Profit First – Book Review

by Tina on October 17, 2014

Let me give you a cliff notes version of my FAVORITE biz book of 2014… a must read if you want to keep your money.

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How Do You Measure Success?

by Tina on October 10, 2014

It’s not just about sales & revenue – you want to be actively measuring your success in these 3 key areas.

How do you measure success as the purposeful CEO of your small business?

You’ve likely heard some entrepreneurs share “I had a 6 figure launch.” or “Last year we reached 7 figures!” … and you’ve compared your success to theirs. Don’t let yourself fall into this ‘success trap’.

Here are 3 things you can measure to determine the success of your business:

1. Money

The money in your business is more than the revenue that’s coming in – it’s the profit.   

Do you know the dirty little secret out there in the entrepreneur world? Many business owners are not getting paid well by their company; yes, even when their company is making a whole lot of money.    That’s because their revenue may be high, but their expenses are also high … leaving little for profit.

Profit means much more than revenue.  You need to be getting paid in a way that creates success for you and your small business.

2. Meaning
You are a purpose led entrepreneur. I am too. I wouldn’t be sharing this information with you if I wasn’t building my business on meaning.

To measure if you are successful in the area of meaning, ask yourself if you’re happy with the vision of your company. Have you shared your vision with your team, and if so, are they excited about it too?

If you, as CEO, and your team are able to be the best of who they are in your business, you’re doing great in achieving ‘meaning’ success in your business.

3. Freedom
Freedom is the ability to do what you want to do when you want to do it.

Freedom is a big part of why I started my business. It’s the reason many other entrepreneurs have started their business as well.

To measure your success in the freedom department, ask yourself if you’re able to take a vacation and still have your business run without you, or is that virtually impossible? Can you take even a few days off here and there, enjoy weekends off and not work 24/7 … or do you feel like you need to work all the time – day, night and weekends?

If you’re business isn’t set up to run without you, you’re not successful in the freedom area. The good news is, this can be fixed.

I’m curious, as the CEO of your small business, how do you score in each of these three areas?

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My top tip for success?

by Tina on October 8, 2014

Simple – keep going.

There is no magic formula. There is no “one size fits all” path to get there. If you keep looking for an easier way to get there you probably won’t find it (or if you do someone is selling you a pipedream.)

The path is different for everyone and the only way to ensure success is to keep going.

It doesn’t matter how many times you fall down. How many mistakes you make or how often you feel like you’ve screwed up.

Failure only happens when we stop. Everything in between is simply part of the journey.

Success is not final, failure is not fatal: it is the courage to continue that counts. ~ Winston Churchill

keepgoing

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Hard work is sexy!

by Tina on October 6, 2014

It’s so easy to look at someone else and think they got lucky, they were in the “right place at the right time” or that they have opportunities that you don’t have.

That is simply not true – success comes from hard work.

It comes from taking a step forward every day, even when you don’t feel like it (especially when you don’t feel like it!)

It comes from daring to go for what you really want, instead of just settling for what you have.

It comes from being willing to do the things that other people aren’t doing, even if they think you are a bit crazy.

It comes from knowing your purpose and being 100% committed to doing whatever it takes.

I think that’s damn sexy.

luck

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The 4 Signs of Entrepreneurial Burnout

by Tina on October 3, 2014

Originally posted on July 4, 2013.

You may be in burnout right now and not even realize it.

I’ve had this conversation with a few clients recently about burnout and how their current challenges simply boiled down to the fact that they are in burnout and need to take a break.

(My favorite assignment to give someone is to take a week off – woo hoo!)

Here are my top 4 signs of entrepreneurial burnout:

  1. You are perpetually stressed – grumpy, frustrated, impatient, annoyed, overwhelmed. I don’t mean having a bad day here and there – we all have those as entrepreneurs! I’m talking about feeling this way for weeks on end and it’s not getting any better.
  2. The people around you are noticing that you are stressed – if those that you spend the most time with (family, team or clients) are noticing this, then it may be a bigger deal then you realize. And they might not want to mention it to you, so you may need to ask if you want to know what they are noticing.
  3. You aren’t able to get stuff done anymore – the things that you would normally do really quickly and easily you are suddenly not doing well anymore. You are dropping the ball, missing stuff that you normally wouldn’t miss or simply aren’t performing at the level you want to be.
  4. You are experiencing health issues – you may be having trouble sleeping. Or perhaps you are getting sick more often or for longer periods of time. For some folks you may suddenly find yourself getting hurt or having accidents.

Believe me I get it – I’ve experienced all of these myself over the years.

The solution? First step is to recognize it for what it is. In my experience, burnout is not something you can “push through”… it’s something you need to release.

When I have a client in burnout, my recommendation is that they start by taking a break – preferably at least a week of 100% unplugged time. For many of you, that will be enough to hit the reset button and you’ll be back in action… if not then there might be bigger issues at hand that you’ll need to explore.

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“But I don’t have the time”

by Tina on October 2, 2014

Forgive me if I sound harsh but if you tell me this I just might bop you over the head.

Why?

Because we ALL have the exact same amount of time in the day.

The only thing that differentiates us from each other is how we SPEND our time.

Consider someone who you admire. Someone who has created the kind of success that you crave? (perhaps you are even a bit jealous…)

How do you think they are spending their time differently than you?

What if you did the same?

As a CEO you can no longer use the “I don’t have enough time” excuse.

It’s time to start letting go of the things that you shouldn’t be doing anyhow. Find someone else to do them, look to automate them or stop doing them entirely (you might be amazed how often you can just stop doing something and it really doesn’t have an effect on your bottom line.)

Your time is valuable, spend it wisely.

makethetime

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Are we afraid that if we are REAL about what it takes then maybe we will scare people off? If so then allow me to do just that, because creating success is not for the faint of heart.

Maybe we are afraid that they won’t want to hire us if we tell them how hard it really is? I would rather have clients who are ready to do the work vs. those who are expecting me to make it easy (cause I can’t make it easy, I can just be on the journey with you.)

I’m not going to sugarcoat it – being successful in business will test us at every level – financial, spiritual, emotional, mental.

Success is created day by day, step by step – every time we risk putting ourselves out there in service of our clients, our purpose and to create our livelihood.

Yes, there are success *highs* along the way – hitting 6-figures, filling a program, that amazing client that says yes. But those highs are only temporary and will fade.

Once they fade what are you left with? The next step…

As the CEO of a purpose led business the key is to find success in the journey and not just the destination.

#Patience #hardwork #success

overnightsuccess

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The Timing Just Isn’t Right

by Tina on September 26, 2014

At this time last year I DIDN’T want to do it.

I was in the middle of my divorce and holding the space for everything involved in that. My business was going well, but I personally was feeling unmotivated and exhausted… the timing just wasn’t right.

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I am haunted by doubt pretty much every day

by Tina on September 26, 2014

doubtIt is my Achilles heel. My form of resistance. The way my upper limit is triggered (as per the book The Big Leap by Gay Hendricks – great read)

Doubt sucks. If I’m not careful and purposeful then doubt will sneak in and suck the wind out of my sails.

“That sounds nice but it is really possible?”
“What makes you think people want that from YOU?”
“You could try it but what if it doesn’t work?”
“Just because NAME did it doesn’t mean you can do it too”

A few years back I asked one of my mentors David Neagle how to get rid of doubt. (fear, worries, etc)

His answer was that we can’t get RID of doubt, rather we have to act in spite of it. We have to focus on what we want so that it becomes bigger than the doubt.

As the CEO of our business we have to wake up each day and make a decision – am I going to let doubt rule today?

This is what I aim to do each day. Am I perfect? Heck no! Many days doubt does sneak up but you better believe I don’t let it stop me.

 

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You can’t cut your own hair

by Tina on September 24, 2014

“I do this for my clients all the time – why can’t I do it for myself?”

I remember asking one of my mentors Fabienne Fredrickson this question a few years back and her reply was just that – we can’t cut our own hair (or at least we won’t do a very good job if we try.)

As the CEO of your company you need to be able to accept the fact that you can’t do it all on your own. There are times where you NEED to get help from the outside.

This is especially true when it comes to strategy:

  • what is my vision?
  • what is my WHY?
  • what do I want to offer?
  • who is it for?
  • how much money do I want to make?
  • how do I lay out a plan?
  • how the heck do I get it all done?

If we try to figure this stuff out on our own we can easily get stuck and keep ourselves small. We can end up trying to answer the questions that we shouldn’t be answering. We might spin our wheels, waste time and money trying the wrong thing (when we could have simply asked someone who knows.)

If you are a purpose-led entrepreneur who is here to make an impact and make money you simply don’t have the time to waste. There are people out there who need what you have to offer, and if you are stuck they can’t find you.

What question have you been trying to answer for yourself? What project have you been keeping because you “should” be able to do it? Might be time to let go and reach out.

This is what being a CEO is all about.

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