Translate that into, “I’m not prepared to follow up and take an active interest in the people who are potentially interested in working with me. My ego is so big that I expect customers will rain from the sky and I’ll never have to put any effort into selling and my life will be perfect.”
I hate to be the one to tell you, but this is not how you build a business.
Even though you believe that you’ve got an open mind, is there an itty-bitty voice in your head that whispers, “What? No! THAT won’t work!” when being offered a suggestion or a different way of doing things?
She asked me, “How do you stop commingling your money and start operating your business the right way?”
I did a Shop Talk on one of the biggest mistakes that you can make in your business. It was all about commingling your money – that’s when you start a business and you mix your personal and business finances.
Not long after that post, I received an email from someone who said to me:
“I really, really liked your Shop Talk video blog on commingling your money. My question is, if you are someone who is doing that, what is the first step to fix it? How do you stop co-mingling your money and start operating your business the right way?”
One of the biggest objections people have when it comes to social media is that it takes way too much time. Although this can be a valid objection, there are usually underlying reasons as to why social media becomes time consuming for users.
Here are some of the reasons why social media may be eating up all of your time:
• You don’t really know how to use the different sites and because you don’t know how to use them, it takes you longer to figure out what to do.
• You don’t really have a plan and because you don’t have a plan you are always on the spot looking for the right thing to say and when that isn’t easy to do you get sucked in.
• You consume everyone else’s content and posts, you click on links, look at pictures and watch videos… because you are not clear on what you are there to do.
She invested $10,000 in a group-coaching program and has not received what she expected in terms of how to build her business. The contract she signed is iron clad and she has no choice but to pay for the program in full, regardless of how she feels.
Another woman invested $3,000 and she is embarrassed to ask for her money back, even though the coaching program is stressing her to the max. The coach has given her a massive list of things that must be done with no clear direction on what the strategy is, leaving this woman feeling overwhelmed and with a bad case of buyers remorse.
It is your responsibility to do your due diligence when hiring a coach.
You may be thinking this article might not apply to you but the truth is, selling your business or having it go belly up is a reality for many business owners.
Why is it that some people are successful in selling their businesses while others just close up shop and walk away leaving their equity and goodwill on the table?
When you start a business, usually the last thing you think about is an exit strategy. You think you are in it for the long run and sometimes you have huge visions of growth.
But the truth is, you work really hard to build your business and when the time comes to move on, if you have something of value, you should be able to pass it on to someone else and pocket some cash at the same time.
When I started The Organic Basket Company back in 2001, it was a home based business. I aspired to be able to grow this business into a coffee shop model, to maybe franchise and have stores all over the place and to retail gift baskets in many locations.
Then the grind settled in and although the business was generating about $30,000.00 a year (with me only working one weekend a month), after a while, the work became boring and did not challenge me intellectually.
I tried to bring someone else in to help me with the business but my profit margins were not really big enough for me to pay someone to do the work and keep some money for myself.
Then in 2006, I opened Parlez Wireless, an Authorized TELUS Dealership. The basket business continued to exist but my focus was completely moved to the new endeavour.
Over the next year, the basket business pretty much dried up and I sold it for a very small amount of money, basically enough to cover the cost of the products I had on hand.
In 2012, I sold Parlez Wireless. This time things were different.
The most important lesson from The Organic Basket Company was this:
When you lose your interest in your business, your sales will go down and your profit will deteriorate
The moment you feel you are not as jazzed with your business, start to think about whether or not you should consider an exit
Always exit at the top of the game, not after your sales have slid to the bottom
Two years before Parlez Wireless sold, I had begun my consulting business. This time, there was a team who could operate the business without me and the business did not decline the way the basket business did.
Inside though, I knew this was not what I aspired to do long term so I started making plans to exit. The difference this time was I sold my on hand inventory and walked away with actual money for the equity I had built in the business.
In addition, the business had solid operating systems, sales tracking, cash-flow tools etc, all the things you learn in The Pilot Project. It was a profitable business ready to go without a new owner having to put a lot of time and money into it. This made it more appealing to buyers and allowed me to sell it at a price I was comfortable with.
Just because you may not feel the interest anymore does not mean that someone else wouldn’t be thrilled to continue to build up momentum from where you left off. Build something really great and sell it when the value is still there.
Check out this Shop Talk Video on When to Pull the Chute and Sell Your Business for more tips and share in the comments – Have you ever sold a business?
The Internet has made it easy for anyone to hang a shingle, open for business, and begin selling products and services. Your barrier to entry is much easier and affordable than opening a traditional bricks and mortar business and, because of this, there are WAY more people starting businesses than ever before.
This means that your ability to be unique and clear in your why is more important then ever if you really want to stand out.
When I first started my consulting business and decided to help people with Social Media, I knew I couldn’t be the same as everyone else if I wanted my business to thrive.
There had to be a way to be uniquely different and positioned from the competition.
When you are trying to be unique and different you can’t do business the exact same way as everyone else or you won’t stand out. You will be the same, just like them, and that doesn’t give your customer a compelling reason to choose you.
What makes you different is what sells.
Stop trying to be the same as other successful people and start looking at it this way: What is that thing that makes you different from the rest?
Let’s look at my business as an example for you to follow:
Social Media Experts are a dime a dozen so why even bother, right?
Anyone can say they are an expert. I see people with 300 Twitter followers boasting they are the “best” at Social Media.
So what set me apart?
When I started teaching Social Media to business owners it wasn’t just about Social Media. That’s what made me different.
I am NOT an expert at Social Media. I don’t know EVERYTHING when it comes to Social Media but I do know this:
I have incredible retail subject matter expertise when it comes to building a business, measuring what matters, attracting customers, and closing sales.
I also understand how people use their mobile device and how to leverage that device addiction so that you can stay connected to your customer and prospect.
I innately understand how Social Media bridges it all together creating as secret sauce for success in business.
And, I know that teaching you how to install a fancy app on your Facebook page is NOT the key to helping you create sustainable success in your business. But, teaching you how to build relationships and get clarity and confidence in what you do can.
This video talks about why I got started, how to create your own category and really stand out.
You can do this too whether you’re in start up or already have a successful business.
Start by asking yourself these three questions:
1. What am I really good at?
2. How am I different from my competition?
3. Why do your customers love doing business with you?
If you understand these three questions, you are on your way to creating your own category and standing out amongst the competition.
Share your answer to one of these questions in the comments below!
One of the top obstacles for entrepreneurs is trying to figure out how to market their business online and share on Social Media.
If you are stuck in this rut where you feel like you’re saying the same thing over and over again and no one is really listening, you need to know that it can be easier.
Content is key — it is the reason why people want to visit your website and pay attention to what you do. They are seeking out your expertise and want information that can help them.
Your expertise and knowledge can make a huge difference for someone else when you share and can assist with building a strong and connected platform for your business via Social Media.
In this video I share some of my best kept secrets for taking content creation from overwhelm to systematized.
So, check out these secrets then let me know – What is the one thing you are going to do today to make content creation easier for your business? Share in the comments!
Allyson Byrd is also known as the “Profit Accelerator™ and she is celebrated as one of the world’s most trusted leadership advisors and sales experts for entrepreneurs and small business owners.
She exists to create inspiring moments that shock, awe, surprise and delight herself and others. This comes as naturally to her as breathing. She has used this gift to help 10,000+ students in 47+ collectively create over $330 million in sales! Her journey is incredible. But she hasn’t always lived life awake. It took her years to embrace the unexpected, and step fully into her power.
She worked for McDonalds as a highschool dropout. Yes, you read that right. After the first few weeks they placed her on a fast-track to management because they saw something in her…something she hadn’t yet accepted about herself.
We are all one shift in perception away from a mega miracle!
Your next-level shift will require you to see your reality with new eyes, just like hers did. It will require you to accept your past with love, and embrace new possibilities in your future.
You’ll be able to hear more of Allyson’s journey to success from an underprivileged life on food stamps, a dad in prison and single mom raising two kids to the ultra-passionate successful leader she is today and the undeniable stand she has for women rising into their greatness in her latest collaboration with Amazon Prime TV.
Allyson’s press features include CNN, USA Today, NPR, Time Money, Forbes, Yahoo Finance, Business Insider, CNBC, MSN, Black Enterprise, Essence and Entrepreneur.com.
Sara Yagoub
Sara Yagoub, The Intentional Entrepreneur, is a mother, wife, businesswoman, referral marketing expert, speaker, author, investor, founder of ‘The Referral Circle’, and Host of Renegade Radio Revolution™.
A former overworked corporate-yes-girl, Sara escaped the 9-to-5 grind using what she learned to build her own successful multi-million-dollar business empire. Through digital programs, workshops and speaking events, Sara empowers high-achieving female entrepreneurs to shift their mindset, up-level their consciousness, tap into intuition & live w/purpose.
She has been featured in Voyage Magazine, Glambition Radio, FDISM, Morning Laziness, and served as a keynote for many organizations and masterminds.
Ali Brown
Ali Brown is one of the world’s most recognized entrepreneur coaches. Ali Brown is the world’s most recognized coach for women entrepreneurs, host of the acclaimed Glambition® Radio podcast, and founder of The Trust — the new, private, premier network for 7- and 8-figure women leaders.
Ali’s coaching and consulting enterprise has ranked within the Inc. 500 list of fastest growing private companies in the nation. She has been named one of Forbes’ Women to Watch, is one of EY’s Winning Women Entrepreneurs, and was featured on the ABC hit primetime show Secret Millionaire.
In addition to leading The Trust network, Ali specializes helping female leaders who are making or on track for 7-8 figures strategize and realize their next level of leadership and revenues. Her coaching and mentorship have been featured on CNN on many other media outlets.
Ali and her family are based in Scottsdale, Arizona and travel often with their 8-year-old boy-girl twins.
SAMPLE INTERVIEW TOPICS:
The radically different mindset shifts it requires to break-through into 7-8 figures and beyond.
The big problem with how women network and with the existing business communities out there
How to stand out within the online mess and position yourself as a ‘category of one.’
Business trends for the 2020s to be aware of and critical pitfalls to avoid.
Why formulas are good for building your business, but they can BLOCK you from unlocking your personal genius.
SAMPLE QUESTIONS:
What was your background before becoming an entrepreneur, and then how did you become an entrepreneur coach and mentor?
You’ve shared that your experience on ABC’s Secret Millionaire was a turning point for you. How did that change the trajectory of your business… and life?
I hear you often give clients the opposite advice of many other business coaches. Can you tell us more about that?
What are some of the winning strategies your multiple 7-figure and 8-figure clients are currently implementing that we can learn from?
You use a term called ‘excellence burnout.’ Can you explain what that is, and how can we watch for signs?
Has having a family changed how you work and how you lead? And if so, in what ways?
Legacy and leadership.
Alan Weiss
Alan Weiss is one of those rare people who can say he is a consultant, speaker, and author and mean it.
His consulting firm, Summit Consulting Group, Inc., has attracted clients such as Merck, Hewlett-Packard, GE, Mercedes-Benz, State Street Corporation, Times Mirror Group, The Federal Reserve, The New York Times Corporation, Toyota, and over 500 other leading organizations. He has served on several boards of directors in various capacities.
His prolific publishing includes over 500 articles and 60 books, including his best-seller, Million Dollar Consulting (from McGraw-Hill) now in its 30th year and sixth edition. His newest is Your Legacy is Now: Life is not about a search for meaning but the creation of meaning (Routledge, 2021). His books have been on the curricula at Villanova, Temple University, and the Wharton School of Business, and have been translated into 15 languages.
Tiffany Peterson
Tiffany Peterson is a seasoned speaker and international coach guiding individuals, teams, and audiences in creating thriving personal lives and successful business results. Her podcast show ranks in the Top 1% of all global podcasts.
Before founding her own company, The Lighthouse Principles, Tiffany worked with and for many popular brands: Franklin Covey, The 7 Habits of Highly Effective People, the world famous Rich Dad, Poor Dad series, and Jack Canfield, creator of The Chicken Soup for the Soul series, helping each of these brands set new sales records and experience expansive new growth.
Tiffany is passionate about empowering others with proven, universal success habits and her tried and true sales strategies. She has coached people all around the globe to successfully create with intention a life and a business that they love.
For more information about creating your ideal life and results, visit www.TiffanySpeaks.com
Sigrun Gudjonsdottir
Sigrun is an award winning business coach, best-selling author, and multiple 7 figure entrepreneur. She is on a mission to accelerate gender equality through female entrepreneurship. She’s been called the leading business mentor for online entrepreneurs in Europe, is a TEDx speaker, and host of the top-rated Sigrun Show podcast. Sigrun has been featured in Forbes and numerous leading media publications in Europe and in 2021 she won 5 Stevie Awards; as the Heroine of the year, Entrepreneur of the year, Solo entrepreneur of the year, Manager of the year, and Sales Achievement of the year.
Tanya Dalton
Tanya Dalton is a transformational speaker, best-selling author, and nationally recognized productivity expert. She helps female executives and entrepreneurs step into purposeful leadership.
In addition to having her first book, The Joy of Missing Out, being named one of the Top 10 Business Books of the year by Fortune Magazine, Tanya’s podcast, The Intentional Advantage has received millions of downloads from listeners around the world. She is also a featured expert on several networks including NBC and Fox and is a VIP contributor for Entrepreneur.com. Tanya has been featured in some of the world’s leading publications including Forbes, Inc, Fast Company, and Real Simple. She has been awarded the elite Enterprising Women Award and has been named the Female Entrepreneur to Watch for the state of North Carolina.
Tanya is also the founder of inkWELL Press Productivity Co. a multi-million dollar company providing tools that work as a catalyst in helping women do less while achieving maximum success.
Her highly anticipated second book, On Purpose: The Busy Woman’s Guide to an Extraordinary Life of Meaning and Success, launched last fall through HarperCollins Publishing.
Lisa Larter
Lisa Larter has successfully built two businesses that generate in excess of seven figures and has helped many of her clients reach the same mark.
Founder and CEO of the Lisa Larter Group, she is a master strategist, author, speaker, podcast host, social media expert, consultant, and business coach. Lisa inspires entrepreneurs and business owners to see the possibilities for their organizations for growth and success. She deconstructs modern marketing and creates (and implements) strategies for businesses that are guaranteed to increase visibility, inbound leads, and revenue.