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From The Publisher
Get Seen!
It’s the Future of Your Business!
H
ow are you being seen? On social media? Your blog posts? At live events? Are you clear and consistent in your message? Are you building your credibility factor?
I’ve traveled around the country this year speaking to groups of women (and a few men) about this topic. The days of sitting behind your computer and creating “friendships” are over. I may have almost 5000 friends on Facebook, but that means just about nothing in business unless I’m cultivating those relationships – on social media and off! We must be seen live and in person. The first thing to do is, research where your potential customers and clients, partners and collaborators are going! And then GO! Set the intention before you even walk out the door to connect with a minimum number of people. Have that follow up plan in place as well, know what your plan of action will be and what your follow up strategy is. I send an email (not add them to my email list, but a personal email) and reach out to connect further via phone, or even coffee if I think we have some synergy! Speaking – are you already speaking, or just thinking about it? Create that content packed signature talk with easy implementable tips based around your area of expertise. Get out and practice and build your confidence! Pick up the phone and reach out to event planners and speaker coordinators. Speaking is a great way to be seen as the credible expert! Do you have a book? Having a book, whether your own or a collaborative book, is again a great way to be seen as the expert you ARE! A chapter in a compilation book where you share your expertise and tips gives you added credibility and exposure, without the undertaking of writing, editing and marketing the whole book all on your own. Today’s Innovative Woman is excited to announce our Innovative Woman Publishing – with a few compilation books scheduled to premiere in 2014! Might you be interested? We’ve made it SUPER SIMPLE so that all you need to do is write your chapter. We do the rest! All the details can be found at www.InnovativeWomanPublishing.com. It’s the last quarter of 2013 – but that gives you plenty of time to implement the tips above. Make a commitment to get out and get seen!
To your SUCCESS!
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IN THIS ISSUE All About You
All About Business
20 Back to School
8 Top 5 Critical Mistakes Emerging Entrepreneurs Must Avoid
26 Will You Achieve Your Business Vision 28 Changing the Way You Do Things
10 The Worst Habit for Women and How to Break It
All About Success
12 Cash Flow: How Is It Different From Profit?
16 Caterina Rando, Thriving Entrepreneur
14 Using Speaking to Build a Thriving Business 18 3 Website Must Haves: How to Keep Potential Customers on Your Website 24 Want Better Profits? Attract Better Clients as a Specialist
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All About Business
Top 5 Critical Mistakes
Emerging Entrepreneurs Must Avoid
by Veronica Drake
I
’ve listed the top 5 mistakes that are between you and a consistently lucrative business; knowing these mistakes early on and how to avoid them can save you a lot of time, effort and money.
1. Not Defining an Authentic Niche This is the #1 step every entrepreneur MUST take: define and embrace your uniqueness. Without this in place, all of your efforts will be fruitless. Once you are clear on exactly what you do that sets you apart from the others you can begin to assemble a tribe, a following, and begin to transform lives and prosper. 2. Not Developing an Entrepreneurial Mindset Everything in our lives is a result of a thought, including success. Being an entrepreneur is all about connecting to the uniqueness inside of you, being open to the fact that you are an “out of the box” thinker and finding comfort in that mindset, even if those around you aren’t. 3. Neglecting to Develop Enrollment Conversation Skills Every success we enjoy in business (and in life) is based on relationships, and the skill of converting prospects to clients is no different. No one wants to be sold anything – EVER, and if you aren’t honing your enrollment conversations, you will come off as salesy and you will alienate prospects instantly. 4. Underestimating the Value of Copy The most important thing to remember when it comes to copy (the written word that represents your business) is that you are always speaking your target audience’s language, and you are focused on BENEFITS for them. WIIFM [what’s in it for me] - that’s what every prospect is looking for! 5. Not Investing in a Mentor I spent a long time struggling and building on a hit and miss philosophy. By hit and miss I mean I had no real direction, guidance or understanding of what NOT to do to be a financial success, and as result I was poor…poorer than poor!
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The old saying “you can’t solve a problem with the same mind that created it” is absolutely true! I was taking in new info, but processing it with the old processor UNTIL I invested in a mentor- someone who supported my vision and helped me see a different perspective. Saying you can’t afford a mentor is an excuse. I get it - I was BROKE - I said those very words for years, but the reality was, as soon as I gave up saying those words and hired someone who knew what they were doing, I got out of broke. It’s up to you to make the decision to INVEST! Veronica Drake is an internationally acclaimed intuitive business strategy consultant. She works with heart inspired women entrepreneurs who are fast paced and creative and are ready to let go of all the distractions holding them back. She specializes in helping them create clarity around their niche and their marketing message so that they can plan, produce and profit with ease. Visit her website at www.VeronicaDrake.co.
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All About Business
The Worst Habit For Women And How to Break It by Joy Chudacoff
I
n my work with women, one bad habit that I see creeping into their daily lives is procrastination. This one bad habit can create a struggle in your business and wreak havoc on your personal life too. Delaying decisions, avoiding phone calls and emails or resisting the completion of a project that could add more income to your business is deadly. Word travels fast when you delay on getting timely work done for clients, and over time it can possibly damage your reputation. Don’t let this happen to you. Today I’m going to share four easy to implement tips that work for me every time I feel the procrastination “mood” setting in. 1. First Things First - Choose to complete the most important, high priority items first. Struggling with what’s high priority? Look at your to-do list and choose the items that will propel your business forward the quickest. 2. Divide and Conquer - If you have a large project to complete for a client or even your own business, grab a piece of paper and divide the project into small bite size tasks. Delegate as much as possible to an assistant and create a timeline with deadline dates to complete each task until the project is finished. 3. Set a Timer - This has been a huge life-saver for many of my clients. Set a timer (most all smart phones have them now) for 20, 30 or 40 minutes and during that time, focus on one project or task. This is a time when phones, email and text messaging should be avoided. The
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key here is to stay present with the task or project. When you hear the timer sound, get up and stretch, take a break and grab a favorite beverage. 4. Grab a Partner - Having an accountability partner, coach or trusted friend to check-in with can be a big help. Knowing you will have to report to someone else about your progress will get you moving. Developing an accountability partner in addition to joining a mastermind group of like-minded women entrepreneurs will help keep you on-track and committed to your goal. Procrastination can creep into your life and business so quietly that you don’t realize it’s taking over. Use the four tips to make sure this habit doesn’t become part of your daily routine. Anything is possible. Everything is waiting for you. Joy Chudacoff is Heralded as “The Coach for Women” in the millennium, Joy Chudacoff has x-ray vision when it comes to helping women discover their Big Ideas, Dreams and Goals! Joy draws on both her personal life and entrepreneurial experiences to support women in achieving better ways of living. It’s her passion, her purpose and her business. She is a Professional Certified Coach, highly skilled group leader, motivational speaker and a gifted communicator. Visit Joy’s website, SmartWomenSolutions. com, where you’ll find more articles plus information about her Women’s Success Circles, Smart Women Smart Solutions Coach Certification Programs, Speaking engagements, teleclasses and upcoming events for women. Joy can be reached at 310-454-2005 or by email, Joy@ SmartWomenSolutions.com.
September/October 2013
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All About Business
Cash Flow: How is it Different From Profit? by Candy Messer
M
any entrepreneurs confuse cash flow and profit. A simple definition of cash flow is the movement of money into and out of a business. Profit is how much money is left after subtracting all expenses from the income generated from sales. These two terms are not interchangeable. Your business can look profitable, but not have cash in the bank. This could be due to several situations. 1. You bought equipment on credit in the past and are currently paying on the loan. Payments to reduce a liability do not reduce profit. However, the cash was spent reducing the money available to the business. 2. You drew money out of the business as payments to yourself. These are not expenses of the business, but rather a reduction of equity. Therefore, profit remains the same, but cash is reduced. 3. You file your tax returns on an accrual basis (income is counted when the client is invoiced whether payment has been received or not), but the clients haven’t yet paid.
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On a similar note, your business can be operating at a loss, but you could have money in the bank. This could be because: 1. You invested money into the business (increase in equity), but the sales aren’t high enough to offset incurred expenses resulting in a loss. 2. You received a loan for operating capital (liability), but expenses are still higher than income from sales. 3. You sold equipment (increasing cash on hand), but it wasn’t inventory sold to a customer to increase income.
September/October 2013
It’s important to watch both profit and cash flow to truly understand what is happening in your business. Review your reports often to see where adjustments need to be made to reduce expenses, increase income, and keep enough money in the bank to cover expected outflows.
Candy Messer: Candy Messer is President of Affordable Bookkeeping and Payroll Services and energizes business owners by removing the burden of the bookkeeping and payroll processing from their shoulders. With 15 years of experience, Candy understands the stresses business owners face and offers customized services to meet their varying needs, including bookkeeping, payroll, Quickbooks consulting, and bill pay services. Candy works with service based business owners who are overwhelmed with the paperwork required to stay in compliance for filings and frees them to focus on what they love to grow their businesses. Visit her website at www.abandp.com for more information.
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All About Business
Use Speaking to Build a Thriving Business by Caterina Rando, MA, MCC
A
t any event, it is better to be in the front of the room speaking than in the back of the room listening! Why? When you are the speaker, you open the door wide to making many new, wonderful contacts that can quickly lead to new clients and a thriving business. There is much to learn about using speaking to get clients, and here are three tips to get you started; make sure each speech serves your business and your audience. Be Interactive Prepare a handout that includes key points from your talk. Be sure to include your contact info on each page. You want to build in some audience participation activities, such as asking them to write down three action steps they can take in the next couple of days. Your handout is a take-away that reminds people of the value you brought to the program.
“Speech is power: speech is to persuade, to convert, to compel.” —Ralph Waldo Emerson, American essayist
Deliver Massive Value Speak clearly and with confidence. Remember, you are the expert on your topic. The audience is there to hear what you have to say and to learn something new and exciting. Be enthusiastic and create verbal pictures. Tell compelling stories the audience can relate to, and use examples from your business about how you solved problems and how they can, too.
“Make sure you have finished speaking before your audience has finished listening.” —Dorothy Sarnoff, America Entertainer and Image Consultant
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Take Your Off-line Connections On-line Anyone that I have met in person at a speech, I invite to be my friend on Facebook, I ask them to connect with me on Linkedin速, and I follow them on Twitter. Time permitting, I include a personal note. This has resulted in many opportunities and new clients over the last few years because, through on-line social networking, you continue the relationship started at the time of your presentation. Get busy. Pick your topic, find your audience and get yourself booked. By doing so consistently, you will surely ensure that you have a thriving, profitable and sustainable business and an endless flow of clients. Caterina Rando shows ambitious women how to be loud and proud about the value they bring in order to make their businesses thrive. She is a master certified coach, business strategist and creator of the Sought After Speaker Summit http://soughtafterspeaker. com and The Business Breakthrough Summit http://bizbreakthrough.com Check these sites for more business building ideas. You can reach Caterina at (415) 668-4535 or via email at info@caterinspeaks.com.
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All About Success
Caterina Rando
I
Thriving Entrepreneur
met Caterina Rando almost 5 years ago while attending an event in San Francisco. She stood out as an entrepreneur who knew where she was going and how she was going to get there. We connected immediately and it’s been so much fun to watch her business skyrocket! I recently asked her to share and I learned her full story! Caterina’s first business was an Italian café and catering business. She loved having a business, loved serving people, but just did not like being in food service. While trying to figure out what to do next, a woman came in and thanked her for the business advice she had given her—and that changed everything. She realized at that moment that helping women thrive in business is what she wanted to do with her life, and her company was born! Caterina faces challenges head on. “The truth is that, when you have your own business there are many challenges big and small, internal and external”, said Caterina. “A challenge I constantly came up against is one that I also think is a reason I enjoy success. I run my business for where I am going, not where I am. This means that there is a constant state of growth, a willingness to implement new structures, and to take on new projects or team members to get where we are going.” Caterina pointed out that this often means spending more and taking home less. “That is fine with me because as we get close to being a million dollar business, we have to do what it takes to make that stick.” How does Caterina define success? She has felt successful since the first time she sat down with a coaching client and they told her how much value
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they received. “Doing work you love and being compensated for it is success”, said Caterina. “I felt so good when I started! I was supporting myself with my own business, and then after a few years I decided I wanted to buy a house in California. That is when I started to focus on building revenue.” Today Caterina enjoys success not only because she loves her work, but because her work affords her the ability to focus on philanthropy and raising money for women and girls around the world with her giving circle called A Good Deed Tea, www.gooddeedtea.org. “I encourage helping others to be a part of everyone’s definition of success.” In looking back, Caterina wished she knew right from the beginning that it was okay to only serve women entrepreneurs. Caterina shared, “I did not want to claim my ideal client in the early years because I mistakenly did not want to miss out on other opportunities. Since I have gotten clear that women entrepreneurs in service businesses are my ideal clients and I serve them best, everything is easier and my clients are thriving even more.” Caterina is an innovative woman. She is a doer, an implementer – and that is probably why we connected from the very beginning! “I get an idea and run with it and manifest it and I do not even think about what people will think, or if it will fail. I feel that my business is my artist’s canvas, and I am certain that what I do will uplift women”, said Caterina. This results in new and exciting programs each year. She will soon launch the Thriving Entrepreneur Elite Mastermind Program; in 2014 she will host the Social Media Marketing Summit for Women Entrepreneurs, and she will also host her second Luxury Retreat for Women Entrepreneurs. All this is innovation in action. “I love convening women. This fulfills my spirit of innovation.” Caterina shared. This is also why I asked her to be a speaker at both our Dallas and Los Angeles events this year. She was amazing, shared tons of valuable content and really connected with the audience. Caterina is also a regular contributor to Today’s Innovative Woman magazine. Be sure to connect with her – or come meet her live in Los Angeles at SUCCESS Summit September 27th!
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All About Business
3 Website Must Haves: How to Keep Potential Customers on Your Website by Linda Cotter
D
oing business in the 21st century requires that you have an excellent website. You have worked hard to get people to your website, now it is important to keep them there and keep them interested! Here are three things your website must have. 1. Have High Quality Copy - The key to keeping potential customers on your website is to have high quality copy that is relevant to those who view your website. Make sure your copy answers these questions about your business. What does this audience want? What are they looking for? What are they willing to do? Be sure that the copy not only clearly expresses the vital information about the service or product that you provide, but that it is also optimized for search engines. If you are unsure about how to do this, or are not confident that you can write compelling copy, hire a professional copywriter.
2. Have Testimonials From Your Clients - Show your visitors the people you have helped and what those people think of the products or services you provide. Having testimonials from real people about real experiences adds credibility. But remember, reading a wall of text can become very dull. Introduce different types of media to break up the monotony. Show images of the people who gave you the testimonials and consider video testimonials as well. This facet of your website is an important one, so be sure people see it. Each time you send a proposal to a prospective client, include a link to your testimonial page with it.
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3. Have a Call to Action - It’s important to have your visitors interact with your site as much as possible. Be sure to have a call to action on every page. A call to action indicates to your visitors that they should take some sort of action, even if it is something small, like clicking on a link, sending an email or picking up the phone. Make sure that the messages your website displays are clear as to what you would like your visitors to do next. Address these three must haves in your website, and you will meet with success! Linda Cotter is a graphic artist and fine art photographer. Her goal is to help her clients produce better results through great design. Whether it is a logo, business card or website, she incorporates each client’s unique personality and style into the design with an eye-catching flair. This creates the opportunity for them to attract the desired clients and results they are looking for. Visit Linda’s website at www.LindaCotterDesigns.com. She can be reached at (310) 486-3108 or by email at Linda@LindaCotterDesigns.com.
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All About You
Back to School
by Debbie Saviano
T
he month of September signals that children across the country are back in school. Do you remember your kindergarten teacher, buying school supplies, packing a lunch for school, being excited about seeing friends after a long summer?
The one thing about school is, everyone has attended and has personal experiences. With the arrival of September, memories are triggered. The beginning of school brings forth an array of emotions for parents, children and of course the school staff. After a summer filled with activities – recreation – travel – sleeping late, it is once again time to head back to the schoolhouse. Everyone has memories of school. The first teacher, school chums, an anticipated class, and of course rituals and routines. Nothing gets us all back into a routine faster than the beginning of school.
1. New School Supplies 2. Class Schedules 3. Seeing Old Friends and Making New Ones Whether you are a parent with children heading back to school, or someone who is reminded by the flashing “school zone” lights, take advantage of the Back to School mentality and embrace the rituals as a business owner. 1. Supplies - Do you enjoy a trip to the local office supply store? Does the very thought of buying new supplies seem exciting? Having the correct supplies and being prepared is crucial. Take a few moments and see what is new on the market. There are some super cool and decorative “flash drives”. 2. Class Schedules - One of the most common frustrations is not having enough time in the day. Do you have a wall calendar? A visual of what is to be done today – next week – next month? If not, plan now and buy a 2014 calendar.
Returning to school is a rite of passage, a custom which is mirrored in business. Can you relate to the first day of school?
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3. Friendships - Enough said, right? It all comes down to the relationships with clients, colleagues, collaborative partners, family and friends. It is important to always be searching for new clients, but don’t forget to maintain a personal connection to those who support you. Reach out and “say thanks” to current clients. Welcome back to school! Debbie Saviano is a solopreneur whose daily mantra is to “help professionals take action and create an online presence by developing, nurturing and maintaining relationships.” Debbie utilizes social media to connect, network and engage with others. She is an advocate for “continuing the conversations”. Thanks to the internet highway, borders are no more; people can interact and communicate around the globe. Professionals from across the country call Debbie for her unique skill set in designing LinkedIn profiles & Pinterest platforms aimed at engagement and retention toward a target market. Debbie also provides business solutions to small businesses who seek to utilize social media to enhance their brand, improve skills of their employees, expand social proof and establish an online presence.
"10 times what I had earned previously!" Before working with Melissa, I had been a successful Broadway, film and TV actor, a literary manager, and producer, but 4 years of under-charging and over-promising had produced a workload for me that was simply unsustainable. I hired Melissa to help me re-organize, get back time for life and family, and GET PAID what I was worth! Within a few short weeks we'd transformed my business. Melissa helped me (with a) single shift that netted me $14K in 3 weeks - 10 times what I had earned for the same work previously! -Randy Becker is Founder, CEO, NexTV Entertainment
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All About Business
Want Better Profits?
Attract Better Clients as a Specialist by Jennifer Bourn
T
o create the most profitable business, you first need the best possible clients – your ideal clients. The clients that are a joy to work with, who value your expertise and skill, who pay you what you’re worth, and respect your time. The problem is that many business owners are reluctant to define an ideal client. They are scared to niche their business and target their marketing to one specific client profile, so they try to serve everyone. Unfortunately, serving everyone is exhausting, frustrating, and draining because you simply can’t be everything for everyone. Not everyone will resonate with your message or be a perfect fit for what you offer, who you are, and how you work. Plus, there is an even bigger problem you will face as a generalist! For each ideal client you have that is a dream to work with, you will also have a couple not-so-ideal clients who dominate your time, drain your energy, second guess your expertise, and complain about your fees – and what’s worse is that they are usually your lowest paying clients! Yet, business owners keep these clients. They stay a generalist, marketing to everyone, and trying to serve everyone, because they are afraid that they may not be able to replace what little income those bad clients provided. The key to better profits, better clients, and a better brand is to be a specialist! While generalists scrape the bottom of the barrel, specialists make the big bucks. Specialists work with fewer, better clients at higher rates, and they have more time off to enjoy it all.
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Consumers want to work with specialists. They want to know they are working with an expert they can trust, who can guide them, and they are willing to pay for their expertise. As a specialist, you are building your brand around the one thing you want to be known for – the one thing you are specializing in. As a result: • Your marketing message is clear • You stand out and are recognized • You enjoy more referrals and recommendations So, don’t be afraid to be a specialist and differentiate yourself! Narrow your scope of services to your core strengths and define your ideal clients: the perfect clients you love to work with and can help the most. By doing so, you’ll be able to work with fewer, better clients, have a more profitable business, and have more fun! Jennifer Bourn is the brand strategist, WordPress website designer, and graphic designer behind the award-winning branding and web design firm Bourn Creative, LLC near Sacramento, California. Bourn Creative helps successful entrepreneurs who are frustrated with their brand and website transform their marketing materials and their business into an extraordinary and lucrative brand through a combination of speaking, consulting, and done-for-you services. Learn more at www.bourncreative.com.
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All About You
Will You Achieve Your Business Vision or
Rationalize Your Current Situation? by Debbie Delgado
I
’ve been witnessing a disturbing trend among entrepreneurs and “wantrepreneurs” over the last few weeks! And it breaks my heart. I talk to people every day who have incredible life and business visions; talented people who want to share their gifts with the world. The fact is, with the right support and action, they can create exactly what they want. But, they are afraid. They’re afraid to be what most people are not willing to be right now – bold, courageous, and someone who takes forward action, even when they are afraid. There is an opportunity or solution right in front of them that will help them get what they want, but they are fearful, and they listen to the words and advice of other fearful people in their life, instead of the voices of those who already have what they want, and can show them how to get it. In order to feel okay about saying “no” to themselves and their brilliant vision, they start to rationalize the results they are currently experiencing. Is this you? Do you find yourself thinking or saying things like this? • • •
I should just be happy with what I already have. Things really aren’t that bad. These are really tough times, and I’m lucky I’m doing as well as I am.
Guess what? Your fear has just found a way to stop you from creating the results you really want, because these thoughts excuse you from taking the actions you need to take. Your fear has come disguised in a form that seems completely rational to you, and you’ll easily find others who will agree with your rationalized lies. If you want to play big in your business and your life, you have to be honest
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with yourself about what you truly want. And you have to say “yes” to the opportunities and resources that are showing up to help you create it, whether that means stepping into bigger opportunities, raising your fees, or investing in yourself and your business. Even though it feels like a risk. And that, my friend, is the difference between those who will achieve their visions, and those who will not. Say “yes,” take the first step, and you are on your way!
Debbie Delgado of DebbieDelgado.com helps female entrepreneurs transform their worry and frustration about their businesses into Money and Meaning! She helps women re-ignite their passion for their businesses and make more money so they can focus on serving the planet instead of worrying about their bills! Debbie has helped hundreds of women just like you step into control of their own lives and business so they never have to be at the mercy of what’s going on in the outside world again. Learn more at DebbieDelgado.com.
Are you frustrated with feeling like you are working so much but still broke and things are just not getting done? Do you have the correct business foundations set up in your business so that it can run and grow without you? Does it feel like your team just can’t get anything everything in place in time? Are you leveraging your current systems for your continued growth? Or are you like the many business owners I talk to that are throwing money at the wall, just trying to earn a buck?
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All About You
Changing
The Way You Do Things
by Bibi Goldstein
T
hey say it takes about 2 weeks to make or break a habit. They say it is tougher to change our habits as we get older. They say we pick up bad habits much more easily than good ones. Well, I say they are wrong. I believe we can change anything we WANT and are READY to change. The problem is, while we may say we want to change these habits, we aren’t always ready to. When we find that sweet spot where those two things are in sync, that is when we can effectively make long lasting changes to our behaviors. The bad news is that syncing “want” and “ready” doesn’t happen all that often for many of us. The good news is, there are some easy ways I have found to trick myself into that sweet spot: • Attending events or conferences gives us opportunities to hear methods of doing or being what we desire, especially those that have inspirational, motivational and practical topics for life and business.
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Being in a constant mode of learning from every interaction has given me a new perspective on the speakers, as well as the other attendees. • When there is a specific habit you want to have, use the rule that you are the sum of the five people you spend the most time with. Find 5 people who have this habit, and spend more time with them. This has been instrumental in my business success. • Research and study. This can be done when trying to rid yourself of a habit or implement a new one. Learn everything there is on the topic, whether it is about eliminating sugar in your diet, or adding meditation to your daily routine, or being better at following up.
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The more heightened awareness you can create, the easier it will become to absorb the philosophies surrounding those behaviors. A combination of these techniques have been instrumental in fostering change within myself and those of my clients who want to create change in themselves and those around them.
1/4 Page Radio
I remind myself often of the definition of insanity as we have come to understand it in business: “Doing the same thing over and over again and expecting a different result”. Start changing the way you do things today, and get a different result.
Revolutionize Your Speaking Business Bibi started Buying Time with a friend to give everyone the opportunity to have access to support and assistance with any task. With over 22 years in the transportation/logistics industry Bibi has specific experience in space and time efficiencies through Six Sigma training for warehouses from 1,000 to 30,000+ square feet. This provided her the ability to visualize the final outcome even when the client cannot. Bibi recently co-authored “Get Organized Today” with other organizing experts hoping to reach out and help more people. Bibi can be reached at www.buyingtimellc.com.
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TAKE ACTION AND CREATE YOUR ON LINE PRESENCE THROUGH SOCIAL MEDIA INFLUENCE
Today’s Innovative Woman P.O. Box 3893, Palos Verdes, CA 90275