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Female Startups: Your Idea Into An Entrepreneurial Reality

Female Companies: The Growing Sectors

But what are the productive sectors in which female enterprises develop? Female-driven activities continue to increase in two sectors already strongly characterized by female entrepreneurs: service activities (over 2 thousand more companies), within which an essential component is personal care, and tourism (almost 2 thousand more female housing and catering businesses). 

But the army of business women is increasingly expanding their meshes also in sectors traditionally linked to the male presence: that of professional, scientific, and technical activities (almost 1,500 more female businesses), rental, travel agencies, and services to support enterprises (+1.453) and real estate activities (+1.004). After the trade, agriculture is undoubtedly the second sector for the presence of pink enterprises.

Many of these entrepreneurial realities are characterized by a vital component of social and technological innovation and an equally marked propensity to pursue environmental sustainability objectives. Technological innovation has contributed to the development of Industry 4.0 and female entrepreneurship, not only in the agri-food sector but also in sectors such as Fintech, the Internet of Things, and thanks to technologies such as Blockchain and artificial intelligence.

Many women are employed in the agricultural industry, and their numbers are destined to grow. Among breeders, fruit and vegetable entrepreneurs, and winegrowers, female farms in agriculture are almost 30% of the total, equal to 214,857 enterprises. Not only that, the women at the head of a farm are more than 1 in 3, with 8,500 tourist facilities and almost 40% of female employees in the entire sector.

Women’s Businesses And Eco-Sustainability

More and more women entrepreneurs are at the head of companies focusing on sustainability and reusing raw materials. The circular economy is one of the areas in which more and more female professionals are trying their hand at obtaining excellent results. There are sectors, such as textiles, in which, historically and traditionally, women possess the knowledge and operational skills.

First and foremost – it requires a profound change that facilitates the introduction of new production systems capable of triggering processes of pollution reduction, resource recycling, and climate change mitigation. The social purpose merges with the broad scope of environmental sustainability and the recovery of fabrics. The company proposes itself as an ethical partner of various textile companies for creating clothing lines made with otherwise unused quality fabrics.

Also Read: Succeeding With E-Commerce: 8 Tips For Marketing An Online Store

4 Tips For Transforming Business Ideas Into Business Strategies

If you have read this far, it may be that you are a woman interested in starting your own business or discovering opportunities to obtain funding that can support your business project. Here is a small help guide to transforming your business idea into a winning business strategy.

What Is Your Vision, And What Are The Objectives?

The business vision is not a secondary aspect of your project idea: it is the set of long-term objectives that define the company, a projection of a future scenario that reflects ideals, values ​​, and aspirations. To be effective, the Vision must have these characteristics:

  1. be clear and vividly describe an image
  2. relate to the future
  3. be easily remembered – although the length is variable, it is preferable to contain it as much as possible to facilitate learning
  4. contain expressions that appeal
  5. refer to realistic or otherwise plausible aspirations

The Reference Market And Benchmarking

Most ideas are based on the characteristics of a product. Unfortunately, the features of a product, even if exceptional, can be useless or ineffective if they are not aligned with your potential customer’s needs. It, therefore, becomes essential to define your target market, knowing the characteristics and behaviors of what are described as ” customer needs “: through a process of statistical research and an empathic approach, you will be able to identify with the customer, understand their needs, fears, and wishes. 

Once you have identified your target market, it is essential to do a Benchmarking analysis. What does “benchmarking” mean? The English term can be translated as “benchmark” and defines the standard with which to relate. It is a valuable quality tool that allows you to help the company continuously improve its processes by learning from the experience of others. How is benchmarking done? First, it is necessary to evaluate the operational processes to identify the strengths and weaknesses of the company; it is then required to determine the leading organizations that operate with particular efficiency and to discuss with them to obtain helpful information to improve their performance.

Clarify Your Business Model (And Criticize It)

The business model is often confused with the business plan. In reality, it is impossible to create a business plan if you do not understand the business model first. The business model aims to illustrate the relationships between your product or service’s production, distribution, and monetization. It is the analysis of the value chain. A business model presupposes the presence of an effective commercial and operational strategy and an organization of one’s resources, such as to guarantee the creation of good value for one’s business. 

From the business model, we can deduce many elements that will be part of the business plan: from human resources to technological competence, from purchases to marketing. Designing a business model requires a great spirit of self-criticism, continuous research of analysis and re-elaboration of strategies, and the continuous development of the ability to compare one’s model with others already in the same market segment.

Compare Scenarios And Use A Lean Approach

Strange but true: change is an opportunity, but it can become a real threat if it is not considered in the preventive analysis of your business plan. A few questions need to be asked: what could happen in the political, technological, or legislative sphere? What could be the impact of a new competitor entering your target market?

The ability to foresee the possible changes and the critical issues that may arise in one’s own operating context is essential to define objectives and implement countermeasures in the event of a worsening scenario. Assuming multiple scenarios, realistic but more or less optimistic, based on the influence of potential changes is essential for understanding the sustainability of your business model.

Also Read: Four Strategies For Modern Digital Marketing In E-Commerce

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