Inspired Business Growth:

I mentioned my recent motivational slump, which caused me chagrin. I’ve had to work really hard to get myself back on track, and I’m finally on my way to getting caught up. Since I’ve been my own boss on and off for almost eight years, I know all too well the challenges that face entrepreneurs.

They fall into the following categories:

• Inability to switch gears effectively. This includes both working too much and taking too much downtime. When I get too much momentum going in one direction or the other, I have a very hard time swinging things back to the center.
• Burnout. I know the early signs of burnout to halt myself when I find I’m working way too hard. But unfortunately, I know those signs from experience, and sometimes the only way to figure out your burnout threshold is after you have crossed it.
• Lack of return on investment of time/money/effort. I love going after the carrot. But when the carrot just keeps moving farther and farther away, it’s hard to continually work for something that takes so dang long to come to fruition.
• Lack of self-discipline. This by far is the hardest to overcome for me personally and also threatens my business the most. I can be very disciplined, but when I don’t maintain that discipline, things get out of whack fast.
• Time management. I’ve gotten much better at time management over the years, thanks to lots of practice. But this is the consistently the number one challenge reported by the readers of eMoms at Home.

So I’m curious: What are your challenges as an entrepreneur? What solutions have you found so far, and what things are still holding you back?

Sometimes when I look over my business experience in the past, I kind of wonder how I got here. I have no fancy MBA, I’ve never held a job for someone else for more than 1 and a half years, and my college degree is in Holistic Psychology with minors in Outdoor Leadership & Fine Art. In fact, when I started my first business, I had little experience to lean on other than working in a day care and being a waitress.

But today, my website is now one of the top 5000 US web sites on the internet.

I’m not the only entrepreneur on the planet that had humble beginnings. Lots of people can wait tables, but not everyone becomes a business owner. Was it the lessons we learned from our early work experience that contributed to our success as entrepreneurs? Perhaps - so I dug back into my memory in the hopes that I can beat that old cliche into your head again - if I can go from waitress to entrepreneur, you can, too!

People Skills Will Separate You from the Pack

I put this first on purpose. Building rapport is one of the most important skills you will ever use in business. It’s also one of the hardest things to teach. For most positions, I’ll hire someone who can make friends with anyone before I hire someone with a perfect resume. If you know how to work a table, I bet you are already one of the top earning servers. And you may want to consider a career move.

Initiative Can Make You a Lot of Money

The only way you make money waiting on tables is by getting the best shifts and taking on as many tables as you can handle. It’s the same with business - you may have romantic notions of working in your pajamas and taking naps in the afternoons, but in the end, only hard work brings in the bucks.

Don’t Allow Yourself to Get “Weeded”

Getting “Weeded” means having too many tables at once. You can’t take 6 orders or serve 6 meals at the same time - you’ve got to make sure the host(ess) staggers your seatings.

Yet many entrepreneurs really struggle with time management - working too much, taking on too many projects, or pursuing too many ideas (and not finishing any of them). Learning how to say “No” - to others as well as to yourself sometimes - is key to managing your workflow and productivity effectively.

If You Make a Mistake - Fix it & Get Over it

Nothing angers restaurant customers more than delivering their food order excessively late, or worse, incorrectly. Every entrepreneur makes mistakes - in fact, LOTS of them. The ones that succeed in business do two things. One :: make it right with the customer. Two :: don’t let it mess with your head: learn from it and move on - fast.

Learn the Art of the Upsell

We all know why servers suggest appetizers or another round of drinks - to increase the size of the bill (and their tip).

It’s critical to keep an eye on your expenses and cash flow in business, and you’ve got to have a profit motive. It may seem simplistic, but this actually one of the things I hear most from entrepreneurs. Quite often they have a hard time pricing their products or services to be both competitive and make a profit. Sometimes it’s the upsell that makes the difference between staying in business or going out of business.

You’re in a Service Business, Period.

The only waiters & waitresses that do well know to put their customers first. And it’s the same in every single business on the planet. You don’t go into business to make money and sell things. You go into business to add value and serve your customers. Though it’s a small change in words, the difference between the two is light years apart, and will make or break you.

This last summer, I met a fascinating woman named Paula at the BlogHer conference. She worked with a firm called GoldenSeeds, a company that supports and invests in woman-owned businesses. I made a light-hearted comment to her, saying “I want to be just like you when I ‘grow up’ - to be able to hang out at conferences and find talented women to give my money to”.

We laughed, of course, but it spurred a wonderfully inspiring conversation.

My life made a dramatic shift almost 4 years ago when I made the decision to make “contribution” one of my highest values. I found that when in sales, if I focused on getting the deal, I never did nearly as well as when I focused on serving my clients.

And as we chatted about making ‘giving’ a high priority in business, we both agreed that although it can be a difficult mindset to attain, letting ‘contribution’ lead your business decisions creates the most rewarding and successful companies we had both ever known.

I was so impressed as she talked about her company’s mission - they seek to find businesses that are not only led by women, but that exist to empower women as well. They also are extremely mindful of work-life balance issues and offer advice and coaching to women entrepreneurs - even to those that they don’t invest in.

Paula repeated a phrase that has stayed with me ever since our conversation - she said “we believe in giving of our time, or talent, or our treasure”. And I thought about all of the ways that entrepreneurs can take this to heart - even the youngest of entrepreneurs can give one of the three:

Time :: Volunteering hours to help other business owners succeed, whether it be via mentoring, consulting, or labor.

Talent :: Offering your expertise as advice, guidance, and as a teacher or leader.

Treasure :: Giving your money to businesses who need capital in order to grow and succeed.

Thus far in my career, I’ve mostly given of my time and my talent - and only recently have I been able to start giving of my treasure. I’m no angel investor, but organizations like Kiva let me “play angel” with small amounts of capital until I ‘grow up’.

How are you giving of your time, talent or treasure? And are there ways you or your business can do more to help other entrepreneurs succeed? And how do you think your company could benefit from giving more to your customers or clients, or to your community?

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!

Back when I ran my freelance design company out of my home, I had an interesting relationship with money.

• I hated invoicing clients
• I hated quoting clients
• I hated keeping records and bookkeeping
• I was late in paying subcontractors
• I never felt like I deserved the rates I was charging, plus…
• I usually under-charged for my work

In other words, I was a terrible money manager. I’ve also read with interest the thoughts of my fellow columnists on WomenEntrepreneur.com -

Kim Kiyosaki writes about wealth - both in spirit and in dollars in her article, Finding the Rich Woman in You

Marilyn August tackles the issue of money conversations head on in her article, Money: The Last Taboo

Interestingly, as I was coaching one of my small business clients a couple of months ago, the same theme emerged. She was struggling with ways to grow her business, and was looking at one of her competitors as a bar for setting her own rates. She didn’t feel like she was as good as he was, so she valued her work less than his.

Here’s the ironic part - I knew both her and her competitor well. I thought they both offered similarly valuable services. When I found out what she was charging, I was surprised, because I expected her rates to be about $25-$50 MORE per hour than what she was charging.

When I dug deeper - I found that there were some limiting beliefs hanging around in her mind.

• If she charged more for her services, she would think of herself as greedy
• If she charged more for her services, she risked more rejection
• If she charged more for her services, she would feel like a fraud

In this case - the conversation isn’t about money - it’s about love.

• If my client was greedy, she risked alienating the people she loves - not just clients.
• If she was rejected, she risked losing her own self-esteem.
• If she was a ‘fraud’, she risked jeopardizing her very identity.

Breaking through these barriers isn’t just about having more open conversations about money. And it’s not even about building up a positive self-image, which she already has.

It’s about looking more closely at the words she is using to define what money means to her - and also getting in touch with the consequences of holding onto these beliefs that are limiting her business and financial growth.

My ‘assignment’ to her was to write 7 definitions what “Greedy”, “Rejected” and “Fraud” meant to her specifically. Her vague feelings and thoughts around these words created a false association between what she was really doing vs. subconscious definitions.

Once we pushed to define ‘Greedy’, she started realizing that some of the definitions she had in place were not only limiting, but downright silly when spoken out loud.

So, what skeletons words are hanging around in your financial closet? I dare you to define them and to stop short changing your business - and yourself!

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!

Last year, we bought our dream house on a half an acre of land. It was a fixer-upper and the lot was heavily overgrown. It was rather painful and embarrassing to know just how crappy our house looked on the outside to our neighbors (who, of course, keep beautifully landscaped and immaculate lawns *sigh*).

On Memorial Day weekend, my husband and I had it. We broke out the weed-wacker, chainsaw and hedge trimmer and cleared out a huge area overgrown with shrubs, saplings and weeds. When we were done, we were astonished at what we found.

There was an old and magnificent Oak tree in the middle of our property - at least 70 feet tall and probably 80+ years old.

And we didn’t even know it was there.

Clearing out the yard felt incredibly freeing - indeed my whole body felt lighter as more and more stuff was cut down. The yard felt spacious, and my mind felt free and clear to focus on the things that matter most: time with my family and my growing business that I’m completely passionate about.

But seeing that “new” huge Oak tree made me realize I have a different kind of clutter I need to work on in my business: My relationship with money.

• We burned through our savings to get eMoms at Home up and running, and we didn’t really anticipate it taking that long to get things going. Only recently is the site generating revenue, but we are having a hard time getting caught up with old bills because of it.
• I hired a rather sloppy accountant for my business taxes in 2002 and the IRS is STILL looking for forms that weren’t filed correctly - even though they have been resent numerous times.
• And earlier this year I extended credit to a couple of clients that in retrospect I realize I shouldn’t have. (Read :: haven’t received a cent.)

The reason I bring all of this up is because the financial life of an entrepreneur doesn’t always go as planned. And the emotional weight of having unresolved tax issues and struggling to pay bills while working night and day on my business wasn’t anything I thought I would have to deal with when I first became an entrepreneur.

I know in my heart that someday soon I’ll be talking about the days when I was feverishly pursuing my dreams and how it was hard to afford the grocery bill.

Sometimes it feels right around the corner. Others, it feels a million miles away.

It’s times like these when I need a little inspiration of my own.

Tune in tomorrow to read more about finding the treasure hidden in the mess.

Does your company have a Mission? Do you want to increase revenue, create a positive brand, and enjoy thousands of raving fans of your product or service?

Of course you do.

This last weekend, I attended and presented at the Chicago blogging conference SOBCon - the Successful and Oustanding Bloggers Conference. The theme throughout the weekend was about building relationships between other blogs and businesses online.

Although the conference was specific to businesses that run blogs, it was interesting to find that all of the important blogging success stories could also be successful offline business stories:

• People needed to network with each other to build brand awareness
• Simple introductions turned into friendships, which eventually led to business clients and partnerships
• In order to grow, sometimes we needed to get outside of our comfort zone
• Successful people were passionate and enthusiastic about their chosen field

The passion part is the big one - all 110+ individuals in the room were passionate about their blogs and their businesses. But a couple of great questions were raised by one of the attendees:

Why is it important to be passionate about our businesses?

And how does positivity translate to dollars so that we can justify it to our clients, bosses, or customers?

Well, I can only give examples from my own experience on this one:

• Nearly every time I bid on a contract (as an art director) that I was excited and enthusiastic abou, I won the business
• EVERY time I really didn’t care or wasn’t interested in the business, I didn’t win the contract

• Nearly every time I write an article that I am excited to publish, I get an extremely positive response from readers
• EVERY time I write an article about something that isn’t important to me, I find that it also isn’t important to the readers

• Nearly every time I am with a sales person who loves their company or product, their enthusiasm rubs off on me. Whether or not I become a customer, I always spread the word about positive and honest people I want to do business with.
• EVERY time I am with a sales person who doesn’t care about me or my business, I buy elsewhere. Period.

Interestingly, passion in business isn’t exactly passion for the business. It’s a passion for a deeper meaning behind what the business represents.

People get excited about making a difference in other people’s lives with their product or service.

People get enthusiastic about making connections with others in their industry.

People love their business, or their jobs, when there is a higher purpose behind the day to day operations of what it is that they do.

Your company may have a mission statement. But does your company have a Mission? A purpose behind the business plan, and behind the bottom line? For many entrepreneurs, the answer is yes.

When companies grow with a real Mission behind the operations, real bottom line growth follows. But then again, when a company pursues a real Mission, sometimes the bottom line isn’t the most important thing to watch - rather, it’s the lives it touches, or being an entrepreneur who’s dreams come true.

By Wendy Piersall

When I was 26 years old, I was a single mom living with my parents. I had no business experience and an entry level job at a local day care. But I also had a dream.

I wanted a better life for myself and my daughter. As insecure as I was, a little voice whispered that I was put on this earth to be more, do more, and make a bigger difference. So I took a leap of faith and started my first business.

That decision forever changed my life. Twelve years and two more businesses later, I can honestly tell you I don’t know what the heck I was thinking at 26, and I was completely doomed to fail on all fronts! But I still draw inspiration from that decision, from that business experience and from the mistakes I made.

Today I know building a business isn’t easy. And sometimes I feel like I know less and less about entrepreneurship as technologies and trends change the game on a daily basis. Blogs are building transparent relationships between companies and customers. Consumers are defining and redefining brands on their own terms with user-generated content. Traditional advertising, marketing and PR already needs to be non-traditional in order to make your business stand out from the rest.

On Inspired Business Growth, we’ll be discussing all of the above and then some. How can we as business owners leverage the power of Web 2.0? Who are the women that are leading successful companies and successful lives, and how are they doing it? And where do we find the strength to grow our business when doing so requires us to go way beyond our comfort zone?

One of the most important lessons I have learned along the way is this: Stretching who you are and what you believe you and your business are capable of is never easy. But the stretch that pushed me to start my first business in my parents’ basement is the same kind of stretch that pushes me to now to speak at industry conferences, write one of the leading blogs on home business, and now write for Entrepreneur.com.

I’m excited to both write for you and get to know you as we grow our businesses together, inspiring each other to be more, do more and make a bigger difference together!