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Business Success Strategies 13 – 15

August 21, 2009

Today’s blog focuses on the last three pieces of advice to share with women entrepreneurs striving to succeed in business. These are the last of the fifteen success strategies that helped me grow and sustain my fifteen year old event management company, Five Star Events (www.five-star-events.com). I hope you find them useful in helping you grow your own enterprise.

Keep Your Prices Right

Over fifteen years I have altered my event management prices to reflect changes in the economy, adjustments to competitors and alterations in my budget. There also came a time when price increases had to stop in order to stay competitive in the marketplace. A wise entrepreneur must be diligent in analyzing their profit margin, understanding the ever-changing business market, and knowing where the best price point is for their customers.

Collaborate

I’ve always been an independent thinker and someone who achieves a great deal of work in a short period of time. Collaborating on events or projects with other individuals was something I shyed away from until a couple years ago. Now collaboration is something I embrace with the right people and with the right business purpose. Realize when opportunity knocks and seize the chance after evaluating the pros and cons of the opportunity. Not every proposal will be the best one for you and your company, but sometimes the right one can open up a world of great financial rewards and corporate growth.

Be Inspired

Less than a year ago, I realized women more than men love to be inspired. We thrive on inspiration. It’s one of the reasons I use the word so much when I refer to Women TIES. I haven’t found a man I could inspire yet – not even my husband or sons – but I sure have found an amazing amount of female clients and associates I could inspire. Realize that not only is it important to inspire others in your work, but take time to be inspired. Inspiration opens up the mind and soul allowing us to think creatively and expand the possibilities that lie in front of us. Sometimes it helps to inspire us to keep running our company for another 15 years!

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