Tag Archives: entrepreneurship

The Big Enough Company

The Big Enough Company: Creating a Business That Works for You, by Adelaide Lancaster & Amy Abrams, Penguin Group, 2011. www.ingoodcompany.com.

I am fascinated with the message in this brand new book – to build your own company to a size that fits you. Sounds simple but with the uptake in our economy there is a great deal of pressure to expand continuously: to strive for more influence & power with the final goal of steadily increasing profitability.

But what gets lost when we embrace that kind of thinking? Lancaster and Abrams challenge you as an entrepreneur to buck popular “wisdom” and peer pressure to create a business that genuinely fits your needs at this time in your life. Pick it up if you are either starting your own business or have been in business for years as I have been. A new and powerful perspective!

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Is Your Business in a “Mid-Life” Phase?

Wow, it’s hard to believe that my coaching & training business is over ten years old. It’s been very successful and everything I’ve wanted –from the scope, variety and depth of services, to an extensive involvement in my professional community & networks. And the icing on the cake is having the same wonderful office down here by the Truckee River in an old red brick home converted to offices.

And it’s been a conscious choice to build and develop my business to be just the right size and shape for what I want at this time in my life. I can do – and have done – anything I want. I’ve had the opportunity to “throw spaghetti” on the wall whenever I get “yet another” creative idea. I throw it out – give it a whirl – and see what happens. While maintaining the integrity of my business, I’ve learned that in this economy we all need to be willing to take the risks, push the comfort zones and continually create the business that we really want for ourselves.

But now that my business is in its mid-life . . . what do I want now for my business? Certainly, to continue to be part of people’s lives as they move through significant career and life transitions. That’s been the theme of my life’s work and I love it. But I would also like to change it up a bit and hopefully, that will be more overseas work.

Let’s see what ideas and “spaghetti” I bring back from the sun and waters of Greece!

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Dark Night & Seance & Dinner = Evening of Value

It’s a dark October Saturday night. I’ve persuaded my friend, Yvonna Estep, into joining me for dinner and a “seance” at a small local restaurant.  Yes, a seance . . . it’s being hosted by Barb Giacomini, owner of the Daughter’s Cafe www.daughterscafe.com.

Barb’s restaurant is in a old house down by the Truckee River here in Reno, Nevada.  Tall oak trees grace the front and as you climb the stairs you enter a house with several beautiful rooms, creaky wooden floors, large windows and a rich history.  Barb serves breakfast, lunch and on occasion special dinners such as this night . . .

Barb is an inspiration.  She has owned the Daughers’s Cafe for five years but it hasn’t been easy.  She is a wonderful cook and the dishes that she prepares for her customers are incredible.  But attracting enough customers is always a challenge.  So what she does is unique.  Barb has figured out how to add unique value to her customers who want more than just to go out for a nice meal.  Yes, she knows that people want to enjoy a meal out but they also to have some entertainment as well.

So this is what Barb does . . . she partners up with either the local theater group, our world-renown museum, or the movie theater around the corner to offer a themed dinner or brunch.  On this particular night, she did something even more unique.  She invited a psychic, Theresa Peacock,www.aboveandbeyondpsychic.com, to come and conduct a seance.  And the place was packed – as it had been for each weekend night before.  Barb knows what people want and what they are wiling to pay for – she provides a wonderful evening of entertainment and a fabulous meal as well.

Add a Unique Value to Your “Everyday” Service

This is what we can learn from Barb.  As a small business owner, think about what you can offer people that is just a little more – something that your customer can “write home about”.  Take your time . . . what would be unique?  Fun?  Meet a need?  And then try it out.  Make it simple and time limited.  If it doesn’t work that’s fine.  Try something else.

In this process you stay engaged and motivated to move your business forward.  And you are visible – people know that you are in business. While many others are on “hold” during this tough economy you’re out there making it happen.  People pay attention – they remember.  It says a lot about you,the energy and the spirit of your business!

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Employee Fatigue!

Recently, I have been writing about Job Search Fatigue (for those bone weary job seekers) and Small Business Fatigue (for those business owners struggling to keep their doors open).  But there is another group equally fatigued that is easily overlooked.  I call these folks the “Last Ones Standing”.  The employees that didn’t get laid off but were either shuffled into new positions or left holding down several job responsibilities. They don’t get much empathy or attention. No one is really interested in their stories because, after all, they still have a job.

But maybe many of these employees are more tired that anyone.  Everything has changed including losing familiar colleagues and work identities.  And they have far less control over their daily work priorities and schedules that the business owners or the job seekers. Would anyone like to switch positions? Maybe not but the feeling of fatigue is epidemic for all three groups.

7 Strategies to Manage the Fatigue

So how do you manage the fatigue, stay optimistic and motivated day after day?  Here are 7 strategies to do just that – and these work equally well for the job seeker, small business owner and that last employee standing.

  • Take care of yourself physically & emotionally (sleep, diet, exercise and positive relationships).
  •  Ask yourself “What do I want for myself at this time in my life?” Ask yourself again.
  • Rethink your expectations of yourself especially ones that bring stress into your life
  • Set intermediate goals for yourself & celebrate when you achieve them
  • Decide what your priorities are – what is negotiable and nonnegotiable
  • Be willing to change, change and change again
  • Stay active, engaged and focused!

Be patient with yourself.  You know what works for you and what you need to do to manage the fatigue factor for yourself.  If you get stuck, reach out to others.  Lots of others are feeling the same and also have good answers.

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Small Business Fatigue!

A couple of weeks ago, I wrote a blog on Job Search Fatigue focused on job seekers who were truly exhausted after months of dedicated job searching.  The topic hit a cord with many.  But it was not only job seekers but also small business owners that responded with their own stories.  They described a very similar fatigue that has resulted in some owners simply closing their doors or scaling back their businesses to a skeleton operation. Many have taken on other jobs – full or part-time – to just pay the bills leaving little time to nurture their own businesses.

These owners have been riding a roller coaster of economic news since early 2009 – coming up on three years.  Sometimes it’s up and sometimes it’s down. They don’t discourage easily but they will admit that it’s been exhausting for those sole proprietors in the service industries; small family-run businesses and those slightly larger businesses with a handful of employees. There’s just not much room for extended financial losses.

A Powerful Shift in Perspective & Expectations

Over this past weekend, my career coach colleague, Ann Boyer, M.ED, CCMC suggested shifting our perspective and expectations to be more in alignment with the changes in today’s work world.  As we talked, we identified a powerful shift in mind set that might just work for you.

So here is something to think about.  It is a different way to approach your business growth next year.  It is a shift in both your perspective and your expectations.  I’m assuming that you’ve pared things down as much as you can – you are slim and trim and still in business.

So start with you having an honest chat with yourself and ask “Do I really want to stay in business?”  And if that answer is unequivocally “yes” that you have your end goal.  You have the entrepreneur heart!

Next, set the financial expectations aside as much as you can.  If you can pay for your rent, your overhead costs and essential house expenses you’re good to go.  Worrying about the money, the bills and how things have changed only drains your mental and physical energy.  You are reacting from fear and it only holds you back.

3 Ways to Continue to Be a “Valuable Presence”

So for now shift your energy and focus on becoming “a valuable presence” in your community.  You actually may have several communities – local, virtual, professional networks etc.  But concentrate on your “presence”.  You are still here and you’re going to stay.

Do this by concentrating on providing value each day, week and month to your communities.  Here’s three ways to do this – do all three since they build and compliment each other.

  1. Stay Active (with colleagues, organizations, activities etc.)
  2. Stay Engaged (put energy & enthusiasm into everything)
  3. Stay Focused (know what is important to you – avoid detours)

And remember you bring “value” in part because you still are here and you provide history and continuity to your community.  And on a good day, whip up a list (or send out a survey monkey) of all the value you bring to your customers, your colleagues, bosses etc.  You will be pleasantly surprised how others see and appreciate your value over the long run!

 

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