Posted by Vicki Donlan on Sun, Apr 04, 2010 @ 06:38 AM
Women entrepreneurs have a particularly difficult time delegating responsibility in their business. Before reading further, ask yourself,
(1) Do I delegate the important needs of my business to others?
(2) Am I willing to ask for help?
(3) Do I know how to search for the expertise I need to get my business to grow to the next level?
(4) Do I believe I will only be a true success if I do everything my business needs by myself?
If you answered yes to the first three questions you are in the minority of entrepreneurial women and you can stop reading this blog as you are on your way to scaling your business to new heights. If, however, you answered yes to the fourth question you are in the majority and this blog is for you.
You, the business owner, are NOT the business. You cannot and should not rely on yourself to take care of all the responsibilities required of the business. Yes, I realize that you are operating on a shoestring budget and doing your best to stretch your financial resources. But, while trying to bootstrap your business to do more with less you are suffocating any chance you have of scaling your business. You cannot succeed by depending on the energy of one human being who even in the best case scenario only has the capacity for 16/7 -- even you, a superwoman must sleep. Perhaps, you were brought up to believe that asking for help was in some way showing vulnerability and now that you are CEO of your own business the last thing you want to demonstrate is weakness. Yet, all you need to do is spend one hour in the present of your banker, lawyer and/or accountant to observe that depending on others allows you to do the most important job you have in your business - visualize the big picture and develop the constant plan for expansion.
So, begin this week to delegate tasks to others. Even a sole proprietor can take this opportunity to outsource a task and pay an expert to do the work she would normally do on her own. Watch how quickly your energy for the business will expand. When you spend your time focusing your attention on the tasks that scale the business and you outsource other responsiblities, the business will have greater momentum and higher revenues. This week the word is delegate. Start today so it becomes natural for you to ask for help.
Posted by Vicki Donlan on Mon, Jan 25, 2010 @ 02:15 PM
You've finally done it! You've launched your own business. You can now call yourself an entrepreneur. Now that you have the title and the business, do you know how to be successful? I share with my clients the top 5 things every entrepreneur MUST do to not only be survive but thrive.
1) Develop a team of experts. Interview and find the following professionals to work with as you build and grow your business: business lawyer, accountant, tech consultant, banker and business coach. Each of these experts will bring you service and support that you cannot expect to know yourself. So, even if you begin your business as a sole practitioner, do not assume you can do without this important team. As you grow you'll need to expand this group with an investment advisor/financial planner, recruiter/HR professional and more.
2) Keep a daily journal. Starting a business is like any journey - it has a beginning, a middle and an end. It also has bumps a long the way. The best way to keep track of the road is to write about the progress each day. Keep it simple and just write down the facts. Over time you will look back at it and be amazed at how you managed to get over the challenges. It will remind you that you have been down and gotten up. It will remind you that you can never be so secure to believe that you won't be down again. In other words, it will keep you humble.
3) Toot your own horn. Visibility in business is everything! You and your business must be out there and everywhere all the time. You are the best salesperson your business will ever have and if you don't promote it who will. Obviously, if you are a sole proprietor this is even more important, but either way - you must be singing the praises of your product and/or services every minute of every day (24/7). This is where social media comes in to play. Start a blog and make a commitment to blog at least once a week. Create a LinkedIn account and make sure you use it for your business. Search the web for articles on your business and comment as often as possible so you will be seen as an expert in your field. And, don't discount your local newspaper, particularly if you have a small local business. Become an expert for the local journal. Offer to write an article or do a Q & A on the industry. Newspapers love columns and this is your way of getting exposure to your local business market. Don't ever forget - if you don't toot your own horn no one will toot it for you.
4) Network-Network-Network. People do business will people they know, like and trust so make sure people get to know you. Join your local business group as well as trade organization. Go to meetings and make sure to volunteer for a committee. Get involved - not just to make contacts for new business, but to meet other entrepreneurs. The bond between entrepreneurs can be very special and when the going gets tough it is important to have people who understand to reach out to. The number one issue consistently sited by women entrepreneurs is isolation. So, be prepared and network to give and get business as well as to make new friends.
5) Be true to yourself and your values. Business is not easy. You will have difficult decisions to make. You may at times be asked to compromise your principles. Your actions do speak louder than words and they won't be forgotten. Ask yourself how important your credibility and reputation are to you. No matter what happens to you or your business, people will remember how they were treated. Make sure you look in the mirror every day and are proud of what you have built and accomplished.
Entrepreneurship is not for everyone, but for those who dive in the pool make sure you don't drown.