Advice for Women Business Owners: Insights from Hadley Wood, Founder of H. Linwood Insurance Services, Inc.
Owning and operating a business is an exciting journey that is full of growth, learning, and constant adaptation. For women business owners, this journey can be uniquely challenging and rewarding. Hadley Wood, founder of H. Linwood Insurance Services Inc. for 14 years, has been through the ups and downs of entrepreneurship and has valuable advice to share. Here, she reflects on the lessons she’s learned, the challenges she’s faced, and the ways she has found success.
Understand the Evolution of Your Business
When you start your business, it can feel overwhelming. The journey is not linear, and your business, much like a living organism, will go through different stages of growth. As a business owner, you will grow and learn alongside your business. You won’t have all the answers in the beginning—and that’s perfectly okay. Mistakes are part of the process, and you’ll often find yourself backtracking or adjusting strategies. The key is to embrace those moments as learning opportunities.
Don’t Be Afraid to Seek Help
As a business owner, you’re often expected to be a jack of all trades. However, the reality is that you don’t have to do everything yourself. Relying on specialists is essential to ensuring the success of your business. Whether it’s legal advice, financial guidance, or marketing expertise, getting the right people on board can save you time, resources, and potential headaches down the line.
Make it a habit to do annual assessments of how your business is doing and identify areas that need improvement. This practice will help you stay on track and make informed decisions about your next steps.
Be Flexible and Open to Change
The business world is constantly evolving, so it’s crucial to remain flexible. Whether it’s adjusting your product offerings, adopting new technology, or changing your business model, adaptability is key. Regularly evaluate how your business aligns with your goals, brand, and audience. This kind of flexibility will allow you to pivot when necessary and continue growing.
What I Wish I Had Known When I Launched My Business
Looking back, there are a few things Hadley wishes she had known when she first launched her business:
- Pick the Right Business Entity: Do your research and make sure you select the right legal structure for your business from the start. Whether it’s an LLC, S-corp, or another entity, the decision can affect your taxes, liability, and overall business operations.
- Get Your Contracts in Order: Ensure that your contracts with clients, vendors, and partners are clear, legally sound, and in your favor. Having solid agreements in place will protect your business in the long run.
- Understand the Entrepreneurial Struggle: Hadley also notes that your non-entrepreneur friends may not fully understand the unique challenges that come with running a business. The long hours, sacrifices, and constant problem-solving are things that often don’t resonate with those who are not entrepreneurs. Surround yourself with people who get it!
Celebrating Milestones Along the Way
One of Hadley’s fondest memories as a business owner was reaching 200 clients after just two years in business. The moment was a testament to all the hard work, perseverance, and dedication she had poured into her business. To celebrate, Hadley worked remotely from the beaches of Mexico—balancing work and relaxation in a way that highlighted the rewards of being an entrepreneur. Reaching that milestone was a reminder that success is a process, and those small wins should always be celebrated.
The Power of Community: How Hera Hub Has Helped
For Hadley, finding a supportive community of like-minded entrepreneurs has been a game-changer. Hera Hub has provided a safe, collaborative space where Hadley can connect with others in similar situations. As a work-from-home business owner, it can be isolating, and Hera Hub has offered access to invaluable advice, resources, and encouragement. The ability to reach out to other entrepreneurs for support has helped Hadley overcome challenges and stay on track.
Final Thoughts: Enjoy the Journey
The path of entrepreneurship is filled with twists and turns, but it is also incredibly rewarding. Hadley’s advice for women business owners is to stay patient, flexible, and always be open to learning. Celebrate the wins, big and small, and understand that mistakes are part of the growth process. Most importantly, enjoy the journey of building something from the ground up, and embrace the process of learning and evolving as both a business owner and an individual.
To all the women out there running businesses—remember, you’re not alone. With the right support, the right mindset, and the right resources, anything is possible. Keep growing, keep learning, and keep enjoying the ride.
Please visit this link to connect with Hadley for insurance services.