fields.
WMB2015 Virtual Series was very engaging and provided an opportunity for those that attended to learn and be inspired. The event provided great information for women who are interested in starting businesses or are already in business here in the United States and on the African continent. Topics fluctuated from business tips, to balancing a healthy lifestyle whilst running your business, & how to finance your business. As an attendee we walked away with a wealth of information, here are 5 takeaways that we wanted to share with you.
1. One of the Honoree’s Lande Sanusi spoke on the importance of a strong team and supportive partnerships. In your business you must surround yourself with people who are critical thinkers, and those that can also provide you with constructive and helpful feedback. If something is not working, chances are that you need to try another strategy, bring together your team of advisers that you have built to help you re-strategize.
2. Having God or a spiritual foundation at the center of your business will help in directing the path your business should go. Spirituality was very important for the women who spoke as a means of directing the plans that they put together.
3. Money is always a hot topic, in the session on “How to Finance your Business”, we learned that when it comes to funding opportunities it is advised to develop a solid understanding of various capital raising alternatives to help plan a suitable funding strategy for your business. For example, competitions and donor funding may not be the best type of funds for a startup, at times these associations have their own interest to benefit their organization and those interest may not align with your business agenda. It’s best if you start with your inner circle of family, friends, angel investors and even your own personal savings.
4. As the saying goes no man is an Island and the same goes with business. Some people are interested in having a Co-Founder when starting a business; this is something that can be very beneficial. One of the speakers suggested when looking for a Co-Founder think about the skills and resources that you are lacking or need and look for someone who does as this can be a win- win situation for the two parties and save on cost of outsourcing other resources.
5. When discussing Work Life balance, the biggest takeaway was to never stop starting when it comes to healthy workouts and eating healthily. The idea of small wins was also emphasized by the speakers, that even incremental change is important to celebrate as we continue our life journey of being healthy.
Overall WMB2015 was a great experience. We look forward to see what Rhoyalty Concepts has in store for us for the next Women Mean Business Honors.