This International Women’s Day, we want to celebrate the amazing work of our female business owners.We interviewed the founder of the cosmetics brand, Nadine Oei. Loellaand founder Anna Morrison great apprenticetells us more about their story.
What advice would you give to women thinking about starting a business?
Nadine: The most important thing is to get your finances in order. Everyone says that if you follow your passion and do what you love, you will succeed. That’s great if you have the budget and money to back yourself up. Investing in your software skills and using tools like Xero to cut overhead costs is worth it (but even if you don’t have a financial background, having an accountant is the safest bet). growth of your business.
Also, we all suffer from self-doubt from time to time. I find it very difficult to try to eliminate it, but I’m trying to find a way to deal with it. I love taking breaks, going for walks, and listening to podcasts talking about entrepreneurship and inspirational stories to keep me motivated.
Anna: When I started my business, I had a lot of self-doubt. One of my biggest concerns was not earning enough to cover my share of the mortgage. So the year before I started my business, I topped up my savings. This gave me an economic “safety net”. It was psychological of course, but it really helped me feel like I had a plan B if things didn’t work out.
I was also surrounded by positive people, including female managers. I sought advice from those who encouraged me, gave me constructive advice, and asked well-intentioned questions.
How have other female founders supported you?
Nadine: When I started, I joined a women’s network group. We had lunch regularly. They mostly worked in completely different industries, but having supportive women around you and finding your tribe can help. . As a novice entrepreneur, you are always outside your comfort zone during work, so you need to find a community that you feel comfortable in.
Anna: I always try to support other female founders, and if anyone comes to me for advice or support, the positivity and construction that I found so valuable when I first left I try to make time to have a positive voice.
We often find ourselves experiencing the same challenges. Balancing work and family, the stress of growing and maintaining a team, finding a headspace that allows you to plan ahead for the next phase of business development, and acknowledging and celebrating your successes.
Just taking the time to connect and realizing that you are not alone and that there are other people with similar problems can be a real relief sometimes.
How can male founders and colleagues become better allies?
Nadine: By not assuming that a female entrepreneur who is a mother started a business as a hobby or a side business. Many women (myself included) have chosen the entrepreneurial path not to try to work less, but to have more say when they work. I am doing it while doing
Anna: I remember a key moment in my career when I was 19 years old. I had a big meeting with her boss. When we were seated, he asked me to sit next to him. I was terrified – I thought I had done something wrong. I muttered, “Why don’t you try both?” The boss said, “Anna, say it again so everyone can hear you.” My heart was pounding, but as soon as the words left my mouth, everyone in the room agreed.
Having a moment like that might feel petty, but it was very empowering and a confidence booster for a nervous woman trying to find her place in a meeting.
What advice did you wish you received when you started?
Nadine: A long journey that looks different for each person awaits. I’m sure there are a lot of “overnight success stories” that treat successful entrepreneurs as overnight celebrities, but if you dig deeper, you’ll find that they’ve spent years building their skill sets. It often happens. It’s important to measure yourself and where you are on your journey, keep your head down, and keep working as long as the runway allows.
Anna: I wish I had digitized my finances sooner. Creating manual invoices and trying to track and trace payments is one of the most frustrating parts of running a business. Xero has saved me an incredible amount of time.
What can businesses do to end gender bias?
Nadine: Don’t make assumptions about gender. For example, don’t assume that women get too emotional in negotiations. First, the woman may be good at negotiating. Second, emotion and empathy may be exactly what you need for that particular negotiation. Business isn’t as black and white as many people think.
Anna: I feel better, but I still have a lot of work to do. Perhaps some of the negative behaviors and language about women in the workplace have become less visible and accepted, but they still exist and need to be addressed.
It’s important to engage in genuine conversations that move our thinking forward. This means creating opportunities to reflect, share stories, identify what works, and interact frequently, rather than just holding one-off workshops. As uncomfortable as it may feel, hearing other people’s experiences is beneficial to everyone.