What you learned about ideal clients is wrong

When I started my business, helping women transition “Outside the Cubicle”, I was coached to work with women who were “just like me”.  I was told, that I was my own “ideal client”.  In fact I had various coaches (yes I explored a few until I found the right fit) that told me that even the values that they had should overlap with mine. I was also told that this would make it easier for me to market to my audience.  Let me be the first to declare that this is a load of CRAP!

Yeah that’s right I said it! It’s CRAP!!

Why is it crap you might be asking? Or you may even be thinking “Silvia, you are the one that is full of crap!”  Let me take a moment and explain why I know this is the wrong approach and how you can take this useful tidbit of information and watch your business thrive!

Crap assumption #1: You are your ideal client – chances are your ideal client doesn’t want to study your topic to the level that you are studying it.  For example, I have a client named Betty, who does spiritual development work.  Now, Betty LOVES all things spiritual. She is constantly trying on new methods of spiritual practice, testing out new theories, etc.  Her ideal client is someone who has “hit a wall” and is seeking guidance to move forward.  Does this ideal client really want to learn all the theory and latest and greatest around spiritual development or do they just want help getting past the wall?  Therefore Betty and her ideal client aren’t quite the same are they?

Crap assumption #2: Your values need to overlap with your ideal client’s values – here’s the truth, no one else out there will have the exact same values as you.  Even if by some miracle your values are the exact same, chances are how you DEFINE your values will be different.  Now let’s take another example, that of my client Nancy. She works with startups, helping them build out their leadership and succession planning.  Do you think Nancy’s values are going to be the same as the values of this new startup?  Probably not.  So, if she were to market to them, using her values will it resonate with the leaders of the startups?  NO!

What this means for you:

1. You can release the need to create an ideal client profile that is EXACTLY like you (believe me my ideal clients have kids in college and on average are 53).
2. Once you create a more accurate ideal client profile, THEN create a list of what they value. This will help you to better market to them .

On a final note, I’m not advocating you work with anyone who has values that are in direct conflict with your own – as my husband would say, doing that would be “No Bueno”.  That said, remember, clients that come your way that have complementing but not overlapping values are great to have in your business.

Please leave a comment below, on any insights you’ve gained from this post, or comment on how you’ve dealt with values in your business.

Business Expenses: Not glamorous but necessary

Have you ever noticed that when we think about our finances, we sometimes exaggerate how complex they are? We begin to think about them and instead of realizing how simple and straightforward they are, we begin to think about all the little pieces of paper we need to find. We think about how we have NO idea where we put the bills. We start berating ourselves because we haven’t been keeping track of our mileage or cash purchases. We wonder what we can write off and worry about doing something wrong – all this before we even START doing anything to begin with!

Well if you are like me, and I suspect you are a little like me in this respect, we tend to make a mountain out of a mole hill and instead of facing it we RUN away. Like the proverbial runaway bride, we would rather skip town than make the commitment. The only difference is that we can’t leave our finances at the altar. We need to face them, because sooner or later they will catch up to us – or at least our respective government will! So today, I’d like to share with you some of my tips for staying organized and on top of your numbers!

1. Create a system for tracking all your expenses. Now I’m totally optional, meaning I love things to fit the individual – therefore I encourage you to do what feels right. For myself – someone who needs a little more structure- I have a spreadsheet that lists out all my bills, amounts and due dates. That way I know when expenses will hit my business account. In that spreadsheet I also keep track of all my home utilities, and expenses. Since I use part of my home for my business, this becomes essential during tax time (please check with your CPA regarding your personal tax situation).
2. Use your system and modify as needed. Perhaps this goes without saying, but sometimes I feel it’s best to state the obvious. Once you’ve got your system set up, then stick to it. If something isn’t working – instead of telling yourself you are bad with numbers or keeping track of your finances – just modify what’s not working. I have a client who constantly told herself she needed to keep track of everything at least on a quarterly basis. That it was the “right thing” to do. But she never did it! So I told her, to save all her receipts in one place and then before she went to her CPA – to carve out a weekend to reconcile everything. And guess what, it worked for her! So instead of trying to force yourself into doing something you think you “should” do – just do what works for you – whatever that is!
3. Be sure to incorporate expenses into your services/product pricing. I learned this one the hard way, over and over and over again. Did I say over and over? Look, sometimes you can be super smart – but you might not be so bright in some instances. This is a place where I was definitely challenged. Now, I look at what my expenses are for a particular product or service and I work it into the price. I don’t allow additional expenses to come out of my pocket, it’s either in the budget or it’s not. This is especially important if you choose to hold live events or provide physical products. Knowing what your expenses will be is hugely important and be sure to keep track of all those receipts!
4. Partner with a strong financial team. It is essential that you have a great team to support you and your business, from CPA’s to bookkeepers to financial advisors, they all play a vital role and will help you keep track of what’s working and what’s not working in your business. Ultimately the decisions are yours, but hearing all the opinions is helpful so that you enter into all you do with your eyes wide open.
5. Be honest about your situation. This is another area, where I needed to get real with myself. At first I kept pretending everything was ok, and kept spending as if I had a steady paycheck every two weeks. Sure my husband was bringing in money, but at the time it wasn’t nearly enough to cover all our household and business expenses. We had to sit down and really look at what the situation was. I had to learn to prudently use business credit and to stop pretending that I would be making millions in no time flat! Perhaps you aren’t as delusional as I was, but I’m sure at some level, you may not be as honest with what’s going on with your finances as you could. So, I encourage you to just check in and see where else you might be more honest with yourself!

Good luck and happy expense tracking!

Oh, and if you leave a comment about this post below, I will invite you to a 30 minute call where I will share in greater detail my expense tracking system and give you a copy of my Thriving Business Toolkit, which includes all my spreadsheets, a glossary of terms and checklist for must haves in your business a $300 value, yours for free just for providing your thoughts on today’s topic!

Taking Advantage of Your “Spidey Sense” (aka Intuition)

In 2007, Ann* the Vice President I was supporting asked for my opinion on the organizational structure of the new division she was tasked to create and head up. Now, it wouldn’t be the first time a VP had asked my opinion, it was my job and I loved it. The difference this time was that she asked me, “Silvia, what does your ‘Spidey Sense’ tell you about this structure and the players I’m considering for my staff.”

Seriously, wasn’t it taboo to talk about gut feelings or intuition in Corporate America? For the first time I felt exposed, I had never told a soul that the reason I was so successful at my job was that I first drew on a gut instinct then mentally tested the validity. Almost instantaneously the feeling subsided and I regained composure and my “Spidey Sense” and gave her my opinion.

In my own life and in growing a successful business, I have relied heavily on my gut instinct. It has never steered me wrong. In fact the times I’ve gotten into trouble were when I let my mind override a gut instinct. It’s interesting to note that the “gut” is actually a sort of brain too. It has more neurological pathways than the nervous system and from an evolutionary stand point has been around longer than the brain. I mean we even refer to intuitive hits as a “gut instinct”. How much more evidence do we need to trust it?

This is why I think it’s important for you to build a connection with your gut. Be sure to feed it well (you don’t want to confuse “gas” caused by the meal you just ate with some sort of gut instinct). In all seriousness, I spend a lot of time with my 1:1 clients helping them to reconnect with their gut. Sure we verify and validate by using other tools, but often starting with that initial hit is more insightful than listening to the last fad in business building.

So I challenge you to:

1. Sit down
2. Connect with your intuition (you can just say to yourself “I’d like to create a conscious connection to my intuition)
3. Ask yourself a question regarding something you’ve been struggling with this week
4. Listen to the answer (or for some it’s easier to journal the answer)
5. Then trust your gut

And then let me know how it goes!

*NOTE: VP’s name has been changed to maintain anonymity

How to prepare for a happy vacation and stress free return

When going on vacation there is a great excitement that is followed by a BIG amount of fear: Will you get it all done before you go? Will you be able to truly unplug? Your to do list seems to grow exponentially and you wonder why you scheduled time off in the first place. Then you often fast forward to all the work that you will have to get done when you get back and worry if you shouldn’t just take your computer along to stay on top of it all.

Does this sound familiar? Well you aren’t alone. There are millions of women just like you, struggling with this very same predicament. The need to get time off coupled with the overwhelm of what it takes to make it out of town without pulling your hair out upon your return.

Here are a few tips that have helped me have extremely satisfying and stress free vacations. In fact, I’ve shared some of these tips with a few clients and they have commented that it changed how they approach vacations!

Preparing to Leave:

1. Remember, there is no emergency so great at work that you can’t get to it upon your return. For most of us, our clients and colleagues will survive just fine without us! In fact, I’ve noticed that by the time I’ve returned from vacation, most emergencies have been downgraded to minor inconveniences, so don’t stress out about something that will be a moot point upon your return.
2. Have a list created for all the things you need to pack. I have two lists already prepared that are my base line – one for short trips and one for long vacations. They include a list of toiletries, electronics, and print outs that I like to be sure to have with me, making packing a whole lot easier.
3. Be sure to block of at least half a day for short trips and a full day for long trips upon your return. This half/full day is for you to unpack your bags, do laundry, grocery shop, clean out your email (not answer email just dump excess emails and junk) and sort through mail. It is much better to book this day into your “vacation” time, so that you aren’t overwhelmed up on your return.

Coming Back:

1. Use your “extra” vacation time, to do those things listed above in number 3. This is a great way for you to slowly transition into the “real” world. You will feel better if your life is back in order with everything in its place prior to going back to work.
2. Before doing your real scrub of email, get out your calendar and see what needs to get done and organize a to do list for yourself. It has been said that emails are other people’s agenda and this is absolutely true. Therefore you want to be clear about what YOUR agenda is, before getting to other’s agenda.
3. Once your home space and office space is clean and you know what you need to get done, execute on your actions. Nothing feels better coming from vacation, than knocking off a few to dos. So get to it.
   Let me know what comments, questions or additional insights you have about smoothly transitioning in and out of vacation. I’d love to hear what you have to say.

Let me know what comments, questions or additional insights you have about smoothly transitioning in and out of vacation. I’d love to hear what you have to say.

Think Like an Entrepreneur for Business Growth

In today’s post, I want to explain why I think every woman business owner needs to think like an entrepreneur and further explain why you should care. After working with hundreds of women business owners I can confidently declare that the predictor of success is their ability to think like an entrepreneur.

Even if you want a part time business or just replace your corporate salary, you need to be able to think like an entrepreneur.  This gives you that ability to do things like incorporate innovative solutions when the market changes or pull the right levers when you need to give yourself a “cost of living” raise.  As a business owner, there isn’t someone else above you pulling those levers or making those decisions and you need to learn to do that all on your own.

The reason I’m so passionate about helping you understand how to think and act like an entrepreneur is to give you the edge over your competition.  It is the thing that will help you grow during a down economy and will help position yourself for exponential growth when the market turns.

In my experience entrepreneurs approach their businesses from two perspectives, from their hearts AND the market need.  They are the innovators thinking, outside the box (or “cubicle” as it were).  It is the blend of heart, innovation and a deep understanding of the market that allows them to rise when things may be less than favorable or bounce back when they missed the mark.

As business owners thinking like entrepreneurs, you are in essence ensuring you will be happy AND make the kind of money you desire.  So what do you need to do to think like an entrepreneur?  Refer to these quick tips as a start:

1. Get inside the head of your ideal client.  Start talking to people, finding out what they need, want and how they think. This information is invaluable for talking to your ideal clients, marketing and copy writing. It is also great information as you create new products or services. Consider yourself a Cultural Anthropologist studying a little known society.
2. Be clear about what’s truly important to you in a business.  Do you want to travel or stay put? Do you want to hire people or go solo? How much money do you want to bring in? The list goes on and on, the point being get clear about what YOU want and stick to your guns! Think of this as the rules for your business that will help you make better business decisions.
3. Make your business decisions by thinking about the short term AND long term consequences.  Often I see clients not invest in themselves because they are afraid of parting with the money short term, when sometimes that investment can yield 10 fold or more in the medium to long term.
4. Surround yourself with people who are desiring and achieving the same level of success you are.  It has been said that you are the average of your 5 closest friends, consider that to be the same with your business.  If you are hanging around business owners that aren’t going where you want to, it’s time to find some that are!
5. Choose your tasks wisely.  Whatever you work on needs to be the 2-5 things that will absolutely move you closer to your financial and time goals.  If you are doing things that aren’t producing results that directly impact your financial or time goals, then you are doing the wrong things and therefore spinning your wheels!

How many of these 5 are you doing? Where do you need a little work?  Do a quick assessment and determine how you will make the appropriate shift in your business today!

I want to hear from you! Please leave a comment or question below.

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31 Days of Giving

Hi There-

I need your help! This December I’m embarking on 31 Days of Giving where I reveal tips, tricks, secrets and in general to your business building questions and challenges. You see, I woke up inspired today to give back, and couldn’t think of a better time to do it than during the month of giving.

Check out my video below where you get to learn a little bit about me and a little bit more about why I’m doing what I’m doing.

Got a question you’d like answered? Just leave a comment below and I’ll do my best to address it during the 31 Days of Giving. In addition, I invite you to check back starting December 1st as I will be giving you the opportunity to get 1:1 coaching with me FOR FREE!!! Yup that’s right as part of the 31 Days of Giving, I’ll be opening up my calendar to you as well!

What is your 20?

Recently I was asked in an interview about the number one strategy I recommend for anyone starting or growing a 6-figure business. My response was simple, if nothing else, focus on the 80/20 rule. Now the 80/20 rule was popularized by Timothy Ferriss in The 4-Hour Work Week, but I’ve been using this rule since 2000 when I first learned about it. For those of you unsure about the 80/20 rule and let me tell you a little bit about it and then give you some guidance about what it might look like for you in your business stage.

The 80/20 rule also know as Pareto’s Principle, named for the economist Vilfredo Pareto, states that 20% of efforts yield 80% of the results. For example in business: 20% of your marketing efforts yield 80% of your total sales OR 80% of your profits come from 20% of your products/services. When I was in the corporate world I applied this principle assuming that 20% of what I did on the job would yield the 80% results that the company cared most about. And by focusing my time and attention there, I was able to get promoted and/or a salary increase each year for the almost 10 years I was an employee!

Now, let’s take that same principle and apply it to the particular stage you are in business and although each of your situations will be different, just know that this is a general rule of thumb I have found based on my work, the work I’ve done with my clients and so on.

Break Free From the JOB:

• Figure out the 20% in your job and focus your time and energy there
• Spend the extra time devoted to your business building, such as:
  • Market Research
  • Market Testing
  • Setting up the Business Structures

Grow to over $100k in Business:

• Getting in front of your ideal clients and building relationships
• Having selling (or as I call them, Win:Win) conversations
• Delivering on your services

Grow to the Next Level and Decrease Hours Worked:

• Hiring the RIGHT staff (either internally or contract)
• Designing the new leveraged business model
• Delivering to existing customers

Which phase are you in? Are you spending time on the right 20% based on what I’ve seen is necessary? Leave me a comment and let me know where you land on the 80/20 rule in your business!

Tap into your Feminine and watch your business THRIVE!

In this ground breaking 3 Part Series I share with you why your old employee thinking wont help your business THRIVE. You see most of us are used to being in an employee mindset, having come from the corporate world. The problem is, that the employee mindset is a Masculine way of doing business. That’s why you were probably overwhelmed, frustrated and burnt out as an employee.

However most of us then use the same thinking to build our businesses and wonder WHY we still feel so out of balance. That’s because we MUST tap into our FEMININE side. Believe it our not, the biggest Male Entrepreneurs tap into their FEMININE to become successful billionaires. You see, this has nothing to do with gender and everything to do with FINDING BALANCE.

So check out these 3 videos – each is 10 minutes or less – and learn how to bring in your Feminine into your business and watch it THRIVE!

What did you think of these videos? Let me know your thoughts by leaving a comment.

Also, do your colleagues a favor and share this valuable information by using the “share this” button below!

Are you still thinking like an employee? Part 2

Check out this 2nd video that asks you the question, are you thinking like an employee or entrepreneur?

Would you like to join me, in balancing out your feminine and masculine?? Meet me at the spa: http://outsidethecubicle.com/spaday/

Are you still thinking like an employee? Part 1

Check out this new video that asks you the question, are you thinking like an employee or entrepreneur?

Would you like to join me, in balancing out your feminine and masculine?? Meet me at the spa: http://outsidethecubicle.com/spaday/

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