2016 Recap: 8 Best Pieces of Business Advice from LadyBosses this Year

This year, we have interviewed dozens of LadyBosses who have given us valuable pieces of business advice.

In this article, we recap the 8 best pieces of advice from female entrepreneurs we’ve featured.

On the importance of word-of-mouth communication:

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Advice #1:

“Word of mouth is one of the best form of marketing for us … we work on building relationships with our loyalists and they become advocates for our events which is invaluable. The other is partnerships through our network – collaboration is the future of business … there is power and strength in numbers. If we can share, to help someone else out, or introduce our community to something that we truly believe in, why wouldn’t we?”
– Stephanie Dickson, Founder of The Wedge Asia

Read our interview here.

On collaborations and partnerships:

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Advice #2:

“We’ve also realised that collaborations are crucial if we want to remain competitive, and have been doing our best to forge the important ties that bind. For instance, we’re working with PCC Products, a fully owned subsidiary of Thomson Medical Centre, to introduce our shapewear to new mothers and aid them in postnatal recovery and shaping. We’re also partnering with businesses whose offerings are complementary in nature (beauty salons, portrait photography, dating and image coaching, and more), and whose values are similar to D’Elegance, especially in delivering service excellence.  The goal is to reach out to as many women as we can – as long as you wear underwear, we’ll find you … word-of-mouth is still the single most important thing that has worked, and will continue to work, for D’Elegance. Whenever our client refers their loved ones to us, the happiness and pride that we feel is indescribable. It’s what keeps us going when times are tough.”

-Elida Teh, Founder of D’Elegance

Read our interview here.

On using time efficiently as a working mother:

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Advice #3:

“Now when I set up every meeting, either for work or leisure, I will ask myself a question: Does this meeting really worth my time? Do I really need to meet this person? Are there other ways to do it more efficiently?”

– Sally Maier-Yip, Founder and Managing Director of 11K Consulting

Read our interview here.

On qualities useful for entrepreneurship:

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Advice #4:

“Resilience, being able to be agile, good at multi-tasking and execution. As an entrepreneur, you have to be able to and willing to turn your hand to anything. You can’t just say, “I’m the boss and therefore I only do this”. This helps you build the respect with your team too.” – Chelsea Dunne, Co-Founder, Fincast

Read our interview here.

Advice #5:

On marketing strategy:

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Customer testimonials help drive our sales.  Parents love that they can give their children an educational game that can create a good habit (learning how to improve focus), but it really is the children who tell their friends that the game is so much fun that ultimately drives parents to purchase the product.” – Vernée Ho, Co-Founder and CEO of Playto

Read our interview here.

Advice #6:

On having direction in financial investments:

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First, you have to want it. Desire is a strong motivator. Know what you want financially. A clear focus and direction on what you want to achieve financially. A detailed financial plan on how you are going to achieve those goals. Focus on important objectives instead of glorified achievements. Don’t compare yourself with others. – Anna Haotanto, CEO, The New Savvy

Read our interview here.

Advice #7:

On setting yourself apart from your competitors:

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“In the beauty industry, a lot of things are done manually using pen and paper, which is inefficient and tedious to keep track of. In the past, people are more into spa relaxation treatments and it was more relational so customers took their time. These days, many people are busy and have less patience, so we have to be effective and fast. We have clients that want to come in for treatment and then get out right back to work. We worked with Spring Singapore on integrating technology into our process, increasing our productivity tremendously. Beauty services is very competitive and these days we focus a lot on innovation, new treatments to introduce and finding the best products so that our client can get access to the latest beauty trends globally.”

-Sandra Koh, General Manager, Theresa Beauty

Read our interview here.

Advice #8:

On seeking funding:

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“So I am going to first acknowledge there are some inherent biases and stereotypes we all unconsciously subscribe to. But I don’t think that means female founders seeking funding should behave very much differently from male founders. As with any difficult situation, do not let it get to you and do not give up. If an investor is making you feel like your gender is big deal, re-consider taking his or her money.”

-Shannon Lee, Analyst, NSI Ventures

Read our interview here.

What are some of your favourite LadyBoss articles this year? Share them with us!

Written By

Liyana is a Co-Founder and Editor of LadyBoss. She is also Co-Founder of Anagram Group, a corporate training company which serves over 100 MNCs and government clients in Singapore, Asia, and the UK. She also advises SMEs on their marketing communications strategy through her communications consultancy, Anagram Communications. Prior to Anagram, Liyana was Head of Communications for Singapore's largest foreign chamber, and Content Editor of Singapore Business Review. Outside of work, Liyana enjoys travel and spending time with her husband and baby twins.

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