Category: Entrepreneurs

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Entrepreneurs

Stuck In The “Entrepreneurial Lows?” 3 Truths to Help You Navigate Through It

We all talk about the entrepreneurial journey — how when you embark, the highs will be some of the best highs of your life … but there will be some lows too.

 

The reality is that just as the highs you can reach running your own biz are some of the highest you’ll experience, very few things may beat how low the lows can go.

 

And when you hit rock bottom, you can REALLY hit rock bottom. Because the truth of the matter is you can’t have the highs without the lows. They’re a part of the journey and they also make the highs soooo much more sweeter.

 

So I’m not writing this because I want to scare you away from the lows — on the contrary. The lows have made me who I am today (and I wouldn’t trade that). Why I’m writing this is to give you some support and love if you are going through a low right now.

 

I think the worst part of the lows in the entrepreneurial journey (which is why I think the lows are that much lower) is how alone you feel. You own your own business — who are you going to lean on in your life who “gets” it? And who do you have who can help you through it who has “been there, done that and got the tee shirt to prove it?”

 

So that’s why I want to share these truths you can hang on to as you navigate the sometimes choppy waters of entrepreneurship.

 

1. You’re not alone. I know I just said this but it’s worth repeating. When you’re in the middle of muddling through a low, you may feel like you’re all alone — but you’re not. Everyone who has run a business has been there. It’s just part of the path of being an entrepreneur.

 

2. It won’t last. No matter how bad things look and feel right now, know this is only a part of the journey. Things WILL turn around. And the reality is, the more you feel like you’ve hit rock bottom, the faster you’ll experience the turnaround.

 

Now this doesn’t mean you shouldn’t be taking action to change it. Not at all — instead I just want you to really feel this isn’t your “new” reality (no matter how much it may feel like it is) and instead know deep down that
it’s just a part of the journey.

 

3. Only what challenges you changes you. I actually saw this at my local YMCA. They of course were referring to actually doing a tough workout (versus showing up and going through the motions and calling it a workout) but this actually is applicable to all sorts of things in life. If it’s NOT challenging you, then it’s probably not changing you. So if you are in a challenging spot, know that if you’re open and you let it, it could actually be the catalyst that transforms you.

 

Now if you are stuck in the lows, you may be thinking to yourself “Well Michele, this is all well and good, but I don’t want to be here anymore. How do I get myself out?”

 

I’m so glad you asked! If this IS you, then here’s something you can do to get yourself back on track – out of the lows and heading into the highs:

 

Don’t do what you’ve always done.

 

I’m serious. We’ve all been in lows before and you probably have something you do to cope (maybe it’s a bad habit — like drinking an extra glass of wine or collapsing in front of the television — or maybe it’s something you don’t think is bad, like overworking). I’d like to suggest maybe you DON’T do what you always do, and instead do something different. (And if you’re not sure what that would look like, you could try doing the exact opposite from what you normally would do.)

 

Regardless of what you choose, just keep breathing. You’re not alone and it WILL pass.

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Entrepreneurs

Cinnamon Rolls, Breast Cancer and Your Business — How Doing Good Can Grow Your Business

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It can make good marketing sense to partner with a nonprofit or cause.

Consider what my marathon friends did when they were raising money to participate in the 3-Day Walk (you walk 60 miles in 3 days to promote breast cancer awareness and raise money for research). They approached a local restaurant called Backburner, which was famous for their cinnamon rolls. For a week, every time someone bought a cinnamon roll, they donated $1 to my friends for their walk.

I personally hadn’t heard of the restaurant, but when I found this out, my husband and I went and had breakfast there (complete with a cinnamon roll of course!).

So this turned into a win-win for everyone. My friends won because they were able to get donations for their walk. Susan G Komen won because they got more money to donate to research. The restaurant won because they got additional promotion and good will, helping out a good cause. And I won because I got to eat a yummy breakfast and discover a new restaurant. (We’re ignoring the calories I consumed there.)

More than ever before, consumers are socially-minded. In many cases, they want to know the businesses they patronize are also socially- minded. Connecting your business to a good cause is about more than just making yourself “feel good”; it can also make good business sense. 

So what are some ways to start? (Other than writing a check.) Well, here are a few ideas you can use:

1. Jenn August did a whole telesummit around giving money to various causes. You could do the same.

2. If a summit is too much work, just do one teleclass, charge a low fee, and let people know proceeds will also help support your cause.

3. Have a sale and let people know a percentage of proceeds are going to support a nonprofit.

4. Offer to give a product of yours for free if people donate. Or, put together a special teleclass only for people who donate. (I would put a time frame around this if you do – for instance, allow 48 hours or a few days to donate.)

5. Put links to your favorite nonprofits in your newsletter or on your website. (But don’t make it so prominent you encourage people to click away from your site and not support YOU.)

6. Give away your time. If you’re a service professional and you find your client pipeline has slowed down or dried up, donating your time to a nonprofit can be a good way to jump-start your business. The exposure can help you find new clients, and you can make it known you support their cause. (And don’t forget to get a testimonial.) Now, be careful with this strategy. I’ve used it myself, but make sure you don’t go too crazy donating your time or you could end up getting really stressed- out when you client work picks up again.

But whatever you do, make sure this is coming from the heart. People can sense if you’re not being sincere, so make sure you truly do believe in the cause, if you’re going to publically help support it.

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Entrepreneurs

3 Signs Your Website Has Been Attacked by Monsters!

Yes Virginia, there are monsters.

 

As I’m sure you’re intimately aware (probably more aware than you’d like to be) things go wrong in businesses.

 

Lots of things. Lots of times.

 

(And sometimes it even feels like all the things all of the time.)

 

Now if you’ve experienced something going wrong in your biz, you may have reached out for a solution or an answer to what’s going on. And depending on who you asked, you probably heard anything from “You have mindset blocks getting in your way” to “You simply don’t know a certain strategy or tactic.”

 

And I’m here to tell you it’s NONE of those things. If something is going wrong in your biz, it may very well mean there is a monster lurking about — haunting your biz, sabotaging your success, and just plain wreaking havoc.

 

Worse, there are lots and lots of different monsters that attack all sorts of different areas in your biz. And they can strike any time, any place. And since no one is talking about these sneaky, slimy, creepy creatures, they are allowed to grow and fester unchecked, attacking unsuspecting entrepreneurs at will.

 

But there is hope! You see, I am Michele PW Monster Hunter (yes you may know of me as Michele PW, Your $Ka-Ching!$ Marketing Strategist, but today I am Michele PW Monster Hunter).

 

And today I want to shine a light on these dastardly fellows so you can start to recognize when you are under attack from monsters, and then take the proper steps to banish them for good.

 

The monster I want to talk about today is called the Website Killer. He’s a bit shy, so he’s pretty hard to spot, but here are 3 signs that you are being haunted by the Website Killer:

 

1. You are embarrassed by your website. This may manifest itself as not wanting to give out your website URL, or if you do, you find yourself giving all sorts of qualifiers like “Oh I need to redo it,” or “I have one of those ‘bad’ websites,” or “It’s old and I just haven’t had time to work on it.”

 

You may also find you’re putting off launching a product or program, or approaching potential joint venture or affiliate partners, or lining up teleclasses or doing other visibility strategies like getting yourself out there on Facebook, or posting videos – because you don’t want ANYONE to see your website. And the fact that your other marketing strategies have ground to a halt niggles you constantly — you KNOW you’re losing valuable money-making and promotional opportunities, yet you just can’t bring yourself to give out your website URL because the idea that your ideal clients are looking at it makes you break out into a cold sweat.

 

(And the reason this is happening is because the Website Killer gives off a foul stench. So when he’s hiding in the shadows of your site, even though you can’t see him, you can certainly sense his presence and you end up feeling all sorts of website shame.)

 

2. You’ve moved beyond website shame into website hatred. You can’t stand your site. Every time you think about it, you can feel your insides clench up. Argh! Worse, maybe you have even spent a ton of money on your site and it makes you sick, because you know you need to spend MORE time or money to fix it. (You may even have a few Website Killer monsters haunting your site — they do travel in packs and the more you have hiding in your site, the worse you feel about it.)

 

3. Your website isn’t doing anything for you. No leads, no customers, no sales — no nothing. Worse, you’re not even sure what you’re doing wrong. (What you don’t realize is that Website Killer monster hiding in the shadows is scaring away all your ideal prospects!)

 

So if any of these signs feel familiar, there is hope. The first step to banishing him for good is being aware he exists, and figuring out if he’s haunting your site. So take a good look at 1-3 above, and decide if your URL needs an exorcism!

 

 

 

 

 

 

 

 

 

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Entrepreneurs

3 Ways Being Creative Can Hurt You In Biz

Yes you read the title right. This is all about how being creative can hurt you in biz.

 

We all know being creative is definitely an asset when you’re an entrepreneur. But…

 

Your greatest strengths are also your greatest weaknesses. And being TOO creative can actually keep you from building the biz of your dreams. So let’s dig into how creativity can actually hurt you in biz.

 

1. You love starting new things — but finishing? Not so much. There’s nothing like the rush of a new idea or a new brainstorm, is there? It’s soooo much fun to live on the Island of Possibilities and Dreams.

 

Which is why the Land of What Your Biz Is In Real Life feels so, well, blah.

 

Ideas that live on the Island Of Dreams are fun. Coaxing those ideas off of their fun island (where they’re hanging out at the beach during the day and partying every night) and talking them into becoming permanent citizens of the Land of Reality where they are now earning their keep and making money for you can be not-so-fun.

 

Those ideas aren’t necessarily all that thrilled about leaving their carefree lifestyle. So it takes time. And work. And sometimes that work is difficult and unpleasant.

 

(And that doesn’t even cover the “what if the idea isn’t all that hot once it’s real” fear that can also take over as you get close to finishing a new project.)

 

So being super creative can also mean lots of unfinished projects that are still half on the Island of Dreams, which means they’re hanging out having a blast rather than making any money for you.

 

2. You want to love the projects you’re working on. Yes we all want to love what we’re working on, but the truth of the matter is no matter how much you love an idea, there will be times where you just want to ship the smelly thing back to the Island of Dreams to stay.

 

If you’re too creative, you may decide it’s easier to just fall in love with a different idea on the Island of Dreams and, well, that means another unfinished project on your to-do list that isn’t making you any money.

 

But if you want to be a successful entrepreneur you must resist that urge. Only ideas that are firmly in the Land of Reality will have any hope of making you any money so even if you aren’t feeling the love, work through it.

 

3. Ideas aren’t the only thing you fall in and out of love with — your biz brand is also a constant moving target. This is the one that’s really tough to overcome. If you find yourself changing your brand every year, then it’s going to be really difficult to build traction in the marketplace.

 

Now while I am a big believer in just getting something out and letting the marketplace give you feedback (and yes I have gone through a few brands myself over the years) if you are constantly just not happy with your biz brand, then you are definitely letting your creativity rule your biz.

 

There is a time and place to rebrand — but it’s NOT because you’re tired or bored with your brand (especially if it wasn’t that long ago you rebranded because you were…well tired and bored with your brand). If you rebrand too much you’re just asking for your ideal clients to be confused, and that’s very often the first step to biz failure.

 

So, you’ve probably sensed a theme here. And that theme is — if you know you’re creative, and you find yourself making decisions on your biz, your brand, your products, your programs, your marketing, etc. based on if something is fun or gives you that rush, and you find yourself NOT working on something because it’s starting to feel like work (and you’d rather go back to the rush) then you’re probably allowing your creativity to dictate your biz rather than enhance your biz. And that’s a recipe for a not-so-successful biz.

 

 

 

 

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Entrepreneurs

How Entrepreneurs Can Support Important Causes in Developing Markets by Joelle Wyser-Pratte

How Entrepreneurs Can Support Important Causes in Developing Markets by Joelle Wyser-Pratte

In today’s globalized world, entrepreneurs and companies are taking their businesses international – hence the causes and contributions made by business have to go international as well, according to education activist Joelle Wyser-Pratte. Enterprises can no longer remain competitive by remaining open for business in their home markets. Highly successful businesses are now found operating in many markets around the world, including in developing nations.

Despite the many success stories, it is important for businesses to not neglect the importance of creating a lasting social impact on the societies of the developing markets they derive their revenues from. As an entrepreneur, what are the causes you can help support in developing countries in the world? Here are some tips by Joelle Wyser-Pratte, co-founder of Ounavarra Capital LLC which helps select alternative managers grow their businesses and investor bases. JoelleWyser-Pratte is also the co-founder of The Ounavarra Foundation, a non-profit charitable foundation dedicated to supporting educational causes throughout the world.

Education for Developing Nations – Ideas from Joelle Wyser-Pratte

According to Joelle Wyser-Pratte, approximately one-quarter of girls (roughly 100 million of them) in developing countries are not in school. That represents more than 70 percent of the total children out of school in developing countries.

Education for developing countries is an important cause for entrepreneurs to support due to the long-lasting sustainable impact. In a study, The World Bank found that if all the girls in Kenya completed secondary school, they would add 27 billion to Kenyan GDP over the lifetime. Moreover, over the entire 14-country group studied by the World Bank’s researchers, adding one level to the average girls’ education would raise the group GDP by 1.5 percent per year (in addition to the aforementioned countries, the World Bank looked at China, Burundi, Uganda, Brazil, Malawi, Paraguay, Senegal, South Africa and Tanzania).

Rather than simply writing checks or donating food to good causes, companies should aim to become a force for positive change while enhancing their customer appeal and long-term competitiveness. Entrepreneurs should have reconceive their products or devote resources to address social issues such as education. This approach is highly favoured by education activists including Joelle Wyser-Pratte.

The Value of Making Societal Contribution for Companies

Indeed, the highest level of relevance is achieved by generating shared value. It’s based on the growing belief that generating a profit and achieving social progress are not mutually exclusive goals.

A convergence of trends, including greater exposure to the needs of customers in emerging markets, shortages in natural resources, and increasing pressure to cut costs, have led progressive companies to seriously consider devoting their energies in a manner that create value for themselves and others. This is a sustainable approached advocated by Joelle Wyser-Pratteand other philanthropists.

About Joelle Wyser-Pratte

Joelle Wyser-Pratteis the co-founder of The Ounavarra Foundation, a non-profit charitable foundation dedicated to supporting educational causes throughout the world. Wyser-Pratte also co-found Ounavarra Capital LLC to help other select alternative managers grow their businesses and investor bases. Prior to the securities business, Joelle began her career in journalism with International Media Partners and NBC Television in Florida. Joelle graduated from Tufts University, and holds Series 7 and 63 registrations with FINRA.