Mompreneur Success is Like Building An Ark

Read more

Embracing Eclecticism: The Multi-faceted approach to business

Think Richard Branson, Oprah, Kathy Ireland, and the like.

These multi-passionate entrepreneurs have gone big time by embracing their eclecticism, and there’s a good reason for it.

It works.

Simply put, embracing all the facets of who you are means you’ll feel more satisfied in the work that you do. I’m a direct sales coach, and a mom entrepreneur. I fought hard to carve out a niche in the coaching arena and realized that it was only a fraction of who I was, and the work that I do well. In reality, I like working with all kinds of entrepreneurs, and my heart most resonates with parents – and entrepreneurial moms in particular.

So do I give up coaching direct sellers? Hardly! Not only am I good at bringing fast results for direct sales professionals, I LOVE it. Why would I give it up?

However, there are so many hours in a day. Any mom can tell you that. How do you bring all the things that you love under one roof? Here are my strategies for embracing eclecticism:

  1. Focus on one project at a time. This is a challenge for entrepreneurs, but in order to find success in anything, you’ve got to focus on SOMETHING – even if it’s only for a short time. I completed my book and developed my coaching client base so that I had enough income to pursue other interests. The more money you have to throw at a project, the easier it is to keep multiple plates spinning at once.
  2. Develop a reputation for excellence. If you sell crap, people will talk. If you deliver the goods, consistently, reliably, and with quality, people will also talk – and they’ll trust you when you branch out into other categories or markets. They’ll refer others to you based on their history with you – even if they’ve not sampled your new venture. When I launched The Renaissance Mom this year, I was able to introduce my existing clients rapidly to my new venture. I just launched the first product for the new company, The PEACE System, and I had more than 80% attendance on the live preview call (I’ve NEVER had that kind of turnout, and I’ve been told that 30% is more typical.) Some clients embraced it immediately, others sent me referrals because they knew my reputation for delivering a quality program. A reputation for excellence begets clients more rapidly.
  3. Diversify slowly. Don’t throw 15 irons in the fire. Give your new project enough focus to have a fighting chance for success. Oprah incubates projects under her care. Branson has an entire panel of people considering new venture investments. When you decide on something, take action to make it successful, but take your time when adding to your business “portfolio”.
  4. Grow your support team. Whether it’s support staff (VA’s, employees, etc.),  an emotional support team or a mastermind group, you can’t grow beyond yourself by yourself. A solid support team makes exponential growth easier, and more possible.
  5. Enjoy your success. It doesn’t mean a hill of beans if you have an incredible team of people and a highly profitable business if you can’t take time off to enjoy the fruits of your labor. Find ways (even small ones) to reward yourself and celebrate your accomplishments. It’s a form of self-care that shouldn’t be ignored.
  6. Rinse and repeat.

What about all those ideas you want to work on? Start with the low hanging fruit first – do what comes easiest, and add projects as time and money allow. I keep a mental lock-box of ideas for later use, and incorporate them into my PEACE System process each day. It’s fun to be able to pull them out (and dust them off sometimes), and figure out where they fit in the grand scheme of  ”my business empire.”

Don’t panic if you have a ton of ideas. Sequester them, assess them, and decide where to move first. Then you can come back later and add the others to your arsenal. You, too, can become the multi-faceted, multi-passionate entrepreneur you’ve always dreamed you’d become.

Exploding Websites for Fun and Profit

I am jealous – a little.

Okay, a lot. But it will pass soon enough.

My pal @elizabethpw remodeled her website. I’m sharing some of the pertinent insights to my audience on my direct sales blog, but today, I wanted to share the discoveries that are pertinent to you.

See I created that site eons ago, when I was just a fledgling online person. I shunned WordPress (not one of my better decisions, I’ll admit). I was creating pages by hand (still do sometimes). I thought I was doing well.

Then the other day, I got an email from Liz Pabon, where she wrote this:

Our inner knowing is like an attic filled with great treasures made up of our knowledge, experiences and wisdom.  And sometimes those treasures are blocked or hidden by the cobwebs of self-neglect.

And I got to thinking about all the “stuff” that’s crammed into that site. 2 years of teleclasses (yes, 2 freakin’ years worth). Classes, courses, downloads and handouts. All of it muddled, mixed around, and hard to navigate.

I was making it difficult for people to buy from me.

Now don’t get me wrong, I like earning my keep. I enjoy getting paid for the contribution I make. I think I do a pretty good job of sharing what works, and it’s important to my family that I’m compensated appropriately for my “genius work” as my coach calls it.

But buried within layers of links, pages and other subterfuge, it wasn’t easy to do business with me. And the irony is, I tell people time and again to make it easy for customers to do business with you.

I’m accessible. I’m probably too accessible. If someone sends an email, a tweet or a facebook post, I usually respond – and pretty quickly when I’m able. And I answer questions, provide tons of advice and strategies to help my clients and strangers who may never be my clients.

But on more than one occasion, I’ve had people say the very same thing that I read at the top of Elizabeth’s blog post (except that my name’s Lisa and not Elizabeth).

But in my own head, I thought I was being really clear. I was following all the “rules” about building an opt-in list, creating info products, doing launches, and sharing “free content” with my followers (you know, “the what” but not “the how” stuff we’ve been fed).

So I’m blowing it up – for fun AND profit.

I’ve had this vision for an entire training program much like a college curricula for direct sales pros that want to run their business like a real business. But it’s built around small group coaching – classroom style – and that violates “the rules” of online marketing.

See, according to “the rules”, I’m supposed to create content once, get paid to do it, and then re-package it into an info-product I can sell over and over. It’s a great way to produce “passive” income, but if you follow “the rules”, the bulk of that revenue comes during the product launch, and then trickles in over the lifetime of the product. The more affiliates you have promoting the launch, the more money you stand to make when it launches. Which is why you hear a LOT about people that have multi-million dollar launches, but then you never hear how the product does on the back end.

Things that make me go hmmm…

I’ve been doing this “info marketing thang” for a couple of years now, and when I was green, I was following “the rules” religiously. Step-by-step, cranking out teleclasses, setting up continuity programs, etc. And in the last three weeks it hit me that I wasn’t being authentic in my business.

For as much as I enjoy “passive” income. I had become a slave to “the rules” – and they really didn’t fit me or the way I wanted to do business.

Here’s the truth I’ve learned in the past two years in my online business:

  • People will buy info products, but they’ll pay more to work directly with you.
  • Info products by themselves are mostly worthless. They sit on shelves and collect dust. I think it was Dan Kennedy that said 20% of your customers will never even open the product. And to get USED to that. Um, sorry. That does not compute for me.
  • My business is seeing a shift towards hands-on help that guides people through the info products. And that’s because…
  • People get better results with hands-on help.
  • Small groups rock. The synergy, the energy and the masterminding that goes on is exponentially better than self-study, and bridges the gap between info products and live events.
  • The biggest payday happens at product launch. BUT…
  • Big launches leave big gaps in your cash flow.

There’s nothing wrong with helping people and getting paid to do it, folks. That’s what teachers and mentors have been doing for centuries. The catch is to price yourself accordingly for the services you perform. There’s always someone who thinks you’re too expensive, and someone that sees you as the bargain basement extra meal deal. The key is to find your own value in that mix and be fair with your pricing. There’s NO disputing the fact that hands-on help is worth more than info-products all day long.

That’s why you’re seeing a surge in live events, big ticket “masterminds” and ultra pricey one-on-one coaching programs – complete with swarming, affiliate-driven promotional launches.

But you can’t feasibly launch a big ticket item every month to keep cash flow consistent.

Even the “guru’s” are filling those gaps with smaller ticket product launches, generally joint ventures in a teleclass (small group) format. They can launch them every couple of months, and both partners benefit. In fact, one multi-million dollar guru has already launched 6 products in the first 3 months of the year. Talk about bombarding their audience!

But between affiliate and JV promotions, the cash flow keeps coming in.

Take a look at who’s doing what this year. You’ll see most of them moving away from continuity-based models (especially in light of the new California legislation), and towards more mid-price ($300-500), “one-time-only” tele-series and product launches. It serves the same purpose, but at a higher price point, and with fewer customer service issues.

My own business is taking a similar stance – albeit at a much lower price point in most instances. We’re blowing up HomePartySolution.com – and the entire online community that goes with it – to create a more streamlined user interface, and a more lucrative business platform for the direct sales portion of our coaching business.

In short, I’m going to make it so easy for people to do business with me that my clients will wonder what happened.

It’s not an easy process, by any means, and we’re considering documenting the process to help YOU shorten the learning curve if you ever want to do this in your own business. I estimate the entire site will be down about a month to test everything and make it all operational again – with all the new content we’re adding to boot.

The only thing that will still be live on that site is the home page opt-in for new ezine subscribers. I still plan on sending out the weekly ezine, and generating content behind the scenes. But we won’t be selling anything for about a month over there.

So how am I going to keep the employees paid and the family fed?

With a GI-NORMOUS product launch over here. :-)

Tickets for The Renaissance Mom Experience are slated to go on sale April 15. You can sign up for the advance notification list on that page. You have been warned.

The cool thing is that I’m able to continue to do what I love in a way that I truly enjoy. I am able to connect with the very people I enjoy helping and they are seeing better results because of it. I’m able to leverage myself as well (more on that in another post), and continue to grow both segments of my business (both here and on the direct sales side of things). I can’t wait for you all to see what new things we have in store this quarter.

What about you? I’d love your thoughts and feedback on this. Share your comments below, or send me a note on twitter.

The Dichotomy of Me

Never permit a dichotomy to rule your life, a dichotomy in which you hate what you do so you can have pleasure in your spare time. Look for a situation in which your work will give you as much happiness as your spare time.  - Pablo Picasso

Don’t misunderstand. I LOVE my work. I love the clients I coach, the flexibility I have to be with my family. There’s very little I don’t like…

…except having to choose between different projects. There’s only so much time in the day, and if I want to honor my family, and my client community, I have to be at least a little picky about projects I promote.

Many of you know I lead a sort of “double life”. I began my online career coaching direct sales professionals. Last year, I launched the Direct Sales Super Summit as a tool to help those clients (and others) achieve greater levels of success in their business. We had so much positive feedback, that we had to change the name to better reflect the audience. We now have about a 50/50 mix of direct sellers and small business owners. Changing the name was a tough call, but it enabled me to get folks like Jimmy Vee and Travis Miller to participate.

In that name change, though, was all kinds of anxiety for me. It meant stepping back from my direct sales focus and embracing the audience I now call home: business minded women and entrepreneurial moms.

The bulk of my clients are still direct sellers, but I’ve noticed that where other direct sales coaches and trainers often complain about how flaky their customers are, I have NEVER had that problem – okay, I had one customer that was a dork, but she flew the coop eons ago. My customers are loyal, honest, and willing to invest in themselves to grow a real business through their direct sales company.

Perhaps that’s the most important distinction: my clients see themselves as business owners. And yet, so much of the world still lumps all direct sellers into the “is this a pyramid scheme?” category.

So I’ve been torn between trying to be the champion of what I call “direct sales professionals” and working with entrepreneurs. The funny thing is, they are one and the same.

And I didn’t figure that out until just now.

I knew it internally. In my heart. I say it all the time – you are the business owner of “You, Inc.” and you need to run your direct sales business like a business and not an expensive hobby. But I also realize that message applies across the board to other entrepreneurs trying to get established in their industry: health coaches, theater owners, web designers, videographers, actors, author – you name it. You have to run a business with a focus on profit, otherwise, it’s an expensive hobby.

I’ve coached direct sellers, and I love it. I’ve also coached all the other clients I mentioned above. There doesn’t seem to be much correlation between them, does there?

Except for that “expensive hobby” concept.

So as I sit here writing this, it becomes even more apparent to me that I don’t need to decide between working with direct sales pros and entrepreneurs. In serving one, I am serving both.

Sure direct sales has a bit of lingo that goes along with it: bookings, recruits, shows, etc. But the principles are the same: create a sustainable business that will help my client achieve their goals, including flexibility of time, increased income, and the ability to live life on their terms.

That’s pretty much the same set of goals that most entrepreneurs have.

All this time, I’ve been told that I needed to choose. I couldn’t serve two masters. Managing two newsletters would be a challenge. As a result, I haven’t launched my newsletter for The Renaissance Mom community yet. I’ve been focusing on creating a separation between the two brands so that I could better ‘segment my market’ – whatever that’s supposed to mean.

The irony is that most of the direct sellers that read “PartyOn!” each week have also signed up to hear more about the Renaissance Mom – without much prompting on my part. And many of the people I expect to attend my live event this August are direct sales pros that are moms, who need to find balance in their lives, just like any other entrepreneurial mom.

Funny how that works.

So I’m all through with arm wrestling with myself – at least about this issue. There’s a box on the page where you can sign up for the new Renaissance Mom Newsletter (I’ve got to give it a name, though, I suppose). You can visit HomePartySolution.com to register for the newsletter for Direct Sales Pros, “PartyOn!”. Yep, that means I’m putting out two newsletters now. God help us all. I hope my assistant can handle all the spell checking.

It also means I’ll be launching new programs – maybe even at the same time. I have an entire system to help busy moms manage their lives and their business. I’ve been wanting to share it for almost a year now, and haven’t been able to find “the right time” to do it.  Here’s a glimpse at the projects sitting on my desk that are ready, and just waiting for me to get them launched:

  • Direct Sales 102: Sell More to Earn More
  • The PEACE System: Do less, achieve more in 10-20 minutes a day
  • Direct Sales 201: Core skills for Direct Sales Leaders
  • The Renaissance Mom LIVE Event (okay, that’s happening in August, but we haven’t started selling tickets yet!)

These projects are pretty much in the can. But I’ve been grappling with timing things, sharing too much info, and overloading my readers with too many promos.

Ugh. Maybe I’m expecting too much from my list, but I think you’re smart enough to know what will work for you and what won’t. If I’m sending you too much email, you’ll let me know – (I try to keep it to 1 or 2 messages a week if you’re not in a current program). If you’re on multiple lists, I trust you know what you’re doing. If I’m totally up in the night, I’m going to trust that you’ll call me on it.

And if I’m wrong, I’ll get a flood of unsubscribes, and I’ll have to start from scratch.

Does that sound reasonable? Am I just a goofball for actually putting faith in my list of loyal subscribers? I’d love your feedback. Post a comment below and let me know what you think about the projects I’m planning. Sound good? Sound stupid? Your feedback matters.

Duplicating Failure: The dark truth about ‘modeling’ and ‘duplication’

“Do or do not. There is no try.”
-Yoda

I posted a rant on Marie Forleo’s blog a few days back. In it, I made mention of the idea that we’re in an industry where we’re being told by the gurus to ‘model’ them. Model other successful people and we’ll see the same results.

Yeah.

Take a look around right now, and a lot of those people that are telling you to model them are suffering. And they’re LYING about it.

Well, not lying, just withholding all the truth and only sharing what makes them look good. There’s another blog post coming about lying later.

It’s not just a guru problem. Direct Sales leadership also oozes with it’s own brand of less-than-honest attitude.

I remember the day I sat in a regional meeting for the top income earner in the company. I was hoping, as most were, to walk away with some great ideas to help move my business forward. I wanted to learn, like the dozens of women in that room, her secrets to success – that had her raking in nearly a half a million dollars a year in less than 4 years’ time.

She stood up there telling everyone to go to vistaprint, get 500 “free” business cards and pass them out to everyone we meet – and do it every month to create new leads for our business.

I could have puked. I almost got up and left. But I stayed, and watched the reaction in the room.

Many of the newbies were frantically taking notes and talking about what a great idea this was.

They were duplicating a lie.

She NEVER built her business this way. And if she tried to do it – especially in this day and age – she’d be run out of town on a rail – or everyone would run screaming for the hills when they saw her approaching.

It was absolutely dishonest and a disservice to the women in that room that were looking for real help from her.

She offered a “duplicatable” failure instead of telling the truth: Direct sales takes effort - you need to practice your demo, even when you have no shows on your calendar. You need to learn your products and how they benefit your customers. You need to be “out there” growing your market beyond your family and friends – or building a website, creating a system that handles SOME of it for you (notice, I said SOME, not all). You need to establish yourself as an expert that your customers look up to – that know like and trust you.

Instead, we continue to hear the “duplication” mantra bellowed from even the direct sales companies themselves.

When a guru, a trusted source of information, tells you to ‘model them and learn from their success’ they darn well better be providing information that works.

And that’s the sticky wicket.

A lot of people “fudge the numbers” to make it LOOK like they’re successful.

Ask the leader that took home a $400,000 commission check just how much she actually PROFITED in a year.

After training materials, travel costs, phone bills, samples, catalogs, and other “tax deductible” overhead for training her team and running her business, you might be surprised to find that she’s only PROFITING by a small margin.

Now it’s still not bad to be profiting $100,000 a year, but if 75% of your income is going back into your business, you’re not being entirely honest when you boast about your $400,000 bonus check.

It happens in so many industries that it makes my stomach turn.

One such guru recently reported that nearly 80% of his launches each year were not successful.

80%?! Now maybe a successful launch to him means that it makes millions of dollars. To me, successful means it did what I set out for it to do. If I wanted to increase my list, it increased my list. If I wanted to make some money, it made some money.

Most small business owners can’t afford to duplicate something that fails 80% of the time! And even if you could afford to, WHY WOULD YOU!?!?

I have a “formula” that I’m sure is not very original:
How much to I need to charge to break even if only 2 or 3 people register?

It’s not glamorous, but it works. The only time I’ve ever had a “failure” is when I ignored that formula and ‘modeled’ someone else. Mind you, I like to do more than just break even (and most often do). This formula, however, ensures that I don’t go broke chasing ideas that could prove unprofitable.

Sometimes, if it ain’t broke you really DON’T need to fix it.

What does this have to do with Yoda? Here’s part two:
Duplication CAN work if you’re actually following a working system fully.

I recently got an email from a client who said that they had “tried” my system and failed.

Upon further investigation, they revealed that they had “tried” everything and nothing worked. So I offered to triage their efforts. The discovery:

hmmm.. less than 100 twitter followers – so that twitter thing doesn’t work, eh?

A TOTAL of three blog posts – all from 5 months ago – so that “blog thing” didn’t work either?

Two articles on ezinearticles.com – article marketing is a waste, too?

This is why I’m so insistent on people finding an area of expertise that they are passionate about. Onceyou do, you’ll never stop writing, blogging, speaking, thinking, sharing, teachign about it, because it juices you, you WANT to do it. In fact you find it difficult to NOT do it.

When I started, I didn’t do everything (and in truth, my website is in process of a much-needed and long-awaited makeover). I started with a few articles and a website. I grew that website by creating more articles, repurposed that content and continued to grow – THEN I added a blog, social media, etc.

Do one thing. Focus on making it great (not good, great). THEN grow and scale the system as you move forward.

When you take on something new, commit to give it focused attention for a specific amount of time. Keep your head down and keep working until the allotted time is up – then assess the situation.

It’s the reason so many info marketing products end up sitting on a shelf collecting dust – either unopened, or incomplete.

“Well, I read chapter 1 and I didn’t get it, so I just put it away for later.”

“Well, I worked on it for a little while, but it was hard.”

“Well, I never got around to opening it there was just so much there that it looked liek it was going to take forever to get through it all – I just don’t have the time to work on something like that.”

I’m probably a rare bird. Every info product I’ve ever purchased, I’ve consumed. If I plunk down my hard-earned cash, I want to see results. But I have a strategy for staying unemotional.

Here’s my evaluation/decision strategy for all those great looking courses, events, products and training opps that come my way each year:

1. Does this have the potential to help me leapfrog toward my goal this year?
2. How much time is required to implement?
3. Do I have the time to give?
4. What’s the investment?
5. What’s my expected return on investment?

These are 5 of my 10 considerations for investing in a program. Info marketers are GREAT at creating copy to get you emotional about your purchases. You HAVE to take the emotion out of the equation if you want to keep your sanity and your money.

So consider take the whole “modeling” idea with a grain of salt. No doubt there are many methods that will work for you that haven’t even been tried yet – or that WON’T work for someone else, but will work for you. That sounds weird, but I’ve seen it done.

Ultimately, the truth of the matter is that everyone is unique. While concepts can be applied to many situations (which often makes modeling effective), even the Law of Gravity can be repealed in certain ‘zero g’ environments.

Free or freebie? There is a difference.

In marketing, we talk about the power of the word “Free”

One of my Direct Sales Leaders was oft found telling her teams “People love ‘Free stuff’” in an effort to generate a feeding frenzy at parties. “They don’t even care what it is, as long as it’s free.”

Um. No.

There was a time when you could give away your business card with a coupon on the back of it for 10% off their next purchase, and people got giddy.

That bird has flown.

Free has been reduced to a watered down, hackneyed attemp on the part of almost everyone to get your contact info, pawn off old junk, or avoid the real work of coming up with something really valuable.

Freebies are those little “goodies” of insignificant value that people give willy nilly to their clients, potential clients, hair dresser, bell hop, flight attendant, and your uncle’s brother’s nephew’s cousin on your great grandpappy’s side.

Everybody gets ‘em, and very few people really want them. They accept them, offer a cordial “thanks!” and you think you’ve done a good deed for the day – or worse, that they’ve just invited you to share about your income opportunity for the next 45 minutes.

Stop it.

Free is a value proposition. Free doesn’t have to be expensive. It DOES have to be valuable.

Free will cost you something. More often than not, it’s not the monetary investment, but the time or effort expended to make, develop or acquire the valueable free item in the first place.

For example, when you’re creating an opt-in offer, be sure that the person would be willing to PAY for whatever you’re giving away. An ebook full of recipes is nice, but include a special, exclusive recipe that they can’t find just doing a google search. Yeah, it takes a little effort. But the effort you invest on the front end will pay you back many times over.

There’s a big hullabaloo going on right now that because so many people are giving away “free stuff” that you’re watering down your value. Forget it.

If the only value you have is in whatever you’re giving away, you’ve missed the boat. The idea is to give people a valuable taste of what you have to offer so that they want more. You’ve heard me talk about creating a customer “crack addiction” before. The idea that people get a taste,and can’t get enough of you. That’s how it’s supposed to be.

But if you’re getting a bunch of “tire-kicking, freebie seekers”, maybe you need to look at the value of what you provide.

If you know you’ve got a quality product or service, the next thing to look at is the market you’re targeting.

You don’t have to plaster the word “FREE” all over your website 8 gajillion times. Emphasise the value of what you offer, rather than the fact that it’s free. I’m sure your perfect fit customer isn’t a freebie seeker – so why market to them?

There’s a difference between free and freebie. The value makes the difference.