She Better Mind Her Business - Natalie Massenet

Courtesy of Marie Claire taken by Anthony Cook

I have been waiting for this story to show up on the Marie Claire site so I could re-post. Natalie Massenet, founder of Net-A-Porter, is one of my favorite female entrepreneurs. Her tips for success, while they seem obvious, hit me like a brick. Enjoy!

NATALIE MASSENET'S TIPS FOR SUCCESS

1. KNOW YOUR FIELD: "The important thing is knowing what you're going to do and being an expert in what you want to do. It can be something very simple, like being an artist doing screen prints on T-shirts. But don't pick an industry you have nothing to do with, and make sure you have a basic skill set or knowledge."

2. DEVELOP A VIABLE BUSINESS MODEL: "Start small, do everything beautifully, have the right people around you, and make sure what you do generates money, because you can't sustain a business that doesn't make money. It sounds simple, but a lot of people don't have any idea of how they're going to make the money."

3. GET IT RIGHT THE FIRST TIME: "Never forget that you only have one opportunity to make a first impression — with investors, with customers, with PR, and with marketing."

4. PLAN FOR THE LONG TERM: "When I started, my entire salary went into paying the nanny. But I knew my salary would increase. You are building something, and your business gets bigger. I can invest today and get the return tomorrow."