Are You in Busy-ness or Business?

Have you ever worked with someone who constantly complains about how much work he or she has to do, and spends so much time on this activity that it’s no wonder why?

In the corporate world, this is the person who travels from cubicle to cubicle, dropping a trail of laments behind her. Or the one who can be counted upon to organize the next staff party, knows exactly who to call in the maintenance department, and whose Monday morning catch-ups last all day.

There’s nothing wrong with being helpful and sociable, whether in the 8-to-late environment or working for yourself, but there’s a world of difference between busy-ness and business.

Many business owners are stuck financially because they never learn this essential difference. So they’re continually busy, but their business doesn’t grow in spite of it.

When you’re in your own business it’s deceptively easy to be in busy-ness and not realize it. After all, there are so many moving parts that come with operating your own business, that you can be consumed daily with all of the little tasks that quickly add up.

When you’re busy, you’re most likely spending most of your time fulfilling client work and going from task to task on your to do list. One day tends to slide into the next, as you carry over items and find yourself fully occupied with correspondence, checking your email, dealing with phone calls and jumping in on the latest Twitter or Facebook stream.

Occasionally, you’ll vow to get serious about the “shoulds” on your list, like, planning ahead, working on your new website, and attending that upcoming networking meeting you’ve been too busy to attend for months.

This sporadic approach just isn’t going to get you where you want if you have goals of growing your business, getting more clients, taking regular vacations and making more money.

Successful business owners have mastered the art of getting the right things done, as well as knowing what those right things are. They’ve also put in place the kinds of structure necessary for their business. This allows them to focus on what is really important, as well as taking care of the day-to-day running of their business.

Many corporate fugitives, especially fresh out of the cubicle ones, shun structure as they see it as a flashback to their employee life. But the right structure is what will take you from busy-ness to business. Here are some examples of structure that make a big difference:

• Systems or procedures to handle the repeatable, predictable aspects of business in a consistent fashion (customer inquiries, sales, invoicing, are obvious examples)
• Delegation of work that can be done faster, better, cheaper by someone else, or that holds you back from the work that only you can do
• Automation of administrative functions like email and appointment setting – with the tools available today, you can save a ton of time by being more efficient
• Time set aside each week to work on business growing activities
• Clear areas of focus, week by week, month by month, year by year
• Specific and measureable goals

When you combine the use of systems and delegation, with a solid strategy for your business, you no longer wonder where the time goes, because you know exactly what you need to do and when. You spend a portion of your time working on client projects, and the rest of your time of activities that move your business forward, like developing new products or services, marketing, meeting with potential partners and new clients. Best of all, you aren’t left wondering where your time went, or what you need to do today!

If you’d like to learn more about building your business in a way that will get you these results, book a complimentary strategy session with Sherri today.

Is Genericide Killing Your Business Brand?

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Perhaps you’ve had this experience. You’ve held back instead of speaking up, or you’ve dismissed a nagging idea before pursuing it. Then you kicked yourself when you later watched someone else successfully pull it off.

Or perhaps you’ve started out strong and full of conviction, but let your fears get the better of you. You’ve diluted what you started with so much that you can’t even recognize it. You qualify your actions, speak in generalities so as to have a wider appeal, and avoid taking a definite position in fear of alienating someone.

Whether it’s in writing, in person, in small ways or big, we all do this from time to time. This holds us back from being clear in what we want, and therefore stops us from attracting it.

In business, it’s deadly! This silent killer is called Genericide. It is a crime committed against yourself, and it’s when you become so vanilla, that you have no flavor at all!

When you are a victim of Genericide, you:

• Don’t have a clear solution to an equally clear problem.
• Don’t have a single thing you are (or intend to be) known for.
• Don’t have a special something to stand out from the sea of vanilla.

Remember, business is a dish best served hot and spicy! If you don’t stand for something, as the saying goes, you’ll stand for nothing.

Here are 10 ways to prevent Genericide in your business:

1. Imagine your ideal customer as a real person and not an ethereal wisp you can’t seem to grasp. Your aim is to get to know this person inside and out!
2. Pay attention to how you feel. When you’re in the right “zone” you’ll feel it. Similarly, when you’re not being and doing what you are meant, you can feel that too.
3. Ask customers or trusted colleagues what they value about you. Now amp it up and make sure you’re delivering it and more!
4. Pinpoint what makes you different and celebrate it.
5. Build a soapbox and take a stand on it!
6. Put yourself out on a limb. Take steps that stretch you personally.
7. Meet and mingle with other business owners you consider “ahead” of you.
8. Set aggressive goals in your business. Make it a game – add zeros to your revenue targets. Then figure out what it would take to get there (make sure to check your doubts at the door).
9. Put more of you and less “them” into your business brand.
10. Stop comparing. Repeat. Stop comparing. And resist the urge to do what everyone else is doing, just because they are.

The more you find your voice, the more you’ll truly shine. This is where the magic happens!

Want to use this article? You can as long as you include this footer: Sherri Garrity is the Chief Corporate Fugitive and creator of the Five Keys Success System^TM for ex-corporate employees and aspiring entrepreneurs who want to break free from the confines of their corporate experience and  live outside of the ordinary. The Corporate Fugitive system demystifies the business of setting up, managing, marketing and growing a successful and extraordinary business. Visit www.corporatefugitive.com for information and step-by-step resources to take you from overwhelmed employee to extraordinary entrepreneur.

When Good Enough Goes Bad

This one’s a keeper! Download or listen here.

You may have heard the expression “Good is Good Enough”. Something about this statement has irked me ever since I first heard it, but I couldn’t put my finger on why until just recently.

You see, Good is Good Enough works in the right context. As I heard it, it was intended to encourage us to let go of perfectionism and to take action, rather than wait for that perfect time.

Perhaps you can relate:

If I could only get X done, it would be perfect.

If I was better at Y, business would be great.

When I finish Z, I’ll be all set.

Seeking perfection in these examples is really just a sneaky way to justify NOT moving forward,  and therefore avoiding risk.

But the trouble starts when you take the Good is Good Enough approach and let it run wild. When this happens and you go too far down the slippery slope, you can slide right into the Imperfection Trap.

When this happens, Good is Good Enough turns into Bad is Good Enough. This insidious mindset pest creeps in when you start to encounter obstacles and your natural fears begin to get the best of you. To protect yourself, you start to lower your expectations and hedge your bets downward, a little bit at a time. You chip away at your big vision to play it just a little bit safer. You’re starting to settle for less, without even realizing it.

At this point, it becomes very easy to cave in to your doubts. And you will have them, because the outcome of your less than 100% effort to reach your potential can only be less than 100% satisfactory results! Negative outcomes lead you to the path of diminished dreams.

As an entrepreneur, or aspiring business owner trying to get your new venture off the ground, this is a sad place to be. For many people, this is when they start to give up because the downward spiral of expectations, if not caught and checked, leads to an even lower point: Nothing is Good Enough.

Suddenly, every comparison seems to be telling you that your previously fabulous idea sucks, or that you’re coming late to the party. You’ll never catch up, and besides, someone else is already doing what you want to do, so why bother? They’re more experienced, have more resources, etc. You can think of a hundred reasons why you should quit now.

Before you know it, you’ll be throwing yourself a real pity party and completely talk yourself out of what started out as the perfect dream. Guess what? You’re now caught in the Imperfection Trap!

If you see yourself on this slippery slope of dream destruction, you can still turn it around.

1. Realize you’re not alone in having second thoughts or fears.
2. Stay committed to your goal. Don’t sacrifice or play it safe with your potential. If you find yourself pulling back, examine your thoughts closely. Are you settling, or giving up too soon?
3. If you are feeling discouraged, go back to basics of your business plan. Focus on your end goal, celebrate your progress and list all of the opportunities you have before you.  This is often enough to reset yourself.
4. Build a support system of other small business owners where you can safely share your challenges.
5. Work with a coach who can guide you, give you objective feedback and hold you accountable.  A skilled mentor will be able to help you separate your negative self talk from the facts.
6. Recognize that we often hold ourselves to a much higher (and often unrealistic) standard than we would ever expect from someone else.
7. Let go of perfect if it means you’ll move ahead faster, but NEVER lower or undervalue what you have to offer out of fear or doubt.

Follow these steps, and you’ll be climbing up that slippery slope in no time.

Want to use this article? You can as long as you include this footer: Sherri Garrity is the Chief Corporate Fugitive and creator of the Five Keys Success System^TM for ex-corporate employees and aspiring entrepreneurs who want to break free from the confines of their corporate experience and  live outside of the ordinary. The Corporate Fugitive system demystifies the business of setting up, managing, marketing and growing a successful and extraordinary business. Visit www.corporatefugitive.com for information and step-by-step resources to take you from overwhelmed employee to extraordinary entrepreneur.

Five tips from online business

Many aspiring business owners, as well as entrepreneurs who have been at it for a while, are lured by the promise of an online business model. After all, with all the talk of a four-hour work week, orders rolling in while you sleep, and hobnobbing with other high income internet business owners at five star resorts, again while making money, what’s not to like? Making a ton of cash with little output sounds almost good to be true, doesn’t it?

Before you whip out your credit card and sign up for every program you can get your hands on, let me burst your dream bubble (or at least poke it a little bit). It takes a lot of work to have a successful internet based business. In my experience, and based on meeting many other internet business owners who have done very well, there is no such thing as an overnight success.

Having said that, there are lots of elements that can be borrowed from the internet business model that work REALLY well for many types of service based small businesses. Here are five secrets of success that internet marketers master. See how many you can apply to your business!

More than one stream of income. Savvy and thriving online business owners have more than one main source of revenue. Even if they have a service business, they have built a business model that allows them to deliver a core service in multiple ways. There are at least 12 potential revenue streams that I recommend – you might be surprised at how many would work for your business!

A leveraged business model. Systems and the power of “one to many” make it possible for a solo business owner to create a financially lucrative business that doesn’t tie her down. There are many ways to add leverage: duplication of systems and processes, packaged services or products, passive product or virtual services, and power partners are all means of adding this secret weapon to your bottom line.

Consistent action and followup. Internet marketers are the masters of communicating a clear call to action, and following up persistently with potential and past clients. The low hanging fruit that ALL business owners should have are a simple website, a way to collect email addresses or otherwise keep track of website visitors, and automated email and electronic newsletter follow ups. If you’re not doing this, you are missing out!

Strong and focused brand. From the initial impression on their webpages, to their social media posts on Facebook, Twitter and so on, successful internet marketers have a clearly focused offer and message that is laser pointed at a very specific potential and ideal customer. Even if they offer multiple services to multiple audiences, they have a separate and distinctly personalized message to each target group (such as having multiple websites that are slightly different to attract the separate markets).

Technology adopters. Web savvy internet entrepreneurs embrace technology and are quick to try new (and ever changing) services and products. These tools make their jobs easier, and make it possible to take leverage and automation to new heights!

Whether you are a retail, service or product based business, online or off, use these tips to add more prosperity and freedom to your business.

Four questions to ask yourself when starting a business

Four timeless questions for corporate fugitives and aspiring entrepreneurs:

1. Who do we want to be?
2. What kind of people do we want to be?
3. What do we believe in?
4. What do we value or think is important?

(photo taken in classroom this morning – first day of Grade 3 for my daughter!)

Three Ways to Get the Money Moving in Your Business

We’ve all heard the expression that Cash is King. Behind every great man is one extraordinary woman, so if Cash truly is King, then Cash Flow has GOT to be Queen!

The truth is that no business can survive without cash flow. It’s what keeps your business alive. If you are willing to work for a long time without getting paid, or are undercharging, money is literally flowing away from your pockets and you are killing your business.

There are three ways to keep the money flowing to you, instead of away from your business.

Number One: Mind the Money

All the profit in the world from your best clients is no good to you if you have to go months without getting paid.

Make sure you are not undercharging, first and foremost. Also look for ways to get other streams of revenue in your business beyond your primary service. Set your products and services up so that they have multiple price points and graduating levels of service for existing clients, so that you rely less on the much more labour intensive work of getting new ones.

Look at your payment and finance terms to make sure they are paying you quickly. Require deposits before work begins, or even payment in full depending on your business. You can even create recurring sources of income, such as a monthly package that automatically renews. Add on options (think “would you like fries with that?”) that provide your customers with a no-brainer choice to do more business with you. There are many ways you can structure this.

Finally, you need to be sure you’re spending your time like it’s money – so that’s where setting your priorities, having systems in place and getting help all work together to make sure your business is profitable.

Number Two: Keep an Eye on the Money

If you don’t keep an eye on your expenses, and your income, you don’t know where you stand, you can’t make informed decisions, and you won’t know if you’re meeting your goals. You might feel great about the work you’re doing, and you might even have lots of clients and work to keep you busy, but you could be leaking money all over the place.

To avoid this keep on top of your receivables, bill and collect on time, and be aware of your expenses and commitments. Elizabeth Potts Weinstein of The Wealth Spa offers some great resources for small businesses and solo entrepreneurs. Here’s one.

Number Three: Mind the Marketing

It may not be obvious at first glance, but did you know that marketing and cash flow are directly related? The cash flow you have today is the direct result of your past behaviors – in other words, your marketing, and how you spent your time and money.

Many new business owners find themselves in a feast or famine business cycle, and think this is totally controlled by outside influences. Even though there are some factors beyond their control, the fact is that their boom times often lead to their bust times – because when they’re busy and feeling flush, they don’t market. When their sales are down, they’re in a panic to ramp up their marketing.

This is why one of the Corporate Fugitive Five Keys^TM is to show you how to create a marketing plan and routine that you will follow. Your marketing is what sets you up for future income – because it takes time for a potential customer to become a paying customer. When you’re busy and making money, it’s easy to be lulled into a false sense of security. You might slow down your marketing or neglect it completely. And since you’re making money at the time, you don’t notice any repercussion. You don’t realize that you’re stopping your future cash flow!

If you follow these three basic rules, you’ll be well on your way to bringing Cash and Cash Flow into your business.

Want to use this article? You can as long as you include this footer: Sherri Garrity is the Chief Corporate Fugitive and creator of the Five Keys Success System^TM for ex-corporate employees and aspiring entrepreneurs who want to break free from the confines of their corporate experience and  live outside of the ordinary. The Corporate Fugitive system demystifies the business of setting up, managing, marketing and growing a successful and extraordinary business. Visit www.corporatefugitive.com for information and step-by-step resources to take you from overwhelmed employee to extraordinary entrepreneur.