Your big idea for your enterprise can be within reach, capitalizing on these tips.

Anyone who watches the ABC-TV show, “Shark Tank,” can witness in just a few minutes how a great idea that someone believes in unequivocally can either get supported to the next level or attacked with keen criticism. They either leave elated or deflated, sent back to develop their business further.

So what is the best advice for women entrepreneurs? What strategies can you put into practice to see your side hustle or your business dream launch into reality?

Take The Lead’s Power Up Conference, “Together We Lead,” on Women’s Equality Day in Washington, D.C. August 26, features a roster of speakers including Daisy Auger-Dominguez, author of Inclusion Revolution, and artist and filmmaker Tiffany Shlain, who excel as founders and entrepreneurs. There are also multiple networking opportunities at the Power Up Conference to learn, connect and share your big ideas.

Ahead of the Power Up Conference, Take The Lead shares the most effective insights from leading entrepreneurs today who identify as female and why this is critical just not for individuals, but for the business and cultural landscapes.

“Ahead of the #PowerUpConference, @Takeleadwomen shares the most effective insights from leading #entrepreneurs today who identify as female.”

From how to finance your idea to how to expand globally, these 7 encouragements can turn your wish for a successful enterprise into a viable entity.

1. Trust is a must. Sharon Vinderine, founder and CEO of Parent Tested Parent Approved, leads a platform with 200,000 global community members. “Consumers need to trust companies and they need an easy way to find what is trustworthy.” That requires consistency, transparency and reliability when building a relationship with clients, customers and colleagues.

2. Research your audience. Know precisely who you are aiming for with your product, idea or service. Do not be vague, but do thorough investigations of what solutions you offer and what the customer or user needs and wants. Lisa Gates, CEO and founder of Concierge 4 B2B, who recently won the 50 Women in Entrepreneurship Pitch Competition with Take The Lead, says, “We’re a people solution operation. So we hire rockstar talent. We provide executive assistance and we customize HR solutions. We do this through innovation, and organizational development.” Gates adds, “My business partner and I plan to invest in target marketing, improve our search engine optimization (SEO), and improve our customer relationship management (CRM) tool to better serve our clients.”

“Your big idea for your enterprise can be within reach, capitalizing on these tips. #careeradvice #femaleentrepreneur”

Read more in Take The Lead on invoicing

3. Be bold with challenges. This does not mean it is advisable to be obnoxious or aggressive, it means being confident, informed and persistent. Gabrielle Union, entrepreneur, award-winning actress, producer and author, has several businesses, including a haircare product line launched in 2017, Flawless; a plus size clothing line, Love & Blessings; a wine called Vanilla Puddin; a line of watches through Invicta Watch Group and an allergen-friendly school-safe snack line, Bitsy, that she co-founded. “I wish I had one big story and one tale of triumph, but it’s daily, suffering daily indignities to your very being. This makes up my advocacy and struggle in the business since day one.” Union adds, “It’s important to differentiate between being nice—lying on the ground and saying, ‘Please run all over me,’ and being kind and considerate, which is basic human decency.”

4. Know your value and connect with others. Your time, ideas, work, connections and insight are all valuable. Treat them as commodities. Donna Smith Bellinger, C.E.O. of DS Bellinger Consulting, L.L.C. in Chicago, consultant, coach and trainer says, “Find a way to be an asset, as an emcee, a speaker, or even at the front desk. Connecting is what’s important. I have a time value calculator. You figure out how much your time is worth per hour. You need to know who will give you that back. You cannot be afraid to ask for what you want. Know your value and be able to articulate it.” Bellinger adds, “We need to understand our value. Some women say image is everything and everything will go their way. These women have great value but do not know how to translate that value into money. Or they want to be of service and help everybody and they don’t help themselves.”

“Your time, ideas, work, connections and insight are all valuable. Treat them as commodities. #careeradvice”

5. Authenticity matters. Look, act and speak like yourself. Yes, we all have shifted demeanors in different spaces—one way with your family at home, another way giving a speech in a large arena. But do not pretend to be someone else, do not adopt anyone else’s persona. Sydney Ryan, a co-founder and COO of cabi, wants you to look like you. I learned early in my career that I had to stop dressing like a little man. How you show up really matters. You walk into a conference room and people size you up and make snap judgments that can take a long time to reframe,” Ryan says. “But it’s not just about style, it’s about authenticity. You have to be true to who you are.”

6. Know that failure is OK. Expecting everything to go smoothly all the time is unrealistic. Learn from your mistakes and do not take failure personally. Fix the problems. Durana Elmi, co-founder and COO of Cymbiotika, tells MSNBC, “Stay true to your values, don’t follow the trends, and be prepared to fail and embrace it.” Growing her company from $1 million to $100 million in revenues in four years, Elmi says, “Failure is such a big part of the entrepreneurship journey, and the sooner that you can embrace failure and get back up and realize that every failure is a lesson learned,” the better.

“Know that failure is OK. Expecting everything to go smoothly all the time is unrealistic. #lifeadvice”

7. Make plans for the future and share them. While it may be challenging just moving from day to say, do not lose sight of the possibility for expansion in the future and what huge success would look like. Lisa Gates, CEO and founder of Concierge 4 B2B, says, “We intend to have global impact with recruiting and people operation solutions within two to three years so other organizations can feel confident in hiring the right people, onboarding, training and motivating them successfully to better support our clients' mission and objectives.” She adds,“We plan on sharing our story more often so we can inspire other women—and men—to start and build a successful business.”

Now is the time for entrepreneurs—especially women—to start new businesses, U.S. Chamber of Commerce President and CEO Suzanne P. Clark said at the recent D.C. Chamber of Commerce’s annual Women in Business Luncheon, Washington Informer reports.

“Now is the time for entrepreneurs—especially women—to start new businesses. #motivation #careersuccess”

“The entrepreneurial spirit is alive and well in the United States. We have 5.5 million new business applications,” Clark says. “Our world, our country, our city needs your gifts. Keep it up. The world needs more of it.”

Leadership Takeaway of The Week

“You cannot be afraid to ask for what you want. Know your value and be able to articulate it.” – Dr. Donna Smith Bellinger, CEO of DS Bellinger Consulting

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About the Author

Michele Weldon is editorial director of Take The Lead, an award-winning author, journalist, emerita faculty in journalism at Northwestern University and a senior leader with The OpEd Project. @micheleweldon www.micheleweldon.com