Just a brief article that adds to what I was talking about in my last post ... your mindset and how it enables or limits your ability to see success as someone starting, running & building their business. So much of all that we do revolves around how we see things, feel things and the filters we've created that interpret information.
This article reminds us that when we are working on our business, it's not just about the bottom line, new strategies, marketing...it's also about working on our attitudes and mindsets.
Three Reasons you are not Making Money- Another suggestion off of this would be to check out INC Magazine. I've said it before ... it's a really inexpensive resource for business people who are faced with the daily challenges of running their business.
Tuesday, October 19, 2010
Monday, October 18, 2010
Do you believe you can be successful?
I just finished reading an article from the times entitled "Culture of Poverty" makes a comeback and what struck me when reading it was how the thoughts behind this article may apply to anyone considering working for themselves...going out on their own.
There are many articles about families who, for generations, maintained family businesses. Did it happen because these families had a belief system that "they could" thus reinforcing their future endeavors of self-employment and running their own business or was it something else? Whatever the answer is it is always interesting to learn about business families and how they came to building a business.
As you work to develop your own business and build your client base check your thoughts. Do you find your mind filled with thoughts that undermine your success? Is it difficult for you to visualize your future and your business future? No one in my family who has ever worked for themselves...why do I think I will succeed? Does your family support your efforts? If you are in a relationship, are you leaning too much on this person and not really striking out with both feet out the door getting fully committed to the process
Sometimes I think it is difficult to visualize building a business because of our own insecurities and perceptions and our family's perceptions of what we are capable of; how we view the world of opportunity. I can remember in my family no one would have started their own business. Absolutely not. These people grew up and experienced the depression and that experience made a strong impression on them. If you had a job you kept that job and never risked the family's sense of security. Yet, others who were in business at the time stayed put and some survived in creative ways. Yet they saw a different picture. They saw that having a job didn't mean anything because you could lose it and be out in the cold but having your own business gave you some sense of control over your lively hood and they worked night and day to keep their small businesses going. Now many highly educated people are unemployed and I bet that they thought their jobs were secure. They thought that they had reached their goals; good jobs, great families, nice houses, a sense of security around their "job" yet it was a false security and when the economy dropped, their jobs were dropped as well and their plans and their future were forced to change.
What I'm getting at is how you see yourself and your opportunities can strongly influence your success in building your business. I've said many times that being an employee creates a set of invisible "blinkers"...yes, those things they put on race horses so they only see what's in front of them. I think it's an apropos visual because as employees that's what we do. We look straight ahead, do our jobs and whatever time is left we give to family, friends and recreational activities. However, because of these "blinkers" we miss what's happening around us. We miss other possibilities that exist outside the work environment. We miss the opportunity to create a more meaningful life by growing something that is ours alone and something that can make all the difference in how we view our world and our life. Being self-employed does not have to mean struggling and getting no where...to the contrary, it can mean building something worth working at that grows each day.
Don't be a victim of 'employment poverty' - empower yourself to see the world as a place filled with opportunities, because if you change your perception of what's out there, you'll be amazed how those opportunities will show up for you. Remember those 10,000 hours too. Anyone who has worked as long as you have certainly possesses the ability to do something with confidence and skill. It's Monday...make this week one of discovery and creativity. Start it by checking your perceptions and making adjustments and end it with a strong mindset that believes you can do this!
There are many articles about families who, for generations, maintained family businesses. Did it happen because these families had a belief system that "they could" thus reinforcing their future endeavors of self-employment and running their own business or was it something else? Whatever the answer is it is always interesting to learn about business families and how they came to building a business.
As you work to develop your own business and build your client base check your thoughts. Do you find your mind filled with thoughts that undermine your success? Is it difficult for you to visualize your future and your business future? No one in my family who has ever worked for themselves...why do I think I will succeed? Does your family support your efforts? If you are in a relationship, are you leaning too much on this person and not really striking out with both feet out the door getting fully committed to the process
Sometimes I think it is difficult to visualize building a business because of our own insecurities and perceptions and our family's perceptions of what we are capable of; how we view the world of opportunity. I can remember in my family no one would have started their own business. Absolutely not. These people grew up and experienced the depression and that experience made a strong impression on them. If you had a job you kept that job and never risked the family's sense of security. Yet, others who were in business at the time stayed put and some survived in creative ways. Yet they saw a different picture. They saw that having a job didn't mean anything because you could lose it and be out in the cold but having your own business gave you some sense of control over your lively hood and they worked night and day to keep their small businesses going. Now many highly educated people are unemployed and I bet that they thought their jobs were secure. They thought that they had reached their goals; good jobs, great families, nice houses, a sense of security around their "job" yet it was a false security and when the economy dropped, their jobs were dropped as well and their plans and their future were forced to change.
What I'm getting at is how you see yourself and your opportunities can strongly influence your success in building your business. I've said many times that being an employee creates a set of invisible "blinkers"...yes, those things they put on race horses so they only see what's in front of them. I think it's an apropos visual because as employees that's what we do. We look straight ahead, do our jobs and whatever time is left we give to family, friends and recreational activities. However, because of these "blinkers" we miss what's happening around us. We miss other possibilities that exist outside the work environment. We miss the opportunity to create a more meaningful life by growing something that is ours alone and something that can make all the difference in how we view our world and our life. Being self-employed does not have to mean struggling and getting no where...to the contrary, it can mean building something worth working at that grows each day.
Don't be a victim of 'employment poverty' - empower yourself to see the world as a place filled with opportunities, because if you change your perception of what's out there, you'll be amazed how those opportunities will show up for you. Remember those 10,000 hours too. Anyone who has worked as long as you have certainly possesses the ability to do something with confidence and skill. It's Monday...make this week one of discovery and creativity. Start it by checking your perceptions and making adjustments and end it with a strong mindset that believes you can do this!
Sunday, October 17, 2010
10,000 Hours
Did you know that to become an expert; someone really good at something, you need to spend 10,000 hours practicing your skill to achieve this?
If you use a regular work year which is generally, 2,080 hours, that would mean 4.81 years focusing on one area. Seems like a long time? Not really when you think about how many years you've been working in your field or doing the technical tasks you do that you are now providing to others as a self-employed individual. It's actually quite comforting to know that you've done your homework and have probably put in at least those 10,000 hours and can feel confident that you do have something to offer.
Sometimes I'm sure you don't feel that confident, especially when being on your own means there's no guarantee that next client will show up. There's no one handing you a project or giving you a task...it's all up to you and the days can present many challenges that being an employee does not prepare you for when you stepped away from the job and moved into self-employment.
I've noticed since the days have been slowly getting shorter I've been getting more anxious about each day and how I'm going to get the business with less daylight hours to work? I almost feel like the farmer who worked from sunrise to sunset. When the days are long much can be accomplished, however, as winter grows near, daylight is lessened and to some degree so is our time to be out there building business. No, the hours available are the same but somehow the feeling is different.
This morning when I was reading the article that talked about the 10,000 hours, I thought about how long I've been working and with a rough calculation I found that I've worked over 85,000 hours! First, how is it possible that I've worked that many hours? Second, that means there's a high probability that in that time I've developed an 'expert' skill at something and third, I feel pretty good knowing I've put so much time into working with and learning to understanding people, small business management, office management and financial statements. When I look at that span of time, the numerous positions I've held and the number of business environments I've worked in I realize that I definitely have something to offer BUT...being self-employed, on my own, working daily to build a business...now, that's a different story. I haven't put in 10,000 hours being self-employed...maybe 1000 with only 9,000 to go.
It's actually inspiring to me to think that I've only got 4.33 years before I reach a point where even building a business will be something I would have put 10,000 hours into and I believe I will do it...why not? What's another 4 years when one considers all that will be happening during that time. Building a business is such an exciting adventure...and one that seems to be the culmination of all the other 85,000 hours. It's not like I'm going off without any experience.
So, why don't you start your week by thinking about how many hours you've spent developing your skills. Make your own calculations - how many hours have you been working in your field? I bet that once you find out how many hours you've put into your profession, you will feel stronger, more confident and better able to look at each week as one week closer to your own 10,000 hours.
If you use a regular work year which is generally, 2,080 hours, that would mean 4.81 years focusing on one area. Seems like a long time? Not really when you think about how many years you've been working in your field or doing the technical tasks you do that you are now providing to others as a self-employed individual. It's actually quite comforting to know that you've done your homework and have probably put in at least those 10,000 hours and can feel confident that you do have something to offer.
Sometimes I'm sure you don't feel that confident, especially when being on your own means there's no guarantee that next client will show up. There's no one handing you a project or giving you a task...it's all up to you and the days can present many challenges that being an employee does not prepare you for when you stepped away from the job and moved into self-employment.
I've noticed since the days have been slowly getting shorter I've been getting more anxious about each day and how I'm going to get the business with less daylight hours to work? I almost feel like the farmer who worked from sunrise to sunset. When the days are long much can be accomplished, however, as winter grows near, daylight is lessened and to some degree so is our time to be out there building business. No, the hours available are the same but somehow the feeling is different.
This morning when I was reading the article that talked about the 10,000 hours, I thought about how long I've been working and with a rough calculation I found that I've worked over 85,000 hours! First, how is it possible that I've worked that many hours? Second, that means there's a high probability that in that time I've developed an 'expert' skill at something and third, I feel pretty good knowing I've put so much time into working with and learning to understanding people, small business management, office management and financial statements. When I look at that span of time, the numerous positions I've held and the number of business environments I've worked in I realize that I definitely have something to offer BUT...being self-employed, on my own, working daily to build a business...now, that's a different story. I haven't put in 10,000 hours being self-employed...maybe 1000 with only 9,000 to go.
It's actually inspiring to me to think that I've only got 4.33 years before I reach a point where even building a business will be something I would have put 10,000 hours into and I believe I will do it...why not? What's another 4 years when one considers all that will be happening during that time. Building a business is such an exciting adventure...and one that seems to be the culmination of all the other 85,000 hours. It's not like I'm going off without any experience.
So, why don't you start your week by thinking about how many hours you've spent developing your skills. Make your own calculations - how many hours have you been working in your field? I bet that once you find out how many hours you've put into your profession, you will feel stronger, more confident and better able to look at each week as one week closer to your own 10,000 hours.
Thursday, October 14, 2010
Getting Your Message Across
Sometimes I think that an idea or solution is so perfect that I believe everyone else is going to believe it is as well. I have such excitement and enthusiasm when describing it that the energy exuded by me is almost infectious but the question I have to ask is this: Does my client buy into this solution and does their understanding share the same enthusiasm?
I think we are all guilty of thinking we got our message across only to find out that it got lost in translation. I recently had that happen to me. I was working on finishing up 2009 books for a client and there were credit card statement entries missing. I explained to the client if she would just let me enter the credit card charges on a regular basis, it would be easier for balancing purposes. To get things done for taxes however, now that we were in a crunch, I suggested that I could do summary entries, meaning I would enter one credit card charge for all supplies, one for all fuel, one for all computer supplies, etc and then be able to balance and get the books done for taxes. Well, when she spoke with her tax preparer she conveyed that as I was planning on 'jamming' balancing journal entries in to make it balance. Huh? How did one become the other?
These misunderstandings are very common, because we take for granted and don't think about, the assumptions we are making in each and every situation. In this one, because my client isn't involved with doing books on a regular basis, she didn't understand what I was meaning but it translated in her mind as she described. Not her fault - but it served as a reminder to me that I need to be very clear with what I am saying and make sure the party I am speaking to has really understood my message.
Let's take this to another level - let's say you are meeting with a new client who is looking to hire you to create a marketing plan. You assess the situation, make your presentation with recommendations and then begin implementation. In the process the client begins to balk and starts asking questions and revising written materials and soon you realize things are getting off message. How did this happen? You thought the client understood the vision you had developed for them but now it appears they really didn't and want to make changes. What do you do? How do you recover?
When you are starting out in the world of self-employment, you are always being tested; either by yourself or by your potential clients - it's part of what makes being on your own thrilling and frightening at the same time. Each person I have talked to about their business experiences have had these experiences. But when you are new to selling a message or vision you are still, on some level, continuing to develop your message. The more you can create opportunities to deliver your message, the more skilled you will become at making it clear and concise and easy to understand.
Getting your message across is a little like being a stand-up comic...you get up and deliver your message (joke or funny story) hoping to get a laugh or applause from your audience. We in business hope to gain a new client...however, if they don't laugh and ask you to leave the stage it's a good indication you probably need to get new material. Try it - make a goal of delivering your message to a mixed bag of people. Then ask them to paraphrase what you just said and see what happens. It's a great tool in helping you develop messages that leave very little room for being misunderstood.
I think we are all guilty of thinking we got our message across only to find out that it got lost in translation. I recently had that happen to me. I was working on finishing up 2009 books for a client and there were credit card statement entries missing. I explained to the client if she would just let me enter the credit card charges on a regular basis, it would be easier for balancing purposes. To get things done for taxes however, now that we were in a crunch, I suggested that I could do summary entries, meaning I would enter one credit card charge for all supplies, one for all fuel, one for all computer supplies, etc and then be able to balance and get the books done for taxes. Well, when she spoke with her tax preparer she conveyed that as I was planning on 'jamming' balancing journal entries in to make it balance. Huh? How did one become the other?
These misunderstandings are very common, because we take for granted and don't think about, the assumptions we are making in each and every situation. In this one, because my client isn't involved with doing books on a regular basis, she didn't understand what I was meaning but it translated in her mind as she described. Not her fault - but it served as a reminder to me that I need to be very clear with what I am saying and make sure the party I am speaking to has really understood my message.
Let's take this to another level - let's say you are meeting with a new client who is looking to hire you to create a marketing plan. You assess the situation, make your presentation with recommendations and then begin implementation. In the process the client begins to balk and starts asking questions and revising written materials and soon you realize things are getting off message. How did this happen? You thought the client understood the vision you had developed for them but now it appears they really didn't and want to make changes. What do you do? How do you recover?
When you are starting out in the world of self-employment, you are always being tested; either by yourself or by your potential clients - it's part of what makes being on your own thrilling and frightening at the same time. Each person I have talked to about their business experiences have had these experiences. But when you are new to selling a message or vision you are still, on some level, continuing to develop your message. The more you can create opportunities to deliver your message, the more skilled you will become at making it clear and concise and easy to understand.
Getting your message across is a little like being a stand-up comic...you get up and deliver your message (joke or funny story) hoping to get a laugh or applause from your audience. We in business hope to gain a new client...however, if they don't laugh and ask you to leave the stage it's a good indication you probably need to get new material. Try it - make a goal of delivering your message to a mixed bag of people. Then ask them to paraphrase what you just said and see what happens. It's a great tool in helping you develop messages that leave very little room for being misunderstood.
Sunday, October 10, 2010
Keeping your roots in mind!
I have been very busy trying to finish a couple projects so it's been difficult to focus on writing but this morning I read such a great article about the man that runs "Tods" the Italian shoes that have been around for such a long time. I'll include the link to the article because there is an important lesson to be learned from it for all small businesses and that is cheap is not always the best way to proceed in business. Sometimes staying with the quality of the product or service you've sold in the market place is far more important than always finding cheaper ways to do things.
Diego Della Valle A Shoemaker's Story who took over the business of producing the Tods shoes from his father, tells a charming story of how important it has been to him to keep production in Italy. It has become part of his branding and unlike other companies who have sought to reduce costs by going elsewhere where production costs are less expensive, he believes that part of what he is selling is the fact that production remains in Italy, thus preserving the quality that has been part of why his customers pay the premium for these shoes.
In this story are business lessons we can all learn from...that the success we are working towards has more factors than just our bottom line. We must not forget how we started and the people and ideas that inspired us along the way. These are the things that become part of the story we sell that our customers and clients buy and if they can connect with the 'heart' of the business we have a great opportunity to join with them in developing a business partnership based on common values.
Something to remember is not everyone is our customer and that is ok. But we need to really know ourselves and the ideas and values we are representing so that our message is consistent - no matter whether it's on a website, tweet, any social media or paper advertising.
Diego Della Valle A Shoemaker's Story who took over the business of producing the Tods shoes from his father, tells a charming story of how important it has been to him to keep production in Italy. It has become part of his branding and unlike other companies who have sought to reduce costs by going elsewhere where production costs are less expensive, he believes that part of what he is selling is the fact that production remains in Italy, thus preserving the quality that has been part of why his customers pay the premium for these shoes.
In this story are business lessons we can all learn from...that the success we are working towards has more factors than just our bottom line. We must not forget how we started and the people and ideas that inspired us along the way. These are the things that become part of the story we sell that our customers and clients buy and if they can connect with the 'heart' of the business we have a great opportunity to join with them in developing a business partnership based on common values.
Something to remember is not everyone is our customer and that is ok. But we need to really know ourselves and the ideas and values we are representing so that our message is consistent - no matter whether it's on a website, tweet, any social media or paper advertising.
Tuesday, October 5, 2010
Are you ready for October 15th?
If you know what that title means then you are probably rushing now to get your business information to your CPA or tax preparer because you did not get things done on time to file your 2009 taxes by April 15th. Well, you are probably in good company because many people file taxes late.
One thing you need to understand, especially if you're self-employed, is that you need to file your taxes in a timely basis. Not having the money to pay your taxes is a separate and distinct issue that can be a real concern for any taxpayer, but is one that you can discuss with the IRS and work out a payment plan. The IRS is not unreasonable to deal with and in most cases if you are paying your quarterly estimated tax payments (or at least attempting to do so) and you file your taxes on time, you will probably be able to work things out with the IRS representative you end up talking with.
However, if you have made a lot of money in your business (good for you) but you haven't been paying your estimated quarterly tax payments (bad for you) and then you file taxes and don't pay the taxes due (another bad for you) it is then when the IRS can get a bit testy - why? Simply put -- you made the money, you had the money but you didn't pay your taxes!
I am no tax expert. I am the one that prepares the information for the CPA's, Tax Attorneys and tax preparers so my goal is to prepare, throughout the year. Have all the information input into Quick Books or some format the client is using and make sure their estimated tax payments are made and their back up is organized but when small business owners or self-employed individuals are "doing it all" they seldom have the time to be that organized. My suggestion is to always have your documentation and financial records in order and ready - it is the responsibility of any business owner to do this because the IRS considers you a business - even if it is only you and really who wants to be on a first name basis with the IRS because you're behind with your tax payments or you aren't filing your taxes?
It's only the 5th of October ... make a point of making 2010 the year of change and filing your taxes on time!
One thing you need to understand, especially if you're self-employed, is that you need to file your taxes in a timely basis. Not having the money to pay your taxes is a separate and distinct issue that can be a real concern for any taxpayer, but is one that you can discuss with the IRS and work out a payment plan. The IRS is not unreasonable to deal with and in most cases if you are paying your quarterly estimated tax payments (or at least attempting to do so) and you file your taxes on time, you will probably be able to work things out with the IRS representative you end up talking with.
However, if you have made a lot of money in your business (good for you) but you haven't been paying your estimated quarterly tax payments (bad for you) and then you file taxes and don't pay the taxes due (another bad for you) it is then when the IRS can get a bit testy - why? Simply put -- you made the money, you had the money but you didn't pay your taxes!
I am no tax expert. I am the one that prepares the information for the CPA's, Tax Attorneys and tax preparers so my goal is to prepare, throughout the year. Have all the information input into Quick Books or some format the client is using and make sure their estimated tax payments are made and their back up is organized but when small business owners or self-employed individuals are "doing it all" they seldom have the time to be that organized. My suggestion is to always have your documentation and financial records in order and ready - it is the responsibility of any business owner to do this because the IRS considers you a business - even if it is only you and really who wants to be on a first name basis with the IRS because you're behind with your tax payments or you aren't filing your taxes?
It's only the 5th of October ... make a point of making 2010 the year of change and filing your taxes on time!
Thursday, September 30, 2010
Business and Parenting and all those Dynamics
Do you believe that to run a business smoothly you need to be a "Good Parent" ?
From my reading, observation and personal experiences working with or in a small business requires not only the usual business savvy, drive and desire to succeed but the desire to be a 'Good Parent', setting the appropriate expectations, limits and boundaries that translate to employees who know what's expected of them and work within the guidelines that are established.
Easier said than done though because like every family, there are the many dysfunctions that make it work or not work. Some would say that even with the dysfunctions the 'family' still functions and that is true and fine for the family but when you are running a business you cannot expect to have a thriving professional environment if you allow a family attitude develop that only transfers your family dysfunctions over into your business.
I have worked the majority of my career in businesses with 25 or less employees and for the most part they were run pretty successfully but the ones that seemed to have the most problems were run by people who brought the family dysfunctions that they may have grown up with or created in their own homes to the office place. As you know, the behavioral patterns that we develop [good or not so good] are a result of our experiences, reactions and desires to please or survive the situations we encounter. It would seem to make sense that if we lived in a family that used boundaries, limits and expectations as a way of managing the home and kids that these people would bring this method of seeing and organizing their world to their business?
If a man was a passive husband, passive father and didn't really step up and be an active part of the 'team' raising the family, wouldn't it follow that he might run a business in a more passive way? If a woman had to be a single mother 100% responsible for her family and home, in order to survive and stay in front of the curve she would have to develop a set up skills that would allow her to keep everything moving forward. She would have to be organized, solution-oriented, clear in setting expectations ... the list goes on. Doesn't it seem to follow that she would run a business in a similar manner. Then there's the couple who work as a team, sharing the responsibilities of the home and raising a family - creating a united front when faced with challenges and the decision making that goes on day to day. I believe these people would run their business in the same manner, supporting teamwork and respect and combined decision making. It doesn't make sense that their default would be otherwise. But there are all kinds of ways people run their business which is something I find very interesting to study.
What do you think? Anyone reading this who would be willing to sit down and be interviewed for an article I want to write please contact me. I think now more than ever self-employment which is another word for "small business" is on the rise and I want to support every one's effort through information and education which is why I want to write more about the experience.
So ask yourself, how am I being a good parent to my business and those who work for me? Tell me what you come up with.
From my reading, observation and personal experiences working with or in a small business requires not only the usual business savvy, drive and desire to succeed but the desire to be a 'Good Parent', setting the appropriate expectations, limits and boundaries that translate to employees who know what's expected of them and work within the guidelines that are established.
Easier said than done though because like every family, there are the many dysfunctions that make it work or not work. Some would say that even with the dysfunctions the 'family' still functions and that is true and fine for the family but when you are running a business you cannot expect to have a thriving professional environment if you allow a family attitude develop that only transfers your family dysfunctions over into your business.
I have worked the majority of my career in businesses with 25 or less employees and for the most part they were run pretty successfully but the ones that seemed to have the most problems were run by people who brought the family dysfunctions that they may have grown up with or created in their own homes to the office place. As you know, the behavioral patterns that we develop [good or not so good] are a result of our experiences, reactions and desires to please or survive the situations we encounter. It would seem to make sense that if we lived in a family that used boundaries, limits and expectations as a way of managing the home and kids that these people would bring this method of seeing and organizing their world to their business?
If a man was a passive husband, passive father and didn't really step up and be an active part of the 'team' raising the family, wouldn't it follow that he might run a business in a more passive way? If a woman had to be a single mother 100% responsible for her family and home, in order to survive and stay in front of the curve she would have to develop a set up skills that would allow her to keep everything moving forward. She would have to be organized, solution-oriented, clear in setting expectations ... the list goes on. Doesn't it seem to follow that she would run a business in a similar manner. Then there's the couple who work as a team, sharing the responsibilities of the home and raising a family - creating a united front when faced with challenges and the decision making that goes on day to day. I believe these people would run their business in the same manner, supporting teamwork and respect and combined decision making. It doesn't make sense that their default would be otherwise. But there are all kinds of ways people run their business which is something I find very interesting to study.
What do you think? Anyone reading this who would be willing to sit down and be interviewed for an article I want to write please contact me. I think now more than ever self-employment which is another word for "small business" is on the rise and I want to support every one's effort through information and education which is why I want to write more about the experience.
So ask yourself, how am I being a good parent to my business and those who work for me? Tell me what you come up with.
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