I don't know a single entrepreneur that didn't start their business with some type of do-it-yourself (DIY) approach. Most of us begin with more time than money, and it makes sense to capitalize on that resource. In fact, I tell would-be clients all the time that the less money you have, the more you need to rely on "other resources" - friends, colleagues, connections, skill-sets, and other means of getting the job done without cash. In the direct sales world, I see a LOT of new consultants relying on family and friends to keep their business afloat (if that's your problem, you can fix it with a little Direct Sales 101).
For other entrepreneurs we often get a little too good at doing everything ourselves, and that creates a problem.
That's the point where income and time are roughly equivalent. It's not generally a lingering point, because responsibilities typically rise in correlation to our income. I'm not sure I agree with Upamanyu Chatterjee when he said, "the more money you have, the more hassles," but you get the idea. When things are roughly equivalent, we have to get ruthlessly honest about where we're investing (or spending) our time and money. Eventually, though, things ease up and we once again have either more time or more money.
Once we have more money than time, it makes sense to start liberating our time with some of our money. Yet, in the last couple of years, I've noticed that people are killing themselves (some quite literally) trying to do too much. I've mentioned Jon Morrow's story before, but his is not an uncommon tale. When the financial meltdown started rippling through my client's lives, I saw many folks tightening belts and even going dark to "ride out" the economic storm. Yet, history tells us that the companies that fare best are the ones that keep showing up and keep sharing their message even during hard times.
So how can you tell if DIY is still the way to go? There are several questions that bear exploring:
You've probably heard the old saw "everyone's a genius in a bull market" - right? Essentially, anyone with a website could slap up a paypal link and sell their stuff like hotcakes during the earliest days of this century. There were info product "gurus" hawking their schlock for $997 - and it was a pdf copy of a 3rd generation photocopy of a 75 page "report" that was poorly edited, and an MP3 of said guru reading the PDF aloud (I'm not joking). There might have been a few gems in there, but you had to dig through so much crap that it almost wasn't worth your time. The prevailing logic at the time was that if one gem could turn your business around, then who cares if it looks like crap? That was the advent of the "fail fast and fail often/good is good enough" mentality that swept the internet.
The problem was that it wasn't even good, let alone good enough. Stuff like that doesn't pass muster anymore. The bar continues to rise. Videos I filmed three years ago don't measure up to the new HD footage I can shoot with my webcam (my WEBCAM, people!). If there's more sizzle than steak, word gets out, and people stop buying. So if you've got inferior offers, it's no wonder your business is killing you. Maybe you need to invest in a team that will turn your offer into something people actually want to buy - or invest in a few beta testers to get feedback before you launch. Either get help or get out of the offering.
I truly believe you can make a living doing what you love (and in many cases a VERY GOOD living). If a grown-ass man can make money on youtube unboxing and talking about Transformers or doing video game walk-throughs, then I have no doubt in my mind there's an audience for whatever you love doing. But you can't offer crap or people won't keep showing up.
When responsibilities rise to meet income, many entrepreneurs forget about profit until the end of the year. They see profit as an event (income minus expenses, right? WRONG.) They just keep watching the dollar bills roll in... until they stop rolling in. Then they look at their business, start cutting costs, and scrambling to "stay afloat" - when they're already sunk.
You need a profit plan, and you need to follow that plan during the feast and the inevitable famine. Business, like so many things, is cyclical. If you're overspending when money is abundant, you'll be in the hole faster than Alice and the White Rabbit once the money dries up.
Look at more than just your income and outgo. Consider your long-term growth plans. No business can continue to grow indefinitely. Tastes change, markets change, and entrepreneurs have to be willing to pivot, shift, and serve their markets in meaningful ways. A profitable business today may not be profitable in future years (Blockbuster Video, anyone?), and a smart business owner keeps pace with the changes. If that takes up too much of your time, then a coach, an accountant, or another financial professional can help you keep your finger on the pulse of your business.
This is where it all comes down. You can work like a dog and have a profitable business, but have no life to speak of. Likewise, if you're constantly "re-investing" into the company, then you're not creating something sustainable. You're blue-balling your business (yes, I said it) - stringing it along and keeping it from really performing.
I had a client that owned a screen-printing company. The company was recognized for doing great work and the employees liked working there. My client was an investor, he didn't work in the business. His good friend was the owner, and wasn't particularly responsible with the income. So my client had stepped in as an "investor" to make sure payroll would be met on a consistent basis. Year after year my client plowed money into the company to keep it afloat, but when we looked at the books, the company wasn't sustaining itself. It wasn't profitable, but he didn't mind plowing the money into the company because it kept his friends in jobs. I told him he was blue-balling the company and that they needed to sit down and get real about their revenue plan. I told him he needed to have this conversation with his friend sooner, rather than later, because the company wasn't really a business!
He told me he didn't have time to have that conversation because he was busy with his own job (where all the "investment " money was coming from). Plus, he didn't want to "get into it" with his buddy. So the company hobbled along for a few more years before his buddy finally bailed on the business. Now, he's got a solid business manager in there running things. Hopefully, he'll be able to turn the ship around and create a profitable, sustainable business.
You can pump all your time or all your money back into your venture, but that doesn't mean you have a business. It's certainly not sustainable. If you can't walk away from your business to practice some self-care, or take some time to "just be" then something's amiss.
If your business can't run for a time without you, then you're the problem, not the solution. (Tweet this)
Hire someone to look at the numbers and give you some ruthless honesty. Give yourself permission to get support in creating or delivering your offering. Maybe you're lousy at writing sales copy - get a copywriter. Maybe your training style doesn't resonate with your team, hire a pro. Don't force yourself to be everything to your company, or your company can't survive without you. The day you get sick (or worse) is the day the company goes under. That's not a profitable sustainable business. That's just crazypants.
How have you set yourself up for success? What are you doing to ensure that you're not the bottleneck in your business? Share what's working for you in the comments below so we can all learn from one another.
As I hear clients, colleagues, and friends sharing their goals for 2015, there's a chorus being repeated over and over:
"This year is the year I FINALLY break __ figures!"
I've heard it so many times that it makes me dizzy and sad to think about the number of folks who continue to miss the mark on this particular goal each year. When I ask why they haven't hit their goal yet, I hear lots of "reasons" - but ultimately, those reasons all mask the truth of why they really haven't hit their big income goal - whatever it is.
First a warning: "Big income goal" is relative. Like dream shame, the fact that you have a goal means it's big. For you, it might be 10 figures, or 6, or 5, or being able to finally quit the day job. The number doesn't matter. The principles are the same regardless of the number of zeroes at the end of the figure.
Why is it that most entrepreneurs that dream of making "mucho dinero" don't hit their big income goal? Here are a few reasons I've encountered (both on my own journey, as well as with my clients): (more…)
I'm not one for social commentary or deep philosophical discussions, so consider this the "light version" of any meaningful conversation about the nexus of technology and society. This isn't a commentary about technology, though. It's more about what's unwittingly happened to people as we've become more "connected" to the world.
The Industrial Age gave us cookie-cutter, assembly line techniques for being efficient and crafting a uniformly effective offering.
That's awesome in a survival-based world, where cranking out quality stuff in quantity is important.
But that's not the world we live in anymore. On the whole, we are wealthier and healthier than we've ever been as human beings. Yes. there are exceptions to the rule, but most of those folks aren't reading this anyway, so it doesn't apply to them.
This applies to you. You, the person that's been cramming yourself into the same cookie-cutter mold for decades (or railing against it), because that's all there was.
I've been pretty lucky to "grow up" in the digital age. I'm technically not a Millenial, but I'm on the cusp. I built one of the first e-commerce websites back when animated gifts were all the rage (the first time), and video wasn't even a glimmer in the Internet's eye.
In that time, there've been lots of "game changers" - which is almost silly to say. The advent of the Internet is like watching an infant grow into a toddler and then a teen - everything is new, thus everything is a "game changer". But the one commonality I've witnessed over the last 20 years is the growing ease with which people can access, use, and contribute to this technology - and how this new-found ease impacts their work.
10 years ago, the idea of watching your favorite TV show or a feature-length film on your stylish CaseFace phone was insane. Now, mobile and "third screen" viewing has eclipsed television, and will likely continue to do for the foreseeable future. The ability to take your media with you has relegated newsprint to the birdcage, and magazines I loved reading as a kid have gotten thinner and more ad-laden.
Less content, more commercials. A sure-fire end to most anything.
One look at Maslow's Hierarchy of Needs will show you that we've done a great job (on the whole) of getting those basic needs met. As I said before, we're wealthier and healthier than we've ever been in human history.
Here's another great example from Chip Conley, which condenses the pyramid into three layers (particularly the "employee" pyramid, which he's condensed to "money", "recognition", and "meaning").
Maslow's theory is that we work our way up the pyramid, once we've assured ourselves that our more basic needs are met. Once we've handled the basics like, food, shelter, clothing, saftey, and a paycheck, we can concern ourselves with "higher" issues like love, a sense of belonging, or recognition. Ultimately, once those things are handled, we can search for "self-actualization" or the meaning of life, if you will.
Here's the problem in a nutshell. We've been pushed up the pyramid, whether we like it or not. Computers have "connected" us, and made things incredibly easy, yet so many of us weren't ready for the shift.
Now, building a career can happen remotely. For my last job, I applied, interviewed, and was hired digitally. I worked from my Michigan home, and the company was thousands of miles away on the west coast. All my contact and interaction was digital: email, skype, webcam. No handshakes, no eye contact, just pixels.
Love and belonging (at least on some level) are just a facebook post away. When I'm feeling blue, I can post a simple "Hugs please" on Facebook, and my friends come out of the woodwork to encourage me. I never got that kind of instant gratification & encouragement before the Internet! So work, networking, and even relationships have gotten more efficient, thanks to technology.
We've got all this time on our hands, and yet we're stuck.
We're stuck because, now that the basics and middle-ground issues are being "handled," we have to look to ourselves and find meaning - something that takes time and can't be short-cut.
"Why am I here? What makes me valuable if a computer can do my old job in half the time? What real value do I bring to the world?"
We didn't have time to deal with these questions before. We had work to do, dammit, and that had to come first, so we could eat - so we could SURVIVE! But now, with all this time on our hands, we're having to face these questions - and some of us have a boatload of anxiety, depression, fear, or ambivalence toward it.
To make matters worse, we've been taught that thinking of ourselves is selfish and inconsiderate, and we are, therefore "BAD" for behaving that way.
No wonder our culture sometimes feels like it's on a downward spiral.
The truth is, you've been doing it since you were born. You "took" your first breath, and it's been downhill ever since. In reality, you can't NOT put yourself first. It's just that our culture has made it out to be some sort of a crime because there are those among us who would take it to the far extreme. Putting yourself ahead of everyone else - at all costs - is a kind of selfishness that often comes from a place of fear.
Self-care is not selfish - including in your work. (tweet this)
More and more employees are jumping ship to work for themselves. I'm meeting more entrepreneurs who left corporate America after only a few years of being disillusioned about their prospects with their employers. I'm also meeting entrepreneurs that are carving out a name for themselves by defining success on their own terms. They're creating businesses and offers that take into account how they like to work, who they like to work with, and what they want their life to be like so that they can experience success now - not in 35 years. They see that there's no pot at the end of the rainbow, that "someday" doesn't come with a big red ribbon, and they're deciding what they really want and going for it now.
To "older folks" entrenched in the ancient ways of the Industrial Age, it feels a bit like treason. It's definitely shaking up their snowglobes - the idea that they can give themselves permission to walk away from something they don't love and do something that brings them joy - and get paid to do it -still strikes fear into many of my older family members. They grew up in Depression-era America, where you got one job and stuck with it until you were old enough to retire, take the watch and the pension, and then go have a REAL life - if you lived that long. I know many employees of the assembly line factories who literally gave their lives to their work, dropping dead within a few days of retirement.
I've said before that now is the best time for you to create a business (and a life) that works for you. Of course, that means getting clear on who you really are and what's really important to you. It means doing the work at the top of the pyramid, and finding the meaning that matters...
... to YOU.
For some folks, this might seem foreign, or scary, but there are countless people in the world doing it. In fact, I'm launching a new series next year that spotlights these folks (more on that in a later post). They are becoming the norm. Gone are the days of three television networks and multi-national conglomerates that corner the market. Now is the time of what I call the "experience economy" - and creating a life for yourself that matters. It's reaching smaller, tighter markets and making a big impact. It's happening now.
On Monday, I'll be leading a free teleclass called "Success Your Way: How to have a profitable, sustainable business that works for you in 2015... and beyond." If you're at all interested in riding this wave of business with meaning, I invite you to join me. You'll learn more about this crazy "pyramid scheme" called business, as well as how to figure out which stage of growth your business is in and how to shape it to this new experience economy... which might sound more technical than it really is.
In short, we'll talk about how YOU can create a business that works for you, based on how you define success. And if you're not sure how to define success, we'll talk about that, too.
How are you dealing with the way technology has pushed you up the pyramid? What has been a blessing (or a curse) for you because of it? Share your comments below.
Over the past couple of weeks, I've been offering up tools, ideas, and resources that I usually find helpful this time of year to help me get a jump start on the new year. From The Success Finder, to my new Dream Owner's Creed, and the Profit First Instant Assessment, each has been a part of what I use to get more clarity and move more confidently toward my future.
This week has been a little heady for me. On Sunday, I posted a song from my last concert with a story about a music teacher who realized his musical dreams as part of one of the most influential progressive rock bands in America. But then he had a kid, started looking around at the world, and realized that things weren't always what they were cracked up to be. So he wrote a song of hope as he was birthing his son into the world.
I still get a little teary-eyed when I hear that song. A bunch of people emailed and tweeted to connect with me and share that song with their networks. I didn't expect that kind of response from such a simple hymn-like tune.
Then, on Monday, we launched the Dreamblazing program with very little fanfare (there's still time to join, if you'd like). I've been going through it right along with the participants, and in the process, I've gotten the gut feeling that a lot of people are feeling stuck right now.
And I wanted to do something about it.
From now through the end of the year, I'm inviting you to schedule a no-cost 30 minute session with me to help determine your next steps in having a business and life you love. This isn't therapy, counseling, or tax/legal planning - that's not my area of expertise. What I'm good at is seeing the big picture, and how all the parts and pieces fit together in a way that creates more meaning, gives you more freedom, and provides you with a clear path to a profitable, sustainable business.
I call that a Noble Empire and an Inspired Life.
Interested? Click here to schedule your time.
What to expect:
Once you're scheduled, I'll be sending you some simple instructions. Nothing heavy-duty. Just the basic background info. Then, when we're in session together (call or skype), we'll dig into where you feel stuck, and I'll help you see where to get unstuck. It might mean referring you to a book, program, or professional that I know that can help. Or it might just be a mindset shift we can make right on the call. Whatever I think will be most helpful to you (based on your current situation), is what I'll be sharing with you in our session.
There are lots of reasons, actually. Because of the projects I've been involved in this year, I've not had a lot of time to lead teleclasses or workshops. That means I haven't been connecting with you as much as I'd like - hearing what's going on for you.
Being out of touch with your clients means you're out of touch with what's important to them (click to tweet). That's the fastest route to going out of business! Talking with you individually really helps me know who's reading my posts, what's going on in your world, and how I can better serve your needs.
Also, this is the time of year when things can get pretty crazy and a cool head, or objective viewpoint can be a blessing. I have the space in my calendar and I'd love to be that third eye for you!
Lastly, each year around Thanksgiving, I try to do something to give back to my online community. Last year, we gave away over 1,000 copies of my book, and we're doing another book re-launch next week (watch for an email on Monday!)
This year, I wanted to do something a little more personal. I've got a phobia I'm working on overcoming, and this will really help me immerse myself in serving with love instead of focusing on fear.
While I can't guarantee everyone will get a spot on my calendar, I've opened up hundreds of time slots over the remainder of the year (limit one per person, yo!). If you've ever wondered what it's like to work with a coach, or what it's like to work with me, there's never been a better time to give it a try.
In blessings and peace,
-Lisa
P.S. Last time, I promised to share a video I filmed about dealing with toxic relationships. You can find that here.
I chuckle now as I look back on my collegiate career. Convinced that I was "too poor" to be able to afford to hire a band, a graphic designer, or a business manager, I learned how to do all those things myself. I took classes in business, law, graphic design, and music. My first album (recorded during my time in college) features no other instrumentalists. Every track was laid down electronically. I mixed my own vocals, designed my own cover. I did have a friend shoot the pictures, but that was only because he had a camera and was willing to help.
Can you imagine the comic nature of me trying to set up a shot, run around to the back of the camera, set a timer, and run into the shot again? Don't laugh. I found myself doing exactly that in a recent photo shoot for The Sweet Browns - a vocal group I'm working with locally. I think we ended up taking that shot 4 or 5 times before I got situated in time for the flash.
In my family, it somehow meant we're weak, that we can't do "it" on our own... whatever "it" happens to be. I grew up in a family of strong, independent women, and had a pretty stubborn lineage of men in my life as well. We simply didn't ask for help. The downside to all that independence is that you pass it on. I watch my boys (8 and almost 18) think they have to have it all figured out. That they simply can't ask for help. They either have to wait for it to be offered, or they have to struggle through the frustration on their own.
(more…)
Never before, and probably never again am I
gonna do something like this.
Give a look at this week's video. If
You have ever had projects that you felt like giving
up on, I challenge you to think differently. You'll
never experience success if you keep saying you're
gonna get to it "someday."
Let yourself off the hook!
You deserve a little bit of time to clear your head - maybe some
down time, sure - but if you keep quitting before you start, you'll
never get where you want to go. I'm
gonna share with you a little secret... When you
run through this video, you'll see what I mean. Somewhere
around the 1:13 mark, you'll find out my "third approach"
and how it can help you get through task overwhelm. If you feel lost in the
desert on the number of projects you've got on your plate,
you are not alone. Just remember that quitting is
never the answer. It's gonna take stamina, it's
gonna take determination, it's gonna take sweat equity to
make your dreams come true.
You deserve to stand tall and own your dreams. Don't
cry about missed opportunities. Keep pressing on!
Never give up on what really matters. I'm
gonna say that again. Never give up on what really matters!
Say to yourself that you're worth it! Say
"goodbye" to negative thinking. You're
never going to entertain those thoughts again. You're
gonna take the world by storm!
Tell everyone about your awesome new plan...
a plan that will give you power over overwhelm. Don't
lie around waiting for "someday" to sneak up
and leave you high and dry. Get over your
hurt and let the world know how lucky we are to have
you in it!
(Or just watch the video and it will all become clear)
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It can be a real challenge to find even a little piece of quiet during the day. But quiet stillness is a daily must-have if you want to stay sane and allow for the blessings that come from intuitive/divine guidance.
This week's Convo features Joanna Weston, a certified Martha Beck trained life coach. We talk about finding stillness, what coaching is (and what it isn't), as well as how she's helping her clients create space for the sacred.
Visit Joanna and learn more about her "Creating Space For The Sacred" program.
The Convo returns! This week's video is a segment from Module One of my Spotlight Sessions program. The program launched today, and it felt like this segment was important to share with you.
Where are you at in your 5 Key Areas? What could you be doing differently?
For some of us, there comes a time in life when it feels like everyone has given up on you.
You might even feel like giving up on yourself.
Don't.
As I write this, I've just returned from spending the day in the hospital with my oldest son. Suffice it to say he's on the brink of giving up on himself. He waffles, as I suspect many teenagers do, between thinking he's the greatest thing since sliced bread and seriously wondering why anyone "wastes" their time with him.
If you've followed me for any length of time, you know the trials (more…)
by Leela Sinha
[Editor's note: This is day 18 in the Be Your Own Guru series. Leela offers us a 7-minute audio that speaks out about the information our body sends us all day long - and how we need to stop ignoring it if we want to experience peace, pleasure, and balance in our lives.]
Highlights of the audio:
1:13 - The double edged sword of "letting go"
2:30 - Ways to achieve balance
3:10 - An exercise to connect to your true self
4:00 - The smartest part of you (hint: it's NOT your brain)
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Leela Sinha is a certified coach and ordained minister focused on helping you experience real pleasure. Following pleasure isn’t about shutting down everything else. It’s about having a way to find your heart again. Leela says it's "the most engaging, exhausting, invigorating play I’ve ever done. It certainly feels too good to be associated with 'work'. But it’s not exactly relaxing. It’s more like summiting a fabulous mountain with an amazing companion. (That would be you. The companion. Or maybe the companion is me. It’s all about perspective.)"
Want your own great things? Ready to have your body back? Visit Leela's website, BodyOfPleasure.com or connect with Leela on twitter or facebook.