We all dream about it as we start our businesses; success, fabulous clients banging down our doors, tribes of followers wildly promoting our products and services and a beautiful bottom line.  But in reality it takes more than just great ideas and excitement to build a successful business.  The life of an entrepreneur is rarely an easy or glamorous one.  With estimated rates of survival past the five year mark only at half, entrepreneurship can be an extremely daunting venture for most (Source: SCORE Small Biz Stats).

And women entreps have even lower odds of survival.  According to SCORE, women account for only about one third of all entrepreneurs across industries.  (Source: Global Entrepreneurship Monitor (GEM) 2005 Report on Women and Entrepreneurship). So with the cards stacked against us, what’s a girl to do to get her business off the ground and running?

In my experience, surrounding myself with motivated, knowledgeable, successful and innovative people has been key.  Working with a coach, networking with peers and making sure my product was as amazing as I said it would be were the ultimate keys to my business’ success.

In an effort to foster a collaborative and supportive community for female entreps, I took this question to a group of super-fabulously successful women business owners.  Each week we will feature a new woman, sharing her insights, shining moments, hard-knocks and a bit about how they got there.

We’ll kick things off with the least of these- me.  I should be able to answer my own questions, if I want to ask the same of others!  See my own personal story below, and I hope you’ll be back over the next few weeks as I feature some of the best!

• What were you doing in life prior to starting your business?

Working as a Project Manager for a clinical research company.  I learned about the Virtual Assistance industry while on a job interview.  I had just finished college while working full time (I took the scenic route to my BA), and had just learned I was pregnant!

• What do you love most / least about being a business owner?

Most: Flexibility with work schedule, creating my own destiny, freedom to think creatively and out of the corporate box without someone squashing that (this has been incredibly liberating for me).  I really love to work on my business, and I like that being an entrepreneur fosters that.

Least: Long hours, having to hear my son banging on my office door crying for me while I finish up work.  Never feeling like I can truly take a vacation.  Having to be a CFO, Salesperson, Marketing guru and creative genius all while trying to get work done for my clients!

• What is your fave business book or author and why?

I am a business book junkie.  My favorite Entrepreneur is Martha Stewart, so I really enjoyed her “Martha Rules” book- it was pivotal in my career.  I also read alot of Seth Godin.  I would love to see Ryan Seacrest put out a book as I think he is so incredible about inserting himself in relevant ways across mediums (same as Martha).

• What business lesson did you have to learn the hard way? –> To this point, is there a mistake you see new entreps consistently making that you would caution them to avoid?

Biggest lesson that I have to continually learn every single day is that there are only 24 hours in a day.   Being an entrepreneur, I am constantly innovating and looking for new and exciting applications in my business.

I would caution new entreps to avoid the “I can do it all myself” mentality.  You will burn out faster than you can get anything done.  Make an investment in talented people to help you with tasks you either dislike or are generally not good at.

• What has been your proudest moment to date with your business success?

Any of my media days.  Being in the New York Times was a huge day, but being a Martha fan, I was so pumped to be on her radio show.  I also feel proud when I see my business growing and moving along without me- new clients coming in that I am not even involved with!  Exciting stuff.

• What are some of your biggest struggles/ challenges a business owner?

Family time is definitely at the top.  Until recently my husband was unemployed, so I was just working around the clock as a lifestyle.  It’s been hard to change that mindset, shift priorities and make time for everything (ie have a life!) now.  I also have a hard time with anything related to accounting, so I have a barter system with my accountant (will work for bank recs!)

• What new projects are you currently working on that you are comfortable sharing?

We have a couple of big projects going on: (1) I am re-branding my original VA firm, Delegate Solutions (details forthcoming!), (2) I am hosting the #30DayList Building Challenge with a great group of ladies (we are rocking that!), (3) We are running #EECoworking and Networking Days around Philly (exciting details here that I can’t yet disclose), (4) I am working on a fun product for work @ homers with a friend that we will be selling on Virtual Fabulosity. –> Sheesh!

• If you could be doing anything else with your time career-wise, what would you be doing?

I love what I do, cannot imagine doing anything else.  In the future though I have always had this dream of getting some formal training in interior design.  Looove to decorate!

• If you could hang out with any entrepreneur for the day, who would that be?

The Martha.  Period.  She’s the coolest.

Fun ?s

• Fave biz tool?

Anything google related.  I’m a huge fan of pretty much everything they touch.

• Favorite indulgence?

Good lattes and ice cream!

• Fave thing to do when you are NOT working ?

Sleep, hang out with Nathan, visit with my amazing girlfriends, read, go to the gym, watch E! or HGTV, brainstorm about my biz (for reals!!).

Up Next…

The Super- Fab Manisha Thakor- Personal Finance Expert on Women and Money

Manisha Thakor is on a mission to teach American women how to “own your finances & own your life.” She is absolutely passionate about personal finance for women. Through her books, articles, tv & radio appearances, speeches, and blog – this female personal finance expert inspires women to take charge of their money. Manisha’s financial literacy advocacy work has been featured in national publications such as: The New York Times, BusinessWeek, US News & World Report, Glamour, Real Simple, and Women’s Day. Manisha’s national TV appearances on the subject of women and financial independence include, CNN’s Your Bottom Line, CNBC’s Power Lunch, NBC Nightly News, ABC’s America This Morning and Fox Business Network. Manisha is also a regular personal finance blogger on The Huffington Post, a regular contributor to the nationally syndicated NPR show “51% – The Women’s Perspective,” and a monthly columnist for Military.com. When it comes to personal finance, budgeting is her favorite topic.

Manisha has over 15 years of experience working in the financial services industry. At various points in her career Manisha has worked as an analyst, portfolio manager, and client relations executive for institutional money management firms with billions in assets under management. Manisha received her BA from Wellesley College in 1992, her MBA from Harvard Business School in 1997 and is a Chartered Financial Analyst (CFA) charterholder. Manisha and her husband split their time between Houston, TX and Santa Fe, NM.