Financial Tips Every Aspiring Woman Entrepreneur Should Know
Starting something new and important can make anyone a little wobbly. Apart from a stomach full of confidence, one also looks for guidance and expertise from people already making the mark in their field. Finance forms a huge part of entrepreneurship and hence financial advice can never be less. SheThePeope.Tv talked to five entrepreneurs and asked them their secrets for a healthy finance department.
She is the founder and a certified Life Coach of a wonderful initiative called “Happy Lives”. Kusha sums up her financial advice in five ways that helped her achieve the level she is at. The first step is – Plan – Save – Spend for infrastructure, loans or investments, if any, to start your business. Second, have short-term and long-term goals of targets and the vision you have. Third, hire a Mentor/business coach to polish your skills. Fourth, learn from failures and mistakes. And lastly – passion for your business is more important than money for success.
Sakshi Talwar is the founder of Rugs and Beyond. According to her, “Being financially independent in today’s day and age is of paramount importance and a basic necessity. Empowered women not only become self-sufficient, but also gain a sense of independence. One of the biggest advice I provide to a lot of young women is to start saving money and investing early. It is crucial to organize your finances for security and have a good grip on it in the long run. Lastly, building an emergency fund and saving for a rainy day will only make you thank yourself in times of crisis.”
Simran, founder of an exceptional e-bakery Ovenderful gives an insightful financial advice. She says: “My suggestion to women who want to be entrepreneurs, on the financial aspects, is – first, remember that you are in it for the long haul! So your venture will make money, but over a period of time, not immediately. Second, being organized and committed towards tracking and monitoring your finances no matter how big or small they are, is critical.”
“Always apportion or reinvest an amount from your earning towards more growth rather than calculate it as profit to be taken home,” – Simran Oberoi
At a panel discussion of SheTalksMoney, Gulshan Walia, founder of Infinitzus Consulting, shared some interesting insights. She says “Transparency in money management is very important between partners. Have a talk beforehand.”
Gita Ramanan, founder of the innovative Design Cafe, an online interior design firm, talked about financial aspects at a SheTalksMoney session. “Elders in the family know about finances, but they are not finance managers. So there are professionals to consult. Go. Ask. Invest.”
Rachna Chandira is an intern with SheThePeople.Tv