Tips for women Microprenuers
In small businesses, cash flow is a major challenge. One should focus on liquid assets and it’s good to take an amount aside as salary or savings for rainy days.
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Do you remember Shashi Godbole (Sridevi) from the film English Vinglish. Despite the endless household duties, she pursued her passionof making sweets. Running a small business in her home with limited sources and self-maintained finance, Shashi was a character who reflected the life of a woman entrepreneur.
Once again, All Ladies League set up the stage for empowered women from across the world to sit together and share their journeys. Women Economic Forum brought together one such group of women entrepreneurs, sharing their tales of passion, sustaining their business and breaking the glass ceiling. These women are churning the wheel right to get things done and make their passion as profession.
One of the panelists, Ritu Harish Goyal talked about the challenges of being a microprenuer. After being a freelance journalist for 17 years and serving a two-year stint as member of bench at a consumer court in Delhi, Ritu is currently reinventing herself as a travelpreneur.
Her passion for people, adventure and experiences have culminated into a boutique travel company based in Pune called Ease India Travel, that offers ExperienceTravel a unique way of exploration.
Ritu said that to be a successful entrepreneur one must realize their area of interest. She said, ‘Do what you do best and outsource the rest.’
Adding on to that, she said, ‘One should go for a sustainable business model and reduce overheads. Also, there is only one person to run the business, so do not hesitate to take help but always remember that you have to stand behind each of your business decisions and be prepared to learn from them if you stumble as a result.’
She added, ‘In small businesses, cash flow is a major challenge. One should focus on liquid assets and it’s good to take an amount aside as salary or savings for rainy days. Collaborate with other entrepreneurs to expand.’
Ritu also said that one must rebrand the business as per macro industry trends. It takes perseverance to push past your comfort zone to the next level when you’re a micropreneur. India must keep alive the spirit of entrepreneurship and the idea should reach to millions of ladies out there, just waiting for the right time to start.