How Multi-Millionaires THINK and Influence Others
May 4, 2012
I’ve been watching more Brendon Burchard videos this week. I crave more energy. CRAVE it. So I’m devouring everything he’s putting out there this week. This is a must-see video from Brendon. Incredibly smart and inspiring stuff.
It’s about how multi-millionaires and high performers THINK, focus and get so much done, and how they INFLUENCE others so easily and effectively. (Don’ you wish you could have more energy and make more money?) Everyone is struggling to have more energy, success and influence these days, so this hits the mark.
I love the whole “6 Secrets of High Performers” framework. And video 2 that comes tomorrow goes even deeper.
These are the same achievement strategies Brendon used to go from broke and frustrated to making $4.6 million in under two years. He got very focused and committed, and you’ll see why. The secret, Brendon says, is learning the very same psychology, physiology, productivity, and persuasion secrets of the world’s most accomplished people. I think people who don’t know about these principles are always wiped out, stressed out, and frustrated that they can’t achieve more. But people who understand and master them create extraordinary lives.
From now on, be sure to ask yourself Brendon’s six questions for high-performance everyday – it’s a sure path to higher acheivement in all you do.
Enjoy! And take notes! This is GOOD!
The difference between peak performance and high performance is a good thing to know. Brendon nails it.
The Secrets of Happy Success: What Every Entrepreneur Needs to Know
May 1, 2012
It’s one thing to start a business. It’s quite another to create meaningful and rewarding employment for yourself (and possibly others). The truth is that it’s astonishingly easy to create a business that is unsatisfying. It always surprises me how many unhappy entrepreneurs there are…after all, you’re the boss! Yet, despite clear goals and the best of intentions lots of entrepreneurs make big compromises in order to do what they think it best for the business. They end up feeling overworked, underpaid, stressed out, and alone.
The beauty is they (and they alone) have the power to change their circumstances and to prioritize their own satisfaction. It’s up to them to take advantage of the amazing opportunity that entrepreneurship affords them – the ability to craft a business that delivers the satisfaction they want and deserve.
After working with thousands of entrepreneurs I can tell you that no two go about achieving this goal in the same way. However, I can also tell you that the happiest entrepreneurs do have several things in common.
They all honor these 5 rules to live by:
1. Don’t go it alone
Entrepreneurship can be a lonely experience. Not only is this emotionally challenging, but it also creates a huge opportunity cost. Your community is your best secret weapon and the most direct route to more support, inspiration, ideas, feedback, and sales! The better connected you are the stronger your business will be.
2. Do what you do best.
Your job as an entrepreneur is not simply “the doer of things that need to be done.” With a to-do list that never stops multiplying it’s tempting to just dive in and get going. This is a loss for both you and your business. Don’t squander the chance to do work you love every day. Instead, consider where you’re strong, and consider where you’re not. Restructure your schedule to do what you enjoy at least the majority of the time. And, have a good reason for doing tasks you don’t like.
3. Honor your original goals.
Do you remember why you became an entrepreneur in the first place? Do you still derive that reward from your business? Once they have a few years of experience under their belts many entrepreneurs find little if any trace of their original motivations. Given how hard you work, it matters that you are able to get the benefits you want. So ask yourself, what’s in it for me? What makes all the work worthwhile? Then figure out how your business can deliver.
4. Build your stamina.
Running a business is a marathon, not a sprint, and it can take a while before you see the financial fruits of your labor. That’s why it’s imperative to maintain your stamina. Bolstering your endurance requires you to adopt a “work smart” mentality and commit to valuing yourself as much as the business. It’s important to also leverage common best practices, such as learning to set boundaries, delegate work, keep a clear focus on goals, and employ small steps towards progress.
5. Don’t believe the hype, bigger isn’t always better
Our culture tends to glorify size and fixate on numbers. This is even true in the small business world. Entrepreneurs often pursue particular metrics at the expense of their own satisfaction. Measuring success depends on the goals you have for your business. Generate your own definition of success. It may include numbers and metrics but shouldn’t praise growth for growth’s sake. It’s remarkable how differently entrepreneurs grow their companies when they aim for their own benchmarks instead of others’.
Strategic Entrepreneurship Expert – Adelaide Lancaster of In Good Company from Philadelphia, PA
Adelaide Lancaster, co-founder, is a successful entrepreneur who excels at making business ideas a reality and helping businesses grow to their potential. Adelaide is both a strategic thinker and a master implementer. She has spent her professional career dedicated to helping women find work that is meaningful and rewarding. Adelaide was recently featured in the book Upstarts!, as one of 60 Gen-Y entrepreneurs who are rocking the world of business. Adelaide was co-founder and Principal Partner of Berkman Fives a consulting firm that helped women professionals with career development and advancement and women entrepreneurs with business growth and efficiency. Adelaide also is a contributor to The Huffington Post and Daily Muse.
Adelaide also co-authored the book “The Big Enough Company”.
Incorporating a Business 101 by Guest Author Nellie Akalp
April 23, 2012
In the startup world, it’s easy to get overwhelmed with all of the tasks at hand. One item that is especially mind-boggling for many entrepreneurs is the legal aspects of starting a business.
Many people assume they have to spend tons of money by hiring a lawyer to process the paperwork – but that’s not the case. There is a plethora of free small business resources and cost effective alternatives readily available to any start-up who’s wants to start a business by incorporating or forming an LLC and I’m here to share those options with you along with some important ‘incorporating 101’ facts you should know.
Why Incorporate:
One of the main questions I get asked from clients is “Why do I need to incorporate my business?” Here are a few of the top reasons:
- Liability protection. Once you incorporate your business, it exists as a separate legal entity. The corporation is responsible for all of its debts and liabilities and not you, the person. There are a lot of ‘What-Ifs’ when starting a business, and being protected from all of those situations will give you some sign of relief if you are ever in trouble.
- Tax benefits. Taxes can be an entrepreneur’s worst enemy. But for some, incorporating can help lower that tax burden and may enable additional deductions not available to individuals.
- Credibility. Marketing studies have shown that adding an LLC or Inc to the end of your company name can increase your credibility with prospective clients. Increased credibility can bring in more business and that should make any entrepreneur make the plunge to incorporating!
Which Business Structure to Choose:
The next question I am asked is “What are the main business structures to choose from?” Here are the business structures that are most often chosen by a small business owner who wants to legalize their small business:
- Limited Liability Company (LLC). The LLC is ideal for a business that wants the liability protection, but seeks minimal formality.
- S Corporation. The S Corporation is a pass-through entity for federal taxes. The IRS places limits on the number of owners and who can be an owner in an S Corporation, so there are some qualification restrictions.
- C Corporation. The C Corporation is not recommended for small business owners; its mainly recommended for a business that intends to raise capital by issuing stick or attracting investors through VC funding.
Where to Incorporate:
Another question that I’m often asked is “Where should I set up my corporation or LLC?” Many people assume that they should incorporate in Delaware or Nevada, however, as a general rule of thumb, if your corporation or LLC will have fewer than five shareholders or members, it’s best to incorporate in the state where your business has a physical presence. Extra “Out of State” costs come with incorporating in another state such as filing fees, annual reports and appointing a Registered Agent in that state may outweigh other benefits of filing out of state.
How to Incorporate:
Once you choose what structure is best for your business, you have a few options to make it official. Do-it-Yourself (DIY), a legal document filing service, or an attorney. Here’s a bit on each option:
- Do-it-yourself. You can incorporate your new business by downloading or requesting the forms from your state’s secretary of state’s office. You will have to complete the paperwork and submit the forms on your own and pay the state filing fee which varies from state to state. It is a great option for those looking to save on money instead of time as you have to be sure to fill out all of the proper information on the paperwork to avoid any back and forth with the state.
- Online legal filing service. An online document filing service will complete the paperwork and file the documents for you. This option is slightly more expensive than a DIY option, but you will have the peace of mind that the submitted paperwork is done the correct way. It is important to note that most filing services cannot provide you with advice on which legal structures to choose, so you need to know exactly what you want to file when going to a service.
- Attorney. For more complex business needs, an attorney may be the best option to get expert counsel when starting out. An attorney can assess your situation and provide specific legal advice, but of course, this brings a higher price tag than the two other options.
Just remember to take baby steps when starting up your new business. If you try to get everything done at once, you will just overwhelm yourself. Take it slow and know it will all get done in time!
Nellie Akalp is a passionate entrepreneur, small business advocate and mother of four. As CEO of CorpNet.com, an online legal document filing service, Nellie helps small business owners form an LLC or incorporate a business to start their ventures off the right way. Visit Nellie’s free resource center, follow her on Twitter @CorpNetNellie “Like” CorpNet.com on Facebook and add CorpNet to your Google+ circles!
What To Do AFTER You Launch Your Website – Video Post From Lara Galloway the MomBizCoach
April 23, 2012
When you first launch your business, getting your website up and running is a HUGE milestone. But have you considered the actual purpose of your website and the role it plays in making your small business successful?
Your website has an important job: it’s your virtual sales team and marketing department. But more than just telling the public about your great products and services, your website is the cornerstone of your engagement marketing strategy. It needs to bring you qualified leads that are your ideal clients. Does your website do this for you?
In the five-minute video below, I share five steps to help make your website work for you.
Join me (Michelle McCullough) on a teleconference with Lara Galloway and Shelagh Cummins this Wednesday. We’ll be talking about how to avoid the mistakes entrepreneurs make in their first 3 years of business. Register here.
I’ve Launched My Business – Now What?! Free Teleconference
April 21, 2012
A Credo For Making It Happen – Video by Danielle LaPorte
April 17, 2012
Today is the big day. Danielle LaPorte’s book “The Fire Starter Sessions” is available at bookstores near you and online at every major online bookstore.
And this video is pretty smokin’. Light your fire:
Congrats, Danielle!
What Does Easter Candy Have To Do With Your Entrepreneurial Venture?
April 12, 2012
If you’re anything like me and most Americans, you are probably on an Easter candy low. The highs of the previous weekend, and finding cheap gems the day after for 50% off have worn off and you are now experiencing the downside of the Peep rush.
It got me thinking. Here are some things that I’ve learned where Easter candy and entrepreneurship intersect:
1. Americans especially, love to get caught up in holidays and seasons. How can you make your product or service relevant through peak seasons? Now I don’t recommend making cheesy comparisons, just for the sake of trying to attach to the most current holiday (let’s stay away from overly peppy “Hoppy Coaching” Packages, for example or that you’ll throw in a box of marshmallow chicks if they buy your book 
but think about YOUR product or service and see where it fits in the natural flow of the seasons. Do you have a gift product that works well around the holidays and Mother’s Day for example? Are you a coach that could benefit from attaching yourself to the New Years Resolution revolution? If so, start thinking about your “campaign” about 4-6 months in advance, and prep everything to hit your email list, facebook posts and anywhere else you are advertising during YOUR peak season.
2. Can you repurpose your product offerings to make them fit in different seasons? This works really well in the craft industry. Perhaps your products could be produced in pastel colors in the spring or bright colors for the summer. Just as M & M’s has mastered the colors of the holidays with their seasonal bags of chocolate goodness, you too, could take the same product and repurpose it to fit within the colors of the current season. Again, plan ahead so that you are selling these things 6 weeks in advance.
3. Test your seasonal products or services with focus groups or through other research before launching. It can be easy to get caught up in the seasonalness and forget strategy. Whether you are adjusting your marketing to fit the seasons or your products, make sure that you’ve done your research. It would be sad to see your product in the clearance bin for 75% off because it no longer fits. You’ll start to feel like a no name, hollow, chocolate bunny that can’t get anyone to buy it for 35 cents. Now, some of this will take trial and error, but remember the laws of supply and demand. It’s better to run out and be a hot product during the season, than to be stuck with inventory you have to store for a year or trash.
Let’s connect! Follow me on twitter. Follow me on Facebook. Check out my free video e-course on Working Smarter Not Harder here.
Michelle McCullough is the Managing Director for Startup Princess. Michelle became a partner in Startup Princess in 2008. She is responsible for event planning, marketing, affiliates, sponsorships and partnerships. Over the past 3 years she has coached women entrepreneurs and helped them grow their businesses from “dream in development” to established thriving businesses. Michelle is a speaker, strategist, success expert and a serial entrepreneur. She started Doodads Promotional Products when she was 19. And has also spent the last 12 years working in marketing and advertising. She’s worked in all aspects of the industry from production to creative and sales to management. On top of her full-time jobs, Michelle has cultivated her love for entrepreneurship by running Doodads as a successful side business. Today it continues to thrive. This year Michelle launched a coaching program called “The Life Balance Myth” to help busy entrepreneurs build thriving businesses AND meaningful personal lives. She believes that life balance is a myth, but she provides practical tools to achieve personal and professional success. You can learn more about Michelle at SpeakMichelle.com. Michelle has two children ages 4 and 2 and lives in Utah.
Coaching Challenge: Delegating
April 11, 2012
By Jane Murphy, Author of “What could happen if you do nothing?” A Manager’s Handbook for Coaching Conversations
Dave was a senior manager who was lost in the weeds of detail and minutia. He jumped in to take on big and small tasks. He suffocated others with constant reminders and suggestions, only to compromise the quality of the work they had so seriously invested in. Dave had lost his proper focus on the big picture and the future. His micromanagement led his people to believe that he ultimately did not trust them to do their jobs properly.
An executive coaching engagement has helped Dave sort out his real responsibilities in the organization . . . to focus on what’s important, the future rather than the present, the work he should be doing in leading his group versus the work he can pass on to someone else. During his coaching engagement, Dave also discovered opportunities to develop his people by having them assume greater responsibility.
Becoming more skilled at delegation has given Dave more freedom, and has enabled him to develop himself as well. Let’s look at the process:
What’s the whole view of the work to be done? What is our purpose? What are our objectives? What are the parts, and the steps to get to the finish line? What tasks can be farmed out to others, and what skills are essential to those tasks?
Self-assessment
What must remain under my control, and why? Where are my strengths and weaknesses, and what can I delegate to someone more capable?
Resources
What resources — time, budget, people — are available to me? How are these resources currently allocated, and how could that be improved?Stakeholder input
How are others — our reports, our team, our department colleagues, our boss, our customers — affected by our purpose and objectives? What recommendations could they make for improvements? Who could be given more responsibility? Next Steps
Once you’ve identified tasks to be delegated, you can define boundaries and success criteria, assign necessary resources and supervision, point out development opportunities and any potential problems.
Successful managers are successful delegators. They and their people realize many benefits beyond the work at hand, including:
- Greater engagement
- Cost and time efficiencies
- Individual and team development
What have you learned from your own delegating abilities?
Jane Murphy is a partner in Giraffe Business Publishing LLC and Giraffe LLC, a consulting firm that designs custom solutions to help organizations improve the management capabilities of their people. Jane also leads Giraffe’s coaching engagements, working with clients to solve business and leadership challenges. Jane has been principal and co-founder of several publishing ventures, including KIDVIDZ, which won numerous awards for its special-interest videos. She has received grants from the National Endowment for the Humanities and the Rockefeller Foundation National Video Resources. She has co-authored several books, including “What could happen if you do nothing?” A manager’s handbook for coaching conversations (Giraffe Business Publishing). Jane speaks and writes regularly about coaching in the workplace.
Register for a Free Publishing Teleconference with Ishita Gupta!
April 10, 2012
Motivational Monday – What Would Your Life Be Like? #FireSS
April 9, 2012
One of my favorite burning questions from “The Fire Starter Sessions” by Danielle LaPorte, has me thinking today.
If you want to get in on the pre-order for the Fire Starter Sessions, check out the bonuses here. The bonuses are only available until the book hits the stores on April 17th.
Here’s the question for the day: Should business be easy?
