Inspired Business Growth:

Sometimes I feel like it is a futile attempt to get all of my entrepreneurial knowledge into my blog, but getting it all into a book would be even harder. I don’t know how author Susan Payton pulled it off, but if there was a book with nearly all the bases covered for a new entrepreneur, this book would be it.

But the book, 101 Entrepreneur Tips, is a small book, you wonder… and yes, indeed it is a trim & sleek 128 pages. With each tip being one page, you’d be amazed at the amount of info which is packed in here. What I love about this little purse-sized gem is that it does cover nearly everything - with just the right amount of detail to let you know if you either know enough about her tip, or it sends off that little warning signal that says, “Uh - I’d better go do more research on this!”

Susan covers business planning, customer service, communications, sales, marketing, networking and raising capital. She really hits it out of the park with her business planning section and the marketing section, covering everything from market analysis and operations to podcasting and search engine optimization for press releases.

I especially love her mix of tips blending traditional marketing with online marketing. Sometimes I forget about offline marketing tactics because my business is so heavily focused online. Especially since PR is one of my weaker points, I loved Tip 43|Targeting Editors With Your [Press] Release. Here’s an excerpt:

Ever feel like your press release goes off into a black hole? It does. So how can you ensure that relevant editors read your release and consider it for a feature or additional coverage?

1. Target Your Editors: Press release distribution programs allow you to select the channels where you send your release. You can choose categories like medical, entertainment, health and automotive. Don’t be greedy and send your release to all. Stick to relevant industries to ensure interest from editors.
2. Follow Up: Editors get hundreds, if not thousands, of press releases each day. By following up to see if there is interest in your release, you stay on the mind of the editors in your industry. Even if they can’t accomodate a story on your news now, if you stay in touch, they may need you later for a quote or interview.
3. Send Your Release Directly: If you feel your release is relevant to local news, fax or email a copy to the editor of the section you feel it fits best with. While they may not take notice of your story through the media channel they use to get news, receiving a copy of the release from you with a personal note (followed up by a personal phone call) increases your liklihood of getting coverage in the media.

Overall, there were a few topics that were absent from Susan’s tips such as financial management and work-life balance. Yet those things sometimes need a whole separate book to address, which is I’m sure why she left them out.

Lastly, I found that even as an experienced entrepreneur, this little book was a good reminder for me to get out of hyper-focus mode to remind me of a few sides to my business that needed some attention. But for a new entrepreneur, this is such a simple and easy guide that I really would highly recommend it.

Susan Payton also runs Egg Marketing & PR. 

Last week I talked about the importance of work life balance as an entrepreneur. In my experience, too little balance can actually put you out of business, especially if you are a solopreneur. It doesn’t mean you can’t work hard; there are times when you have to put in extra hours in a business - just like sometimes you have to take extra family time, or extra me time to keep sanity in check.

So how do you fit little balancing acts into a busy workday, or keep your head on straight when you are in the midst of a huge project? Well, since I’m rather desperately in need of these tips right now (in the middle of a huge project!!), I figured I would share my research with you.

1. Set up a “busy schedule” and stick to it

   You probably have a normal daily routine, and it all gets out of whack when things get busy at work. But work can suck you in, and you can justify far too many hours in the name of growth. So set up a routine for “busy days” - perhaps you work 2-4 extra hours, and stick to that schedule, working nothing beyond it.

2. Schedule down time

   Schedule things like “break”, “coffee”, or even “video games” into your calendar just like you would a conference call. Protect and honor your downtime with just as much care, too.

3. Squeeze in walks

   Whether you park further away from the office or store, or you work from home, try to squeeze in short walks (I’ve started walking my kids to school regularly). Not only does it force you to reconnect with yourself, but it also gives you some exercise which will improve your concentration when you are working.

4. Ask for help

   Sometimes so hard for an entrepreneur to do, but so necessary if you ever plan on growing your business long-term.

5. Say NO

   Ditto, ditto, ditto!

6. Avoid overwhelm by making lists

   Usually the only time I get really overwhelmed is when I can’t keep track of everything on my plate in my head. Usually when I make a list, I can either see that it’s not all that bad, OR that I’m being totally unrealistic in my expectations of myself and I carve off stuff immediately.

7. Focus on your outcome, not current problems

   When the going gets rough, it’s hard not to look at the problems you are facing - but focusing on problems tends to create more of them. When this happens, remind yourself of your outcome - your end goal, which will help to push you through the hard times as the anticipation of your reward draws near.

8. Put your perfectionism on the shelf

   There is a time and a place for perfectionism - when things are busy, consciously choose the areas in which you are willing to slack. You can’t be perfect at everything, so don’t even try it, unless you want to crash and burn.

9. Get support

   Whether it be business or personal support, busy times call for a morale boost on a regular basis. Hire a temp virtual assistant or call a good friend - anything to ease the burden you may be feeling.

10. Eat at least one meal a day with family or friends

    I’m so guilty of eating while working. STEP AWAY FROM THE COMPUTER, MA’AM, and nourish both your body and your soul for an hour.

11. Set up accountability

    I have several people in my life that will hold me accountable to my word - and that includes whether I promise to meet a deadline or if I promise to take my kids to the zoo. Finding an accountability partner is a really great productivity tool, too.

12. Build in consequences

    Although there are always natural consequences when things don’t get done, sometimes we just take the easy way out. But for really important tasks, I will set up a consequence for myself if I don’t get it done. Usually I’ll put together a to-do list including work tasks and things like meditation or a walk. If I don’t have the entire list done, I promise my blog readers I will pay the consequences, like a $100 donation/loan to a Kiva entrepreneur.

13. Eat right

    I tend to get sick when I work too much - but that’s also because I don’t pay attention to what I am eating whenI’m under the gun. Good nutrition will help you work smarter, relax easier, and recover from the long hours faster once you’re back to a normal schedule.

14. Set up email filters

    I receive over 1000 emails a week - but even if you only receive 100, you should filter your email. It’s the only way I can sift through the messages to know what needs my immediate attention, what can be deleted immediately, or what can at least wait a few days until I have to respond. This has been one of the most time and energy saving things I have ever done in my business.

15. Turn off email and the phone for set hours

    I hear from several colleagues that this works - and quite well. Honestly, this is one I’m not so sure I could pull off myself - but hopefully you can!

16. Play hard

    When you finally do get your down time, live it up! If your mind is still in your office, you aren’t really getting down time. Be present to the moment when you’re playing, and the experience will energize your mind and your heart.

17. Know your own “Relax” buttons

    Everyone has a few things that are guaranteed to bring your stress level down to normal. Whether it be a glass of wine, a massage, or curling up with the latest Harry Potter book (my favorite!), know your ‘relax buttons’ and get them on your schedule now.

18. Watch your estimations

    I admit I am terrible at estimating what I can get done - my eyes are always bigger than my day. When things get busy, I’m even worse, and I risk over promising and under-delivering. Under stressful times, knock off 10-20% of what you think you can accomplish to be sure you’re not letting anyone down.

19. Get a coach!

    A life or business coach is an excellent solution to keeping busy schedules in perspective - and they will always be able to point things out that we have a hard time discerning for ourselves. Some are so good that over time you will be able to accomplish more work in less hours, which is a great return on investment in and of itself!

20. Lay down the law

    Pick just a few from this list and lay down the law with yourself. Use that accountability if you have to, and religiously practice work-life balance. The more you take care of yourself, the easier life and work become, anyway!

Whenever I mention that I am an entrepreneur and that I work from home, the most common reaction is the envy of the flexibility and freedom I must be enjoying. I usually debunk that myth right away. An interesting study done just a few years ago actually points to the exact opposite. According to Strategis:

The evidence is strong that the self-employed work longer hours than employees; this has been the case since at least 1987. The self-employed worked 40.8 hours per week in 2003 compared with 35.5 hours for employees, on average. Even more striking is the large difference in those who usually worked over 50 hours per week in 2003: 33% of self-employed persons worked over 50 hours compared with only 5 percent of employees.

There are scary statistics out there to warn potential entrepreneurs - especially the fact that according to the SBA, 50% of small businesses fail in the first year, and 95% fail in the first 5 years. Common reasons include not enough capital, lack of knowledge, poor planning and insufficient cash flow.

I sometimes wonder about my second business, which was once a thriving graphic design and small business marketing firm run out of my basement.

I started it working 20-30 hours a week. Then the economy started taking a dive in 2001-2002… and to make up for lost clients, I started taking on more jobs that paid less. So I edged up to 40 hours a week.

Soon thereafter, I was easily topping that number. Other factors started coming into play, and I started liking my work less and less. Yet to pay the bills, I had to work more and more.

I remember hitting a breaking point in late 2003. As a designer I had enjoyed a life-long appreciation of fine art. I remember one day looking at a painting, and having to look away. I was so burned out on design, layout, and illustration that I couldn’t even enjoy looking at someone else’s creations anymore.

I think I knew at that point that my business wouldn’t be around much longer. And that’s when I realized that burnout is just as lethal to your business as lack of cash or knowledge.

Questions I have asked myself include wondering if I had managed my time better, would I still have experienced such a high level of burnout? And if I hadn’t expereinced that burnout, where would I be today?

Honestly, I’m grateful every day for the experience. Not only has it led me to my current business, but it also taught me the early warning signs of entrepreneurial burnout. I’m fond of saying that I believe that sometimes the only way to know how to balance work and life is to know when you’re unbalanced. In retrospect, there were so many warning signs in my freelance business that I should have listened to - I should have taken more time for myself, and spent way less time in front of that dang computer, and when that little voice gave me warnings, I sure should have heeded their call.

Today, even though I still can push 50+ hour weeks at times, I’m so much more balanced.

And how do I pull that off?

Tune in next time for Part II - 20 Work-Life Balance Tips for the Overworked Entrepreneur.

When I was a kid, I lived in a Chicago suburb with a thriving and quaint downtown shopping area. It wasn’t a mall or a strip mall - I mean a real downtown with a train station, neighborhood bank, farmer’s market, city hall and little one-of-a-kind shops that were owned by people who lived in our town.

Although many businesses have come and gone since I was a kid (not THAT long ago!), technology and the Internet has changed the way we do business, plain and simple. Some of the shops that used to dot our neighborhood shopping areas will simply never come back to a brick-and-mortar way of doing business. Others are ‘endangered species’ - ones that with just a little more momentum will be gone in the next few years.

Sometimes the culprit was the convenience or advancement of the Internet. Others, it was the in-store technology of large chain stores that made it easier and cheaper to carry a wider variety of products.

In all cases, business found a cheaper and more efficient way to deliver in-demand products. In the end, it also meant that many small mom-and-pop stores either have had to change with the times or go out of business.

1. Record/CD Stores
2. 1 Hour Photo Shops
3. Video Rental
4. Camera Stores
5. Neighborhood Bookstores
6. Niche Art or Craft Stores
7. Travel Agencies
8. Neighborhood Grocery Stores
9. Neighborhood Movie Theaters
10. Independent Pharmacies

As if I thought that a few overdue invoices were a problem yesterday, I received an email today from one of my entrepreneurial friends. Seems as though that when she sold her business, her attorney was about as sloppy as they come. And he didn’t make sure that she wouldn’t be held liable for the new owner’s mistakes.

So what “mistakes” did the new owner make?! They haven’t paid rent for over a year. The shop is closed down and my friend is likely facing a $60K bill for back rent, which will force her out of her own home or into bankruptcy (or both).

So Where is the Inspirational Entrepreneurial Lesson in All of This?

Indeed, it’s not inspiring to hear about the financial mishaps that business owners make. But I hope this is one of those things that can inspire via a little “warning”. Hindsight being 20-20, here’s what I can say about what has happened with both my friend and I:

• For the client who didn’t pay, I didn’t listen to that little intuitive voice that said “Don’t do the work until he has some cash”. I thought that by giving him some free coaching, he would be able to get himself back on his feet and turn around and pay me in a reasonable amount of time. Logically, it was a good move. But intuitively, something said that the situation didn’t feel right.

  Lesson Learned :: LISTEN to your intuition, even when it is only a whisper and barely heard. It doesn’t mean that you have to do everything your intuition says, but it is criteria that is just as important as logic.

• For my friend who is about to lose her home, I have to say that EVERY professional advisor she had when she first started her business told her NOT to do it. Her first lawyer said no, her accountant screamed no, and even her friends (myself included) expressed reservations about the deal. By the time it came for her to sell the business, she had lost a ton of money already. But at least we thought she was done with it.

  I know my friend would say that it was a wonderful spiritual journey that led her to her current career, and I would have to agree with her. But I do wonder if she could have found a different path to her current career without the financial devastation she has experienced along the way.
  

  Lesson Learned :: DON’T make business decisions solely on what feels good at the time. And if you are going to hire advisers to guide your business, for God’s sake listen to the people you are paying to help you.

• One thing I know for sure, both my friend and I are not the first nor last entrepreneurs who are facing big obstacles on the way to success. When I think of what Donald Trump has overcome in the last few decades, these problems are tiny specks.

  The only way these experiences can actually hurt us is with our permission.

  And it’s times like these that I find great strength in little sentences:

  • For every mountain there is a miracle. ~ Robert H. Schuller
  • There is no failure, only feedback. ~ Author Unknown
  • If you find a path with no obstacles, it probably doesn’t lead anywhere. ~ Frank Clark
  • It still holds true that man is most uniquely human when he turns obstacles into opportunities. ~ Eric Hoffer

And my favorite of all, reminding us to live and be the person we were born to be, no matter what happens around us:

• Obstacles will look large or small to you according to whether you are large or small. ~ Orison Swett Marden

Here’s to being bigger than we thought we could be, to living our dreams instead of living in fear, and to transforming our challenges into capital of the entrepreneurial spirit!

The Stevie Awards were created to honor and generate public recognition of the efforts, accomplishments, and positive contributions of companies and business people worldwide. Beginning with The American Business Awards in 2002, they have since added The International Business Awards in 2003, The Stevie Awards for Women in Business in 2004, and The Selling Power Sales Excellence Awards in 2006.

The Stevie Awards for Women in Business award nearly 50 companies or individuals with top honors every year. Entrepreneurs, executives and companies are recognized for achievements such as:

• Best Entrepreneur
• Best Executive
• Mentor of the Year
• Best Overall Company of the Year
• Most Innovative Company
• Business Turnaround of the Year
• Employer of the Year
• “Women Helping Women”? Award
• Blog of the Year
• Online Advertising Campaign of the Year
• Marketing Campaign of the Year

Last year, my own blog eMoms at Home was one of two finalists for Blog of the Year which was awarded to the phenomenal marketing blog, Vertical Response written by Janine Popick. The awards ceremony was held in March and was MC’d by Randi Kaye of CNN with awards presented by Carolyn Kepcher from The Apprentice.

The Stevie Awards founders have recently put out a call for 2007 entries. With WomenEntrepreneur.com about to launch tomorrow, I hope to see many of you on the winners list!