Frazer also touched upon the importance of exchanging gifts. “I think it can be such a useful business tactic, especially among women. All of us have something to offer someone else, and vice versa. So, it can be bold to ask people the question and see if you can do an exchange of gifts (ie skills).”

On sourcing funding for your project or business, Frazer recommended searching for grants that are widely available for many entrepreneurs and business leaders. “There are loads of organisations that are willing to give you money for your idea. I started my business with a £4,000 grant from the Prince’s Trust, and I went from there.”

She added: “There’s also the option of getting a bank loan – but please read the terms and conditions beforehand and never take out a personal loan! A business loan is what you should be looking into if you’re going ahead with this option.”

And the most important tool or skill that we should all know about? Knowing when to let go.

“My shoe business wasn’t my first choice. My first business was an online magazine, and I held on to it for such a long time because it was my baby. But it got to a place where I had nothing else left to give, and I had to let it go. Failure is an inevitable part of life, so it’s important to try out your ideas but recognise when it’s not working out and move on to the next thing.”

Tskenya-Sarah Frazer shares the business lessons every aspiring entrepreneur needs to know